Howdy, Stranger!

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





Hyundai Tuscon Lease Questions

Hi everyone. Please use the following discussion to post any questions that you have about leasing a Hyundai Tuscon. Thanks.

Car_man
Host
Smart Shopper / Prices Paid Forums
«1345

Comments

  • :D Hi,

    My husband and I were just discussing the pros and cons of leasing a Hyundai Tuscon. We saw that in our area (San Francisco) you can lease a Tuscon GLS for $169 a month, which seems like a great deal. The question we have is what are the lease terms for a lease like that? What kind of down payment? Do you pay taxes on a car you lease? What will the balloon payment be like at the end, if we choose to buy at the end of the lease? What kind of mileage is allowed? How long are the lease terms? Etc..

    Any glimpse you could give us into leasing a Tuscon would be helpful.

    Thanks a million,
    Kristinichka
  • danf1danf1 Posts: 935
    The Tucson lease program is very good right now. Give me some details about which model you want with what equipment and I can tell you what the lease should work out to be. On a cautionary note, the 2005s are almost gone and the lease expires at the end of the month, so don't think too long about it if you are going to do it.
  • It's not clear if you are describing some nationwide lease program or some thing specific that only your dealer is offering.
  • We are looking at the Hyundai GLS 2WD w/no additional options. We are planning to buy/lease something this week. We are just trying to figure out if leasing or buying a Tucson is in our best interest right now.
  • I was looking at the Hyundai website for deals on the Tucson in our area and it brought up the $169 lease. (San Francisco)
  • Hi Kristinichka. It sounds to me as though you live in California. Hyundai is advertising a special enhanced lease on the 2005 Tuscon in that state featuring a $169 monthly payment. In order to know the exact terms of this deal, you need to consult the advertisement that you saw. I just looked it up on the Hyundai site and the fine print states: "Lease a 2005 Hyundai Tucson GL 2WD A/T* for $169/month for 24 months, $1,799 customer cash down plus $2,900 HMFC origination support**, and $1,968 due at signing. See your local dealer for lease details. This program is effective from September 1, 2005 through September 30, 2005." As you can see, a $1,799 down payment is required to arrive at this payment. This advertised lease most likely allows 12,000 miles per year and is for 24 months. I am not sure what this truck's lease-end purchase price is though because it is never mentioned in the ad. In answer to your tax question, yes in most states consumers are required to pay sales tax on leased vehicles.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Hi Car_Man!

    Just wondering if you have MF's and RV's on the 2006 Hyundai Tuscon Line, specifically the GL 2WD and 4WD. I live in RI if that has any effect.

    Thanks so much.
  • danf1danf1 Posts: 935
    For 39 month leases 12k/year
    GL 2WD MF .00109 RP 46%
    GL 2wd manual MF .00099 RP 44%
    GL 4WD MF .00115 RP 46%
  • thanks so much!!
  • Here where I live in New York, Hyundai has an advertising supplement inserted in newspapers. On the back page, at the bottom, in fine print it state that the lease-end purchase price is negotiated before the lease is signed. So it may be possible to get a real good deal with a low lease-end purchase price.
  • Hello alpine1. The fine print in the advertised lease that you saw is a little strange. Vehicles' lease-end purchase prices are based upon a percentage of their full MSRPs. This percentage is provided by banks to dealers and is not negotiable. In fact, the higher a vehicle's lease-end purchase price is, the better it is to lease. This is because with a higher purchase option price, you are paying less for depreciation in your truck's lease payment. The higher a vehicle's residual value is, the lower its lease payment will be. Some consumers are able to successfully negotiate a lower purchase price for their vehicles at the end of their leases, but you won't know if Hyundai Finance is willing to work with you on your truck's purchase price until a month or two before the scheduled end of your lease.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Hey car-man
    I am helping a friend who is interested in leasing a Limited o5 or 06 Tucson. Can you please give me the residual and MF on a 3/36 as well as the advertised 27/27? Thank you car-man......Dan
  • danf1danf1 Posts: 935
    MF for 39 mos on a 4x4 Limited is .00184 27 mos is.00211
    Residual for 39 mos 12k/yr is 49% 27 mos is 61%. Deduct 1% off of the residual for 15k/yr.
  • thank you danf1, is it the same for the two wheel drive?
  • danf1danf1 Posts: 935
    Front wheel drive money factors 27 .00176 and 39 .00204
    Residual values are 60% and 48%.

    There is a $1500 lease origination support (rebate) on the Tuscons as well, so keep that in mind as you are negotiating.
  • alpine1alpine1 Posts: 51
    Hello Host - Thank you for your thoughts on the Tucson lease. I copied the following from the advertisement, " Lease a Tucson for $199/month for 39 months. $2198 due at lease signing. Excludes taxes, title and license. Based on MSRP $18,945 including freight. Tucson closed-end leases offered through HMFC. Net cap cost $15,441 includes HMFC origination support $1,000. Lessee responsible for excess wear and mileage at $0.15/mile over 39,000 miles. Lessee has option to purchase at lease-end price negotiated at signing. Subject to HMFC credit approval. Only well-qualified lessees eligible. Offer ends 11/30/05." There is no mention of residual value in the advertisement. I'll try to contact HMFC for an explanation, but since the ad has expired I may not get a reply.
  • Hi car_man:

    Looking for mf & rp on 2006 GLS 4wd (12k/yr, 36 & 48 mons). Northern NJ area, purchasing end of May or early April 2006. Any incentives coming up? Too early for these figures? Thanks for any info.
  • Ooops,,, so sorry ... meant end of MARCH not end of May. Thank you.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings indigomuse63. If you were to lease a 2006 Hyundai Tuscon GLS 4WD through Hyundai Motors Finance right now for 39 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00210 and 45%, respectively. I do not believe that Hyundai is currently running a 48 month lease on this truck. The only other term that I have seen for it is 27 months. In your area, Hyundai is currently providing $1,500 lease cash on this mode. Make sure to take this cash into account when negotiating your capitalized cost. These incentives are only scheduled to run through March 31st through, so if you want to lease in April or May you will have to check back with me then to see how thie truck's lease program has changed.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • kenbonnkenbonn Posts: 1
    Just when I thought I had a good price on a 2006 Tucson using the Costco membership price, I started reading about leasing and I think it's a better deal for me financially. I was quoted the invoice price of $21,756 and $1,000 manufacturer rebate, for a final cost of $20,756. Do I just go in there and see what it would cost to lease the car? Another question: if you have to put money down, is that held toward the purchase price or transfered to the next lease? I'm reading about the lease process, and this forum helps, but I'm not sure I understand it. And I'm supposed to make this decision in the next couple of days! I'd appreciate any advice.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi kenbonn. Hyundai's cash incentive for leases of the 2006 Tucson is actually higher than its normal customer cash incentive for it. The lease cash is $1,500. Since you have already gotten the dealer that you are working with to agree to lease you this truck at dealer invoice, have them subtract this $1,500 from your vehicle's capitalized cost and then use Hyundai Finance's buy rate lease money factor to calculate its monthly payment. The Tucson's money factors vary by trim level. If you describe the exact truck that you are interested in getting to me I would be happy to tell you what its current lease program is like.

    Consumers can and should lease any vehicle that they are interested in without making any sort of capitalized cost reduction. All you have to pay at lease signing will be your vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $50 increment, Hyundai Finance's $595 acquisition fee, and any required state taxes or fees. I always advise consumers against making capitalized cost reductions on leased vehicles because if their vehicle is totaled in an accident or stolen and never recovered, their down payment essentially disappears.

    Car_man
    Host
    Prices Paid Forum
  • Hi Car_Man,

    i just got a quote from a dealer in central NJ. it's a 06 limited with sunroof and a few other extras. MSRP is $26690 (including $600 destination). i dont know the invoice, but estimated at ~$24700, reasonable? the salesman offer me 36 month lease @ $320/month with $2000 down. all tax & fees included. he said he calculated based on $500 below invoice. i am note sure how to calculate these (MF, residual, etc.). do you think it's a fair deal?

    thanks a lot
    ax
  • Hello ax. I believe that a loaded 2006 Hyundai Tuscon AWD has a spread of just below $2,000 below its full MSRP and dealer invoice price. Plus Hyundai is currently providing $2,100 lease cash on this truck. This gives us a spread of around $4,000 to play with. You mentioned that you were quoted a price of $500 under dealer invoice for this truck. I personally would want to a little larger discount than that, given the $2,100 lease cash that is available on it right now. Shoot for a larger discount and see what happens. The worst the dealer can do is say no.

    As far as this truck's lease program goes, I believe that Hyundai Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2006 Tuscon Limited AWD with 15,000 miles per year are .00100 and 44%, respectively.

    Car_man
    Host
    Prices Paid Forum
  • thanks Car Man. this really helps a lot!

    ax
  • oh, a quick follow up question: when we calculate residual for lease, do we use MSRP as the base or the actual price after cash back and all the discounts? thx.
  • kyfdxkyfdx Posts: 28,733
    Always use MSRP to calculate the residual..

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Hi Car_Man,

    I live in Cincinnati, OH and received a quote of $17,995 for a used 2006 GLS 4wd with 11,300 miles. I also received a quote of $20,593 from another dealer for a new 2006 GLS 4wd. Which deal is better? I figured the depreciation in value is less for the used vehicle; therefore, my payment would be lower. I was thinking of leasing for 24-36 months.
  • You're very welcome, tucson2006.

    Car_man
    Host
    Prices Paid Forum
  • Hi amandaleigh. Which truck you should go with really depends upon whether you want to lease or finance your purchase. You won't be able to lease the used Tucson. If you want a really low monthly payment, you are going to have too lease the 2007 model. If you don't mind having a higher payment because you will eventually own your vehicle, then you might want to go with the used 2006 model. You're right that you'll likely end up paying less depreciation on the used Tucson, but to me there's always something great about getting a brand new vehicle that makes the additional depreciation worth it. Basically, there's not really any wrong answer in the new versus used debate, its more about what you would personally prefer to do.

    Car_man
    Host
    Prices Paid Forum
  • val6val6 Posts: 2
    A few questions: first, I'm trading in a 1997 Mercury Mountianeer in "fair" condition @ 137,000 miles- Kelly Blue book gives a trade-in at $2380, but the TMV appraiser gives $1645; the dealer I went to says $1500.

    A dealer gave me MSPR of 21,830. the lease term was 30 months (odd?) money factor of .00234, LEV A@ 51%, a rebate of 2100 (as of Nov 1), trade-in $1500, amount due at startup $3600 (I asked for 0) monthly is $368.

    Where does this deal stand?

    Many thanks!

    VAM
«1345
Sign In or Register to comment.