2015 Hyundai Sonata Limited lease

johnnyc5johnnyc5 Member Posts: 2
edited April 2015 in Hyundai
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.

Answers

  • MichaellMichaell ColoradoModerator Posts: 183,121
    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.

    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • johnnyc5johnnyc5 Member Posts: 2
    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.
  • MichaellMichaell ColoradoModerator Posts: 183,121
    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.

    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

Sign In or Register to comment.