Last week Hertz Global Holdings, Inc. lowered their guidance on their financial estimates for the coming year and the stock dropped more than 10%. This made me incredibly happy. Was I short the stock? Had I bought some put options? No, but in the weeks prior to that I had received the absolute worst customer experience in my fifty-year life from Hertz, which left me feeling so ripped off and helpless that I was happy to take some small pleasure in their economic pain.
Prior to last August 2, I lived in a naive, blissful state of ignorance. I believed that if you prepaid for a car reservation, and showed up at the right place and right time to pick up your car, that such car, or at least some car, would be available. Or at least I believed that if there was some sort of unavoidable problem, and no car was available, that the rental car company would somehow make up for that mistake, say by paying for a taxi to the destination or more probably with some sort of voucher for a free rental as compensation for the bother and lost time. Or at least I believed that a rental car company would, at a rockbottom minimum, refund the prepaid amount due to their failure to provide the services for which you paid.
Welcome to Hertz! On Saturday August 2nd at 10am I showed up at the closest Hertz Rent a Car location to where I live in Manhattan, having prepaid and reserved my car. I should have known something was wrong. There were about 20 people at the tiny office, milling about in confusion. No cars were coming in or out, and none of the staff were helping anyone. But there was a line. So I dutifully waited in line for about 20 minutes, hoping something would happen. My family and I had made plans to visit friends in Connecticut for the day, and we needed to get moving. Others in line clearly had more pressing needs, judging by their body language and swearing in various languages.
Eventually a staff member announced that no cars at all were available for anyone, and no estimate could be given of when any cars would become available. “Can't you send cars over from another location?” someone asked. “No,” was the only answer given. So I waited for about half an hour, during which time no cars came, and then left for Grand Central to catch a train.
Here is where things got really fun. Before leaving of course I asked for a refund. I was told that was impossible, and would have to call Hertz's customer service number for a refund. I promptly did, and was put on hold for forty minutes before being told that there was nothing to be done over the telephone, but that I should send an email to Hertz's customer service email address, which I promptly did. Well friends, that was several weeks ago and I have heard no response.
So clearly, Hertz must die. Oh yes, I reversed the credit card charge as a contested charge. But seriously, what company can expect to stay in business for very long by outright fraud and theft? I welcome the stories of others who wish to share their own pain, whether at the hands of Hertz or some other rental car company, but I sincerely hope no one can top my story.
Have you rented a car from Hertz or other car rental agency, only to find that the location is overbooked with no cars?
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