Can You Negotiate a Lease Buyout?

Finance Paperwork with Glasses

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.

Hyundai of Asheville 35.5874128, -82.5047619.