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Trade Leased Car Pekin IL

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 Auto Rental
(309) 633-2200
100 W Everett M Dirksen Pkwy
Peoria, IL
 
Hertz - Komatsu America Co.
(309) 697-0650
2300 N. E. Adams
Peoria, IL
Hours
Mo-Fr 0700-1900
Sa-Su 0900-1700
Special Services
Child Seats, Hand Controls for Disabled Drivers Only In-Car Navigation System
Additional Information
This location is for Komatsu Employees Only. This locations is for Private Flights only.

Hertz - Byerly Flying Service
(309) 697-0650
6100 West Everett McKinley Dirksen Parkway
Peoria, IL
Hours
Mo-Fr 0700-2230
Sa-Su 0900-2230
Special Services
Child Seats, Hand Controls for Disabled Drivers Only In-Car Navigation System
Additional Information
This location is for Private Flights only.

Enterprise Auto Rental
(309) 676-5800
03 Ne Jefferson Ave
Peoria, IL
 
Enterprise Auto Rental
(309) 682-6700
212 N University St
Peoria, IL
 
Enterprise Rent-A-Car
(309) 633-2200
6100 W Everett M Dirksen Pkwy
Bartonville, IL

Data Provided by:
Hertz - Greater Peoria Airport
(309) 697-0650
6100 West Everett McKinley Dirksen Parkway
Peoria, IL
Hours
Mo-Fr 0700-2300
Sa 0800-1800
Su 0800-2300
Special Services
Child Seats, Hand Controls for Disabled Drivers Only In-Car Navigation System , Gold Counter Service
Additional Information
After Hours - Meets scheduled flights Sunday through Friday, and American Eagle flight 3571 arriving at 2115 and United Express flight 6520 arriving at 2050 on Saturday as long as the reservation is received 24 hours in advance. After hour returns are allowed 0400-0030. Park the vehicle in the Hertz area, then leave the keys and rental agreement in the drop box, located at the counter. Bus - Approximately 7 miles from bus station. Cab fare will be reimbursed up to $8.55 with receipt.

Enterprise Auto Rental
(309) 694-2555
00 Fairlane Drive
East, Peoria, IL
 
Enterprise Rent-A-Car
(309) 676-5800
203 NE Jefferson Avenue
Peoria, IL
 
Enterprise Rent-A-Car
(309) 263-6600
2271 S Main St
Morton, IL

Data Provided by:
Data Provided by:

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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