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Trade Leased Car White Hall AR

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.

Budget Rent A Car
(870) 663-4473
5501 S Olive St
Pine Bluff, AR

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Enterprise Auto Rental
(501) 537-2880
Airport Rd
Little, Rock, AR
 
Penske Truck Rental
(479) 649-8513
23 N 11th St
Fort Smith, AR
 
Hertz - 1019 North Walton Blvd HLE
(479) 254-6886
1019 North Walton Blvd
Bentonville, AR
Hours
Mo-Fr 0800-1700
Sa-Su Closed
Special Services
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., 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.

Enterprise Auto Rental
(501) 227-0622
804 N Rodney Parham Rd Ste 1
Little, Rock, AR
 
Enterprise Rent-A-Car
(870) 534-7766
2217 S Olive St
Pine Bluff, AR

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Hertz - Drake Field
(479) 443-4343
4500 South School Avenue
Fayetteville, AR
Hours
Mo-Fr 0800-2100
Sa-Su 0800-2000
Special Services
Child Seats, Hand Controls for Disabled Drivers Only
Additional Information
This location is for Private Flights only. Walkins are not allowed.

National Car Rental
(479) 478-0376
6700 Mckennon Blvd
Fort Smith, AR
 
U-Haul Company
(479) 649-9217
4700 Zero St
Fort Smith, AR
 
Enterprise Rent-A-Car
(501) 268-6099
2204 E Race Ave
Searcy, AR

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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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