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Lender will not negotiate Lease buyout?

PaperbackWriterPaperbackWriter Member Posts: 2
edited March 2019 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 Moderator Posts: 212,042

    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.

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  • PaperbackWriterPaperbackWriter Member Posts: 2
    So do you think I would be better off going through the dealer to do the buyout?
  • kyfdxkyfdx Moderator Posts: 212,042

    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.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

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