2019 Hyundai Ioniq EV (Ioniq Mania) - Lease End Nearing

So we are nearing the 3-year mark for all those Hyundai Ioniq EVs everyone jumped on. What’s everyone’s plans in the next few months? I’m assuming everyone will try to flip it to their dealer near them and try to cash in on their equity. I likely will purchase it and sell it down the line since we’ve gotten used to driving two electric cars and not paying $6 a gallon (SoCal). Anyways - what’s everyone’s plans?

How does ‘everyone’s plans’ change yours?

Do you like the car? Keep it,
Do you hate the car, Sell it.

Equity is dropping and you need to make a decision on what you want.

I purchased my vehicle shortly before the lease ended in June.

I could have sold it and pocketed some money, but there was no suitable replacement at anywhere close to the same price point.

My 3 year lease on a 2019 Ioniq expired in March this year. I extended the lease for 6 months (same monthly payment), and that date is coming up soon too. I plan to purchase it then, or maybe even earlier.

I extended the lease with the hope of acquiring a new one in that time period, and returning the Ioniq to the selling dealer as an incentive (he could make money in the equity). But I have not had good luck as the market has gone crazy and even with the trade-in offer I could not get anything that “worked for me.” So at this point I am just ready to buy it and keep it for a few years. I like the car and am happy with it - the primary reason to get a new lease would be to get 3 more years with an HOV lane sticker (and the newer car is nice too).

I know of a couple of people who have “sold” their lease to “the highest bidding dealer” but in both these cases they were reducing the number of cars in their household by 1 (due to reduced commute needs). If you need the same number of vehicles, encashing the equity is not going to be very financially beneficial, because you will pay an equivalent amount (or more) in markups on any new vehicle you purchase.