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What state are you located in? I'm in southern California. Looking for SE 2.0T base. I'm having trouble getting to that number with the dealers here. So far I've got a selling price of $23,200 + acq fee which would be $680 CA dmv & 1st mo's payment and pymt around $282. I don't qualify for the loyalty, military or college rebates.
thanks!
Thanks
What dealer did you use
2011 Sonata SE w/ Sunroof and Navigation package. $3500 trade + $500. 36 mth 15k. Oil change package. Cables, mats, nets included. Final payment 299/mth.
Any feedback is appreciated. Thanks, JBua
I'm trying to get a lease for less then $330 /mo with 36 mo 15k /yr with no more then $1000 to cover fees. I qualify for the $500 customer loyalty rebate but does this sound reasonable or am I asking too much?
Example: if you get a price with tax at $300 a month, tell them you want it for $250 (w/ tax included) and see where you go from there. I originally went in for a limited non turbo and when we decided on color they had it in a turbo and it was supposed to be $10 more a month. The residual was 2% better and after adding wheel locks, mudguards, bumper applique, tire/road hazard warranty, and paint and leather sealant, my payment was $20 less a month.
Vehicles' base money factors are set by banks but dealers are sometimes allowed to mark them up to add additional back-end profit to deals.
Negotiate as low a selling price as possible on the car that you want and then have the dealer calculate your monthly payment using its buy rate lease money factor.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
2.0T
15K/year
1000 downpayment inc. first month, registration and other
$278/month
I went to 3 different dealerships, and this was the final and the best quote.
Wheel Locks
Bumper Guard
Trunk Tray
All Weather Floor Mats
First Years Oil Changes and Tire Rotations Free
Rim and Tire Coverage Bumper to Bumper (flat tire, scratch rim, etc... even if its your fault, it gets replaced at no cost, no deductible, no copay-->Usually ~ $15 extra/mo but I am including it in my final number for those who really want to compare)
MSRP: $25,570
Down Payment $0.00
36months
15,000 miles/year
Monthly Payment: $288.50
Limited no turbo no nav.
msrp 26200
price 23480
owner loyalty -500
money factor is .00031
resid is 55%
595 ac fee included
so now I have 3 ways
2000k down
250 month
299 down
299 month
or turn my 2006 sonata 60 k in for 7000
so it gives me
2500 down
234 month
MSRP 21850
saleprice 19445
acq fee 595
adjusted cap $20579
residual 57% $12454
money F 0.0001
7% sales tax
$301 due at signing
$229 month
My lease:
MSRP: $25,570
Down: $0
Payments: $288.50
36months
15K miles
$288.50*36=$10,386 total payments
$10,386/$25,570 (MSRP)=0.4061 (lower the number the better)
Your scenario:
MSRP: $21850
Down: $301
Payments:$229
36monts
12K miles
$229+$15=$244 (brings you from 12K year to 15K a year-estimated)
$244*36=$8784
$8784+$301 (down payment)=$9085
$9085/$21850=0.4157
Still a good deal, in my experiences, anything below 0.43 (43%) is generally a good deal, anything above that, not so much, and if you are above 45%, you got porked.
Its simply a pure numbers formula.
Your calculation comes to 0.4046.
Buy that car and enjoy it...or step up to the Turbo and have some fun like us YF owners
"With $2000 down, your monthly payment would be $306.20 (this includes tax). The net cap cost is $24436. The residual is 56% and the money factor is .00031"
I pay less than that a month with nothing down and I have a Sonata YF Turbo, no Nav though, but my car MSRP is higher.
Tell the dealer to forget about it, with $2000 down you should be closer to $220-$250 range depending on your credit tier.
Your calculation using my methods above rings in at...
($306.20*36)+$2000=$13,023.2 and that is with only 12K miles I am assuming and no other features
$13,023.2/$24436=.5329!!!! =~53%
That is just ridiculous...think about this:
You are paying into the car 53% and your quoted residual is 56%
53%+56%=109%
well thanks for your reply, i am new to car buying and haggling.
Now remember those quotes are for Southern CA, i dont know where you live. I got on truecar.com and the lowest i got is 24,311.
I know i should push for more, but i dont really know what to say.
any help is appreciated.
Sell Price: 26,666
$0 Cash out of pocket
$3500 Trade in equity
$400 College graduate rebate (must be within 6 months of graduation or up to 24 months after graduation from an accredited 2 or 4 year college )
The $3,900 is dispersed as follows:
$2,910 Capitalized cost reduction (cash down)
$ 683 Taxes
$ 307 DMV
36 months 12,000 miles
Payment $249 tax included
I am in Boston. I checked Hyundai's website and the lease/finance options are actually identical. I also do not know you creditworthiness. That could have a lot to do with your tier and can range the prices by as much as $75/month.
First- I would suggest finding this out for yourself. This way if they say you are tier 3 and you know you can qualify for higher, you can throw it back at them.
Second- You should play the card of your friends or family in another area just got that car with different options (that is key) so they cannot look up the same cars for x price. Something either a little higher or lower than where you want to be relative to the value of the car.
Third- Do you qualify for any of the separate incentive offers? New college graduate? Work for the government? There are a slew of special offers. My gf works for CVS and she gets 10% any new GM car, check those
Forth- Do the math for yourself, and then do not use numbers in a dealership. If you begin to use numbers, they will do, and that is their job, they will run circles around you.
Fifth- Get a bank rate. Find out what the rate on a bank loan for you is, and use that at the dealership. They want you to use their financing options, and they should make it worth your while to do so if they want your business
Sixth-Remember, you can walk away anytime you want. Until you sign the dotted line CONSUMER IS KING. Read through ever bit of paperwork.
You have seen on this forum the prices paid by some people, you should be in the ballpark somewhere there. Your number is simply drastically off. I would probably not go back to that dealer, to give you a number like they did is very hard to take.
Hope that helps.
$249*36=$8964
$8964+$3500 trade in=$12,464
$12,464/$26,666=0.4674
Not that good.
Shoot to be under $230 and your getting closer...see above posts
Lease a 2011 Hyundai Sonata 2.4 GLS A/T for $199/month for 36 months, $2,399 due at lease signing ($2,200 customer cash down plus $199 for 1st month payment).
MSRP of $21,145.00 for 2011 Sonata (model #27402) including freight. Lease payment based on capitalized cost of $19,104.50. No security deposit required. Tax, license, title, fees, options and insurance extra. Monthly payments include $595 acquisition fee.
$199*36mo=$7164
$7164+$2399=$9563
$9563+tax/title/license/fees~$10,750
$10,750/$21,145=.5083
There is your real value, always read the fine print
I am in MASS... Can someone tell me what the Mar 2011 MF and Redidual factor are on a 2011 Sonata Limited 2.0T?
Thanks so much!
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
but this particular advertisement i'm referring to was $189/month, $0 down but excluding freight, tax, tags, and processing fee. http://www.collegeparkhyundai.com/assets/misc/4332/29132.JPG
so i called around. talked to three dealers that said they would do this deal. if it was just one dealer that said they would do the deal, i would somewhat doubt it. but since there are three, perhaps it is legit after all.
Pls share the dealership name ? Are you in south east / Atlanta?
This sounds like a good deal
the 306/month quote i got is with tax included. Does that change ur calculations?
$189*36=$6804
$6804+tax, tags=$8500 (assuming ~6.5% tax)
$8500+freight/dealer charge=$9350 (usually I would say this gets taken off the price of the car, but I would doubt it with this deal)
$9350/$19395 (MSRP)=0.482 <--not that good at all