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Hyundai Sonata Lease Questions
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Comments
Thanks for the reply. However, I am getting conflicting numbers by my local dealers concerning these rates on a 36 month lease at 15k miles/yr.
One dealer is stating 55% and .00050 and two dealers are stating 56% but at .00068 money factor.
Are there regional differences that could be accounting for the discrepancies? I am in Florida if that makes a difference?
I'm hoping that you reply quickly because I wanted to make a deal by this weekend.
Regards.
Thanks.
36 month / 15k lease of a 2011 Sonata Limited: .00068 and 56%.
These are the correct new numbers for October. The previous information that I provided was September's program.
Car_man
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Thanks to CAR_Man for keeping the salesman honest!!
GLS with popular package is:
290/month after tax with a 800 driveoff and I believe its for 12k/yr. Is this too high?
It is too high and rough figures lead to ripoffs when it comes to leasing. I leased my GLS with PEP back in April when the residual was 60%. My payment including 6% Ohio tax is 225 and my driveoff was 300 (225 1st + 75 fees). I realize the residual is less but 290 is still too high. Consider the guy above you got a limited for 305 so the GLS at 4k less should be about $52 less per month or 253. Remember, when it comes to leasing, knowledge = power; Good Luck
P.S. My deal included a $500 military discount so excluding that would add another $14 per month to a 36 month lease. Your bogey is 267/month (assuming a 6% tax rate)
Was the $1550 OOP, first payment taxes and fees or was part of that a down payment?
TIA
Car_man
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Hyundai Finance's October buy rate lease money factor and residual value for a 36 month lease of a 2011 Sonata Limited with 10,000 miles per year are .00068 and 58%, respectively.
If I was in the market for this car right now, I personally would shoot for a selling price of around $500 over dealer invoice. You can look up this car's exact invoice price over in the New Vehicle Pricing section of Edmunds.com.
Car_man
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In following this chain, I'm getting a bit confused on the actual October residuals and money factors. Could you clarify them for 10,000 mile and for 12,000 mile / 36-month leases for each of the following vehicles?
2011 Sonata SE
2011 Sonata SE Turbo
2011 Sonata Limited
2011 Sonata Limited Turbo
Also, does Hyundai permit residualization of options such as NAV?
Can anyone verify the following for the Sonata GLS 15K/year:
MF-.00047 Residual-59%
Thanks
I leased the White Sonata Limited w/nav, 28,650 list.
nothing down $324 a month (plus taxes)
I think I did good.
If you can, please provide further details. I am in the market for the same car.
This is the quote I received:
2011 Sonata Ltd w/ NAV
12k year
36 months
$2,500 total out of pocket for $299 a month. I beleive I can do better. What do you think?
$1500 down, $195/month, 12k miles/year
What do you guys think?
2011 Sonata Limited Turbo - 36 months for $1,500 down (all fees/dmv - CT); 18,000 miles per year; $399 (includes 6% taxes). I've given up on reverse engineering the $'s at this point.
There is simply too much information missing for anyone to intelligently evaluate your deal. I suggest that you ask the dealer for their lease worksheet which is a computer generated document that will tell you everything you need to know and then some. Please don't let them plead ignorance by acting as though they don't know what a lease worksheet is because that's pure garbage. Every Hyundai lease contract must be submitted to the fund provider and MUST also include the lease worksheet that provides all relevant data (e.g., money factor, residual factor, etc); otherwise, the fund provider will not fund the lease. If they refuse, then I suggest that you RUN, DON'T WALK, to another dealer.
If you like, you can email this document to me at
[email protected]
and I'll be happy to analyze it for you.
All the Best,
John
Car Man,
In following this chain, I'm getting a bit confused on the actual October residuals and money factors. Could you clarify them for 10,000 mile and for 12,000 mile / 36-month leases for each of the following vehicles?
2011 Sonata SE
2011 Sonata SE Turbo
2011 Sonata Limited
2011 Sonata Limited Turbo
Also, does Hyundai permit residualization of options such as NAV?
down payment - $1500
monthly payment - $310 incl tax x 35 months
residual value - $15387
lease duration - 36 months and 12k miles per year
msrp - $25483
-------
i am not sure if this is the best deal out there..but this is the best deal i could get from all hyundai dealers i contacted.i negotiated price with all of them and got best rates written above..
This is my first new car and first lease ever..please let me know if i could have done something different or better...what do you guys think about this deal?
i just leased black 2011 sonata se model with nav and sunroof.Here is what i got it for:
down payment - $1500
monthly payment - $310 incl tax x 35 months
residual value - $15387
lease duration - 36 months and 12k miles per year
msrp - $25483
-------
i am not sure if this is the best deal out there..but this is the best deal i could get from all hyundai dealers i contacted.i negotiated price with all of them and got best rates written above..
This is my first new car and first lease ever..please let me know if i could have done something different or better...what do you guys think about this deal?
Do you know how much taxes you are paying ??
Sonata SE (no nav) 15k miles per year, 36 months
Dealer to pay off remaining 8 payments on 08 Altima. ($2400)
$750 total out of pocket from us.
$325/month.
Thank you.
Car_man
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Hyundai Finance's November buy rate lease money factor and residual value for a 36 month lease of a 2011 Sonata SE with 12,000 miles per year are .00068 and 58%, respectively.
The numbers for an otherwise identical lease of a 2011 Sonata Limited are .00068 and 57%.
I don't recall seeing a Hyundai Finance lease with only 10,000 miles per year.
I think that Hyundai Finance allows the full residualization of any factory-installed options.
Car_man
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Car_man
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Could I ask what the November numbers are for SE, SE Turbo, and Limited?
Also, are acquisition and doc fees negotiable, these total $1000?
Thanks!
This is the quote I got.
Please see if it is appropriate
Hyundai GLS 4dr Sedan (2.4L 4cyl 6A) with Popular package :
Sales Price :21500
Lease factor :0.00047
Residual : 58 %
Money Down : 1000 ( including first payment + title , doc fee, ) excluding registeration and plates which I have to do with BMV- Merrilville, IN
$280 including taxes
Any comments on this deal. Does it sound reasonable ??? I have not committed yet.
Sales price is much too high. Should be closer to 20k for the 21765 msrp GLS with PEP. Look at the dealer in Columbus, IN for price comps. Target payment should be closer to 240 than 280.
$290/mo. (before tax) for 36 mo. lease with $0 down and no trade in. Just paying 1st month and docs/fees at signing.
The current MSRP for this vehicle with the options I listed and the destination charge is $29,965 and the current Invoice price is $27,977. I based my calculation on a 57% residual and a 0.00068 MF for a 36 month lease with 12k miles/year.
The calculation assumes my negotiated cap cost is $26,075 or almost $2,000 below the invoice price. (again, no money down, no trade-in). Initially, that seemed too good of a price, since most of the good deals in this forum have been around $500 below invoice. I'm asking myself if everyone is getting $500 off invoice then why should I be able to negotiate $2,000 off invoice. But the $26,075 price I used in my calculation is the current selling price quoted on zag.com. So, technically, if a zag dealer is willing to sell it for $26,075, then a non-zag dealer should be willing to go even as low as $25,775 (reflecting the $300 payment to zag for the lead). Maybe the whole zag thing is a scam just to get you into the dealer's door when you get hit with additional "dealer fees", etc.
Am I kidding myself?
The money factor for the Limited is exactly the same, but its residual value is 1% lower.
I haven't seen the numbers for the SE Turbo.
Hyundai Finance chargea a non-negotiable $595 acquisition fee on every vehicle that it leases. Any doc fee on top of that is essentially padding that is being added in by the dealer. If you feel as though the total price that you are being charged for this car, including the doc fee is too high, try to negotiate a lower price.
Car_man
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Can someone provide the money factor and residual value for a 36 month 12k/yr Sonata sedan lease? The turbo model.
Also is invoice pricing info. available for these cars somewhere?
Thanks!
It looks like the SE turbo has a 60% residual for 12k, and 57% for 15k.
The limited turbo is 1% worse at 59% for 12k and 56% for 15k.
It also appears to me that the lease factor for all turbos is .00068.
I can't guarantee any of these numbers, hopefully someone else can confirm or negate these numbers?
You can find the invoice pricing for this car over in the New Vehicle Pricing section of Edmunds.com.
Car_man
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Remember that purchase price matters greatly in the lease calculation. Turbo will be much closer to MSRP than non-turbo!
2011 Sonata Limited Turbo
36 month lease: $339/mo.
$0 due at signing
Vehicle Cost: $25,620
Additional Fees: $910.00 Doc. fee $250, Acquisition Fee $595, Titling Fees $65
Lease Cost Total: $11,833.85
Residual Value: 59%
Money Factor: .00068
2011 Sonata Limited
36 month lease: $339/mo
$0 due at signing
Vehicle Cost: $23,990
Additional Fees: $910.00 Doc. fee $250, Acquisition Fee $595, Titling Fees $65
Lease Cost Total: $11,675.50
Residual Value: 57%
Money Factor: .00068
What state are you dealing in? What are the MSRP's of the two deals?
FWIW, doc fees are negotiable and are typically pure profit for dealers. Additional fees sound like a ripoff. Acq fee of 595 and title fees are necessary for a Hyundai lease. Also, know that there is a $400 disposition fee at the end of your lease (if it is a Hyundai Motor Finance lease).
MSRP - 27045 TURBO
MSRP - 25295 NON-TURBO
Both MSRP's are from Edmonds should I get this from the dealer
Based on what assumption? The Turbo is currently roughly the same discount (percentage-wise) as the non-turbo in big markets with plenty of competition.
This, in effect, should make the turbo cost nearly as much or maybe less to lease than the non-turbo, assuming the residual is significantly higher on the turbo.