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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
Washington DC L St Downtown
Additional Travel Information
As the United States capital, Washington, D.C., offers a plethora of things for visitors to do and see, with historic monuments and government sites being of particular interest. Whether you are interested in seeing the White House in person or want to spend your time exploring the Smithsonian National Museum of Natural History, you’ll want to make sure that you get a Washington rental car deal. Rental cars from Budget Rent a Car at M Street Northwest ensure that you can get around the city affordably, and if you opt for GPS, they can also help keep you from getting lost. At the M Street Northwest D.C. location, you’ll find a complete selection of Washington car rentals to choose from, including everything from 2-door compacts to 4-door luxury options. If you want to be sure there’s plenty of room for the kids and souvenirs, consider getting a minivan or SUV from Budget at M Street Northwest. M Street Northwest is in the heart of Washington, and it’s right next to the Vietnam Veterans Memorial, the Library of Congress and the National Zoological Park. It is also just a few miles away from Interstate 66, which crosses the Potomac River to Arlington, Virginia. Interstates 695 and 295 are also nearby, and they connect to and run throughout the state of Maryland. Book with Budget Car Rental at M Street Northwest today to take advantage of affordable car rentals, and don’t forget that by paying in advance, you can save up to 30 percent off the cost of your rental.
Additional Location Information
Select from a wide variety of vehicles at Budget Washington DC L St Downtown, check out the latest Washington DC L St Downtown Car Rental Deals, and be confident that you are getting the best rental rates in District Of Columbia !
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