Anyone had experience of buying out a Kia? I tried calling Kia Finance, but they never heard of such thing. Here is why would I consider it:
- I only have 17k miles as I work 6 miles from home.
- It is fully loaded, and I can’t find a car cheaper than $55k to match these features.
- The warranty is phenomenal, 10 years and due to their engine mishap, 15 years on the engine.
- For being 4 years old, it is still quite a looker.
Buyout is $17k plus tax and I see it retail around $19k, however, wouldn’t Kia lose a ton by me returning the car to them and auctioning it off? If I could save a couple of grand I’d be very happy.
Don’t know Kia policy specifically but most captives don’t negotiate on RV before, during or after lease. You best bet is trying CarMax to see what’s up and maybe then trying buying and selling it on your own if the price of your time allows.
They will not negotiate. Option :
Dealer can help if he can buy out at market prices and then back to you.
I think in this case I would lose my first owner warranty.
They aren’t going to negotiate with you. You either buy it at the residual or turn it in.
I bought myself out of an Optima a couple of years ago. You should be able to easily get the buyout amount through the Hyundai Motor Finance website, then it’s just a matter of sending them a check for that amount after you secure financing.
You’re basically buying a used car, except it’s a used car that you already possess and the price isn’t negotiable.