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Trade Leased Car Warwick RI

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 Rent-A-Car
(401) 828-5577
300 Quaker Ln
Warwick, RI

Data Provided by:
Hertz - Northstar Aviation
(401) 738-2600
544 Airport Road
Providence, RI
Hours
0600-2400 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.

Hertz - 2283 Post Road HLE
(401) 737-2189
2283 Post Road
Warwick, RI
Hours
Mo-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
Customers arriving at the Providence T. F. Green Airport must reserve their vehicle at the Hertz Providence T. F. Green Airport location. After hours - After hour returns are allowed. Place completed Rental Agreement and keys in the drop box located near the building.

U-Haul Company
(401) 943-2945
1125 Cranston St
Cranston, RI
 
Ami Leasing
(401) 463-5234
11 Sharpe Dr
Cranston, RI
 
Enterprise Auto Rental
(401) 732-5261
0 Dewey Avenue
Warwick, RI
 
Hertz - T.F. Green Airport
(401) 738-7500
2000 Post Road
Providence, RI
Hours
Mo-Fr 0600-0030, Sa 0600-2400, Su 0600-0030
Special Services
Child Seats, Hand Controls for Disabled Drivers Only In-Car Navigation System , Ski Equipped Vehicles, Gold Counter Service
Additional Information
After Hours - After hour returns are allowed 0500-0030. Park vehicle in the Hertz area. Place keys and rental record in the drop box located at the counter.

Hertz Penske Truck Rental
(401) 463-5557
7 Fyffe Ave
Cranston, RI
 
Auto Rental Champs
(401) 941-1207
703 Park Ave
Cranston, RI
 
U-Haul Company
(401) 946-5019
801 Oaklawn Ave
Cranston, RI
 
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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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