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Trade Leased Car Westminster CO

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.

Centennial Leasing and Sales
(303) 429-2200
8471 Turnpike Drive, Suite 205
Westminster , CO
 
Finish Line Auto Body
(720) 887-3883
2255 W 92nd Avenue
Federal Heights , CO
 
Area Rent - Alls
(303) 429-3589
7900 N Federal Blvd
Westminster , CO
 
Penske Truck Rental
(303) 426-8086
7900 Federal Blvd
Westminster, CO
 
U-Haul Company
(303) 423-1292
6275 Wadsworth Byp
Westminster, CO
 
Lake Arbor Automotive & Truck
(303) 429-7700
9146 Marshall Place
Westminster , CO
 
Dollar
(303) 427-0331
3019 W 74th Ave
Westminster, CO
 
Enterprise Rent A Car
(303) 428-9999
7398 Federal Blvd
Westminster, CO
 
Enterprise Auto Rental
(303) 428-9999
398 Federal Blvd
Westminster, CO
 
Hertz Corp
(303) 650-9000
275 E 64th Ave
Westminster, CO
 

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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