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.
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.
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.
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.
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.
