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Hyundai Elantra Lease Questions

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  • dolphin5dolphin5 Member Posts: 80
    Hi Car_man,

    Can you please provide the lease numbers (mf & resid) on 24 and 36 month, 12K and 15K mi/year leases on the 2012 and 2013 Hyundai Elantra GLS Sedan. Also, is there any lease support being provided?

    Thanks
  • cosanostracosanostra Member Posts: 91
    Car_Man -

    I'm considering an Elantra GT and wondered if you had any info on the October MF & residuals for a 24mo/12K per year or 36mo/12K per year lease.

    TIA!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome steevo.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome bravely. 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.

    Good luck in your negotiations and make sure to let us know if you have any questions.

    Car_man
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  • taher3taher3 Member Posts: 1
    I was shocked to learn yesterday that Hyundai Finance Co. will charge me $400+tax for not buying or leasing a new car from them after returning the old leased car. This was never disclosed to us by the selling and returning agents of the hyundai company but was cleverly placed in the contract. The leased car was already returned 2 months ago in excellent condition after inspection by their company. The car was returned with low mileage (26,000 miles instead of 30,000 mile per contract) and fully paid, one month before the end of the contract. We were told repeatedly by the Hyundai agents and Bank that there are no more charges and the case is closed.
    We ended up leasing Ford Fusion, 2 months back, after returning hyundai elantra and now we are being penalized by this deceitful company by sending us to collection if we dont pay the $424 "disposition fee", immediately. BUYERS BE AWARE before leasing any car from HYUnDAI LEASE COMPANY. Plz let this be known to all. Thanks.
  • steevosteevo Member Posts: 389
    You should beware of yourself. Did you read your Ford lease?
  • Sandman6472Sandman6472 Member Posts: 6,948
    edited October 2012
    "but was cleverly placed in the contract"...Did you not read the whole contract before you signed it? Excuse me but isn't it the buyers responsibility to read the "whole" contract before signing on the dotted line? Cleverly placed in the contract...? Now you want to blame Hyundai because you agreed to a part of the contract, written in plain English, and some how it's their fault? Excuse me while I stop laughing here for a minute!

    Personal responsibility folks, that's the name of the game. Why do so many Americans not want to take personal responsibility for their actions...I don't get it? Time to suck it up here...really folks...a life's learning lesson...READ EVERY LINE OF A CONTRACT! Especially when it's one of the most expensive purchases people make...read it!

    The Sandman :confuse: :sick: :shades:

    2023 Hyundai Kona Limited AWD (wife) / 2015 Golf TSI (me) / 2019 Chevrolet Cruze Premier RS (daughter #1) / 2020 Hyundai Accent SE (daughter #2) / 2023 Subaru Impreza Base (son)

  • pinksnyperpinksnyper Member Posts: 75
    CarFather (Car_Man) do you have #'s for a 2013 Elantra GLS w/ pref package 15k/yr 36m lease?

    Many thanks :)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Ha Hi pinksnyper :shades: . Here you go. Hyundai Finance's November buy rate lease money factor and residual value for a 36-month lease of a 2013 Elantra GLS Sedan with an automatic transmission and 15,000 miles per year are .00132 and 66% for consumers who qualify for its top credit tier.

    Car_man
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  • pvjimbopvjimbo Member Posts: 1
    Car Man....How about the December money factor and residual numbers for the same car...Hyundai GLS automatic, 3 year lease at 10,000 miles a year. We are in in So Cal if that matters. Thanks for all your good advice.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi pvjimbo. Hyundai Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2013 Elantra GLS automatic with 10,000 miles per year are .00132 and 68% for consumers who qualify for its top credit tier.

    Car_man
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  • needadeal4needadeal4 Member Posts: 2
    Hey Car guy,

    So this is the deal I got from the dealer in Van Nuys CA.
    2013 Hyundai Elantra GLS w/Preferred package MSRP 19,705.00
    Offer:
    Vehicle: 18,650 taxes 1,638.88 total 20,626.88
    due at signing 626.00 36months @ 236.90
    money factor: .00132 residual 66% = 13,005

    I thought the residual should be around 68%?

    Is this a good deal?

    M

    I feel like this is still a high payment.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi needadeal4. The money factor that you were quoted looks good. It's right in line with Hyundai Finance's buy rate for this model.

    The Elantra doesn't have much of a spread between its MSRP and dealer invoice price. I'd say that there's probably a little under $700 or so. So the $1,000 dealer discount that you are being given looks good to me.

    The two main negotiable aspects of this deal look good, so I'd say that this looks like a good deal to me.

    Car_man
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  • needadeal4needadeal4 Member Posts: 2
    Thanks Car_man!

    I actually got them down to 18,300 today and think I am going to make the deal.

    Thanks again

    M
  • doc_vdoc_v Member Posts: 11
    edited January 2013
    Hello Car Man,

    First of all, thank you so much for providing this service. It is much appreciated

    I'm here in Northern California and looking to lease a 2013 GLS with Auto and Preferred Package.

    Through the Costco Auto Buyers Program, I am being offered a good price on the car and MF, but the Residual seems considerable lower than what you've quoted here.

    MSRP $20,020*
    Selling Price $18,000
    Residual amount is $11,211 [or 55% if I'm doing my math correctly]
    MF is .00091
    12k miles per year

    *The model they're quoting includes carpeted floor mats, cargo net, first aid kit, auto dimming rearview mirror with Homelink, mud guards and rear bumper protector.

    Is this accurate? Would you please provide the latest numbers?

    Regards.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome needadeal4. Good job on getting them to lower the selling price.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi doc_v. The selling price and money factor that you were quoted look good to me.

    You never mentioned the payment for this car, but all of the factors that go into calculating it look good to me.

    Car_man
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  • dylrexdylrex Member Posts: 111
    Hi Car_man.

    Can you please provide me with the money factor and residual for a 3 year lease with 15k per year for an Elantra GLS?

    Thank you!!
  • doc_vdoc_v Member Posts: 11
    Car_Man

    My main concern was the Depreciation Factor of 55%. This is opposed to the 63-66% you've quoted above.

    55% seems especially low considering they are only preliminary numbers and I've yet to submit to any credit reviews.

    The monthly payment is $196 per month including tax and includes a $2,000 cap reduction.

    Could you tell me what the depreciation factor should be with a credit score around 700?

    Thanks again.

    Doc_V
  • dylrexdylrex Member Posts: 111
    Hi Doc_V
    I've been shopping the same vehicle and I found the below numbers on another site. These numbers are for 15k miles a year. The residual would be 2% higher with 12k miles a year.

    2013 HYUNDAI ELANTRA GLS AT
    36 Month – Residual 61% off MSRP – .00082 Base Rate

    After seeing Car_man's response to your question, I'm a bit confused.
  • doc_vdoc_v Member Posts: 11
    Just a heads up for anyone who's interested. The offer I've been given on a GLS with auto and Preferred Pkg. was a MF of .00082 and residual value of 63%. Sale price is $17,179.
  • dylrexdylrex Member Posts: 111
    What's the sticker price and how many miles per year? Also, does the sales price include any dealer cash?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello dylrex. Hyundai Finance's January buy rate lease money factor and residual value for a 36-month lease of a 2013 Elantra Sedan GLS with an automatic transmission and 15,000 miles per year are .00081 and 61% for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Doc_V. It's strange that the residual value would be any different than what Hyundai Finance has published. Dealers really do not have the ability to alter banks' residuals.

    Your credit score should not have any impact upon the residual value, just the money factor.

    The residual value for a 36-month lease of a 2013 Elantra GLS with Auto and 12,000 miles per year should be 63%. If your vehicle's residual value is significantly different than this make sure to ask the dealer why that is the case.

    Car_man
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  • doc_vdoc_v Member Posts: 11
    The MSRP was $19,650 and 12,000 miles per year. The selling price did include a $775 destination charge.
  • doc_vdoc_v Member Posts: 11
    I'm considering a 2013 Limited and was curious what the MF and Residual Value are for a 3 year lease with 12k miles per year and an MSRP of $22,020.
  • subdrvrsubdrvr Member Posts: 4
    edited January 2013
    Hi Car Man,

    I would appreciate it if you could provide me with
    money factor and residual for 13' Elantra GT with touch and Go package (MSRP-$21340) and with Style Package (MSRP-$23140). 12,000 miles-36 months. I'm in the Detroit area.

    Thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi doc_v. Hyundai Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2013 Elanra Limited with 12,000 miles per year are .00085 and 60% for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello subdrvr. Hyundai Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2013 Elantra GT with an automatic transmission and 12,000 miles per year are .00103 and 62% for consumers who qualify for its top credit tier.

    Car_man
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  • dylrexdylrex Member Posts: 111
    Hi Car_man.

    Can you please provide me with Hyundai Finance's current buy rate lease money factor and residual value for a 24 and 36-month lease of a 2013 Elantra GLS with 15,000 miles per year?
    Also, is there any dealer cash available?

    Thank you!

    Tim
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Tim. Hyundai Finance's February buy rate lease money factor and residual value for a 36-month lease of a 2013 Elantra GLS with an automatic transmission and 15,000 miles per year are .00081 and 61% for consumers who qualify for its top credit tier.

    I don't think that Hyundai is currently offering 24-month leases. There isn't any dealer cash that I am aware of on this model either.

    Car_man
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  • jenm77jenm77 Member Posts: 1
    Does anyone know what the credit score is required for receiving Hyundai's top credit tier? What is the difference between the top tier and second tier in regards to the lease rate?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Good question jenm77. Hyundai Finance's best available lease money factors are usually available to consumers who qualify for its Tier 1 and Tier 2 credit tiers, consumers who have credit scores of 700+.

    The money factor increase is pretty steep for Tiers 3 and 4, +.00100.

    Car_man
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  • dylrexdylrex Member Posts: 111
    Hi Car_man.

    Thank you for providing me with the 36 month numbers. I'd like to compare them to the 24 month. Could you please provide Hyundai Finance's February buy rate lease money factor and residual value for a 24-month lease of a 2013 Elantra GLS with an automatic transmission and 15,000 miles per year?
    Thank you.

    Tim
  • dylrexdylrex Member Posts: 111
    edited March 2013
    I thought I'd share the deal I closed last night on a '13 Hyundai Elantra GLS w/Preferred Pkg. I think this is a pretty good deal.

    MSRP: $19,695
    Cap cost: $17,420 (including acq. fee)
    Money factor: .00074
    Residual: .76% ($14,968.20)
    Term: 24 months
    Payment pretax: $126.13
    Total monthly payment w/6% tax: $133.70
  • cali92cali92 Member Posts: 12
    That sounds like a great deal, I have been considering a Elantra. Did you put a down payment or any out of pocket costs?
    Thanks
  • cali92cali92 Member Posts: 12
    Also, is that an automatic?
    Thanks
  • cali92cali92 Member Posts: 12
    Hi Car man,
    I am considering the GLS/preferred package automatic. What is money factor and residual for March for top tier credit? I would like 24 or 36 months. I am in NJ. Any other input would be great, like a target price.
    Thanks
  • dylrexdylrex Member Posts: 111
    There was $723.70 required at signing but I was able to use my $500 loyalty rebate and only wrote a check for $223.70. Yes, it is an automatic.
  • bunkscbunksc Member Posts: 11
    Hi there. Would you mind sharing the name and location of the dealer you got this fantastic deal from? Thank you.
  • dylrexdylrex Member Posts: 111
    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 Member Posts: 11
    Thank you!
  • driverone2driverone2 Member Posts: 13
    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 Member Posts: 53
    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
  • driverone2driverone2 Member Posts: 13
    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 Member 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 Member 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.
  • driverone2driverone2 Member Posts: 13
    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.
  • driverone2driverone2 Member Posts: 13
    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 Member 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..
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