My 2019 Hyundai Sonata 36 month lease ends on Apr 1st and I got a buyout quote of $14038 with sales tax of $1179 included. I can extend lease 6 month more for original lease deal, $112 per month (it was $3000 down)
Since lease deals are spiking these days, I was wondering should I extend my lease or just buyout and wait until lease deals get better.
Carmax carvana vroom all offered around $19000 but since I have to get a new car if I sell it, I think my best option is extend it or buyout for now?
What do you think it is best to do for nowdays market situation?
Extend it 6 months and see what happens in the fall. If the economy craters with this war, cars may start sitting on lots instead of flying off.
There again, things might remain the same. My crystal ball is broken today. At 112/mo though, I’d ride that out. You won’t touch that today.
I wouldn’t buy it out unless you plan on selling immediately or you plan on driving it into the ground as you run the risk of used car values plummeting and you get stuck holding the bag.
Even with the cost of an annual registration you might only get 6 months use from, $112/mo for 6 months is unbeatable, especially since your car is still under warranty.
Yes, registration renewal came out to be $274 so 6 month with $112 plus $274 is still good deal I guess. Also I drove only 12780 miles which is far below 30k miles so I think I might still be able get some profit from selling it to 3rd party after 6 month extention maybe?
So you think extending my lease for now is the best option?
With Hyundai, when you extend the lease for 6 months, you don’t have to keep the car for the full six months. You can re-evaluate at any time (all the same options that you have at the end of the regular lease period) so if your situation were to change in the middle of the renewal, you have no obligation to continue.
