2015 Hyundai Sonata Limited lease

johnnyc5

Considering leasing a new Sonata Limited 4DR Sedan in the Indianapolis area.
Sticker price MSRP = $31240 which includes destination.

With discounts and rebates, Capitalized cost = $28447......$595 acquisition fee which is included in the cap cost....residual value = $18119.20 MF = .00076 36 months. Monthly payments = $299 which includes taxes and dealer pays the first payment. Curious if this is a fair deal. I believe that it is...and I like the dealer. Hoping for feedback. BTW... I am putting down $1800 in cash....which brings the cap cost down to $26647

Please tell me this is a fair deal....it's a new dealer and I'd like to give him my business.

Michaell

johnnyc5 said:

Considering leasing a new Sonata Limited 4DR Sedan in the Indianapolis area.
Sticker price MSRP = $31240 which includes destination.

With discounts and rebates, Capitalized cost = $28447......$595 acquisition fee which is included in the cap cost....residual value = $18119.20 MF = .00076 36 months. Monthly payments = $299 which includes taxes and dealer pays the first payment. Curious if this is a fair deal. I believe that it is...and I like the dealer. Hoping for feedback. BTW... I am putting down $1800 in cash....which brings the cap cost down to $26647

Please tell me this is a fair deal....it's a new dealer and I'd like to give him my business.

.00076 is the base MF for the Sonata Limited; the residual of 58% is fixed by the bank.

We do not recommend making a down payment on a lease; if the car is stolen or totaled, you lose that money. And, $1800 is only $50/mo more on your payment.

With your MSRP and cap cost, I get a pre-tax payment of $343.23/mo, which isn't bad on a $31K car.

There is also $1400 lease cash available - I suspect it's already built into your offer from the dealer, but you may be able to negotiate a slightly lower selling price.

Don't get caught up in the emotions of "it's a new dealer" - in fact, I suggest reaching out to multiple dealers and getting them to compete against one another to get the absolute lowest price.

johnnyc5

Your $343 figure is spot on....they gave me a figure of $344 which was $322 + $22 tax. I then told them I would like to put down $1800..that changed the payment to $302 I said what would it take to get the payment down to $299...he said $100 and he did it himself.

So...is the $344 monthly payment fair.... I understand the sentiment comment and also I will forego the down payment.

Michaell

johnnyc5 said:

Your $343 figure is spot on....they gave me a figure of $344 which was $322 + $22 tax. I then told them I would like to put down $1800..that changed the payment to $302 I said what would it take to get the payment down to $299...he said $100 and he did it himself.

So...is the $344 monthly payment fair.... I understand the sentiment comment and also I will forego the down payment.

My payment was before tax .. I don't know where you live nor what the tax rate is, so I couldn't include it in my calculations.