Rate Budget Car Rental
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
Bethesda-Sears Auto Center
Additional Travel Information
Make Bethesda your home base on your upcoming family trip to the Washington area. Budget Rent a Car on Democracy Boulevard makes it easy and convenient to see all of the surrounding sights with affordable Bethesda car rentals. Staying in the nation’s capital can be pricey, so enjoy family accommodations near Democracy Boulevard in Bethesda and drive to the historic destinations your family wants to visit most. A bustling metropolitan locale, the area provides a host of entertainment and cultural experiences. Approximately 200 restaurants, plenty of art galleries, two live theater venues and exceptional shopping make this Maryland city an exciting vacation destination. If you are visiting the area for medical care, the Naval Medical Center and the National Institutes of Health are both just a short drive away from Budget at Democracy Boulevard. Your Budget car rental from Democracy Boulevard saves you time. It only takes 60 seconds to book USA rental cars, and Budget’s Fastbreak option is specially designed for quick pick-up. Just flash your license, get your car keys and go. Book online to save as much as 30 percent on your Budget car rentals. Whether you’ve planned a visit to the White House or a day shopping for antiques, rent a car from the Democracy Boulevard location to make your Washington area vacation the best ever. Be sure to book ahead to get the best Bethesda rental car deal.
Additional Location Information
Select from a wide variety of vehicles at Budget Bethesda-Sears Auto Center, check out the latest Bethesda-Sears Auto Center Car Rental Deals, and be confident that you are getting the best rental rates in Maryland !
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