In GA, I have a 2019 Sonata that is coming up on the end of the 36-month lease at the end of February. I got the 10k/yr mileage option and am well under with only 19,800 miles. My residual value is $12,417.90 but I think it’s value is much more since it’s in great condition.
I know I have quite a few options here, but I’m not privy to the current car market, so I want to make the smartest decision.
Originally, I planned to trade in the Sonata and lease a Tuscon, as I want to upgrade to an SUV, and with potential desire to purchase the Tuscon at lease end. However, I don’t want to put any money down at signing or lose equity in the car I have.
Should I consider buying out my lease & eventually sell/trade-in with something like Carvana? Move forward with my original plan? Something you recommend that I’m not considering?
Any recommendations or suggestions or any help are so welcome!