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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
Stewart International Airport
Additional Travel Information
The town of New Windsor in the Hudson Valley is just an hour away from New York City and has many wonderful attractions. Travelers arriving at Stewart International Airport (SWF) can head straight to the Budget Car Rental counter located on airport grounds to choose one of our New Windsor airport car rentals.
Once you have selected a vehicle from our line of Stewart International Airport rental cars, you can drive directly to the city or stick around to see some of the local attractions, like the National Purple Heart Hall of Honor in Vails Gate on the New Windsor Cantonment property. This museum recently opened with the purpose of celebrating Purple Heart honorees, and the whole family will enjoy the costumed commentators and exhibitions here.
For a bit of rest and relaxation, drive your SWF car rental out to the Storm King Art Center where open air trams provide peaceful rides through the United States’s largest outdoor sculpture park. Life-sized modern sculptures can be observed from every angle here as you travel through the magnificently manicured grounds.
Whether you’re planning on driving into New York City or staying in town, trust Budget airport car rentals to get you anywhere you want to go. And don’t forget to sign up for the Fastbreak program.
Additional Location Information
Select from a wide variety of vehicles at Budget Stewart International Airport, check out the latest Stewart International Airport Car Rental Deals, and be confident that you are getting the best rental rates in New York !
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