So what happens when you're at the rental counter at midnight with no cars available? Do the companies do anything to make it up to you? Perhaps make arrangements with another rental company (like when hotels walk you to another property) or is it just too bad, so sad?

Personally I've never been shut out but I have seen some locations late at night without much inventory. In some cases I have received upgrades because my Sonata or whatever wasn't available. But never totally shut out.