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Trade Leased Car Belleville NJ

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.

American Auto Leasing Co
(973) 674-5670
20 N Park St
East Orange, NJ
 
Enterprise Auto Rental
(973) 783-3868
13 Grove Street
Montclair, NJ
 
Hertz - Clare Pine Service Center HLE
(973) 744-7409
40 Claremont Avenue
Montclair, NJ
Hours
Mo-Fr 0800-1800, 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. In-Car Navigation System , 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.

Budget Rent A Car
(973) 674-0170
474 Main St
Orange, NJ

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U-Haul Company
(973) 676-9268
245 Snyder St
Orange, NJ
 
Enterprise Auto Rental
(973) 678-9950
88 Central Ave.
East, Orange, NJ
 
Enterprise Rent A Car
(973) 678-9950
388 Central Ave
East Orange, NJ
 
Orange Auto
(973) 677-1090
58 High St
Orange, NJ
 
Enterprise Auto Rental
(973) 242-8300
Raymond Plz W/ Penn Station
Newark, NJ
 
AAA Epic Car & Truck Rental
(973) 678-0304
17 South Jefferson Street
Orange, NJ
 
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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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