I have a 2017 3 yrs/12K $94/mo ($500 down) lease that is due at the end of July. I have only put 17K miles on it as of today. My buyout quote per hmfusa.com is $13.7K. Can’t figure out if I should just buy it out or return it. I drive about 10 miles in a day primarily for work. What should I consider before making a decision?
I recall reading a recent post on here that said Hyundai and Kia permit lease extensions (not sure for how long) at the same monthly fee. If so, extend and give yourself time to think/research if the car still fits your needs. $94 per month is super cheap.
Should I expect an end of lease call from them or should I go ahead and call them?
I’d go ahead and call them now to discuss your options. HMF service has been super helpful for me.
They didnt call me, but did mail out some end of lease information. I extended mine, they let you take up to six months. Easy phone call. They email you a document that you e-sign, and that’s it. If you decide to turn in sooner than 6 months, they just ask that you call and let them know.
Find out what carvana and vroom would pay you for it.
Does extending change the residual value? caravan wants to offer $12.5K.
Check Vroom
My residual has gone down by my payment amount each month.
If you enjoy the car, and your buyout is at market value, then buy it. If not, don’t buy it.
Hello, do you know if usually Hyundai leases can be extended for more 6 months ? My 3 year lease will end in December, wanted 6 months more. Thanks!
I think so but please make a phone call to HMFUSA. They will tell You what is possible.
Thanks, Zenek!