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Trade Leased Car Bedford IN

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.

Alamo Rent A Car
(812) 339-3443
1616 S Walnut St
Bloomington, IN
 
National Car Rental
(812) 339-3443
1616 South Walnut
Bloomington, IN
 
Enterprise Rent A Car
(812) 336-1018
1907 S Walnut St
Bloomington, IN
 
Express Rent-A-Center
(812) 334-1013
3098 S Walnut St
Bloomington, IN
 
Penske Truck Rental
(812) 331-1188
2212 S Yost Ave
Bloomington, IN
 
Campus Auto Rental
(812) 332-4939
2425 S Walnut St
Bloomington, IN
 
ACE Rent A Car
(812) 336-1501
2200 North Walnut
Bloomington, IN
 
Budget Truck Rental
(812) 336-1181
912 S Walnut St
Bloomington, IN
 
Hertz - Cook Aviation
(317) 243-9321
970 South Kirby Road
Bloomington, IN
Hours
0700-2100 7 Days
Special Services
Child Seats, Hand Controls for Disabled Drivers Only , Gold Counter Service
Additional Information
This location is for Private Flights only.

Hertz - 317 East McKinley HLE
(574) 252-5119
317 East McKinley
Mishawaka, IN
Hours
Mo-Fr 0730-1800
Sa 0900-1200
Su Closed
Special Services
Child Seats, Hand Controls for Disabled Drivers Only , Replacement Rentals When your car is in the shop for repairs.Insurance/Body Shop and Dealership/Service Center replacement rentals available at this location.for replacement rental reservations., Pickup/Return Service:Available with a one hour advance notice and within 15 minutes from the Hertz Local Edition location. Contact the location to arrange for Pick Up service.
Additional Information
After hours - After hour returns are allowed. Pick up time must be at least one hour after location opening and one hour prior to location closing.

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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