3 years ago I leased a Veracruz. I love my car and I am 2 months from the end of my lease. I got a call from Hyunda Financial Services a couple of weeks ago and they gave me 3 options.

The first is to buy back my car for $27,000, the second was to extend my lease by 6 months with the same payments, the final was to return the car and get an end of lease inspection.
I have taken great care of my car. They want me to pay 27K but the trade in value is only $22,000 which is significantly lower. The price they want me to pay is higher than the retail value on my same make and model.

http://www.automotive.com/2007/12/hy...ing/index.html

I want to keep this car but do not want to take a hit. Does anyone have any suggestions on what to do with Hyundai Financial Services to lower the residual value or buyout value?

 

If the car is still good and you still like it, take out a loan and buy it. It may cost more in the long run but it's cheaper than buying a new car, plus, you know the history of this car.

 

I hired a company yesterday called www.getyourcarback.com.

They are helping end my car lease. I will let you know how it works out. Good part is that I do not have to do anything because they are going to handle all of the end of lease issues.

If it doesn't work I can hire the company to bid on my car at auction. If this happens I will be able to buy my car for wholesale price. Will let you know what is going on.

 

Get Your Car Back sent me a comprehensive report outlining the buyout price on my vehicle. Through the report I saw actual sales prices at auctions broken down by region and nationally. It was a very comprehensive report that showed me my car is worth less than it what I thought by going to edmunds and doing a kelly blue book value on it. Pretty crazy.