Do you want a cheap electric car? Hertz distributes discounts to renters

Hertz recently contacted people who are in the middle of leasing electric cars to offer them the option of buying the car instead of returning it, according to reports. Edge. And the deals are pretty great, according to some renters who shared the deals on Reddit.

One renter was reportedly offered a 2023 Chevy Bolt for $18,442, another was offered a 2023 Tesla Model 3 with just 30,000 miles for $17,913, and another got an offer on a Polestar 2 for $28,500. What’s more, Hertz offers a 12-month, 12,000-mile powertrain limited warranty and a seven-day buyback offer.

The move to offload its fleet of electric vehicles, most of which are Tesla, comes nearly a year after Hertz announced it would do so. Selling a third of its fleet of electric carsDue to lower demand and higher than expected repair costs.

Partly due to the accelerating sales of new electric vehicles, Hertz recorded a $937 million impairment in vehicle value in Third quartera significant increase compared to the previous year, and a decrease in unit value of $537. The company said it expects unit depreciation to return to below $300 by the end of 2025.