Lease Extension

#1

Hello Hackers

My lease will be up in June 2019 and I am eyeing the Telluride and Palisade as my next lease

I was about to just do a rental but Hyundai Financial has agreed to extend my lease month to month until I decide what to do

Are there any negatives on extending a month to month lease aside from renewing the registration?

TIA for your inputs

#2

Hyundai has a good B2B warranty, so you’re fine there. Maintenance including tires or possibly brakes would be the big concern if you’re on the cusp of needing them now.

#3

How many miles do you have on your vehicle? That will give you an idea of what you need for consumables.

#4

got 20,000 miles now.

i see that manufacturer service sched is 22,500 which is the minor service then 30,000 for a major service

#5

I have a question, when you said month to month means you do not have any commitment and you can just continue the lease like pay as go?
also what happen for residual value in month to month payment? is it going to change each month since some portion of your money goes to the RV ?

#6

your payoff amount changes since you’re buying down the car.

Typically on a lease extension, you just keep making same payment and get the same amount of miles/mo as you did before. Some brands have restrictions on how many months you can lease extend and some don’t allow it.

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#7

not sure. haven’t extended it. might return it sooner as i don’t want to pay the registration renewal

#8

You’re probably going to pay through the nose for a Telluride or Palisade rn… eating six months of reg seems more rationale than that.

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#9

Yeah, I’ve got to agree with this. I’m considering a lease extension. Paying the $300 in registration seems worth it to save a couple thousand when the new models have lost their luster and the incentives start pouring in.