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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
Elk Grove Village
Additional Travel Information
Wind down from the frenetic pace of the Chicago metropolitan area when you visit nearby Elk Grove Village, an oasis of lush, green parks, protected forest lands and lakes where time seems to flow at a more leisurely rate. Stop off at Budget Rent a Car on Landmeier Road for car rentals and then set out on a relaxing tour of the surrounding area. When you start your trip at Budget on Landmeier Road, you open up your family vacation to endless possibilities. If you are visiting the area in June, enjoy the Rotary Fest Carnival and Hometown Parade. In July, the annual Midsummer Concert Series takes place in the cool of the evening on the Village Green, an easy drive from Budget Landmeier Road. Offering over 44 parks and 19 tennis courts for public use, this family-friendly town provides plenty of fun opportunities for your entire crew. The Jack A. Claes Pavilion is one of the town’s most popular visitor destinations that is just a short jaunt from Landmeier Road in Elk Grove Village. A carousel, racquetball courts, indoor and outdoor swimming pools and a fitness center promise to keep everyone busy throughout the day. Your Budget Car Rental Landmeier Road office can provide you with more information about the area’s recreational options. With a car from Elk Grove Village car rentals, you can drive from Landmeier Road to the Busse Woods Forest Preserve where miles of hiking and biking paths bring you close to nature. Elk viewing and fishing for northern pike in the 590-acre Busse Lake make wonderful memories on your Illinois vacation. Go online and choose a car with GPS so that you can navigate through town with ease.
Additional Location Information
Select from a wide variety of vehicles at Budget Elk Grove Village, check out the latest Elk Grove Village Car Rental Deals, and be confident that you are getting the best rental rates in Illinois !
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