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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
Aurora
Additional Travel Information
Budget on North Lake Street can provide you with an Aurora rental car deal that will take care of your transportation needs on your family trip to the second largest city in Illinois. We are located at 1311 North Lake Street, close to Provena Mercy Medical Center. You can browse our selection of rental cars online to find compacts, sedans, convertibles, SUVs and luxury cars. Our rental cars are reasonably priced and full of features that let you travel safely and comfortably, such as cruise control, air conditioning, power steering and remote keyless entry. Depending on your tastes and how much room you need, you can find the vehicle that you need to explore the city as your schedule demands. With a vehicle from our Budget location at North Lake Street in Aurora, you will be able to visit some of the area’s family-friendly attractions, such as Phillips Park Zoo. After looking at the animals, which include colorful peacocks, you might play a few rounds of golf at Phillips Park Golf Course, which is right next to the zoo. The city has some great places to see concerts and plays as well, such as Riverfront Playhouse and the Paramount Theatre. If you want to find some shopping bargains, drive over to Chicago Premium Outlets, where you can find designer labels at discount prices. These and other attractions will be easy to visit with a car from Budget North Lake Street. Before you leave on your trip, make sure you reserve a car from Budget Rent a Car at North Lake Street. Budget car rentals allow you to be independent when you travel.
Additional Location Information
Select from a wide variety of vehicles at Budget Aurora, check out the latest Aurora Car Rental Deals, and be confident that you are getting the best rental rates in Illinois !
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