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Trade Leased Car Barre VT

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.

U-Haul Company
(336) 229-1118
1550 Industry Dr
Burlington, VT
 
Hertz - Heritage Flight
(802) 864-7409
3060 Williston Road
Burlington, VT
Hours
Mo-Fr 0630-2330, Sa-Su 0700-2330
Special Services
Child Seats, Hand Controls for Disabled Drivers Only In-Car Navigation System , Ski Equipped Vehicles, Gold Counter Service
Additional Information
This location is for Private Flights only.

U-Haul Company
(336) 222-0805
910 S Church St
Burlington, VT
 
Hertz - Columbia Aviation
(802) 775-3353
1004 Airport Road
Rutland, VT
Hours
0800-1700 7 Days
Special Services
Child Seats, Hand Controls for Disabled Drivers Only

Hertz - Rutland Airport
(802) 775-3353
1002 Airport Road
Rutland, VT
Hours
Mo-Fr 0800-1800, Sa-Su 0900-1600
Special Services
Child Seats, Hand Controls for Disabled Drivers Only

Hertz - Atlantic Aviation
(802) 657-3100
1130 Airport Drive
Burlington, VT
Hours
Mo-Fr 0630-2330, Sa-Su 0700-2330
Special Services
Child Seats, Hand Controls for Disabled Drivers Only In-Car Navigation System , Ski Equipped Vehicles, Gold Counter Service
Additional Information
This location is for Private Flights only.

Avis Rent A Car
(336) 227-3260
3441 N Aviation Dr
Burlington, VT
 
Hertz Penske Truck Rental
(336) 584-2080
628 Huffman Mill Rd
Burlington, VT
 
Ray Mini Storage
(336) 227-3677
141 N Beaumont Ave
Burlington, VT
 
Enterprise Rent A Car
(336) 229-0336
2326 N Church St
Burlington, VT
 

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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