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Trade Leased Car Southaven MS

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.

Hertz - Signature Flight Support
(731) 345-4700
2488 Winchester Road
Memphis, TN
Hours
24 Hours, 7 Days
Special Services
Child Seats, Hand Controls for Disabled Drivers Only In-Car Navigation System
Additional Information
This location is for Private Flights only. All reservations require private flight arrival, even for customers arriving by private plane on a previous day. No walkins allowed.

Hertz - Seaport Airlines
(901) 345-5680
2540 Winchester Road
Memphis, TN
Hours
0600-2400 7 Days
Special Services
Child Seats, Hand Controls for Disabled Drivers Only , Gold Counter Service

Enterprise Auto Rental
(901) 396-3736
909 Airways Blvd
Memphis, TN
 
Enterprise Rent-A-Car
(901) 396-3736
2909 Airways Blvd
Memphis, TN

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Hertz - Memphis International Airport
(901) 345-5680
2560 Rental Road
Memphis, TN
Hours
0600-2400 7 Days
Special Services
Child Seats, Gold Canopy , Hand Controls for Disabled Drivers Only In-Car Navigation System , Covered Return Center
Additional Information
After Hours - After hour returns are allowed. Park the vehicle at the exit gate. Give the keys and rental agreement to the security guard on duty. Railroad - Approximately 11 miles from the railroad station.

Enterprise Auto Rental
(901) 345-8588
041 Brooks Road East
Memphis, TN
 
Enterprise Rent-A-Car
(901) 398-2013
1361 E Shelby Dr
Memphis, TN

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Enterprise Auto Rental
(901) 398-2013
361 E Shelby Drive
Memphis, TN
 
Dollar Rent A Car
(901) 346-3161
2780 Airways Blvd
Memphis, TN

Data Provided by:
Hertz - Wilson Air Center
(901) 345-2992
2930 Winchester Road
Memphis, TN
Hours
24 hours, 7 days
Special Services
Child Seats, Hand Controls for Disabled Drivers Only In-Car Navigation System
Additional Information
This location is for Private Flights only. No walkins allowed.

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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