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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
Van Nuys/Sherman Oaks
Additional Travel Information
On your next family vacation trip to the Los Angeles area, pick up an affordable rental car at Oxnard Street in Van Nuys. Budget Rent a Car California offers Van Nuys rental car deals year-round to keep your family comfortable, safe and on the move. Budget Car Rental Oxnard Street is conveniently located near the Ventura, Hollywood and Simi Valley Freeways. Simply take the 405 south to get to Santa Monica and Beverly Hills or go north and travel deeper into the San Fernando Valley. Hop on U.S. Route 101 and then head west to the coast or east to Hollywood and downtown L.A. Budget Oxnard Street makes getting rental cars as easy as possible. Budget Rent a Car Oxnard Street is a participating Fastbreak location. Sign up for Fastbreak and you can save your rental preferences and signature for the fastest, easiest rental experience. Our Oxnard Street office also provides free pick-up service. While you are in the city, see famous locations such as Sound City Studios where “The Office” is filmed and Galpin Auto Sports from “Pimp My Ride.” Take the kids to a cricket match at Woodley Park in the Sepulveda Basin. Check out the neighborhoods of North Hills and Lake Balboa. Cruise down Van Nuys Boulevard and then drive past celebrity homes in Sherman Oaks and Encino. After a busy day, your family can relax next to the serene waters of the Japanese Garden. Let Budget Rent a Car Oxnard Street take care of your Van Nuys car rentals. Visit budget.com or call Budget car rental Oxnard Street to pick out your vehicle today.

Additional Location Information
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