Rental car on tenerife: cheap for your vacation!

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With a rental car you can get to know tenerife from its most beautiful sides very individually. most of the roads on the island are well developed and the traffic rules in spain do not differ significantly from those in germany.

The right rental car for your vacation

there are many car rental companies on tenerife. You can easily find the best offer online in the car rental comparison on verivox.De. If you book from germany, the formalities of the car rental will be faster and you will have a car on tenerife in any case.

Many providers are represented directly at the airport tenerife south. If you want to pick up your rental car right after your arrival without looking for a shuttle bus to the station, you will find these offers in comparison with the option "rental station at the terminal". Possibly you can have your car brought directly to your hotel for an extra charge, so that you can start your trip comfortably from there.

What you should bear in mind when comparing rental cars

For the mountainous island, off-road small cars are the best choice. With these cars you can easily find a parking space in santa cruz and you have to pay less than for bigger cars.

when you compare the rates of the rental car companies, you should also take into account their fuel policy: in most cases, you will return the car with the same amount of fuel as when you picked it up. The most common refueling rule is full/full or full/full. Half/half. However, there may also be other regulations that could become a cost trap. With the "tank full/full" filter setting you are on the safe side.

Verivox also advises that you always rent a car with fully comprehensive insurance and theft protection without a deductible. Often you have to pay the excess on the spot and then you get the costs refunded.

Requirements for the rental

to rent a car on tenerife you do not need an international driver’s license. Some car rental companies require a minimum age (usually 21 or 25) for the driver, but this can be circumvented by paying a surcharge if necessary.

A full credit card (not prepaid) is almost always required to pay the deposit. Make sure that you have enough money on your credit card. Information about the amount of the deposit can be found under "rental conditions". Few car rental companies allow you to rent a car without paying a deposit. in these cases no credit card is necessary. Such offers turn out more expensive to compensate the risk.

Traffic rules on tenerife

The roads are usually well developed. Tenerife has two freeways (TF-1 and TF-5). Other roads are also mostly well developed. But in the mountains you may encounter narrow mountain roads that should be driven carefully. there you should also pay attention to your tank filling, because gas stations are rather rare.

On highways the maximum speed limit is 120km/h, on expressways you are allowed to drive with 100km/h and on country roads with 90km/h. The speed limit in the city is 50km/h, unless otherwise stated.

When you pick up your rental car, look for any technical defects, scratches or other flaws and have the condition of the car recorded in writing. If necessary, take pictures of the scratches on the rented car. also check if there is at least one yellow warning vest in the trunk of your car. It is compulsory in spain to carry it in case of breakdown or accident.

places of interest: what tenerife has to offer

not only can you explore the volcanic landscape of teide national park with a rental car, but you can also discover many beautiful places along the coast of tenerife: the cliffs of los gigantes are a worthwhile destination, but the quiet town of garachico also has a lot to offer.

if you are traveling with children, consider a visit to the loro park of puerto de la cruz. in addition to the zoo, the small town also has a botanical garden and many listed buildings to see. you can spend a day strolling around santa cruz de tenerife and visit the beach playa de las teresitas.

the anaga mountains lure with spectacular views and interesting flora. Here you can get off the beaten tourist track and enjoy the scenic beauty of the island. if you are a history buff, you can visit guimar, where you will find pyramids built by the guanches.

The best time to visit tenerife

the warmest and driest time to visit tenerife is between may and august. But as the Canary Islands are known as the islands of eternal spring, an easter vacation or a stay in autumn will also bring beautiful days. in november and december there can be severe storms on the island, especially in the mountains, which can cause road damage due to landslides. If you are traveling by rental car, check the weather forecast and adjust your route if necessary.

A car’s lights have long been more than just a cone of headlights that illuminates the night. Over the years, both front and rear headlights have become one of the most important driver assistance systems. Now you can even sell your "old car" retrofitting with LED lights.

Especially the german premium manufacturers have made a name for themselves in the field of lighting technology over the past decades. The breakthrough came at the end of the 1980s with the BMW 750i, which introduced the bright xenon light and outdid the competition from Germany and abroad. Xenon light is old news, because LED and laser light systems are now the measure of all things bright. Hundreds of meters in front of the vehicle, they illuminate the area in front of the vehicle and, thanks to the integration of intelligent camera systems, even shade oncoming traffic.

LED headlights turn night into day

The situation is somewhat different in the USA, where many lighting systems that have long been established in Europe are still being released. This applies in particular to the laser headlights with which BMW and Audi, for example, equip their vehicles, at least as an option. The laser is a highly focused beam of light that can be used for all kinds of mischief. But in everyday automotive use, it can also be a completely harmless all-purpose weapon. For example, illuminating the road almost perfectly and as bright as daylight.

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LED retrofit for headlights: how your car makes the road brighter

With some delay, LED lights have become established and now illuminate the lighting units of almost every new vehicle with great vigor. Years ago, the mercedes S-class of the W 222 generation was the first car in the world to have no light bulbs on board at all. The small LED lamps make it possible – bright white and extremely economical. Xenon light, once adopted as the brightest lighting innovation from expensive aircraft technology, has long been a dark history in itself, LED lamps are currently en vogue, and anyone who wants to show something innovative relies on laser light or special variants of LED modules.

The bluish shimmering laser light is given its white color by a phosphor leaf and is distributed as desired. The reflector of a laser headlamp is only as big as a 20-cent piece of paper. Nevertheless, laser light is far brighter than LED headlights and can be controlled even more precisely. In addition, more and more manufacturers are focusing on the further development of LED technology, the oleds, especially in the taillights. The organic light-emitting diodes consume even less power and are just 1.4 millimeters thick. One advantage of oleds is the flexibility of the larger components – compared to conventional LEDs – and the associated possibility of controlling individual segments.

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Oleds are the next step

This feature makes oleds particularly suitable for the taillights, which have been used as design elements since time immemorial. But LED headlights have long been interspersed with intelligent islands of light at the front as well. In the process, the lighting technology ensures that consumption is reduced, because leds consume significantly less energy than halogen bulbs or xenon burners. "the advantages of digital OLEDs include perfect contrast, high homogeneity and minimal segment spacing," explains stephan berlitz, head of development for lighting innovations at audi. "Digital OLEDs are therefore the perfect technology for presenting customizable lighting designs with high precision and great variability in the future. There are still many possibilities for the further development of this technology."

The new mercedes EQS offers a lane change assistant that guides the driver to the correct lane in conjunction with digital lights. "For us, the headlight has long since become a driver assistance system," explains mathias thamm, head of innovations and technologies at VW. "For the illumination, we access information from GPS data, the front camera, radar, steering angle and speed in order to be able to adjust the headlight perfectly."the success can be seen at first glance at dusk. Depending on speed, road conditions and the vehicle in front, the light cone adjusts variably and illuminates the road with dazzling brightness. The switched-on high beam of the new LED headlamp also increases the range by around 100 meters to just under 550 meters. In an SUV such as the VW touareg, in addition to functions such as city and country road lights, illumination for pedestrians or highway headlights, there is even a static and particularly wide off-road light to safely illuminate the area in front of the vehicle at an angle of 90 degrees – all automatically. Only the fog light must be switched individually by the driver. "there are currently hardly any sensors that can measure whether it is fog, perhaps just a snow reflection or something else," says mathias thamm.

Fog and snow remain a problem

In the U.S., there are also xenon and LED headlights, but they can do much less than the European versions. Models such as an audi A3 or a mercedes S-class must therefore reduce their complete lighting package and some functions are blocked according to the specifications of the US authorities. According to the specifications of the U.S. authorities, there are only two options: headlights or high beams – on or off. Laser light, LED lights that adapt to the surroundings and block out oncoming traffic – all known, but not approved, where a directive from 1968 still sets the tone, or rather the light.

According to federal motor vehicle safety standard regulation number 108, there is only light on or light off – and nothing in between. a few years ago, it looked as if the national highway traffic safety administration would change the 1967 regulation under pressure from manufacturers from asia and europe – nothing has happened yet. The reasons are manifold and hardly anything other than pretextual. One of the main reasons is the national industry, because the domestic car manufacturers were lagging behind in lighting technology and their own suppliers did not have the appropriate expertise.

Retrofitting LED headlights? This is possible now

The situation is completely different on the aftermarket, because anyone who has ever been on the road in the mountain regions of Colorado or Montana will see countless off-road vehicles of every make with gigantic LED spotlights that could light up half the state. Here the regulation is lax and almost everything is allowed. This looks very different in a country like germany. Here, it’s only been two years since LED retrofits were allowed on two handfuls of young used cars. The light of the retrofit solution from osram is up to three times brighter than the minimum legal requirements and comparable to daylight in terms of color, as the lamp brings strong contrasts and a long range into the car. Thanks to LED technology, it shines twice as brightly and up to five times longer than a comparable halogen version, needs to be replaced correspondingly less frequently, and also consumes less energy.

conversion can be done by yourself

Particularly practical: the lamp change from halogen to osram LED can be carried out by the customer without any conversion work and with a modicum of specialist knowledge. In contrast to the extra cost of the factory solution, the LED system is comparatively inexpensive at just under 130 euros per vehicle; admittedly, however, it costs many times as much as a halogen bulb, which is paid for with around 15 to 30 euros. Registration in the vehicle documents is not necessary. It is sufficient to carry the general operating permit from osram with you in the event of an inspection.

scout24 sells its car division autoscout24 to the financial investor hellman& for 2.9 billion euro friedman. With this, activist investor elliott gets his way – and can hope for a lavish special dividend.

Now it happened very fast: the operator of online marketplaces, scout24, sells its car division autoscout24 for 2.9 billion euros to the financial investor hellman& friedman. In the process, the mdax company achieves a proud multiple on operating earnings before interest, taxes, depreciation and amortization (ebitda). According to Scout24, the valuation corresponded to 26 times the ebitda of autoscout24 from ordinary business activities in the past twelve months (until the end of september 2019).

High multiples are quite common in the internet business – especially as autoscout24 has high cash flows and an adjusted ebitda margin of 58 percent most recently. Nevertheless, the deal exceeds analysts’ expectations. The activist investor elliott, who holds a 7.5 percent stake in scout24 and had been pushing for the sale of the car division, had also previously only expected a purchase price of 2.5 billion euros.

Scout24 wants to focus on real estate trading

The transaction, which is expected to be completed in the first half of 2020, comprises the autoscout24, financescout24 and finanzcheck brands. The latter had only bought scout24 in the summer of 2018 for 285 million euros, which corresponded to eight times the revenue at the time.

From scout24’s point of view, the sale of the two financing portals only makes strategic sense together with autoscout24 due to their business model, as a scout24 spokesperson told FINANCE in response to an inquiry. The banks credit suisse and morgan stanley acted as financial advisors to the company.

the mdax group now intends to concentrate entirely on its second mainstay, the real estate brokerage platform immobilienscout24. In november, the management team led by CEO tobias hartmann unveiled a new strategy to build an ecosystem for buying, renting and commercial real estate in germany.

scout24 hardly benefits from sales proceeds

scout24 cfodirk schmelzer intends to use the proceeds of the autoscout24 sale for three things: first, the berlin-based company plans to distribute capital to its shareholders, which is in line with the explicit goal of activist elliott. The exact amount, structure and timing of such a transaction will be "decided and communicated in due course," scout24 said.

Secondly, an "acceleration of the share buyback program" is possible, as a spokesperson for the company told FINANCE. This is also likely to be in elliott’s interests. The activist already called for a "more ambitious" share buyback of scout24 in the summer. A program currently underway with a volume of 300 million euros.

Scout24 intends to use proceeds from sale to repay debt

In addition, the group intends to use a portion of the sale proceeds for the "repayment of loan liabilities" in order to comply with covenants of existing loan liabilities. The specific nature of the loan terms was not commented on.

Although scout24’s debt is within bounds: after the first nine months of the current year, the group’s net financial debt amounted to 751 million euros. according to the company, this was equivalent to 2.4 times the group’s ebitda from ordinary activities in the last twelve months.

However, the sale of autoscout24 means that a large part of the earnings will be lost. The division most recently accounted for around one third of the Group’s sales and ebitda. Without a repayment of debt, important financial ratios are therefore likely to come under pressure.

FINANCE heads

Dr. Dirk schmelzer, scout24 AG

After studying economics at the universities of cologne and copenhagen, dirk schmelzer worked as a research assistant from 1993 to 1997. in 1996, he spent a year as a visiting scholar at brown university in rhode island, u.s.a., on a scholarship from the german marshall fund. Following his promotion to dr. Rer.Pole. At the europe university in frankfurt/oder, he began his professional career in 1997 as a controller at the telefonica O2 in germany.

After holding various positions in the telefonica group, schmelzer becomes financial managing director of telefonica germany in munich and in 2009 financial managing director at hansenet in hamburg. In both functions, he is responsible for post-merger integration as well as for controlling, accounting and purchasing. From february 2011 to spring 2017, schmelzer is Chief Financial officer of internetholding holidaycheck (formerly tomorrow focus). In april 2017, he will move to prosiebensat.1, where he is CFO of the digital ventures& commerce will. Two years later, it is announced that schmelzer is leaving P7S1 again to take on new tasks. As of june 2019, he is the CFO of scout 24.

Scout24 dances to elliott’s tune

Scout24 had put autoscout24 on the market in august under pressure from activist investor elliott. The latter had complained that scout24 was "with great certainty" not the best owner for the car portal. munchener’s management board initially wanted to stick to the strategy it had only drawn up in july, but resistance to the activist’s brute methods did not last long at scout24.

Only two weeks later, management declared that it was examining "all alternatives" for the Group subsidiary: scout24 CEO hartmann held out the prospect of a partial IPO in addition to the sale of the division. At the end of september, the mdax company also appointed a CFO for the division in the person of britta schmidt in order to promote its independence.

Hellman& friedman makes do with scout24 division

Britta schmidt will now be working with the private equity firm hellman& friedman have to deal with. The financial investor is "a suitable new home for autoscout24," as the mdax company explains. Hellman& according to the "manager magazin", friedman is said to be fighting against competing financial investors such as permira, apax and carlyle on the one hand, and against strategists such as the australian online marketplace carsales on the other.Com and the berlin-based start-up auto1.

With the sale of the division to Hellman& friedman returns autoscout24 to old acquaintances: the financial investor took the group’s parent company scout24 public in 2015 and tried to take over the group again this spring, but failed with its offer of 5.7 billion euros or 46 per share. this morning, the share briefly traded at around 58.30 euros – the all-time high for scout24 shares. This corresponds to a market capitalization of almost 6.3 billion euros.

Manager changes, new funds, exciting investments: everything you need to know about the world of financial investors can be found on our FINANCE topic page on private equity. An overview of the most important transactions of the past weeks can be found on our M&A deals page.