What makes more sense with Trade-In?

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US Sale

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I’m trying to game out the smartest move with regards to a possible trade-in.

Background: I currently have a vehicle financed at 2.99% and owe approx $13k.

I have another vehicle with I own free and clear and have an approx value of $10k.

I am attempting to lease a vehicle for my parents, and I am debating on the best use of the free and clear vehicle.

Would it make more sense to use the free and clear vehicle as a trade for a new vehicle (lease) or to sell the vehicle and use the proceeds to pay down my current 2.75% vehicle?

If it makes a difference, the new vehicle would be leased in NV (not sure of their specific tax rules).

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Posted: 3 months ago
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