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Trade Leased Car Paola KS

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.

Paola Glass Co
(913) 294-3121
1012 N Pearl St
Paola, KS
 
Hertz - Executive Beachcraft
(913) 390-6114
280 Gardner Drive
New Century, KS
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
Located at the New Century Aircenter Airport, approximately 10 miles southwest of Olathe. This location is for Private Flights only. After Hours - After hour returns are allowed.

U-Haul Company
(913) 780-4494
12540 S Rogers Rd
Olathe, KS
 
Budget Rent A Car of Kansas City
(816) 243-5757
1102 N Rogers Rd
Olathe, KS
 
Hertz - Air Associates FBO
(913) 390-6114
12877 West 151st Street
Olathe, KS
Hours
Mo-Fr 0800-1800
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.

Louisburg Ford Sales Inc
(913) 837-5333
111 Fairlane Dr
Louisburg, KS
 
4-Wheels & A Motor
(913) 397-0400
1919 E Spruce St
Olathe, KS
 
Building Erection Services Co LLC
(913) 764-5560
15585 S Keeler St
Olathe, KS
 
Hertz Local Edition
(913) 390-6114
1904 E Santa Fe St
Olathe, KS
 
Auto Repair Services
(913) 782-4744
1919 E Spruce St
Olathe, KS
 

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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