2016 Hyundai Sonata Lease Questions

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  • tonyg2016tonyg2016 midwest, usaMember Posts: 728
    edited March 2016
    My local sales guy called me yesterday to see if i was still in the market for a sonata Sport 2.4, esp. with the increased incentives (3/17). For a 36mo, 12k miles lease:

    residual 53%, mf 0.00082, lease cash 3000, spring cash 1000

    i believe those numbers are valid for Florida. i was also considering the sonata value pkg (not sure if i want/need some of those gizmos (i am old). sample calc follows:

    msrp 25310, sell 23310 (2000 discount), using 4000 LC, raw monthly 208 (excludes tax, dmv, doc)

    note for the Florida guy: check fitzmall pricing, beware they lowball you on the price but get you on the exorbitant doc fee (~499)

    http://www.fitzclearwaterhyundai.com/VehicleDetails/new-2016-Hyundai-Sonata-4dr_Sdn_2.4L_Sport-Clearwater-FL/2685026213
  • danxpdanxp Member Posts: 47
    got a lease quote as follows:

    2016 sonata sport 2.4 w/premium pkg
    - msrp ~$26k
    - 36mo
    - 12k mi/yr
    - $1300 due at signing (incl nj sales tax, acq fee, dmv fee, doc fee, etc)
    - $250/mo (includes sales tax)

    good deal?
  • MichaellMichaell ColoradoModerator Posts: 186,142
    danxp said:

    got a lease quote as follows:

    2016 sonata sport 2.4 w/premium pkg
    - msrp ~$26k
    - 36mo
    - 12k mi/yr
    - $1300 due at signing (incl nj sales tax, acq fee, dmv fee, doc fee, etc)
    - $250/mo (includes sales tax)

    good deal?

    What is the selling price or adjusted capitalized cost?

    On the surface, it looks good.

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  • danxpdanxp Member Posts: 47
    he didn't say... but as a consumer i don't really care what the selling price is as long as the money due at signing and monthly pmt are agreeable...

    i'm not going to buy the car at the end so i don't care about residual... based on the lease calculator from earlier in the thread i thought i'd be in in the $265/mo range so $250 w/$1300 due seems like a huge win to me...

    am i missing something?

    thanks.
  • tonyg2016tonyg2016 midwest, usaMember Posts: 728
    edited March 2016
    danxp said:

    got a lease quote as follows:

    2016 sonata sport 2.4 w/premium pkg
    - msrp ~$26k
    - 36mo
    - 12k mi/yr
    - $1300 due at signing (incl nj sales tax, acq fee, dmv fee, doc fee, etc)
    - $250/mo (includes sales tax)

    good deal?

    It's a great deal for the car salesman!

    Without the critical details, we can't fully evaluate your deal BUT i can use realistic estimates and tell you it's about $1050 too high. But, if you are happy, go for it - it's only money...

    i get 36 payments of 251 (inclusive of 7% tax, 250 doc, 75 dmv, msrp 26300, sell 24200, 4000 lease/spring cash).

    http://www.edmunds.com/car-buying/what-fees-should-you-pay.html#chart

  • danxpdanxp Member Posts: 47
    thanks tony... don't they usually charge an acquisition/bank fee of $595 or is that the doc/dealer fee? i've been charged as much as $600 for a dmv fee (and they said they're even allowed by law to charge as much as $900+ in nj... ridiculous, eh?)
  • tonyg2016tonyg2016 midwest, usaMember Posts: 728
    The acq fee of 595 goes to HMF and is included in my calcs.

    The doc fee is pure dealer profit and every state has different rules on it. The edmunds data i linked to shows an average doc fee in NJ of 334 but it is negotiable ( i.e., could be zero)

    DMV fees are for registering the car with the state; avg fee in NJ is 93 (only you can verify that)

    I increased the doc/dmv amount to 430 and now get 254/month (that's 36 payments of 254)

    36 * 254 = 9144

    1300 + (35 * 250) = 10050 (about 906 higher)

    I would make an offer somewhere in between and be prepared to WALK.
  • onebetteronebetter Member Posts: 26
    Can you tell me the MF and RV for the Sonata Sport 2.4 and Limited 2.4 for 36/12 for Long Island NY. Thanks.
  • MichaellMichaell ColoradoModerator Posts: 186,142
    onebetter said:

    Can you tell me the MF and RV for the Sonata Sport 2.4 and Limited 2.4 for 36/12 for Long Island NY. Thanks.

    Sport 2.4 - .00055 and 53%
    Limited 2.4 - .00087 and 56%

    $2000 lease cash for both.

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  • tshafer0911tshafer0911 Member Posts: 42
    Could I have the same as above, Sport 2.4 and Limited 2.4 for Mass?

    48/10 and 36/10?

    Thanks.
  • kyfdxkyfdx Moderator Posts: 190,788

    Could I have the same as above, Sport 2.4 and Limited 2.4 for Mass?

    48/10 and 36/10?

    Thanks.

    Sport: .00055 MF and 54% residual. $2000 lease cash
    LTD: .00087 MF and 57% residual. $2000 lease cash

    You don't want to do 48 months.. the numbers aren't as good.

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  • mrjoshua2mrjoshua2 Member Posts: 24
    edited March 2016
    Has anyone confirmed the additional lease cash yet? I'm looking for the total amount towards a Sport 2.4 with value package, thank you.
  • MichaellMichaell ColoradoModerator Posts: 186,142
    mrjoshua2 said:

    Has anyone confirmed the additional lease cash yet? I'm looking for the total amount towards a Sport 2.4 with value package, thank you.

    We didn't get any updated documents from Hyundai, so we can't confirm any updated incentives.

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  • onebetteronebetter Member Posts: 26
    Is the following a good deal to go forward with in Suffolk County NY. Thanks in advance.

    2016 Hyundai Limited 2.4L
    3 yr 36 month 15K per yr
    $346 per month
    MSRP $28,365
    Adj Cap Cost $26,460 (includes acquisition fee)
    MF .00087
    RV 54%
    Sales tax rate 8.625%
    Due at signing $846 + up front tax + doc and DMV fees

    Appreciate your advice.
  • MichaellMichaell ColoradoModerator Posts: 186,142
    onebetter said:

    Is the following a good deal to go forward with in Suffolk County NY. Thanks in advance.

    2016 Hyundai Limited 2.4L
    3 yr 36 month 15K per yr
    $346 per month
    MSRP $28,365
    Adj Cap Cost $26,460 (includes acquisition fee)
    MF .00087
    RV 54%
    Sales tax rate 8.625%
    Due at signing $846 + up front tax + doc and DMV fees

    Appreciate your advice.

    I agree with those numbers. Only way to make it better is to negotiate a better selling price.

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  • danxpdanxp Member Posts: 47
    update:

    offered a deal on a 2016 sonata sport 2.4 w/premium pkg as follows...
    - msrp $26260
    - 36mo
    - 12k mi/yr
    - $1150 due at signing (incl tax, all fees (dmv ,acq/bank, doc), not sure if it includes 1st mo pmt however)
    - $230/mo includes 7% nj sales tax

    will update once i close the deal...

    thanks for all the help tonyg and michaell!
  • MichaellMichaell ColoradoModerator Posts: 186,142
    danxp said:

    update:

    offered a deal on a 2016 sonata sport 2.4 w/premium pkg as follows...
    - msrp $26260
    - 36mo
    - 12k mi/yr
    - $1150 due at signing (incl tax, all fees (dmv ,acq/bank, doc), not sure if it includes 1st mo pmt however)
    - $230/mo includes 7% nj sales tax

    will update once i close the deal...

    thanks for all the help tonyg and michaell!

    $230/mo with tax is a good price on a $26K car is a great price!

    May need you to help negotiate my next lease later this year when my Elantra GT lease expires.

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  • danxpdanxp Member Posts: 47
    it's a good deal lower than my previous quote so we'll see if i actually get it when i walk in... communicated everything on email so i "should" be ok... btw, the due at signing is $1250 not $1150 but it includes the 1st mo pmt...
  • tonyg2016tonyg2016 midwest, usaMember Posts: 728
    edited March 2016
    tonyg2016 said:


    I increased the doc/dmv amount to 430 and now get 254/month (that's 36 payments of 254)

    36 * 254 = 9144

    your prior quote: 1300 + (35 * 250) = 10050

    I would make an offer somewhere in between and be prepared to WALK.

    new deal: 1250 + (35 * 230) = 9300 (that's 750 less than your prior quote)

    i hope they honor that e-mail quote


  • mrjoshua2mrjoshua2 Member Posts: 24
    Thank you everyone for all of your help.... before signing, I have them at $255 tax included with $400 total down, which includes 1st month. 2016 Sport 2.4, with value package and they are throwing in a window tint.

    Florida
    12k / 36 months.
    Gross $25,385
    Cap $21,385
    mf .00055
    Res 53%

    -I'm very happy with those numbers, could I do better?
  • MichaellMichaell ColoradoModerator Posts: 186,142
    mrjoshua2 said:

    Thank you everyone for all of your help.... before signing, I have them at $255 tax included with $400 total down, which includes 1st month. 2016 Sport 2.4, with value package and they are throwing in a window tint.

    Florida
    12k / 36 months.
    Gross $25,385
    Cap $21,385
    mf .00055
    Res 53%

    -I'm very happy with those numbers, could I do better?

    You are at 16% under sticker price - I suppose you can push for more of a discount, but don't be surprised if they refuse.

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  • mrjoshua2mrjoshua2 Member Posts: 24
    Michaell said:

    mrjoshua2 said:

    Thank you everyone for all of your help.... before signing, I have them at $255 tax included with $400 total down, which includes 1st month. 2016 Sport 2.4, with value package and they are throwing in a window tint.

    Florida
    12k / 36 months.
    Gross $25,385
    Cap $21,385
    mf .00055
    Res 53%

    -I'm very happy with those numbers, could I do better?

    You are at 16% under sticker price - I suppose you can push for more of a discount, but don't be surprised if they refuse.
    I will push, but if it stays like this, is 16% under a solid deal? How would you rate it on a scale from 1-10? lol
  • MichaellMichaell ColoradoModerator Posts: 186,142
    mrjoshua2 said:

    Michaell said:

    mrjoshua2 said:

    Thank you everyone for all of your help.... before signing, I have them at $255 tax included with $400 total down, which includes 1st month. 2016 Sport 2.4, with value package and they are throwing in a window tint.

    Florida
    12k / 36 months.
    Gross $25,385
    Cap $21,385
    mf .00055
    Res 53%

    -I'm very happy with those numbers, could I do better?

    You are at 16% under sticker price - I suppose you can push for more of a discount, but don't be surprised if they refuse.
    I will push, but if it stays like this, is 16% under a solid deal? How would you rate it on a scale from 1-10? lol
    I don't track selling prices, so can't rate the strength of your deal. If you're happy with it, that's all that matters.

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  • tonyg2016tonyg2016 midwest, usaMember Posts: 728
    what really matters is whether the lease cash is 2000 or 3000! that's about a $28/month difference in your payment. The sticker price is important but the incentives and money factor matter greatly in the lease calculation.

    edmunds says: 2000 lease cash, .00055 mf, 500 spring cash
    updated numbers that changed on 3/17 (at least in OH; hyundai numbers are national, i thought):
    3000 lease cash, .00082 mf, 1000 spring cash

    I'd call another dealer and see what they tell you about the data i posted - can't hurt.
  • cbmseventeencbmseventeen Member Posts: 39
    Hi. I'm planning on leasing a '16 Limited 2.4 in South Florida and wanted to know if the MF and residual are still .00087 and 56%?
    Also, what's the total lease/bonus cash available? At Hyundai's website I see:
    $1000 Spring Sales Cash
    $1000 Retail Bonus Cash
    Where can I find the $4000 lease cash others have posted? Is that including loyalty, military, recent grad bonuses?
    Thanks
  • kyfdxkyfdx Moderator Posts: 190,788

    Hi. I'm planning on leasing a '16 Limited 2.4 in South Florida and wanted to know if the MF and residual are still .00087 and 56%?
    Also, what's the total lease/bonus cash available? At Hyundai's website I see:
    $1000 Spring Sales Cash
    $1000 Retail Bonus Cash
    Where can I find the $4000 lease cash others have posted? Is that including loyalty, military, recent grad bonuses?
    Thanks

    .00087 MF and 56% residual are correct for 36/12.

    Can't answer your other questions

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  • rxlaw63rxlaw63 Member Posts: 11
    What is MF and RV for 2016 sonata sport with tech package in Philadelphia Pa area
    3/36
    Thanks
  • staroceanstarocean Member Posts: 11
    Get a quote from California Dealer:
    10K/36 months.
    Gross $22,770
    discount $2,270
    acq fee $595
    MF .00077
    Res 57%
    Leash cash + spring cash $3000
    ==> 0 down, $205/month

    my questions are:
    1. Why leash cash + spring cash is only $3000? It's $4000 ($3000+$1000) according to this thread?
    2. Is this quote a good deal?
  • MichaellMichaell ColoradoModerator Posts: 186,142
    rxlaw63 said:

    What is MF and RV for 2016 sonata sport with tech package in Philadelphia Pa area
    3/36
    Thanks

    2.4 or 2.0T?

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  • MichaellMichaell ColoradoModerator Posts: 186,142
    starocean said:

    Get a quote from California Dealer:
    10K/36 months.
    Gross $22,770
    discount $2,270
    acq fee $595
    MF .00077
    Res 57%
    Leash cash + spring cash $3000
    ==> 0 down, $205/month

    my questions are:
    1. Why leash cash + spring cash is only $3000? It's $4000 ($3000+$1000) according to this thread?
    2. Is this quote a good deal?

    SE is .00077 and 57% for 36/10.

    We show lease cash of $2000 and spring bonus cash of $1000.

    Is the $205/mo quote with tax? If so, pretty solid deal.

    What is the adjusted cap cost?

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  • staroceanstarocean Member Posts: 11
    edited March 2016
    Michaell said:

    starocean said:

    Get a quote from California Dealer:
    10K/36 months.
    Gross $22,770
    discount $2,270
    acq fee $595
    MF .00077
    Res 57%
    Leash cash + spring cash $3000
    ==> 0 down, $205/month

    my questions are:
    1. Why leash cash + spring cash is only $3000? It's $4000 ($3000+$1000) according to this thread?
    2. Is this quote a good deal?

    SE is .00077 and 57% for 36/10.

    We show lease cash of $2000 and spring bonus cash of $1000.

    Is the $205/mo quote with tax? If so, pretty solid deal.

    What is the adjusted cap cost?
    Thanks a lot for your info!
    Yes, it includes tax.
    The quotation doesn't show adjusted cap cost.
  • tonyg2016tonyg2016 midwest, usaMember Posts: 728
    I think it fair to point out that edmunds does not typically get mid-month updates and the hyundai incentives changed on 3/17. Also, dealers are not required to pass along ALL the lease cash. Knowledge is Power and i would press the issue with the California dealership.

    My .02: unless you are 100% sure you will not exceed the 10k miles per year, go with the 12k lease as it only costs you an additional 1% which on the SE model is less than $10/month.

    with your numbers (57%, .00077mf, 3000lc) and assuming 9% tax rate, 324 for doc/dmv, sell 20500, i get $197.48; close to their 205 but they must be adding something else...
  • gspopegspope Member Posts: 2
    Can I please get the MF and Resid for a Limited in central Ohio on 36/12k lease?

    Is the lease cash now $3,000 + $1,000 Spring Cash (total $4,000)?

    Also, if I current have a leased '12 Sonota (and am a veteran), can I add the Valued Customer ($500), Loyalty ($500) and military ($500) incentives on top of the $4,000 (for a total of $5,500 off)?

    Thanks.

    -Greg
  • kyfdxkyfdx Moderator Posts: 190,788
    gspope said:

    Can I please get the MF and Resid for a Limited in central Ohio on 36/12k lease?

    Is the lease cash now $3,000 + $1,000 Spring Cash (total $4,000)?

    Also, if I current have a leased '12 Sonota (and am a veteran), can I add the Valued Customer ($500), Loyalty ($500) and military ($500) incentives on top of the $4,000 (for a total of $5,500 off)?

    Thanks.

    -Greg

    .00087 MF and 56% residual.

    We only show $2000 lease cash. If it's changed mid-month, we won't know about it.

    No idea about the other incentives.

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  • danxpdanxp Member Posts: 47
    fyi...

    i'm happy to report my deal completed successfully...
    - 2016 sonata sport w/premium pkg
    - msrp $26380
    - 36mo
    - 12k mi/yr
    - $400 disp fee
    - .20/mi overage
    - $13700 purchase price at end (was originally reported at 11.7k but won't be buying at after anyway)
    - $529 due at signing includes 1st mo, dmv fees
    - all additional fees and taxes rolled up into monthly pmt
    - $251/mo incl nj sales tax

    thanks again to michaell and tonyg for all the help... good luck all.
  • MichaellMichaell ColoradoModerator Posts: 186,142
    danxp said:

    fyi...

    i'm happy to report my deal completed successfully...
    - 2016 sonata sport w/premium pkg
    - msrp $26380
    - 36mo
    - 12k mi/yr
    - $400 disp fee
    - .20/mi overage
    - $13700 purchase price at end (was originally reported at 11.7k but won't be buying at after anyway)
    - $529 due at signing includes 1st mo, dmv fees
    - all additional fees and taxes rolled up into monthly pmt
    - $251/mo incl nj sales tax

    thanks again to michaell and tonyg for all the help... good luck all.

    Wow ... excellent deal!

    Congrats and enjoy the new Sonata!

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  • rxlaw63rxlaw63 Member Posts: 11
    Michaell said:

    rxlaw63 said:

    What is MF and RV for 2016 sonata sport with tech package in Philadelphia Pa area
    3/36
    Thanks

    2.4 or 2.0T?
    2.4 please
  • kyfdxkyfdx Moderator Posts: 190,788
    rxlaw63 said:

    Michaell said:

    rxlaw63 said:

    What is MF and RV for 2016 sonata sport with tech package in Philadelphia Pa area
    3/36
    Thanks

    2.4 or 2.0T?
    2.4 please
    .00055 MF and 53% residual. $2000 lease cash.

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  • 132nick132nick Member Posts: 47
    edited April 2016
    What are the April MF/RV/lease cash numbers on 2016 Sonata SE & Sport 2.4 for 36/12 & 36/10 in South Florida? Is lease cash still $3000 total? Thanks.
  • tonyg2016tonyg2016 midwest, usaMember Posts: 728
    waiting for edmunds guys to respond BUT it appears the april incentives are not that good compared to March, at least from the BUY side. Leasing may be different...

  • tonyg2016tonyg2016 midwest, usaMember Posts: 728
    Any numbers for April?
    MF/residuals/lease cash on 2016 Sonata SE & Sport 2.4 for 36/12 & 36/10 in Ohio
  • MichaellMichaell ColoradoModerator Posts: 186,142
    132nick said:

    What are the April MF/RV/lease cash numbers on 2016 Sonata SE & Sport 2.4 for 36/12 & 36/10 in South Florida? Is lease cash still $3000 total? Thanks.

    36/12 numbers:
    SE - .00077 and 56%
    Sport 2.4 - .00055 and 53%

    $2000 lease cash.

    Add 1% for 10K

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  • MichaellMichaell ColoradoModerator Posts: 186,142
    tonyg2016 said:

    Any numbers for April?
    MF/residuals/lease cash on 2016 Sonata SE & Sport 2.4 for 36/12 & 36/10 in Ohio

    36/12 numbers:
    SE - .00077 and 56%
    Sport 2.4 - .00055 and 53%

    $2000 lease cash.

    Add 1% for 10K

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  • tonyg2016tonyg2016 midwest, usaMember Posts: 728
    I am confused. This is posted on your incentives page:

    "Bonus $ Offer
    Requirements and Restrictions:
    Bonus Cash is available towards leasing. Must finance through Hyundai Motor Finance using special lease rates on 36 month contracts only.
    Bonus $ Offer Type Start End
    $2,750 04/01/2016 05/02/2016"
  • 132nick132nick Member Posts: 47
    Michaell said:

    132nick said:

    What are the April MF/RV/lease cash numbers on 2016 Sonata SE & Sport 2.4 for 36/12 & 36/10 in South Florida? Is lease cash still $3000 total? Thanks.

    36/12 numbers:
    SE - .00077 and 56%
    Sport 2.4 - .00055 and 53%

    $2000 lease cash.

    Add 1% for 10K
    Do you think they'll come out with additional $1000 spring bonus cash mid-month like they did in March? Is it worth waiting.
  • MichaellMichaell ColoradoModerator Posts: 186,142
    tonyg2016 said:

    I am confused. This is posted on your incentives page:

    "Bonus $ Offer
    Requirements and Restrictions:
    Bonus Cash is available towards leasing. Must finance through Hyundai Motor Finance using special lease rates on 36 month contracts only.
    Bonus $ Offer Type Start End
    $2,750 04/01/2016 05/02/2016"

    OK, my information doesn't have that, but we don't have everything that's published, either

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  • MichaellMichaell ColoradoModerator Posts: 186,142
    132nick said:



    Michaell said:

    132nick said:

    What are the April MF/RV/lease cash numbers on 2016 Sonata SE & Sport 2.4 for 36/12 & 36/10 in South Florida? Is lease cash still $3000 total? Thanks.

    36/12 numbers:
    SE - .00077 and 56%
    Sport 2.4 - .00055 and 53%

    $2000 lease cash.

    Add 1% for 10K
    Do you think they'll come out with additional $1000 spring bonus cash mid-month like they did in March? Is it worth waiting.
    No idea about any other incentives other than what I've posted. Or, for that matter, what may or may not happen mid-month.

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  • maslowsmaslows Member Posts: 7
    Delaware
    Dealer said Rebates were included but the math doesn't make sense, I get military plus recent college grad, and I am assuming lease cash, but this was never confirmed.
    I have 4 years left on the Audi, it was an impulse buy, I didn't think of the family factor just me, and its too small.

    Trade In: 2008 Audi A4 w/99,980 miles
    Trade In Payoff: $11920
    Trade In Allowance: $5000

    White with Grey Interior - 2016 Sonata SE w/PZEV

    Selling Price: $22,710
    Trade Allowance: -$5000
    Adjusted Price: $17,710
    Registration Fee: $200
    Admin Fee: $299
    Tax: $769
    Non Tax Fee: $75
    Trade Payoff: $11,920
    Balance: $30,973

    From there a Number $15,876 for 36 month with $1500 down payments are $441

  • maslowsmaslows Member Posts: 7
    ok edit:

    MF - .00105
    Residual - 12717.60
    Lease Cash & Rebates - $3650
  • tonyg2016tonyg2016 midwest, usaMember Posts: 728
    Perhaps i am not reading this correctly. Are you seriously trying to roll in $6920 of negative equity into this deal?

    from a prior post today, 36/12 numbers:
    SE - .00077 and 56%

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