Your payments will total $20,800 over 48 months. Add the residual to that and that would be $37,800. Aside from interest for the residual (assuming you will finance that if you buy it out), it's not that much more than if you had financed it to begin with.
Had you financed the vehicle to begin with at say 1.99% for 72 months, your payments would have been $530 anyway. I would in no way waste any money from your savings getting out the lease at the moment...
Unless you truly cannot swing the $520 payment (which you should of known from the get go), I would just enjoy the car until you get close to the end of your lease and see what the car's value looks like then.. you will have options.. that's what leases are meant to do.
Had you financed the vehicle to begin with at say 1.99% for 72 months, your payments would have been $530 anyway. I would in no way waste any money from your savings getting out the lease at the moment...
Unless you truly cannot swing the $520 payment (which you should of known from the get go), I would just enjoy the car until you get close to the end of your lease and see what the car's value looks like then.. you will have options.. that's what leases are meant to do.
Oh I can swing it no issues. Just buyers remorse I guess.
Its a beautiful car. Love the panoramic sunroof. Just pricey. lol
Please close thread. Lesson learned I guess. Ill keep building up savings for the home next year
My goal is $25k by Dec
Its a beautiful car. Love the panoramic sunroof. Just pricey. lol
Please close thread. Lesson learned I guess. Ill keep building up savings for the home next year
My goal is $25k by Dec
@Anonymous wrote:So Im 22. Recent college grad. Have good credit. I leased a 2015 Hyundia Sonata 2.0 TURBO FULLY LOADED.
Sticker was $36k.
I did 48 months at $520 a month.
Its a great car but Its so dang expensive and I wont even own it.
Residual Value is around $17K.
The BUYOUT Quote is something stupid like $35k.
I have $15K in savings. What are my options. Looked at a Honda civic SI but they wanted me to roll $12K into that purchase!?!? They were gonna give me like $20k for my brand new 2015 car that stickerd at $36k.
Ideas. Advice. LESSON LEARNED! NEVER AGAIN WILL I LEASE!
Yeah leasing is like an extended rental, all your money and you have no asset when it's over.
You're in a pretty good position with a good sized savings. I would probably do something like this: Buy the car, using half the savings to cut it down. Negotiate aggressively to lower the 35k quote. Pay $7k down, then on a 72 month loan you'll be paying only around $400 monthly to own.
But with an ownership loan, you then have more options. After a year or less you can refi, lowering your payment even more. You can trade in for a car you like better. You won't be upside down on the loan, since you paid a good chunk down.
@Anonymous wrote:So Im 22. Recent college grad. Have good credit. I leased a 2015 Hyundia Sonata 2.0 TURBO FULLY LOADED.
Sticker was $36k.
I did 48 months at $520 a month.
Its a great car but Its so dang expensive and I wont even own it.
Residual Value is around $17K.
The BUYOUT Quote is something stupid like $35k.
I have $15K in savings. What are my options. Looked at a Honda civic SI but they wanted me to roll $12K into that purchase!?!? They were gonna give me like $20k for my brand new 2015 car that stickerd at $36k.
Ideas. Advice. LESSON LEARNED! NEVER AGAIN WILL I LEASE!
$36k for a hyundai? 
@antso91 wrote:
@Anonymous wrote:
Yea. Look at the genesis it's like $55k for a Hyundai
@Anonymous wrote:
And the Equis is like $75kI'm sorry but who in their right minds pays this much for a Hyundai?? That's Cadillac and Mercedes money, you've gotta be downright nuts to pay that much for a Hyundai.
My thoughts exactly when doing a drive through of the local Hyundai lot when my friend who owns a Tucson insisted I check out a Hyundai before I went to the Dodge dealership.
I did like the commercial though... the one where 4 cars were driving without drivers and the computer was keeping it between the ditches... pretty impressive.
