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Our Factsheet
Growing the business since 1958
In Summary: Day after day, Budget employees and operators at approximately 2,700 locations in more than 120 countries help support our vision, mission and values.
Quick History
Budget Rent A Car was founded by Morris Mirkin in 1958 with a $24,000 investment. The company name was chosen to appeal to the “budget-minded” or “value-conscious” renter. In 1959, in an effort to grow the business, Mirkin appealed to a distant relative, Jules Lederer, president of a Chicago-based manufacturer of writing instruments, for additional financing. Lederer formed a leasing company and leased new vehicles to Mirkin. In 1960, Lederer formed Budget Rent A Car Corporation in Chicago. The company then grew rapidly, both nationally and internationally.
In 1986, Gibbons, Green and van Amerongen Ltd. along with management and selected investors purchased Budget from Transamerica Corp. in a LBO transaction. Budget made an initial public offering of 3.2 million shares in 1987.
In 1992, Budget moved downtown Chicago headquarters to Lisle, Ill.
In April 1997, Budget was bought by Team Rental Group, Budget’s largest franchisee in the United States and changed its name to Budget Group, Inc. Budget Group began trading on the NYSE that year.
In 1997, Budget unveiled “Unlimited Budget” a travel agent loyalty program through which members receive a free Unlimited Budget debit MasterCard card and earn points (dollars) for completed bookings.
In 1998, Budget introduced “Fastbreak,” Budget’s express service with paperless transaction.
In 2002, Budget Group was delisted from the NYSE and sold Budget Rent A Car assets in the United States, Canada, Latin America, Caribbean, Australia and New Zealand to Cendant Corporation. Other worldwide assets were sold to Avis Europe, Plc. Later, Cendant moved Budget headquarters from Lisle, Ill. to Parsippany, N.J.
In 2006, Cendant Corporation separated into four independent companies: Realogy, Wyndham Worldwide, Travelport and Avis Budget Group, Inc. As a result, Budget Rent A Car System, Inc. is now a subsidiary of Avis Budget Group.
In 2011, Avis Budget Group, Inc. acquired Avis Europe plc. The transaction re-unites Avis Budget Group with its licensee for Europe, the Middle East, Africa and Asia.
About this location:
Location
North Arlington
Additional Travel Information
Arlington can be a great family vacation destination, especially if you have the transportation details taken care of. When you work with a reliable Arlington car rentals group, you do not have to worry about your family trip being bogged down by public transportation. Budget Rent a Car on East Abram Street offers affordable family travel, providing them with a selection of rental cars that can suit all of their needs. Budget on East Abram Street offers optional trip enhancements including GPS navigation, Sirius XM radio, e-Toll and child safety seats. Need a ride?. Budget car rental East Abram Street location offers a complimentary pick-up service. With your rental vehicle ready, you can head out from East Abram Street Arlington to any variety of destinations. Sports fans can take their whole families to the AT&T Stadium, which features the world’s largest HD video board. For a more educational trip, you can always take your family to the city’s Museum of Art, where you can enjoy any number of exhibits and shopping opportunities. No matter what kind of trip you are planning, visiting Budget’s location at East Abram Street will help make your stay even more enjoyable. Call the professionals and be sure to ask them about what Arlington rental car deal they can offer you or book online at Budget.com and save up to 35 percent on your rental.
Additional Location Information
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