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Trade Leased Car Milford OH

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.

Uhr Rents
(513) 528-6929
4513 Mount Carmel Tobasco Road
Cincinnati, OH

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The Alleen Company
(513) 769-0393
11939 Tramway Drive
Cincinnati, OH

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E-Con-O-Wise Rental Inc.
(513) 398-8626
781 Reading Road
Mason, OH

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Avis Budget Group
(859) 746-1859
P.O. Box 75109
Cincinnati, OH

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Enterprise Auto Rental
(513) 576-7999
30 State Route 28
Milford, OH
 
E Z Rent-All Co.
(513) 943-8000
3950 Nine Mile Road
Cincinnati, OH

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Ryder Transportation Services
(513) 771-1133
2575 Commodity Circle
Cincinnati, OH

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One Stop Rental - Tool & Party
(513) 777-3393
7971-B Cincinnati Dayton Road
West Chester, OH

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SWAPALEASE Inc.
(513) 381-0100
9090 Colerain Avenue
Cincinnati, OH

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Hertz - Clermont County Sportys Airport
(513) 752-8780
2001 Sportys Drive
Batavia, OH
Hours
Mo-Fr 0700-1800, Sa 0900-1200, Su Closed
Special Services
Child Seats, Hand Controls for Disabled Drivers Only , Gold Counter Service
Additional Information
This location is for Private Flights only.

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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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