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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.

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

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

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Whittle Truck Sales & Trailer Rentals & Sales
(479) 750-9410
567 S 40th St
Springdale, AR
 
Enterprise Rent-A-Car
(501) 268-6099
2204 E Race Ave
Searcy, AR

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Hertz Penske Truck Rental
(910) 424-7048
Fayetteville S
Fayetteville, AR
 
Budget Rental Car
(501) 268-8235
1614 E. Booth Rd.
Searcy, AR
Hours
Mon-Sat 8to6
Special Services
Free pick up

Hertz Corp
(910) 868-1950
5945 Cliffdale Rd
Fayetteville, AR
 
Enterprise Rent A Car
(479) 872-2217
702 S Thompson St Ste B
Springdale, AR
 
Hertz - Ft. Smith Regional Airport
(479) 484-4448
6700 McKennon Boulevard
Fort Smith, AR
Hours
Mo-Fr 0630-2200
Sa 1000-1700
Su 1200-2200
Special Services
Hand Controls for Disabled Drivers Only , Gold Counter Service
Additional Information
After Hours - After hour returns are allowed 0530-Midnight. Park car in Hertz area, place keys and rental record in drop box located at the counter. Bus - Approximately 10 miles from bus station.

Budget Rent A Car
(870) 663-4473
5501 S Olive St
Pine Bluff, AR

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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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