Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Hyundai Sonata Lease Questions

13738394143

Comments

  • ken117ken117 Posts: 196
    Typically that means you will lease a certain model at that monthly lease payment. However, in the small print it will likely show at lease inception you would pay the first months payment, plus tax, registration and other fees, such as the acquisition fee which can be hundreds and the dealer doc profit fee. Likely the cash payout will be more than $2,000.

    Such ads are designed to get you to visit a dealer. The should be viewed with suspicion.

    The lease cash is a cash amount paid by the OEM to reduce the amount of capitalized cost, which is the base cost of the lease without the fees and interest.
  • backybacky Twin CitiesPosts: 18,746
    edited May 2013
    In my area (Twin Cities) some dealers offer "true zero" (or other such name) leasing, which means NOTHING up front, not even the first payment. So they roll that first payment, taxes (in MN you have to pay taxes up front, cannot be included in the monthly payments), license, fees into the costs of the lease and literally all you pay is the monthly payments starting with the 2nd one. I like that approach as it's very simple, and I got one of those deals last November on a 2013 GLS with Preferred Pkg. My monthly payments are only $47 because I traded in a 2007 Sonata GLS. But I've seen these kinds of deals advertised recently for as low as $225/month. YMMV of course. But IMO your dealer's offer of $255 + tax on a GLS with nothing up front is not a very good deal, given Hyundai is trying to move Sonatas.

    Update: just saw a local offer for $229 on the GLS, 36 months, only first payment up front (taxes and fees included). Also saw an ad for $199/month for 39 months with 0 up front for a 2013 Altima 2.5S, and $220/month with 0 up front for 36 months on a Passat S automatic with Appearance Pkg. So there are deals to be had out there on little-to-nothing up front leases.
  • artiyomartiyom Posts: 4
    So you mean I will have to pay that ~2000 even when it says "0 due at signing"? That's what it says in the description of that lease here on Edmunds!
  • steebsteeb Posts: 4
    I just leased a 2013 Sonata SE $278/mo for 36months. 12k miles. 24,111 was the agreed price. I got out of my GLS 7 months early. 0 down, signed and drive.
  • artiyomartiyom Posts: 4
    So you paid nothing but registratin fees? "got out of my GLS 7 months early" I didn't get this, you are saying you've traded in your old car?
  • steebsteeb Posts: 4
    My lease is up in January. I didn't pay anything today. According to the paperwork its $134 taxes, title $185, dealer fee of $673

    I signed paperwork, and they gave me keys. I am guessing they worked that fee into the monthly payments.

    cost: 24,111
    payments 13,394
    35 payments of 10,432
    $278/mo
  • anthony212anthony212 Posts: 13
    Ok guys here's what happened, my father went to go Millennium Hyundai in NY to lease a car. My father told me he wouldn't give out the exact breakdown, but he gave him a printed piece of paper from the dealership with all the pricing. Should he go for this deal or is there more room?

    2013 Sonata 4D Sedan GLS Auto
    Original MSRP $23140
    Dealer Cost $22394
    Selling Price $18396.69
    Residual Value 59% $13652.60
    Mileage Adj +2% $462.80
    Adjusted Resideual Value $14115.40
    Rates .000950
    Rebate $1500
    Trade in $2300
    36 Months @ $149.00

    The thing that I didn't like is that he wanted to take the trade-in $2300 + another $1300 for taxes
  • CarMan, I need a little help very upside down in my 2011 sonata se turbo 101,000 miles. Buyout is $16,000.00
    According to dealer they are giving me $10,ooo so I'm - $6,ooo

    On a 2013 sonata base auto transmission
    Looking at $425 a month 48 month lease with a total of $1,500 out of pocket
    Seems like a horrible deal am I correct ?
    Thanks
  • donm2303donm2303 Posts: 4
    Does anyone know the residual value and money factor for a 2014 Sonata GLS 36month lease with 10k miles/ year?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi upsidedown2011. That's a lot of negative equity to bury. Is your current Sonata giving you any trouble? You would probably be better off waiting until you are less upside down to get something new.

    I would be happy to evaluate the deal that you were quoted on the new Sonata, but it would be easier for me to do so if we separate the deals. What are the MSRP and selling price that you are being charged?

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CARMAN!

    A couple of dealers here in SoCal told me that Hyundai doesn't offer a 10k mile/yr lease on a Sonata; 12k is the lowest. Is this accurate? They've got to be one of the only manufacturers who don't do ultra low mileage leases if this the case.

    Please advise.

    Thank you.
  • backybacky Twin CitiesPosts: 18,746
    I was told the same thing by 2 different Hyundai dealers in my area. I think it may be a general HMAC leasing rule, not just for Sonatas.
  • linhsilinhsi Posts: 2
    Our current lease ends in sept and its a 2010 Sonata GLS with 26k miles (very low mileage). Our dealer contacted us, and said we can end the lease early, and help us with a new purchase/lease of another vehicle. They offered first payment free 1st THREE months, monthly would be $199+ sales tax. No down, No security Deposit. I kept asking if there are other fees, and they kept saying NO. Not sure if they're playing games, but I thought there is acquisition fee, title fee, or other fee's that make up. But the guy insisted there are no other fees. Assuming that's true, is that a good deal ?
  • linhsilinhsi Posts: 2
    Our first time returning our lease vehicle (sonata gls). What do you they inspect ? What kind of excuses will they make to make you pay as "excessive wear and tear"? The interior of the car is so clean, there are no dents, maybe just some bird poop. However, there is a minor ding on the front window from a rock, that's hardly noticeable. Thinking about covering it up, so it looks like white bird poop.
  • backybacky Twin CitiesPosts: 18,746
    edited June 2013
    Hyundai should send you information near lease end about wear and tear policies. If they don't, call Customer Service and ask for it.

    Also ask them, if you get a lease on a new vehicle, if they will give you special consideration on wear and tear on the old car. Nissan offered me $500 towards any wear and tear charges on my 2010 Sentra if I were to lease a new car. Also offered to cover up to 4 payments, and gave me a real nice deal on a 2013 Sentra. I didn't take them up on it because I don't like the 2013 Sentra and no other Nissans interested me.

    You could take the car in early to the dealer and see what they say about the windshield. If they'll charge you for it, and your insurance has 0 deductible glass coverage, you may want to fix the windshield before turning the car in.
  • backybacky Twin CitiesPosts: 18,746
    What vehicle is Hyundai offering for $199/month + tax? If it's a 2013 Sonata GLS, that's a pretty good deal but not exceptional. If they are in fact going to make your first 3 payments for you, so you only have to make 33 payments, that is a very good deal.

    Check the lease, I'll bet there's a disposition fee of some kind at the end of the lease if you don't purchase the car. It would be unusual to not have such a fee.

    However, your 2010 Sonata might be worth more than its residual value, given the near-perfect condition and low miles. What's the residual on it?
  • anmcanmc Posts: 2
    edited June 2013
    Hi,
    I am 20 something and trying to buy my first car, and I need your help. I am thinking of leasing a GLS Sedan 2.4L 4-cyl. 6-speed Automatic. I am based out of Houston. Can anyone please give a ballpark estimate of
    - what Monthly lease payment can I expect to be paying?
    - what down payment will be required?
    - Any preferred Hyundai dealers in Houston

    Thanks in Advance!
  • antoniusantonius Posts: 24
    edited June 2013
    Looking for the money factor and residual rates on a 36 month and 24 month lease on a Sonata turbo with 12,000 miles per year
  • apv1982apv1982 Posts: 1
    I am looking to lease a Sonata Ltd no NAV and got offered a 3 year 12k miles /year lease for 2K$ down and 299$/month. Is this a good price to go with?

    This is in Michigan and have a 500$ rebate included.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi straightdope. It's strange that they wouldn't offer a low mileage allowance like 10k, but it wouldn't surprise me.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi anmc. If you provide me with the MSRP and dealer invoice price of the exact Sonata that you want as you want it equipped I can work up a payment on it for you. you can find that pricing data over in the New Vehicle Pricing section of Edmunds.com.

    Consumers can and should lease any vehicle that they want without paying any down payment. You will be asked to pay your car's first month's payment and possibly other fees at signing though.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi antonius. Hyundai Finance's June buy rate lease money factor and residual value for a 36-month lease of a 2013 Sonata SE 2.0T with 12,000 miles per year are .00110 and 62% for consumers who qualify for its top credit tier.

    I haven't seen a 24-month lease program for this car.

    When negotiating your deal, make sure to take advantage of the $1,000 cash incentive that Hyundai is currently providing on leases of this model.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • anmcanmc Posts: 2
    Hi Car_man,

    The dealer quoted me MSRP 22300 for Sonata GLS with popular package. According to him the lease works out to be 300 for 36 months @ 12000 miles/year. This will be my first car ever, hence I have no car leasing/loan history which, according to dealer makes my lease payment go up.

    Please guide if this is a reasonable lease amount? How and on what can I negotiate and by how much?

    Thanks,
    A
  • antoniusantonius Posts: 24
    edited June 2013
    Ok. I got quoted 24500 including the 1000 rebate and a .00175 MF for top tier by a dealer in CA with a 62% res on a 26600 MSRP 2.0T.

    Got a better quote from another deal of MSRP 26470, Cap cost of 22400 including rebates, and 62% res/.00110 MF. 249 a month with tax no money down except 1st payment, acq fee rolled into cap. They have a done deal if they can get me out of my camry lease with 2 mo left, otherwise I will have to wait.
  • antoniusantonius Posts: 24
    edited July 2013
    Ended up lease from Hardin Hyundai in Anaheim CA yesterday
    Got a 2.0T without Nav/Moonroof with Shimmering White

    Everything is approximate as I am doing it from memory but is pretty much within a few bucks

    MSRP 26670
    Cap 22700
    Plus Acq Fee 595
    Final payment from Camry lease rolled in 242 (owed 15990 including last 2 payments, they gave me 15750)
    Final Cap 23300
    MF .00110
    Res 16525
    No money down. Paid 1st month payment at drive off
    257 a month including 8% tax. (would have been about 247 without the shimmering white which added $2 (200 MSRP, about 76 residual) and without my last lease payment on my Toyota which added about $8 a month).

    3 year/ 36k. Phenomenal deal and super easy. Would have been in and out in about 1 hour start to finish but I got a little confused over the way the numbers were laid out on the lease agreement, but they were actually right all along and it was my fault, so I delayed the process a bit. No games, no changes to the deal we worked out over the phone. Top notch and I love the car so far. My Yelp review for them has a little more info including salesman info if anyone is interested since I don't think we can post that here?
  • mnattymnatty Posts: 4
    That is an awesome deal! I have one month left (this month) on my 36/15,000 2011 GLS for the same monthly payment!! I was thinking about leasing an Infiniti G37x, but if I can get into a 2.0T SE for that I may have to do it. Although now I see that I misread your comment that it is withOUT nav/moonroof...I was hoping to add that, but not a must-have. Hope I can swing a similar deal here in MN...thanks for the info, antonius.
  • bluejay44bluejay44 Posts: 1
    So I'm looking at the Sonata GLS and the salesman is trying to tell me that the $1,500 retail cash doesn't apply on leases. Is that true? I tend to disagree. Also, wanted to confirm 60% residual and .00067 MF. Thanks
  • If anyone in the NYC area is looking to buy or lease a Sonata, let me know, I will refer you to my salesman. No bs, no games, got me the best possible deal. I've sent him 6 customers since. Also, he will throw in free accessories like rubber floor mats, ipod cable, etc. Dealership is located in Queens.
  • I was able to get retail cash applied on my lease. Go to another dealership
  • hahmedhahmed Posts: 2
    im looking to lease a sonata se w/ nav/sunroof

    please let me know about your guy

    thanks
This discussion has been closed.