Hertz is selling off some of its Tesla models that were formerly rentals, and the vehicles are currently available at some pretty low prices.
As part of the Rent2Buy vehicle sales program on its website, Hertz has listed hundreds of its early Tesla rentals for sale at fairly low prices. The vast majority of the inventory vehicles listed are the Model 3, though you can also see a decent amount of Model Y units listed on the web page. As some have pointed out on X, the Internal Revenue Service (IRS) also offers a reduced electric vehicle (EV) tax credit on used purchases, which could potentially bring these prices down by another $4,000.
While they aren’t available at the time of writing, the X account Rivian Updates was able to find Tesla inventory options on the site for as low as $17,700, potentially bringing the price to as low as $13,700 with the used EV tax credit. At this time, the lowest price available is $20,200 for a 2021 Model 3 Standard Range Plus.
It isn’t clear whether or not the $4,000 used EV credit is available for use with these former Tesla rentals, and Hertz hasn’t yet responded to Teslarati or the original poster as to whether they’re eligible. If so, these would be some pretty impressively low prices for used Tesla vehicles.
I need some advice from my Tesla peeps.
What are your thoughts on buying a used Tesla Model 3 from Hertz for $17,700? With the potential IRA credit, it could be just $13,700
I'm in talks with Hertz to see if they'll apply the IRA credit, but it's not confirmed yet.
Lately I’ve… pic.twitter.com/ZCmerbj7xW
— Rivian Updates (@RivianUpdates) January 9, 2024
Other EVs offered as rentals by Hertz, such as the Polestar 2, don’t appear on the Rent2Buy inventory page, though it could be because the initial wave of these vehicles was delivered after the first of Tesla’s vehicles. This could mean that other EVs will be added to the Hertz car sales listings down the road.
Hertz also details its Rent2Buy program on its website, noting that potential buyers can rent the vehicles for up to three days at a special rental rate, or take a two-hour test drive of the vehicles for free. Hertz will also waive the rental fee for anyone who purchases a vehicle after renting it.
You can watch a short video detailing the Hertz Rent2Buy program below.
Hertz announced a deal to purchase 100,000 of Tesla’s Model 3 vehicles in October 2021, purchasing them at full price, as was later confirmed by CEO Elon Musk. It was later discovered that the massive batch of Tesla vehicles sold to Hertz would also include the Model Y, and you can now rent either from the company’s website.
Shortly thereafter, Hertz began adding the Polestar 2 and other EVs to its potential rental options, and the rental company later went on to debut additional EV partnerships — including one with ride-hailing company Uber.
What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send your tips to us at tips@teslarati.com.
