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What Should I Know About Buying a Former Rental Car?

It pays to get all the facts before you consider buying a former rental car. Photo credit: Robert Haverly on Unsplash

Many rental car companies offer their former rental vehicles for sale—often at prices below market value and with warranties that seem reasonable. Buying a former rental car sounds like a good way to get a good deal. After all, rental companies regularly service and maintain their vehicles; what could go wrong? Here’s what you should know.

What Happens to My Car’s Value After an Accident?

Two drivers inspect damage to their cars after an accident

After a car accident, your car may lose resale value, even if you have it repaired. This is known as diminished value. Diminished value affects you according to the details of the damage, the repairs, your insurance, and the state where you live. How should you handle this if it happens to you? Here’s what you should know.