Lease swap - Hyundai

[Muhimbilidar]

What are best sites for lease swap? Any fees from Hyundai on lease transfers?

[HersheySweet]

Hyundai does not allow for lease transfers.

Hyundai Motor Finance Company lease transfer information

[mllcb42]

As @HersheySweet said, no lease swapping on Hyundai. If you want out, you’ll need to sell it.

[Muhimbilidar]

Thanks. That’s a bummer. I guess i have try selling to vroom or private party

[max_g]

Copy pasta … scroll down

In order to end your lease early, you would either a) have someone else assume your lease or b) have someone buyout the lease.

Lease Assumption:

Many brands will allow you to transfer out of your lease and assign it to someone else after paying a lease transfer fee and submitting required documentation. Those brands include BMW, Mercedes, Lexus etc.

Some brands will not allow lease transfers at all such as Honda, Mazda, Volvo, Jaguar, Hyundai etc.

A select few brands, such as Audi or Infiniti, allow lease transfers, but keep the original leasee liable. It is generally not recommended to do a transfer as you would remain liable for the car after transfer.

There are some other restrictions that can affect your ability to do a transfer such as remaining months on the lease and regional restrictions. It is best to check with your leasing company by calling them directly.

Once you decide you want to transfer out of your lease, you can post your car for free under LH’s private transfer section:

Private Transfers

Alternatively, you can list your car for a fee with www.swapalease.com or www.leasetrader.com which are two large lease transfer marketplaces that have a large user base of people actively looking to assume leases.

Lease Buyout:

You can have a third party buyout the car. In order to do that, you would call your leasing company and get the current “dealer payoff quote” which is the amount of money needed right now to payoff your car which will satisfy your lease agreement. Once you have that number you can take your car to your local Carmax and see what they would offer to buy your car. If the amount is near or above your dealer payoff quote, then you can sell it to them and you would be out of the lease. Alternatively, you can get an online quote from vroom.com or carvana.com who will give you an instant online offer. If you accept the offer, they would come and pick up the car from you and pay you on the spot. Ideally you would get a quote from all sources as they may vary significantly. For more information, please see forum discussions:

Sold one to CARVANA!

We got the VROOM topic going (Sold one to VROOM! - #254 by SunshineOC) but thought I’d throw in how easy it was with Carvana too, and why it’s important to check both. Put the wife’s Lexus data through both Vroom and Carvana, vroom was $2k under the payoff, Carvana was $45 over it. Submitted the paperwork for Carvana, got on the phone with them to discuss lease transfer stuff with Lexus in the state of MO (easy peasy). Setup a time for pickup to be 10am on a saturday. 10:02 am knock on the doo…

Sold one to VROOM!

Not a lease deal, but I sold my prior lease to Vroom.com today. I rarely plug companies, but holy cow it was easy! I also got a quote from Carvana, which was more than $2K below my payoff – Vroom was $1,600 over my payoff. Huge swing in my favor. For reference, the car was a 2016 Acura MDX with the tech package, black/black with just under 20K miles. My sense is that pricing is heavily driven by direct demand for inventory for the company, so pricing will be relative to demand for the color, o…

For additional information, make sure to check out Leasehacking 101: How to End Your Lease Early

Leasehacking 101: How to End Your Lease Early — LEASEHACKR