Auto Leasing Guide
Go to LeaseGuide.com now !

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.

Enterprise Auto Rental
(502) 479-3346
805 Taylorsville Rd
Louisville, KY
 
Hertz - Louisville Executive Aviation
(502) 491-3725
2700 Gast Boulevard
Louisville, KY
Hours
Mo-Fr 0500-0100
Sa 0500-2400
Su 0500-0100
Special Services
Child Seats, Hand Controls for Disabled Drivers Only , Gold Counter Service
Additional Information
Located at Bowman Field. This location is for Private Flight arrivals only.

Enterprise Rent-A-Car
(502) 366-4700
600 Terminal Dr
Louisville, KY

Data Provided by:
Enterprise Auto Rental
(502) 459-3115
360 Bardstown Rd
Louisville, KY
 
Hertz - Midwest Aviation
(270) 744-6000
200 Hardy Roberts Drive
Paducah, KY
Hours
Mo-Fr 0700-2000
Sa-Su 0800-1800
Special Services
Child Seats, Hand Controls for Disabled Drivers Only

Enterprise Auto Rental
(502) 448-2211
911 Dixie Highway
Louisville, KY
 
Enterprise Auto Rental
(502) 493-9988
850 S. Hurstbourne Pkwy #189
Louisville, KY
 
Enterprise Rent-A-Car
(502) 225-6316
114 W Crystal Dr # B
La Grange, KY

Data Provided by:
Enterprise Auto Rental
(502) 937-0485
090-B Dixie Hwy
Louisville, KY
 
Budget Rent A Car
(859) 252-8408
1400 Leestown Rd
Lexington, KY

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