Figured this might be the best place to ask.

So, wife has a lease (2016 Hyundai Tuscon) is at about month 25 of a 42 month lease. Long story short, with getting married and wanting to start a family, we have realized the Tuscon was not going to cut it, so we want to try and get out of it into actually owning something larger (Right now she is really leaning towards the 4Runner or Highlander)

Can we just take the lease to another dealership or would we have to go thru Hyundai? Would it be best to try and "switch" into a normal loan and then turn around and sell it or just pay off the residual in one lump sum? Figure we are going to take a loss, so we are just trying to mitigate it as best as possible.

The unfortunate situation is that she has been putting more miles on it than her lease allows (she changed jobs after getting it and really underestimated her daily commute), so she is on pace to end the lease approx 8k over mileage ( $.20/mile)

Anything thoughts or advice would be appreciated.

HummingbirdSaltalamacchia said:

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Figured this might be the best place to ask.

So, wife has a lease (2016 Hyundai Tuscon) is at about month 25 of a 42 month lease. Long story short, with getting married and wanting to start a family, we have realized the Tuscon was not going to cut it, so we want to try and get out of it into actually owning something larger (Right now she is really leaning towards the 4Runner or Highlander)

Can we just take the lease to another dealership or would we have to go thru Hyundai? Would it be best to try and "switch" into a normal loan and then turn around and sell it or just pay off the residual in one lump sum? Figure we are going to take a loss, so we are just trying to mitigate it as best as possible.

The unfortunate situation is that she has been putting more miles on it than her lease allows (she changed jobs after getting it and really underestimated her daily commute), so she is on pace to end the lease approx 8k over mileage ( $.20/mile)

Anything thoughts or advice would be appreciated.

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First step has to be a review the lease document. It will outline early termination provisions like penalties which may sway your decision one way or another.

Not trying to be an ass or derail this, but unless you are having multiples you may just want to make the Tuscon work. Interior-wise does a 4Runner or Highlander really offer that much more room? Father of 2 bigger kids so I've been through this!

To be honest i am not entirely sure. it feels like it does, but i dont know the specs. but, the wife has pretty much made up her mind that the tuscon wont work so i am trying to do what i can to appease her. he dont have any littles on the way yet, but we certainly would like to have 1 in the next year or 2.

just trying to get as much info as i can so we can make the best possible decision.

HummingbirdSaltalamacchia said:

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To be honest i am not entirely sure. it feels like it does, but i dont know the specs. but, the wife has pretty much made up her mind that the tuscon wont work so i am trying to do what i can to appease her. he dont have any littles on the way yet, but we certainly would like to have 1 in the next year or 2.

just trying to get as much info as i can so we can make the best possible decision.

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You'll be a lot closer to the end of your lease if you do this. This is most likely the right financial decision.

If you aren't looking to have kids for at least 12 months, then why does she need a bigger vehicle now?

Lease will be up in 17 mos. A year and a 1/2 and you will be done.
She will be pregnant 9 of those.

Even with the end of lease fees and over-mileage cost?

Pretty sure those costs will be taken into account if you try to swap/trade it in now to a dealership.

I'd first try to get my wife to understand that it's better to turn in a car over mileage than get out over mileage AND 17 months early. I'd then look into LeaseTrader.com or just trade it in on a bigger car and eat the fees.

aggiepaintrain said:

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Buying a vehicle now based on having kids in a year or 2 is dumb imho

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Reminds me of my single friends that bought houses in the burbs and then had to sell & buy another one a neighborhood over cause their Bs didn't want a house that another B slept in.