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    1. Member
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      05-05-2020 05:48 PM #1
      Rental car company Hertz is making last-minute maneuvers in a bid to avoid Chapter 11 bankruptcy amid an unprecedented slowdown in travel spending.

      Hertz has disclosed that it received approval from its lenders to continue negotiations through May 22 to “develop a financing strategy and structure that better reflects the economic impact" of COVID-19.

      The move comes amid widespread reports that the company is barreling toward a potential bankruptcy filing.

      Hertz warned in a public filing that the pandemic has led to "a rapid, sudden and dramatic negative impact" on its business. The company said it has "taken aggressive action to eliminate costs," including a plan announced April 14 to cut about 10,000 jobs.

      But the company still "faces significant ongoing operating expenses," including agreements that commit the company to lease more vehicles than it currently needs.
      https://www.usatoday.com/story/money...11/3084214001/

      If you got points, perhaps you might need to use them...

    2. Member NotFast's Avatar
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      05-05-2020 05:51 PM #2
      Well it's only Chapter 11. All those auto loans and no income = can't make loan payments.

      But are the travel companies Too Big To Fail?

    3. Member turbinepowered's Avatar
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      05-05-2020 08:36 PM #3
      Quote Originally Posted by NotFast View Post
      Well it's only Chapter 11. All those auto loans and no income = can't make loan payments.

      But are the travel companies Too Big To Fail?
      Hmmm, maybe they should be responsible, and have six months' expenses in savings.


      But seriously, I've never had a good Hertz experience, and when I was traveling for work they were the absolute kings of nickel and diming me to death while never quite being budget enough to make up for it.
      Quote Originally Posted by zukiphile View Post
      There is an area of a normal brain that lets the owner know the object works and needs to be left alone. Not all of us have it. It is like being colorblind.

    4. Senior Member AZGolf's Avatar
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      05-06-2020 10:29 AM #4
      Quote Originally Posted by turbinepowered View Post
      Hmmm, maybe they should be responsible, and have six months' expenses in savings.
      Individual humans get laid off all the time. Entire industries getting shut down has never happened before. The great depression, world wars, Vietnam, every recession - all of it had gradual decreases in business or in many cases, no change in business at home in the USA in spite of what was going on around the world. There's just nothing like this. Even after 9/11, flights were only halted for 72 hours. Business was lighter after that, but nothing in history compares to the shutdown we just did.

    5. Member corrado-correr's Avatar
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      05-06-2020 10:59 AM #5
      Funny this thread came up today, I just gont an email that from Hertz that they are extending my Presidents Circle status till 2022, and all points set to expire this month are extended till the end of this year.

      I have to use Hertz due to company policy, but what I like about it when it comes to using it for personal travel is it's relatively cheap due to my status. I booked the cheapest compact car for $10-20 per day, then just take what ever is in the Presidents Circle lot. Car selection is decent in general.

    6. Member LuckyDogg's Avatar
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      05-05-2020 07:54 PM #6
      Post title: “Hertz files bankruptcy”

      First line of post: “Hertz is making maneuvers to avoid bankruptcy”

      Therefore, Hertz has not filed bankruptcy

    7. Senior Member Mazda 3s's Avatar
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      05-05-2020 08:30 PM #7
      "Of course that's just my opinion; I could be wrong."

      Quote Originally Posted by The Igneous Faction
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      Quote Originally Posted by WhistlerYOW
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    8. Member vwpiloto's Avatar
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      05-05-2020 08:41 PM #8
      Quote Originally Posted by Mazda 3s View Post
      Always the first thing that comes to mind when I hear of bankruptcy.

      And then I feel bad for all of the employees and other parties affected by it.

    9. Member esrballa's Avatar
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      05-05-2020 08:50 PM #9
      Probably a Big blow to car makers who make a good chunk of their coin in fleet.

    10. Geriatric Member @McMike's Avatar
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      05-05-2020 08:54 PM #10
      Is it time for another "Would you buy a rental car" thread?

    11. Senior Member 6cylVWguy's Avatar
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      05-05-2020 10:59 PM #11
      I don't rent a ton, but perhaps 5-6 times a year for work and have been using hertz for most of that time. I started with enterprise but after my 5th horrible nissan in a row, I went over to hertz. Never had a problem. Perhaps it's because I only rent from airport locations? I have always been able to find something a different each time I rented. Perhaps my opinion would be different if i rented several times a month.

      Sent from my SM-G930V using Tapatalk

    12. Member GTI_CH's Avatar
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      05-05-2020 11:07 PM #12
      Yeah hertz is always crap. Never had any issues with the other brands.

    13. Senior Member Sporin's Avatar
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      05-18-2020 10:48 PM #13

    14. Senior Member chucchinchilla's Avatar
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      05-19-2020 12:09 PM #14
      Looking at the cars on AutoTrader the average mileage is 23K. In the before-times I was in a rental car every other week and there's a big difference between cars that have 5K on the clock and anything close to 20K. Anything more than that just felt trashed. Every surface has been beat on then washed hundreds of times so the paint, wheels, interior plastics, carpets, seats, switch gear, trunk, etc., looked tired and mechanically the cars just feel a bit off. That considered 23K miles on a Hertz Corvette =/= 23K on your average Ford Fusion Hybrid rental car. If I cared about GM and had a big car collection sure I'd toss one into the pile for the novelty but as a primary or 2nd car (i.e. the single fun car for me to enjoy/pamper) that's a very hard pass from me.
      Quote Originally Posted by [email protected] View Post
      This forum is more and more of an embarrassment every day...

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      05-19-2020 01:28 PM #15
      Quote Originally Posted by chucchinchilla View Post
      Looking at the cars on AutoTrader the average mileage is 23K. In the before-times I was in a rental car every other week and there's a big difference between cars that have 5K on the clock and anything close to 20K. Anything more than that just felt trashed. Every surface has been beat on then washed hundreds of times so the paint, wheels, interior plastics, carpets, seats, switch gear, trunk, etc., looked tired and mechanically the cars just feel a bit off. That considered 23K miles on a Hertz Corvette =/= 23K on your average Ford Fusion Hybrid rental car. If I cared about GM and had a big car collection sure I'd toss one into the pile for the novelty but as a primary or 2nd car (i.e. the single fun car for me to enjoy/pamper) that's a very hard pass from me.
      Yeah, 23k rental car miles usually feels about like 80k responsible-owner miles.

      A cheap Z06 is interesting, but a cheap Z06 from Hertz......eh, actually, not gonna lie, still interesting.

    16. Member GTijoejoe's Avatar
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      05-19-2020 01:39 PM #16
      Quote Originally Posted by ghost03 View Post
      Yeah, 23k rental car miles usually feels about like 80k responsible-owner miles.

      A cheap Z06 is interesting, but a cheap Z06 from Hertz......eh, actually, not gonna lie, still interesting.
      I thought the same thing
      2.0T+034efi+meth = 300+whp = RIP

      Quote Originally Posted by Ryukein View Post
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    17. Senior Member
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      05-19-2020 01:45 PM #17
      As I mentioned earlier my shop landlord buys lots of rental cars, mostly enterprise.

      They usually come with 25-30k miles and are VERY clean. I haven't found an issue on any of them outside usually a dent or a scratch and most of the time they pay to have that fixed. (that and the weird specs I noted before)

      He's currently got his daughter in an altima that I didn't see when he first got it, but he is driving it today.. it is mint. He has another loaded one he is personally driving that I borrowed for a weekend to see if the GF wanted to buy, it had 34k? on it and still had protective film all over it, smelled new, not a dent or scratch or issue with the interior. I think sticker was like 31-33k and he was into it for 16,500 I think.


      I have definitely been in some beat up rentals, but all the ones he has had come through are fantastic.

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