Santa Fe Sport 2.4 L with tech package. Am I getting a good deal on lease?

chinghalechinghale Member Posts: 20
edited March 2015 in Hyundai
Hi
We have been offered a Hyundai Santa Fe Sport 2015 2.4 L 4 Cylinder in Mineral grey with TECH package for $2500 down and payments of $315.00 per month inclusive of all taxes for a 48 month lease which we will probably buy at the end of…. we also got the 15,000 mile allowance per year option and no fee for returning our 3 year Leased Elantra limited 2013 which is in excellent condition with 36,000 miles.All our payments were made on time and in full on that lease and I have excellent credit .

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  • chinghalechinghale Member Posts: 20
    any guidance would be great does this seem too good to be true
  • chinghalechinghale Member Posts: 20
    any one ?
    could really do with some advice can they get me on the return of the Elantra should i document the car with photos
  • kyfdxkyfdx Moderator Posts: 210,272
    chinghale said:

    any one ?
    could really do with some advice can they get me on the return of the Elantra should i document the car with photos

    Is the lease on the Elantra up? Or, are you trading it in early?

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  • chinghalechinghale Member Posts: 20
    lease on Elantra is up April 4th
  • chinghalechinghale Member Posts: 20
    dealer promises delivery of the color we want on the 26th March and keeps asking for a deposit, I guess to take us off the market ....he hasn't checked credit or run paperwork yet ..!!!!
  • chinghalechinghale Member Posts: 20
    please kyfdx do you know the base money factor and residuals for the car we have been offered I have been trying to figure out the sums but math is not my strong point, please let me know what you think of the deal any advice would be greatly appreciated
  • chinghalechinghale Member Posts: 20
    car is $34,645

  • chinghalechinghale Member Posts: 20
    dealer won't give us those details !
    one more question does the Los Angeles county tax rate differ for orange county and the san fernando valley our dealer has now upped the repayments per month by 1%
  • MichaellMichaell ColoradoModerator Posts: 209,749
    chinghale said:

    dealer won't give us those details !
    one more question does the Los Angeles county tax rate differ for orange county and the san fernando valley our dealer has now upped the repayments per month by 1%

    Yes, I believe the tax rate is different in LA versus Orange County.

    If your dealer is not transparent with the details of the deal, it may be time to find another dealer to work with. Lots of Hyundai dealers in Southern California.

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  • chinghalechinghale Member Posts: 20
    MSRP $34,645
    SELLING PRICE -$34,645
    MF-.00040
    Residual -56%
    12k per year $2500 down which includes all fees dmv minimum drive etc
    2015 santa fe sport 2.4L with Tech package 36month lease
    what do u think Micheall
    does his look like a good deal are we gunna end up getting caught on the residual at end of lease ?



  • chinghalechinghale Member Posts: 20
    so if i do the sums 0.00040 multiply by 2400 the money factor would be 0.96 is this good on the above deal ?
  • MichaellMichaell ColoradoModerator Posts: 209,749
    chinghale said:

    MSRP $34,645
    SELLING PRICE -$34,645
    MF-.00040
    Residual -56%
    12k per year $2500 down which includes all fees dmv minimum drive etc
    2015 santa fe sport 2.4L with Tech package 36month lease
    what do u think Micheall
    does his look like a good deal are we gunna end up getting caught on the residual at end of lease

    I think you should be able to negotiate a lower selling price - use the "make / model / year" pull downs at the top of the page. For a $0 down lease, I get a pre-tax payment of $445.06, which is pretty high.
    chinghale said:

    so if i do the sums 0.00040 multiply by 2400 the money factor would be 0.96 is this good on the above deal ?

    Yes, the .00040 MF equates to a .96% interest rate. Almost free money

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  • chinghalechinghale Member Posts: 20
    how much off the selling price should i be aiming for Micheall

  • chinghalechinghale Member Posts: 20
    and thank you m VERY helpfull
  • chinghalechinghale Member Posts: 20
    does the selling price effect my deal tho ? will it come back and bite me at the end of the lease ? is that why I should try and negotiate a lower selling price ....
  • chinghalechinghale Member Posts: 20
    dealer says $324.79 per month with the $2500 down for 36 months 12,000 miles is there something I am missing ?

  • chinghalechinghale Member Posts: 20
    edited March 2015
    this is the agreement in full M before we pay a deposit today I would like to know what you think.?

    I will honor the price on the Hyundai Santa Fe Sport 2015 stock number 15H8434 $34,645 - 2.4 L 4 Cylinder in Mineral grey with TECH package for $2500 down and payments of $324.79 cents per month inclusive of all taxes for a 36 month lease including a 12,000 mile allowance per year and no fee for returning our 2013 Elantra limited with 35,000 miles, upon the completion of its 3 year lease on 4th April 2015
    I further state that if we do not have the Santa Fe in stock by April 4th that you may still turn in your Elantra lease to us and we will provide you with a loaner vehicle until Your Santa Fe Sport arrives with no extra cost or fees.

    The payments per month and down payment are based on the assumption that Lorena's credit score is above 700 .

    As is standard with Hyundai leases the first months payment of the lease is covered along with all DMV and ANY other fees in the $2500 down payment .

    A credit card payment of $400 will be payable upon the above agreement being honored and documented via email, this payment is fully refundable if the Santa Fe arrives damaged or is not delivered within 2 days of the 4th April, and will be reimbursed immediately.
  • chinghalechinghale Member Posts: 20
    Thank you in advance your assistance has really helped me to understand the what could be somewhat complex process of leasing a car .
  • MichaellMichaell ColoradoModerator Posts: 209,749
    chinghale said:

    this is the agreement in full M before we pay a deposit today I would like to know what you think.?

    I will honor the price on the Hyundai Santa Fe Sport 2015 stock number 15H8434 $34,645 - 2.4 L 4 Cylinder in Mineral grey with TECH package for $2500 down and payments of $324.79 cents per month inclusive of all taxes for a 36 month lease including a 12,000 mile allowance per year and no fee for returning our 2013 Elantra limited with 35,000 miles, upon the completion of its 3 year lease on 4th April 2015
    I further state that if we do not have the Santa Fe in stock by April 4th that you may still turn in your Elantra lease to us and we will provide you with a loaner vehicle until Your Santa Fe Sport arrives with no extra cost or fees.

    The payments per month and down payment are based on the assumption that Lorena's credit score is above 700 .

    As is standard with Hyundai leases the first months payment of the lease is covered along with all DMV and ANY other fees in the $2500 down payment .

    A credit card payment of $400 will be payable upon the above agreement being honored and documented via email, this payment is fully refundable if the Santa Fe arrives damaged or is not delivered within 2 days of the 4th April, and will be reimbursed immediately.

    $325/mo with tax for a car that has a sticker price of almost $35,000 is a pretty good deal.

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