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Hyundai Veracruz Lease Questions

kyfdxkyfdx Posts: 30,594
Ask your Veracruz lease questions here!

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Prices Paid, Lease Questions, SUVs

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  • jak51jak51 Posts: 17
    Interested in leasing a Veracruz limited FWD for 36 months and 12,0000 miles. What is the current money factor and residual. Also, is a 30 month lease standard for Hyundai?? If so, I will need those numbers.

    Thanks
  • fawn1fawn1 Posts: 1
    Is the acquisition fee for a 30 month, 15,000 mile, money factor .00301 lease a negotiable item or must it be paid in a leasing arrangement?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for, jak51. Hyundai Finance's current buy rate lease money factor and residual value for a 39 month lease (it is featuring 39 months leases instead of 36) of a 2007 Hyundai Veracruz Limited FWD with 12,000 miles per year are .00305 and 48%, respectively. There is also a 30 month lease that has a money factor of .00301 and a residual value of 57%. When negotiating your lease on this vehicle, make sure to take advantage of the $1,000 lease cash and $500 conquest cash that are currently available on it. The conquest cash is available to current owners of a select group of competitive models.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi fawn1. Hyundai Finance charged an acquisition fee of $595 on every vehicle that it leases. Individual dealers do not have the authority to waive this charge. You can either pay it at lease signing or roll it into your vehicle's capitalized cost to make it part of your lease payment.

    Car_man
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    Prices Paid Forum
  • jrdahljrdahl Posts: 3
    Boy, that doesn't sound competive against some of its rivals like the Mazda CX-7, at 52% and .00138 for 36 months and 15000 miles. Too bad, as I saw it today and liked it
  • randypaperandypape Posts: 7
    hello,
    i'm looking at a 2007 Veracruz GLS with premium pkg and towing pkg. i can lease it for 412.00 -415.00 a month for 30 months. the residual value i was told is 18,462.00 and i would be putting 3000.00 down. the price was $ 27,862.00

    does this all add up or come out right? please let me know by e-mailing me at rpape1@wi.rr.com or susan.pape@ge.com
  • pegasus17pegasus17 Posts: 536
    extremely high! lease on veracruz is not competitive right now - may have to wait a bit until the hype settles down. consider $15-$16 per thousand of MSRP as the total monthly lease price before taxes as a good deal...
  • pegasus17pegasus17 Posts: 536
    I am updating my own post based on new info rec'd today from a local dealer. The Veracruz GLS (msrp 27120) has a supported lease til the end of july. 24 months/12k per year - 1999 down and 349/month. Includes 1000 HMFC support and the 595 acq fee. Residual is 63% and MF is .00154 with a sell price of 25666; Perhaps the edmunds host can verify this for us???
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi pegasus17. According to the latest information that I have seen, Hyundai Finance's July buy rate lease money factor and residual value for a 24 month lease of a 2007 Hyundai Veracruz GLS 2WD with 12,000 miles per year are .00154 and 62%, respectively. There is $1,000 lease cash on this model right now. As you can see, the dealer that you are working with was being very straightforward with you. If you'd like, you can share your thoughts on your sales experience by rating this dealer in the following section of this site: Edmunds.com Dealer Ratings & Reviews.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Pls provide the details of the NEW lease program for Sept on the new 2008 Veracruz...
  • I just returned from a dealer and on the GLS base $27k package he would do $399 for a 24 month lease.
    He absorbed the $895 dealer fee and the $595 bank fee. The tag fees are in there too.
    I would just have to give $399 down for first month's payment.
    I always like to sleep on it so I will decide tomorrow.
    He said he could do the same deal for 36 and 48 months.

    Does it sound like a good deal?

    Oh, and FYI, the $299 lease promo on the mfr site is 24 months with $2499 inception (+dealer/bank/tag/tax and other fees).

    Clint
  • I believe you can do much better. Look at the deal on this site, http://www.fitzmall.com/index.asp , for comparison. BTW, while there is an acquisition fee from the finance company, HMFC, there is no such thing as a dealer fee on a lease (at least here in Ohio). FWIW, I passed on a similar lease deal in July for zero down and 410/month total on a 24 month lease. Look at post #10 for lease details and if you need help calculating a REAL payment, let me know. You should not be in a rush to do this tomorrow as it is the beginning of the month and current lease deals expire at the end of the month. Information is power...
  • Hello,

    I am in Orlando, FL and I have been given the following for leasing a 2008 Veracruz GLS 2WD with 12,000 miles per year with a money factor of .00145 and Residual value of 66%. The lease is for 24 months with a $1,500 trade in. The acquisition fee is 595.00 and they didn't add any dealer fees. The also threw in the standard maintenance, oil change, tire rotation, etc. for the duration of the lease. After taxes, tags, etc. the payment would be $404/month. Do the numbers add up? Is it a good deal?

    I'm also going to ask for more on my trade in because it is extremely low according to Edmunds. Thanks!
  • selooseloo Posts: 606
    What is the cost of the car? Not counting your trade.

    Please put it terms of below the invoice price.
  • bobw3bobw3 Posts: 2,997
    Of course just because a dealer in one part of the country is selling at a particular price, there's no reason to expect a dealer in another part of the country to sell it for the same. So you may want to determine the general market area. Plus if any trade or financing were involved, that will affect the price...just passing on some education to you ;)
  • The MSRP is $27,820...we are getting the price as $26,385...
  • selooseloo Posts: 606
    Bobw3,

    Thanks for your input.

    I see that you are still somewhat sensitive concerning this issue.

    If you have some valid input instead of very general negatively biased comments about the car market, it would be greatly appreciated.

    The savvy members that use this board are here to discuss ways to save money on a car deal, not to give extra money to the dealer. Surely you must understand this concept and want to get the best deal possible.
  • selooseloo Posts: 606
    You can do better. That looks to be above the invoice price. Unless you must buy a car today, time is on your side.
  • Thanks for your help! I started this leasing journey a few months back, so more time is not a big issue yet. :shades:
  • bobw3bobw3 Posts: 2,997
    Sort of funny how the word "savvy" is thrown around by some folks. My posts are not negative but trying to show the whole picture of car buying. Some people think they're "savvy" just because they paid below invoice only to have lost money on the trade-in, financing, add-ons, extended warranties, etc.
  • selooseloo Posts: 606
    Your pitch sounds very much like an "old school" car salesman.

    While, I cannot speak for everyone, I fully understand the real 'net' or 'dead' cost of a car, the invoice is just a good reference point for discussion.

    Trade-in - I do not trade-in with a dealer, I always sell the car myself. Usually, I get about 25% more by selling it myself. Most people on these boards know to keep that part of the transaction separate.

    Financing - Unless the dealer is offering special financing (like 0%) I pass. If your credit is good, there are numerous places to get cheap money.

    Add-ons - This is old school stuff, (can you say ziebart, fabric protection, this list goes on and on) I never pay for this stuff. Add to this list prep fees, document fees, marketing fees, etc....

    Extended Warranties - You also have to know how to make a deal on this product. In most cases this product has a 75-100% mark-up. You really have to do your homework before purchasing this product.

    Your point is well taken and I do not claim to know everything about the car business. Please enlighten us with your words of wisdom?
  • bobw3bobw3 Posts: 2,997
    Exactly...that's why I mentioned the issues beyond invoice pricing. It's good that you agree. But you can easily find the invoice price of a vehicle online. I thought for a moment that you expected dealers to come to these forums and start offering their best price.
  • The dealers should come to these forums and offer their best price. Then we would know who to stay away from and who to deal with. ;)
  • kyfdxkyfdx Posts: 30,594
    They can't do that, though... That would violate forum rules.. :)

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • I know, but it would be fun!
  • My local sales dude told me the following on a 24 month/24k mile lease:
    GLS - .00145mf; fwd 66%/ awd 67%
    SE - .00160mf; fwd 64%/ awd 65%
    Also there is $1000 origination support from HMFC. Please complete (i.e., LIMITED data) and confirm the above...THX
  • thedthed Posts: 2
    Hey...sorry if this is a newb question, but I'm wondering if I'm getting a deal.. (I have googled it and I don't know what the $1000 HFMC means...)

    I want to lease a 2008 GLS...

    $2400 down + tax + DMV = $3519
    $299 month 24/12,000 miles

    Seems like this is the basic offer, want to know how low I can go and what the $1000 HFMC means.

    Thanks for the help!
  • pegasus17pegasus17 Posts: 536
    HMFC=Hyundai Motor Finance Company is kicking in $1000 to support the deal on top of the already good money factor and residuals. Basically, take $1000 off your down payment. FYI, it is NOT a good idea to put a lot of money down on a lease. Minimum down and a higher monthly payment is better. Reason: if you get in an accident, all the down payment is gone although the car is covered by what is called gap insurance. Based on the limited posts in this thread, you can see that not too many people are interested in leasing the VC. Not sure why...good luck
  • thedthed Posts: 2
    Thank you so much for the help. This is what I've figured out after hours and hours on the internet..

    MSRP - $26,900
    Cap Cost - $24,000 (which includes the $595 Aq Fee, $1000 HFMC)
    DMV = $192.50
    Res/MF = 66%/.00145

    In NY, so I would have to pay tax on cap up front... Seems like a good deal to me... am I missing something? Their numbers don't match mine, so I'll have to look at the paperwork.

    Thanks again!
  • pegasus17pegasus17 Posts: 536
    i have a leasing spreadsheet that i use to calculate payments as i have leased 3 times in the past 10 years. if you pass me your info i can calculate your payment before taxes...missing info that i need is the purchase price (which dealers often exclude from negotiations)...also, where are you finding a bare bones VC for 26900? lowest one i have seen here in OH is 27120 and that was an 07

    Using your data and a sell price of 24979 (msrp 26900)
    zero down, pretax payment = 345.50
    2400 down, pretax payment = 242
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