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Jeff
Hagerty Employee

Hertz selling fleet of Corvette Z06s to stave off bankruptcy

The economic slowdown caused by stay-at-home orders across the country has naturally led to a drastic reduction in travel, particularly work-related travel. That means that business has been tough for rental car company Hertz, which is poised on the brink of bankruptcy.

 

Read the entire article on Hagerty.com:

https://www.hagerty.com/media/news/hertz-sells-fleet-of-corvette-z06s-to-stave-off-bankruptcy/

7 REPLIES 7
mdburnspe
New Driver

Not really in the position to lay down 60K for a used car myself, but I would think the future value of one of these would make for a good investment.  What are your thoughts on that?

Tim
Instructor

I'll wager that $60K in an index fund outperforms the return on investment of one of these cars.

Tim
Instructor

Anyone else get briefly interested until they found out these are all yellow cars priced at no-bargain $60K?

dough
Intermediate Driver

My bet is the majority of them end up being scattered to the winds of classic car auction houses and sold mostly at no reserve or low reserves to get the cash infusion fast.

Bettyemae
Intermediate Driver

Well, they certainly were never abused, right?

Zephyr
Instructor

$60,000 times 25 cars equals $1.5 million, a drop in the bucket compared to the $400 million due. 

Jack_Hagerty
Moderator

My crystal ball says that the 7-speed used Z06 you buy with $10k more will be worth $10k more for a very long time.

 

This IS a cheap way into a 3LZ though...