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Trade Leased Car Mason City IA

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
(641) 423-8300
2740 4th St Sw
Mason City, IA

Data Provided by:
Enterprise Auto Rental
(515) 285-2525
601 Fleur Drive
Des, Moines, IA
 
Enterprise Auto Rental
(515) 262-2222
545 E Euclid Ave
Des, Moines, IA
 
Hertz Corp
(319) 337-6615
1801 S Riverside Dr
Iowa City, IA
 
Brown National Lease Corp
(319) 645-2644
3550 2nd St
Iowa City, IA
 
Hertz - Mason City Airport HLE
(641) 423-6536
9184 265th Street
Mason City, IA
Hours
Mo-Fr 0800-1700
Sa Closed
Su 1300-1600
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., 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
This location is in Clearlake, Iowa at Highway 18 West. Pick up time must be at least one hour after location opening and one hour prior to location closing.

Avis Rent A Car
(319) 233-0569
Waterloo Municipal Airpot
Waterloo, IA
 
Hertz - Stew Hansen Hertz HLE
(515) 276-1177
12103 Hickman Road
Urbandale, IA
Hours
Mo-Fr 0730-1730
Sa 0800-1200
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.

Enterprise Auto Rental
(515) 282-8000
24 W. 14Th Street
Des, Moines, IA
 
Linder Tire Service Inc
(319) 337-4163
632 S Riverside Dr
Iowa City, IA
 
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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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