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Trade Leased Car Las Cruces NM

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
(575) 523-5351
2285 E Lohman Ave
Las Cruces, NM
 
Star Fire Transportation
(575) 522-0750
5010 Anasazi Trl
Las Cruces, NM
 
Hertz Corp
(575) 521-4807
705 S Telshor Blvd
Las Cruces, NM
 
Hertz - Adventure Aviation
(575) 521-4807
8960 Zia Blvd
Las Cruces, NM
Hours
Mo-Fr 0830-1630, Sa 1000-1200, Su closed.
Special Services
Child Seats, Hand Controls for Disabled Drivers Only , Gold Counter Service
Additional Information
This location is for Private Flights only.

Penske Truck Rental
(575) 526-9024
2001 S Valley Dr
Las Cruces, NM
 
Premier Transportation
(575) 523-9393
1308 Arizona Ave
Las Cruces, NM
 
Avis Rent A Car
(575) 522-4406
700 S Telshor Blvd
Las Cruces, NM
 
Hertz - Las Cruces Airport
(575) 521-4807
8990 Zia Blvd
Las Cruces, NM
Hours
Mo-Fr 0830-1630, Sa 1000-1200, Su closed.
Special Services
Child Seats, Hand Controls for Disabled Drivers Only , Gold Counter Service
Additional Information
This location is for flight arrivals only.

Hertz Penske Truck Rental
(575) 526-7931
344 Keathley Dr
Las Cruces, NM
 
Rent A Wheel
(575) 523-9770
110 W Picacho Ave
Las Cruces, NM
 

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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