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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

Data Provided by:
U-Haul Company
(870) 932-0320
1700 Stadium Blvd
Jonesboro, AR
 
U-Haul Company
(870) 934-1117
428 N Culberhouse St
Jonesboro, AR
 
Penske Truck Rental
(479) 750-4333
1507 W Shady Grove Rd
Springdale, AR
 
Triangle Rent A Car
(910) 860-3400
1404 Skibo Rd
Fayetteville, AR
 
Enterprise Rent-A-Car
(870) 534-7766
2217 S Olive St
Pine Bluff, AR

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Hertz - West Memphis Municipal Airport
(901) 388-2338
737 South Airport Drive
West Memphis, AR
Hours
0500-0100 7 Days
Special Services
Child Seats, Hand Controls for Disabled Drivers Only
Additional Information
This location is for Private Flights only. Walkins are not allowed. After Hours - After hour returns are allowed.

Enterprise Rent A Car
(870) 972-0505
2800 S Caraway Rd
Jonesboro, AR
 
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.

Enterprise Rent-A-Car
(501) 537-2880
1 Airport Rd
Little Rock, 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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