I’m seriously considering Getting an EV9 and doing an immediate lease buyout to get the $7500 rebate and still own the car. This is my first experience with Leasing. I usually buy a car and own for 10 years.
How do I best position myself for the buyout? What are the downsides of a large down payment on a lease? Do I do minimal cash at signing and then use cash and a loan to buy out? We are looking at a significant down payment (30-40%) to buy. We may trade in our current 2014 fusion hybrid. I recently got a good carvana quote. I’d be happy if the trade in matched that quote or maybe we will sell ourselves.
I need to work with my dealer to get detailed lease numbers and make sure I’m making the right move. Once I have those figures I plan to call Kia and ask some detailed questions about their buyout process get some more accurate figures and try to anticipate any unexpected fees.
I’ve already checked with 2 lenders offering reasonable rates (5.27% and 4.99%) and they will finance a lease buyout. Obviously I would want to have the buy out loan lined up before signing so we can move quickly after signing.
What else am I missing? Thanks.