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Hyundai Santa Fe Lease Questions

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  • sorry for the late reply. been out enjoying my new SF 2.0T. Go to hardin hyundai in Anahiem. Several of the dealerships around here were willing to match the deal ... only hardin was willing to add the tow hitch. good luck.
  • Hi 1stbeemer1. The numbers for the FWD are different than the numbers for the AWD model. I believe that the residual values are the same for both but the money factors are .00148 for the FWD and .00157 for the AWD.

    Car_man
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  • Thanks sunshine1949. Two Santa Fes huh? You must really like them :).

    Hyundai Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2013 Santa Fe 2.0T FWD with 12,000 miles per year are .00148 and 64% for consumers who qualify for its top credit tier.

    There's a $500 cash incentive on leases of this vehicle right now.

    Car_man
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  • Hopefully someone can get back to me within 24 hours on this as I am planning on getting this Wednesday or Thursday. I think I got a fantastic deal but worth checking with you guys to see your input.

    It's a 36 month lease/12,000 annual miles.

    2013 Santa Fe 2.4L FWD, Black w/ Dark Gray Leather interior.
    Popular Equipment Package and Premium & Leather Package.($3,000 value)
    Free Oil Changes for life of Lease(and an additional 2 years after lease if I decide to buy)

    The lease on Hyundai's website is for $269/mo and its just the base model and that's with $3,000 down and doesn't include taxes, fees, etc.

    Here is the price I got per month and this INCLUDES all fees, taxes, etc.

    $308/mo. This includes $3,000 down($2,600 trade in + $400 cash)

    So what do you guys think?
  • Hi gators4. It's difficult for me to comment on this deal without knowing what this vehicle's MSRP and selling price because I don't know what the payment should be like off of the top of my head. If you tell me what these numbers are I'd be happy to tell you what I think.

    One thing I can tell you is that you would be better off having the dealer cut you a check for any equity that you have in your trade rather than using the proceeds from it as a down payment for your lease. I always advice consumers to put as little money down as possible when leasing because if your vehicle is totaled in an accident or stolen and never recovered then your down payment might just disappear.

    Car_man
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  • MSRP with all that on it is $29,500
    Purchase price would be $27,700

    I will have to look into the no down payment thing. I actually think I would get about $1,000 more out of the car that I'm trading it in if I sold it myself.

    After seeing the Purchase price what do you think about the $308/mo?

    Also, they told me now that I could jst put $2,600 down and then make my first monthly payment of $308. Before it was $3,000 down plus initial monthly payment.
  • Thanks for the additional information gators4. Let's take a look at the selling price that you were quoted. This vehicle has a spread of around $1,300 or so between its MSRP and dealer invoice price. Add to that the $500 cash incentive that is available on leases of it right now and you have around $1,800 or so to play with in your negotiations. Interestingly, that's the exact discount that you are being given, so I'd say that this is a very good selling price.

    Just make sure that the dealer is using Hyundai Finance's buy rate lease money factor of .00148 9top credit tier) to calculate your lease payment and you're in business.

    Ok yeah, and pay as little money at lease signing as possible.

    Car_man
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  • Car_man, do you have any updated info on the residual and MF for a 2013 Santa Fe Sport AWD with 12k miles?

    Any ideas if the $500 cash incentive still applies for leases?
  • Hi psu1226. Hyundai Finance's January buy rate lease money factor and residual value for a 36-month lease of a 2013 Santa Fe Sport AWD with 12,000 miles per year are .00119 and 60% for consumers who qualify for its top credit tier.

    Yes there is still a $500 cash incentive on leases of this vehicle.

    Car_man
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  • Thanks Car_man. I forgot to ask, what is the residual value for 15000 miles and whether there's a difference in the residual if you go for FWD.
  • You're welcome psu1226. Hyundai Finance's January buy rate lease money factor and residual value for a 36-month lease of a 2013 Santa Fe Sport AWD with 15,000 miles per year are .00095 and 56% for consumers who qualify for its top credit tier.

    Car_man
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  • Mr. Car Man,

    I am trying to determine the right lease payment for a 2013 Hyundai Sante Fe 2.0T with AWD (MSRP 32745, negotiated price 31745).

    I would like to lease with minimum miles (12k) over 36 month term.

    How do I make sure that the dealer calculates any down payment and lease appropriately? I understand what capitalized cost, money factor, and residual value are, but I'm not sure how to put everything together, especially in light of acquisition fees, taxes, and so on.

    Any guidance would be appreciated.
  • Hi agrewal. I can work up a sample lease payment on this truck for you to give you an idea of what to expect. Hyundai Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2013 Santa Fe 2.0T AWD with 12,000 miles per year are .00114 and 59% for consumers who qualify for its top credit tier.

    Using these numbers, an MSRP of $32,745 and a selling price of $31,745 (though given the $500 lease cash that's available on this model, this isn't enough of a discount for my taste), I estimate that this truck's zero down, pre-tax monthly payment would be around $404.

    If I was in the market for this model, I personally would shoot for at least another $500 off. That would lower the pre-tax payment to around $389.

    Car_man
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  • Hello Car_Man,

    Can you provide some data on the (new) Santa Fe, non-sport: GLS and Limited AWD. Looking for the basics: MF, residual for 36 months and 12K miles. Also curious what, if any, incentives are out there for this truck (I can't seem to find any information).

    Thanks!
  • Hi drdrakeramore. I haven't seen a lease program for the non-Sport Santa Fe. Is it even out? I don't think that it's available yet.

    Car_man
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  • Thanks, I found that out after I posted...my wife was taken with the ads during Super Bowl and I thought I'd get a jump on things. A bit of recognizance (with area dealers) told me that they don't even know when they'll be taking delivery...some delays in the pipeline, apparently. Unfortunate, as there seems to be a lot of interest right now. Thanks again!
  • You're very welcome drdrakeramore.

    Car_man
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  • Hi Car_man

    Thanks for you earlier replies. I have a couple of follow-up questions that I hope you can help me out with:

    1. As the year goes by, I assume that residual of the cars will be lower as we get close to the model year end. Do manufacturers counter the residual drop with lower MF to keep the payments on leases similar, or are you better of leasing early on? I'm hoping to lease by the end of the month, but I wanted to know what to expect if I decided to wait out to check the LWB version of the Santa Fe.

    2. Earlier this month you posted the following info on residual and MF: "2013 Santa Fe 2.0T AWD with 12,000 miles per year are .00114 and 59% for consumers who qualify for its top credit tier". I originally was going to go with AWD, but realized that I probably don't REALLY need it for my area. Can you let me know what the residual and MF is for for the 2.0T FWD with 12k and 15k miles.

    3. Do you know what are HMF current acquisition and disposition fees? Want to make sure I've got all of the fees covered :)

    4. I don't see a $500 lease cash bonus on hyundaiusa site. Is this promotion still on?

    Thanks again for all your help.
  • Thank you for all of the helpful information. Can you please give me your thoughts on the following offer?

    2013 SF 2.0T Sport, Tech Pack/Premium Pack
    MSRP $34,310 (do not know the selling price yet)
    $1500 due at signing (includes first month)
    $379/mo (tax-in).

    I can probably get the dealer down to $369/mo., but want to use a slow February/end of month leverage to see if I can get away with $1000 down, $369.00 month.

    Thanks,
  • Update:

    I was interested in leasing the 2013 Sante Fe 2.0T FWD w/ Tech package, but I couldn't find a color combination that I liked in my area. My dealer pointed me to a AWD model which had my top color choice combination (Mineral Gray / Black interior), so I decided to take that and pay up for the AWD. Here are the details of the lease:

    Vehicle: 2013 Sante Fe Sport 2.0T AWD with Tech Package
    Miles: 12k/year
    MSRP: $35,900
    Invoice: $34,067
    Purchase Price: $32,765.35 (Hyundai Circle Plan A through Hyundai Think Tank)
    Discounts:$750 Loyalty, $500 Lease Cash, $500 Motozuma matching
    Down payment:$500 (Needed it to get the Motozuma deal)
    Residual: 59% or $21,181 (Couldn't confirm with car_man)
    Money Factor: .00114 (Couldn't confirm with car_man)
    Dealer Fee: $200 (Maryland)
    Acquisition Fee: $595
    Taxes in VA = 3% (They tax leases on full price :( )
    Monthly $370.16 includes tax

    At signing: $370.16 + $500 Down + $118.5 Title and Tags (VA) = $988.66

    Car_man had posted that residual and money factor early Feb, so assuming they were correct, the numbers checked out. First time leasing, so I hope I didn't make a mistake somewhere.
  • Hey car_man,

    Can you help me out? I'm looking to lease a 2013 Santa Fe sport 2.0T awd
    With the tech and leather package.

    Terms 36 month/15,000 miles a yr
    Msrp $35,645
    Invoice $33,965
    Purchase price $32,665
    Money down would be $500 plus first month payment
    Ny state taxes 8.875

    Can you give me an idea of what I should expect to be paying a month on a lease with these terms and taxes rolled in to the payments. Thank you!
  • Hi Car_man, everyone

    Here's the deal I was offered:
    2013 Santa Fe Sport 2.0T AWD Leather and Premium Package
    Mud guards
    Wheel locks
    Carpeted cargo mat
    Cargo cover screen

    MSRP 33255
    Term = 36mo
    Miles = 12,000/yr
    Sales price = 29,500 (includes 500 lease rebate)
    MF = .00114
    Residual = 59% (19620.45)
    Down payment = 1000
    DMV - 277.50
    Doc fee = 75
    Acq Fee = 595
    Long Island tax = 8.625%

    Monthly payment 377.19

    I feel like there's something wrong w/ the math I'm being given. Can you please advise
    Thanks!
    Eugene
  • Hi Car_man,
    I am looking to lease a 2013 Santa Fe 2.0T, AWD with Leather and Tech package with no money down (except standard lease closing costs) in CT. Our state sales tax rate is 6.35%.
    MSRP= $34,800
    Destination. 845
    Total. $35,645
    12,000 miles/year
    CT sales tax 6.35%
    36 months
    $0 down payment (except for out of pocket fees - registration, lease acquisition, etc)

    Looking to close before March 30.

    Thanks,
    Ken
  • maphotomaphoto Posts: 1
    I am looking to purchase a 2013 Santa Fe 2.0T FWD with Leather package. MSRP is $28245, will be purchasing for $26,500. $0 down, looking for a 36 month lease @ 12k per year. CA sales tax is 9%
  • eturbo4eturbo4 Posts: 2
    CAR_MAN, king of all moderators (I mean it sincerely), I'm kicking around for any lease info on the Limited but there are so few in stock (Georgia's biggest Hyundai dealer has ... three of them, each already reserved) I don't know if there even a formal program just for GLS/Limiteds or if the $500 of lease case on the other trims applies. Anyone else who has tried to lease one of these things I'd really appreciate a capital cost number - I suspect demand/no inventory means these things are moving at very close to sticker (above sticker? For a Hyundai? Could it be?) until more inventory hits the lots... Thank you!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi is_status. Let's work up a payment on this vehicle for you and see what we come up with. According to my calculations, if you were to lease a 2013 Santa Fe Sport 2.0T AWD that has an MSRP of $35,645 and a selling price of $32,665 through Hyundai Finance right now for 36-months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $404.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Ken. This vehicle's lease payment will depend upon what sort of selling price you negotiate. If you provide me with that figure, or at least its dealer invoice price, I would be happy to work up a payment on it for you. You can find the dealer invoice price for this truck over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks eturbo4 :blush: .

    I believe that the $500 cash incentive is available on leases of all 3012 Santa Fe models. You're right, given the fact that the Santa Fe is brand new you may not be able to find any great deals on it for a couple of months. Don't worry though, they will eventually come. The halo effect of a new model doesn't last very long in the super competitive U.S. auto market.

    Car_man
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  • eturbo4eturbo4 Posts: 2
    So you've not seen specific residuals or MFs for GLS or Limited? Dealer came back to me with this set, which, based on what you've posted on top-tier credit for other Santa Fe trims, seem a bit modest:

    They said:
    Term: 36 months
    Miles: 36,000 miles
    Money Factor: .00130
    Residual: 57%
    Lease cash available: $500

    Other Santa Fes seem too have higher residuals and lower MFs... thanks if you know anything.
  • Thanks Car Man,
    The invoice is for this car is $33,662 and the Edmunds true market value is $33,129.
This discussion has been closed.