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Hyundai Azera Lease Questions

patpat Posts: 10,421
Thinking of leasing an Azera? Ask your questions here!
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Comments

  • ricwhitericwhite Posts: 292
    (Reposted from the main Azera site)

    Car Sought: Hyundai Azera Limited w/Ultimate package

    Program: February 2006 Lease deal ($299 mo / 27 months + ultimate package). $2925 down / $595 acquisition fee / 53% residual / .00119 (2.86%) money factor.

    Results:

    None of the dealers would agree to the $299 per month for 27 month lease deal on an Azera Limited (without Ultimate pkg) as advertised by Hyundai. The results of what they WOULD do on a lease for an Azera Limited with the addition of the ultimate package is described below.

    Dealer #1 - Westland Hyundai - Ogden, Utah -
    Negotiated Base Cap Cost to $27,900 (MSRP 30,075).
    But refused to implement the lease deal as advertised and tacked on thousands of dollars in extra fees. Result: best lease price: $474 per month + taxes. STRIKE ONE

    Dealer #2 - Riverton Hyundai - Riverton, Utah -
    Would not negotiate below $28,700 (MSRP 30,075) Implemented the lease deal. Result: Best lease price $400 per month + taxes. STRIKE TWO

    Dealer #3 - Ken Garff Hyundai - Salt Lake City, Utah -
    Refused to negotiate below $29,000 (MSRP 30075) Implemented the lease deal. Result: Best lease price $422 per month + taxes. STRIKE THREE

    Observations:

    * I knew more about the Azera than the Hyundai dealer sales people.

    * All refused to honor the advertised Hyundai lease deal on the Azera.

    * Most outright lied about invoice price and holdbacks and other financial information

    * Several added in "hidden" fees which they were very reluctant to disclose.

    * Many were rude, telling me to leave or to get a plane ticket and fly to a different city.

    * Many were completely incompetent and couldn't even work the lease software.

    Since the "lease deal" (that no dealer would fully do anyway) is over in a few days, it will make the Azera completely "unleasable" With it's very low residual, a lease on a unsubsidized Azera Ltd. Ult approaches $600/ month.

    Personally, I am very unimpressed with Hyundai on the corporate and dealer level – which is probably one of the reasons it has such a "trashy" image and is laughed at. My experiences have done NOTHING to change that image. Until Hyundai can pick themselves out of the garbage, buyers such as myself will be drawn to more "upper-class" brands such as Acura that at least know what they are doing.

    Maybe down the road Hyundai will get their act together. It might take a while, however, from what I have experienced.

    Congratulations to those that actually found a decent dealer that was honest and knew what they were doing. For the rest of you . . . good luck!
  • ricwhitericwhite Posts: 292
    Hyundai is now advertising a new lease incentive for March of 2006:

    Specifics:

    http://www.hyundaiusa.com/financing/specialoffers/special_offers.aspx

    Runs from March 1 to March 31
    $299 a month for 27 months on the Azera Limited. $2999 down / $595 acquisition fee / $1500 HMAC support (rebate) / 52% residual w/12000 miles / .00153 (3.67%) money factor

    If you want to add the premium or ultimate packages to this offer, it will increase monthly payments by $30-$80 per month depending on the price you're able to negotiate.
  • Even if you could find a dealer who would honor this (good luck, as Hyundai dealers are slimey), it's still a horrible deal:

    $2,999 down = $111.07 over 27 months.

    $111.07 + lease payment of $299 = $410.07 per month for a base Azera, NOT including all the other crap fees they'll pile on.

    Wgo does Hundai think they are? Audi?
  • ricwhitericwhite Posts: 292
    Even if you could find a dealer who would honor this (good luck, as Hyundai dealers are slimey), it's still a horrible deal:

    You're right. The Azera, unfortunately, has a low resale/ residual rate, which makes leasing expensive -- even when subsidized.

    With the subsidized lease, the Azera has a 52% residual after 27 months. That means it loses 48% of its value in just over two years -- and that's subsidized!

    In contrast, the Acura TL has a lease deal where the residual is 61% after three years. That means it only loses 39% of its value after three years. Much, much better than the Azera.

    Buying the Azera will be no better. In fact, according to Edmunds, the Azera loses over 30% of its value within the first year alone! This is something that is improving, but will not change overnight.

    Most on the Azera forums are stating that they are buying the Azera outright or leasing with the intention to buy after the lease and keeping the vehicle for 8-10 years. This would be the only thing that really makes any "financial" sense.

    For short term buy or lease, you'd be much better off buying a vehicle that holds its value unless you really don't mind losing a lot of money in depreciation.
  • joe97joe97 Posts: 2,248
    This article stated the following:

    "For those not yet sold on Hyundai's resale value, the Automotive Lease Guide is forecasting a 42 per cent residual for three years, which is fairly strong for Hyundai."

    http://www.jamaicaobserver.com/magazines/Business/html/20060304T140000-0500_9988- - 7_OBS_AZERA_IS_A_HYUNDAI_MAKEOVER_WITH_TOUCH_OF_LUXURY_.asp
  • danf1danf1 Posts: 935
    Hyundai is not offering any special residual values. They come dire=ct from ALG. This is unlike what the domestics do when they want to offer a low lease payment. They inflate residuals to get there. HMFC is offering low money factors.
  • metalgatemetalgate Posts: 5
    THe reason most dealers hesitate to do the national lease is because it's based off net pricing. Meaning, to the dealer there's no profit margin. Not to mention, in more than 50% of the states the Limited is still bringing full MSRP. Then it becomes a business decision to lose money, or make money. I work for a Hyundai dealer. It's unfortunate some of you have had such unsavory experiences. I don't believe most dealers were preparred to deal with a premium sedan buyer. I also sell Cady's, so I knew before hand what is expected. My suggestion is to most definately get an Azera, but go to a multi point dealerhsip with at least one established luxury brand. BTW, I have seen more than my share of CTS and STS buyers switch themselves to the Azera and be thrilled to no end.
  • IS THE MILEAGE TRUE TO PRINT OR IS IT LESS? THINKING OF GETTING THE LIMITED
  • how is the gas for this car??? hearing different things
    want the azera limited
    thanks
    andrea
  • After one week of ownership, i'm getting 22mpg. Not that great. But not horrible either.

    I'm so happy with my Azera that mpg isn't an issue for me.

    Look at the big picture.....mpg is only part of the big picture.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Welcome andrea. This particular discussion is more for consumers to ask questions about leasing the Hyundai Azera. You will have better luck finding information on things like its gas mileage in the following discussion: "Hyundai Azera 2006+".

    Car_man
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  • Hey CarMan

    what's the latest with the lease specials? any out there?

    what would be the details for a 2006 azera limited, 24 months ?

    I have not seen one azera on the road in the NY metro area, there has to be a fire sale soon...dealers need space for the 2007 models.....
  • I visited a local,large volume Hyundai today:aug 10 in the
    nassau county NY area_western Nassau bordering on the Queens
    New York city line.
    I walked around through the lot(i wasn,t spotted).I counted
    seven dust covered plastic shielded Azeras.
    If Hyundai intends to move their slow selling Azera they
    will have to do some "creative lease"deals.
    Potential buyers at this point don't want to buy into
    a situation which could lock them into 50%or more depreciation hit unless they can turn the car back to
    hyundai if the car does not measure up to the hype!
    hyundai the next move is up to you!
  • tictac3tictac3 Posts: 78
    HERE IS THE EDMUNDS' LEASE WRITE-UP FOR THE AZERA IN THE PHILADELPHIA, PA AREA:

    Start: 08/01/2006 End: 08/31/2006 $258.71 Monthly Payment Calculate Other Monthly Payments
    36 Month Term
    $1999 Down Payment
    $0 Security Deposit
    12000 Annual Mileage
    Restrictions Lease is based on the 2006 Azera SE with $3000 Customer lease cash.
    Comments $2,257.71 is due at signing. Dealer participation may vary. Incentives and Rebates are provided subject to the terms of our Visitor Agreement. Tax, tags and insurance are extra.
  • alrossalross Posts: 2
    I leased an Azera Limted with Ultima package as of July 24th. List price at $30K, net at $25,200 after all dealer and factory discounts. Leaed for 36 months/12,000 miles per year. Lease rate at $425 per month plus sales tax. Down Payment was $1,200 which included the first month rental and plates and taxes. The dealer netted about $600 from this.

    The Hyundai lease shows their office operation sucks as they did not bill after the first month. Their excuse they out source to someone for the billing/collections. Did get the second month billing o-k.

    I am a former Infinit and Lexus user over many, many years. This vehcile, with all thr frills is really almostequal to a 2007 Lexus ES with a price differential of $37,000 to the $25,200 for the Azera. The residual at the end of 36 months is $12,500.

    Hyundai has missed the boat. They have great advertising, classy and superior to virtually any brand. Their dealer ship operations simply do not have the experience or ambience to sell this superior vehicle. I visted four different dealers and found only one sales person who even knew the car's features.

    I'm sure they wil learn but when you want to sell a class act you have to set the stage.

    I have only about 1,000 miles on the car. It rides great, peppy and smooth and quiet. There isn't a car on the road that can provide the combination of luxury at this astounding low price.

    Al
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey pmp96lau. Hyundai is not currently providing support on 24 month leases of the Azera. Its shortest term for leases of this car is 36 months. Hyundai Finance's current buy rate lease lease money factor and residual value for a 36 month lease of a 2006 Azera Limited with 15,000 miles per year are .00097 and 40%, respectively. When negotiating your lease on this car, keep in mind that Hyundai is currently providing $3,000 lease cash on it. This money will help you to negotiate an attractive capitalized cost.

    Car_man
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  • Car man,

    Are you sure Hyundai is offering $3,000 lease cash on the car? I haven't been able to verify that on any of the websites.

    Also, let's say I negotiate a price down to $25,000 (MSRP $30,000). If I decide to lease, are you saying I could potentially get the price down to $22,000 (with the $3,000 lease cash)?
  • Nevermind. I contacted a dealer and they verified that there is $3000 lease cash available on the Azera, but it cannot be combined with the $1,500 rebate.
  • Yes, jeffal, I am absolutely positive that Hyundai is currently providing $3,000 lease cash on leases of the 2006 Azera through Hyundai Finance. If you are able to negotiate a selling price of $25,000 without the use of any incentives then yes you could potentially use a capitalized cost of $22,000 to calculate your car's lease payment.

    Car_man
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  • Oops, I should have read your next pose before responding to your first one. You are correct, jeffal, the $3,000 lease cash is not compatible with this car's normal customer cash allowance.

    Car_man
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