Lease Termination/Buy Out

[Ant86]

Just to start off, I love my 2015 Ultimate, however I have to part ways with it immediately. I'm only 9 months into my lease and have 27 months to go at $440 a month.

Has anybody been able to successfully terminate their lease without being in the hole for over $10k. Dealer buy out by Hyundai Financial is $40k but all the dealers in the area won't offer more than $29k.

Swapalease has an Off Lease Program, so if anybody is interested I can sell them the car through that program.

Any and all suggestions welcome. Thank you.

 

[WHYTE5OH]

Yeah, your screwed on this one unless you do a swap lease. Maybe wait another 8 months and see what happens. I looked at doing a trade in and was pretty much in the same boat.

 

[penga25]

i looked into this, swapping your lease is a no go. HMF wont allow it unless you die.

 

[cletus]

Carmax?

 

[Aquineas]

Stating the obvious I'm sure, but do you have a family member or friend you trust that can take it over? It's obviously not ideal, but you appear to be in a bit of a pickle.

 

[Genentec]

how many miles does your car have and how many miles are you allowed to drive a year ? 15k miles ?

this means the actual retail value is like 32k for a ultimate right now

 

[srobak]

HMF wont allow it unless you die.

Ant86 - where will you be on November 3rd at 230pm?

this means the actual retail value is like 32k for a ultimate right now

Remember he has a 15.

 

[Ant86]

how many miles does your car have and how many miles are you allowed to drive a year ? 15k miles ?

this means the actual retail value is like 32k for a ultimate right now

I have 10k a year and I'm up to 9,800, however the car was a demo with 2,500 miles on it when I got it. So on the books I drove 7,300 so far.

Even at 32k value I'm out 8k to terminate the lease.

 

[Ant86]

Ant86 - where will you be on November 3rd at 230pm?



Remember he has a 15.

On November 3rd I'll probably be driving my Genesis around somewhere. Looking to buy it?

 

[Ant86]

Stating the obvious I'm sure, but do you have a family member or friend you trust that can take it over? It's obviously not ideal, but you appear to be in a bit of a pickle.

Looked into that as well. Anybody I trust is also stuck in a lease and can't take mine, although plenty want it.

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[Ant86]

Anybody heard of the Off Lease Program by Swapalease?

You post the car with monthly finance payments based on the dealer buy out price. If somebody agrees to buy it then the buyers bank pays HMF and you're home free. At least that's the way it was explained to me.

 

[srobak]

On November 3rd I'll probably be driving my Genesis around somewhere. Looking to buy it?

Already have one. Look at the post I quoted in my question, however. If that's what HMA needs.... perhaps we can arrange it.

 

[ksoze]

Anybody heard of the Off Lease Program by Swapalease?

Swap a lease is an option but is a crap shoot finding the right buyer. It also caters more to buyers looming to get into a high end ride for cheap and a short time. The Hyundai is not that kind of a car.

Getting out of lease is like ending a bad marriage - it's either very expensive or you find someone else willing to take on your problem.