I want to get out of my lease early and into the new 2011 Elantra!

  • Posted by a hidden member.
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    Feb 22, 2011 6:27 AM GMT
    So I leased a 2010 Hyundai Elantra back in May, for $199 a month for 24 months. I know it's a little early, but I really want the new Elantra since it's a complete redesign. Do you think the dealer will help me out, or will I end up getting ripped off? Should I wait a few months to make a few more payments before I actually try?

    I must say, Hyundai has really stepped up their game:

    2011_hyundai_avante_elantra_mpg.jpg
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    Feb 22, 2011 1:45 PM GMT
    I would wait. Check your lease over for early termination fees etc. Also the first model year of a redesign is usually not a good year to buy, lots of gremlins to workout.
  • HndsmKansan

    Posts: 16311

    Feb 22, 2011 1:49 PM GMT
    ridem71 saidI would wait. Check your lease over for early termination fees etc. Also the first model year of a redesign is usually not a good year to buy, lots of gremlins to workout.



    Jon is right... also I'd review your lease and see what penalties are going to be a part of breaking your lease. You might want to rethink it for awhile!
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    Feb 22, 2011 3:41 PM GMT
    I remember reading this site a while back hopefully it can help you

    http://www.carbuyingtips.com/lease.htm

    heres a tip from that same page

    How to Terminate Your Car Lease and Avoid Early Lease Termination Penalties

    Don't terminate your lease early, swap a lease instead! You got that BMW lease, or Honda Lease, or a Ford Lease several months ago, and you want out. Maybe you bit off more than you can chew, you got laid off, or have kids and suddenly the Accord won't cut it. Remember an auto lease is a contract, and early lease termination has stiff penalties, they usually want the remainder of the payments plus penalties. It makes no sense to terminate a lease early. They can ruin your credit and you won't be able to buy your next car. Most buyers don't know they are paying stiff penalties because car dealers mislead you with radio ads implying your obligation is gone once you trade in your leased car. What dealers really do is stack those penalties into the new car and spread out payments over 72 months so you don't notice, but the penalties are there, digging a deeper financial grave for you, now you'll be paying off 2 cars! Shift your strategy from terminating a lease early to a strategy of transferring your lease to another buyer via an auto lease trade. Use sites like Swapalease.com and LeaseTrader.com to transfer your car lease. It's your only salvation. They can do a car lease swap for you, and reassign your auto lease to another buyer. You list your car, there's plenty of buyers looking to get into a lease. They want your BMW lease, you already paid down payment, monthlies, and depreciation hit. To attract buyers, offer incentives like $100 cash to take over the lease. People love to get "discounts" or cash back. It works for carmakers. Here's some benefits:

    * With the car lease trade, a buyer takes over your car lease in their name, your name comes off the auto lease
    * No early lease termination penalties for you, your credit stays intact
    * It's cheaper than paying thousands in early lease termination penalties
    * You avoid car dealer scams, you are not trading in a car, you are giving it to another buyer

  • CuriousJockAZ

    Posts: 19129

    Feb 22, 2011 3:44 PM GMT
    The dealer may work with you to get you into the new Elantra if you go to the same dealership.
  • Posted by a hidden member.
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    Feb 22, 2011 4:57 PM GMT
    TakoTaiko saidI remember reading this site a while back hopefully it can help you

    http://www.carbuyingtips.com/lease.htm

    heres a tip from that same page

    How to Terminate Your Car Lease and Avoid Early Lease Termination Penalties

    Don't terminate your lease early, swap a lease instead! You got that BMW lease, or Honda Lease, or a Ford Lease several months ago, and you want out. Maybe you bit off more than you can chew, you got laid off, or have kids and suddenly the Accord won't cut it. Remember an auto lease is a contract, and early lease termination has stiff penalties, they usually want the remainder of the payments plus penalties. It makes no sense to terminate a lease early. They can ruin your credit and you won't be able to buy your next car. Most buyers don't know they are paying stiff penalties because car dealers mislead you with radio ads implying your obligation is gone once you trade in your leased car. What dealers really do is stack those penalties into the new car and spread out payments over 72 months so you don't notice, but the penalties are there, digging a deeper financial grave for you, now you'll be paying off 2 cars! Shift your strategy from terminating a lease early to a strategy of transferring your lease to another buyer via an auto lease trade. Use sites like Swapalease.com and LeaseTrader.com to transfer your car lease. It's your only salvation. They can do a car lease swap for you, and reassign your auto lease to another buyer. You list your car, there's plenty of buyers looking to get into a lease. They want your BMW lease, you already paid down payment, monthlies, and depreciation hit. To attract buyers, offer incentives like $100 cash to take over the lease. People love to get "discounts" or cash back. It works for carmakers. Here's some benefits:

    * With the car lease trade, a buyer takes over your car lease in their name, your name comes off the auto lease
    * No early lease termination penalties for you, your credit stays intact
    * It's cheaper than paying thousands in early lease termination penalties
    * You avoid car dealer scams, you are not trading in a car, you are giving it to another buyer



    That's funny, I actually have my car listed on Swap-A-Lease lol!
  • rnch

    Posts: 11524

    Feb 22, 2011 5:32 PM GMT
    [quote][cite]cowboycasanova said...I must say, Hyundai has really stepped up their game...[/quote]


    yes, they have! 2 months ago, i was dealocked between a new sonota or a new camry.


    BUT


    the hyundai dealer TRIED to dry foicke me on my trade in; the toyota dealer offered me a much better deal.
  • Posted by a hidden member.
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    Feb 22, 2011 8:52 PM GMT
    That, or buy the next car. Leasing is never a good option for individuals.
  • MikeG1

    Posts: 1

    Dec 06, 2011 5:41 AM GMT
    Guys there is this company they buy out your lease
    And they don't charge any thing , a friend of mine had one month left he had to pay disposition fee $450 at the end of the lease and he had some dents he would be responsible for they took him out of the lease month in advance and he walked away free. I went to them right after I had six months left on my Audi q7 they bought the car out 2 days later they picked up my car. Wow its amazing I din't pay a penny . You can try them , the guy I dealt with his name is Alex 917-577 5382icon_neutral.gifgood luck