Ending lease early to start new lease
Has anyone underwent a new lease but ended up trading it in for a new one? I started a lease on Elantra N-Line in Jan 2021, but once I saw the Elantra N reveal I am 100% dead set on getting it day 1. Generally what can I expect for cost for early termination? Maybe 10k?
Tagged:
0
Best Answer
-
Michaell
Moderator Posts: 266,102
It depends.azuki said:Has anyone underwent a new lease but ended up trading it in for a new one? I started a lease on Elantra N-Line in Jan 2021, but once I saw the Elantra N reveal I am 100% dead set on getting it day 1. Generally what can I expect for cost for early termination? Maybe 10k?
Like financing, your lease will have a buyout value, and your existing car will also have a trade value. The difference between those two numbers will determine your out of pocket costs.
Call the bank that holds your lease and ask them for the payoff, and get buy bids from CarMax, Carvana and Vroom on the trade value.Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige0