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Lender will not negotiate Lease buyout?

PaperbackWriterPaperbackWriter Posts: 2
edited March 11 in Hyundai
The lease on my 2016 Elantra is ending in 3 days and I just called Hyundai Motor Finance to initiate a lease buyout. The person on the phone quoted me a dollar amount for the buyout. When I then asked him if he would be able to work with me to lower the amount a bit, he said that the figure was non-negotiable. I then said thank you, I will be returning the car to the dealership on Thursday. He said ok, asked me if I had any more questions, and then the call ended. Is this normal? Does anybody know what I can do to get the buyout amount reduced?

Comments

  • kyfdxkyfdx Posts: 120,532

    The lease on my 2016 Elantra is ending in 3 days and I just called Hyundai Motor Finance to initiate a lease buyout. The person on the phone quoted me a dollar amount for the buyout. When I then asked him if he would be able to work with me to lower the amount a bit, he said that the figure was non-negotiable. I then said thank you, I will be returning the car to the dealership on Thursday. He said ok, asked me if I had any more questions, and then the call ended. Is this normal? Does anybody know what I can do to get the buyout amount reduced?

    Yes, that is typical.

    It has been a long time since banks negotiated lease buyouts. They'd rather cut a deal for one of their dealers, than give a lessee a deal.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • So do you think I would be better off going through the dealer to do the buyout?
  • kyfdxkyfdx Posts: 120,532

    So do you think I would be better off going through the dealer to do the buyout?

    The dealer can't get you a better deal, either, I don't think. Either you want it for the buyout price, or get another car. Any money the dealer saves, they will charge you on the other end.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

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