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Hyundai Sonata Lease Questions

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Comments

  • I think you need to do some reading how leases work.
    There are only 4 components of a lease:
    -car price
    -interest rate (money factor)
    -residual
    -the above 3 components dictate the 4th, your monthly payment

    Dealers are, for the most part, non-negotiable on components 2 and 3. The financing group tells them the current interest rate (based on your credit) and the manufacturer tells them the residual. (expressed as a percentage based on the # of miles the lease is).

    So what can you do? Understand 2 and 3 and negotiate the hell out of #1. Thats it.

    If you lease for 3 years/30k miles (instead of the typical 3/36), the car will be worth more at the end of the lease. So, your lease payments will go down, but the cost to buy the car at the end of the lease goes up.

    If you lease for 3 years/90k miles (extreme, I know), the car will be worth less at the end of the lease. So, your lease payments will go up, but the cost to buy the car at the end of the lease will go down.

    If cash flow right now is your issue and you truly will be buying out the lease, you should negotiate the lowest price for the car (always do this) and ask for the lowest amount of mileage lease they will offer.
  • Hi jasond02. Hyundai Finance's September buy rate lease money factor and residual value for a 36-month lease of a 2013 Sonata Limited Turbo with 12,000 miles per year are .00163 and 62%, respectively 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 is currently available on leases of it.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi thetriplei. The residual value for a lease with 12,000 miles per year would be 1% higher than the residual value for a lease wit 15,000 miles per year. I'm not sure if Hyundai Finance offers leases with only 10,000 miles per year. If It does the residual values for that allowance would likely be 2% higher than the 15k resids.

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

    Thanks for all your great posts! Can you please post the September MF & Residual for a 2013 Sonata Limited for a 48 month lease with 12k / year?
  • I am trying to figure out if a deal that I was quoted is a good deal or not.
    2012 Hyundai Sonata Hybrid w/all options.
    MSRP: $32,370
    Out the door price with all rebates, lease cash etc.:$27,620
    Lease payment, 36 months, all taxes, doc fees, everything included, $ 349.00 a month including the monthly use taxes, 12,000 mi a year.
    I am not sure of the money factor but they said it was the Hyundai standard for top tier credit.
    Residual is $18,127.
    This is for a deal in Nasville, TN. I know sales tax is 7.25 percent but I think the leases are only taxed on the monthly payment. Any help would be appreciated. Thank you. Thinking about buying this vehicle this weekend.
  • You're very welcome carpanda1. Hyundai Finance's current buy rate lease money factor and residual value for a 48-month lease of a 2013 Sonata Limited with 12,000 miles per year are .00149 and 51%, respectively 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 is currently available on leases of it.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Sladex, if you don't mind can you tell me which dealer this was. I am in your area, and would like to get the same deal. Thanks.
  • Car_man, can you please tell me the November rates for Hyundai. Thank you very much!

    Looking to lease a 2013 Sonata SE, 3/36 month 12k lease. Might go for the 2.0T version if the price is right.
  • Car_man, could you also provide the rates for the GLS for 3/36 for 10k and 12k? Also, if there is any difference between the GLS and GLS PZEV models in terms of the rates. Thought I would piggyback on this one so you could just respond in one shot.
  • Car_man,

    Can you please provide the November residuals and money factors for the 2013 Hyundai Sonata Limited and Sonata Limited 2.0T each with Premium Package? 3-year lease with 12,000 miles.

    Many thanks,

    golfmaven
  • backybacky Twin CitiesPosts: 18,682
    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: 18,682
    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: 18,682
    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!
This discussion has been closed.