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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.

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About this location:


Austin Downtown

Additional Travel Information

If you’re planning a trip to Texas with your family, you can get affordable prices from Budget car rental downtown. Located at 1104 North I-35 at 11th Street downtown, you’ll find the Austin car rentals your family needs. We have large SUVs and high-occupancy car rentals that will accommodate up to 12 people as well as smaller economy compacts. Need a ride? Budget can pick you up. Budget rent a car downtown aims to help make your Texas vacation a success.

 There are several attractions in and around the city, and having a rental car will make it easier for you to visit them all. For some outdoor fun, there is Barton Springs Pool and Hamilton Pool, with its own natural waterfall. Both are natural pools with crystal clear water. It’s a short drive just outside the city to Hamilton Pool from downtown. For fun in downtown Austin, try iFly indoor skydiving and the Children’s Museum, a hands-on experience. With GPS navigation in your Budget rental car, you’ll never get lost. This is especially useful if you plan to visit during the SXSW Music Festival. You’ll never miss a performance at any venue.

 With so much to see and do, you won’t want to rely on public transportation. An Austin rental car deal is the answer. Budget rental cars come in all shapes and sizes and optional trip enhancements including GPS, Sirius XM radio, e-Toll and child safety seats, guaranteed to making traveling a breeze Book a Budget downtown car rental today.

Additional Location Information

Select from a wide variety of vehicles at Budget Austin Downtown, check out the latest Austin Downtown Car Rental Deals, and be confident that you are getting the best rental rates in Texas !
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