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Car Buying Advice - 2015 Tucson Lease question???

jamesgtrzjamesgtrz Posts: 2
edited September 2017 in Hyundai
I currently am driving a company leased vehicle (2015 Tucson ). The lease is coming up in December at which point, the company will be returning the vehicle because they don't want to pay for it anymore. I am being given the option to purchase it if I would like. I really like the car so I am really thinking hard to finance and purchase the vehicle. Currently the monthly price being paid is $330. Does anyone have any tips on how to go about it? What steps should I take and what I am looking at to purchase the car? I am completely lost because I have never leased a car before, nor have I ever purchased a car after leasing.

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  • MichaellMichaell ColoradoPosts: 67,544
    jamesgtrz said:

    I currently am driving a company leased vehicle (2015 Tucson ). The lease is coming up in December at which point, the company will be returning the vehicle because they don't want to pay for it anymore. I am being given the option to purchase it if I would like. I really like the car so I am really thinking hard to finance and purchase the vehicle. Currently the monthly price being paid is $330. Does anyone have any tips on how to go about it? What steps should I take and what I am looking at to purchase the car? I am completely lost because I have never leased a car before, nor have I ever purchased a car after leasing.

    You should talk with your company about the buyout price - they should have that information.

    However, it is important to note that the buyout price may be higher than the true market value for a 2015 Tucson. Check your local dealers to see what the asking prices are on vehicles similar to yours.

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  • So I checked with my company and the buyout price at the end of the lease is $14,301.30, plus a purchase option fee of $400. IS there any negotiating to this when I bring in the car? or is it pretty much a set price? Any tips on how to handle this would be great. Thank you!
  • kyfdxkyfdx Posts: 72,458
    jamesgtrz said:

    So I checked with my company and the buyout price at the end of the lease is $14,301.30, plus a purchase option fee of $400. IS there any negotiating to this when I bring in the car? or is it pretty much a set price? Any tips on how to handle this would be great. Thank you!

    Most banks won't negotiate the buyout price. They'd rather cut it loose cheap to their dealers than make a deal with you.

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