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Trade Leased Car Decatur IL

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
(217) 875-2491
3111 N 22nd St
Decatur, IL
 
Penske Truck Rental
(217) 421-1839
3696 Greenswitch Rd
Decatur, IL
 
Enterprise Rent A Car
(217) 875-4900
2745 N Water St
Decatur, IL
 
Hertz Corp
(217) 875-7689
2728 N Main St
Decatur, IL
 
Hertz - Decatur FBO
(217) 875-7689
790 Airport Road
Decatur, IL
Hours
Mo 0700-1800
Tu-Fr 0730-1800
Sa 0900-1200
Su Closed
Special Services
Child Seats, Hand Controls for Disabled Drivers Only In-Car Navigation System
Additional Information
This location is for Private Flights only.

Enterprise Rent-A-Car
(217) 875-4900
2745 N Water St
Decatur, IL

Data Provided by:
Hertz - 2728 North Main Street HLE
(217) 875-7689
2728 North Main Street
Decatur, IL
Hours
Mo 0700-1800
Tu-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. In-Car Navigation System , Gold Counter Service , 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
Pick up time must be at least one hour after location opening and one hour prior to location closing.

U-Haul Company
(217) 875-2491
2540 N Martin Luther King Jr Dr
Decatur, IL
 
Avis Rent A Car
(217) 422-4337
910 S Airport Rd
Decatur, IL
 
U-Haul Company
(217) 963-2119
4710 W Main St
Decatur, IL
 
Data Provided by:

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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