To give one an idea how bad it’s about to get? Most of the major rental car groups are forming a line at the bankruptcy court, with Hertz apparently closest to the check-out window. TIL that a lot of their inventory is actually leased, with the leasing companies being in a big bind as the RAC companies go into arrears on their lease obligations.
The net on this is that I’d wager a bunch of late model used cars get dumped back on the leasing companies... which, unlike aircraft leasing entities, are in a poor position to park a million used cars in the desert for a few years. I’m betting this looks like a liquidation event where 2018-19-20 model year cars get sold at a loss and moved off the books. This will put even more downside pressure on the used car market, but is also likely to result in some damn fine deals on late model used cars. Save your dry powder if you are going into the market this year. A Hertz color Shelby GT, perhaps? Or that C7 parked near the counter at LAX?