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Trade Leased Car Arkadelphia AR

Trading a leased car is not quite the same as trading a car that has been purchased, even those purchased with a loan. There are differences that often make it not feasible, even though it might not be obvious at first glance.

Mid America Vehicle Rentals & Sales
(870) 886-7689
307 W
Jonesboro, AR
 
Budget Rent A Car
(479) 646-6932
4701 Towson Ave
Fort Smith, AR

Data Provided by:
Penske Truck Rental
(479) 649-8513
23 N 11th St
Fort Smith, AR
 
Budget Car & Truck Rental
(479) 648-9103
6700 Mckennon Blvd
Fort Smith, AR
 
Hertz - Northwest Arkansas Regional Airport
(479) 205-0388
1 Airport Boulevard
Bentonville, AR
Hours
Mo-Fr 0600-2400
Sa 0800-2300
Su 0800-2400
Special Services
Hand Controls for Disabled Drivers Only , Gold Counter Service
Additional Information
This airport also referred to as Fayetteville Airport, however it is located in Bentonville approximately 25 miles from Fayetteville. After Hours - After hour returns are allowed. Park car in Hertz area. The drop box is located at the counter. Bus - approximately 10 miles from bus station.

Budget Truck Rental
(479) 783-1300
1000 Carthage St
Fort Smith, AR
 
Enterprise Auto Rental
(501) 376-1919
00 South Broadway
Little, Rock, AR
 
PacLease
(479) 785-9600
901 Fresno St
Fort Smith, AR
 
Enterprise Auto Rental
(501) 791-9942
620 Warden Rd
Little, Rock, AR
 
Avis Rent A Car
(910) 487-9065
419 Cross Creek Mall Ste 400
Fayetteville, AR
 
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Trade Leased Car

You are leasing a car and are considering buying or leasing another car. Is it a good idea to trade a leased car before the old lease is finished โ€“ or is it better to wait until lease-end to trade โ€“ or neither?

Trading a leased car is not quite the same as trading a car that has been purchased, even those purchased with a loan.

There are differences that often make it not feasible, even though it might not be obvious at first glance.

Let's review some leasing basics first
When leasing, you don't own the vehicle. You also don't build up any ownership equity unless you made a very large down payment or had a valuable trade-in at the beginning of the lease.

This means, for most leases, your payments never quite keep up with the ever-increasing depreciated value of the vehicle โ€” you are always "upside down." Even at the end of the lease, the actual market value of the vehicle will usually be less than the residual, or purchase option, value.

Therefore, you have nothing to trade to a dealer for a new vehicle. You have no "equity."

The exception, again, would be if either your early payoff amount (get it from your lease company) or the sum of remaining payments is less than the market value, or trade-in value, of your vehicle. You can check trade-in values at www.kbb.com or www.nadaguides.com. The way that this might happen is if you had made a large down payment (cap cost reduction) at the beginning...

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