Looking for an affordable EV? Hertz offers a discount for renters

Hertz has been contacting people who are in the process of leasing electric cars recently to offer them the option of buying the car instead of returning it, reports say. Seaside. And the deals are pretty sweet, according to renters who shared the deals on Reddit.

One borrower is said to have been offered a 2023 Chevy Bolt for $18,442, another was offered a 2023 Tesla Model 3 with 30,000 miles for $17,913, and another won a Polestar 2 for $28,500. On top of that, Hertz offers a limited warranty of 12 months, 12,000-mile powertrain warranty, and the option to buy back within seven days.

The reports come nearly a year after Hertz said it would selling a third of its EV fleetmost of them are Teslas, citing lower demand and higher prices than expected.

Hertz has a history of car sales that it plans to unload, which includes gas-guzzling vehicles, and reach out to borrowers to see if they’re in the market for a rental car. But EV sales are especially popular with buyers looking for a big discount on a car that’s often not worth buying, and, in some cases, with good mileage to begin with.

Due to the rapid sales of new EVs, Hertz recorded a $937 million decrease in vehicle costs in the third parta significant increase compared to the previous year, with a decrease in cost per share of $537. The company said it expects the price per share to be below $300 by the end of 2025.

This article has been updated to include information about Hertz’s car sales business.