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Hyundai Sonata Lease Questions

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  • backybacky Twin CitiesPosts: 18,718
    I am interested in that info also. I saw yesterday an ad for a local dealer offering 2013 GLSes with Preferred Package for $169/month for 36 months with $1000 down, plus TT&L and first payment up front (tax = 6.25% on the payments, we pay tax in advance in Minnesota). That seemed like a good deal to me, maybe even worth checking it out even though our 2007 Sonata is still going strong (but no longer under warranty).
  • Where did you see that deal? Can you provide a link? Did you call/email and get any details on it? That seems like a pretty good deal, I'd like to get more info on it myself.
  • backybacky Twin CitiesPosts: 18,718
    Walser Hyundai in Brooklyn Park, MN. I don't think we're allowed to post links to dealerships, but it's easy to track down on the Web. The deal was supposed to be good through Nov. 30, but only for in-stock cars so they could run out before that.
  • Hey all,

    I put out a number of offers to dealers in the surrounding area and am just waiting on the responses from them. Will post the details on anything that proves worthwhile. In the meantime, from my research it appears that the acquisition fee is set by the finance company and not negotiable, but some things I read claimed it was. I thought perhaps it would be something similar to dealer doc fees where even if the dealer refuses to take them away you could often successfully demand they then be subtracted from the sale price with firm negotiation like many have suggested, though I'm not hopeful. Anybody have any input or insight about this?
  • backybacky Twin CitiesPosts: 18,718
    Got this price on a rather odd lease deal on a 2013 Sonata GLS Package 2--does it seem like a good deal?

    My total cost will be $47 a month, 36 months, 12,000 miles a year (we drive less than 10,000 a year). Nothing out of pocket. In addition, I'll get two $250 gift cards ($500 total), never expire, good on goods and services at the dealership chain, e.g. parts, tires, maintenance. I own a 2004 Elantra GT so if I don't use the credits for the Sonata, will likely be able to use them on the GT.

    I will turn in my 2007 Sonata GLS. 62k miles, very good shape mechanically (radio and CD player don't always work great), interior is fine but needs a thorough detail. But the exterior is a mess... major scrape with body panel damage on left rear (recent hit-and-run in a parking lot), additional damage to rear bumper (rear-ended a year ago, got paid by insurance but never fixed it), many dings and deep scratches, scraped front bumper, two beat-up wheel covers. I would not be surprised if it were $2000++ in repair costs if I were to repair the car (and eventually I'd have to, to prevent rust and before I sell it).

    So factoring in the gift cards I figure a bit over $1 a day. And my wife has a new car with more features e.g. heated seats, better fuel economy, more power, Bluetooth, new tires, save $50 a year on AAA membership fees, and nothing but routine maintenance for 3 years (5 years if I keep it after the lease). Oh, residual is $14,100... if that's too high at lease end I can always turn in the keys.

    I need to decide by Friday morning... not that the deal will go away, but the cars probably will with the $500 in gift cards, which expires this weekend.
  • Hi drinkjuice. Hyundai Finance's November buy rate lease money factor and residual value for a 36-month lease of a 2013 Sonata SE with 12,000 miles per year are .00100 and 61% for consumers who qualify for its top credit tier.

    The numbers for the Turbo version of this car are .00133 and 63%.

    When negotiating your deal on these cars, make sure to take advantage of the $1,500 cash incentive that is currently available on leases of them.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hey sirjared. Hyundai Finance's November buy rate lease money factor and residual value for a 36-month lease of a 2013 Sonata GLS with 12,000 miles per year are .00123 and 62% for consumers who qualify for its top credit tier.

    The residual value for a lease of this car with 10,000 miles per year would be 1% higher.

    I don't think that PZEV makes any difference with the lease program.

    There is a $1,500 cash incentive on leases of this car.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi golfmaven. Hyundai Finance's November buy rate lease money factor and residual value for a 36-month lease of a 2013 Sonata Limited with 12,000 miles per year are .00136 and 58% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a '13 Sonata Limited 2.0T are .00142 and 59%.

    There's a $1,500 cash incentive on leases of these cars right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • sky21sky21 Posts: 1
    Just negotiated this lease at a dealership in SC .

    MSRP - $ 28,355

    Sign and drive - $341.00

    Term - 36 mos.

    18 k a year mileage

    Any thoughts on how good a deal this was.
  • ruthg3ruthg3 Posts: 20
    I leased a Sonata Limited basic (just floor mats, cargo mat, mud guards as options) in November and I wonder whether I got a good deal. It was for 36 months, 12k miles. If I could do better I'd like to know because my mom wants me to help her lease the same car in December.

    MSRP $26,901
    Cap Cost $22,200
    Sign & Drive - $290/mo (included 1st mo, 7% tax & all fees)
    I've seen some in this forum mention a Limited for $21,250 but the cheapest Trucar I saw in NJ was $23,312 and I worked from there.

    Also, Car Man could you please tell me the residual, money factor and if there are incentives for the same basic 2013 Sonata Limited 36 months, 12,000 miles.

    Thank you! This forum has been very helpful and informative!
  • REF: 1142
    I get 25845 for a Limited with your stated options. How did it become 26901? Seems too high. Also, i assume the cap cost includes the 595 acq fee from HMF. Any other fees stipulated?
  • Did I get a good deal?

    I leased a 2013 Sonata Turbo Limited (no nav) for $308.01 a month for 36 months, 12k . $0 down, and paid $614 for new plates and first month fee.

    $595 bank fee and taxes are rolled into payments

    Sticker price on car was $28,810.00 (mats, mud guards, cargo net, rear bumper protector, and wheel locks)

    Gross capitalized cost = $27,133.64
    Capitalized cost reduction = $1,500
    Adjusted capitalized cost = $25,633.64
    Residual value = $16,709.80
    Depreciation = $8,923.84
    Rent Charge = $2,164.52
    Total of base payments = $11,088.36
    Lease payments = 36
    Base payment = $308.01

    (itemization of gross cap cost)
    Agreed value of vehicle = $25,462.88
    Taxes= $1,075.76
    Acquisition fee = $595

  • ruthg3ruthg3 Posts: 20
    Thank you for replying to my post.

    The invoice price was 25845, MSRP was 26901. The cap cost did not include the 595 acq fee, the monthly amount from the cap cost was $235.50, added $15.50 for tax and $31/ mo for all fees (acq fee, mv fee, tire, etc) for a total of $282 but took it as $290 sign & drive instead.
  • REF: 1145
    I am confused. So your total lease cost is 35 payments of 290 and that's all? I assume "Sign and drive" means you put down zero money before taking delivery. Also, how did your MSRP go from 25845 to 26901? What did they add? What is a tire fee? State specific?
    I am looking to lease before Jan 2...thx
  • ruthg3ruthg3 Posts: 20
    Sorry for confusion...I'll try to be clearer now.

    Sonata Limited 2013 with floor mats, cargo mat & mudguards

    MSRP $26,901
    Invoice $25845
    Cap Cost $22,200 (based on some posts I've seen could maybe do better closer to $21,500k)
    NJ tax of 7% $558
    All fees (MV, doc, bank fee) $1113

    Payment would have come to $282 per month for 36 months but we did $290 with zero money down for 35 months.

    This included a $500 loyalty coupon, $1500 Hyundai lease incentive.

    My mom wants to lease a Sonata also so I already spoke to the dealership that I may help her lease this month. Frankly believe I can do even better although felt this was a solid deal. If I do get the cap cost down I will post & let you know.

    This was Flemington Hyundai, Flemington NJ. I started with Trucar price, spoke with internet manager and worked down from there.

    Hope this helps.
  • I have 4 months left in my 36 month lease on a 2011 Sonata GLS. I was trying to get out of the lease early and lease a different brand of car. Hyundai Finance basically told me the only way to do it without penalty is to sell/trade the car for the payoff amount. This won't work because the payoff is $15K and the best trade-in price I've received is $11.5K from a dealer. A Volvo dealer wanted to cut me a check for the 4 remaining payments plus the $400 disposition fee, but Hyundai Finance says no. They say it will still be considered an early lease termination if I turn the car in more than 30 days early, regardless of the fact that I am paying them the money I would have paid them anyways, plus they get the car a few months early with less mileage on it. They will charge me a $400 early termination fee, any fees associated with auctioning the car off, and the difference between the payoff and the auction price. So technically, I could owe them a few thousand dollars. This seems wrong. I called them twice and talked to two different reps to make sure they weren't smoking crack and was told the same thing by both ladies. The salesman at the Volvo dealer also called them because he said he has never heard such BS in his 20 years in the business, and they told him the same thing.

    Anyone else find it strange that Hyundai won't accept the money I will be paying them anyways, especially since they would be getting a car back that is worth more than it will be at lease end?
  • kyfdxkyfdx Posts: 28,675
    Anyone else find it strange that Hyundai won't accept the money I will be paying them anyways, especially since they would be getting a car back that is worth more than it will be at lease end?


    You sort of answered your own question... The payoff is $15K and your car is worth $11.5K.. They are hoping you'll get rid of the car, otherwise, and they'll get their whole $15K.. and, if not, it's possible they have insured that residual, and can only collect if the lease term is completed..

    And.. let's be clear... the bank owns the car... not Hyundai.. (even if they are named Hyundai Finance). They would much rather have the money, than have the car...

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • I have done it 2 times and never had a problem. Ask for a supervisor. That's crazy.
  • Try another dealer. I believe Hyundai has a buy back program that buys back all the cars with 6 months or less left. That's what I was told by the Paramus Hyundai
  • I don't think it is up to the dealers, it is up to Hyundai Finance (the bank). I'm guessing the primary reason they won't do it is because they would end up eating it on the car since it is worth way less than the payoff right now.
  • Finally I took the deal (18630) which I was offered in Chicago to my Madison dealer (Zimbrick), he matched the price ($18605 +135 doc fee (after 1500 +500 rebates)) . I am bad negotiator hence I said yes. At the last minute rather than buying I leased the car.

    Here are the details :
    Lease for 36 months / 208 +10 (tax)=218$/month
    200 $ down-payment for the first month.
    Residual =61%
    Price to buy after the lease –14,142

    GLS + Popular Equipment Package (Ruby color – my wife wanted it)
    Carpeted Floor Mats
    Cargo Mat
    Cargo net
    Remote Start
    Rear Bumper Protector
    Wheel Locks

    I will get the car tomorrow (as the car he has didn’t have remote start), as they need to get the vehicle.

    Thank you everyone, this forum is really helpful. First I leased my Sienna and now Sonata.

    Thanks
    San
  • Just leased a 2013 sonata gls with popular package and following options: Mud guards, Dargo mat, floor carpets, all weather floor mats, spoiler and wheel locks.
    12K miles/36 months
    $0 down- just paid taxes and fees upfront
    $199 per month

    any comments on if I got a decent deal?
  • pegasus17pegasus17 Posts: 536
    REF: 1154
    For a true assessment of your deal, need the following:
    msrp, sales price, residual %, money factor. Plus, what did you pay for taxes and fees? Was the acq fee paid upfront or rolled into the lease? Did you pay an optional doc fee? All these things matter...
  • 2013 Sonata Limited - 36 Months/12K Year.

    THANKS CARMAN!
  • Here's the information that you're looking for, klockboy. Hyundai Finance's January buy rate lease money factor and residual value for a 36-month lease of a 2013 Sonata Limited with 12,000 miles per year are .00126 and 55% for consumers who qualify for its top credit tier.

    When negotiating your deal, make sure to take advantage of the $1,500 cash incentive that is currently available on leases of this car.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Thank You! Best, Klockboy
  • Im in the finalization of a lease. Sewerrat was your lease for 12k or 15k miles. I'm trying to get close to what you got your deal down to
  • So I just leased this car on Thursday. 2013 2.4 SE sunroof and Nav. Traded in my 09 Altima with negative equity of about $1,250. 48 mo lease 15k miles $309/month oil changes and tire rotations included in payment. Put $500 down to cover 1st month, licence and doc fees. Felt like a decent deal but not 100% sure. Thoughts?
  • pegasus17pegasus17 Posts: 536
    REF: 1161
    Need the following to evaluate your deal:
    msrp, sell price, residual %, money factor, tax rate, doc fee amount...
This discussion has been closed.