My 2020 Lease is coming up

[xray]

My Sangria Telluride lease is coming up in Nov. While I was in service, I took a peak and asked around about the shortage, price, and delivery time. They literally had no Tellurides on the lot. They were aggressive about buying back my Telluride. Explained delivery time was only a month (which I didn't believe) and the kicker was that prices had a $9k dealer markup. I sadly left knowing that I'm likely not getting a Telluride for a while. The car has 26k miles on it. When I got home I remembered that I had a buy option at end of lease. It says on contract $23k. At least now I know that I have an option to keep the car at that locked price. So what is the process when Its time to return it. I believe I have to pay a return fee of $700. So I can just bring a new loan or pay off the $23k and no other haggle with them? What do you guys suggest? Are they gonna try to pull anything or can I just keep it for that price without any bs?

 

[PittPa]

absolutely do not turn it in. You have a few options. Certain national car buyers will give you a price for your car, buy out your lease and cut you a check. Not sure how KIA fits in, you would have to call around or check online. This is the simpliest. The next would be for you to buy the car out with cash or financing and then decide what you want to do with it. You could drive it if you still need the car and have no other options or shop it around and sell the highest bidder. There might be some fee's in the fine print that should be in your contract, but you own the car at the residual price.

 

[Promethus78]

Car market is insane right now. Unless you absolutely hate it, keep it. You won't be able to find anything close for a reasonable price right now. If you dealer tries to push you into turning it in by saying they can't find anyone to finance your buyout, go get your own financing.

 

[Tell22SX]

You need to do your homework. These are tough times and a lot of greed with dealers. Based on my recent experience car buying and trade in experiences you should do a buy out. You can buy it, and either use it or sell it. You can sell it to a dealer, sell it to we buy any car. Go online do we buy any car and put your info in and get a quote. Do the math you probably have a decent return if you sell it after buying it or keep it and run it for awhile and still sell it and be way ahead.

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[xray]

Thanks guys! Ya, the reason the lease in the first place was, there was no shortage at the time and I liked the idea of just swapping cars every 3 years, although buying a car doesnt really prevent you from doing that anyways, so no more leases for me.

I think, what I'll do is get a bank loan before I show up there for the lease buy out. We love this kia but if the demand is so intense for them too, I wouldnt mind selling it then buying a new Toyota Highlander instead, unless they're having the same issues with shortages and markups. If so, forget it. Im not not gonna participate in this auto craze. this car still smells new. I can wait out another year or 2.

 

[tpgh]

This site is wonderful with a lot of expert advice and volumes of feedback for people in your same scenario.

List of places to sell or value your car online

In alphabetical order: AutoLendersGo AKA ALGO (Direct Link || LH Review Thread) Autonation (Direct Link || LH Review Thread) CarBuyerUSA (Direct Link || LH Review Thread) CarOffer (aka CarGurus) (Direct Link || LH Review Thread) Carmax (Direct Link || LH Review Thread) CarStub (Direct...

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