Here's how Hertz bankruptcy has impacted used car prices

Updated: 5:40 PM EDT Jun 9, 2020

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BEN: WITH THE PANDEMIC FORCING FAMILIES TO STAY CLOSER TO HOME, THIS YEAR COULD BE THE WORST FOR THE TRAVEL INDUSTRY, BUT ONE OF THE BEST FOR CAR SHOPPERS. AS WE REPORTED LAST MONTH, NO ACTIVITY AT AIRPORTS FORCED HERTZ RENTAL CAR TO DECLARE BANKRUPTCY. THE COMPANY HAS ALREADY STARTED SELLING ITS LARGE FLEET ONLINE AT DISCOUNT PRICES, AND THAT COULD PUT PRESSURE ON OTHER AUTO DEALERS TO DROP THEIR USED CAR PRICES AS WELL. HOW GOOD ARE THE DEALS RIGHT NOW? AUTO WEBSITE I-SEE-CARS.COM ANALYZED SALE PRICES FOR MORE THAN 170,000 VEHICLES ON THE HERTZ WEBSITE LAST MONTH. ALL ARE FROM MODEL YEARS 2017 TO 2019. THE WEBSITE FOUND, HERTZ SELLING CARS FOR NEARLY $1400 LESS ON AVERAGE THAN MARKET VALUE. MANY OF THE HERTZ CARS HAVE HIGHER MILEAGE THAN A TYPICAL USED CAR, BUT EXPERTS SAY, THEYRE ALSO GENERALLY IN GREAT CONDITION WITH A REGULAR MAINTENANCE SCHEDULE. I-SEE-CARS.COM SAYS HERTZ IS OFFERING ITS BIGGEST DISCOUNTS ON LUXURY CARS. AT THE TOP OF THE LIST, BMW 7-SERIES SEDANS SELLING FOR ABOUT $43,000. THATS ABOUT 13.7% LESS THAN MARKET VALUE, OR A SAVINGS OF NEARLY 7,000. THE WEBSITE ALSO FOUND, SHOPPERS CAN GET A MERCEDES CLASS-A SEDAN FOR ABOUT $28,000. THATS 13% LESS THAN OTHER DEALERS, OR A SAVINGS OF 4200. HERTZ IS OFFERING BIG DISCOUNTS ON OTHER TYPES OF VEHICLES TOO. TOYOTA TUNDRA, KIA FORTE, VOLKSWAGEN GOLF, NISSAN SENTRA. ALL AVAILABLE AT PRICES MORE THAN 10% LESS THAN MARKET VALUE. BARGAIN-HUNTERS SHOULD KNOW, YOU WONT BE ABLE TO DRIVE DOWN THESE PRICES EVEN MORE. HERTZ SAYS ITS A ZERO-HAGGLE SELLER, BUT BEFORE YOU BUY, YOU SHOULD STILL INSIST ON TAKING THE CAR TO AN INDEPENDEN

Here's how Hertz bankruptcy has impacted used car prices

Updated: 5:40 PM EDT Jun 9, 2020

No activity at airports forced Hertz Rental Car to declare bankruptcy. The company has already started selling its large fleet online at discount prices, and that could put pressure on other auto dealers to drop their used car prices as well.Auto website iSeeCars.com analyzed sale prices for more than 170,000 vehicles on the Hertz website last month between the model years 2017 to 2019.The website found Hertz selling cars for nearly $1,400 less on average than market value.Many of the Hertz cars have higher mileage than a typical used car, but experts say, they're also generally in great condition with a regular maintenance schedule.The auto website said Hertz was offering the biggest discounts on luxury vehicles, but the website also found discounts for other vehicles as well. The BMW 7 Series, Toyota Tundra, Kia Forte, Volkswagen Golf and Nissan Sentra were all available at prices more than 10 percent less than market value.

No activity at airports forced Hertz Rental Car to declare bankruptcy.

The company has already started selling its large fleet online at discount prices, and that could put pressure on other auto dealers to drop their used car prices as well.

Auto website iSeeCars.com analyzed sale prices for more than 170,000 vehicles on the Hertz website last month between the model years 2017 to 2019.

The website found Hertz selling cars for nearly $1,400 less on average than market value.

Many of the Hertz cars have higher mileage than a typical used car, but experts say, they're also generally in great condition with a regular maintenance schedule.

The auto website said Hertz was offering the biggest discounts on luxury vehicles, but the website also found discounts for other vehicles as well.

The BMW 7 Series, Toyota Tundra, Kia Forte, Volkswagen Golf and Nissan Sentra were all available at prices more than 10 percent less than market value.

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Here's how Hertz bankruptcy has impacted used car prices - WCVB Boston