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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
Santa Monica
Additional Travel Information
If you are planning a trip to Santa Monica in the future, you will appreciate the convenience and ease with which you can pick up a rental car. Budget Rent a Car has several locations throughout the city and offers complimentary pick-up service in some areas for customers needing rental cars. With Budget Rent a Car Broadway, you can rest assured that you’ll find the rental car deal that best fits your needs.Broadway Santa Monica car rentals are highly recommended because of the size of the local metropolitan area. There are numerous attractions throughout this popular beachfront community as well as in other parts of Los Angeles County. A Broadway Santa Monica rental car will help you set your own itinerary for visiting family-friendly attractions like the iconic pier, Looff Hippodrome and Museum of Art as well as the Third Street Promenade. Whether you need the room of a minivan or want to drop the top and cruise the strip in a convertible, the wide selection available at Budget car rental on Broadway provides the answer.Enjoy greater flexibility during your stay with Santa Monica car rentals instead of relying on scheduled public transport to see Palisades Park and the famous scenic staircase that leads into the nearby canyon. A Santa Monica rental car deal can be very affordable and convenient, and you can always find the best rental option for your specific needs during your trip. Whether your family’s itinerary for a California getaway includes sunny beaches, trendy shopping or famous attractions, rent a car from Budget Broadway to make this dream vacation a reality.
Additional Location Information
Select from a wide variety of vehicles at Budget Santa Monica, check out the latest Santa Monica Car Rental Deals, and be confident that you are getting the best rental rates in California !
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