I just have a quick question about residuals with HMFUSA.
I currently lease a 2015 Genesis that ends in Feb next year. I know that all the way along my lease if I log into the HMFUSA website, it says my payout figure is approx $33,000. The actual residual at lease end is $27,400. But, for some reason, even after almost 3 years of paying the lease off, the payout figure NEVER goes down.
Is it just me, or does this just seem weird or wrong? I HAVEN’T actually called HMFUSA about it, but as the lease comes closer to an end and I start thinking about either handing the car back or trading it in, it’s beginning to be something that matters to me a little more. I would have thought the payout amount gradually reduces over time until it almost matches the RV.
Has anyone else had a similar experience with HMFUSA or any other leasing financial institution?
Mauve they set payout to residual
My 2015 Sonata says residual 20k, current buyout 24k
Your buyout quote had to have been more than $33,000 three years ago.
Hey, Thanks for the reply.
Someone ran into the car about a year and a half ago. Call me weird, but I just kind of fell out of love with the car then …
So, I got a quote on a trade in, even back then it said the numbers were…33k buyout, 27.4k residual, but the killer was KBB value on it back then was 24, so that was the trade I was offered, so I knew then I would be keeping it till lease end. But ever since, every log in, I have just seen the 33k and the 27.4k, it has never changed at the HMFUSA website. If I look on credit karma or anything like that, it shows the balance of the “loan” going down, but not at the HMFUSA site.
Its certainly a great way for them to lock someone into a lease till lease end…make any early payout way higher than the RV!
Did you call them? Easier to get answers that way. They cannot play with numbers and set their own payoff and what not other than what contract says. Maybe an error?
Yeah its definitely gotta be a mistake
could someone let me know how to post a question about RV/MF on this forum?!