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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
Beverly Hills
Additional Travel Information
Getting a Beverly Hills rental car deal is an important part of ensuring that you’ll get the most out of a trip to California. Beverly Hills is sprawling and filled with things to do and places to see, including shopping on Rodeo Drive or visiting the Roxbury Memorial Park. The city is also close to a number of popular destinations, like Santa Monica Beach and Disneyland, so you’ll definitely want to look into Beverly Hills car rentals so you can visit these areas.You can pick up your rental car from Budget on Wilshire Boulevard, which is located in the middle of the city. At the Budget Rent a Car Wilshire Boulevard, you can choose from a wide selection of rental cars, which range from economy coupes and sedans to SUVs and minivans. The Wilshire Boulevard Beverly Hills location also allows you to rent one of a number of premium and high-end vehicles, such as a Ford Mustang or Mercedes-Benz E350.Wilshire Boulevard is one of the main roads that run through the city, and it also connects to Interstate 405. Once you’ve picked up your rental, you can head off to Fox Studios or take a trip to the Los Angeles County Museum of Art. If you head east, you can visit the Sunset Strip or drive to Hollywood; heading west will take you to Santa Monica and the coast.To make your car rentals at Budget Car Rental Wilshire Boulevard fast and easy, be sure to take advantage of Fastbreak. Sign up for Fastbreak today, you can save your rental information ahead of time, flash your license; grab your keys and go.
Additional Location Information
Select from a wide variety of vehicles at Budget Beverly Hills, check out the latest Beverly Hills Car Rental Deals, and be confident that you are getting the best rental rates in California !
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