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Hyundai Elantra Lease Questions

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  • Hi Car_man,

    Can you please provide the lease numbers (mf & resid) on 24 and 36 month, 12K and 15K mi/year leases on the 2012 and 2013 Hyundai Elantra GLS Sedan. Also, is there any lease support being provided?

    Thanks
  • Car_Man -

    I'm considering an Elantra GT and wondered if you had any info on the October MF & residuals for a 24mo/12K per year or 36mo/12K per year lease.

    TIA!
  • You're welcome steevo.

    Car_man
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  • Welcome bravely. Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

    Good luck in your negotiations and make sure to let us know if you have any questions.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • taher3taher3 Posts: 1
    I was shocked to learn yesterday that Hyundai Finance Co. will charge me $400+tax for not buying or leasing a new car from them after returning the old leased car. This was never disclosed to us by the selling and returning agents of the hyundai company but was cleverly placed in the contract. The leased car was already returned 2 months ago in excellent condition after inspection by their company. The car was returned with low mileage (26,000 miles instead of 30,000 mile per contract) and fully paid, one month before the end of the contract. We were told repeatedly by the Hyundai agents and Bank that there are no more charges and the case is closed.
    We ended up leasing Ford Fusion, 2 months back, after returning hyundai elantra and now we are being penalized by this deceitful company by sending us to collection if we dont pay the $424 "disposition fee", immediately. BUYERS BE AWARE before leasing any car from HYUnDAI LEASE COMPANY. Plz let this be known to all. Thanks.
  • steevosteevo Posts: 330
    You should beware of yourself. Did you read your Ford lease?
  • sandman_6472sandman_6472 Coral Springs, FLPosts: 2,578
    edited October 2012
    "but was cleverly placed in the contract"...Did you not read the whole contract before you signed it? Excuse me but isn't it the buyers responsibility to read the "whole" contract before signing on the dotted line? Cleverly placed in the contract...? Now you want to blame Hyundai because you agreed to a part of the contract, written in plain English, and some how it's their fault? Excuse me while I stop laughing here for a minute!

    Personal responsibility folks, that's the name of the game. Why do so many Americans not want to take personal responsibility for their actions...I don't get it? Time to suck it up here...really folks...a life's learning lesson...READ EVERY LINE OF A CONTRACT! Especially when it's one of the most expensive purchases people make...read it!

    The Sandman :confuse: :sick: :shades:

    2014 Hyundai Tuscon SE/2005 Mazda 3s/2008 Hyundai Accent GLS/2009 Nissan Versa SL hatch

  • CarFather (Car_Man) do you have #'s for a 2013 Elantra GLS w/ pref package 15k/yr 36m lease?

    Many thanks :)
  • Ha Hi pinksnyper :shades: . Here you go. Hyundai Finance's November buy rate lease money factor and residual value for a 36-month lease of a 2013 Elantra GLS Sedan with an automatic transmission and 15,000 miles per year are .00132 and 66% for consumers who qualify for its top credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Car Man....How about the December money factor and residual numbers for the same car...Hyundai GLS automatic, 3 year lease at 10,000 miles a year. We are in in So Cal if that matters. Thanks for all your good advice.
  • Hi pvjimbo. Hyundai Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2013 Elantra GLS automatic with 10,000 miles per year are .00132 and 68% for consumers who qualify for its top credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hey Car guy,

    So this is the deal I got from the dealer in Van Nuys CA.
    2013 Hyundai Elantra GLS w/Preferred package MSRP 19,705.00
    Offer:
    Vehicle: 18,650 taxes 1,638.88 total 20,626.88
    due at signing 626.00 36months @ 236.90
    money factor: .00132 residual 66% = 13,005

    I thought the residual should be around 68%?

    Is this a good deal?

    M

    I feel like this is still a high payment.
  • Hi needadeal4. The money factor that you were quoted looks good. It's right in line with Hyundai Finance's buy rate for this model.

    The Elantra doesn't have much of a spread between its MSRP and dealer invoice price. I'd say that there's probably a little under $700 or so. So the $1,000 dealer discount that you are being given looks good to me.

    The two main negotiable aspects of this deal look good, so I'd say that this looks like a good deal to me.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Thanks Car_man!

    I actually got them down to 18,300 today and think I am going to make the deal.

    Thanks again

    M
  • doc_vdoc_v Posts: 11
    edited January 2013
    Hello Car Man,

    First of all, thank you so much for providing this service. It is much appreciated

    I'm here in Northern California and looking to lease a 2013 GLS with Auto and Preferred Package.

    Through the Costco Auto Buyers Program, I am being offered a good price on the car and MF, but the Residual seems considerable lower than what you've quoted here.

    MSRP $20,020*
    Selling Price $18,000
    Residual amount is $11,211 [or 55% if I'm doing my math correctly]
    MF is .00091
    12k miles per year

    *The model they're quoting includes carpeted floor mats, cargo net, first aid kit, auto dimming rearview mirror with Homelink, mud guards and rear bumper protector.

    Is this accurate? Would you please provide the latest numbers?

    Regards.
  • You're very welcome needadeal4. Good job on getting them to lower the selling price.

    Car_man
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  • Hi doc_v. The selling price and money factor that you were quoted look good to me.

    You never mentioned the payment for this car, but all of the factors that go into calculating it look good to me.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • dylrexdylrex Posts: 57
    Hi Car_man.

    Can you please provide me with the money factor and residual for a 3 year lease with 15k per year for an Elantra GLS?

    Thank you!!
  • doc_vdoc_v Posts: 11
    Car_Man

    My main concern was the Depreciation Factor of 55%. This is opposed to the 63-66% you've quoted above.

    55% seems especially low considering they are only preliminary numbers and I've yet to submit to any credit reviews.

    The monthly payment is $196 per month including tax and includes a $2,000 cap reduction.

    Could you tell me what the depreciation factor should be with a credit score around 700?

    Thanks again.

    Doc_V
  • dylrexdylrex Posts: 57
    Hi Doc_V
    I've been shopping the same vehicle and I found the below numbers on another site. These numbers are for 15k miles a year. The residual would be 2% higher with 12k miles a year.

    2013 HYUNDAI ELANTRA GLS AT
    36 Month – Residual 61% off MSRP – .00082 Base Rate

    After seeing Car_man's response to your question, I'm a bit confused.
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