Trade Leased Car Eagle ID
0630-2400 7 Days
Child Seats, Hand Controls for Disabled Drivers Only , Ski Equipped Vehicles, Gold Counter Service
This location was formerly known as 'Boise Executive Air'. After Hours - After hours returns are allowed. Park car in Hertz area, place keys and rental record in the drop box located at the end of the Hertz counter. This location is for private flights only. No walkins permitted.
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 – or is it better to wait until lease-end to trade – 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 — 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...