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Trade Leased Car South Elgin IL

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.

U-Haul Company
(847) 697-8404
8N034 Il Route 25
Elgin, IL
 
Enterprise Rent A Car
(847) 741-2002
910 E Chicago St
Elgin, IL
 
Hertz Corp
(847) 488-0617
625 S Route 83
Elgin, IL
 
Hertz - Elgin Holiday Inn HLE
(847) 695-7837
495 Airport Road
Elgin, IL
Hours
Mo 0730-1800
Tu-Fr 0800-1800
Sa 0900-1200
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.
Additional Information
After Hours - After hour returns are allowed. Leave keys and contract in the drop box located on the Hertz counter. Pick up time must be at least one hour after location opening and one hour prior to location closing.

Lemus Auto Repair
(847) 741-6960
338 S Mclean Blvd
Elgin, IL
 
Hertz - 1040 East Chicago Avenue HLE
(847) 531-6304
1040 East Chicago Avenue
Elgin, IL
Hours
Mo-Fr 0730-1800
Sa-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
Pick up time must be at least one hour after location opening and one hour prior to location closing.

Enterprise Rent-A-Car
(847) 488-9990
400 S Randall Rd # E
Elgin, IL

Data Provided by:
Enterprise Rent-A-Car
(847) 741-2002
910 E Chicago St
Elgin, IL

Data Provided by:
Absolute Rent-A-Car
(847) 888-9100
353 Willard
Elgin, IL
 
Hertz Rent A Car
(847) 695-7837
495 Airport Rd
Elgin, IL
 
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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