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Hyundai Elantra Lease Questions

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Comments

  • dylrexdylrex Posts: 59
    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: 59
    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
  • Hyundai Elantra GT, manual with tech and style package (and floor mats)

    MSRP: $24,415
    Capitalized cost: 21,087.46
    Selling price: 22,050
    Money factor: .00113
    Residual value: 62% (15137.30)
    Down payment: $1200
    Monthly payment: $222.71 (includes tax)

    Am I getting a good deal or are they yanking my chain?

    Thanks!
  • debf1debf1 Posts: 2
    Read the previous post on leasing and have a question!

    Negotiated hard yesterday for Elantra GT Manual with Touch and Go for $18,400 base model. But for a lease, they insist on increasing the cost of $19,800, with down of $2500, $500 discount, payments of $222 with tax for 3 years, residual $12,400 (not sure what Money Factor # is). Seems like this is not such a great deal. But they claim no negotiating on all this. Any advice for a newbie would be appreciated. Tempted to go ahead and purchase, which with a $7500 down would be $219.

    The current lease "deal" in Bay Area on GT is $179 for 24 months--this seemed to have changed since yesterday when they told me $189 for 36 months. But in the color I want, only one available has the Touch & Go, and with that they are increasing payment substantially to $220 (before tax and $500).
  • One of the dealers I talked about my 2013 elantra lease asked me to send him a scanned copy of my insurance and d. license so he can complete the paperwork. Is this a standard practice? Any suggestion or experiences with this? We were talking about the delivery to my house and he said it would be free and asked if we could wrap up the deal. His offer was:

    $219 + tax 6% with $600 down - 24 month 15000 mile 2013 black/beige w preferred package.

    How would contract signing even work on distance, any experiences, suggestions?

    Thanks.
  • cali92cali92 Posts: 12
    Hi,
    I got my Elantra and thought I'd share my numbers. My head was spinning so much with these numbers, I did the best I could at negotiating, not as good as others here but I only got 1 rebate, here goes
    GLS with preferred package

    MSRP 19750
    Sale price 18825
    Fees are: bank fee/acq fee 595
    Doc fees 540
    1st month payment 199
    NJ tax 7%
    I used competitive rebate 500
    I gave them 400 out of pocket and payments are 199 for 24 months
    12000 miles a year/money factor .00074/76%residual
  • Tried, got a mailer daemon. Any other emails?
  • sebzx79sebzx79 Posts: 26
    edited March 2013
    Try again I got emails from other members just fine.
    srybicki at comcast dot net
    if that does not work same but gmail but I dont check that one often.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi cali92. Hyundai Finance's March buy rate lease money factor and residual value for a 36-month lease of a 2013 Elantra GLS with 15,000 miles per year are .00098 and 61% for consumers who qualify for its top credit tier.

    Hyundai is not offering 24-month leases on this car right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • dylrexdylrex Posts: 59
    Car_man... Are you sure they aren't offering 24-month leases??

    https://www.hyundaiusa.com/vehicles/2013/elantra/comparison.aspx?
  • sebzx79sebzx79 Posts: 26
    They do and its 76% res with a .00074 money factor on a 12k 24 month lease with top credit.
  • dylrexdylrex Posts: 59
    I was already excited about the deal I got on my Elantra and it just got even better. I went to the mailbox a couple of days ago and inside was an envelope from the dealership. Inside that envelope was a $500 check for the Auto Show cash that was available. I couldn't believe it. I thought they used any and all incentives to work the deal that I received. What a pleasant surprise!
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