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Trade Leased Car Somerset KY

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 Rent A Car
(502) 366-8555
4330 Crittenden Dr
Louisville, KY

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Hertz - 650 Versailles Road HLE
(502) 352-2775
650 Versailles Road
Frankfort, KY
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., 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.
Additional Information
After Hours - After hour returns are allowed. Pick up time must be at least one hour after location opening and one hour prior to location closing.

Enterprise Rent-A-Car
(270) 651-6682
609 Happy Valley Rd
Glasgow, KY

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Enterprise Rent-A-Car
(502) 778-0096
2109 Dixie Hwy
Louisville, KY

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Enterprise Auto Rental
(502) 412-5111
1400 Westport Rd
Louisville, KY
 
Enterprise Rent-A-Car
(502) 225-6316
114 W Crystal Dr # B
La Grange, KY

Data Provided by:
Enterprise Auto Rental
(502) 778-0096
109 Dixie Hwy
Louisville, KY
 
Hertz - Don Jacobs Collision Center
(859) 260-2624
2678 Regency Road
Lexington, KY
Hours
Mo-Fr 0730-1730
Sa-Su Closed
Special Services
Child Seats, Hand Controls for Disabled Drivers Only , 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.
Additional Information
This location is for Insurance Replacement rentals only. Pick up time must be at least one hour after location opening and one hour prior to location closing.

Enterprise Rent-A-Car
(859) 283-3040
5977 Merchants St
Florence, KY

Data Provided by:
Hertz - 4204 Dixie Highway HLE
(859) 342-0141
4204 Dixie Highway
Erlanger, KY
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., 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.
Additional Information
After Hours - After hour returns are allowed. Pick up time must be at least one hour after location opening and one hour prior to location closing.

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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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