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Discussion Starter · #1 ·
I am coming off lease on my 2011 Sonata SE. 2.0T in about 6 months.

I got an email today from Hyundai explaining my end of lease options and it got me thinking. Has anyone had experience turning the car in to lease another and getting the dealer to waive mileage charge for going over the allowed mileage?
I have to look at my contract but if I remember the mileage charge is .25 per mile. That wouuld be about $6k in mileage charges.

I've been able to do this with other leases but this is my first Hyundai lease.

It was a 3 yr lease with 36K allowed miles. I have almost 51K miles on the car and by the time the lease ends Ill probably be at about 60K. I was planning on buying but am starting to see little things go wrong with the car.

Also, how likely is Hyudai to allow me to get out of the lease early?
 

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I will never understand car leasing. Crash and and have the insurance company pay for it.
 

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Discussion Starter · #7 ·
Bank owns the car, not the dealer.
I'm aware that the dealer does not own the car but what m talking about is the dealer "forgiving 6 k"or how ever they do it so that I don't have to pay it if I give the car back and get another. If that means taking 6 k off the price of the car then that works for me. If it means they buy the car from Hyundai motor finance then turn around and sell it that would work. Even if they don't go the full amount. I'd be ok with them only meeting me half way.

I just don't know that if I bought it at lease end and tried to sell that I'd get what I bought it for
 

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My buddy just had the same issue when he got his new Mazda 6. He had pretty close to the same mileage as you and he ended up being 4k in the hole on the lease after some negotiating. He ended up working the 4k into his payment when he got his new car.
 

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I'm sure if u r getting another car from them u can work a deal ,but they will not forgive the $6000, but they will most likely meet u half way then add the additional to your new car payment. Kelly blue book has trade in at $14700 and private sale around 17000. If they won't work with you try another dealer.
 

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Just go in and talk to them and see what your options are. I know a lot of dealers will accept the lease back early and waive the remaining payments if you lease/buy a new car from them. Might be best to get out now before adding more miles.

Your lease payment, residual, etc is all calculated based upon knowing the car will have 36K or less miles on it when you return. I would be shocked if they waived the fee but you could use that to negotiate a new car or possibly roll it into the new car loan.
 

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be careful, most dealers don't have that much leeway. what they like doing is putting it on the back end of what ever you buy/lease new. the most generous program i've seen is where they take the car back 10 months early, but even then its like a maximum of 3500.00 i can't see a dealer eating 6k. there's simply not enough profit in the car to make it worth it....
 

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No dealer is going to eat that much mileage.

OP, your best bet is to buy the car outright. 18K is not horrible for a buyout price, assuming you are doing a cash purchase or low interest financing (remember you will be financing a USED car so the rates are a bit higher).

Also, if you see that there is stuff going wrong, GET IT FIXED!! That's what the warranty is for. They can and will penalize you for bringing in a car with defects. On my last (and only) lease, Ford reminded you to have a service visit for any outstanding issues.

If you so desire, turn around and trade / sell the car. However, I would guess its in very good shape, mileage is low and the 10/100k transfers to you (only time it will is when you are buying out the lease) so you still have plenty of powertrain warranty.

The decision is yours though...'14s are kind of pricey and the 2015 is not that far away from hitting the ground. Me personally, I would not get a 2014 Sonata.
 
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