Budget Rent a Car
| Company type | Division |
|---|---|
| Industry | Car rental |
| Founded | January 1, 1958 in Los Angeles, California, United States |
| Founder | Morris Mirkin |
| Headquarters | Parsippany , United States |
Area served | Worldwide |
| Parent | Avis Budget Group |
Budget Rent a Car System, Inc. is a United States-based car rental enterprise established in 1958 in Los Angeles, California by Morris Mirkin. The company functions as a division of the Avis Budget Group, with its main offices located in Parsippany, New Jersey.
History
Beginning with just 10 vehicles, Budget set itself apart by providing more affordable daily and per-mile rental fees compared to the dominant airport-centric competitors. In 1959, Julius Lederer partnered with Mirkin, contributing to the company’s international growth. By 1960, the corporate headquarters were relocated to Chicago, Illinois, and the fleet expanded through a combination of franchised and fully owned branches.
Budget was initially acquired by Transamerica Corporation before undergoing a leveraged buyout in 1986, led by CEO Clifton E. Haley along with investors. The firm then entered the public market in 1987.
In 1997, Team Rental Group acquired the publicly traded company and rebranded it as Budget Group. After declaring bankruptcy in 2002, Budget was purchased by Cendant Corporation, which also owned Avis. When Cendant divided into four separate entities in 2006, its vehicle rental division was renamed Avis Budget Group.
Locations
By 2019, Budget maintained 2,275 locations owned directly by the company and 1,650 franchised licensees globally, including 1,925 offices across the Americas and an additional 2,000 sites internationally.
Celebrity spokespersons
In April 2011, actress Wendie Malick, known for her role on Hot in Cleveland, became the face of Budget’s television and internet campaigns advertising limited-time promotional discounts.
See also
- Bob Ansett – Proprietor of Budget Australia