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Hyundai Sonata Lease Questions

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  • doogan3doogan3 Posts: 5
    edited February 2013
    Thanks - I thought I pay tax somewhere. Not sure if they bang this on me when I go back..

    do you have any insight on whether I will get approval without income - of can I just put it down that I do (Savings)?

    and yep - Asked them to verify the MF and they confirmed it was .00063.
    thanks
  • the mf might change based on your credit score/situation; don't know how they look at SE people...
  • pegasus17 -

    just to confirm at a credit score of 680 you feel the money factor should be .00126?

    I was really snowballed today then. Taking all the numbers I gave you in my previous post; they came back with $383/month for 48 months....

    Do you know the credit teirs and corresponding MF rates?

    I did read all the links and understand more but can't find through a google search what a realistic MF rate would be for my credit score.

    Want to close a deal (another dealership) on Tuesday.
  • REF: 1195
    1. First, click on rebates, incentives, prices. Then, look at how complicated the table to the right on the link is. Many combos of lease incentives and money factors (lease rates). You have to ask what the residual % and mf are for your situation.

    http://www.cars.com/go/search/detail.jsp?tab=specs&recnum=&actLog=&listingId=110- 735046&paId=503253946&listingRecNum=7&criteria=sf1Dir%3dDESC%26mkId%3d20064%26st- kTyp%3dN%26mdId%3d22146%26rd%3d30%26crSrtFlds%3dstkTypId-feedSegId-mkId-mdId-trI- d%26zc%3d45324%26rn%3d0%26PMmt%3d1-1-1%26stkTypId%3d28880%26sf2Dir%3dASC%26sf1Nm- %3dprice%26sf2Nm%3dlocation%26isDealerGrouping%3dfalse%26trId%3d23836%26rpp%3d50- %26feedSegId%3d28705&tracktype=newcc&pageNumber=&numResultsPerPage=&largeNumResu- ltsPerPage=0&sortorder=descending&sortfield=PRICE&certifiedOnly=false&&aff=natio- nal

    2. The GLS with the Popular equipment Package (PEP2) is about 22915. the one you quoted had extra crap that you don't need.

    3. Why do you need to get out of the neg. equity car? it would be better to wait...
  • jcolexx1jcolexx1 Posts: 1
    edited February 2013
    Ok first off I apologize for not having any other numbers. I will call the dealership today and try to get them.

    I am looking at a base model Sonata. MSRP was 22465. After valued customer coupon, autoshow rebates, graduation rebate and internet pricing the final cost came out to 17,510.

    I have a 2011 Sonata, 3 years old with 56000 miles on it. It has some minor paint dings but nothing major. I owe 10150 on it. They are willing to give me 10400 for it.

    The lease terms came out to 135/month which includes tax. They initially started at 164 a month. I would also have to put down 1500. So total for DP and 135 over 36 months is 6360.

    My reasoning for leasing is the following. After 36 more payments on my current car, with interest it comes out to 10900 dollars for the next 3 years and I own it. Now I would hope it lasts another 3 years after that to make the total life of the car 9 years, three of which have already been used. If I were to lease the new car and replicate the lease again for another 36 months it would come out to 12,700. So I would be paying 1800 more but I would have two new cars in the same time?

    Yes I am new to this so I dont have all of the terminology from the dealer currently available but I will try to get it later. I am just asking if the numbers look good or if I can push them more. Thank you in advance.

    EDIT: 12K a year miles. Base GLS model.
  • blueyfishblueyfish Posts: 26
    edited March 2013
    I want to lease a Sonata Limited with the package. What are the March Money Factors and Residuals? It is not a Turbo. Ready to move on this within a week. Thanks

    12000 miles per year
  • asca2asca2 Posts: 7
    edited March 2013
    Hi, I received an offer for a Hyundai Sonata Base Model lease for $263.00 a month /36 months, including tax, no money down, 15000 miles and additional warranty for any issues up to $5000 at the time of return of the car after lease is finished.

    Is this a good deal?
  • blueyfishblueyfish Posts: 26
    I neglected to mention that the term is 36 months.
  • th83th83 Posts: 164
    edited March 2013
    The March money factor and residual for a 2013 2.0T Limited are .00100 and 57% for a 36 month, 12k mile/year lease. Add 1% to the residual for 10k/year and subtract 2% for 15k/year, for those wondering.

    The money factor is a bit lower for 2.0T SE's at .00079, and the residual is higher by 2%. Between the Limited and SE models, the 2.0T SE seems to be the best bang for the buck for leasing.

    Got this info from HERE

    I did a google search and found it within seconds :)

    Let me know how you do. I'm actually considering the Sonata 2.0T (again) myself. I almost got one 2 years ago, but the dealers around here (Charlotte, NC) treated the 2.0T as if it was sacred and wouldn't budge on the price (MSRP). I laughed at them, walked out the door and got an Accord instead. I got the Accord (an EX) for $260 down $260 per month, way less than the $340/month the Hyundai dealer wanted for an SE 2.0T with no options. $340/month is what I'd pay for a loaded Limited 2.0T, not a bare-bones SE.
  • blueyfishblueyfish Posts: 26
    Thanks for your info however, T'm not looking for a Turbo. Just a loaded Limited 2.4 automatic for my wife.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi blueyfish. Hyundai Finance's March 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 on this car, make sure to take advantage of the $1,500 cash incentive that Hyundai is currently providing on it.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • blueyfishblueyfish Posts: 26
    Thanks Car_Man for your reply. I leased this car Friday and all numbers matched yours. So far, my wife loves the Sonata.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome blueyfish. I'm glad that everything worked out. I hope that you and your life enjoy your new ride :shades: !

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Looking to lease and I am trying to do all the research possible whether I should lease, and I am positive that I am going to do it with the Sonata. Got a great deal from a local dealer. Called all 5 hyundai Dealers in town, Everyone quoted me 290 a month except one.

    I want the GLS with Popular package, mostly for the Alloy wheels and Heated Seats. Final Dealer found the car and with incentives and rebates that I qualify for he got me to 212 with no money down, or 230 with all tax, licensing, and fees. Best deal I have seen on it. I am pretty sure I am going to do it. It's 36 months 36000 miles. I have been keeping an eye on my mileage and i am averaging only 500 miles a month, so I am pretty sure the mileage won't be an issue. So I am thinking I am going to give it a go. Any Suggestions or things I should know?
  • I'm curious if anyone knows the rate factor, residual, and incentives being offered in May? I want to see if the offers I'm receiving are competitive and as low as they can go.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings wantasonata1. Hyundai Finance's May buy rate lease money factor and residual value for a 36-month lease of a 2013 Sonata Limited (non-Turbo) with 15,000 miles per year are .00109 and 56% for consumers who qualify for its top credit tier.

    Hyundai is providing a $1,000 cash incentive on leases of this car in May. Make sure to take it into account when negotiating your car's capitalized cost.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • davepqdavepq Posts: 2
    edited May 2013
    I have been reading the posts here and some of the replies are simply amazing!

    After I went to my closest Hyundai dealership yesterday, I walked out because I felt I was being taken advantage of. I have to go back to another dealership ASAP. My current 2011 Sonata GLS 3yr lease ends in 2 months.

    I would like to know your opinions of what I can expect my approximate payments to be on leasing a base 2013 Sonata GLS with the regular preferred package (power driver seat / alloy wheels) standard 3 yr. 12,000 miles, zero down with taxes rolled in.

    I will be turning in my 2011 Sonata that has a residual payoff value of $12500. It's in excellent shape (just needs new tires) and has 33,000 miles on it.

    There are supposed to be current incentives on returning it and getting a new one. And I have excellent credit.

    Any advice would be GREATLY appreciated!

    Thanks!
  • backybacky Twin CitiesPosts: 18,784
    FWIW... I have recently seen GLS leases advertised as low as $209/month, 36 months, 12k miles a year, with only first payment up front. This is in the Twin Cities and does not require the leasee to be leasing a Hyundai now. I would expect to get special consideration if I were a current leasee. For example, the lease on my Sentra is expiring soon and I have been offered multiple incentives by Nissan for leasing another Nissan. I was also offered special incentives by a local Hyundai dealer for turning in my Sentra to them and leasing a new Hyundai.
  • davepqdavepq Posts: 2
    Thanks Backy.

    I was hoping I might be able to get one under $200 per month. I was sent a flyer form a dealership in my area that said $150 per month but you know how that goes, you get to the salesman and it's a whole different story.
  • xian5681xian5681 Posts: 13
    Hey Carman,

    First time trying to lease and found this offer and would love your opinion on what I can do to work the deal in my favor.

    Thanks in advance.

    2013 Hyundai Sonata 4dr Sdn 2.4L Auto SE 4dr Car
    LEASE FOR ONLY $ 199.00 A MONTH
    2013 Sonata SE. Lease for only $199.00 a month. 36 month lease. 12K miles per year(36,000 miles total). $.20 excess mileage charge. Zero security deposit. One at this payment DHS0838. HMF lease bonus $1,000. Valued Owner/Competitive Owner Coupon $500*. Military rebate $500** and $ 2,195 cash or trade equity due at lease signing. On approved credit. * Must be currently registered Hyundai owner or own any vehicle except Kia. **Active duty/retired military, veteran, reservists eligible. Proof of service required. Payment plus tax, license, doc fee and other Government fees apply. Offer ends 5/31/13 or when sold.
  • oilmuttoilmutt Posts: 5
    I leased a 2013 sonata 2.4L with power driver seat for 36 mo.,36k miles for 0down at $220.00 per mo. including all fees and taxes. You should be able to beet my price with the current competive marketplace.
  • salesguyjaysalesguyjay Posts: 22
    On a GLS with pref pack you can definitely negotiate to be at or near that 200/month mark.

    My advice is to figure out which Sonata you want - then let us know so you can get the appropriate MF / Residual to ensure the dealer isn't adding his points to the MF.

    Hyundai is still very hot right now - but aren't happy with their sales results from last month - so there's a huge push ESPECIALLY in leasing to get them on the road.

    You should definitely expect a discount of around $1500 and $1500 in lease cash/rebates!!
  • steebsteeb Posts: 4
    Hello,

    I currently have a 2011 Hyundai Sonata GLS I leased on 1/14/2011. I pay $250/mo - 36mo 12k miles/yr. I put down $1200 which included a trade in, taxes, first month payment and fees / tag etc.

    The lease is up in Jan, I am currently 2k miles under my lease. The dealership wants me to trade in my car early for a GLS with the higher package with fog lights, alloy wheels. It would be nothing down, hand in keys and go payments would be $250 a month still for 36 months.

    I asked about about the SE with navigation package, he said it would be $325/month with nothing down, just an increase in my monthly payment. My credit is not perfect, but in the lower 700's.

    Are these good prices or can I do better elsewhere?
  • salesguyjaysalesguyjay Posts: 22
    Credit is fine - Still puts you @ Tier 1.

    Just make sure you see how they acquired the numbers to come to that payment. DO NOT NEGOTIATE ON PAYMENT!!!

    Make sure the money factor is .00102 ... They probably have you @ .00142 right now - and it shouldn't be. Residual is 60%.

    Find out what kind of discount you've gotten to get to that $325 payment. I'm pretty sure you can get under $300, but i haven't run the physical numbers.

    You should be getting at minimum a $1500 discount off MSRP ... BEFORE REBATES.

    Good luck!
  • steebsteeb Posts: 4
    So I went to the dealer tonight and they offered the SE pack1 (without nav) for 299/mo. I am trying to get them to go for under $300/mo for the SE with nav.
  • salesguyjaysalesguyjay Posts: 22
    What was the money factor? How much did they discount the car? Let me know - lets make sure you get a good deal :)
  • newleaser2newleaser2 Posts: 1
    My 2011 sonata lease is up in a few weeks, I'm planning on heading to the dealership this weekend to turn that one in and lease another.

    Can anyone provide current money factor/residual value info for the GLS and Limited models on a 3yr 12k mi lease? I've looked around and keep finding conflicting info.

    Also, we're considering trading in my wife's car to purchase a 2013 Santa Fe Sport. I expect 6-7k for her trade in. Because of the low miles on my Sonata I'm confident there's 2k in equity above my buyout price. Any advice about negotiating the purchase of this car alongside the lease of a new sonata would be much appreciated.

    I'm hoping we'll be able to get some real bargaining power by getting 2 cars.
  • salesguyjaysalesguyjay Posts: 22
    GLS:
    MF is either .00095 or .00085 depending on exact model... Residual for all is 61%

    LIMITED:
    MF is .00109 across the board and residual is 58%
  • tashakoritashakori Posts: 1
    I just leased a Sonata (GLS) Yesterday in Michigan. The money factor for this vehicle is currently set at 0.00089 and 60% residual on a three year lease. FYI, the money factor is the same regardless of the mileage. Hope this helps.

    P.s. I was able to get $1500 in incentives
  • artiyomartiyom Posts: 4
    Hi. So I'm thinking of leasing 2013 Hyundai Sonata GLS, and this is going to be my first leasing experience and there are couple things I don't understand. Here on Edmunds, it says that there is an option without down payment (it's what I need), which will cost 255 dollars. So am I understanding this correctly, that I will go to the dealer, pick my car, pay couple hundredths of dollars for title and registration things and that's it? No other payments? Then I take the car home and pay monthly 255+9% tax which is $278? And that's it right? Or there is something that I'm missing? Also it says that there is some "Lease Cash: $1,500" - what exactly this means? Am I going to receive 1500 check from the Hyundai? I live in LA if it matters.
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