Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!

Hyundai Sonata Lease Questions

191012141526

Comments

  • hb_jphb_jp Member Posts: 4
    shukim

    What state are you located in? I'm in southern California. Looking for SE 2.0T base. I'm having trouble getting to that number with the dealers here. So far I've got a selling price of $23,200 + acq fee which would be $680 CA dmv & 1st mo's payment and pymt around $282. I don't qualify for the loyalty, military or college rebates.

    thanks!
  • ahashmi1988ahashmi1988 Member Posts: 7
    What state are you? and what dealer?
  • fred144fred144 Member Posts: 22
    I'm in PA and I only go to Fred Beans in Doylestown, PA. I got the Limited Turbo. It was a better lease deal. Originally was just getting Limited 2.4. They had the exact car in Venetian Red w/ tan leather in Turbo and it had a 2% better residual. I actually leased it for less. MSRP $28365 $15931.50 (57% residual) on $27950 with mats, ipod cable, cargo net. Also added bumper applique, wheel locks, mud guards, paint and fabric sealant, and a tire and wheel road hazard warranty. I got $500 owner loyalty. I traded a 2000 Pontiac Sunfire w/ 85k for $3000 (it was worth $1500). Iam leasing 3yrs 12K yr for $208.99 w/ tax (9% on lease in PA). This is everything inc. registration. This is our 10th car from them since 12/01. (8 Hyundais and 2 Nissans). The Limited has a softer ride and anicer interior w/ heated leather seats and a sunroof a better radio w/ 6cd changer.
  • nychojinnychojin Member Posts: 1
    I'm actually trying to figure out the math myself...I'm also looking at the Sonata 2.0T with navigation (no other extras), but I want to roll the down payment into the lease payments (with no trade-in). Any ideas on what my payments should look like?
  • spinejackspinejack Member Posts: 1
    What are march 2011 money factor and residuals for 3 year 36000 mile lease on sonata turbo limited
  • genesismikegenesismike Member Posts: 2
    May I ask what State you live and dealer you used.
    Thanks
  • genesismikegenesismike Member Posts: 2
    Fred144

    What dealer did you use
  • jdb44jdb44 Member Posts: 2
    Good or bad deal?

    2011 Sonata SE w/ Sunroof and Navigation package. $3500 trade + $500. 36 mth 15k. Oil change package. Cables, mats, nets included. Final payment 299/mth.

    Any feedback is appreciated. Thanks, JBua
  • ineedmoneyineedmoney Member Posts: 8
    Does anyone know the money factor and residual values for the month of March on a Sonata Limited Turbo in California?

    I'm trying to get a lease for less then $330 /mo with 36 mo 15k /yr with no more then $1000 to cover fees. I qualify for the $500 customer loyalty rebate but does this sound reasonable or am I asking too much?
  • fred144fred144 Member Posts: 22
    I think it's a little high $259 sounds more like it.
  • fred144fred144 Member Posts: 22
    You probably need another $1500 down.
  • joshcs1joshcs1 Member Posts: 9
    When I go to lease, should I go for lowest monthly or lowest total cost first?
  • ineedmoneyineedmoney Member Posts: 8
    From what I've read, it's best to negotiate the price of the vehicle first. Then work on your payment from there
  • jdb44jdb44 Member Posts: 2
    Should have brought you with me. Should I feel hosed?
  • fred144fred144 Member Posts: 22
    See what they want a month and then tell them what you are willing to pay.
    Example: if you get a price with tax at $300 a month, tell them you want it for $250 (w/ tax included) and see where you go from there. I originally went in for a limited non turbo and when we decided on color they had it in a turbo and it was supposed to be $10 more a month. The residual was 2% better and after adding wheel locks, mudguards, bumper applique, tire/road hazard warranty, and paint and leather sealant, my payment was $20 less a month.
  • hb_jphb_jp Member Posts: 4
    Just leased a 2.0 T in Pacific Blue no Nav. $23740 gross cap cost. The dealer ate some of the DMV fees so the deal ended up being $600 drive including 1st mo's pymnt of $279. I didn't qualify for any rebates and didn't trade anything in. I'm happy to be done shopping and now driving!
  • tetovaritetovari Member Posts: 22
    Congrats . Sounds like a good deal. How many miles a year ?
  • hb_jphb_jp Member Posts: 4
    Thanks! It's not bad, selling price was $23,100 and it's a 3yr/12k mi lease. It's a beautiful car for the money.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yes, edgar, it is true that banks set vehicles' residual values and dealers aren't really able to alter them. The percentages are of vehicles' full MSRPs, including the destination charge and the MSRPs of any options.

    Vehicles' base money factors are set by banks but dealers are sometimes allowed to mark them up to add additional back-end profit to deals.

    Negotiate as low a selling price as possible on the car that you want and then have the dealer calculate your monthly payment using its buy rate lease money factor.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey edgar. I have not seen anything on a lease program for the Sonata Hybrid yet.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi spinejack. Hyundai Finance's March buy rate lease money factor and residual value for a 36 month lease of a 2011 Sonata Turbo Limited with 12,000 miles per year are .00031 and 57%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • edgar_in_vegasedgar_in_vegas Member Posts: 10
    Thanks Car_man!
  • edgar_in_vegasedgar_in_vegas Member Posts: 10
    Sadly, I couldn't wait any longer for the Sonata Hybrid. We ended up getting a Camry Hybrid with Moonroof/Navi package (includes leather, bluetooth, fog lights, etc.), plus floor mats and rear spoiler. 36 month lease with 15,000 miles/year. Residual is 18,022. MSRP is 33,683 and we negotiated a cap cost of approx. 30,800ish. The lease money factor is .00001 (very good, yes?). With $3957 down our monthly is $316.00. Pretty good??
  • paulja1paulja1 Member Posts: 1
    Considering lease of 2011 Sonata Limited with mats, net, wheel locks, MSRP 26495. Hyundai dealer said lease terms for 36 mos., 15k miles would be MF=.00072 and residual 0.53. Wondering if that's right for Washington DC area and also what sort of fees (gap, acquisition) I should expect to be included in lease payments. I negotiated a sale price of about 23250, quoted payments of 322, seems a bit high. Help?
  • fred144fred144 Member Posts: 22
    I think you can get it under $300 w/ tax acquisition fee which should include gap. The residual should probably be closer to 55%. My deal on a limited turbo was better than that in PA. Check out the internet.
  • johnysc430johnysc430 Member Posts: 3
    I'm looking for a turbo, no navi nothing special. I would like to be about 250-270 a month I have about 1k for out of pocket. Anyone know any dealers in the tri-state area giving good numbers on this lease? I'm in NY
  • sally8563sally8563 Member Posts: 10
    I live in Connecticut and went to the Meriden Hyundai
    2.0T
    15K/year
    1000 downpayment inc. first month, registration and other

    $278/month

    I went to 3 different dealerships, and this was the final and the best quote.
  • rcgellerrcgeller Member Posts: 66
    2011 Sonata 2.0T
    Wheel Locks
    Bumper Guard
    Trunk Tray
    All Weather Floor Mats
    First Years Oil Changes and Tire Rotations Free
    Rim and Tire Coverage Bumper to Bumper (flat tire, scratch rim, etc... even if its your fault, it gets replaced at no cost, no deductible, no copay-->Usually ~ $15 extra/mo but I am including it in my final number for those who really want to compare)

    MSRP: $25,570
    Down Payment $0.00
    36months
    15,000 miles/year

    Monthly Payment: $288.50
  • fred144fred144 Member Posts: 22
    I get all my cars a Fred Beans in Doylestown PA They are the best on price. I leased 2011 limited turbo. I went in for a limited non turbo and ended up getting turbo for $20 less month. The residual went from 55% to 57% on the turbo. I got $500 owner loyalty and they gave me a lot for my trade. I have the car 5 weeks today. MSRP was $28365 no navigation (my wife doesn't know how to use cruise control).
  • patsoxfanpatsoxfan Member Posts: 4
    edited March 2011
    Let me know what you all think
    Limited no turbo no nav.
    msrp 26200
    price 23480
    owner loyalty -500
    money factor is .00031
    resid is 55%
    595 ac fee included

    so now I have 3 ways
    2000k down
    250 month

    299 down
    299 month

    or turn my 2006 sonata 60 k in for 7000
    so it gives me
    2500 down
    234 month
  • shaggy1923shaggy1923 Member Posts: 3
    Silver GLS with PEP. 12k at 36 mths. $229 per month including 7% tax with 301 due at signing.

    MSRP 21850
    saleprice 19445
    acq fee 595
    adjusted cap $20579
    residual 57% $12454
    money F 0.0001
    7% sales tax
    $301 due at signing

    $229 month
  • rcgellerrcgeller Member Posts: 66
    edited March 2011
    Figure it this way so we can compare the GLS to the Turbo, this calculation eliminates the idea of special incentives.....

    My lease:

    MSRP: $25,570
    Down: $0
    Payments: $288.50
    36months
    15K miles

    $288.50*36=$10,386 total payments
    $10,386/$25,570 (MSRP)=0.4061 (lower the number the better)

    Your scenario:

    MSRP: $21850
    Down: $301
    Payments:$229
    36monts
    12K miles

    $229+$15=$244 (brings you from 12K year to 15K a year-estimated)
    $244*36=$8784
    $8784+$301 (down payment)=$9085
    $9085/$21850=0.4157

    Still a good deal, in my experiences, anything below 0.43 (43%) is generally a good deal, anything above that, not so much, and if you are above 45%, you got porked.
  • rcgellerrcgeller Member Posts: 66
    Option 3 yields the best result, esp since the 06 Sonata will continue to depreciate over time. However, neither of your scenarios are good, see my last post and you can see you are over the 45%. Must use the MSRP not the agreed sales price because you are leasing, MSRP is nearly negligible, only helps for your residual.

    Its simply a pure numbers formula.
  • shaggy1923shaggy1923 Member Posts: 3
    thanks for the info. one question. My $301 down included the 1st payment, so wouldn't that be even better? shouldn't it be 35 payments times $244?
  • rcgellerrcgeller Member Posts: 66
    Yes, you are correct. I apologize for missing that....that actually makes your deal slightly better than mine!

    Your calculation comes to 0.4046.

    Buy that car and enjoy it...or step up to the Turbo and have some fun like us YF owners :)
  • zizo2zizo2 Member Posts: 11
    Hi all, i am looking for a 2011 Sonata, SE, with nav. I am in Southern California, got this quote, is it any good? seems on the high side to me, what do u guys think?

    "With $2000 down, your monthly payment would be $306.20 (this includes tax). The net cap cost is $24436. The residual is 56% and the money factor is .00031"
  • rcgellerrcgeller Member Posts: 66
    That quote is probably the worst I have seen in a while...

    I pay less than that a month with nothing down and I have a Sonata YF Turbo, no Nav though, but my car MSRP is higher.

    Tell the dealer to forget about it, with $2000 down you should be closer to $220-$250 range depending on your credit tier.

    Your calculation using my methods above rings in at...

    ($306.20*36)+$2000=$13,023.2 and that is with only 12K miles I am assuming and no other features
    $13,023.2/$24436=.5329!!!! =~53%

    That is just ridiculous...think about this:

    You are paying into the car 53% and your quoted residual is 56%

    53%+56%=109%
  • zizo2zizo2 Member Posts: 11
    Hi rcgeller,
    well thanks for your reply, i am new to car buying and haggling.
    Now remember those quotes are for Southern CA, i dont know where you live. I got on truecar.com and the lowest i got is 24,311.
    I know i should push for more, but i dont really know what to say.
    any help is appreciated.
  • socal1985socal1985 Member Posts: 1
    Hey guys I'm new to this forum and wanted to see what you thought of the quote I received on a Sonata Turbo SE with Navigation in San Diego.

    Sell Price: 26,666
    $0 Cash out of pocket
    $3500 Trade in equity
    $400 College graduate rebate (must be within 6 months of graduation or up to 24 months after graduation from an accredited 2 or 4 year college )

    The $3,900 is dispersed as follows:
    $2,910 Capitalized cost reduction (cash down)
    $ 683 Taxes
    $ 307 DMV

    36 months 12,000 miles

    Payment $249 tax included
  • niteflite888niteflite888 Member Posts: 30
    edited March 2011
    Friends, i see an ad in the local paper for $199/mo on a 2011 sonata for 36 mo, 12k miles per year. It says $750 destination to be added, tax, and $100 processing fee. This is although the hyundai site is advertising $2399 down, $199/mo on the gls. Is this possible? is this likely to have many catches?
  • rcgellerrcgeller Member Posts: 66
    Zizo,

    I am in Boston. I checked Hyundai's website and the lease/finance options are actually identical. I also do not know you creditworthiness. That could have a lot to do with your tier and can range the prices by as much as $75/month.

    First- I would suggest finding this out for yourself. This way if they say you are tier 3 and you know you can qualify for higher, you can throw it back at them.

    Second- You should play the card of your friends or family in another area just got that car with different options (that is key) so they cannot look up the same cars for x price. Something either a little higher or lower than where you want to be relative to the value of the car.

    Third- Do you qualify for any of the separate incentive offers? New college graduate? Work for the government? There are a slew of special offers. My gf works for CVS and she gets 10% any new GM car, check those

    Forth- Do the math for yourself, and then do not use numbers in a dealership. If you begin to use numbers, they will do, and that is their job, they will run circles around you.

    Fifth- Get a bank rate. Find out what the rate on a bank loan for you is, and use that at the dealership. They want you to use their financing options, and they should make it worth your while to do so if they want your business

    Sixth-Remember, you can walk away anytime you want. Until you sign the dotted line CONSUMER IS KING. Read through ever bit of paperwork.

    You have seen on this forum the prices paid by some people, you should be in the ballpark somewhere there. Your number is simply drastically off. I would probably not go back to that dealer, to give you a number like they did is very hard to take.

    Hope that helps.
  • rcgellerrcgeller Member Posts: 66
    Socal,

    $249*36=$8964
    $8964+$3500 trade in=$12,464

    $12,464/$26,666=0.4674

    Not that good.

    Shoot to be under $230 and your getting closer...see above posts
  • rcgellerrcgeller Member Posts: 66
    Fine Print:

    Lease a 2011 Hyundai Sonata 2.4 GLS A/T for $199/month for 36 months, $2,399 due at lease signing ($2,200 customer cash down plus $199 for 1st month payment).

    MSRP of $21,145.00 for 2011 Sonata (model #27402) including freight. Lease payment based on capitalized cost of $19,104.50. No security deposit required. Tax, license, title, fees, options and insurance extra. Monthly payments include $595 acquisition fee.

    $199*36mo=$7164
    $7164+$2399=$9563
    $9563+tax/title/license/fees~$10,750

    $10,750/$21,145=.5083

    There is your real value, always read the fine print
  • nickisdacubenickisdacube Member Posts: 3
    Hello,

    I am in MASS... Can someone tell me what the Mar 2011 MF and Redidual factor are on a 2011 Sonata Limited 2.0T?

    Thanks so much!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem Edgar.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • niteflite888niteflite888 Member Posts: 30
    thanks for the response. yes, i see that fine print and this "promotion" on the hyundai site as well as some of the local dealer sites.

    but this particular advertisement i'm referring to was $189/month, $0 down but excluding freight, tax, tags, and processing fee. http://www.collegeparkhyundai.com/assets/misc/4332/29132.JPG

    so i called around. talked to three dealers that said they would do this deal. if it was just one dealer that said they would do the deal, i would somewhat doubt it. but since there are three, perhaps it is legit after all.
  • arunt71arunt71 Member Posts: 22
    shaggy1923

    Pls share the dealership name ? Are you in south east / Atlanta?

    This sounds like a good deal
  • zizo2zizo2 Member Posts: 11
    rcgeller,
    the 306/month quote i got is with tax included. Does that change ur calculations?
  • rcgellerrcgeller Member Posts: 66
    This is a pretty good deal from the outside looking in. But do remember, this is the absolute base model and they never let you have it that easily, and at closer glance, it really is not that good a deal. This is because the value of that car (MSRP) is extremely low. Also, a lot will depend on your credit tier if you can even qualify for this offer. Here is the calculation:

    $189*36=$6804
    $6804+tax, tags=$8500 (assuming ~6.5% tax)
    $8500+freight/dealer charge=$9350 (usually I would say this gets taken off the price of the car, but I would doubt it with this deal)

    $9350/$19395 (MSRP)=0.482 <--not that good at all
  • rcgellerrcgeller Member Posts: 66
    No it does not, if you check the calculations I did not add tax to your values. Best of luck, and try to pin dealerships against each other. If they want you to buy a car, they will come to your price.
This discussion has been closed.