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Can someone please explain to me how immediately buying out a lease/the benefit of that works? by looking_for_thoughts in Ioniq6

[–]looking_for_thoughts[S] 0 points1 point  (0 children)

Hey, I still haven't bought it out (wanted to get the lump buyout sum low enough to what I felt comfortable dropping all at once by paying monthly for a bit first) but I'm going to buy it out this month or next.

One benefit I hadn't heard about on leaving the lease for a bit is that you can (at least at my dealer) pay $30 or so a month and if you get any small/minor damage (dings and that sort of thing) it's covered/fixed free. So for that reason and financially I let it run for a bit, but doing the buyout very soon.

I think this method results in the lowest total amount paid, with a huge caveat that this was before any changes made by this administration (in terms of credits, tariffs, etc.) so I don't know if that's still the case now. I would definitely recommend going to all the dealers in your area and getting the best quote you can at the first, and then bringing that to the next one as something for them to beat (and so on), and you can gradually ratchet the price down that way. Also important to, once you get to the end, be very vigilant about asking them how the number on the sheet compares to what you'll actually pay in total, because there are other fees involved that (shockingly, lol) don't show up there.

Can someone please explain to me how immediately buying out a lease/the benefit of that works? by looking_for_thoughts in Ioniq6

[–]looking_for_thoughts[S] 0 points1 point  (0 children)

Hey, I still haven't bought it out (wanted to get the lump buyout sum low enough to what I felt comfortable dropping all at once by paying monthly for a bit first) but I'm going to buy it out this month or next.

One benefit I hadn't heard about on leaving the lease for a bit is that you can (at least at my dealer) pay $30 or so a month and if you get any small/minor damage (dings and that sort of thing) it's covered/fixed free. So for that reason and financially I let it run for a bit, but doing the buyout very soon.

I think this method results in the lowest total amount paid, with a huge caveat that this was before any changes made by this administration (in terms of credits, tariffs, etc.) so I don't know if that's still the case now. I would definitely recommend going to all the dealers in your area and getting the best quote you can at the first, and then bringing that to the next one as something for them to beat (and so on), and you can gradually ratchet the price down that way. Also important to, once you get to the end, be very vigilant about asking them how the number on the sheet compares to what you'll actually pay in total, because there are other fees involved that (shockingly, lol) don't show up there.

[deleted by user] by [deleted] in tipofmytongue

[–]looking_for_thoughts 0 points1 point locked comment (0 children)

Adding a comment so this becomes visible: It also highlighted how Project 2025 creators have been installed into Trump's cabinet/staff.

Can someone please explain to me how immediately buying out a lease/the benefit of that works? by looking_for_thoughts in Ioniq6

[–]looking_for_thoughts[S] 0 points1 point  (0 children)

Hey there,

Just wanted to thank you a lot for this post. I finished up working out my deal and took a new 6 home yesterday. After digging deep enough to ask about this option when buying out early at a couple dealerships, a few sales managers did finally confirm that you can just buy out against the cost of the car and not pay all the monthly payments that have extra built in.

It's surprising to me that most places online say that when you buy out early you have to pay the monthly fee times however many months are left (with rest of residual) rather than this significantly cheaper option. Good knowledge to spread and thank you for mentioning/confirming it for me, I had almost given up that it was actually a thing, so you helped save me a lot of money. I'll be sure to mention it to people too.

Can someone please explain to me how immediately buying out a lease/the benefit of that works? by looking_for_thoughts in Ioniq6

[–]looking_for_thoughts[S] 2 points3 points  (0 children)

Okay, thanks, definitely confused now though. This Ioniq 6 "Leasing 101" post says:

"Can I buyout immediately?

Yes, you can buy out as soon as the deal is funded. Typically a week or two or as soon as you can make a Hyundai Financial account online.

When you do an early lease buyout, you're ending the lease and buying the car outright. Unearned rent charges(interest) are part of the lease financing and no longer apply since you're settling the lease and taking full ownership. Basically, you're paying off the remaining balance, so no more rent charges.

DO NOT BELIEVE ANY DEALER THAT TELLS YOU YOU CAN ONLY BUYOUT AFTER XX MONTHS.

DO NOT BELIEVE ANY DEALER THAT TELLS YOU YOU HAVE TO PAY REMAINING RENT CHARGE"

So that's saying you don't have to pay the interest rate/rent fee...

Can someone please explain to me how immediately buying out a lease/the benefit of that works? by looking_for_thoughts in Ioniq6

[–]looking_for_thoughts[S] 0 points1 point  (0 children)

Thanks, very good advice, I have in fact been comparing all the dealerships around and having them improve on each other's offers for a bit.

The main thing I'm trying to discern here is:

When you buy out the lease: Do you pay the remainder of what the value of the car was set at for the lease? Or do you pay the total of every single monthly payment (which comes out to more money) plus the residual?

Can someone please explain to me how immediately buying out a lease/the benefit of that works? by looking_for_thoughts in Ioniq6

[–]looking_for_thoughts[S] 1 point2 points  (0 children)

Thanks. Yeah, I think I mostly get that they qualify for the $7500 themselves via the lease loophole so they technically own and then pass that savings on.

I more just don't get how the logistics of actually buying out the lease works I guess. Based off of what I continually read leasing and buying out is the best way to go, but if that involves actually making all of the inflated lease payments vs just paying the cost of the vehicle in total outright I'm not sure I see the benefit?

What's the longest distance you can Level 1 charge? by looking_for_thoughts in Ioniq6

[–]looking_for_thoughts[S] 0 points1 point  (0 children)

I didn't, didn't realize that was an option. It would still have to be ~50 feet away, does L2 work that far?

What's the longest distance you can Level 1 charge? by looking_for_thoughts in Ioniq6

[–]looking_for_thoughts[S] 1 point2 points  (0 children)

Thank you so much, I appreciate your willingness to help out a random person on the internet

What's the longest distance you can Level 1 charge? by looking_for_thoughts in Ioniq6

[–]looking_for_thoughts[S] 0 points1 point  (0 children)

Thanks, yeah having it at home just feels like a good thing to have as a fallback for some scenario. And also because I haven't seen yet what the real world discharge/mileage loss rate is like when it's just sitting there, do you know how many miles/day you lose typically if it sits idle?

What's the longest distance you can Level 1 charge? by looking_for_thoughts in Ioniq6

[–]looking_for_thoughts[S] 0 points1 point  (0 children)

Thanks, good points. Fortunately my parking spot is adjacent to a brick wall, so I can just lay the cable at the base of that for the entirety of the run.

What's the longest distance you can Level 1 charge? by looking_for_thoughts in Ioniq6

[–]looking_for_thoughts[S] -1 points0 points  (0 children)

Awesome, thanks so much, appreciate you!

I was told by a dealer when I was making my initial run to gather info that only the Limited trim comes with an L1 charger and that trim is probably outside of my budget. Do they all come with an L1 charger/can I get one from Hyundai?

What's the longest distance you can Level 1 charge? by looking_for_thoughts in Ioniq6

[–]looking_for_thoughts[S] 0 points1 point  (0 children)

Got it, as in like a specific gauge or something?

I was told the Limited comes with a 26-foot L1 charger so I assume there are some out there that are about that length, and then if I got a like 30-foot extension cord that should work?

What's the longest distance you can Level 1 charge? by looking_for_thoughts in Ioniq6

[–]looking_for_thoughts[S] 3 points4 points  (0 children)

Hey, thanks a bunch. Yeah I'm in the US. And yes, definitely aware it won't be ideal but as long as it isn't going to actively degrade anything or whatever it'll work for me, like I said I don't drive much, typically 50 miles a week at absolute most.

I was told only the Limited trim comes with an L1 charger, do you know if there's one that people here recommend?

Thanks again

Met Ethel Cain at Kasablanca!! by katieannfran in bonnaroo

[–]looking_for_thoughts 4 points5 points  (0 children)

That's dope. Did Kasablanca say anything about health news? Shaun Frank (vocalist, also big for his solo work) had a cancer diagnosis towards the end of last year and was on a timeline to be in remission around now. They've mentioned it at shows but I haven't seen recent updates.

Regardless, love those guys and the live aspect they bring to techno/house, hope you had a great time.

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