My wife’s lease on her '21 Hyundai Sonata SE is up in June '24 and she only just now hit the 20k miles mark so she’s far under her mileage. I’ve heard of people trading in their leases early and somehow making money off them which they rollover into a new lease or just keep the cash on. Not sure what the buyout for her Sonata is for when the lease is up but I believe it’s around $15k. How would one go about trading it in? She’s particularly interested in leasing a Subaru but I have no knowledge in how leases are for those. I think she’s interested in the Ascent but again not sure how those lease.
Note: We’re set on trading the Sonata in considering no insurance companies are wanting to insure it because it’s a Hyundai.
Second, go through the list of third parties who will buy your lease, plug-in the VIN as if you own it, see how much anyone will actually pay for it. This will help you to establish a trade-in value.
The challenge with HMF is they are impossibly slow to process a lease buy-out. Very few third parties want to buy out their leases. You may need to buy it yourself first (and pay any sales tax) for someone to buy it.