Auto Leasing Guide
Go to LeaseGuide.com now !

Trade Leased Car Rio Rancho NM

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 Rent A Car
(505) 994-2000
1550 Rio Rancho Dr SE
Rio Rancho, NM
 
Rio Transit
(505) 994-1608
4330 Meadowlark Ln SE
Rio Rancho, NM
 
Hertz - Coors HLE
(505) 899-5980
9421 Coors Blvd. N W
Albuquerque, NM
Hours
Mo-Fr 0700-1800, Sa 0900-1300, 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. In-Car Navigation System , Ski Equipped Vehicles, 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.

Budget Rent A Car
(505) 867-1234
1300 Tuyuna Trl
Bernalillo, NM

Data Provided by:
Hertz - San Mateo HLE
(505) 856-6373
6300 San Mateo NE
Albuquerque, NM
Hours
Mo-Fr 0730-1800, Sa 0900-1300, 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. In-Car Navigation System , 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.

U-Haul Company
(505) 994-2100
2418 Southern Blvd SE Ste E
Rio Rancho, NM
 
U-Haul Company
(505) 892-1344
1401 Rio Rancho Dr SE
Rio Rancho, NM
 
Enterprise Auto Rental
(505) 922-1440
300 Coors Nw
Albuquerque, NM
 
Enterprise Auto Rental
(505) 343-1778
522 2Nd St Nw
Albuquerque, NM
 
Budget Rent A Car
(505) 344-7196
3501 Pan American Fwy Ne
Albuquerque, NM

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...

Click here to read the rest of this article from Lease Guide