Lease buyout - Hyundai Elantra Forum
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post #1 of 3 (permalink) Old 03-16-2014, 04:01 PM Thread Starter
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Lease buyout

Sorry if this has been covered on here, I'm new and used the search and didn't see anything come up.

We have a 2013 Elantra on lease we're looking to figure out what to do with. The lease is up at the end of July 2015. One option is to trade it in this summer (we are under water). Another it to keep it until the lease is up and possibly buy it, then turn around and immediately trade it in. We like it, but it is getting to the point it doesn't fit out lifestyle needs anymore. We can't just turn it in at the end of the lease because we'll be way over on miles (we're better off trading it even while under water).

I've heard with some companies you can buy the vehicle after the lease is up for a price closer to wholesale vs. the amount stated on the lease. Has anyone here done this with Hyundai? I know they are a bit more particular with some things regarding leases than other companies.

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post #2 of 3 (permalink) Old 03-17-2014, 07:24 AM
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One thing to keep in mind is that as the years go by the improve on the vehicle so if that matters to you, going for a brand new 2015 model in late 2014 or 2015 might be the better thing to do.

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post #3 of 3 (permalink) Old 03-19-2014, 08:15 AM
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You can usually get out of a lease early without it messing up your credit if you are trading it in for something new. If you're not already over the miles for the year (if it's a 3 year 32K mile lease you have 12k to use every year) you might want to look into that. You would have to stick with Hyundai, you wouldn't be able to jump brands, but it might be an option. Also, have you looked into upping your miles? Most of the time you can add miles to your lease agreement. Your payment would go up and they may prorate it, but it may save you some money.
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