CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Operating activities
Net loss	$ (234)	$ (504)
Adjustments to reconcile net loss to net cash provided by operating activities:
Vehicle depreciation	650	693
Amortization of right-of-use assets	309	262
(Gain) loss on sale of vehicles, net	(10)	334
Vehicle related reserves	71	101
Non-vehicle related depreciation and amortization	58	56
Amortization of debt financing fees	12	12
Stock-based compensation	1	6
Net change in assets and liabilities:
Receivables	46	40
Income taxes and deferred income taxes	(120)	(183)
Accounts payable and other current liabilities	(5)	95
Operating lease liabilities	(308)	(263)
Other, net	(36)	(30)
Net cash provided by operating activities	434	619
Investing activities
Property and equipment additions	(41)	(34)
Proceeds received on asset sales	1	1
Net assets acquired (net of cash acquired)	(13)	0
Other, net	8	0
Net cash used in investing activities exclusive of vehicle programs	(45)	(33)
Vehicle programs:
Investment in vehicles	(3,482)	(3,785)
Proceeds received on disposition of vehicles	3,785	3,090
Investment in debt securities of Avis Budget Rental Car Funding (AESOP) LLC—related party	(294)	(384)
Proceeds from debt securities of Avis Budget Rental Car Funding (AESOP) LLC—related party	464	397
Net cash used in investing activities of vehicle programs	473	(682)
Net cash provided by (used in) investing activities	428	(715)
Financing activities
Proceeds from borrowings (original maturities greater than three months)	0	500
Payments on borrowings (original maturities greater than three months)	(10)	(18)
Repurchases of common stock	(7)	(3)
Debt financing fees	0	(2)
Net cash provided by (used in) financing activities exclusive of vehicle programs	(17)	477
Vehicle programs:
Proceeds from borrowings	6,624	6,926
Payments on borrowings	(7,413)	(7,303)
Debt financing fees	(16)	(2)
Net cash provided by financing activities of vehicle programs	(805)	(379)
Net cash provided by (used in) financing activities	(822)	98
Effect of changes in exchange rates on cash and cash equivalents, program and restricted cash	(7)	8
Net increase in cash and cash equivalents, program and restricted cash	33	10
Cash and cash equivalents, program and restricted cash, beginning of period	618	597
Cash and cash equivalents, program and restricted cash, end of period	$ 651	$ 607