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Trade Leased Car Mount Pleasant SC

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 - 1561 Highway 17 North HLE
(843) 856-9766
1561 Highway 17 North
Charleston, SC
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., 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
Pick up time must be at least one hour after location opening and one hour prior to location closing.

Enterprise Auto Rental
(843) 723-6215
98 Meeting Street
Charleston, SC
 
Avis
(843) 402-9626
The Citadel
Charleston, SC
 
Enterprise Auto Rental
(843) 769-5833
500 Savannah Highway
Charleston, SC
 
Rent A Wreck
(843) 769-7325
444 Savannah Hwy
Charleston, SC
 
Enterprise Rent A Car
(843) 723-6215
398 Meeting St
Charleston, SC
 
Budget Car & Truck Rental
(843) 577-5195
390 Meeting St Unit B
Charleston, SC
 
Enterprise Auto Rental
(843) 556-7889
004 Savannah Hwy
Charleston, SC
 
Hertz Corp
(843) 572-5904
6445 Fain Blvd
Charleston, SC
 
Enterprise Rent-A-Car
(843) 769-5833
1500 Savannah Hwy
Charleston, SC

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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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