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Trade Leased Car Crossville TN

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.

Enterprise Rent-A-Car
(931) 459-2233
2922 N Main St # 101
Crossville, TN

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Enterprise Rent-A-Car
(901) 382-1242
5771 Stage Rd
Memphis, TN

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Enterprise Rent-A-Car
(615) 778-9450
625 Bakers Bridge Ave # 102
Franklin, TN

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Enterprise Rent-A-Car
(615) 445-2282
15119 Old Hickory Blvd
Nashville, TN

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Enterprise Rent-A-Car
(423) 267-9500
305 W 20th St
Chattanooga, TN

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Enterprise Rent-A-Car
(901) 794-3605
5764 Mount Moriah Rd
Memphis, TN

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Enterprise Auto Rental
(615) 661-6181
25 Franklin Road
Brentwood, TN
 
Dollar Rent A Car
(901) 346-3161
2780 Airways Blvd
Memphis, TN

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Hertz - Smyrna Air FBO
(615) 494-1653
300 Doug Warpoole Road
Smyrna, TN
Hours
0600-2300 7 Days
Special Services
Child Seats, Hand Controls for Disabled Drivers Only In-Car Navigation System , Gold Counter Service
Additional Information
This location is for Private Flights only.

Enterprise Auto Rental
(615) 292-4000
409 Charlotte Pike
Nashville, TN
 
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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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