Hi, My 2021 Ultimate is coming up on lease end. I can turn it in and pay the mileage penalty or buy it out and either keep or sell. After 3 years we have 75K miles on it and it’s really been no issues besides bad factory tires in the beginning. It’s been our carpool and daily driver for everything really. The mileage only gives me an extra 25K miles out of it and I’m worried about the main battery costs to replace or if anything goes bad after 100K. Is the main battery something I should get checked out for health before lease end? I also don’t feel the dealer is that great in my area and don’t want to have other maintenance problems later. I would appreciate some realistic options from others here that have had theirs longer than I. Thanks.
The traction battery is probably the most reliable part in the car. I don't think I would worry about it. However, the Hyundai dealer may be able to check it out for you for a price. You can also go to Recurrent's web site and enter your VIN. https://www.recurrentauto.com/for-shoppers The dealership will be happy to sell you an extended warranty for the car. However the extended warranty probably will not cover the traction battery. Make sure you read what it covers and what your obligations are as far as maintenance. If you can't get a Hyundai extended warranty, I wouldn't get one. As to buying the car for the residual, I would check out the used price for the car on autotrader to see what it's really worth. If the residual is more than what the car is going for on autotrader, then turn the car back in. CarMax can also give you a trade-in price for the car. Are you on the hook for the extra mileage if you buy the car for the residual? Are you eligible for the used car tax credit if you buy the car? The dealer where I live also sucks, it takes at least one month to get in for anything, the service department doesn't answer the phone, and if you want an appointment you have to physically go to the dealership. I've been told they have two of their techs just working on rebuilding gas engines.
Yes. I already picked up the Hyundai extended warranty that goes to 10yrs/100k across the board, instead of 5yrs on some components. No, if I buy it out, I’m not on the hook for any mileage overage, but it’s like $8k. The question is really can I get 5-10 years out of the car or should I take the mileage hit and just find something else? Since I’m close to the 100k on the traction battery and it’s one of the original non recall SK batteries, I’m just worried how many more years/mileage I’ll realistically get out of it. I was not certain when I looked at the IRS site last year, if I was eligible for the used EV credit if I did the buy out (battery is Korean I think). Can someone confirm if the 2021 Kona EV is eligible and how much? It’s would definitely bring the buyout cost into better than break even. I’ll check out the links. Thanks
Unfortunately when the leasee buys out the original lease, they are not eligible for the used EV credit. I was in your situation a year ago with my 2019 that did have a replacement traction battery and I opted to buy out the lease instead of taking the hit for my mileage overage of about 18K. But I just recently traded in the 2019 for a high mileage lease on the new 2024 Kona, which I love, that is a serious upgrade from the original design of the 2019-2023 models. You may wish to check out current lease deals from Hyundai that seem very competitive.
Not sure. Thinking maybe hang on to it for a bit longer. A private party value is basically the buyout cost. I’m also waiting on a carmax quote just to check. I still would have 25K on the warranty as well. Maybe I can ask the other local dealers to see what options they can give me. See if they are worth while.
If you continue to drive the vehicle 25K miles a year. You are not going to get 5 years or more out of the vehicle. I could be wrong, but don't think the traction battery will be a problem outside of losing some range. I would be more concerned with the gear and motor issues. Since you already paid for an extended warranty, it's looking like you where planning on keeping the vehicle. So maybe that's your best move due to the high mileage.
Yes, for sure that mileage was untenable long term. Unfortunately job changed needs after we got the car and required us to go into work daily. That stopped at the end of last year, which was good for the car and our mental health. That’s why I am uncertain on longevity with the current unplanned mileage. I don’t think I have had any to date but I’ll have to check into the gear and motor issues. Thanks
I would have the gear oil changed to see if there is any metal before making your decision. Make sure the person changing the gear oil knows about your metal shavings concern. I suggest you read up on the posts from Kiwi about type of gear oil and whether or not a magnetic drain plug might be helpful.
