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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
Lynchburg Regional Airport
Additional Travel Information
Lynchburg, Virginia, located in the Blue Ridge Mountains, is the site of the official end to the Civil War and home to the Lynchburg Regional Airport (LYH). Once you’ve landed and after you’ve retrieved your luggage, head over to the Budget Car Rental counter—located in the airport—where you’ll find great deals and an excellent selection of Lynchburg Regional Airport rental cars. Our fleet of airport car rentals has something for everyone, whether you’re looking for a compact or convertible LYH car rental, or you need something bigger like a minivan or SUV.
Once you’re in town, pay a visit to Crabtree Falls in George Washington National Forest. It’s one of the tallest waterfalls east of the Mississippi River, with its largest cascade dropping from a height of approximately 400 feet. The 1.7-mile trail to the five cascades makes for a truly picturesque hike.
Pencil the Anne Spencer House & Garden Museum into your itinerary for a lovely afternoon outside. Anne Spencer was an important African American poet, civil rights activist, and gardener in the 1920s, whose poetry has been published in the Norton Anthology of Modern Poetry and whose garden has been depicted in many gardening magazine publications.
For the kids, the award-winning and hands-on 29,000-square-foot children’s museum at Amazement Square is a fantastic attraction for the whole family. Explore four floors of interactive exhibits that let youngsters paint on walls, create a rainstorm, float a boat and more. The museum also boasts mazes of tunnels, ladders and slides, and even a zipline!
When it comes to Lynchburg airport car rentals, choose the name frequent travelers trust. And don’t forget to sign up for the Fastbreak program.
Additional Location Information
Select from a wide variety of vehicles at Budget Lynchburg Regional Airport, check out the latest Lynchburg Regional Airport Car Rental Deals, and be confident that you are getting the best rental rates in Virginia !
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