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Hyundai Elantra Lease Questions

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  • rosowrosow Member Posts: 12
    edited December 2011
    Hello Car_Man!
    Can you please tell me what Hyundai Finance's December 2011 lease money factor and residual values are for a 36-month lease on a 2012 Elantra Limited (No technology Package) with 10,000/12,000 miles per year are? Do they also show 48 month lease numbers?? Also, do you know of any special dealer lease incentives for December 2011?

    Thanks in advance!!

    Lenny
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out Lenny.

    Hyundai Finance's December buy rate lease money factor and residual value for a 36-month lease of a 2012 Elantra Limited with 12,000 miles per year are .00133 and 62%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 48-month lease are .00140 and 54%.

    I'm not sure if Hyundai Finance offers leases with only 10,000 miles per year, but if it does its residual values for that allowance are likely 1% higher than its 12k resids.

    I don't believe that Hyundai is currently providing any special cash incentives on leases of this car.

    Car_man
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  • kopchikckopchikc Member Posts: 36
    Greetings Car_man,

    I have not seen any incentives or rebates posted for Hyundai in January, on the main site. What are the lease details for a 2012 Elantra Limited for 36 months @ 15,000 miles/year?

    Money Factor:
    Residual:
    Any incentives:

    Thanks for your help. I will be turning in my old lease in Feb. and want to get started working the numbers.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kopchikc. Yes, Hyundai is providing lease support on the 2012 Elantra in January.

    Hyundai Motors Finance's January buy rate lease money factor and residual value for a 36-month lease of a '12 Elantra Limited with 15,000 miles per year are .00190 and 58%, respectively for consumers who qualify for its top credit tier.

    Hyundai is currently providing a $1,000 cash incentive on leases of this car.

    Good luck and make sure to let us all know how everything turns out.

    Car_man
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  • lamstang94lamstang94 Member Posts: 9
    Where do you see the $1000 cash incentive. I called Hyundai and they didnt know about that.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I just know these things ;) . Trust me the incentives definitely exists. Did you call Hyundai's consumer line or a dealership? Manufacturers rarely provide detailed information on their lease programs to consumers.

    Car_man
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  • mrcarbuyermrcarbuyer Member Posts: 8
    Hello!

    To lease a 2012 Elantra Touring SE with the Bluetooth option installed, can you please help me find out the:

    -Residual Value
    -Money Factor

    I'm looking at a 15K miles per year.
    I'm OK with a 36 months or less term - open to suggestions!

    I have an offer for that car for $21,050, lease monthly payments for 36 month 15K at around $195. Is this a good deal?

    Any and all additional info helps!
    Thanks.
  • mrcarbuyermrcarbuyer Member Posts: 8
    Hello Car_Man,

    I'd appreciate it if you could provide me with the Lease info relevant to the Bay Area in CA.

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello mrcarbuyer. Hyundai Finance's January buy rate lease money factor and residual value for a 36-month lease of a 2012 Elantra Touring SE with 15,000 miles per year are .00152 and 51%, respectively for consumers who qualify for its top credit tier.

    What is the MSRP of the car that you are interested in? That number will enable me to see how large a dealer discount you are being given.

    Car_man
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  • lamstang94lamstang94 Member Posts: 9
    Where do you find the lease rates for Hyundai's, specifally the rates for Elantra 12000 yr 36 months. Is there a website with the rates?

    Thanks
  • mrcarbuyermrcarbuyer Member Posts: 8
    Thanks Car_man!

    I'm still getting bids for my Kia Optima LX 2007, and as soon as I sell it, I'll move into buying the Elantra Touring.

    I might ask you for the rates again in Feb :)

    Best,

    Mrcarbuyer
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi lamstang94. I am not aware of any site that consistently provides accurate information on manufacturers actual lease programs to the general public.

    Hyundai Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2012 Elantra GLS with an automatic transmission and 12,000 miles per year are .00190 and 62%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome Mrcarbuyer. Good luck in selling your Optima. The Elantra's lease program is supposed to be the same in February as it was in January, but please feel free to check back with me to make certain that is indeed the case.

    Car_man
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  • springpinspringpin Member Posts: 2
    Hello Car_man
    I am visiting dealer tomorrow. This Elantra has manual transmission, is gray and it does have the preferred package which includes the alloy wheels, bluetooth and audio controls on the steering wheel. It also comes with floor mats, auto dimming mirror with compass and homelink and cargo net. The MSRP is $17,615. They want $4,000 down and payments will be at $179

    Is this a good deal?
  • kopchikckopchikc Member Posts: 36
    Greetings Car_man,

    On the main site, it appears the incentives from Hyundai are up for February. Are there any updates to the lease details for a 2012 Elantra Limited for 36 months 15,000 miles/year? Is the $1,000 lease support still available in addition to the $500 cash?

    Money Factor:
    Residual:
    Any incentives:

    Thanks again for your help. I will post my results by the end of the month.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi springpin. $4,000 is way too much money to put down on a lease. I always advise consumers to put as little money down as possible when leasing. Consumers who make large down payments on leased vehicles risk losing part or all of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered.

    Do you know what this car's selling price is? The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number it is much more difficult to tell how large a dealer discount you are being given and in turn if there is any room left to negotiate. Let us know what the selling price is and either myself or another helpful community member will let you know what they think.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings kopchikc. Hyundai Finance's February buy rate lease money factor and residual value for a 36-month lease of a 2012 Elantra Limited with 15,000 miles per year are .00190 and 61%, respectively for consumers who qualify for its top credit tier.

    I believe that there is only a $1,000 cash incentive on leases of this car right now.

    Good luck in your negotiations and make sure to let us know how everything turns out.

    Car_man
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  • springpinspringpin Member Posts: 2
    Thanks Car Man,
    I leased 12,000 miles/36 months an A/T Hyundai Elantra GLS Red with preferred package+auto dimming mirror, etc . Sticker price was 19,320 and final price 19,000. This is the breakdown:

    -Gross Capitalized Cost: 19,595 (19,000+dealer fee of 595)
    -I put down $3500, they used $3179.24 as capitalized cost reduction and $320.76 to offset some taxes and fees: FL fee: 68.50, Electronic Filing fee:$93, Title fees: $136.10, tax: $236, finally they gave me a 'credit' of $1,000 to pay for all their fees.

    -Adjusted capitalized cost: $16, 415
    -Residual value:$11,978
    -Lease payments:177 +tax

    What do you guys think? The car is beautiful
    Dealer: Rick case hyundai in Davie, FL
  • kopchikckopchikc Member Posts: 36
    Car_man,

    I am getting quoted 58% residual for a 2012 Limited w/Tech. Does the Tech package really knock 3% off the residual? I was told the GLS had a higher residual.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Good catch, kopchikc. Sorry about the confusion, the residual for the GLS version of the Elantra is 61%. The 58% residual value is correct for the Limited trim level.

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  • chcougar1chcougar1 Member Posts: 5
    Hello Car_man,

    I have been reading this thread and enjoyed your feedback and insight. I am hoping you can assist me. My girlfriend and I are looking at leasing a 2012 Elantra Limited with Technology Package. Let's say we are able to get them down to MSRP around 23,350. Will there be additional fees or can we base our lease off of this cost? She has a credit score around 700, but only has about 6 months of a credit history. She has $6500 to put toward a car, but read your tip that one shouldn't put too much toward a down payment on a lease.

    What might we be looking at if she put $2000 down on a 36 month/15,000 mile lease?

    Thanks in advance.
  • lamstang94lamstang94 Member Posts: 9
    My friend just leased the same car. He got it for 23200. Not having much credit might put her up in the Tier 2 credit rating which will increase her payments. The upfront fees were first months payment, money for the registration for plates, some BS dealer conveyance fee, he rolled the tax in the payment. He also only put $1000 down.What state are you trying to buy it in? Dealers have different fees but some are these are BS fees.
  • dan36124dan36124 Member Posts: 27
    edited February 2012
    Hey chcougar-

    I'm not car man, but figure maybe I can help.

    I looked up the Elantra Limited with Tech and I get MSRP of 23,470.
    Let's say they sell you the car for invoice. 22,413.
    a 15k residual should be 58% and the money factor is .00190 (4.56%)
    Also I figured a $1,000 incentive. I'm not sure where you live, but I guessed 7% sales tax and NO CAP COST REDUCTION. Never put down anything like that on a lease. If you total the car or it gets stolen and never found, that money is gone. Keep it in your account.

    So all that figured in, I get $303 a month, that's if they give her .00190, which is no huge bargain...But hopefully they would.

    The only things you should pay up front on a lease are registration, bank fee and first month. Make them dump the doc fee. Its just pure profit. The tax should be in the payment, don't pay it up front all at once. Also, keep in mind you'll only pay sales tax on the amount of car depreciation you use. Which would be 22417 (selling price) - 13612 (residual) = $8805. Only that is taxable.

    If you roll in an even $1000 in fees, it looks like $334, just to give you an idea.

    Hope that helps.
    :)
  • lamstang94lamstang94 Member Posts: 9
    edited February 2012
    Just got some prices on a 2012 limited elantra with nav, 12,000 miles a year. Dealer told me a residual of 59% and money factor of .00190. Is the residual correct? Price they gave me was 22990. Up front cost were:

    ACQ fee- 595
    first months payment- 290
    license and reg, title- 175
    dealer convy- 499
    cap reduction- 63.50
    tax on reg fees.

    Thinking about asking them to take another $300 off the prices of the car because of that bs conveyance fee. Was told $2500 down and $290 a month. What are your thoughts? Good deal??

    Thanks
  • chcougar1chcougar1 Member Posts: 5
    Thanks. We live in Washington State, which bends people over on sales tax for auto purchases. I think it is something like 11-12% Thanks for the insight though. That is helpful. We are trying to decide to finance or lease. we would like the lower lease monthly payment, but if she has $6000 she could put down on finance then maybe that is better in the long run.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks chcougar1. You're absolutely correct, you definitely should not make a large down payment when leasing. Consumers who put a lot of money down when leasing risk losing part or all of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered. It's much safer to go with a zero down lease.

    The only things that would add to the selling price that you negotiated on the Elantra that you want are Hyundai Finance's acquisition fee of $595 (which can be paid at signing if you want) and any state taxes or fees, such as registration, tire tax, sales tax, etc...

    I need both this car's original full MSRP (including the destination charge) and the selling price that you negotiated to work up a lease payment for you. Let me know what those figures are and I'll gladly crunch some numbers for you.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    By the way, if you want to put a lot of money down you would be better off financing rather than leasing. Hyundai is currently running a special financing program that you might qualify for, featuring 1.9% financing for 3 years, 2.9% for 4 years, 3.9% for 5 years or 4.9% for 6 years.

    Car_man
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  • chcougar1chcougar1 Member Posts: 5
    Msrp is 22695 plus the 595 fee. WA state vehicle sales taxes are like 10-12% if we get it down to a flat 23000 including the fee but before taxes what is the estimated cost?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey chcougar1. According to my calculations, if you were to lease a 2012 Elantra Limited with Tech that has an MSRP of $22,695 and a selling price of $23,000 through Hyundai Finance right now for 36-months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $342.

    Car_man
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  • phredd44phredd44 Member Posts: 1
    Looking to lease 2013 Elantra Limited. Is there any info available for lease rates yet?

    In particular, do you have the Residual, MF, and fees for a 36 month lease with 12,000mi./yr.?

    Thanks
  • cptwlkrcptwlkr Member Posts: 4
    edited April 2012
    Any thoughts on this 2013 Hundai Elantra Limited lease deal? Money factor is a bit high, residual seems ok for 48 months, paying MSRP but no fees other than delivery and acquisition.

    MSRP $22045
    Sell $ 22795
    Term 48 months/12K miles per year
    Residual 56%
    Acq Fee 595
    Money .00190 (4.56%)
    Taxes $1001
    Monthly $298

    0 down, 0 money on deliver, lic fees, doc fees are all being 'shorted' by dealer

    thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yes there is phredd44. Hyundai Finance's April buy rate lease money factor and residual value for a 36-month lease of a 2013 Elantra Limited with 12,000 miles per year are .00204 and 59%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cptwlkr. While the money factor that you were quoted is not great, it's right in line with Hyundai Finance's buy rate for this model.

    Having said that, you definitely should try to negotiate some sort of dealer discount from MSRP.

    Car_man
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  • cptwlkrcptwlkr Member Posts: 4
    Thanks Car_man .. was able to get several items shorted or discounted by the dealership - acquisition fee (and disposition end of lease fee) along with doc fee were deducted or 0'd out in the deal...your suggestions/advise much appreciated.
    Also got mud guards, wind deflector, iPod cable, floor mats for 0 additional. We're happy and love our new Elantra.
    ~cptwlkr
  • pathfinder813pathfinder813 Member Posts: 1
    edited May 2012
    I leased an Elantra GLS with the Preferred package in VA for 36 months at 15k miles a year... sticker was 19470 or so and we negotiated a price down to 18050.

    I ended up leasing for 0 down, $275 a month (paid the first month payment). I believe MF was 0.00208 or so and RV was 62%. This also includes all VA sales tax and all fees.

    They said this included $1000 lease incentive.

    Is this right?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome cptwlkr. It sounds like you did well. Thanks for stopping back to let us know how everything turned out. Enjoy your new ride :shades: !

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  • mgs586mgs586 Member Posts: 1
    I am looking to lease a 2013 Elantra GLS with auto transmission (MSRP $18,470)
    Any updates to 36 month lease details? I have not decided 12,000 miles or 15,000 miles yet but would be interested in discounted purchase price, money factor and residual.

    I am co-signing this lease for my college aged daughter. Since she has no credit rating, they mentioned this may push me from the top credit tier to a tier 2 credit. Does that sound right? I am also planning to put $2500 down +/- to keep her payment around the $200/mo range.

    What the dealer has given me is a $179/mo lease rate that will increase to $189/mo when you include tax, title and license, and may bump up to $199/mo due to the lower credit tier.

    Any input would be appreciated!
  • lovethelancerlovethelancer Member Posts: 70
    Hey everyone,

    So this is what our delaership has agreed to with us:

    36 month, 12,000 mile/yr lease

    MSRP: 24600
    They agreed to $23,100 after discounts and rebates (However, sales person said the residual and monthly payment is calculated based on original MSRP....is this true?)

    Risidual value $15990 (This is 65%, should this be lower or higher?)
    Money factor: .00244

    Down Payment: $2500

    Acquisition Fee: $595
    Doc fee: $150
    Title/Licensing: $182.75
    Taxes: $1204

    Payments are $300/mo for 36 months

    Good deal, ok deal, bad deal???

    Thoughts and feedback appreciated. We are supposed to take delivery on Tuesday.

    Thanks in advance.
  • buffkgbuffkg Member Posts: 1
    Currently went to dealer with 23 yr old daughter intending to purchase used. Dealer swayed us to a lease of a 2013 Elantra GLS Limited. $3,000 down + trade-in of 1995 Camaro Z28 (104k miles) inclusive of tax, fees, etc. for 36mo/12k miles/yr @ $199/mo. "Buy out" of approx $12k @ end of lease.

    We have never leased a car before and I am completely unsure of what is fair or how to negotiate a better deal. I will need to co-sign this for her since she is a recent college grad with limited credit.

    Help pls!

    Don't believe this is a great deal based on what I've read here. What should we be negotiating and what should we stay away from? We are located in Central NJ.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi buffkg. Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

    In order to evaluate this deal, we would need to know this car's MSRP and selling price as well as how much you are being given for the Camaro.

    Car_man
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  • williemc1williemc1 Member Posts: 1
    Hi:

    I just leased a 2013 Elantra GLS w/Preferred Package from Keith Hawthorne Hyundai in Charlotte, NC. Did all the work via email and phone. Spent less than one hour in dealership for test drive and paperwork. Here's the deal.

    36 month, 12000 mile lease.

    No Money Down, they made the first payment.

    MSRP 19890.
    ADJ. CAP cost 20558.50 19890+69(tags)+599.50(Doc Fee)
    Residual Value 13071.70 (64%)
    Money factor .00178
    Payments 267.83+8.03(3% Tax)= $275.86

    Also, they made my last payment on my Camry Lease. ($355)

    Any thoughts?

    Thanks,
  • totolin123totolin123 Member Posts: 1
    Hi all. I want to ask about my experience with leasing a car today.
    The MSRP of the elantra 18650. They agreed to no down payment, but 200$ per month for 39 month.
    After we agree to this price, they took me to another room for signing papers. At this time they brought out some "wear&tear protection waiver (100 dectible, 500 single event limint)", some maintenance plan, and adding an alarm. For those three items, they asked for 45$/month extra. I felt like they ambushed me with this price and I said, maybe 30$/month? they agreed immediately. They made me feel a little uneasy. They also mentioned a 400 disposition fee at the end of lease.
    So in the end I get 230/month x 39 month + 400 disposition fee. Do you think I got a good deal? Is the 30$/month fee addition is some kind of gimmick? Thanks.
  • steevosteevo Member Posts: 389
    No gimmick, they offered you a bunch of items for 45 per, you negotiated to 30. So 30 dollars x 39 payments = 1170. So you paid 1170 for the items.
  • steevosteevo Member Posts: 389
    Car_man,
    Do you have the latest MF and residuals for the Hyundai Elantra Coupe GS and SE , 36 months, 12000 miles?
    Thank you..
  • steevosteevo Member Posts: 389
    Car_man,
    Do you have the latest MF and residuals for the Hyundai Elantra Coupe GS and SE , 36 months, 12000 miles?
    Thank you..
  • steevosteevo Member Posts: 389
    Does anyone have lease numbers I can use? See previous posts for terms..
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited September 2012
    Hi steevo. Hyundai Finance's September buy rate lease money factor and residual value for a 36-month lease of a 2013 Elantra Coupe GS with 12,000 miles per year are .00180 and 68%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a '13 Elantra Coupe SE are .00194 and 66%.

    Car_man
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  • steevosteevo Member Posts: 389
    Thanks!
  • bravelybravely Member Posts: 8
    I have never leased b4 and don't know much about is past negotiating a selling price first. Car Man, could you give insight for me on this . I know what residual value is but not much past that.
    Thank you, Nessie
  • steevosteevo Member Posts: 389
    http://www.edmunds.com/car-leasing/
    Negotiate best selling price for car. Use a lease calculator to determine payments.
    Knowledge is power when negotiating. All the information you are asking for is already in great detail in articles found here on edmunds, and you can also read through the leasing forums. The most active forums have the most information. I use the calculator on the following website, which also has some good leasing info.
    www.leaseguide.com
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