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Trade Leased Car North Las Vegas NV

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.

Penske Truck Rental
(702) 643-0385
4510 Vanderberg
North Las Vegas, NV
 
ATV Cycle Sports
(702) 222-3586
4440 E Craig Rd Ste 300
Las Vegas, NV
 
Kenworth Sales Las Vegas
(702) 399-2424
3033 Losee Rd
North Las Vegas, NV
 
Enterprise Rent-A-Car
(702) 643-3605
5070 E Cartier Ave
Las Vegas, NV

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Mccandless Isuzu Trucks
(702) 642-2065
3780 Losee Rd
North Las Vegas, NV
 
Peterbilt of Las Vegas
(702) 657-1500
4120 Donovan Way
North Las Vegas, NV
 
Dollar
(702) 657-9908
2450 Las Vegas Blvd N
North Las Vegas, NV
 
Budget Car & Truck Rental
(702) 736-1212
2000 Las Vegas Blvd N
North Las Vegas, NV
 
Paclease Preferred Truck Leasing
(702) 657-1500
4120 Donovan Way
North Las Vegas, NV
 
Enterprise Rent A Car
(702) 648-2097
2730 Airport Dr Ste 101
North Las Vegas, NV
 
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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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