I have a 2018 Hyundai Elantra with a lease maturity date of March 2021. I am way under on miles and the car is in great shape, so based on the low buyout price I have with HMF, I believe I will have a bit of equity when lease end comes.
I’m wondering if I would be able to trade the car in early-ish (around end of this year) to trade up and lease a 2021 Tucson next. Would be nice to have it for a road trip we are going on at the end of the year. Also, wondering if there might be better end of year deals than what I might be able to get when lease ends in March.
Is such a thing possible (upgrading three months early?) Apart from paying the rest of the car payments are there other things I will be on the hook for?
Yes you can upgrade early HMF I believe only offer 3mo pull-a-head during certain seasons or time(s) (might be wrong). You can always check out third-parties like Carvana, Vroom and see if you are able to make out with any positive equity for your upcoming lease.
It is. My residual value is $9,472.85. Carvana is quoting $13,293 when I put in my info, and $12,493 when factoring how much I still owe in lease payments.
I know the dealership won’t offer what Carvana is offering, but might they be willing to use some equity toward the new vehicle?