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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
Lexington Hotel on Riverwalk
Additional Travel Information
When you and your family are visiting Jacksonville, securing personal transportation during your stay is always a smart choice. When you shop with Budget Rent a Car on Prudential Drive, our friendly employees will be happy to help you browse through a selection of high-quality rental cars that include compact economy cars, sedans, full-sized SUVs, and fuel-efficient hybrids. Many of Budget on Prudential Drive’s vehicles also include additional features, such as e-Toll additions and navigational screens for out-of-town drivers’ convenience.When you have found the perfect car rental at Prudential Drive, the rest of the city is only a short drive away. One of the first attractions that you and your family should visit is the Riverwalk, an open-air marketplace with an assortment of interesting shops and restaurants. If you are looking for something more relaxing, take a trip to Hanna Park and enjoy the local scenery. Sports enthusiasts will love EverBank Field, where local games are hosted every week.If you’re not able to come to our Budget car rental Prudential Drive lot, we will be happy to dispatch a driver to pick you up. Once you are at Prudential Drive Jacksonville, you will be able to discuss what you are looking for with our highly knowledgeable representatives and browse through an array of top-quality vehicles. Be sure to call us today and see what kind of Jacksonville rental car deal is right for you.
Additional Location Information
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