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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
Alexandria, VA-Sears Auto Ctr
Additional Travel Information
Northern Virginia makes a great destination for your next family road trip. The area in and around the city offers many attractions that will appeal to the whole family. Founded in 1695, the city exudes a unique charm, with many historic streets and buildings in the Old Town. Families looking for an educational experience should head over to the Black History Museum, located in the downtown area. Be sure to visit the nearby arts neighborhood of Del Ray, where local crafts, fine art and stylish boutiques reside side by side. Budget Rent a Car on Duke Street is the first choice for families looking for an affordable and spacious Alexandria rental car deal. Choose from a wide selection of affordable rental cars on Duke Street, Alexandria. Budget on Duke Street in Alexandria is the leading car rental location in the area and is the launching point for the perfect family road trip. Save money on gas with one of our many fuel-efficient vehicle options. Have a large family? Then drive away in one of our spacious and comfortable minivans. Whatever your needs, Budget car rental Duke Street has the perfect vehicle for you and your family. We have the best selections of Alexandria car rentals. Spend time vacationing with your family, not worrying about the car. Budget on Duke Street is centrally located, just a few blocks from the city center, making car rentals close as well as affordable. Getting the perfect vehicle for your next family road trip is a snap, taking the stress out of vacation planning and getting you on the road.
Additional Location Information
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