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Trade Leased Car Bridgeport CT

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.

Hertz - Bridgeport Amtrak Station
(203) 876-0708
525 Water Street
Bridgeport, CT
Hours
Mo-Fr 0730-1800
Sa 0900-1200
Su Closed
Special Services
Child Seats, Hand Controls for Disabled Drivers Only In-Car Navigation System , Gold Counter Service
Additional Information
This location is for Amtrak arrivals.

Dollar
(203) 331-9735
940 E Main St
Bridgeport, CT
 
Penske Truck Rental
(203) 334-8367
225 Boston Ave
Bridgeport, CT
 
U-Haul Company
(203) 333-0288
309 North Ave
Bridgeport, CT
 
Hertz - Atlantic Aviation
(203) 469-8826
325 Main Street
Bridgeport, CT
Hours
0600-2200 7 Days
Special Services
Child Seats, Hand Controls for Disabled Drivers Only In-Car Navigation System , Gold Counter Service
Additional Information
Located at the Sikorsky Memorial Airport. This location is for Private Flights only.

Affordable Motors
(203) 362-0259
408 Grand St
Bridgeport, CT
 
U-Haul Company
(203) 368-2584
636 Boston Ave
Bridgeport, CT
 
U-Haul Company
(203) 579-9191
3029 Fairfield Ave
Bridgeport, CT
 
Choice Equipment Rental
(203) 335-7368
550 North Ave
Bridgeport, CT
 
AAA Auto Rental
(203) 371-6957
887 Reservoir Ave
Bridgeport, CT
 

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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