Sign a great deal and then transfer it

Ask the Hackrs
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I have a very noob question probably but I should still ask for my clarification.

Let’s assume I get a great deal on Hyundai’s ioniq 6 SEL for 24 months/12k miles and effective monthly payment of $350 all inclusive with nothing down and a residual of 34k.

Now, 6-8 months down the road life happens and I plan to move out of the country.

  1. How tough is it to transfer on a good deal?
  2. Does Hyundai allow it?
  3. What should I expect to be asked from the transfer person?
  4. Is it safe to give it to a friend and he just continues making payments etc?

Sorry for a bunch of questions but I just want to be sure before I sign anything.
In my naive mind I think swapping a good lease should be a piece of cake.
Just want to be sure.

2

This is from Swapalease.com

It isn’t the source, which would be Hyundai Motor Financial. They would have it in their terms, but would be harder to understand due to legal language.

HMF doesn’t allow lease swaps.

You could “give” the car to a friend and have them pay you instead, but this is quite risky in case of any accidents that may occur. I would not recommend this even temporarily.

If you want a car just for a few months, there are some lease takeovers for that duration.

If it’s only for a few months I would buy a cheap used car and sell it near the end.

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Non-starter since HMF doesn’t allow transfers.

You’re better better picking up someone else’s transfer for a shorter duration, lower risk.

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That absolutely makes sense.
It’s very likely that I’d continue the lease but just wanted to evaluate that option just in case.

Thank you for sharing your thoughts.

5

The problem is. That most leases I see on these websites are people trying get out of a bad decision or they drove too many miles.

Thank you for sharing your thoughts. The lease options on these EVs are so enticing and I have been wondering about having a second car since a while now.

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Probably less enticing when you add tax on selling price in Virginia

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What do you mean by “safe?”

He may make the payment, but you are still liable for the payments and any damage.

I wouldn’t do it.

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Makes sense - thank you for sharing.
I wouldn’t want to as well - just wanted to know if thats even an option - but seems like a bad one

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On the friend thing, you also have to keep it on your insurance and, if anything happens, defraud the insurance company by telling them your friend was simply borrowing it at the time. What are you doing out of the country? Oh, just on vacation, Mr insurance man. But then they find out the truth. Yikes. Insurance fraud is an ugly ugly thing to get caught up in.

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