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Hyundai Sonata Lease Questions

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Comments

  • Car_man,

    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.
  • I received information on a lease from a local dealer this morning. I was told that the current info for 36 mo 15k miles/yr lease on a Limited with Nav is 57% and .00068. Is this dependent upon locality or are the dealers providing (intentionally or unintentionally) incorrect information?

    Thanks.
  • So now this is the fourth set of numbers being thrown out for October. What is going on?
  • Sorry for the confusion everyone. I just made a few calls and found out the following.

    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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • ortegaortega NJPosts: 90
    Got it for $305/mo, 15k miles/yr, 36mos. Sonata Limited with Navigation, wheel locks, iPod cable, & floor mats - $28,300 MSRP. Got it down to $25,100 cap cost, $1,550 out of pocket. I think I got a pretty good deal for my area (Northern NJ). Color is black w/black interior. White was my first choice, but it appears that white, in the limited anyway, is impossible to find around here.

    Thanks to CAR_Man for keeping the salesman honest!!
  • Hi. I went to a dealer in Orange county and he gave me a rate for leasing a GLS. Please let me know if this is a good price to pay. He didnt give me the full workout, but just gave me rough figures.

    GLS with popular package is:
    290/month after tax with a 800 driveoff and I believe its for 12k/yr. Is this too high?
  • pegasus17pegasus17 Posts: 536
    edited October 2010
    REF: 313
    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)
  • Ortega....

    Was the $1550 OOP, first payment taxes and fees or was part of that a down payment?

    TIA
  • newbyenewbye Posts: 3
    Hi, does anyone knows the money factor and residual for the 2011 Sonata Limited (no extras except heated seats) based on 36mths/10kmiles/yr? I'm new, so can someone share what selling price i should negotiate for? Thanks.
  • Offer was: 3 year/45,000 mile lease for a 2011 Sonata SE with Navigation. .00068 money factor. I think the price was 24,800. $2100 trade in. Quoted $294/month. Am I in the ballpark for getting a decent deal? I think I could probably get them to lower to $275/month. Thoughts?
  • You're very welcome, ortega. Thanks for letting us know how everything turned out. Enjoy your new ride!

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Here's the information that you're looking for, newbye.

    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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • newbyenewbye Posts: 3
    edited October 2010
    Thanks car_man. I pulled the trigger with a super low deal. Got one just under $300 with zero down for the Limited. 36mths and 12k/yr lease in Michigan here.
  • No the residuals I posted are for the standard 12k mile program
  • bmwnewbie530ibmwnewbie530i Posts: 36
    edited October 2010
    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?
  • BUMP

    Can anyone verify the following for the Sonata GLS 15K/year:
    MF-.00047 Residual-59%

    Thanks
  • Thanks for your help everyone...

    I leased the White Sonata Limited w/nav, 28,650 list.

    nothing down $324 a month (plus taxes)

    I think I did good.
  • AXM23AXM23 Posts: 64
    When you say 0 down, do you mean nothing out of pocket? Or did you pay fees and taxes out of pocket but no additional money down to reduce the cap cost on the car?

    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?
  • AXM23AXM23 Posts: 64
    Does anyone know when dealers will receive the Sonata Turbo?
  • I've been offered the following deal on a 2011 GLS base model:
    $1500 down, $195/month, 12k miles/year

    What do you guys think?
  • I have the following deal on the table and would like to hear back whether it is consistent with other offers out there:

    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.
  • delta737hdelta737h Posts: 625
    edited October 2010
    danburydz,

    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
  • bmwnewbie530ibmwnewbie530i Posts: 36
    edited November 2010
    Still looking for clarification on residual and money factor, but since its now November 1st, I would appreciate receiving November's figures if they are available.

    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?
  • pulse4000pulse4000 Posts: 2
    edited November 2010
    hi - 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?
  • pulse4000pulse4000 Posts: 2
    edited November 2010
    hi - can you please anaylyze my deal and post your thoughts?

    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?
  • ansariansari Posts: 11
    Would you please check with your dealer and let me know the money factor they used for this price. Probably you can find on your lease worksheet ( not lease contract)
    Do you know how much taxes you are paying ??
  • gbdckcacgbdckcac Posts: 1
    edited November 2010
    Hi...Please let me know if this can be done.....I proposed this offer to 2 different dealerships...They have come close but haven't agreed yet.....Am I out of line??:

    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.
  • No problem, newbye. Congrats on your new ride. The Sonata is a really nice car for $300/month with nothing down.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi bmwnewbie530i. Here's the new November info for you.

    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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi omegaman5. Hyundai Finance's new November buy rate lease money factor and residual value for a 36 month lease of a 2011 Sonata GLS with an automatic transmission and 15,000 miles per year are .00047 and 58%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • cgbr4dcgbr4d Posts: 12
    I was quoted .00108 money factor for both an SE 2.4 and Se 2.0t. They did not run my credit but I assume I am top-tier as I am over 760 and I told them that. This MF does not match anything I have seen on here. This was for 36m/15k. Also the residual was 57% for the 2.4 and 60% for turbo.

    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!
  • ansariansari Posts: 11
    Visited a dealership in Northwest Indiana :Nov 6 ,2010
    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.
  • bhmr59bhmr59 Posts: 1,601
    I don't lease & really don't understand how the pricing works. But, I think a comparison of deals or "what kind of deal is this" would be easier to understand if the MSRP were included in the information in addition to the purchase price.
  • REF: 340
    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.
  • Does anyone know the Money factor and residual for both the SE turbo and Limited turbo without Nav for November?
  • Sorry, forgot to mention this is for 15k per year 36 month.
  • Well...not really a live deal but if I can get the car for this price does it seem like a good deal for a 2011 Sonata 2.0L Limited with NAV and Carpeted Floor Mats?

    $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?
  • Hi cgbr4d. The money factor that you were quoted is definitely too high. Hyundai Finance's November 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 .00068 and 57%, respectively.

    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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi All,

    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!
  • I have bee hunting for these numbers myself, so all I an tell you is what I have culled out so far.
    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?
  • Here you go, oliveakamomo. Hyundai Finance's November buy rate lease money factor and residual value for a 36 month lease of a 2011 Sonata GLS with 12,000 miles per year are .00047 and 59%, respectively.

    You can find the invoice pricing for this car over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Car_man i think youll see he specifies a turbo, not gls.
  • I spoke to a dealer in NY who told me the residual for November for the Sonata Limited Turbo was 61% for 12K/36 mo.
  • gforce11gforce11 Posts: 225
    If 61% that is correct for 36m/12k and the MF is .00068, this would effectively make the Limited Turbo a cheaper lease than the non-turbo Limited. I suspect the MF might higher because it wouldn't make sense to make the turbo limited cheaper than the non-turbo.
  • REF 352
    Remember that purchase price matters greatly in the lease calculation. Turbo will be much closer to MSRP than non-turbo!
  • gr81gr81 Posts: 5
    I am trying to determine if the following quote is a good deal. I ideally would like to be closer to $300 per month for the Limited Turbo. Are these quotes reasonable? Is my goal unreasonable? Any help would be greatly appreciated I need to close this deal by Friday. You may note that the Turbo ends up at the same price as the non-turbo. Thank you all

    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
  • REF: 354
    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).
  • Car_man oh car_man we need you for confirmation of resdiual and mf on 2011 sonata turbos!!
  • gr81gr81 Posts: 5
    Ohio

    MSRP - 27045 TURBO
    MSRP - 25295 NON-TURBO

    Both MSRP's are from Edmonds should I get this from the dealer
  • gforce11gforce11 Posts: 225
    Pegasus17:
    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.
This discussion has been closed.