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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
Sears Auto Center
Additional Travel Information
The Budget Rent a Car Fox Valley Center location offers awesome year-round deals on car rentals. With the long highway stretches Illinois is known for, these affordable Budget Fox Valley Center rental cars come in handy; exploration is way more fun when you don’t spend your trip budget on transportation. Fox Valley Center in Aurora is also a great location for those seeking excitement in the city. Whether you want to discover eons of natural history at the Field Museum or take in a live show at the historic Paramount Theatre, Budget car rental at Fox Valley Center places you in a convenient spot to pick and choose where you’re ultimately headed regardless how far you prefer to plan ahead. Our Fox Valley Center team is also known for making spur-of-the-moment trips easier by including vehicle add-ons, like satellite navigation systems, so ask about upgrades at the rental desk. You can customize your Aurora rental car deal online ahead of time and rely on everything to be ready when it’s time to start your trip. Make travel easier on yourself with our insurance coverages and perks, like fee-free additional driver policies for spouses, domestic partners and qualified family members. You can even drive vehicles you pick up here in Aurora into Canada and all over the continental U.S., so no road trip should be too daunting to enjoy. Plan a more exciting holiday excursion by making your reservation today.
Additional Location Information
Select from a wide variety of vehicles at Budget Sears Auto Center, check out the latest Sears Auto Center Car Rental Deals, and be confident that you are getting the best rental rates in Illinois !
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