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Hyundai Sonata Lease Questions

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  • You're very welcome klockboy.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • bad1550bad1550 Posts: 27
    Picked up a new 2013 GLS yesterday. I traded in 2012 Camaro with $6,000 negative equity. New lease is 48 months with $2,200 down to cover taxes dmv first month payment at $289 per month.

    Is this a good deal?
  • Does the 10 year 100k warranty transfer to a person if they buy out the car at the end of the lease or do you lose it because you didn't own the car while leasing and are buying it after? Also does Hyundai have a set price for fees (not the car price) when buying out the car at the end of the lease as long there are no other cost involved like excess mileage, damage, ect.
  • pegasus17pegasus17 Posts: 536
    disposition fee = $400 and should be noted on your lease documents
  • backybacky Twin CitiesPosts: 18,710
    The 10 year/100k powertrain warranty transfers to the buyer if you leased the car and buy it out at the end of the lease. I specifically asked my Hyundai dealer that question when I leased a 2013 Sonata in November.

    Your lease agreement will specify any fees that apply if you buy the car at the end of the lease, or turn it in. In my experience, these fees are negotiable at the end of the lease--especially if you buy the car... or buy or lease another Hyundai when turning in the leased car.
  • Thank you both that answers my questions.
  • I am looking at 2 models of the sonata the 2013:
    - GLS + Premium pkg w Bluetooth, heated seats, aluminum wheels, etc... and
    - SE

    for the GLS + premium I have a delaer offer of $206/month for 36 months with 12K per year - $1050 in taxes up frint and zero down.

    for the SE: $219 with $1206 in taxes and delivery fees. Zero cao cost reduction fees.

    How does this compare ?

    Allen
  • backybacky Twin CitiesPosts: 18,710
    edited January 2013
    That seems like a pretty easy question to answer: is the SE worth at least $624 more to you than the GLS? If so, get the SE. If not, get the GLS.

    IMO the price on the GLS is pretty good, but not exceptional... works out to $235/month. You might counteroffer with something like $220 with 0 out of pocket, see what they say. The worst that can happen is they say "no". ;)

    Also if you haven't compared price at any other dealership yet, you might do that, tell them what the offer is and see if they'll beat it--assuming you have other dealers in your area.
  • I asked a dealer why I couldn't use invoice pricing with Hyundais lease rates and make a cheaper payment than Hyundais advertised lease price based on msrp...they replyed...even tho its msrp it comes out cheaper than if you just wanted to lease a car based on invoice...huh...is it better to use their advertised lease price based on msrp then instead of trying to get a lease based on the same rate and price you work out with the dealer? Thanks
  • pegasus17pegasus17 Posts: 536
    REF: 1171
    You need to find a new dealer. They are full of it. Most advertised lease deals are not the best available. they don't disclose all the info you need to figure out how much the dealer is selling the car for.

    If you want help, post the msrp, sell price, term, money factor and residual %. You can calculate the lease using a tool or we can help you.

    Leasing is like a shell game. the dealer has more cards than us...
  • Thanks for the reply but I'm just looking into a lease now. I want all the details so when I have to get a new car I'm ready. Once my suv starts costing more than its worth I'll get a new car and with a lease I can get a better car for the payment and always be under factory warranty and with Hyundai I have the option to buy the car at the end of the lease and still have a great warranty while paying it off.
  • I have been looking at a 2013 sonata that a person has for sale that he currently leases. The individual has only leased the car for 7 months of a 36 month lease. He has told me that he would have to pay off his lease obligation with the sales proceeds as well as pay the pre agreed price of the car at lease end. He would have to pay approx $3-4 thousand more than I would be willing to pay him for the car. How does a person proceed on processing this transaction to make sure its a clean clear title transaction?
  • We are looking to lease a fully loaded 2012 Sonata Hybrid with Navigation, Moonroof, leather etc. The MSRP is $32,370. Dealership in Southern California proposes a 36 month lease 12k miles per year at $337 per month including 9% sales tax. Total drive off and out of pocket is $500. Is this a reasonable deal, a good deal or a dynamite deal? Do not know what selling price is or money factor.
  • My dealer just called and wanted to know if we would be interested in trading in our 2012 Sonata that we leased from him (have about 18mos left on that lease which is $249/mo) for a 2013 Sonata at the same lease price of $249/mo. Is that something we should consider? Pros and cons? thanks so much!
  • ruthg3ruthg3 Posts: 20
    How did you pay your fees when you originally leased? If they are not included in the $249 you should be clear on whether you'd have to pay again. Also, I would compare the features of the two cars, for example 2012 had the panoramic sunroof, 2013 doesn't without a special package. Other than the year is there anything he's offering in the 2013 that isn't in the 2012?

    I was called once that they could get me out of my 2011 GLS for a new one for the same money. Turns out they just wanted to upsell me and with the new fees...was no benefit to me.

    Good luck!
  • Greetings,

    I am considering leasing a new 2013 Sonata GLS. I have a local dealer (Kirkland, WA) who is aggressive with advertising "deals" in the weekend paper. I have noticed that they start the weekly add on Thursday afternoons. This weekend they are advertising a 2013 Sonata GLS on a 36 mo / 12K lease for $77. Here is the breakdown of the pricing as described in the ad:

    (http://www.hyundaiofkirkland.com/)

    Sonata GLS

    MSRP $22,450.00
    HOK Discount $4,053.00
    Sale Price $18,397.00

    Lease Cash $1,500.00
    Valued Owner $500.00
    Competive $500.00
    Military $500.00
    College $400.00
    Total other discounts $3,400.00

    Discounted Sale Price $14,997.00

    Down $999.00
    Lease (3*12k) $77.28

    I would need to put $999 down plus taxes, license, etc.

    It appears to me that the have assigned a 36 month residual value on the car around .70 - .75.

    Does my residual calculation appear to be correct, and isn't this a bit high?

    Thanks for any comments,

    -CR
  • 1. You CANNOT possibly qualify for ALL those discounts
    2. Never, ever, put down more than $500 on ANY lease; if you don't understand why, you need to research a LOT more...knowledge is power
  • backybacky Twin CitiesPosts: 18,710
    Even if there's only $2,000 in rebates (i.e. Lease Cash, plus either the loyalty or competitive rebate), this could still work out well because of the dealer's $4k discount before the manufacturer rebates.

    One way to cut through all the crap is ask the dealer, "How much per month for 36 months, 12k miles/year, with NOTHING out of pocket?", including just the discounts/rebates you qualify for. That means, you don't pay anything up front except maybe the first month's payment. Also find out what the residual is then. If they come back with something around $200 a month (less is good too!) and the residual is reasonable (which might not matter if you could just walk away after 3 years), I'd call that a good deal on that car, especially if it has the Preferred Package.
  • sueq2sueq2 Posts: 4
    Dealer offered this lease: $300.00 per month (taxes included) He gave me these numbers: MSRP $26,980, residual 55%, money factor .00126 It would cost me about $250 in fees (transfer, tax, etc.) with no money down.
    The car does not have the nav or panoramic sunroof. Is this a good deal?
  • pegasus17pegasus17 Posts: 536
    edited February 2013
    what is the sell price of the car? Also term, 36 months? Tax rate? Do you have any discounts like loyalty, military? There is $500 conquest bonus available - did they ask you what you drive now? There is also $1500 lease bonus cash now. At first glance that price is too high. Provide more detail and i can help you out...
    BTW, there is no etc. in leasing!
  • sueq2sueq2 Posts: 4
    The sell price is $25,319.00. The lease term is 36 months. The tax rate is 6%, but the $300.00 includes tax. No discounts. They did ask what I drive. I am ending a lease with a Honda Accord, but no one mentioned a conquest bonus. I am not aware of any $1500.00 lease bonus. What else do you need to know. I cannot thank you enough for your help!
  • I get 319 per month including the 6% tax rate using the simple calculator at leaseguide dot com. i included $2000 lease bonus cash (1500 + 500). Look here:

    http://www.edmunds.com/hyundai/sonata/2013/car-incentives.html?style=200417707&i- rr_section=customer_rebates_irr

    So, we are off by quite a bit in your favor which makes me leery...

    http://www.leaseguide.com/calc.htm

    Would you be trading in your Accord to them?
  • sueq2sueq2 Posts: 4
    Thank you for the links. They were most helpful...and the numbers do look awfully good.
    I'm not trading in my Accord; I was leasing it. However, if you are asking whether I'll be turning it in at the Hyundai dealership, the answer is yes.
  • You can trade in a leased vehicle provided they pay it off for you. So, they are not using any positive equity you MIGHT have in your Accord? Curious, how do you turn in an Accord to a Hyundai dealership? Is it a family of car brands at one dealer?
    The reason i ask is that I have a Sonata lease and am looking at getting a new Accord lease. Every dealer has told me that I have some positive equity in my Sonata and that it makes sense to trade it in early to reap the reward of that small amount of equity and avoid paying the $400 disposition fee that Hyundai charges at lease end. (Honda does not).
    Still curious why the numbers don't work out to $300/month...
  • sueq2sueq2 Posts: 4
    My lease on the Honda is up on 2/27, so the last payment has already been made. I have decided to turn it in to the Honda dealership after the scheduled inspection. The car is in perfect condition and I don't want to take a chance that problems will be "discovered" after it's turned in.
    The Hyundai dealership deals only with Hyundai and Subaru, by the way. I'm going back tomorrow to tell them I will take possession of the car on the 26th and leave them a deposit to hold it.
    Thank you again for all of your help. It has been invaluable!
  • Very glad i could help. Good luck and enjoy your new car!
  • Hello,

    I'm really hoping someone could help me. Today I visited Hyundais dealership in MA.

    I'm looking to lease a Sonata GLS with the performance package (fog lights, heated seats etc). Details:

    Credit Score 680 invome $4500/month
    The MSRP was $23495
    Negative Equity of about $1800
    zero down
    looking for a 36/month lease of 15,000 miles

    What should I expect to pay a month with these factors?

    I want to keep my payment below $300/month.

    What money factor rate and residual should I expect.

    I really want to get the limited version MSRP of $29000, what would that be?

    It's been a long time since I've boughten car, as I've been rebuilding my credit and I'm lost. I got a number today and felt totally snowballed by the guy, so I left and researched more online and it appears he was way off.

    Honest advice needed.

    Thanks,
    AT
  • pegasus17pegasus17 Posts: 536
    edited February 2013
    homework:
    http://www.leaseguide.com/calc.htm

    http://www.leaseguide.com/faqs.htm

    You need the following bits of data before you can proceed:
    msrp,sell price,mf,residual %

    BTW, the neg. equity will put you over 300/month

    Ballpark estimate:
    msrp 23495, sell price 21695 (1800 below msrp)
    56% residual; 0.00126 mf; 595 acquisition fee
    assumed tax rate on lease 7% (depends on your state)
    monthly payment $261.45

    If i add the $1800 of negative equity to the cap cost,
    it becomes 317/month
  • I was in a dealer here in NY today. Here is the deal I got which they say is rock bottom - But i am not done yet. End of month is always a good time to haggle

    MSRP 23190

    Selling price 19450.73. This is with a the following (22,478 selling, - 1027.27 markup ( some incentive) - another cap reduction of 2000) Honestly not really clear on how they came to 19450.73 , but that is capital cost. My calculations give me the same payment as they quoted of $200

    MF - 0.00063
    residual - 56% (15K lease)
    36 months

    Gave me a payment of $200

    Cash down would be taxes of $531, Bank fee of $595 and first months payment of $200 and DMV. I can also roll into monthly which would be another roughly $$33/ month.

    I have a couple of questions.

    When i asked about the taxes. They just calculated the 36 payments by my county rate, which is normal, but I always thought I paid taxes on the cap cost reductions also. Is this blended into my $200 payment, or do I not pay it?

    second, I recently started my own business, am living off savings. I am not taking a salary to build the business. Will this come against me to get lease approval. I have excellent credit - not worried about that.

    Thanks guys
  • Using this:
    http://www.leaseguide.com/calc.htm

    1. I get 195/month using your numbers (pre-tax)
    2. The mf is quite low at 0.00063; it is a Hyundai lease right?
    3. you do pay tax on the $2000 incentives (somewhere)
    4. Never put down more than $500 out-the-door on any lease.
This discussion has been closed.