摘要：This paper presents several important factors affecting the resale prices of used rental cars. In fact, this paper empirically shows and proves several conjectures regarding the determinants for used rental car resale values through the use of detailed micro data from one of the biggest rental car companies. Specifically, the age of a used car has two composite effects on its resale value, even though overall the two effects work negatively with a concavity, as rental cars ages. On the other hand, two mileage variables interact with each other and produce overall decreasing effects on the resale prices with the opposite interactions. In terms of the effects of brand image, Hyundai and Renault-Samsung have positive effects on resale values generally. Ssangyong has a positive effect on the resale values in the SUV category, and Kia and GM-Daewoo are generally inferior to the other brands in terms of resale values in all categories. In terms of seasonal effects, we can conclude that this paper confirms the general perception regarding seasonal effects on resale values. In details, from November to February, resale values are affected negatively, and March is the recovering month of increasing demand in the used car market. August seems to be the highest season for the used car market due to several demand increases. As a result, this paper plays an important role in providing a substantial amount of information on the factors affecting the resale prices of rental cars
关键词：Rent a car; Used car; Rental Market; Average Residual Values; Seasonality.
