Howdy, Stranger!

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





Hyundai Tuscon Lease Questions

135

Comments

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello pikeymikey. Here's the information that you're looking for.

    Hyundai Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Tucson GLS FWD with 12,000 miles per year are .00132 and 55%, respectively.

    The numbers for an otherwise identical lease of a 2010 Tucson Limited FWD are .00208 and 56%, respectively.

    I don't believe that Hyundai is currently offering support on 24 month leases of this truck. I don't believe that it has a lease program on the '11 Tucson yet either.

    When negotiating your deal, make sure to take sure to take advantage of the $500 cash incentive that Hyundai is currently providing on leases of this truck.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • miamicrv1miamicrv1 Posts: 66
    edited August 2010
    I’m always confused about the negotiation process when I’m leasing a vehicle through a manufacturers promotion program. I received an online quote from a Hyundai dealer in Miami for a Hyundai Tucson GLS with automatic and the popular equipment package.

    The quote is as follows:
    2011 Hyundai Tucson GLS
    36 months lease
    15k a year
    $259.00 plus tax a month with $2499 due at signing
    Residual Value for Hyundai Tucson GLS after 36 months is 58%
    Money factor (Based on approved credit) 0.00173
    Price of the vehicle $23,025.00

    Since this is a “special promotion” does it pay to negotiate the price of the car down or will that negate the promotional offer? Normally I would not consider paying a price this high for the vehicle. Or is the price of the car irrelevant because the manufacturer and it’s finance arm are giving me something either in the residual value or money factor instead?
  • delta737hdelta737h Posts: 603
    miamicrv1,

    National/local promo Ads are just that... advertisements. The selling price is always negotiable whether you lease or buy. Research Edmund's for invoice pricing as well as cash incentives. Also, visit overstock at zag.com for competitive low pricing in your area.

    John
  • delta....thanks for the reply....what your suggesting then is, if I negotiate a lower price that doesn't necessarily make me ineligible for what looks likes an attractive residual and decent interest rate.
    My confusion is, the dealer comes back at me with a: " this is the promo, you have to accept the price of the car as is and if not then you are only eligible for a non-promo lease" which might have less attractive terms.
  • delta737hdelta737h Posts: 603
    edited August 2010
    miamicrv1,

    You do not have to accept the selling price embedded in any lease promo Ad to get the benefits of the promotion. The benefits usually include an artifcially inflated residual value and the lowest money factor offered by the fund provider for those with outstanding credit. Both translate to lower monthly payments. In fact, I read promo Ads with the sole purpose of extracting useful information (e.g., acquisition fee, residual, money factor, etc). Then, I use that information, after thoroughly researching the selling price/money factor/residual/fees, to construct a one-page lease proposal. This puts me in the driver's seat (no pun intended) so that I'm in control of the deal; not the dealer. I never allow a dealer to "run numbers" or control the deal. I couldn't care less what they're offering in terms of a payment and have zero interest in seeing their invoice sheet or their numbers.

    Once I've completed my lease proposal, I email it to dealer and negotiate via phone/email from my home. I have my lease calculation program fired up and ready to rumble. The only thing I'm likely to negotiate in my proposal is the selling price which only requires a few keystrokes. And, bing-bang-boom; I'm done!

    When negotiations have been finalized, then the dealer takes the numbers in my proposal and transfers them to the lease agreement. I ask the dealer to please have the keys ready and the contract ready to sign. Everything takes about 30 minutes and away I go!

    I go to a dealership for three reasons:

    (1) Test drive, if necessary
    (2) Sign papers (30 minutes)
    (3) Maintenance Service

    That's all there is to it!

    John
  • John...thanks so much that's the information I was looking for.
  • delta737hdelta737h Posts: 603
    miamicrv1,

    You're very welcome and best of luck!

    John
  • Hi John,

    Thanks for all the great info. It has been very helpful. I really like the idea of drawing up your own lease proposal. Is there any way that you could send me the template? I would really appreciate it.

    Dan
  • Hello Car_Man and mods,

    Could you please provide lease rates for the 2010 Hyundai Tucson GLS trim and 2011 Tucson GL trim levels.

    Thanks in advance!
  • cimicimi Posts: 2
    Ok, so this is after the fact and maybe I should just leave well enough alone, BUT, I guess it's just human nature to questions the deal I got. Leased a 2011 GLS with automatic trans. and really no other options other than mats and cargo tray (which I think is very cool to have). $245/36 mo. with $2300 down which did NOT include the first month payment or dvm fees. which were an additional $245. + 207. respectively. Carman, I think I did ok...the sales manager made it sound like it was an outstanding deal (due to the fact that the first saleman was letting us leave so the Manager was "teaching that salesman a lesson" by doing everything possible to make us happy)...or do I need to do more research next time.

    A few more facts of the deal:
    MSRP 22,840
    Gross cap cost 21,270
    Adjusted cap cost 19,996

    Much thanks in advance.
    Chris in NY
  • John,
    Your post was so helpful - especially to a person who dreads the negotiation process and the back and forth of waiting for "running the numbers."

    Would it be possible for you to post an example of the lease proposal you send/fax? I think this is the most convenient, efficient, and stress-free way to lease/buy a vehicle and i appreciate any help you can give since so many salespeople are apprehensive to give numbers over the phone or via email.

    Thanks!
  • seeingred,

    You need to INSIST that they give you a copy of their LEASE WORKSHEET. There is absolutely no reason whatsoever for them not to give it to you. If they don't, then refuse to do business with them. This is a computer genertated document that contains all pertinent information and will tell you everything you need to know and then some.

    You can email it to me at...

    diffeq@zoominternet.net

    and I'll be happy to evaluate it for you as well as send you sample lease proposals.

    John
  • Hello enthusiastdre. Here's the information that you're looking for.

    Hyundai Finance's September buy rate lease money factor and residual value for a 36 month lease of a 2010 Tucson GLS 2WD with and automatic transmission and 15,000 miles per year are .00132 and 54%, respectively.

    The numbers for an otherwise identical lease of a 2011 Tucson GL 2WD with an automatic transmission are .00173 and 59%.

    When negotiating your lease on either of these trucks, make sure to take advantage of the $500 cash incentive that is currently available on leases of them.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Car_man, thanks for the details on the GL & GLS. Do you have the same for the Limited for a 15,000 mile per year, 36 month lease?
  • No problem fdavies007. Hyundai Finance's October buy rate lease money factor and residual value for a 36 month lease of a 2011 Tucson Limited 4WD with 15,000 miles per year are .00230 and 58%.

    When negotiating your deal on this truck, make sure to take advantage of the $500 cash incentive that is currently available on leases of it.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • nom2nom2 Posts: 13
    Carman,

    Could you please post the November residual and MF for a Tucson Limited 2wd for 36 months and 12k miles?

    Thanks,

    Louis
  • I'd be happy to, Louis.

    Hyundai Finance's November buy rate lease money factor and residual value for a 36 month lease of a 2011 Tucson Limited 2WD with 12,000 miles per year are .00230 and 58%, respectively for consumers who qualify for its top credit tier.

    When negotiating your deal on this truck, make sure to take advantage of the $500 cash incentive that is currently available on leases of it.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi aadez. Hyundai Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Tucson Limited 4WD with 15,000 miles per year are .00178 and 55%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I drove this car yesterday and really like it. I am interested in leasing and plan to negotiate via email to not waste any time sitting in the dealership "running numbers." I am also going to request the lease worksheet as suggested by John. I would like to be as prepared as possible.

    TrueCar.com has also helped by showing what people are paying for the same car in the local area.

    Can I have the residual and money factor for a 2011 Tucson:

    GLS FWD w/ Nav package, 15k mi, for 36 mo lease
    &
    GLS FWD, 15k mi, for 36 mo lease

    Can anyone else give me an idea of what their montly payments are? I do not intend to put anything additional down.

    Thanks so much!
  • Hello seeingred56. Hyundai Finance's January buy rate lease money factor and residual value for a 36 month lease of a 2011 Tucson GLS FWD with Navigation and 15,000 miles per year are .00156 and 56%, respectively.

    The inclusion of navigation has no impact upon this truck's lease program.

    I would be happy to work up a sample payment on the exact truck that you are interested in for you if you provide me with its MSRP and approximate selling price.

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

    Thanks so much for your help. We are just in the process of dealing with some salespeople. I would greatly appreciate your crunching the numbers below:

    MSRP- $25,210
    Selling price - $23,500
    NJ

    I am getting extremely high quotes from dealers regarding monthly payments. My current vehicle's selling price was at least $2,500 more and I am paying at least $30 less per month with the same specs.

    Any help would be great.
  • Hi seeingred56. Let's work up a payment on this truck and see what we come up with. According to my calculations, if you were to lease a 2011 Tucson GLS FWD with Navigation and 15,000 miles per year ($25,210 MSRP / $23,500 Selling Price) through Hyundai Finance right now for 36 months with 15,000 miles per year its zero down, pre-tax monthly payment would be around $320.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Car_man and others,
    This forum is a BIG help to us rookies, and I really appreciate your advice. Lots of great info here.

    I have read all the previous comments, So i think I have a good idea of the landscape, but here's my personal situation.

    Like the above person, I am interested in a 2011 Tucson GLS (still debating on the navigation package).

    I'm looking to put down about $2000-2500, and am looking at a 36 month lease. 12,000 miles may be fine, but probably looking at 13,000 or even 15,000.

    I am pretty confident I will be approved at the best credit/interest rates.

    What kind of monthly payments am I looking at? (I'm in CA if that matters for tax purposes - 8.25%)

    Again, thanks for all your help!
    -Nick
  • I'm glad that you've found this forum so helpful, Nick. I'd be happy to work up a sample lease payment on the truck that you are interested in for you, but I need you to provide me with its full MSRP and approximate selling price (or at least the MSRP and invoice price) first. You can find that data over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Car_man with another quick response.... I love it.

    Here is the MSRP for the Tucson GLS: $23,145, and the selling price (as mentioned by the dealer, with no negotiations yet): $22,543.

    THANK YOU!
    -Nick
  • No problem, Nick. Let's crunch some numbers and see what we come up with.

    According to my calculations, if you were to lease a 2011 Hyundai Tucson GLS AWD that has an MSRP of $23,145 and a selling price of $22,543 through Hyundai Finance for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $316.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • You are the best at crunching numbers..can you crunch a few for myself and my wife through

    Hyundai Finance - 36 months/15,000 miles year - we have a trade in: 2003 Santa Fe GLS AWD in fair condition (thinking we could get $2,500 from dealer - although KBB is around $3,775)

    2011 Hyunda Tuscon GLS AWD
    MSRP = $24,4780...SELLING PRICE = $23384

    Greatly apreciate it!
    Eric
  • I was quoted from the dealer the following: this was based on MSRP = $24,4780...SELLING PRICE = $23384

    the money factor is .00156 the residual % is 57. A 45,000 mile 36 month lease with 0 downpayment is 358 per month. GAP is included

    I then asked the sales mgr via email (notice he didn't give me any answers to the question - is that normal?):
    How much is the GAP insurance? How much are the additional fees such as acquisition, registration, inspection, tax?

    Would you require first months' down payment, etc. Thank you in advance for answering all of my questions.

    Here is his response below - should I walk away?

    Eric, as discussed GAP is included / standard on the Hyundai Lease.

    Normal up front fees are required and the lease is calculated with 0 cap cost reduction AKA :0 downpayment.

    I appreciate that you are working things out to this point before stopping into the dealership.

    At this point I invite you in to have a courteous, professional discussion, to review your inception fees, to demonstrate the vehicle, and to show you why

    People choose Flemington Hyundai.

    Yes the lease is based on $23,384 as the price.
  • Hi Eric. According to my calculations, if you were to lease a 2011 Hyundai Tucson GLS AWD that has an MSRP of $24,478 and a selling price of $23,384 through Hyundai Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $321.

    You would be better off having the dealer cut you a check for any equity that you have in your trade rather than using the proceeds from it as a down payment on your lease, but if you really wanted to make a $2,500 capitalized cost reduction on this lease it would drop the payment to around $247.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
Sign In or Register to comment.