End of Lease Financing options???

[C-Russ]

So this is the first car I have leased and I will be coming up on the end of it in July. What kind of options are available for finaincing? Does HMF offer you terms, if so are they any good, should I look at getting private financing like from a credit union?

Thanks any advice is appreciated.

 

[Disaster]

Most dealerships have multiple options, banks, credit unions and the OEM finance company, so they can get the best price and have the best chance of closing the deal. Like anything, it is best to have at least one known price going in, to bargain with.

You want to keep the finance separate from the vehicle price. First negotiate a price. Then negotiate a finance rate.

I went in with a rate from my local credit union and they beat it by half a percent. They ended up using Chase bank to get that rate. The same dealer used a credit union to get the best price on my previous lease.

 

[sandy]

I've been leasing for many years and have bought one or two of the cars along the way. Mostly I just turn them in, Negotiating a price at lease end is an interesting proposition. I've found that some lease holders will deal while others have a strict policy of sticking to the stated residual price. It has to do with the economics of the used car market at the time as well as, in some cases, agreements with their dealers not to compete with their used car sales. Some brands also have "pull-thru" programs where they offer to let you out of your lease 2 months early if you buy/lease a new vehicle. You should receive a "lease-end kit" from Hyundai Finance about 60 days prior to your end date which will outline your options and provide details on how to evaluate your vehicle in terms of excess wear and tear, if any. Please keep us posted.