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Trade Leased Car Escanaba MI

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 - Amtrak Detroit
(313) 259-1543
11 West Baltimore
Detroit, MI
Hours
Mo-Fr 0800-1800, Sa-Su Closed
Special Services
Child Seats, Hand Controls for Disabled Drivers Only
Additional Information
This location is for Amtrak arrivals only.

Penske Truck Rental
(616) 531-6611
5475 Clay Ave SW
Wyoming, MI
 
Hertz - 23315 South Gratiot HLE
(586) 773-6863
23315 South Gratiot
Eastpointe, MI
Hours
Mo-Fr 0800-1800, 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., 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
After Hours - After hour returns are allowed. Pick up time must be at least one hour after location opening and one hour prior to location closing.

Enterprise Auto Rental
(313) 270-3100
7675 Grand River Ave
Detroit, MI
 
U-Haul Company
(734) 844-2112
39205 Ford Rd
Westland, MI
 
Hertz - Volkswagen Hangar
(248) 666-4460
Pontiac, MI
Hours
Mo-Fr 0700-1800, Sa 0900-1300, Su Closed
Special Services
Child Seats, Hand Controls for Disabled Drivers Only , Gold Counter Service
Additional Information
This location is for Private Flights only.

Good GMC Inc
(616) 531-0950
4800 Clyde Park SW
Wyoming, MI
 
Hertz - Pontiac Oakland Airport HLE
(248) 666-4460
7612 Highland Road
Pontiac, MI
Hours
Mo-Fr 0700-1800, 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
Bus - Approximately 8 miles from the Bus Station. Please call upon arrival. Cab fare will be reimbursed up to $3.00 with receipt. Pick up time must be at least one hour after location opening and one hour prior to location closing.

Hertz Penske Truck Rental
(616) 532-0724
2819 28th St SW
Wyoming, MI
 
Hertz - 34365 South Gratiot Avenue HLE
(586) 792-2096
34365 South Gratiot Avenue
Clinton Township, MI
Hours
Mo-Fr 0800-1800, 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., 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
After Hours - After hour returns are allowed. Pick up time must be at least one hour after location opening and one hour prior to location closing.

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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