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Hyundai Tuscon Lease Questions

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  • 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!
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