Paying Off Hyundai Lease, Applying for New Lease

Hi,

I have a current Hyundai lease of a 2019 Kona with 12 months remaining that I’m selling to CarMax for $5700 over the payoff amount. And, I have negotiated a new lease with a Hyundai dealer for a 2022 Kona. Because I’m going through Hyundai Finance for the new lease do I worry about timing between CarMax paying off current lease and applying for the new lease? Hope I explained that well.

I wouldn’t expect it to be a big issue unless you’re incredibly marginal on your DTI.

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As long as your credit is pretty good to great you should be fine. Just curious- what did your monthly change from your old lease to the new one if it’s the same car? I am asking as I have 3k in positive equity on my Ioniq, but a new lease is about $40-70 a month more for the same exact car just new.

Monthly is going up $38.

DTI - is that debt-to-income ratio?

Still learning here.

Yes debt to income ratio. If you have good credit you should have nothing to worry about.

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