Who Owns Payless Car Rental?
Payless Car Rental is owned by Avis Budget Group, Inc. (NASDAQ: CAR), a publicly traded vehicle rental company headquartered in Parsippany, New Jersey. Founded in 1971 in Spokane, Washington, Payless is a deep-value rental brand serving price-conscious leisure and business travelers at roughly 120 corporate and franchise locations across the United States, Canada, Europe, and South America.
Parent Company
Acquired
2013
Status
Publicly Traded
Headquarters
Payless Car Rental Timeline
Who Owns Payless Car Rental?
- Parent Company: Avis Budget Group, Inc.
- Ownership Type: Subsidiary
- Acquisition Year: 2013
- Company Type: Publicly Traded
- Stock Ticker: NASDAQ: CAR
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Payless Car Rental | Avis Budget Group, Inc. | Subsidiary |
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History of Payless Car Rental
- Founded: 1971
- Founders: John Les Netterstron
- Acquired by Avis Budget Group, Inc.: 2013
John Les Netterstron opened the first Payless Car Rental in Spokane, Washington, in 1971. The concept was simple: undercut the big national brands on rate for price-driven leisure travelers, operating lean at off-airport and secondary locations.
The company grew into a franchise system with more than 100 offices across the United States by the late 1980s, when it acquired the US operations of Canada's Holiday Rent a Car and built its first automated central reservation system. The Payless visual identity established in 1989 has persisted with only minor changes.
Corporate-operated stores arrived in 2002, opening a mixed model of company and franchise locations that continues today. In July 2013, Avis Budget Group acquired the chain for a reported $50 million, slotting it below Budget in the portfolio as the group's dedicated deep-value brand alongside the later international additions Apex and Maggiore.
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About Avis Budget Group, Inc.
What brands does Avis Budget own?
Avis, Budget, Budget Truck, Zipcar, and Payless, operating across about 180 countries.
Is Avis Budget publicly traded?
Yes. It trades on NASDAQ under ticker CAR and has been independent since the 2006 Cendant spin-off.
Does Avis own Zipcar?
Yes. Avis Budget Group acquired Zipcar in 2013 for approximately $500 million.
Who is the CEO of Avis Budget?
Joe Ferraro, a longtime company executive, has been CEO since June 2025.
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Where is Avis Budget headquartered?
Parsippany, New Jersey, USA.
- Founded: 2006
- Headquarters: Parsippany, New Jersey, USA
- Company Type: Publicly Traded
- Stock: NASDAQ: CAR
- Revenue: Approximately $11.8 billion (FY2024)
- Employees: Approximately 20,500
Where Is Payless Car Rental Made / Based?
- Headquarters: St. Petersburg, Florida, USA
Payless Car Rental Categories & Tags
Brands Owned by Avis Budget Group, Inc.
Travel HospitalityApex Car Rentals
Owned by Avis Budget Group, Inc.
Avis Budget Group's off-airport value car rental brand for New Zealand and Australia, operating about 30 locations for more than 25 years.
car-rentalnew-zealandaustralia
Travel HospitalityAvis
Owned by Avis Budget Group, Inc.
Premium car rental brand of Avis Budget Group, the NASDAQ-listed company behind Avis, Budget, and Zipcar, operating worldwide since 1946.
car-rentaltravelairport-rental
Travel HospitalityBudget Truck Rental
Owned by Avis Budget Group, Inc.
Avis Budget Group's consumer and light commercial truck rental brand, formed in 1998 from the Ryder TRS acquisition and operating more than 1,600 US locations.
truck-rentalmovingdiy-moving
Travel HospitalityBudget
Owned by Avis Budget Group, Inc.
Value-oriented car rental brand of Avis Budget Group, operating Budget car rental and Budget Truck moving services worldwide since 1958.
car-rentaltruck-rentaltravel
Travel HospitalityMaggiore
Owned by Avis Budget Group, Inc.
Avis Budget Group's Italian car rental brand, founded in 1947 as Italy's first self-drive rental company and acquired in 2015.
car-rentalitalyeurope
Travel HospitalityZipcar
Owned by Avis Budget Group, Inc.
Car-sharing brand owned by Avis Budget Group since 2013, offering hourly self-serve vehicle access in cities and on university campuses.
car-sharingmobilityurban-transport
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Payless Car Rental Ownership: Pros & Cons
Advantages
- +Deep-value positioning captures the most price-driven demand
- +Franchise model keeps capital requirements low
- +Avis Budget fleet purchasing and reservation infrastructure behind it
- +Established 50-plus-year name in discount rental
- +Complementary demand pattern below the group's flagship brands
Considerations
- -Older fleet and lean service generate mixed customer reviews
- -Franchise variability makes the experience inconsistent
- -Thin margins leave little room for rate shocks
- -Competes against both dedicated discounters and the majors' own value rates
Frequently Asked Questions About Payless Car Rental
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Sources & Further Reading
- Payless Car Rental
- Avis Budget Group About Us
- Avis Budget Group Investor Relations
- Avis Budget Group 10-K (SEC EDGAR)
- Avis Budget Group Company Page — /companies/avis-budget-group
Competitors to Payless Car Rental
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Avis Budget Group | New Zealand | 1992 | Mass market | Regional | All Genders | |
| Avis Budget Group | USA | 1946 | Mass market | Global | All Genders | |
| Avis Budget Group | Italy | 1947 | Mass market | Europe | All Genders |
Learn More About Competitors
Travel HospitalityApex Car Rentals
Owned by Avis Budget Group, Inc.
Avis Budget Group's off-airport value car rental brand for New Zealand and Australia, operating about 30 locations for more than 25 years.
car-rentalnew-zealandaustralia
Travel HospitalityAvis
Owned by Avis Budget Group, Inc.
Premium car rental brand of Avis Budget Group, the NASDAQ-listed company behind Avis, Budget, and Zipcar, operating worldwide since 1946.
car-rentaltravelairport-rental
Travel HospitalityMaggiore
Owned by Avis Budget Group, Inc.
Avis Budget Group's Italian car rental brand, founded in 1947 as Italy's first self-drive rental company and acquired in 2015.
car-rentalitalyeurope
Competitive Analysis
Market Positioning: Payless Car Rental competes with 3 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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Independent Alternatives to Payless Car Rental
Looking for brands with different ownership structures? These similar brands are not owned by Avis Budget Group, Inc., giving you alternative choices that support different corporate structures.
Travel HospitalityHarborside Resort at Atlantis
Owned by Kerzner International Holdings Limited
Villa-style accommodation complex at Atlantis Paradise Island featuring residential-style layouts, full kitchens, and family-friendly amenities across the marina from the main resort.
villa-resortfamily-accommodationmarina-location
Privately Owned
Harborside Resort at Atlantis is privately owned, unlike Payless Car Rental which is under a publicly traded parent company.
Travel HospitalityThe Beach Tower
Owned by Kerzner International Holdings Limited
Former hotel tower at Atlantis Paradise Island that was closed in 2021 and acquired by Pharrell Williams for redevelopment into Somewhere Else hotel.
hotel-towerresort-accommodationbahamas
Privately Owned
The Beach Tower is privately owned, unlike Payless Car Rental which is under a publicly traded parent company.
Travel HospitalityThe Royal Towers
Owned by Kerzner International Holdings Limited
Iconic hotel towers at Atlantis Paradise Island featuring 1,201 rooms and suites, the Bridge Suite, and direct access to Aquaventure water park and marine habitats. Renovated in 2024 as part of a $150 million resort-wide transformation.
luxury-hotelresort-accommodationbahamas
Privately Owned
The Royal Towers is privately owned, unlike Payless Car Rental which is under a publicly traded parent company.
Travel HospitalityAquaventure Waterpark
Owned by Kerzner International Holdings Limited
141-acre water park at Atlantis Paradise Island in the Bahamas, featuring high-speed slides, river rides, and marine habitat experiences, operated by Brookfield Asset Management.
water-parkresort-attractionbahamas
Privately Owned
Aquaventure Waterpark is privately owned, unlike Payless Car Rental which is under a publicly traded parent company.
Travel HospitalityAtlantis Resorts
Owned by Kerzner International Holdings Limited
Luxury integrated resort brand operating properties in the Bahamas, Dubai, and China under two separate ownership structures, with new resorts announced for the Maldives and Saudi Arabia.
luxury-resortsintegrated-resortshospitality
Privately Owned
Atlantis Resorts is privately owned, unlike Payless Car Rental which is under a publicly traded parent company.
Travel HospitalityDolphin Cay
Owned by Kerzner International Holdings Limited
14-acre marine habitat and conservation center at Atlantis Paradise Island offering dolphin encounters and marine education programs.
marine-habitatdolphin-encounterconservation
Privately Owned
Dolphin Cay is privately owned, unlike Payless Car Rental which is under a publicly traded parent company.
Avis Budget Group, Inc. Stock Information
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