Teach me about leasing

[16hypen3sp]

But I didn’t own the car. I leased it from Hyundai Capital Canada. How come I signed a BOS? I’ve never done this before so I was unsure.

[Xtrema]

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Have you guys ever switched from leasing to financing? Essentially buying the car out and financing the residual? I just did this with my G80 but it seemed kind of weird to me. Had to sign a BOS as the seller so the dealership bought it. Then sold it back to me. Did this last Friday.

Is that right?

Genesis Finance is still waiting for the lump sum residual amount from the dealer.

Sounds overly complicated. Buying out at MBFS doesn't even involve dealership, just call and wire the money and they send you the title within a week.

But I know tons other brands requires you to deal with dealer so they can charge you $500-$1000 for the process.

[LilDrunkenSmurf]

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Have you guys ever switched from leasing to financing? Essentially buying the car out and financing the residual? I just did this with my G80 but it seemed kind of weird to me. Had to sign a BOS as the seller so the dealership bought it. Then sold it back to me. Did this last Friday.

Is that right?

Genesis Finance is still waiting for the lump sum residual amount from the dealer.

Yeah, I haven't had that. I just went into the dearler, setup financing for the buyout, and then they gave me an updated title.

[spike98]

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Have you guys ever switched from leasing to financing? Essentially buying the car out and financing the residual? I just did this with my G80 but it seemed kind of weird to me. Had to sign a BOS as the seller so the dealership bought it. Then sold it back to me. Did this last Friday.

Is that right?

Genesis Finance is still waiting for the lump sum residual amount from the dealer.

I could be wrong, but i believe doing it this way allows you to get CPO status and warranty. Also dealer rates are always better than bank rates. That said, the dealer also gets an extra nut out of you though financing kickbacks or "admin fees" on the deal.

[ExtraSlow]

Win win.