Hertz Rent2Buy enters rental company into sales industry

Looking to capitalize on those who want to join in the growth in the auto industry caused by the cash for clunkers program but minimize any increases to their auto insurance rates, Hertz Group Holdings has acquired the assets of Automoti Group Inc. to begin their Rent2Buy program that allows consumers to try their new cars before they buy them.

Looking to capitalize on those who want to join in the growth in the auto industry caused by the cash for clunkers program but minimize any increases to their auto insurance rates, Hertz Group Holdings has acquired the assets of Automoti Group Inc. to begin their Rent2Buy program that allows consumers to try their new cars before they buy them.

Hertz will utilize Automoti's end-to-end technology to track used cars for dealers to sell while lowering overhead costs to decrease their cars' prices up to 30 percent, according to the company's website. The company also has a unique selling process that gives consumers three days to drive the used car and get it inspected before purchasing it outright.

Hertz Group Holdings, which runs Hertz rental car services, will utilize Automoti for its new Rent2Buy program in an attempt to increase the sales of their used rental cars.

"Hertz's newly developed Rent2Buy program is a fast-growing retail sales channel designed to be customer friendly, with a 3-day, try-before-you-buy test drive," said Mark P Frissora, Hertz chairman and CEO. "Through Hertz Rent2Buy, we can extend our product offering by providing customers with a financially attractive solution for purchasing late model used vehicles in a simple, streamlined way."

After the three day test drive, consumers will either be able to return the car to the rental agency or log onto Automoti's website and email a completed bill of sale document.. the service is currently available in eight states, but there are plans to expand into more states in the coming months.

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Posted: August 19, 2009

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