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Hyundai Elantra Lease Questions

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Comments

  • dylrexdylrex Posts: 57
    edited March 2013
    Sure. The initial price quote came from Superior Hyundai in Fairfield, Ohio but I ended up closing the deal with Kerry Hyundai in Alexandria, Kentucky. Superior's payment kept coming out close to $25 dollars higher than what it should have according to my calculations. Despite several unsuccessful attempts to find out why it was higher from the dealer, I discovered that it was an additional $585 worth of paint and fabric protector that had already been added to the car that they were adding to their cap cost. Because I felt they were trying to be deceptive, I contacted Kerry Hyundai and asked if they would match it. Everything was done via email and was painless. I'm very happy with the deal.
    Good luck!
  • bunkscbunksc Posts: 10
    Thank you!
  • I got this lease offer from a dealer today for a 2013 Elantra with preferred package:

    MSRP: 19,695
    INVOICE: $19,226
    NET PRICE AFTER REBATES:  $17,550
    TAX: 6%: $1193
    TAG/REG/DEALER FEE ($599): $891+ 281 (if new tag)

    OUT THE DOOR PRICE WITH EVERYTHING:  $19,704 + 281 from above

    12K MILES LEASE FOR 24 MONTHS
    76% RESIDUAL / .00074 MF - BUY OUT:$14,968

    $600 DOWN: $230 MONTH WITH TAX INCLUDED
    $2000 DOWN: $170 MONTH WITH TAX INCLUDED
    $3000 DOWN: $125 MONTH WITH TAX INCLUDED

    I would really appreciate your thoughts on this offer.

    Thanks!
  • sebzx79sebzx79 Posts: 26
    All those fees are killing you, I work in the biz and I would not pay more then 500 for tags and fees. If you are paying 1170 they are making their money here.

    Use this calculator to figure your payment out.

    link title
  • Ok, you think fees are to much. Can you explain why? What do you think about the cap price, money factor? MF seems high to me, am I wrong?
  • cali92cali92 Posts: 12
    Hi, I am no expert but I think the numbers are very high too. Look at post
    #238, this looks like an excellent deal, I am going to try to duplicate this one. What dealer are you working with? The money factor seems ok, the fees are high, I would expect 500-550 for registration, title etc but thats it. You want agreed sale price to be around 10% less than msrp, then deduct dealer incentives, then do calculations, there are many lease programs such as the one someone linked to above. Good luck, its such a pain to haggle I know.
  • driverone2driverone2 Posts: 13
    edited March 2013
    Thanks for your post. I did the calculations on the link above and the payment came out $50+ less than what I was offered. Actually, this is the first offer the internet sales guy made. I'll look into different calculators and I'll respond with something more reasonable for me. I mean $230 with 600 down for a 24 month lease with a good residual value just doesn't add up. Thanks for your help. Ps. I think I've seen the post you mentioned, that deal is awesome. The dealer I'm working with is Deland Hyundai in Florida.
  • This is a very good deal. Does you cap cost include any other fees besides th acquisition fee and how much was the acquisition fee? I have a guy trying to jack me with a $230 p/m offer with $600 down for a 24 month lease on a 2013 Elantra w/preferred package. The MSRP he quoted is identical to yours, $19695.
  • I used the calculator and then spoke to my dealer, he lost it when he heard my calculation for the monthly payment. He just asked how much I can put down so he can start a new offer. I told him about the fees and his "out the door price being to high" he never referred to it. He is working on a new deal now, hopefully he'll come up with something good for $600 down. His deal is not bad, but like you said, his fees were making a killing. Thanks for you opinion.
  • cali92cali92 Posts: 12
    Please let us know how you make out!! good luck. Im curious if he comes down. Im in NJ and will be trying next..
  • He cam back with his "best offer" which was, in fact identical to his $230 p/month with $600 down for a 24 month lease on 13 Elantra - preferred. I told him its the same offer and to stop wasting my time. After two days of emailing back and forth, if he doesn't go down after that, at least I can concentrate elsewhere. Thanks for your comments everyone.
  • dylrexdylrex Posts: 57
    According to my contract, the only fee added to the cap cost was the acquisition fee of $595. The total that was due at signing was to be $723.70. It lists $500 as cap cost reduction, $133.70 first months payment, $60 for title fees and $30.00 tax on cap cost reduction. They used a $500 rebate to cover the cap cost which left a balance of $223.70, which is what we wrote a check for at delivery.
    Has the dealer you're working with provided you with a selling price? Don't talk payment, just selling price. Once you have that, you can use a lease calculator to figure out what your payments should be. Also, don't wait on one particular dealer. Start emailing several asking for price quotes.
    Even though I think you said you were in Florida, here is a link to an ad running in the Cincinnati area papers. It used to say $125 a month a couple weeks ago.
    Good luck!
    http://www.columbiahyundai.com/WeeklyAd?siteMapItemName=5632301280869036743
  • These offers are crazy. There is nothing like it here in Fla. The deal you got is a new record. Thanks for working out the details, its a lot of help. I stopped my negotiation with the $230 p/m guy and now I'm looking into others. He had a good initial offer but would not take it down. I will keep on working and hope for better deals in April.

    Thanks!
  • sebzx79sebzx79 Posts: 26
    I went to a hyundai dealer this morning in NJ by my math I should have been at 137 a month with first payment down. They were at 171.

    msrp 19825
    dealer price 18560
    Rebates 1900 (motozuma, college, competitive)
    NJ 7%tax
    Fees 850
    money factor .00074
    Residual 76%
    12k miles a year
    I should be at mid 130s they were at 171.

    Going back tonight will have the deal done by middle of next week but on my terms. ( I am in the biz)
  • Man, whatever I figure, they are baffled by it. I mean I've been writing emails for three days now and so far, the best I have is $209 total with only first payment down. What is bad thoguh is I have to drive 80 miles to get the papers signed. How much would a delivery be, can that be negotiated in the price? Good lick anyway.
  • sebzx79sebzx79 Posts: 26
    Its all done...
    19845 was the sticker.
    I used Hyundai Circle price 18603.
    Rebates I used.
    College
    Motozuma
    compatative
    200 down 149 a month.
    NJ has some stupid fees that you cant get around.
  • cali92cali92 Posts: 12
    Good deal in NJ, can I ask what dealer, Im starting my search next week .
  • sebzx79sebzx79 Posts: 26
    Hyundai of turnersville.
  • How do you access hyundai circle?
  • sebzx79sebzx79 Posts: 26
    If u need a code email me at srybicki at comcast dot net
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