I currently live in PB and I am 12 month into a 36 month lease. It’s a 2020 Kia Forte that I pay $202/month. I hate the car and hate that I have 24 months remaining, so my question to y’all is…if I make more than the minimum payments per month, does that give me the ability to turn the car in early? Like if I $300 instead of the $202, does that allow me to pay the balance off sooner so I can for myself of this lease?
Doesn’t quite work that way… instead of paying more monthly, give this a read:
There’s plenty of threads/topics related to selling your lease on LH. Good luck!
4 Likes
I’m curious as to what you hate about it. I took one for a drive and was impressed by the ride, for the category.
Maybe hate is a strong word…it’s just so basic, lots of plastic and just feels cheap. The ride itself is fine but the overall appearance of the vehicle is not something I’ve enjoyed
1 Like
I’m very new to this forum, could you possibly tag some of them? Thanks
Use the search function (magnifying glass icon). If you read the article, it’ll tell you some of the companies you can search for.
1 Like
Ok, what are you thinking about to replace the Forte.
Nothing right now. I’m the only one working and my wife is a stay at home mom so we only need just the one car
I think I get the gist of what you’re trying to say here.
If your lease is for 24 months at $202 a month, your total lease payoff is
$4848. Now if you want to pay $300 p/m, you can hit the pay off in 16 months instead of 24.
The way that works is just put the extra money aside every month ($100) in this case to make the math easier. By the end of 16 months, you will have $1600 sitting aside. Take the $1600 and payoff the remaining 8 payments to turn the car in early.
While not the option I would opt for personally, it certainly is one.
I thin you’ll be better off transferring out of the car than the option you’re trying to go for.
I just sold my 2019 Acura ILX lease to Carvana, got 2500$ over my payoff amount, cash on my pocket.
Check them out and also quote on Vroom, this way you can sell them your car and maybe get a little money back. Easy process on both, while vroom is more manual work.
Ya that sounds about right…I’ve gotten offers from carvana, autonation and vroom with carvana being the most but still about $1000 less than what I owe. I figure I’d rather pay that $1000 to cover the difference and make up for it by saving $200/month for 25 more months
If you are planning to trade it in or do a lease swap and use only one car, then I think your plan is good. Plus you will save on insurance. However, if a few months from now you actually do want a new car I would price a replacement now to get a sense. In my area on the other side of the country over the summer leases have been expensive because no one wants to take public transportation and I had a difficult time getting a sub $300 a month lease although I was looking more in the CRV/ Rouge range. Had I realized I would have kept my $159 a month lease on an Accord LX for another 6 months. If you are planning to replace it I would check out replacements now to make sure they are affordable. Also a couple of dealers I went to wanted to buy out my lease on my 2018 Highlander (which the CRV/Rouge was not replacing) because they need used cars on the east coast