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Trade Leased Car Sparks NV

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
(775) 331-6888
450 East Prater Way, Ste 113
Sparks, NV
 
U-Haul Company
(775) 355-5704
465 S Rock Blvd
Sparks, NV
 
Paclease Preferred Truck Leasing
(775) 359-8840
1550 S Mccarran Blvd
Sparks, NV
 
Penske Truck Rental
(775) 359-6226
1405 Glendale Ave
Sparks, NV
 
Enterprise Rent A Car
(775) 331-6888
1450 E Prater Way Ste 113
Sparks, NV
 
Budget Truck Rental
(775) 356-2499
1595 Marietta Way
Sparks, NV
 
Enterprise Rent A Car
(775) 331-2390
1100 Nugget Ave
Sparks, NV
 
Cashman Equipment Co
(775) 358-5111
600 Glendale Ave
Sparks, NV
 
Enterprise Auto Rental
(775) 331-2390
100 Nugget Ave
Sparks, NV
 
Silver State International Trucks
(775) 685-6000
2255 Larkin Cir
Sparks, NV
 

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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