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Trade Leased Car Edmond OK

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
(405) 348-6548
610 S Broadway
Edmond, OK
 
U-Haul Company
(405) 715-3888
14675 S Coltrane Rd
Edmond, OK
 
Enterprise Rent A Car
(405) 844-6700
13 W 15th St
Edmond, OK
 
Enterprise Rent A Car
(405) 475-0430
3612 S Kelly Ave
Edmond, OK
 
Enterprise Auto Rental
(405) 848-2499
407 Nw Expressway
Oklahoma, City, OK
 
Avis Rent A Car
(405) 844-7957
911 S Broadway
Edmond, OK
 
U-Haul Company
(405) 341-4258
168 E 33rd St
Edmond, OK
 
Hertz - 536 East Memorial Road HLE
(405) 748-4410
536 East Memorial Road
Edmond, OK
Hours
Mo-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.

Enterprise Auto Rental
(405) 755-2223
21 E. Memorial Road
Oklahoma, City, OK
 
Enterprise Auto Rental
(405) 721-7900
000 N Rockwell Ave
Oklahoma, City, OK
 

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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