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Hyundai Elantra 2001-2006

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  • ral2167ral2167 Posts: 642
    i was investigating a lease on an elantra-- what was troubling was-- for a car that had an MSRP of $14,330 (or thereabouts), the residual value after 36 months was $5732-- it came out to exactly 40%. A 60% loss in resale value (lease was also for 12000 miles a year, not 15000) seemed large.... suffice to say, the whole idea of leasing is to have lower monthly payments since you're only paying for the loss in value of the car for the 36 months only, but with such a large loss in value over the 36 months, i'm not sure the elantra is the way to go as far as a lease (the sentra i got a lease quote from showed a residual value of 54% after 39 months, or a loss of 46%). am i nuts in these numbers?
  • Hello,

    I probably shouldnt even be replying as I never leased a car before, BUT am curious about WHY it matters to you as a leasee UNLESS you are then planning on buying the car.

    I understand that when leasing, you should contract for the price that you would actually pay for the car which would bring it down to 12,500 with auto and rebates and a few little extras. Now, do your math and see what happens, BUT I still dont see a need to care. Hopefully I will learn something on this post.
    Cya
    Tony
  • ken126ken126 Posts: 39
    Does anyone know if the quality of the paint improved over the 2000 model. Last year I was looking at the 2000's and I noticed scratches already on the cars!!
  • The price that you actually pay for the car(cap cost) and what the vehicle is worth at the end(residual value),plus the interest rate(rate factor) are the main things that determines your payment. If the manufacturer has a "subsidised" program;i.e, low interest rates for a lease or they artificially raise the lease end value(in which case,you wouldn't want to buy it at the end because it would't be worth that amount),or a combination of both, can all affect the payments.So, if all you care about is the payment,look for competing cars and what the manufacturer has to offer.Hyundai Finance hasn't had a good lease program since 1997(at least in the eastern part of the USA),probably because they got burnt on the artifically high residuals that they placed on their vehicles!
  • ral2167ral2167 Posts: 642
    i have to believe a 40% residual value figure makes a big difference in leasing, despite what some of you are saying-- i did the math below.

    let's say I lease an elantra with a $14,330 MSRP, but the cap cost (what i actually negotiate the price down to) is $12,500. I used the edmunds leasing worksheet for this:

    MSRP: 14300
    Cap Cost: 12500
    Resid Value: 5732 (40% of MSRP after 36 months-- what Hyundai quoted me)
    Term Depreciation: 6768 (cap cost - resid value)
    Money Factor: .0031 (7.5% / 24)
    Monthly lease rate: 56.52 (12500 + 5732 times .0031)
    Monthly depreciation: 188 (6768 / 36)
    6% tax : 14.67 (56.52 + 188 times .06)
    Monthly Payment: $259.19 (56.52 + 188 + 14.67)

    NOW, if the Elantra had a 54% residual value that the Nissan dealer quoted on a Sentra), here's the numbers:

    MSRP: 14300
    Cap Cost: 12500
    Resid Value: 7738 (54% of MSRP after 36 months, not 40%)
    Term Depreciation: 4762 (cap cost - resid value)
    Money Factor: .0031 (7.5% / 24)
    Monthly lease rate: 62.74 (12500 + 7738 times .0031)
    Monthly depreciation: 132.28 (4762 / 36)
    6% tax : 11.70 (62.74 + 132.28 times .06)
    Monthly Payment: $206.72 (56.52 + 188 + 14.67)

    Seems to me, i would pay $206.72 a month, versus $259.19, if the elantra had a 54% residual value, and not the 40%. Am i missing something? If I am , please let me know...(heck, the acquisition fee was even higher for the elantra as well). Now, I've never leased before, so this is why I am trying to understand. Anyone help me?
  • I am guessing that you are perhaps intending to BUY the car and hope to save some money in doing so. I am not sure as you never mentioned your ultimate goal here.

    IF you financed the car, with 1000 down and for the dealer incentive rate of 0.9% and depending on the amount of time you decide to pay it back in, the figures below may help you .

    Tony

    Loan Amount 11,500 Loan Term (months) 48
    Rate 0.9%

    Rate Monthly Payment Total of Payments
    0.90 % $244.01 $11,712.55
  • I let my gas gauge get all the way to empty, then filled up the tank with only 11 gallons! Do other people have this? With a 14.5 gallon tank plus at least 0.5 gallons in the tube, that means there is still 4 gallons (almost 30% of tank) left at empty. Does this sound normal? I have a 2001. thanks
  • I think this is a great margin of safety. My expereience is that IF I stop filling when it clicks off, I can get almost 2 or more gallons into the tank.

    I think there is also a low fule lite on the dash some, I hope I never see mine lite up.

    Tony
  • ral2167ral2167 Posts: 642
    i own a solara-- i was just considering a second car for 36 months ..not to actually buy at the end of the lease.... i just find it confusing that on a 36 month lease with less money down, my monthly payment on a nissan sentra GXE lease (MSRP $15048) would be LESS than on a 36 month lease on an elantra with an MSRP of $14330. i think part of the reason was the hyundai had a 40% residual value versus the sentras 54%. in fact, hyundai quoted me a 36 month lease on the car with the $14,430 of $299/month -- plus i had to pay $525 acquisition fee/security deposit. the sentra i was quoted was around $225 (lower acquisition/no security deposit), and the MSRP on the sentra was, as I say, $15,048 versus the $14,330.
    I'm not putting down the elantra-- i just think having a 40% residual value might not make this the car to consider leasing. am i nuts?

    now i will admit this: i actually sat down at the nissan dealer and did some negotiating to get them down to the $225 price-- with the elantra, i just telephoned for a figure, and they called back with the numbers-- i didn't actually negotiate. but, in a previous post, i did base my numbers on a $12,500 selling price on the $14,330 MSRP-- and you could see it still was a higher monthly payment.
  • Again,the reason the Nissan is less is because the residual is higher(assuming the same msrp,selling price,and interest rate). I am not sure if they are subsidizing the residual. But, I will tell you this- Hyundais have never particularly leased well and its because of their perceived value on the used car market.
  • backybacky Twin CitiesPosts: 18,748
    Leasing: if you want the lowest lease payments, get a car that holds its resale value exceptionally well, like a Honda or Toyota. They typically have the lowest lease payments, even lower than higher-priced cars. Leasing a Hyundai is a losing proposition--you can get a loan with a lower payment than a lease, as someone noted. Sometimes you can find a great deal on a subsidized lease, like the $110/month lease I got on my '97 Sentra GXE. We won't see deals like that very often because of the bath that leasing companies took back in '97.

    Mats: My mats act exactly the opposite: the little hooks grab the mats so well, I have trouble getting them off the floor.

    Paint: My '01 (champagne) paint has held up very well so far, and had been through many car washes (the brushless kind of course!) with no trace of a scratch. I did apply Meguiars Clear Coat Wax this fall before the snow fell. Some posters have reported that the darker colors, especially black, tend to scratch more easily. Don't skimp on the wax! And watch out for the killer car washes with the brushes.

    Gas: Again, I seem to have a weird '01 Elantra, as my gas gauge is deadly accurate. By deadly I mean when the needle touches the "E" bar, and BEFORE the low gas light comes on, there's just a tad more than one gallon left. And as all the Civic fans will tell you, that won't get you very far in an Elantra. ;) When I fill it, there's almost no room left after the auto-filler clicks off (I found out the hard way, tried to squeeze some more in there the first time and saw it pour out the side.)

    Remotes: I got my second remote in the mail today, and scheduled the setup next Wednesday. The letter with the remote made it clear that two remotes are all that will work at one time--but a third remote can come in handy when they get lost (I know, my beautiful wife has lost both remotes for our Caravan). Once again, looks like I have a weird Elantra--another poster said his dealer took all day to set up his second remote, had to remove dash panels etc. My dealer told me it would take ten minutes. Nevertheless, I'm hiding these remotes from my wife.
  • I currently have a '98 Honda Accord and feel as if I was ripped off. So, now I am looking at buying the Elantra. So far, all I've heard are good things for the most part. I thought my mind was made. But, then yesterday, I came across someone who was driving a brand new Elantra. She said that it was a "piece of carp." When I asked her why, she said it made lot of noise when idling and that overall wasn't a "good" car. This of course puzzled me, since all other reports have been so positive. Can anyone help fill in the gaps by giving me some honest, direct information to go on? What I mean is, can anyone tell me if this really is a too good to be true' deal? Any and all comments would be appreciated.
  • ral2167ral2167 Posts: 642
    buy a new 2001 camry LE with a sticker of around 21000-- offer 18800 for it and they'll take it... or buy a used 2000 camry LE with less than 20000 miles on it for 15500. trust me.
  • I have a 01 Elantra and an 00 Sonata. I prefer the elantra anyday. By no means is it a ultra smooth, ultra quiet car, however, it rides exactly as I would have designed it. I get just under 35 mpg highway and around 28ish city.

    I have 3000 miles on it now and am totally amazed that the oil is as clean as new, it is actually hard to see it is sooooo clean.

    It starts, moves and stops. It cools and heats well also.

    In my opinion, it is an excellant buy and performer for the money. Until the other folks wake up, the resale value is not the greatest, BUT then again, it is a lot less up front in price too, so it may be a wash, I hear this isnt so.

    I dont live in my car and dont want to have to either. For a vehicle to sit in the parking lot while I am at the office, why buy anything else? Its only going to get dinged and rained on etc so why even consider more??

    01 elantra with auto was 12,500 for me.

    As for the comment the woman made, who knows what her problem REALLY is??

    Good luck deciding,

    Tony
  • imoodyrm & tonykrapic: That gal probably really wants a bimmer or some "large land mass" of a suv but could not swing the deal. I've driven the 2001 Elantra and belive me it is the best kept secret in it's class, a raging, run-away bargain. It is just as good as a Civic (oh my god this guy is nuts they'll say)for the money nothing in it's class can touch it. Side air bags standard, unheard of in this class up to now, very quick with 140 hp and quiet for it's class as well. Fit and finish as good as Civic and IMHO better paint finish as well.Resale ? Who cares ? In this class you are not gonna lose a lot of money anyway especially if you just drive the wheels off.

    Floridian

    Floridian
  • backybacky Twin CitiesPosts: 18,748
    Not my '01 Elantra 5spd--it idles quietly and without vibration. The '01 has hydraulic engine mounts and is much improved in this area from the '00--maybe the comments were regarding a '00. Furthermore, there's no vibration through the shifter, a problem that my '97 Sentra had (and I've heard even the new Sentras have). Cruising is quiet also. Now noise while accelerating is another thing--it's got a definite growl to it, which I find sporty but not everyone will. That's why you've got to go and drive the car yourself to see if it's to your liking--don't let other people (even those in this forum, like me) make up your mind for you. One suggestion: if you think you like the Elantra after a test drive, see if your local Hertz outlet rents '01 Elantras--I've seen them in several cities. If so, you can check one out for a day or two for $25-50 and get a real good idea what it's like to live with the car over more than a 15-minute test drive. Also you can get an idea of how it will hold up after being driven hard for awhile. It's amazing how many rattles a rental can develop after just a few thousand miles of "abuse" by rental customers.
  • Hi there!

    I went to the 2001 San Diego auto show yesterday, and I saw the Hyundai Elantra, and I really liked it's look, it's price, it's roomy interior, BUT, I thought the beige cloth pattern was not too attractive. The rep at the display told me that many people have said the same thing. She said it's either that interior, or the gray, which is not as bad, but I would prefer a lighter color inside my car.

    I went to the auto show thinking I would like the Mazda Protege, but that car kind of let me down with it's smaller-than-I-expected interior, and it's tinny sounding doors. The Hyundai caught my eye, but my wife and I are still hung up on that interior pattern. Anyone else notice this, or is this just something you get used to after awhile? I really with they had just a plain beige interior, without that ugly pattern.
  • does anyone know how the elantra compares to the ford focus? many posters are reporting very satisfactory results with the elantra, but i wonder how it compares with other vehicles.

    thanks
  • backybacky Twin CitiesPosts: 18,748
    Beige cloth: I have the beige interior, champagne paint. I like the interior except for the cloth color--I refer to it fondly as "puke brown"--it even has the little bits of color to remind me of...well, never mind. The grey is much more attractive, but the only paint color I like with the grey interior is pewter, and they didn't have it in stock when I purchased. It's not something that bothers me that much, after all when I'm driving I'm not looking at the seats, and overall I really like the car. But if I had it to do over again I would probably wait until they got a pewter car in stock.

    Focus: I've driven several Focuses (Foci?) as rental cars. It was that experience that led me to cross the Focus off my list. Here's my impressions of the Focus (note that this is based on the SE, non-Zetec, and automatic):

    * Uncomfortable driving position, for me. This problem has been reported in some reviews in auto mags also. May not be a problem for everyone, but take a long test drive. My Elantra is much more comfortable in comparison.
    * Nice handling--I think the best feature of the car. A little crisper than the Elantra.
    * Ride is not bad, but not as smooth as the Elantra. I haven't tried holdling a full cup of coffee while driving over railroad tracks, as in the commercial, but I don't think I would want to.
    * Good base stereo--sounds better than the Elantra's base unit.
    * Pretty roomy back seat, but I think the Elantra's is actually roomier (with front seats adjusted for 5'10" driver).
    * Acceleration not that good, but not a fair comparison to the Elantra since mine is a 5spd, 140hp and I only drove the Focus with auto and base engine. Check out the ZTS 5spd.
    * Poor fit and finish and overall quality. This is what turned me off most of all from the Focus. Every Focus I drove, some brand new, some with 10K miles, had rattles and/or loose trim pieces falling off the car, both interior and exterior. Doors sound tinny when you slam them. That, plus the stories I had heard about poor quality on the Focus, was the clincher. The Elantra in comparison has excellent fit and finish inside and out, and the rental Elantras ('00 models) I've driven were always tight and rattle-free. Throw in the price differential between the Focus and Elantra (would need to get a ZTS to have a comparable car), plus the Elantra's warranty, and it was no contest for me.
  • Check out this review.


    http://carpoint.msn.com/vip/Jedlicka/Hyundai/Elantra/2001.asp


    Actually, if you know anything about the car already, you probably won't learn much from this review.


    It brings up two questions for me, though. First, he claims the Elantra doesn't offer traction control. I thought it was available with the package 5 (ABS brakes, etc.).


    Second, he says that the 5 speed revs at 3400 RPMS at 65mph. Is that so? Sounds pretty high to me. Anyone with the 5 speed find this to be the case? Is it loud or annoying? I'm wondering because I do lots of highway driving...


    JK

  • ken126ken126 Posts: 39
    That doesnt sound to good to be revving at 3400 doing 65 mph. No wonder the gas mileage is not as good as it should be. My prizm revs at 2100 doing 65 mph, which is a pretty big difference. Even so, when the hatchback hits the US, I'm buying.......
  • I used the link in #558 and looked at the article too. I very recently drove an '01 with automatic and took note of the engine speed at 65 mph; it was in the low 2300 rpm range. It doesn't make any sense what so ever that the manual would require another 1000 rpm to maintain the same speed. I am no engineer, but if the motor is turning 30% faster to maintain the same speed, wouldn't it by default be getting at least 30% less gas mileage? Yet, I believe the automatic and the 5 speed get the same highway mileage rating. If you look at Jedlicka's ( the fellow from MSN Carpoints) article on the new Mazda Protege', which is posted with the article on the Elantra, it has almost the identical set of notes (except it says 3400 at 70 mph). My theory is either the poor slob working for Jedlicka typed it wrong, or old Jedlicka got his files mixed up. That's my story and I am sticking to it!
  • Some of these reviews the guys make typos...
    I have a 5 spd 2001 Elantra: 2400-2500 rpms at 100 kph (metric) or 62 mph...My Chrysler Concorde with a 2.7 V-6 at the same speed 2100 rpms.

    At a little over 140 kph or 85+ mph about 3200 rpm approx. at that speed I'm busy driving and not staring at the gauges.

    This (in my opinion) is one of the smoothest 4-cylinders on the market...

    Makes you wonder how accurate the rest of that persons review is whether he ever drove the car or just his keyboard...I'd rate him 1 out 10 since it's this guys job to know what he is talking about maybe his hard-drive is turning over at 3400 rpm ...
  • jan89jan89 Posts: 1
    HI! Can't decide between an Elantra or a Daewoo Wagon. I like the ELantra for the options and price, but is it really that reliable? Any one out there who carts around kids and backpacks and dogs...can you move in the Elantra? I am looking to purchase soon. Any advice greatly appreciated.
    I need an inexpensive car that is very reliable.
    Had my last car (Mazda 323) for 11 years...not without problems these last years though. Looking for something similar, but can't afford over $15,000. thanks!
  • backybacky Twin CitiesPosts: 18,748
    Hmm, a reliable car for dogs and backpacks and other stuff under $15K? Personally I wouldn't go with either the Daewoo or Elantra--the Daewoo because of their uncertain future (at least in the U.S.), and the Elantra because it's a 4dr sedan. Now if you can wait a couple of months for the 5dr Elantra hatchback, then you might have a winner. It should fall under $15K. Other options to consider are:

    * Saturn wagon (reliable, roomy, under $15K, doesn't rust, really nice dealers--not much else to say for it)
    * VW Golf 2dr (would squeeze under $15K if you watch the options)
    * 2000 Civic DX Hatchback (maybe you can find a new one leftover, or one with low miles)
    * 2000 Elantra wagon (not as nice as the '01 Elantra, but more room and can probably get one under $10K with low miles--you might even find a new one left over)
    * 2001 Suzuki Esteem wagon (reliable, under $15K, did I say reliable?)
    * 2000 Subaru Impreza wagon (you might be able to find a used one under $15K; I've seen new 2001 sedans advertised under $16K recently)
  • I own the Elantra wagon. I bought it new in 1997 and it is a wonderful car. I have not had any problems with it and it has 53,000 miles on it now. I drive it every day and have gone everywhere with it. It is Excellent in the snow and it's economical and relaible.
    DO NOT LISTEN to anyone who tells you that Hyundai Elantra is no good. It IS a good quality car. Hyundai has been making Excellent quality cars now for the past 10 years. They have excellent warranties and service. They do not have the problems which they had with their cars in the 1980's. They have very High quality cars now and are into the Luxury car market.
    You will not be making a mistake if you buy the Elantra or Elantra wagon. It is definitely a good car.
  • If you want something other then a sedan:

    1997+ Honda CRV (own a 2000 and Love it)
    2001 Jeep Cherokee 4door (over 15K but have seen extremely cheap lease)
    1999+ Chevy Tracker

    Sedan Wise:
    98+ Honda Accord (bullet proof car)
    97+ Toyota Camry
    1999+ Hyundai Sonata (you can get a New 4cyl for a tad over 15K) If you are in the Ohio area I saw a 1999 Sonata with 40K GLS V6 for $11,900 and a 2000 Package 13 FULLY LOADED, Leather and roof for 15,900K. You would get more for your money with a year or 2 old sonata then a new elantra. In my opinion the sonata is the better value (especially with children and a dog)

    DO NOT BUY A DAEWOO because of their uncertain future (at least in the U.S.),

    Jack

    JEgan98@aol.com

    ANY QUESTIONS FEEL FREE TO E-MAIL ME.
  • To the people considering an Elantra, wanted to say that I just bought my 3rd Elantra. Have a 2000 sedan w/auto (Daughter #1), 2000 wagon w/auto (mine), and as of today a 2001 sedan w/auto for Daughter #2. Had 2 defects on my wagon, warped brake rotors and transmission seal leak. Rotors and seal replaced on 7500 mile service, no hassle. No other problems either car, just total satisfaction with the VALUE received.

    Drove the 2001 home and loved it! They made a good car quieter, smoother, handle better, added armrests and interior tweaking, fixed the rather ugly tail end, and it seems to shift smoother. Out the door cost with 3% tax/title/fees for package 2 and mud guards, floor mats, and extended bumper to bumper warranty ($659 as I am repeat buyer) was $14,200. People may not realize that for $50 you can transfer that 10/100K warranty to a new owner if you decide to sell privately. The basic warranty stops at 5/60K if you sell. Also, I save about $68 a year in AAA fees for the duration. The Elantra is absolutely the best value going. If Hyundai made a pickup, I'd have bought one of those for my son, who loves his Toyota's reliability but dislikes the lousy comfort (it is killing his back) and cheap interior. My only dislike with the 2001 was the ribbed seat back. If I can talk my daughter into letting me drive it once in a while, perhaps I will get used to it.

    By the way, I'm not independently wealthy. The kids are making a large chunk of the car payments, but this way they get a safe, reliable car with no unplanned upkeep costs. I had spent $2500 trying to keep Daughter #2's '95 Neon running over the past 2 years and just said the heck with it.

    To the lady who hated the seat fabric pattern: spend $60 on seat covers in any color you want.
  • I tested my 2001 Elantra 5 spd late this evening (so I don't get any tickets) and here are the numbers I got:

    Kilometer Per Hour (Kph)
    100 Kph (2500 rpm) 62 mph
    110 " (2700 rpm) 68 mph
    120 " (3000 rpm) 74.5 (75) mph
    130 " (3200 rpm) 81 mph
    140 " (3500 rpm) 87 mph

    I really like the way the car rides...
    The only thing I don't like are the tires...Khumo...they sound like snow tires yet they suck in the snow...I hope you have better tires as OE on your cars than we do here in Canada.
  • bri70bri70 Posts: 147
    After a largely very praiseworthy review, Jedlica ends it with: "As is the case with most South Korean cars, the Elantra has the refinement that leading Japanese economy cars possessed a few years ago. It's just that Japan keeps raising the bar."

    Rarely do I see a review that does not knock Hyundai in the same manner. I rarely see competing Japanese makes compared to each other in the refinement category. I'm looking at maybe getting the hatchback when it comes out. Besides the engine growl, where else does Hyundai lag in refinement?

    Thanx
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