In a NutshellEnterprise’s used car sales may help you find a deal on a lightly used car. Whether these used vehicles are a good fit for you needs depends on your circumstances.
You may be able to find a deal buying a used rental car from Enterprise, but you’ll want to consider a number of factors before you make this choice.
New cars often depreciate heavily in the first years of ownership, so purchasing a used car can be a wise financial decision — and rental car company Enterprise sells its used rental vehicles, sometimes at prices lower than other used-car dealerships.
Buying a car from Enterprise may be attractive if you’re looking to save money, but used rental cars have some drawbacks. You don’t know who drove each rental car and how hard renters drove it. This could affect a car’s future longevity and value. As you can imagine, evaluating a used rental car is tricky.
You’ll have to line up auto financing even if the car is a good fit. Enterprise works with lending partners to offer loans, but you should compare any dealership’s offer to private loan quotes you’ve received to find the best deal.
If you think buying a used car from Enterprise may be a good fit, here’s what you should know before getting started.
- Is buying a car from Enterprise a good idea?
- Pros and cons of buying a used car from Enterprise
- How to buy an Enterprise used car
- Which other rental car companies sell their used cars?
- Enterprise auto loans
Is buying a car from Enterprise a good idea?
Used cars are often cheaper than new cars because of the depreciation that occurs over time. Enterprise’s used cars may seem like a good deal on the surface, but pricing may not always be the best around.
CarMax or other used-car dealerships sometimes offer lower prices than Enterprise on comparable models. Like any significant purchase, you should shop around to ensure you’re getting the best price.
Each driver who rents a car may drive it differently, which could result in aggressive use. On the other hand, many rental drivers don’t want to risk rental damage charges and drive vehicles as they would drive their own.
Buying one of Enterprise’s used cars may make sense if you’re looking to save money on a newer vehicle with higher mileage. Someone who drives very little around town may be able to use the car for their needs.
Over time, the high mileage from Enterprise’s rental activity may even out with your low usage. This could bring the car’s mileage in line with other similarly aged vehicles in a few years when you’re ready to sell the car.
Pros and cons of buying a used car from Enterprise
Buying a used car from Enterprise could save money, but there are some drawbacks.
- Potential lower cost at no haggle pricing — The sticker price you see online is the price you pay, not counting any applicable fees, taxes and other charges.
- Limited powertrain warranty — Get a 12-month/12,000-mile warranty (whichever comes first) on powertrain components.
- Enterprise certified — All vehicles are certified by Enterprise’s ASE-certified technicians before being put up for sale.
- Seven-day return policy — Return the car for any reason within seven days or 1,000 miles, whichever comes first, and receive a full-priced refund minus a $200 restocking fee.
- Driven by several unknown drivers — You don’t know how each person who rented the car drove it. Someone may have exceeded recommended usage during the break-in period, causing unknown damage.
- Lower resale value due to fleet history — A car owned by a rental company will show up as a fleet vehicle on a Carfax report. This can lower the car’s resale value down the road.
- Selection of cars — The used cars Enterprise sells are the same vehicles used in its fleet. This isn’t a wide range of vehicles from all manufacturers but is instead concentrated within certain brands and models.
How to buy an Enterprise used car
The process of buying an Enterprise used car is relatively straightforward. You can view inventory online or visit a local Enterprise used-car dealership to browse inventory in person. You can look at cars and even schedule a test drive of any vehicle you’re interested in.
Once you’ve decided on a vehicle, you can pay the price in cash, apply for financing through Enterprise or provide your own financing. Enterprise uses no-haggle pricing, so the price you see is the price you pay, plus any applicable fees and taxes. This is like buying a used car at other no-haggle car dealerships.
Which other rental car companies sell their used cars?
While each company has its own methods for disposing of its rental cars after use, there are other rental car companies that sell cars from their fleets.
Hertz sells its used rental vehicles with no-haggle pricing and even offers home delivery. Cars come with a seven-day, 250-mile (whichever comes first) buy-back guarantee. Like Enterprise sales, Hertz’s used cars come with a 12-month/12,000-mile limited powertrain warranty.
Avis sells some of its rental vehicles as Avis-certified preowned cars. Like Enterprise, Avis’s vehicles come with a 12-month/12,000-mile powertrain component warranty and a full year of 24-hour emergency roadside assistance. You can test drive the car for two hours or keep it for two days for as little as $70 per day to see if it’s a good fit before buying.
Enterprise auto loans
Enterprise doesn’t offer direct financing, but it works with Chase to provide Enterprise auto finance loans. Chase owns the loans created through Enterprise transactions.
Enterprise may also work with other lenders but doesn’t disclose this information on its website.
If you’re buying a car from Enterprise, you don’t have to use a loan through an Enterprise partner. You can line up financing before heading to the dealership to make sure you get the best loan terms possible. It’s a good idea to shop around with multiple lenders to find the best rates you can qualify for.
Start looking for cars on the Enterprise website if you’ve decided to buy a rental car through the company. Before you head to the dealership to test drive and purchase a vehicle, get financing quotes and see what loans you’re eligible for.