Dad died - need some help with car lease | Serious section

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#1 3 months ago

OP

P1N

P1nhead

Mödley Crüe

4y 99,550 1,664

My dad passed unexpectedly at the begining of May. He had a lease he planned to buy (nothing special to anyone else, but special to me) but PA is a "dealer only state."

Of course, the dealers are salivating over the high value vs the buyout price... all are prepared to charge me about 14k more than the buyout.

Does anyone know of any Hyundai dealers or anyone that can work with Hyundai Motor Finance (in Pennsylvania) that can help me keep this car in the family and not have yet another kick in the balls?

Post last edited 87 days ago.

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#2 3 months ago

LTG

Pinside member

Hopkins, MN

12y 191K 58,271 24 7

I'm sorry your family lost a loved one.

LTG : (

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#3 3 months ago

JIM

Jamesays

Pinside+ Addict

San Jose, CA

3y 147K 11,120 8 19

Sorry ,my condolences.Nothing to help with your other issue.

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#4 3 months ago

SQL

Deadrock

Pinside member

Calgary, AB

6y 37,800 88 5

Possible resource to help you: https://www.trustworthy.com/blog/leased-vehicle-when-someone-dies

Sorry for your loss.

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#5 3 months ago

JAY

JBtheAVguy

Pinside member

5y 65,300 671

Condolences on the loss of your dad.

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#6 3 months ago

MLN

Mank

Pinside+ Frequent

Buffalo, NY

11y 82,050 706

Wait a second. The leased vehicle buy-out goes to the estate even if there is no co-signer?

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#7 3 months ago

SRV

jpinb

Pinside+ Addict

Milford, OH

11y 63,550 192 11 1

Sorry for your loss.

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#8 3 months ago

OP

P1N

P1nhead

Mödley Crüe

4y 99,550 1,664

Quoted from Mank:
Wait a second. The leased vehicle buy-out goes to the estate even if there is no co-signer?

I wish. Hyundai finance says if his car was registered in Ohio, I could simply send a check... but in PA, it has to be done through a dealer - every dealer says the same thing:
the estate is responsible for remaining lease payments; however, the estate has no right to buy out the lease.

There is nothing in the lease prohibiting a buyout from the estate (in fact, I could terminate the lease in death, so no payments are owed).

Each dealer wants to "buy the car" for the buyout price and turn around and sell it for $14k more than they paid... and offering nothing of value through the process.

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#9 3 months ago

TPD

tomdrum

Tom's Pinball

Port Matilda, PA

7y 170K 10,197 14 52 1

OP
Quoted from P1nhead:
I wish. Hyundai finance says if his car was registered in Ohio, I could simply send a check... but in PA, it has to be done through a dealer - every dealer says the same thing:
the estate is responsible for remaining lease payments; however, the estate has no right to buy out the lease.
There is nothing in the lease prohibiting a buyout from the estate (in fact, I could terminate the lease in death, so no payments are owed).
Each dealer wants to "buy the car" for the buyout price and turn around and sell it for $14k more than they paid... and offering nothing of value through the process.

Sorry for your loss. I lost mine as well. Does it have to been done thru a Hyundia dealer or any PA registered car dealer?

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#10 3 months ago

JJW

JWilberdog

Pinside+ Addict

<1y 65,600 262 54

Every state is different and I owned a dealership for over 2 decades in probably the one with the most red tape-CA.

Let me ask some of my title and dmv connections and see if I can help. Sorry for your loss
Jason

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#11 3 months ago

NJL

Whistles

Pinside member

Burnsville, MN

10y 64,800 1,344 1

PA has some of the strangest laws on the books, local ones to county even. So many strange "code" type stuff long since unenforced.

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#12 3 months ago

JEC

bluespin

Pinside+ Frequent

Johns Creek, GA

7y 141K 9,519 48 1 1

Sorry for your loss

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#13 3 months ago

JP

jake35

Pinside+ Frequent

7y 116K 2,579 25 9 1

sorry for your loss. I've been in the insurance business for over 25 years and hold licenses in many different states, and PA is one of the strangest in regards to consumer law. It's the only state out of 50 that requires life insurance agents to provide customers with a document disclosing their policy cash values for year 5,10 and 15 when they purchase coverage (even if they don't care or have a need for the cash value).

I had no idea about the lease laws but seems like that would harm the family. Hopefully you can find someone on here with a PA dealer license that will help you out.

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#14 3 months ago

CHK

thechakapakuni2

Pinside member

Los Angeles, CA

1y 65,550 1,236 6

OP
Quoted from P1nhead:
My dad passed unexpectedly at the begining of May. He had a lease he planned to buy (nothing special to anyone else, but special to me) but PA is a "dealer only state."
Of course, the dealers are salivating over the high value vs the buyout price... all are prepared to charge me about 14k more than the buyout.
Does anyone know of any Hyundai dealers or anyone that can work with Hyundai Motor Finance (in Pennsylvania) that can help me keep this car in the family and not have yet another kick in the balls?

Hey P1nhead - sorry about your pops. Lost mine in 2019. Crazy to think the man who made you is no longer here. He’ll be around in everything you do. I put my dad’s voice in some of the callouts in Indiana Jones. So hopefully your pops lived a great life.

Now onto the dealer nonsense. I just went through this with Hyundai. My ex who I was negotiating the deal for asked Hyundai for an extension. They are generally sympathetic towards these type of life events, so a phone call to extend the lease because of the circumstances of your dad passing away should be accepted, but you’ll need to call them. Now you will need to continue to pay the lease of course & insurance. I’m assuming you have proof that you are the direct heir of your dads estate and you might need the DC. That’s uncharted for me.

Once you have bought time, sometimes you can get Hyundai to finance you the payoff amount. If not then you’ll have to figure out how to get that.

In my ex case, I ran a quote for from Carmax which was thousands over what the payoff was. And the marketplace was thousands higher than that. So I wasn’t about to watch that get handed over so they could make a huge profit on it. So I made a contract with her that I own the car until it’s sold, then we split the difference after it’s sold. I get a couple grand, she gets a couple grand and gets to drive the car for an extra couple of months.

Got any relatives willing to make this kind of deal? Otherwise you might need to finance it with Hyundai or somewhere else.

That’s probably the best advice I can give you. If you were just trying to sell it, then that would be easier. But one way or another, the payoff will need to be paid if you plan on keeping it. I think the biggest issue is re-registering the car in another state. Don’t get me started on that

Good luck

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#15 3 months ago

OP

P1N

P1nhead

Mödley Crüe

4y 99,550 1,664

Quoted from tomdrum:
Sorry for your loss. I lost mine as well. Does it have to been done thru a Hyundia dealer or any PA registered car dealer?

wise1919 may know someone that can help me out. But it seems like it has to be returned/bought out through a Hyundai/Kia dealer... or at least someone that works with Hyundai motor finance.

I did try something called tresl the other week but they said the only way this will happen is if someone buys out the lease (dealer) and doesn't turn around and flip it for KBB (the buyout is so low compared to the KBB value).

Really hoping to be able to keep the car (and prevent the added sting of a dealer profiting so much off my dead father).

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#16 3 months ago

TCL

pinwhoo

Pinside member

Sorry for your loss.

#17 3 months ago

SDJ

SergioJ

Pinside member

11y 57,050 514 44 28

Sorry for your loss. You always think your parents are going to live forever. No specific help, but you may want to change your topic title to add something specific about the car lease issue. That might help catch the eyes of someone who can help. Good luck!