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

chinghale

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 .

kyfdx

chinghale said:

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 ..!!!!

For us to give advice on the price, we would need the particulars of the deal.
MSRP
Selling price
Money factor
Residual.

Once you have that, we can check it against our information..

Michaell

chinghale said:

how much off the selling price should i be aiming for Micheall

Use the pricing tools at the top of the page - "make / model / year" pull downs.

chinghale said:

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 ....

The only thing a lower selling price will do is lower your monthly payment. Won't have any affect on the residual value at the end of the lease, should you decide to buy it out.

chinghale said:

dealer says $324.79 per month with the $2500 down for 36 months 12,000 miles is there something I am missing ?

It depends on how the $2500 breaks down .. some of it is probably going to up front costs (acquisition fee, first month's payment, etc.) and some of it is down payment. You need to find out from the dealer.

chinghale

any guidance would be great does this seem too good to be true

chinghale

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

kyfdx

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?

chinghale

lease on Elantra is up April 4th

chinghale

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 ..!!!!

chinghale

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

chinghale

car is $34,645

chinghale

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%

Michaell

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.

chinghale

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 ?

chinghale

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 ?

Michaell

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

chinghale

how much off the selling price should i be aiming for Micheall

chinghale

and thank you m VERY helpfull

chinghale

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 ....

chinghale

dealer says $324.79 per month with the $2500 down for 36 months 12,000 miles is there something I am missing ?

chinghale

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.

chinghale

Thank you in advance your assistance has really helped me to understand the what could be somewhat complex process of leasing a car .

Michaell

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.