Can I Buy Out My Hyundai Lease?

Leasing a Hyundai car is an increasingly popular choice over buying one outright. It offers a number of advantages, such as lower monthly payments, less commitment, and the ability to drive the newest Hyundai cars when they are first released.

A Hyundai lease also offers a simple lease-end process. When your lease term comes to an end, you have three options, one of which is to buy out the lease. Could this be for you?

Lease-End Options

The decision of what to do at end of your lease is something that should be considered months before the endpoint. As always, the experts at our Hyundai finance center are here to walk you through every step of the way. You have three primary options when your lease comes to an end:

• Buy out the lease
• Return the leased car and purchase or lease a different Hyundai car
• Return the leased car and walk away

What Is a Lease Buyout?

Now that you know that a lease buyout is possible, here’s an overview of how it works. A lease buyout is based on residual value, which is a quote that is calculated at the beginning of your lease agreement based on projected depreciation. There are two types of lease buyouts:

• Lease-end buyout: This type of buyout allows you to purchase the vehicle at the end of your lease. It’s a common and straightforward method of buying out your lease.
• Early lease buyout: You’re also able to buy out your Hyundai lease before the term ends. However, this comes with unique hurdles.

For more information on how to buy out your Hyundai lease, contact the friendly Hyundai finance professionals at Kearny Mesa Hyundai. We’ll be happy to walk you through the process and help you decide if you’d like to keep your leased Hyundai vehicle for the long haul.