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Lease End Options on 2017 Hyundai Tucson

erm2430erm2430 Member Posts: 9
edited June 2020 in Hyundai
My lease on a 2017 Tucson ends in 6 months, but I got an email that said to prepare for the lease-end process. I know it's a bit early, but I was casually looking into finance options for a 2020 Palisade since the 60 month APR is low - 1.9%.

The residual value at lease end for the Tucson is $16,483, the current buyout is $19,614, and Edmunds appraised the Tucson at $18,800.

Tuscon details:
2017, Sport Utility 4-Dr
Engine: 1.6L L4 DOHC 16V
Miles: 24,500
No wear and tear

Do I have any leverage when it comes to finance negotiations for a 2020 Palisade SEL with both the convenience and premium packages? In other words, do I have any trade-in value in this situation? I've never turned in a lease with the intention to finance a new vehicle.

Thank you in advance for any help.

Comments

  • kyfdxkyfdx Moderator Posts: 198,917
    erm2430 said:

    My lease on a 2017 Tucson ends in 6 months, but I got an email that said to prepare for the lease-end process. I know it's a bit early, but I was casually looking into finance options for a 2020 Palisade since the 60 month APR is low - 1.9%.

    The residual value at lease end for the Tucson is $16,483, the current buyout is $19,614, and Edmunds appraised the Tucson at $18,800.

    Tuscon details:
    2017, Sport Utility 4-Dr
    Engine: 1.6L L4 DOHC 16V
    Miles: 24,500
    No wear and tear

    Do I have any leverage when it comes to finance negotiations for a 2020 Palisade SEL with both the convenience and premium packages? In other words, do I have any trade-in value in this situation? I've never turned in a lease with the intention to finance a new vehicle.

    Thank you in advance for any help.

    Appears that the current value is less than the payoff. Doesn't seem like that gives you any leverage.

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  • erm2430erm2430 Member Posts: 9
    edited June 2020
    I was happy with the lease deal. I only pay $350.77 per month for 36/12 with zero down. I got that deal from doing some research here at Edmunds.

    I'll be on a call with the dealership tomorrow morning and will see how low I can get them to go from the invoice price on the Palisade. Good thing is, I have plenty of time and if I wait until the fall, the 2021 Palisades will be out and surely the prices of the 2020's will drop.
  • MichaellMichaell ColoradoModerator Posts: 194,438
    erm2430 said:

    I was happy with the lease deal. I only pay $350.77 per month for 36/12 with zero down. I got that deal from doing some research here at Edmunds.

    I'll be on a call with the dealership tomorrow morning and will see how low I can get them to go from the invoice price on the Palisade. Good thing is, I have plenty of time and if I wait until the fall, the 2021 Palisades will be out and surely the prices of the 2020's will drop.

    You may have to adjust your thinking on the Palisade. Members are still reporting paying over MSRP on them.

    The Palisade is not a vehicle that leases well.

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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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