Horrible experience trying to purchase Genesis at end-of-lease

[faizal]

My lease expiration date was August 27 so I walked in to Hyundai of Seattle on that day and told them I wanted to purchase. They gave me some nonsense about them being a new dealer so Hyundai Motor Finance wouldn't let them process the paperwork. I called H.M.F. and they extended my lease expiration date to give me more time to visit another dealer.

This morning I went to another Hyundai dealership in the area and waited while they tried to figure out what to do. Finally after an hour I left and said I'd come back tomorrow and sign the papers. When I called H.M.F. they said there was nothing they could do since they are not licensed to sell in Washington State which is why I have to go through a local dealer. The dealer told me that it's a lot of work for them and they don't make any money so no dealers want to do it.

Now they are trying to add on $150 in "documentary service fees" -- but they must have accidentally added it twice because my invoice is showing an additional $300 over the end-of-lease price (before tax and registration).

Has anybody dealt with this? It's a pretty frustrating experience... especially when all I want to do is give them my money and be on my way!

 

[TJPark01]

Check your original lease agreement. There could be a disposition fee on there, which could account for the other $150 you can't find. This is why I hate leasing, too much BS.

 

[BacktoHyundaibychoice]

A couple of things:

1. Why did you go in on expiration day? If you knew it was expiring, why not plan ahead?

2. Why did you go to a different dealer than where you got the car originally?

3. I understand the frustration, but was there any kind of communication at all?

4. The above post to check for a "disposition fee" is valid. Mine is in the contract at $400 but I expect it to be waived at trade-in or purchase of another Hyundai.

5. What I don't agree with is the above negativity to a lease. It's not for every one, but apparently worked for you. Positive equity I'm assuming or you wouldn't be purchasing. Details please so we all might learn something?

Thanks.

 

[Cut-Throat]

Another good reason not to lease. too many strings attached. Buy the car outright and then do what you wish.

 

[pjkad]

This may strictly have to do with Hyundai Finance not operating in your state. In my case (NJ) I did not deal with a dealer at all. You simply send in your payment to HMF, they send you docs for title transfer, take those to our motor vehicle bureau and its yours. There is no disposition fee when you buy your vehicle, only when you are returning it off lease.

 

[vitacura]

Not sure how it works with Hyundai, but with a BMW I leased and then purchased I dealt directly with BMWFS (BMW Financial Services). They gave me a payoff quote, I sent them the check and they mailed me some forms which I filled out and then I got the title shortly thereafter. I was able to bypass the dealer entirely. Any chance HMFC has that?

 

[Viking]

I had a very easy experience - similar to PJKAD's..

Leased the vehicle for two years and when it was up last month I simply sent in the check in to HMF and they sent me the sales receipt so I could process the title transfer.

No strings attached, no hidden fees, just the price that was on the original contract.

 

[wallymn]

Sorry to hear you are having problems. Call Hyundai and have them locate a dealer in your area assigned to handle this paperwork (they will likely force one of the dealerships you already contacted to process it)..

I didn't know it was this common to buy at the end of lease... I assumed they continually flip cars.... I drive way to many miles for it to make sense to me.

 

[sandy]

This may strictly have to do with Hyundai Finance not operating in your state. In my case (NJ) I did not deal with a dealer at all. You simply send in your payment to HMF, they send you docs for title transfer, take those to our motor vehicle bureau and its yours. There is no disposition fee when you buy your vehicle, only when you are returning it off lease.

This has been my experience, so far, in Ct. Called HMF, they gave me pay-of amount and I mailed check. Waiting for the bill of sale and title.

In some states you have to go through a dealer to make the purchase which complicates things.

Disposition fee of $400 is waived if you buy the car.

With 2009 lease, interest rates were so low that buying the car at lease end was no more expensive than buying it outright in the first place.....and, by leasing, you had the option of walking away at lease end if you were unhappy.

 

[JDC]

This has been my experience, so far, in Ct. Called HMF, they gave me pay-of amount and I mailed check. Waiting for the bill of sale and title.

In some states you have to go through a dealer to make the purchase which complicates things.

Disposition fee of $400 is waived if you buy the car.

With 2009 lease, interest rates were so low that buying the car at lease end was no more expensive than buying it outright in the first place.....and, by leasing, you had the option of walking away at lease end if you were unhappy.

In the end write John Krafcik, CEO of Hyundai Motors America. He appears to be a fairly positive manager for the consumer experience.

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