First time leasing, questions about lease end options

[horseflesh]

I'm leasing a 2019 GT2 AWD and nearing the end of the lease in April. I understand my equity in the car is primarily based on how many miles I've driven vs what I optioned for in the lease (given everything else on the car is in good shape). Because of the pandemic and working from home I wound up driving a lot less over the past two years than I had planned. I'm estimating that I'll be at about 35,000 at lease end and my total allowance was 45,000. Is there a way to roughly estimate what kind of equity that comes out to?

The two nearest dealers to me do not have any 2022s whatsoever, and say they don't know if or when they'll get any in. I'm contemplating the new Genesis G70, but do I still need to go through the Kia dealership to buy the car just to turn around and trade it in to another brand dealership? Or since they are both owned by the parent company could they do the deal between themselves and Genesis give me the trade-in value leftover towards the G70? What about if it's another Kia dealership other than the one I leased from? If I found a 2022 elsewhere further afield, could another Kia dealership do the lease end for me?

Oooorrrrrr... I've come to realize that with both my partner and I working from home for the foreseeable future, we really could make it on one car (theirs) for a while. While I wouldn't walk away from a significant amount of equity, is it possible to "bank" it for a future purchase, like if they ever do get a 2022 GT2 in the color I want, or an EV6 GT later this year?

 

[Brittanyco511]

Hi! I'm a habitual leaser and here are my two cents.
I traded my 2019 optima for my 2022 Stinger in September 2021.
First off, you do not have to use the same dealership that you initially leased your car at. You can use any dealership! The dealership doesn't own the car at lease end, KIA does.
Second, do your research!! Get as many cash offers from places like Vroom, Carmax, Nada etc, as you possibly can. With the market as it is right now, used car values are outstanding. Use the highest offer you receive as your negotiation start. Or, try to sell your leased car to the highest bidder. (I found that a lot of companies cannot buy your lease for cash right now though... cause the manufacturer wants the cars back in their own inventory.)
If you cannot find the Stinger in inventory, you can always order one! I believe you put some money down upfront, something like $500 as a deposit. I always kept my eye on the KIA website. They will list what cars are in route to every dealership. You can contact those dealerships and see if any would be available once they arrive. I ran into pre-orders and deposits made already for this route.
I did a lot of research, you want to negotiate the price of the car you want first, then get them to give you your trade in offer after that portion is done. In this market you will probably find that you are on the extreme plus side of your buyout price. Be sure to not let them keep that money!! I ended up $6k over my lease end buyout, and traded it 3 months early.
If you want the Genesis, go for it!!! KIA charges like $400 for the lease end, but you can more than make that up with your trade.
Lastly, email the dealerships. Try to get them to give you pricing and everything up front in writing. They will try their hardest to get you to come in for all of that, but the research I did said do not go into the dealership until you have all the numbers and everything up front. Dealerships want/need used cars... don't let them bully you!!
And, no you can't bank your equity! You can get them to buy you out for your equity and put that in the bank for later though!!