One of the easiest ways to make money from your lease, especially when it has low miles and is still in perfect shape and generally with good equity, is to trade in your lease to a third party or a dealership.
With the recent hike in the price of used vehicles, exiting your Hyundai lease early could be a big blessing. Besides saving money from selling your Hyundai lease, you also stand a chance to make a profit. But then, should you sell your Hyundai lease to dealerships like VIP Auto lease or used car dealers like Vroom and CarMax?
Can I sell My Financed Hyundai Lease?
One of the big highlights of leasing a Hyundai is that you can return your lease whenever you want. However, you may end up spending more doing so. But that seems to be a long time ago. With the recent hike in the value of used cars, there’s never been a better time for anyone to get out of a lease early than now. Instead of paying for getting out of your lease early, you can even profit by selling your lease.
If any auto lender finances your Hyundai lease, you can sell your Hyundai lease for more than its residual or buyout value, then pay off your loan and still pocket some money. However, there is some clause here. If your current Hyundai lease is through Hyundai Motor financial or some banks and credit unions, including Wells Fargo, MetaBank, Exeter Finance Corp, Ally Bank, and RoadLoans, you can sell your Hyundai lease but never to a third party. While you’re free to purchase your Hyundai lease or sell it to a dealership like VIP Auto Lease, you can’t sell your Hyundai lease to used car dealers, including CarMax, Vroom, or Carvana.
Following the restriction from these banks and credit unions against third-party lease buyouts, there are pretty other options for you to explore. Ordinarily, to sell a lease, you have to purchase the lease at the buyout value or the amount determined by your leasing company. You can decide to purchase your lease yourself by taking loans from financial arms without third-party buyout restrictions or from your pocket. After that, you can sell your car privately or to used car dealers like Carvana or CarMax and make a profit.
While this route may sound exciting, it is pretty long, stressful, and largely inconvenient. Sometimes, you may end up paying more in taxes, reducing your profit margin.
Selling To VIP Auto Lease Vs. Carvana, CarMax, or Vroom
Dealerships like VIP Auto lease and used car dealers like Carvana and Vroom offer the easiest option for trading in a Hyundai lease. Whether you want to switch to a new vehicle or simply sell your lease, VIP Auto lease will always offer you the most rewarding way of getting out of your lease.
Unlike these used car dealers that can’t negotiate with some banks or credit unions, if you got your Hyundai through any of these financial arms or you want to take a loan to put you into a new lease, we can help you negotiate with your banks or credit union to swiftly get you out of your current lease and into a new lease in no time.
If you want to sell your lease, you can count on getting a great deal from us. Apart from running a quick appraisal of your car and subsequently offering you a great price, we also give you room to negotiate what you believe is a fair deal.
In the end, our goal is to see you walk away from VIP Auto Dealership showroom all smiles.
Care to make some money selling your Hyundai lease? Contact VIP Auto, 1204 Hylan Blvd, Staten Island, NY 10305 https://viplease.com/.