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Hyundai Santa Fe Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi lcdos. Balloon notes are very similar to leases. They aren't used nearly as often though, usually just in states like Texas where the sales tax laws make them more attractive than leases. It is true that Hyundai Finance's cash incentive for Santa Fe leases and balloon notes is $2,000, while its normal customer cash is only $1,000, but if you weren't planning on leasing (or balloon noting ;) ) don't let this additional cash push you to do so. Make sure that you find out exactly how much it would cost you to purchase your truck right away if you go with the balloon note option before going in that direction. It may end up being more expensive to break your balloon note early than it would have been to just finance or pay cash for your Santa Fe in the first place.

    Car_man
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  • hoyasaxa1hoyasaxa1 Member Posts: 2
    Emailed 5 dealers last night requesting their best offer for a 2007 Santa Fe Limited FWD with Premium or Ultimate Packages. Below are the first two responses. My question is how much negotiating room is there on these two offers, how much lower can I expect to get these down? Any thoughts would be very much appreciated.

    Thanks.

    1. Ok This quote is for a Santa Fe Limited with the Ultimate package. 36 month lease with 2,500 due at signing.
    2. The vehicle is available now.
    3. MSRP 30,260.00
    4. Your price is 29,000 less a total cap reducation of 3,738 (your discount + acc fee + rebate of 2,000) = 26,355.32
    5. 29,000 +acc fee 595 - down 2500 = 27,095
    6. Lease term 36 with 12,000
    7. money factor = .00288
    8. Residual = 48%
    9. Monthly no tax 446.36

    1. 2007 Hyundai Santa Fe Limited with Premium Package with beige interior 2. Vehicle is ready for delivery tonight before 9:00 p.m.
    3. 27,860.00 - MSRP
    4. 26500-2000 origination support + 595 acq fee + 498 administrative fee - down payment 2500 5. 36 months 12K miles per year (if you would like a longer term it is
    available)
    6. .00288 assuming a+ credit rating
    7. 13,372.80
    8. 397 dollars
  • wooohaaawooohaaa Member Posts: 33
    Hello carman...

    How much should the selling price be on the following deal?

    2007 Santa Fe GLS AUTO FWD with XM (bare bones GLS)
    floor mats

    MSRP 23110 including destination
    Edmunds invoice 22224
    Residual 59% (24 month/12K miles)
    Money factor .00039
    $500 down.

    I believe there is $2000 in rebates from hyundai for leasing.

    acc fee $495 and dealer fees of $250
    tax rate is 7.5%

    How much do you think I clould get the selling price down to? And what would the monthly payment be?

    Thanks!
  • aephemeaepheme Member Posts: 48
    hoyasaxa1, Any further progress with this deal?

    Does anyone know if there are any incentives / rates change for the month of July?

    Is the .00288, 48% deal valid for Zero Down? Is the $1000 acq fee + admin fee a requirement?

    Looks like the best deal out there would be:

    Invoice - $1000 (reported market discount) - $2000 (customer cash)?
  • hoyasaxa1hoyasaxa1 Member Posts: 2
    Went back and forth with a couple dealers. Got the sale price down to invoice $26,100 less the $2,000 rebate. Going to close tonight and will work on eliminating the acq and admin fees (approx $1,000). I will provide an update when we receive the vehicle.
  • mikejones1mikejones1 Member Posts: 21
    What do you think of the following lease deal? Do you think there is money left on the table? I told the dealer I wanted 299 month including tax and I would put max 500 down.

    So... here is what he came back with...

    2007 Santa Fe GLS (FWD, Auto, Floor mats)
    24month\12K

    MSRP: 23,110 (includes destination)
    Edmunds invoice: 22,224
    Residual: 59% (13,635)
    Money Factor: .00039
    Selling Price: 20450 (Includes acq fee and doc fee. I got this number from leaseguide.com after punching in the MSRP, down payment, residual, money factor, tax rate, lease term then played around to get the monthly payment to be 299 including tax.)
    Down Payment: 450
    Tax 7.5%

    299 month including taxes. Also will pay first month of 299 so left with 23 payments of 299.

    Do the numbers look correct? Was I correct in calculating the selling price the way I did?

    Thanks

    Mike
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi wooohaaa. I am not personally all that familiar with what the market is like for the Hyundai Santa Fe in your area right now, but I would not be surprised if you were able to negotiate this vehicle's selling price down to $500 over invoice and then have the $2,000 lease cash that is available on it subtracted from that.

    According to my calculations, if you were to lease a 2007 Hyundai Santa Fe GLS 2WD that has an MSRP of $23,110 and a selling price of $20,724 through Hyundai's captive finance company right now for 24 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $319.

    Good luck in your quest for a new Santa Fe and make sure to stop back and let us know how everything turns out. In fact, you can share your thoughts on the dealer that you end up buying from by looking up the dealer in the following section of Edmunds.com and writing a review of your sales experience: Edmunds.com Dealer Ratings & Reviews.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi hoyasaxa1. Dealer invoice minus the $2,000 lease cash is a very attractive selling price for a Hyundai Santa Fe. Thanks for taking the time to share the details of your deal with everyone. If you'd like, you can share the details of your sales experience with an even wider audience by visiting the Edmunds.com Dealer Ratings & Reviews section of this site.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Mike. The selling price that you came up with for the Santa Fe that you want looks great to me. It is essentially $225 over invoice minus the $2,000 lease cash. If you like the Santa Fe, I personally don't see any reason not to pull the trigger on this deal.

    Car_man
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  • pjamesepjamese Member Posts: 15
    Just wanted to share the deal I got in Southern CA at the end of June, but incentives are still the same today. This is for a 48mo lease with 15,000 miles per year.

    MSRP-$24,610
    Adjusted Cap Cost-$20,278.18
    Residual-$9,351.80
    MF- .00288
    Out The Door- $825
    Payment is $339.77 including the 7.75% tax
  • charlesycharlesy Member Posts: 1
    We're about to lease a '07 GLS FWD, base model (floor mats only) with the following terms:

    24 months
    12,000 miles/yr
    $400 Drive off (includes 1st mo. payment)
    $330 per month (price includes 7.75% tax)
    $400 Disposition Fee at lease termination if we elect to return the Santa Fe

    The dealership is located in Anaheim, CA.

    Thanks for your input!!!
  • pjamesepjamese Member Posts: 15
    Nice drive off amount. I would just make sure that the adjusted cap cost (true selling price) of the car is at least $4k off MSRP. I actually got $4,332 off MSRP as my adj. cap cost.
  • stingray7868stingray7868 Member Posts: 5
    is this lease cash back (2,000) still in effect? Is this a national offer or regional?
  • cjkbme2wcjkbme2w Member Posts: 82
    Has anyone had a good Hyundai Lease experience in Delaware-Philly-Baltimore area?

    This will be my first time leasing and I could use all the help I can get.

    Where can I lease comparison shop?
  • xsoccerguyxsoccerguy Member Posts: 2
    I am looking for some assistance on a purchase of a new 2007 Santa Fe Limited AWD with option 26. I have received the following:

    MSRP Dealer Invoice
    $27,945.00 $26,239.00

    Destination Charge $670.00 $670.00
    Optional Equipment $950.00 $865.00

    SubTotal $29,565.00 $27,774.00

    Hyundai Rebate $1,000
    Hyundai Financing 3.9% 60 months or $1,000 Off

    One dealer will double the rebate, but that is the extent of the discounting. Any thoughts?

    I am new car shopping in Minnesota.

    Two last questions, one dealer has a loaner model (exact car I am looking for)with 5,000 miles on it; any thoughts on how much they should discount it; also would you normally still get the rebates in addiiton to the discount?

    Thanks for any assistance you can provide.
  • hooopshooops Member Posts: 64
    Hi Car_man,

    Can you please post the 2009 Santa Fe Limited Lease Numbers for a 36 month, 15kmi/yr lease,

    Thanks - Dan
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Dan. Hyundai is not currently providing lease support on the Santa Fe. As a result, leasing one does not make much sense right now.

    Car_man
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  • hooopshooops Member Posts: 64
    Thanks Car_man. With the Santa Fe out, could you please list the lease numbers for a Kia Borrego EX 4WD 3.8 and 4.6 - lease term of 24 & 36 months with 15 k mi/yr.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, hoops. Here's that info. Kia's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Borrego EX V6 4WD with 15,000 miles per year are .00131 and 37%, respectively. Kia is not currently offering 24 month leases on this model.

    Car_man
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  • quad1quad1 Member Posts: 9
    Can someone show me how to figure out a lease payment for a 2010 Santa Fe AWD Limited? MSRP is $31,330. Do you go by that or by the price you get them down too? I was trying to use a lease calculator online, but I don't know what the residual value and money factor are. Does anyone know these numbers? I'm in Western Pa.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi quad1. The following article gives a detailed explanation of how to calculate a lease payment: Calculate Your Own Lease Payment.

    You need both the MSRP and the selling price of the vehicle that you want in order to come up with a payment.

    Hyundai is not currently providing any lease support on the Santa Fe. You might still be able to lease one through Hyundai Finance, but you would have to use its standard lease program...which in all likelihood is not that great. If you really want to lease, you probably would be better off going with a different model.

    Car_man
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  • quad1quad1 Member Posts: 9
    Thank you, that explains it better than some sites!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, quad1. I'm glad that I was able to help you out.

    Car_man
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  • fdavies007fdavies007 Member Posts: 2
    Does anyone have the current residuals and money factor on all three models - GLS, SE & Limited with automatic transmission for a 3yr, 15,000 mile per year lease?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, fdavies007.

    Actually it turns out that Hyundai is not currently providing any lease support on either then 2010 or the 2011 Santa Fe.

    If you really want one, you will have to finance it through an independent bank and take advantage of the $1,000 customer cash that is available on them.

    or

    Finance a 2010 model through Hyundai Finance at 0% for 4 years, 0.9% for 5 years, or 2.9% for 6 years.

    Car_man
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  • karchkarch Member Posts: 45
    Any updates on lease residual and mf's for Hyundai Santa Fe? Looking for 3yr/36K.

    Thank you.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi karch. According to the latest information that I have seen, Hyudai Finance's current buy rate lease money factor and residual value value for a 36 month leaser of a 2011 Santa Fe GLS 4-cylinder AWD with 12,000 miles per year are .00132 and 56%, respectively.

    Car_man
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  • joesaojoesao Member Posts: 19
    Car_man, I'm also looking at this car. Do you happen to have the same data for a 2011 Santa Fe SE 3.5L 6-cylinder FWD (invoice of $24,840 or $27,797 including premium package) -- 36 mo lease, 12k miles?

    Thank you.
  • karchkarch Member Posts: 45
    Thank you very much.

    I'm still trying to find a new SUV for the wife. One that she wants, at the price she wants ;)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi joesao. Hyundai Finance's March buy rate lease money factor and residual value for a 36 month lease of a 2011 Santa Fe SE V6 FWD with 12,000 miles per year are .00154 and 56%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome karch.

    Car_man
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  • joesaojoesao Member Posts: 19
    Great, thanks so much Car_man.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome joesao.

    Car_man
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  • andy2812andy2812 Member Posts: 73
    Hi Car Man,

    Can you please let me know what the residual and money factor is on the Sante Fe GLS V6 with AWD for a 36 month lease and 12k miles per year?

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to andy2812.

    Hyundai Finance's June buy rate lease money factor and residual value for a 36 month lease of a 2011 Santa Fe GLS V6 AWD with 12,000 miles per year are .00150 and 59%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • andy2812andy2812 Member Posts: 73
    Hi Car_man

    Thanks for your response, it's greatly appreciated.

    Do you mind double checking you numbers on this as I was at a dealer yesterday before I saw your reply and they told me that the factors for a 2011 Santa Fe GLS V6 AWD with 12,000 miles per year was .00154 and 57%, not the .00150 and 59% that you said.

    Assuming that your numbers are correct, is it possible that the dealer didn't have the updated rates and was using the May rates since I don't believe that they can change the residual percent set by the leasing company.

    Also, are Hyundai dealers known to mark up the money factor?

    Thanks again for your help.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi andy2812. I'm pretty sure that the numbers that I posted previously are correct. I'm not sure why the dealer would have anything different than that. Hyundai dealers are not notorious for marking rates up and I don't think that they can alter your vehicle's residual value.

    Car_man
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  • andy2812andy2812 Member Posts: 73
    Car_man,

    Thanks again for getting back to me.
  • alcapalcap Member Posts: 82
    Car Man,

    I am new here and was planning to lease 2011 Santa Fe SE AWD. Would you know what the money factor and residual is in NJ. Also I would be putting some negitive equity into the lease, how will every 1000 increase my payment by? And also is there any tax savings trading in a car I still owe money on?

    Thank you Car Man
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, andy2812.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome alcap. Hyundai Finance's June buy rate lease money factor and residual value for a 36 month lease of a 2011 Santa Fe SE AWD with 15,000 miles per year are .00125 and 50%, respectively for consumers who qualify for its top credit tier.

    I don't think that there is any tax advantage to trading in a vehicle that you are upside down on.

    I would be happy to work up a payment on this truck for you, taking the negative equity into account, if you provide me with its full MSRP and approximate selling price, or at least its MSRP and dealer invoice price. You can find this data over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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  • ready2leaseready2lease Member Posts: 2
    Hi,

    I'm looking to lease a 2011 Santa Fe Limited. The rates and residuals I've seen expire today (July 5). Does anyone know what they'll be for the rest of the month?

    Thanks in advance!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings to the appropriately named ready2lease. Hyundai Finance's new July buy rate lease money factor and residual value for a 36 month lease of a 2011 Santa Fe Limited 4-cylinder with 15,000 miles per year are .00125 and 49%, respectively for consumers who qualify for its top two credit tiers.

    When negotiating your deal on this truck, make sure to take advantage of the $1,500 cash incentive that is currently available on leases of it through Hyundai Finance.

    Car_man
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  • ready2leaseready2lease Member Posts: 2
    Thank you so much, Car man--those were the numbers I was looking for!
  • j_smith1j_smith1 Member Posts: 60
    Car_man,

    Do you have the July money factor and residual for Limited AWD 3 years 36k?

    Does the 1500 incentive apply to the limited as well? Any other incentives out there?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome ready2lease.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi j_smith1. Hyundai Finance's July buy rate lease money factor and residual value for a 36 month lease of a 2011 Santa Fe Limited AWD with 12,000 miles per year are .00125 and 52%, respectively for consumers who qualify for its top credit tier.

    Yes, the $1,500 cash incentive is available on leases of Limited models as well.

    Car_man
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  • coltrane1coltrane1 Member Posts: 10
    I have 3 questions and needing advice:
    1- anyone know when the 2012 Santa Fe is going to available- and is it worth waiting for?
    2- what is Money Factor for leasing a 2011 Santa Fe GLS- with Leather
    3- what is a good lease price? I am being offered: $1700 down, 390/month 36 mos/12k per yr. MF is .00165 and 52%
    This doesnt sound good- any help is appreciated.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi coltrane1. I think that the 2012 Hyundai Santa Fe is scheduled to begin arriving at dealers this month, but I'm not sure about what the differences between the 2011 and 2012 models are.

    Hyundai Finance's August buy rate lease money factor and residual value for a 36 month lease of a 2011 Santa Fe GLS 4-cylinder AWD with 12,000 miles per year are .00125 and 52%, respectively for consumers who qualify for its top credit tier.

    I'd be happy to evaluate this lease for you, but it would be much easier for me to do so if you were able to provide me with this vehicle's MSRP and selling price first. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without these two numbers it is more difficult to tell how large a dealer discount you are being given and in turn if there is any room left to negotiate.

    Car_man
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  • coltrane1coltrane1 Member Posts: 10
    Thx Car Man- going therethis evening!!
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