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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
Pensacola-Sears Auto Center
Additional Travel Information
Filled with beautiful beaches and historic attractions, Pensacola is a great place to take the family for your next vacation. The Gulf of Mexico provides travelers with comfortable weather all year long, and the city provides countless opportunities for fishing and boating activities, including parasailing and snorkeling. When you’re in town, don’t forget to check out the National Naval Aviation Museum. There, you can see planes that predate the Civil War before watching your children build castles in the sand along Florida’s Gulf Coast. Whether you are planning on reveling in the rich history of the city or spending your time on the water, Budget at Creighton can make your travels easier.You can find Budget car rentals on North Davis Highway at Creighton in Pensacola. The included GPS and e-Toll system will help you get around Creighton Road and major highways. Budget is focused on making your travels easier and safer with optional equipment like storage racks and child safety seats. Check out our available rental cars online, and choose from sedans, minivans and fuel-efficient vehicles to suit your family’s needs. You can gain access to Pensacola rental car deals by signing up for emails or one of the Smart Car Rental Programs. Budget keeps both your travel needs and your wallet in mind.When you are looking for Pensacola car rentals, Budget is available online, and our Creighton Road location is ready to help you make smart decisions for your trip. With great rental rates, we help you manage your fun and relaxation more efficiently. The next time you find yourself touring the Florida Panhandle, choose Budget for your rental car.
Additional Location Information
Select from a wide variety of vehicles at Budget Pensacola-Sears Auto Center, check out the latest Pensacola-Sears Auto Center Car Rental Deals, and be confident that you are getting the best rental rates in Florida !
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