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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
Sears Auto Center
Additional Travel Information
When you’re looking for an Austin rental car deal for your family vacation, Budget car rental off the South Capital of Texas Highway has just what you need. You’ll find minivans equipped with DVD players, hybrids with GPS navigation and SUVs with built-in backup cameras. Rental cars make it easy for your family to travel in comfort and have everything you need on hand for a fun and relaxing stay. Once you’ve decided on a rental car from the Budget South Capital of Texas Highway location, you’ll be ready to drive over to the O. Henry House Museum to learn some great puns to test on each other while driving through town. Just a bit further down the South Capital of Texas Highway, make a stop at the popular Lake Austin, where there is plenty of space for the kids to run and play. You can even pack a picnic lunch and enjoy the afternoon there before heading over to the South Austin Museum of Popular Culture. Before driving back to your hotel, stop by the Ann W. Richards Congress Avenue Bridge, which is home to the world’s biggest urban population of Mexican free tailed bats. Having a rental car makes it easy to travel the South Capital of Texas Highway in Austin and get to attractions such as the city’s museum of art and the Texas State Capitol building. Instead of having to rely on taxis or buses, you’ll be able to tour the city at your own pace. Choose Budget’s affordable and safe rental cars to help you have a relaxing getaway from home. 

Additional Location Information
Select from a wide variety of vehicles at Budget Sears Auto Center, check out the latest Sears Auto Center Car Rental Deals, and be confident that you are getting the best rental rates in Texas !
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