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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.

… more

About this location:

Location

Santa Barbara Downtown

Additional Travel Information

When your family is planning a vacation to California, a great Santa Barbara rental car deal will help you get to all the fun places the kids want to see. Budget Rent A Car has a convenient location on East Montecito Street, which is just a few miles from places such as the Los Padres National Forest and the city’s zoo. Rental cars are an affordable way to get from your hotel to restaurants, the beach and downtown.The Budget Rent a Car East Montecito Street location even offers pick-up service, so you don’t have to worry about how to retrieve your rental car. Car rentals are recommended for families visiting Santa Barbara because the city is spread out over many miles and has hilly terrain. Your Budget car rental from East Montecito Street will get you from the Channel Islands National Park where you can watch the birds and go geocaching to the Waterfront neighborhood with its many cafes, restaurants and shops.A Budget rental car gives your family the flexibility and space you need for a comfortable drive through the city. After departing East Montecito Street Santa Barbara, you can stretch your legs and put on a DVD or tune into your favorite radio station to occupy the kids on your way to the historic mission building or the Stearns Wharf. Whether your stay in town involves a visit to the annual French Festival or the internationally acclaimed Arts and Crafts Show, book a minivan or sedan from the Budget East Montecito Street location to help to ensure your entire family has a relaxing stay.

Additional Location Information

Select from a wide variety of vehicles at Budget Santa Barbara Downtown, check out the latest Santa Barbara Downtown Car Rental Deals, and be confident that you are getting the best rental rates in California !
Book a Car Rental at Santa Barbara Downtown in 60 seconds!

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