Finding a good deal on a used Chevy Silverado is all about leveraging each and every resource at your disposal. But there’s one resource out there that some buyers may not even consider – rental agencies.
As outlined in a recent post from iSeeCars, buying a used Chevy Silverado pickup truck from a rental agency could bring some serious savings. With the rise of used car prices amid the COVID-19 pandemic, rental agencies could provide a smart alternative to local dealerships or online dealerships.
“As contact-free online dealers have gained popularity as a safe alternative to traditional dealerships, and as struggling car rental companies unload their inventory, consumers might be considering these alternatives to traditional brick and mortar dealerships,” said iSeeCars Executive Analyst, Karl Brauer.
After analyzing more than 8.5 million used car sales across local dealerships, virtual dealerships, and rental car agencies, the rentals agencies were identified as providing the greatest average savings, posting prices 1.6 percent (roughly $303) below market value.
The iSeeCars analysis included a look at used Chevy Silverado 1500 models, and found that rental agency listings provided on average of 6.6 percent savings under the average market value. By comparison, prices at local dealers were 0.3 percent over the average market value, while prices at virtual dealers were 2.5 percent over the average market value.
“Over 98 percent of used car inventory at rental car companies is three-years-old or newer, so these deals will only apply to shoppers looking for newer model year versions of these vehicles,” Brauer said.
Additionally, iSeeCars also determined that among the most popular vehicles purchased from rental car agencies, used Chevy Silverado 1500 models represent the greatest savings, with an average of $2,016.
“With truck demand particularly high over the last several months, it can be tough to find a good deal,” Brauer said. “Consumers looking for a late-model, full-size used truck should consider local rental car sales inventory.”
Would you buy a used Chevy Silverado 1500 from a rental agency? Let us know your thoughts by posting in the comments, and make sure to subscribe to GM Authority for more Chevrolet Silverado news, Chevrolet news, and around-the-clock GM news coverage.
Comments
I have an Enterprise car sales dealership near me and their prices are never lower than the dealerships. I’ve seen some decent deals from Hertz but can easily find better from non rental car sales outlets.
When Mary Barra took over GM she claimed that GM would cut fleet sales. When Hertz went bankrupt a few months ago, It was revealed that over twenty five percent of Hertz fleet were GM vehicles. The highest of any auto manufacturer.
And? Your point?
I think that I would be willing to pay an extra $303 to get a truck that was previously owned by an individual rather than a rental car company.
Trucks have a special case: rental car trucks have never towed or hauled anything heavy and have had limited off-road use versus a leased or sold truck.
In general, a 1-2 year old used car that’s came from an individual may be because the owner didn’t like it, but also because it was repo’ed and maintenance was neglected. With rental car fleets, you basically know the level of abuse, versus an individual which may have been much better or much worse.
Lol, when I was younger and I rented a truck I can honestly guarantee you I abused the hell out of it, taking it to the fields, doing donuts on grass etc. there is no such thing as breaking in the engine. These vehicles have been abused and an average savings of $300 dollars just seems like you’d spend that much on renting cars for the breakdowns
And how is that different from people who lease a truck knowing they’ll hand it back after 3 years? How is that different from a repo when the owner knows they’re behind on their payments?
At least in the car rental case the contract says you can’t take it off road, and that drivers have to be 25+. None of this is required in a leased or owned vehicle.
Enterprise Rental financially scamed my bank checking account causing bounces and overdraft fees. Hertz never shows up with vehicle requested during airport travel rentals and airline flight delays.
So why chance buying abused junk priced higher than reputable used car dealers?
I think the resale price should be a lot better discount. The rental company has had a good tax break and made money from that renting their fleet.
Jonathan, I understand “phase 3” started… is it possible to order the 3.0 oil burner? Also, is “air ride with magnetic” available to order yet? thank you, Steve
As long as it’s not a 4WD I wouldn’t have a problem. You can imagine what someone rents a 4WD truck for, it’s been jumping ditches, climbing over rocks and swimming through the swamps.
Buying a rental truck is like selecting a wife at your local brothel.
Just as I predicted!
I deal with vehicle rental companies on the regular, and they cheap out big time on repairs.
Exactly. Idiots would buy these
Beating a rent is so common there is even an old saying……don’t be gentle its a rental.
What a one sided article, really a $303 savings “wow”. The rental companies are the ones hurting, I think you can do a lot better. They can always keep their cars, if they don’t like the offer.
I’m a technician with one of the big 3 rental companies and I won’t buy a rental either. It has nothing to do with the quality of repairs, but how the vehicles are treated by the customers. The interiors of some of these cars are left absolutely disgusting, people treat them like their personal dumpsters – along with rotting food, vomit, urine – in turn attracting bugs and rats. I don’t know how some customers return them and aren’t embarrassed by the condition they left it. And everybody knows how they’re driven. To add to that though, If it’s a V8 car like a charger/challenger/mustang/camaro then you can count on MANY burnouts. We replace rear tires on those almost every 5-10k miles.
Be careful, often standard equipment is left off of Rental fleet orders. So an ” LT ” may not really be an LT like you have seen or researched at your local dealer. This keeps cost down for the rental companies but can cause you grief if you buy one.
only rentals I see for sale are always lt trim without all-star package plus the beds are beat up because they always have brand new plastic bedliner – just like the dealers do when they get a beat box they think they are slick
I’ve seen and gotten a lot better deals from Carmax on used vehicles that were in a corporate fleet of some kind, usually drug rep vehicles.