Got paid $39.07/month to lease my Hyundai Elantra for 36 months

3 years ago, I got a good deal on a Hyundai Elantra 36/10 lease for $125/month +tax. My lease was ending so I got an online quote from Carvana.

The quote was for $15,403 which was far above my residual so Carvana gave me a check for $6,334.05. I even had a bunch of scratches on my front bumper and didn’t clean my car before they took it.

The total payments for the entire 36 month lease was $4,927.68 (tax included). The Carvana check was for $6,334.05. This meant I made a net profit $1,406.37 or I got paid $39.07/month to drive my car for 36 months.

$4,927.68 (Total Payments) - $6,334.05 (Carvana Check) =
-$1,406.37 :grinning:

ORIGINAL LEASE
2018 Hyundai Elantra SE
MSRP: $18835
Selling Price: $17,081
Monthly Payment: $ 125
Drive-Off Amount: $ 500
Months:36
Annual Mileage:10,000
MF: 0.00116
Residual: 46%
Incentives: $5,900 total
1. Lease Cash Rebate: $4,000
_ 2. Uber Rebate: $1,000.00_
_ 3. College Grad Rebate: $400.00_
_ 4. BoostUp Matching: $500.00_
Region: So-cal
Leasehackr Score: 12.9
Leasehackr Calculator Link:CALCULATOR | LEASEHACKR

25 Likes

That’s awesome :clap:t3:

Well done sir!

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Good job, crazy times.

So I guess when someone says “you have to pay me to drive that car” - it can actually happen.

10 Likes

Great deal. But then the dilemma that faces us all now is, what do you get now with all the historically mediocre deals right now?

Get something you’ll be able to trade out of in 6-12 mo or whenever there are good deals again. I chose a Bolt for this purpose

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You’re right. There are slim pickings out there but some of the EV deals are still available. Picking one up with a leasehackr score of 19.6 this Monday.

3 Likes

What’s your next lease ? An elamtra at the original price you got 3 years ago is NON existent today.

I’m doing the same

I just negotiated a Bolt for $173/month, 36/10, zero drive off, and will be signing papers on Monday.

9 Likes

You should be able to swap out of that no problem when you find something you like better. I like my Bolt so far though, combined with my home PV it’s nice to be driving on sunshine.

I thought Carvana didn’t accept leased vehicles as trade ins?

They do, although they are picky about which banks they buy from.

And these are mostly pure sales, not trade-ins.

1 Like

Thanks for the details Max G

Almost everyone turning in a lease (given current car shortage)should have some equity in their lease especially if you have low miles. Carvana is a perfect place to check. I just checked my Nautilus and I’ve got $4k if I turn it in early.

Leashackr score Infinity!

great going!

I was wondering just who on earth Carvana is actually going to sell a used, base spec Elantra to for what? $16-17k? but then it’s a low mileage, econobox with a fairly decent remaining warranty? so I guess there’ll be buyers. Especially in this market.

Nice! Now did you get a new car? I sold my old lease for a profit but got a meh deal on my new car.

Nice. Now is really a good time to sell used car.