Lease ends in 4 months and need help as first time lease returner

Ask the Hackrs Buy/Finance
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1

Need help with my current situation. I am currently leasing a 2020 Hyundai Sonata SEL with Convenience package. My lease ends in July and I am starting now looking at vehicles but the value with my mileage (38k) is worth more compared to my buyout (KBB value of $21k and Buy-Out of $17.3k).

Lease is through HMF USA, Residual value is $16.5k,

Would it make sense to buy out my lease and sell or should I trade in and get another Hyundai. Don’t know if I will get any sort of credit or can negotiate it since there is some value but unsure how to go about that process.

This is my first lease/lease return and any insight/tips would be extremely helpful to me.

2

You may have more luck selling out the lease directly. 3rd party dealers werent buying hyundai leases for anwhile, but that seems to be easing off. Get a bunch of buyout quotes before taking on the sales tax liability of buying out yourself.

3

Also risking the offer drops after a month of waiting for paperwork after buying out