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Old 05-18-2020, 4:13pm   #1
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Default Pssssst.... Wanna buy a Z06 for cheap????

Hertz Just Dumped A Bunch Of Cheap Z06 Corvettes Onto The Market

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Old 05-18-2020, 4:19pm   #2
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Buying a used Vette from Hertz is about like marrying a hooker. All wore out and used up.
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Old 05-18-2020, 4:22pm   #3
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Key Features:

~ clear titles

~ regular maintenance

~ rode hard

~ put away wet
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Old 05-18-2020, 4:24pm   #4
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HERTZ going BK??? bullshit......gotta be kidding me....

I know that there are many '18 NEW cars on the lots for sale...

but for Hertz to be BK?? jeez......
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Old 05-18-2020, 4:25pm   #5
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ugly color
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Old 05-18-2020, 4:28pm   #6
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ugly color
[Raazor] [Raazor]
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Old 05-18-2020, 4:31pm   #7
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I knew someone who bought a rental.. She was dumb as dirt and that POS she bought was a complete turd.
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Old 05-18-2020, 4:32pm   #8
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Yellow. Just say no.
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Old 05-18-2020, 4:33pm   #9
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Originally Posted by mrvette View Post
HERTZ going BK??? bullshit......gotta be kidding me....

I know that there are many '18 NEW cars on the lots for sale...

but for Hertz to be BK?? jeez......
Not BS. They are looking down the barrel

https://finance.yahoo.com/news/car-r...163339521.html

(Reuters) - Struggling car rental company Hertz Global Holdings Inc said on Tuesday its lenders have extended the deadline for certain loan repayments, giving it more time to come up with a financing plan to avoid a possible bankruptcy.

The deadline has now been extended until May 22, the company said in a filing. The earlier deadline was May 4 and it has been in talks with the lenders after skipping a payment that was due April 27.

Hertz said it will talk to stakeholders to draw up a strategy that would account for the economic impact of COVID-19 pandemic and its cash needs.

The Estero, Florida-based company, whose largest shareholder is billionaire investor Carl Icahn with 38.9% stake as of March 11, is reeling from the impact of the health crisis on global travel.

Last month, it decided to lay off 10,000 employees across its North America operations from a workforce that totaled 38,000 at 2019 end and enlisted restructuring experts to address a cash crunch that made its $17 billion debt potentially unsustainable. [nL4N2C84L9] [nL2N2C32V3] Hertz's preparations for a possible bankruptcy have been accelerating, Reuters reported last week. [nL1N2CH1X9]

Even before the pandemic, Hertz and its peers were under financial pressure as travelers shifted to ride-hailing services such as Uber Technologies Inc.

"In light of the impact of the COVID-19 global pandemic on the travel industry, Hertz believes it will not need to acquire new vehicles for its fleet through the remainder of 2020," Hertz said in the filing https://bit.ly/35z3q49.

"While Hertz has taken aggressive action to eliminate costs, it faces significant ongoing operating expenses."

Shares of Hertz, which fell as much as 22% earlier in the day after a report said the company was preparing for a bankruptcy filing, pared some losses and were down about 14.2% in afternoon trading.
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Old 05-18-2020, 4:41pm   #10
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Originally Posted by mrvette View Post
HERTZ going BK??? bullshit......gotta be kidding me....

I know that there are many '18 NEW cars on the lots for sale...

but for Hertz to be BK?? jeez......
Nobody has been renting cars for the past 3 months. WhereTF have you been?
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Old 05-18-2020, 4:42pm   #11
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Quote:
Originally Posted by 99 pewtercoupe View Post
Not BS. They are looking down the barrel
That's a shame - Hertz is my favorite company to rent from. I love being able to walk off the plane and straight into my car.
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Old 05-18-2020, 4:46pm   #12
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Hertz needs to shed massive amounts of debt. Almost all of their fleet is leased. Over 560,000 vehicles in the US equates to over 13B in debt.
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Old 05-18-2020, 4:46pm   #13
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Originally Posted by dvarapala View Post
That's a shame - Hertz is my favorite company to rent from. I love being able to walk off the plane and straight into my car.
I hear ya. Been a Gold member for longer than I can recall.
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Old 05-18-2020, 4:52pm   #14
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Quote:
Originally Posted by Rodnok1 View Post
I knew someone who bought a rental.. She was dumb as dirt and that POS she bought was a complete turd.
My friend bought a Corolla from Enterprise and kept that car for probably 20 years. Had it repainted once because it sat outside, but it ran and ran and ran until his kid crashed it and totalled it out.

Of course, people renting shitbox Corollas probably aren't putting the hammer down like they would with the Z06's, so there's that.
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Old 05-18-2020, 4:58pm   #15
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We bought a LeBaron convertible from Enterprise for my wife. She drove it for several years and we ended up on trading it in for the 99 Vette. The sales guy told us he was gonna buy the LeBaron from the dealership since it was a perfect car for his daughter.
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Old 05-18-2020, 5:03pm   #16
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too many people and too many companies have too much debt.
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Old 05-18-2020, 5:22pm   #17
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Old 05-18-2020, 6:01pm   #18
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Old 05-18-2020, 6:08pm   #19
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Those will likely be highly collectible 20-30 years from now...well except for the automatic trannies.
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Old 05-18-2020, 6:12pm   #20
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At the last used car lot I worked at we bought lots of used rentals from Enterprise. Trust me, they were much better cars than we were buying at the auction. In general, I feel like if a car is at the auction, there's a reason. There are exceptions to that, of course.
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