Can You Negotiate a Lease Buyout?

Suppose your car lease comes to an end, but you love your car and want to keep it. Can you negotiate a lease buyout? Actually, many Black Mountain drivers choose to do just that. If your lease term ends but you’d like to own your vehicle, an end-of-lease negotiation is a way to convert your lease into a financing deal.

Read on to learn how to negotiate a car lease buyout for your leased Hyundai vehicle, and don’t hesitate to contact the friendly auto finance experts at Hyundai of Asheville with any further questions.

Should You Choose End-of-Lease Negotiation?

There are several types of lease buyout, but most Hendersonville and Weaverville-area Hyundai drivers opt for lease-end buyout. This may be your best best if:

• Repairs and maintenance costs for your vehicle have been minor.
• You’d rather keep your current Hyundai than trade in for a new model.
• Your end-of-lease negotiation results in a low interest rate to finance your lease buyout.
• There’s no other similarly-priced vehicle that you want more.

Another advantage of lease-end buyout is that you know your vehicle’s history — because you were the one driving it! You already know your car’s maintenance and service history, and how to keep it in great shape.

Lease-End vs. Early Lease Buyout

Can you negotiate a lease buyout early instead of waiting till lease-end? Yes, but end-of-lease negotiation is a little different from buying out your lease early. Early lease buyout involves purchasing the car for the amount still remaining on the lease. It’s a good choice if you have concerns about exceeding lease restrictions like mileage limits, or if your vehicle has undergone major repairs. To calculate your buyout price, add the following costs:

• Amount still owed on the lease.
• Lease-end residual value noted on the original lease contract.
• Depreciation due to repairs can cause your car’s value to drop below market value. If that happens, you’ll owe the difference between your car’s value and the market value.
• Early termination fees (around $200 to $500) plus remaining depreciation costs.
• Disposition fee to prepare the car for resale.

Learn More About How to Negotiate a Car Lease Buyout with Hyundai of Asheville

At Hyundai of Asheville, we’re here to find you a lease lease deal that works for your budget! Reach out to learn why Asheville drivers rely on the Hyundai of Asheville finance center for fair prices and fantastic service.