Typically yes, Hertz has never cancelled my reservation when I showed up late( within few hours, sometimes flight was delayed ). However it's always a good idea to call them up and update them. If you are travelling by air and picking up your reservation from airport rental location, in your Hertz reservation you can provide your flight information thus letting them know your flight arrival info.
Sure just call and confirmed
Yes. They will honor it through the day of rental
I believe you can but you want to make sure
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