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Hyundai Elantra Lease Questions

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  • 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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    Prices Paid: Buying & Leasing Experiences Forum
  • 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
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    Prices Paid: Buying & Leasing Experiences Forum
  • dylrexdylrex Posts: 58
    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: 58
    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.
  • doc_vdoc_v Posts: 11
    Just a heads up for anyone who's interested. The offer I've been given on a GLS with auto and Preferred Pkg. was a MF of .00082 and residual value of 63%. Sale price is $17,179.
  • dylrexdylrex Posts: 58
    What's the sticker price and how many miles per year? Also, does the sales price include any dealer cash?
  • Hello dylrex. Hyundai Finance's January buy rate lease money factor and residual value for a 36-month lease of a 2013 Elantra Sedan GLS with an automatic transmission and 15,000 miles per year are .00081 and 61% for consumers who qualify for its top credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Doc_V. It's strange that the residual value would be any different than what Hyundai Finance has published. Dealers really do not have the ability to alter banks' residuals.

    Your credit score should not have any impact upon the residual value, just the money factor.

    The residual value for a 36-month lease of a 2013 Elantra GLS with Auto and 12,000 miles per year should be 63%. If your vehicle's residual value is significantly different than this make sure to ask the dealer why that is the case.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • doc_vdoc_v Posts: 11
    The MSRP was $19,650 and 12,000 miles per year. The selling price did include a $775 destination charge.
  • doc_vdoc_v Posts: 11
    I'm considering a 2013 Limited and was curious what the MF and Residual Value are for a 3 year lease with 12k miles per year and an MSRP of $22,020.
  • subdrvrsubdrvr Posts: 4
    edited January 2013
    Hi Car Man,

    I would appreciate it if you could provide me with
    money factor and residual for 13' Elantra GT with touch and Go package (MSRP-$21340) and with Style Package (MSRP-$23140). 12,000 miles-36 months. I'm in the Detroit area.

    Thanks in advance.
  • Hi doc_v. Hyundai Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2013 Elanra Limited with 12,000 miles per year are .00085 and 60% for consumers who qualify for its top credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hello subdrvr. Hyundai Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2013 Elantra GT with an automatic transmission and 12,000 miles per year are .00103 and 62% for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • dylrexdylrex Posts: 58
    Hi Car_man.

    Can you please provide me with Hyundai Finance's current buy rate lease money factor and residual value for a 24 and 36-month lease of a 2013 Elantra GLS with 15,000 miles per year?
    Also, is there any dealer cash available?

    Thank you!

    Tim
  • Hi Tim. Hyundai Finance's February buy rate lease money factor and residual value for a 36-month lease of a 2013 Elantra GLS with an automatic transmission and 15,000 miles per year are .00081 and 61% for consumers who qualify for its top credit tier.

    I don't think that Hyundai is currently offering 24-month leases. There isn't any dealer cash that I am aware of on this model either.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Does anyone know what the credit score is required for receiving Hyundai's top credit tier? What is the difference between the top tier and second tier in regards to the lease rate?
  • Good question jenm77. Hyundai Finance's best available lease money factors are usually available to consumers who qualify for its Tier 1 and Tier 2 credit tiers, consumers who have credit scores of 700+.

    The money factor increase is pretty steep for Tiers 3 and 4, +.00100.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • dylrexdylrex Posts: 58
    Hi Car_man.

    Thank you for providing me with the 36 month numbers. I'd like to compare them to the 24 month. Could you please provide Hyundai Finance's February buy rate lease money factor and residual value for a 24-month lease of a 2013 Elantra GLS with an automatic transmission and 15,000 miles per year?
    Thank you.

    Tim
  • dylrexdylrex Posts: 58
    edited March 2013
    I thought I'd share the deal I closed last night on a '13 Hyundai Elantra GLS w/Preferred Pkg. I think this is a pretty good deal.

    MSRP: $19,695
    Cap cost: $17,420 (including acq. fee)
    Money factor: .00074
    Residual: .76% ($14,968.20)
    Term: 24 months
    Payment pretax: $126.13
    Total monthly payment w/6% tax: $133.70
  • cali92cali92 Posts: 12
    That sounds like a great deal, I have been considering a Elantra. Did you put a down payment or any out of pocket costs?
    Thanks
  • cali92cali92 Posts: 12
    Also, is that an automatic?
    Thanks
  • cali92cali92 Posts: 12
    Hi Car man,
    I am considering the GLS/preferred package automatic. What is money factor and residual for March for top tier credit? I would like 24 or 36 months. I am in NJ. Any other input would be great, like a target price.
    Thanks
  • dylrexdylrex Posts: 58
    There was $723.70 required at signing but I was able to use my $500 loyalty rebate and only wrote a check for $223.70. Yes, it is an automatic.
  • bunkscbunksc Posts: 10
    Hi there. Would you mind sharing the name and location of the dealer you got this fantastic deal from? Thank you.
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