Returning Lease Early, But Fully Paid Off?

My 2015 Kia Optima LX lease matures in 4 months and the monthly payment is $70.28 including LA’s 9.5% sales tax. Assuming the sales tax does not change, if I paid $70.28 * 4 = $281.12, get the car inspected, and returned early, what is that called and would I be charged a penalty?

I don’t think it’s called ending the lease early since most people who want to end their lease early don’t intend to pay off their remaining monthly payments. I’m going to call Kia Motors Finance (KMF) about this, but I don’t want to confuse them lol

One of my coworkers told me yeah, they would charge a penalty for early returns since storage isn’t free. But wouldn’t that just give the dealership an extra 4 months to try to sell my car? I’m definitely calling KMF later, but wanted to see if anyone on LeaseHackr has any insight on this matter. Ty guys!!!

I did something similar with my lease, but through US Bank. No issues at all. I was almost 6 months early. I think it will be fine.

No early turn in penalty. Just pay the remaining payments and the disposition fee when it comes due and you will be fine. Your coworker is wrong and probably someone who thinks $600 a month on a 320i is a good deal




Do you guys know what it’s called? Is it called “paying off lease, but returning early?” It’s not called “ending lease early” right?

Technically it IS an early return. With that said, if you pay the 4 remaining payments + disposition fee when due (along with any excess damage charges, if applicable), you’re fine.

Hopefully, they’re more lenient too lmao

There’s a 5" inch dent and apparently KMF doesn’t charge for dents under 4" inches, fingers crossed. For 10k miles/36 months, I only logged 14k miles too. :stuck_out_tongue:

Here’s where your problem lies…

IDK if Kia will allow you to get a EOL pre-inspection this early, but it’s worth a try. If the inspector comes out and says “yup, that’s a charge,” you’ll have time to either fix it, or just pay the cost they estimate it to be to fix.

If you just turn it in to the dealer and wash your hands of it, you’re at the mercy of whatever the inspector finds at that point. Unless the dealership buys it from you when you say “I’m out,” the car will be inspected one way or another.

Why not get a quote from carmax? with only 14k miles thats less than half of what is suppose to be on the vehicle or sell it to someone on craigslist just tell them they have to put 16k miles in 4 months and just pay you $200 on top of the lease transfer

Why would they have to put 16k on the car in 4 months? If the car is sold, they could put 50k miles on it in 4 months if they wanted to.

Hyundai doesn’t allow lease transfers. Would have to be an outright sale.

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There is no pre return penalty, you probably have equity in your car. Call Kia financial and get payoff.
I was in the same situation, went to Carmax they paid me more than what my payoff was and I got richer by $1K :slight_smile:

oh i didnt know about hyundai not allowing lease transfer :no_mouth:

Why not just keep it for 4 months? You may need to carry some trash or smelly fish.

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As long as it’s under 4 months, I think they’re okay with sending an inspector. Will definitely get it inspected before returning it though.

How close was Carmax’s valuation to KBB?

KBB says my car is worth ~$10k, but the KMF’s buyout is ~$12k.

I have Uber for that. But on a serious note, I’m going to have to pay for the remaining 4 months regardless and it’s just going to take up space if I’m not going to drive it.

Save $$$ on:

  1. Insurance (4 month refund)
  2. Car registration since it expires on the lease maturity date (Might as well get it inspected, returned early, and release liability from the car through the DMV).

Hey man what ended up happening with your early return? I’m in the same boat. Ended 3 months early but paid it in full along with disposition fee… finger crossed.