Sell now or in February

measureman

measureman

Joined
Jul 18, 2010
Messages
1,307
Location
Colorado
My 2018 Elantra GT is out of lease in February.
Terms are I cant sell it to anyone but a Hyundai dealer.
But I can buy out the car and then do as I please.
The buy out will be about $10K.
On line Carvana has offered right now $17,500 and Car Max $18,800.
The question is do I buy the car now and get the title(will pay cash) or hope the used car market does not slow down in February.
I really dont need to keep this car.
 
measureman said:
My 2018 Elantra GT is out of lease in February.
Terms are I cant sell it to anyone but a Hyundai dealer.
But I can buy out the car and then do as I please.
The buy out will be about $10K.
On line Carvana has offered right now $17,500 and Car Max $18,800.
The question is do I buy the car now and get the title(will pay cash) or hope the used car market does not slow down in February.
I really dont need to keep this car.
Click to expand...
maybe check with dealer they might come pretty close and alot less juggling and fees(maybe)

So 10k to buy it now.. then sell and make 8k

or pay lease payments till feb. what is your buyout then? and sell for $$$$$ then.

plenty of info missing in here makes giving anything other than the most generic advice impossible.
 
Sell it take the cash and run., then go get a Craigslist ride and let the market settle down for a year. This will also give you time to think about what you really want.
 
Tons of used cars on the market where I live and they are not flying off the used lots. And I've been driving by the used lots that sell high mileage 2nd owner junk like Dodge Challengers-Chargers and those are rusting on the lots around me. Trucks, 3 row SUV's and compact SUV's are what people want. Cars are passe:(
 
measureman said:
My 2018 Elantra GT is out of lease in February.
Terms are I cant sell it to anyone but a Hyundai dealer.
But I can buy out the car and then do as I please.
The buy out will be about $10K.
On line Carvana has offered right now $17,500 and Car Max $18,800.
The question is do I buy the car now and get the title(will pay cash) or hope the used car market does not slow down in February.
I really dont need to keep this car.
Click to expand...

The used car market will not slow down until the new market picks up. Now-many publications are talking late Springs or even towards the end of next year before the "chip" thing is any where near normal. You have nothing to lose by buying it and reselling it-to one of the sources you mentioned.
 
skyactiv said:
Tons of used cars on the market where I live and they are not flying off the used lots. And I've been driving by the used lots that sell high mileage 2nd owner junk like Dodge Challengers-Chargers and those are rusting on the lots around me. Trucks, 3 row SUV's and compact SUV's are what people want. Cars are passe:(
Click to expand...
I wanted a 2018 - 2021 Dodge Challenger or Charger so bad and could not pull the trigger. I had folks I know owned a Charger and told me they had so many little nit picky items to need fixing and the Dealership no matter what it was made them wait a month or more for every single thing.
"Waiting on parts" was the line every time. They urged me NOT to buy one. They traded their one year old one in on a Subaru SUV.
 
I'd wait till Feb the situation by then is going to be no better and you'll have on your side the spring buying frenzy to help you get a better price
 
measureman said:
My 2018 Elantra GT is out of lease in February.
Terms are I cant sell it to anyone but a Hyundai dealer.
But I can buy out the car and then do as I please.
The buy out will be about $10K.
On line Carvana has offered right now $17,500 and Car Max $18,800.
The question is do I buy the car now and get the title(will pay cash) or hope the used car market does not slow down in February.
I really dont need to keep this car.
Click to expand...
If you don’t need the car now why pay the balance of lease payments. Buy it out now and sell to Carvana or Carnac and pocket the payments + profit.
 
measureman said:
No Hyundai does not do that.
You have to turn it in at a Hyundai dealer.
Click to expand...
If you read your lease contract there should be a buyout dollar amount. It was agreed to when the lease started, way back before this chip thing, and would very likely be beneficial to the current lessee.

Take that contract to Carvana or wherever and see if they'll front the money for the buyout, or however they do it.
 
measureman said:
My 2018 Elantra GT is out of lease in February.
Terms are I cant sell it to anyone but a Hyundai dealer.
But I can buy out the car and then do as I please.
The buy out will be about $10K.
On line Carvana has offered right now $17,500 and Car Max $18,800.
The question is do I buy the car now and get the title(will pay cash) or hope the used car market does not slow down in February.
I really dont need to keep this car.
Click to expand...
The used market isnt going to be slowing down any time soon, so theres your answer.
 
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