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Trade Leased Car Searcy AR

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.

Budget Rental Car
(501) 268-8235
1614 E. Booth Rd.
Searcy, AR
Hours
Mon-Sat 8to6
Special Services
Free pick up

Enterprise Auto Rental
(501) 227-7368
1301 West Markham
Little, Rock, AR
 
Whittle Truck Sales & Trailer Rentals & Sales
(479) 750-9410
567 S 40th St
Springdale, AR
 
Crown Limousine
(910) 483-5135
2708 Owen Dr
Fayetteville, AR
 
Hertz - Drake Field
(479) 443-4343
4500 South School Avenue
Fayetteville, AR
Hours
Mo-Fr 0800-2100
Sa-Su 0800-2000
Special Services
Child Seats, Hand Controls for Disabled Drivers Only
Additional Information
This location is for Private Flights only. Walkins are not allowed.

Enterprise Rent-A-Car
(501) 268-6099
2204 E Race Ave
Searcy, AR

Data Provided by:
Enterprise Rent-A-Car
(501) 537-2880
1 Airport Rd
Little Rock, AR

Data Provided by:
Enterprise Auto Rental
(501) 982-2001
526 West Main Street
Jacksonville, AR
 
Budget Car & Truck Rental
(479) 648-9103
6700 Mckennon Blvd
Fort Smith, AR
 
Enterprise Rent A Car
(479) 872-2217
702 S Thompson St Ste B
Springdale, AR
 
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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