Lease buy back program? Need some info...please read.
Hi all. New to the forum. I have a very specific question regarding my car lease.
I am currently leasing a 2013 Hyundai Veloster. I have 10months/payments left on this lease. I received a letter in the mail from my dealership saying they have a task, needing to buy at least 50 used Hyundai cars by the end of this month...and they will provide me with up to 20% more than book value since my car qualifies. Now I called the dealership and scheduled an appointment to talk in person about this. What's the catch?
My goal here is to try and trade the car back without any penalties so I can go ahead and lease a new Dodge Charger. I want to go in prepared and know what I'm talking about. I already asked over the phone and this deal does not require me to lease through them again, since I am doing them the favor of trading my car to them. Does this mean I won't be responsible for the remaining payments? Do I end up with a profit of some sort?
Thank you all. can't wait to hear your thoughts and gain some knowledgeable information.
I am currently leasing a 2013 Hyundai Veloster. I have 10months/payments left on this lease. I received a letter in the mail from my dealership saying they have a task, needing to buy at least 50 used Hyundai cars by the end of this month...and they will provide me with up to 20% more than book value since my car qualifies. Now I called the dealership and scheduled an appointment to talk in person about this. What's the catch?
My goal here is to try and trade the car back without any penalties so I can go ahead and lease a new Dodge Charger. I want to go in prepared and know what I'm talking about. I already asked over the phone and this deal does not require me to lease through them again, since I am doing them the favor of trading my car to them. Does this mean I won't be responsible for the remaining payments? Do I end up with a profit of some sort?
Thank you all. can't wait to hear your thoughts and gain some knowledgeable information.
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