Hyundai Sonata Lease Questions

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  • naoumis1naoumis1 Member Posts: 16
    true car gives 24,702 for ltd...
  • mg512mg512 Member Posts: 2
    I was hoping Car_Man or someone else could help me approximate a lease cost for a 2011 Sonata. I'm looking at getting the Limited 2.0t fully loaded with the navigation package (I believe that is the only package once you get to the Limited 2.0t).

    My credit is average however I have a cosigner with a perfect 850 credit score so I assume that will qualify for the highest tier credit. I'm looking at putting about $4000 on a cap cost reduction (although perhaps lower if it isn't necessary, but I can spare the money in any case). The MSRP on the car is $29,865 with the navigation package although I don't know what the invoice is or what the negotiated price would be so I'm just asking for a rough estimate using a conservative number.

    Thanks for any help you can provide.
  • magooleymagooley Member Posts: 3
    Hi, I was hoping Car Man or someone else could give me the MF and residual on a 2011 Sonata SE with a sticker price of 23,415. I live in NY and I think I can talk them down to about 21,500 or so. I'm looking to lease and hoping to get out around $220- 225 with no money down and first payment and taxes paid up front.

    Thanks in advance for the help!

    Alec
  • mg512mg512 Member Posts: 2
    I just want to share the lease deal I got today.

    I'm getting a Black/Black Limited 2.0t w/ Navigation for $3000 down ($3535 out the door) for $275/mo tax inclusive.

    Honestly I thought it was going to be in the 300s so I was surprised that before I even started negotiating the price was lower than 300. I think the first number they gave me was 287 or 290 tax inclusive.
  • ypeype Member Posts: 3
    Hi All,

    I'm ready to finalize this deal on Monday, but still think/ feel there is some room for negotiation. I will appreciate your comments / suggestions. here are the details:

    Term: 36 months
    Miles per Year: 12K
    Down Payment: $0

    MSRP: $26,380
    Sale Price: $23,367
    Fees Rolled In: Everything is rolled in the only out of pocket is the 1st payment
    % Residual: 55%
    Money Factor: .00031
    % Sales Tax: 8%

    In addition, I will be trading-in my 97 Nissa Altima (GXE) - dealer is offering $1,000.
    So far, we negotiated via email and the last figure I got is $308 / mo.

    Any and all comments/suggestions will be appreciated.

    Thanks.
  • th83th83 Member Posts: 164
    Hi Everyone,

    I have a quick question about the Sonata Turbo's residual value. I know that it's 59% for the Turbo SE w/o Navigation for a 12k/year lease, but what is it for the Turbo SE with Navigation (same terms)? 57%?

    Nobody seems to be interested in that one so I haven't seen it posted.

    Thanks in advance for the help!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I completely agree with kyfdx. I've taken a leased vehicle into Canada before and it's not really a big deal. Of course, my car was not stolen or in an accident there...but that really is between you and the insurance company, not the bank. As long as they get their money back in the event of a total loss I don't see why it matters to them whether one takes their car on a trip outside of the U.S.

    I also agree with kyfdx even more when he said that this does not constitute legal advice. I'm definitely not a lawyer.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mg512. Let's crunch some numbers and see what we come up with. This car's dealer invoice price is $27,897. Let's assume that you were able to get it for $500 over invoice.

    Using that selling price and an MSRP of $29,865, I estimate that this car would have a 36-month, 15,000 mile per year, zero down, pre-tax monthly payment of around $339.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Alec. Here's the information that you're looking for.

    Hyundai Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Sonata SE with 15,000 miles per year are .00031 and 55%, respectively.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi th83. I don't believe that the addition of navigation has any impact upon the Sonata's lease program...just the price.

    Car_man
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  • th83th83 Member Posts: 164
    Awesome :) Thank you for clearing that up for me, Car Man. You're the best!
  • allroadangerallroadanger Member Posts: 81
    I come up with about $281 per month
    Assuming $1100 out of pocket (dmv/doc/bank acq/1st month)
  • vehiculavehicula Member Posts: 47
    After doing some reading, I suppose I can see why Hyundai Motor Finance doesn't want the car to leave the U.S. They are the owner of the car, after all, and have a right to worry about what their liabilities might be under a foreign legal system. They might want to repossess the car if a lessee exposes them to undue legal liability.

    But practically speaking, I probably don't need to worry about a casual visit into Canada to visit my family, even if I get into a accident. On the other hand, if I was planning on driving to Canada to import crack or rob a bank...well, in that case I'm not worrying about what Hyundai thinks about it.
  • treasurehuntertreasurehunter Member Posts: 3
    Can I ask you a few questions about your apparently great deal ?

    How many months is your lease?
    How many miles do you get per year for mileage?
    Do you remember what money factor they used?
    Do you remember what the residual percentage was used?

    This is a time sensitive request, so if you have a minute to reply that would be great. I want to go to the car dealership tonight and could use your information very well. Thank you.
  • treasurehuntertreasurehunter Member Posts: 3
    Additional questions whose answers that would be helpful:

    Did you have a trade-in?
    What was your sales tax percentage?

    If you can think of any other import information, please let me know.

    Looking forward to your reply so that I can take the information into dealer.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, th83.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • treasurehuntertreasurehunter Member Posts: 3
    Hi Joe,

    Awesome deal!

    Can you please tell me $303 is with tax?

    Thank you!
  • ginterhelsigginterhelsig Member Posts: 8
    Car_man, or anyone for that matter, may I have the:

    24mo/10K mile residual and money factor numbers please?

    Thanks in advance.
  • thandamilkthandamilk Member Posts: 18
    Hi Car_man,

    Can you let me know please if Hyundai is supporting 24 month (10K or lesser) leases on any of the Sonata models? I'm interested specifically in the GLS or SE automatic. If so, would be intrested in the residual and MF.

    If not, any guidance on who else is currently supporting 24 month lease deals for cars in the $15K-$25K range would be much appreciated.

    Thanks, as always.
  • hsnychsnyc Member Posts: 12
    New to this forum and have to say...WOW! What a huge help in my research! Car Man....bravo to you. You deserve a medal - can't imagine how much $$$ you've saved everyone here.

    I'm in NYC, and was quoted the following yesterday from a Westchester dealer. Can anyone confirm they're providing me a) correct residual/MF info for Feb, and b) a good deal?

    2011 Sonata SE 2.4, no nav, no options, black/black
    12k/year, 36 months
    MF: .00031
    Residual: 56%
    (they said the program didn't change from January)

    MSRP: $23,560
    Sale Price: $22,000
    Tax (NYC): $869.23
    Acq Fee: $595
    Paying tax, acq, first month up front: $1,719.76

    Monthly payment: $255.53

    Appears to be a good deal...I'd like to squeeze out another $500 from the sale price, but they're holding firm and can't get a match anywhere else in close proximity.

    What do you think?
  • bmwnewbie530ibmwnewbie530i Member Posts: 36
    I can't confirm the residual/MF, but I can provide you the following as a comparison. I purchased a Sonata SE 2.0 with NAV and sunroof (black/black) on Long Island in December 2010. I paid $1,400 out of pocket and my payment (after tax) is $279.01 for a 36 mo. lease with 12k/year.

    So, I am paying $23.48 more a month than your deal, but on the other hand I get the Turbo and NAV/sunroof in return and I spent about $300 less out of pocket. I know its not apples to apples, but I think it's still a good comparison.

    The biggest difference between our deals seems to be the residual. Back in December '10, the residual on my 2.0 was 60%, and I believe the 2.4 was 58%...so it seems like quite a drop in the residual (down 2%) after only two months if your figure is correct. Also, my MF was .00068, resulting in an interest cost that is about 1% higher than your .00031.

    Based on the residual and MF you are quoting, I would like to see you get a monthly price of about $225 (maybe $240 at the higher end). Are you talking to a high volume dealer?
  • bmwnewbie530ibmwnewbie530i Member Posts: 36
    Sorry, I did my calculation wrong...I would like to see you get $245 (maybe $260 on the higher end), so your deal of $255 seems spot on.
  • th83th83 Member Posts: 164
    The residual on the SE Turbo is higher at 59%, so you can get it for the same payments as the SE 2.4 despite the higher sticker price. Just FYI.

    My local dealers are selling even base SE's for over $2k off sticker: $21,400 for an SE 2.4 and $22,900 for an SE 2.0T. Of course, prices vary depending on where you are. I'd look at truecar.com and Edmunds own TMV to see how you should negotiate the price of the car.
  • hsnychsnyc Member Posts: 12
    Thanks so much...very helpful.
  • hsnychsnyc Member Posts: 12
    Thanks for the info. I've been checking TrueCar but the prices posted just seem too goo to be true. The price may be very low, but I assume that's because the dealers will jack up their take with other fees.
  • griphongriphon Member Posts: 5
    Got a 2011 Sonata lease 36/mo. 12K.

    $230/month, including tax!

    450 dollars at signing... included first month payment and dealer + registration fees...

    what do you guys think?

    It's a GLS w/PEP2, floor + trunk mats and IPOD cable.
  • nnasbynnasby Member Posts: 7
    We just got a 2011 Sonata GLS A/T - only options were pearl white paint, cargo mats, carpeted floor mat and cargo net. MSRP is 21,390, sale price of car was under invoice at $19,100. Residual was 57%. 3 years/12k. We paid just under $2000 at signing (which was taxes, title, fees and 1st months payment). We got a $500 loyalty rebate and our monthly payments are $195.

    Seems to good to be true as we were getting quoted $193 for the Elantra. We walked in to lease the Elantra but they had none in stock and said it might be weeks before they get more.
  • balthozarbalthozar Member Posts: 5
    Guys, Currently there is a deal on the 2011 GLS for $2,399 Down, $199 a month for 36 Months that expires 2/28/11. I would love to take advantage of this deal, however, My 2008 Camry lease isn't up until 3/15/11 with a 2 week gap between the deal expiration and my turn in date.

    My question is, would I still be able to get a deal somewhat similar if I wait, or should I jump on this deal early and eat the 2 weeks?

    Thanks in advance.
  • oldboboldbob Member Posts: 41
    I am confident that the same deal will be available the following month. The poor weather in much of the country will no doubt make for some hungry dealers come spring.
  • griphongriphon Member Posts: 5
    $199 per month and $2399 down is NOT a deal at all. You're overpaying by about $1500. Put $0 down, have everything rolled in (just pay first month and registration fees) and if you can be around $220-230, then you've done well. Negotiate the price.... bring them down to 19200-19400 ... it's definitely doable.
  • tetovaritetovari Member Posts: 22
    Where is this dealer ? I was quoted like this :

    The 2011 Hyundai Sonata Se 2.0t

    $2,000 Down

    15k miles year

    $269.00 Plus tax

    Do you think is a good deal or not ? Or should I wait for the presidents days sale ? Thanks
  • balthozarbalthozar Member Posts: 5
    Its just the deal listed on the hundai website. I'm in Las Vegas. There isn't alot of competition out here due to only a few dealers around, so its hard to negotiate down further then the listed deal. What I usually do is negotiate via email with the internet salesman and 2 out of the past 4 leases we have picked them up in southern cali (while visiting family). Good example is we just got a 2011 Pilot for $369 month with absolutely $0 down for 3 years. Closest in LV was $450. I'm always about absolutely $0 down (including first month).
  • tetovaritetovari Member Posts: 22
    Congatulations : that's a good deal.

    I'm interested on the same exact car .

    Is that deal with fees and taxes inclusive and was there any money down ecxept the first month .
    I got a deal for 269+ tax with 2K down.
    Let me know what you think please
    Thanks
  • tetovaritetovari Member Posts: 22
    Thanks Balthozar
  • hsnychsnyc Member Posts: 12
    edited February 2011
    Follow up to my original post/question.....yesterday, I signed my lease at a NY dealer:

    2011 Sonata SE (Black/Black), no nav
    MSRP: $23,500
    Sale Price: $21,400
    36 mths/12k
    Down: first month, tax (westchester, ny), new plates, acq fee = $1800
    Monthly: $240

    FYI....I could have gotten a very similar deal for the Turbo given the higher residual on the Turbo right now, but have seen too much talk, including another Hyundai forum (and confirmed off-the-record by the dealer) that the Turbo's real-world gas mileage seems to be 10mpg on average worse than the SE (hovering at 20ish for most drivers). In fact, while I was doing my deal I overheard a Turbo owner talking to a service guy about having that very issue.
  • rabbit1860rabbit1860 Member Posts: 1
    Hi, glad to find another vegaser here : )
    When you leased from Cali did you pay cali tax or nv tax? how about the plate?
    thx
  • joe02joe02 Member Posts: 21
    So I didn't end up getting the $303 Limited Turbo I was quoted and told to come in on...They pulled a nice bait and switch.

    I was able to get a Black on Black Turbo SE with Navigation for $311/mo after taxes with 15k. $0 Down $0 First Month! So I only actually have 35 payments. I'm very happy with my decision, I love the nav unit(blows away what I had in my BMW, Idrive). Love the car and think I got a pretty good deal.

    Hyundai of Bradenton - Bait and Switch, stay away
    Hyundai of Wesley Chapel - Amazing service, no hassle!
  • tetovaritetovari Member Posts: 22
    You got a fantastic deal . I got my 2.0 SE b&b yesterday with $2510 down which paid all the fees including the first month and now I have left 35 months for 258.16 tax included . Considering that I dont have navigation I think I overpaid by 2K at least .
  • balthozarbalthozar Member Posts: 5
    NV Tax. Although, I didn't put anything down at all, so my first payment wasn't until 30 days later, they obviously applied the tax then.

    The Cali dealership gives you a "Trip Permit" to drive the vehicle across state lines. You are supposed to go immediately to the DMV to register the vehicle. We actually drove around in Cali for a few days after we got the car and then waited a day after we got back to go to the DMV.

    Whats great about this is you can actually, finally get more financial options.
  • luthanluthan Member Posts: 24
    just got a quote
    2011 Sonata Limited Turbo - no nav
    MSRP - 27,950
    INTERNET PRICE - 24,900 - no clue why INTERNET but whatever
    rate - .00031
    residual - 57%
    12k miles
    $0 down
    ------
    $337.10/month

    What do you guys think?
  • jdp2561jdp2561 Member Posts: 8
    luthan -

    Where are you located? Do you know if there is a destination fee included?
    If so, how much?

    I see you have $0 down - do you have to pay anything at signing such as 1st month's payment, acquisition fee, etc.?

    I just signed for the same car, except with nav & sunroof and I'm wondering what "fees" they are charging you - ? Thanks!
  • luthanluthan Member Posts: 24
    I grilled them a bit more and this is what I have (based in Illinois):

    This is Sonata LIMITED Turbo with NO nav, but sunroof comes by default

    MRSP.....$27,950.00
    PRICE....$25,400.00
    REBATE....$500.00
    TAXES........$1869.63
    ILL DOC FEE.....$156.08
    NEW PLATES......$219.00 you get them on the spot
    RATE........... .00031
    TERM...................36 MONTHS
    RESIDUAL.......... .57
    PAYMENT.............$337.10

    using the calculator I get $294/month, so I have no idea how they are getting $337/month. Followed up with them to get more info, but I specifically requested that all fees be included the first time. Obviously no surprise that I didn't get the info I wanted. Waiting for a response from them now. If i get $294, and please tell me if this is even possible, then I am 100% picking this up.
  • luthanluthan Member Posts: 24
    update:
    the dealer told me that the calculations for monthly payment are done by their system, and whatever i am using is wrong.
    was also told that I would have the 1st payment due at signing.
  • jdp2561jdp2561 Member Posts: 8
    luthan -

    Keep in mind that I am no expert on this, I've just done A LOT of research, and I dealt with about 8 dealers before I purchased my SE 2.0 w/ nav & sunroof - so I've heard it all - most gave me VERY different answers and numbers so it is very important to find the best dealer for you. Just some comments:

    - Be careful with a dealer who did not give you all the fees broken down the first time you asked (unless you're comfortable with their reply). Did they say before that it would be $0 "drive-off"? Why did they not tell you about the 1st payment due at signing?

    Ask what else - exactly - you will have to pay to leave with the car the day of signing - security deposit? DMV Fees? Acquisition Fees and/or Doc Fees? You should know what each charge is, and whether it will be rolled into the loan.

    Do your payments include tax? Sometimes they'll let you infer this, only to tell you it will be higher when they include tax (at siging of course). That could explain the difference in your numbers.

    DO NOT accept some vague answer about how they calculated your payments - ask them to send you the exact breakdown of all the numbers - if they do not or ignore your request - MOVE ON.

    And you should know that a dealer can always lower your price even more if they choose - my dealer paid my first month and all DMV fees (they were not rolled in to my loan), so I did not give them a penny the day I signed.
  • luthanluthan Member Posts: 24
    Told this particular dealer that I will take my business elsewhere. I liked the sale price but their magic numbers were getting pulled from you know what.

    Learned a lot through these forums so I think that the more dealers I will talk to, the better deal I will get. At this point it's fun actually, because I know the numbers and how to push them around instead of being a receiver of crappy treatment.
    Thanks for the insight, and I will keep updating my status.
  • patsoxfanpatsoxfan Member Posts: 4
    edited February 2011
    2011 Hyundai Sonata Limited w/PZEV Sedan
    was offered
    $265 month 35 months
    12000 miles
    265 at signing

    Trading 2006 sonata lx owing 4900 in good shape
    said was giving me 12000 for my trade
    should I keep looking?
  • jdp2561jdp2561 Member Posts: 8
    Exactly how I felt. Let us know how you did.
  • topgun7topgun7 Member Posts: 412
    Told this particular dealer that I will take my business elsewhere. I liked the sale price but their magic numbers were getting pulled from you know what.

    I think the key part missing is the drive off.. Acquisition fee is missing from your list of fee that the dealer has to charge you (a few hundred).. And the key is whether you have a zero drive off (i.e. all the tax and fee roll into your monthly payment) or you are paying all your fee upfront.. If you have zero drive off, I think the deal your dealer proposed is pretty decent.. If not you are right to walk out... Dealer can struture a deal with any payment you want so long as they can also charge you whatever upfront fee.. So it is important to know what the drive off is to evaluate the deal..
  • bolts858bolts858 Member Posts: 1
    So I'm trying to help my mom negotiate a lease for a 2011 Sonata limited with no turbo or nav. I'm just starting out contacting some dealers via email, and I'm trying to pay nothing or as little as possible down. Here is the quote so far, I feel it's not a good deal, but I need some input:

    2011 Sonata Limited Price: $25,725
    Nothing at all down total payment comes out to 409.28/mo with tax
  • luthanluthan Member Posts: 24
    really bad deal
    your price is higher than MSRP, the dealer was probably laughing after he gave you that quote
    i recommend that you read this forum with threads starting in january of 2011, thats what i did, and it gave me much better idea of what i should be expecting
    go to truecar.com and see what people are paying for this particular car in your area
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