Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Did you get a great deal? Let us know in the Values & Prices Paid section!
Meet your fellow owners in our Owners Clubs

Hyundai Sonata Lease Questions

1679111226

Comments

  • I would have to agree with this poster, although I think its hard to avoid the $595 Hyundai Motor Finance acquisition fee regardless of the state you are in. At least no dealer I spoke with would negotiate it. When I bought my SE 2.0 Turbo in December 2010, the residual for the Limited (no turbo) was 57%, it may have come down in 2011.
  • dan412dan412 Posts: 26
    Hi Joe,

    Thanks a lot for the feedback. I rightly sensed the dealer's numbers were off. I'd assume the residual / MF rates (from December) have not changed significantly.

    Using Truecar, there is an offer (from a dealer in NJ) for $24,380. I am simultaneously negotiating with a another dealer for the VW CC Sport DSG. If I get a reasonable quote, I'll forgo this one.

    Thanks once again.

    Dan
  • Here you go, jlopinto. Hyundai Finance's January buy rate lease money factor and residual value for a 36 month lease of a 2011 Sonata 2.0T Limited with Navigation and 12,000 miles per year are .00031 and 57%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I certainly do car_guy11.

    In January Hyundai is providing 2.9% financing for 5 years or 3.9% for 6 years or a special lease program on the 2011 Sonata.

    Hyundai Finance's January 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.

    The numbers for an otherwise identical lease of a 2011 Sonata SE Turbo are .00031 and 58%.

    If you were to lease either of these cars with only 12,000 miles per year, their residual value would be 1% higher.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi allroadanger. Hyundai Finance's January buy rate lease money factor and residual value for a 36 month lease of a 2011 Sonata Limited Turbo with 12,000 miles per year are .00031 and 57%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • joe02joe02 Posts: 19
    edited January 2011
    Car Man,

    Is the 57% residual for 12k or 15k on the limited turbo? I was quoted by a dealer 57% for 15k.

    If I was given incorrect information what is the resid for 15k?

    Thanks,

    Joe
  • Hey Car_man,

    First off let me thank you on behalf of the many readers in this forum for the invaluable information and consumer education you provide. It's just a suggestion, but it seems that monthly residual values and money factors are a commonly requested piece of information on this forum and others too. Typically, a poster requests this information for his/her specific trim level, lease term, and mileage amount. Amazingly, you have the patience to comply and reply to all! However, this inevitably results in a flurry of additional posts for alternate trim levels or different mileage amounts only to be repeated again the following month(s).

    Wouldn't it be easier to create a new sticky thread dedicated to just that information with just one or two posts each month detailing residuals, money factors, and available incentives for all trim levels, lease terms, and mileage amounts in one place at the same time rather than you responding to each specific request individually?

    Like I said, the info is great and always appreciated...just trying to make your life easier. : )
  • Thanks Car_man The post just before mine (415) you say
    "Hyundai Finance's January 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.

    The numbers for an otherwise identical lease of a 2011 Sonata SE Turbo are .00031 and 58%.

    If you were to lease either of these cars with only 12,000 miles per year, their residual value would be 1% higher. "

    First question: So the SE Turbo has better resid than limited turbo?
    Second question: Resid should be 59% on 12K limted based on your reply to (415) ?
    Third question: AMEX Auto Purchase has this car at $24078. How realistic is this when shopping? Dealers are telling me go scratch on that number

    When I plug these numbers into lease guide.com calc with $2K down payment is $218.67
    Thoughts? Sorry for the ramble
  • joe02joe02 Posts: 19
    I'll try to help you out...

    1. Yes the residual on the SE Turbo with 15k is 58%
    the residual on the Limited Turbo with 15k is 55%

    2. Correct, on an SE Turbo with 12k the residual is 59%

    3. Yes that is realistic maybe a little low, I'm getting $24,691 through Truecar.com in my area. You also have to remember the fees, $600 doc fee, 600 whatever fee (bs fees), + whatever else bs...so you'll have at least $1,200, prob more, in fees to roll in or in your case pay up front. Plus they have all the dealer add-ons which you don't need or prob even want which can be another 1-2k. This is also with no navigation.

    4. With 2k down, Sales Price of $24,691, 12k, $1,200 fees, 7% tax
    I'm getting around $195/mo.

    But why even put anything down...it's not really necessary on a lease. Zero down is $256.81/mo. By putting down 2k you are only saving $180 over three years. Would you pay $5 a month for three years to have $2,000 right now?

    Those are my thoughts. Great residuals and MF right now. Or you could do a limited turbo like what im working on for around $315/mo.
  • ypeype Posts: 3
    edited January 2011
    Hi All,

    I have been negotiating via email with 3 dealers in IL during the past week for a lease quote on this car. Of course, now I'm even more confused and was hoping to get some help from you experts out there. Here are the numbers for your review and comment:

    36 mo / 12K miles
    No Money Down

    Dealer # 1

    MSRP: $26,200.00
    Sales Price: $23,998.00
    MF: 0.00071
    Residual: 55%
    Monthly payment: $377.29

    Dealer # 2

    MSRP:$26,115.00
    Sales Price: $24,212.00
    MF: 0.00031
    Residual: 55%
    Monthly payment: $357.13

    Dealer # 3

    MSRP: $26,925.00
    Sale Price: $22,969.00
    MF: 0.00106
    Residual: 62%
    Monthly payment: $320.00

    I will appreciate any and all comments.
  • Joe_02
    Thanks for the info. The MF and resid changed a good deal (worse) from last month. I have 3 dealers getting me a 2.0T Lmted for 24072.

    The 2000 down is a work thing (stipend), its a use it or lose it.
    Net Cap cost of 23127
    @ 57% resid
    .00031 MF
    36 Mos/12K per yr
    231.12 month
    Sound about right
  • joe02joe02 Posts: 19
    Ype,

    Those aren't very good deals at all...I got a limited turbo for $303/mo. They should all take their money factor down to .00031. The residuals should all be the same. Seems like they are trying to get everything out of you they can.

    With a Limited, 15,000 miles you should be paying around $286/mo.

    Start off at truecar.com to find what you can get the car for. Negotiate the sales price then tell them you want to lease. Since you know the MSRP, sales price, MF, residual, tax rate, and fees(have those broken down) you can calculate what the payment will be and they cannot mess with the numbers.
  • Hi Gang,
    Just leased a Sonata no money down $262/mo. Nav, alloy wheels,
    driver side power seat. Did I do ok?

    Thanks,
    David
  • ypeype Posts: 3
    Hi Joe,

    Thank you for your reply.

    Can you please refer me to a specific online lease calculator that i can use (there are so many out there)? How did you calculate the $286/mo?

    I'm not sure if it makes a big difference, but if it is, how do I factor in the miles (12K vs 15K) onto this calculation?

    thanks a lot.
  • joe02joe02 Posts: 19
    edited January 2011
    Ype,

    I use this one, http://www.ridewithg.com/calculator/index.html

    You pretty much just plug in all the numbers.

    Residuals are typically listed for 15k, with the Sonata I believe when you go to 12k your residual goes up by 2%. So with 15k the residual is 55%, with 12k it is 57%. So its only $15/mo more for 15k.
  • joe02joe02 Posts: 19
    What model did you get? SE, Limited? Turbo? Miles?
  • Gls, 15k. Did I do ok? I'm getting worried now.

    Thanks,
    David
  • joe02joe02 Posts: 19
    Looks like a good deal. I'm getting $250 a month for a GLS, w nav, and 15k. I'm not sure how much the alloy wheels and power seat options add, but it seems like its in line.
  • clockerfieldsclockerfields Posts: 2
    edited January 2011
    Got (3) quotes for the above (prices are tax-inclusive) and $0 Down (nothing out/pocket); 12k/year
    36 Month Lease:
    Sonata Ltd. / Turbo / with Nav
    A) $399
    B) $366
    C) $350 - free oil changes including filter t/o lease and car wash

    Wondering how 'c' (first choice even before pricing) is so much lower . . .
  • joe02joe02 Posts: 19
    Clockerfields,

    For that car I'm calculating a payment of $315-325/mo depending on fees. Their numbers are prob all higher than this because they are charging you for dealer add-ons which you can negotiate out of. Tell them you are not interested in any of the add-ons. 'C' is lower but not great, I would try to get it for $320 a month, saving you $1080 over the lease.

    Joe
  • Thanks, what about taxes? The price is $329/month plus taxes (rounded out to $350) . . .
  • Say it ain't so Joe! You got a smokin' hot $303 deal on that Ltd. Turbo and u didn't share the nuts and bolts details of your big win? Let us hear about the stats please? I am still in the prep stage and won't put on the game face until later in the month. Thanks for all your contributions to the group!
  • joe02joe02 Posts: 19
    I had included taxes on my calculation.
  • joe02joe02 Posts: 19
    Matthaney,

    Yep got the deal.

    2011 Sonata Limited Turbo, no nav, Black on Black, 15k miles, and zero down!

    I had a sales price of $24,163. They offered me $359/mo with 12k miles, I said no way and how are you getting these numbers. It was all way over the salesman's head so he had me speak to the finance guy. The finance guy said it was so expensive because of the add-ons ($1,700 worth!)...I said I didn't care about the add-ons and the salesman said to not even worry about them and that I was getting the $24,163 price. So after me confronting them about that and some high fees they offered me $303/mo.

    My brother is also getting one from them so we ended up with an amazing deal.

    Let me know if I can help you out at all...They really hate it when an educated buyer comes in...haha. After my research I feel like I know more about how they do leasing and the numbers than they know themselves. Plus a degree in finance helps.
  • matthaneymatthaney Posts: 29
    edited January 2011
    Hey Joe thanks for the response!

    Way to stick to your guns!

    What was the sticker $$ for your 2011 Sonata Limited Turbo, no nav, Black on Black? Funny I want the same vehicle you got.

    Also you may have not been able to deduct the residual from the funny math they were giving you, but was it 57%, 58, or 59 that your final deal was based on? What in the world add-ons were they lumping in that made for an extra $1700? Want to avoid that pitfall if possible!

    And too was your $303 after sales tax? If so what was the figure before tax? Thanks for your words of wisdom!
  • Joe
    How ya getting these numbers on a lmtd turbo? I use the same calc you suggest and its 296 per month

    4. With 2k down, Sales Price of $24,691, 12k, $1,200 fees, 7% tax
    I'm getting around $195/mo.
  • joe02joe02 Posts: 19
    Allroadanger,

    Hmm must have done it too fast the last time. Now I'm getting $235 after tax and fees.
    I'm using:
    MSRP: $27465
    Sales Price: $23,691
    Fees: 0
    Term: 36
    Residual: 59%
    MF: .000031
    Sales Tax: 7% (thats mine)
    Miles: 12000

    I used your 2k down to wipe out the fees and lower your sales price. I believe that is the correct way to do it but not 100% positive.
  • Well we are closer to each other,
    BUT
    59% resid is not correct for lmtd Turbo from what I am reading lately on boards and what dealership says (57% is jan #)
    MF looks good at .00031
    Tax is 7%, mine too
    Miles is right
    1074 of My 2000 down goes to dealer doc/Bank Acq/DMV
    I was quoted 24072
    I come up with 230.50 month
    Our #s are real close. Problem is I need to be lower. May just go with the SE and skip the leather/Sunroof (Resid is higher and MSRP/sale price is lower down around 200.00 month for SE)
    Thanks for all your help crunching
  • joe02joe02 Posts: 19
    Now I know where we went wrong...When I read it and responded again I thought you were looking for an SE Turbo with Nav.
    You are right:
    MF: .00031
    Residual: 57%

    Yeah I'm getting the same numbers as you for the Limited Turbo with no nav.

    You would get a lot cheaper on the Turbo SE, residual is better. I'm coming up with around $190-200 after taxes with 2k down.
  • Hey Joe. I believe that the 36 month, 15k residual value for the 2011 Sonata Limited Turbo is 56%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • No problem, allroadanger. Yes, the SE Turbo's residual values are higher than the Limited Turbo's residuals are.

    The 36 month, 12k residual value for the Sonata SE Turbo SE is indeed 59%.

    If I was in the market for a new Sonata right now, I personally would shoot for a selling price of around $500 over invoice.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Thanks for the reply Car_Man.
    Is the residual value out there to be found by all of us on all vehicles? Is it public knowledge or something you have to know about? I have already used many of the resources suggested from posters and have found out just how much can (will) be saved on my next car! This could be another one of those resources if possible to post.
    Thanks again for all the great knowledge!
    AllRoadAnger
  • This is the only source I had for resid:
    http://www.ridewithg.com/index.php/category/lease-rates/

    But looking for sources of how they are gotten
  • 2011 Sonata LTD $307 /mo with only 1 mo and DMV fee out of pocket. 12K 36mos no extras nav etc.... Dealer is throwing in the oil changes. What do you think. I'm in NY State. Does anyone have a better deal in the tristate area?
  • Hi allroadanger. Unfortunately, I am not aware of any public source that provides accurate information on vehicles' lease programs to the general public.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Just wanted to share the deal I got after a lot of research using this forum and prices on truecar.com

    I now have a 2011 Sonata SE 2.0T black/black.
    MSRP: $25,110
    Selling price: $22,600

    First payment down, 35 payments remaining.

    $278/month.

    Good luck to everyone out there.
  • Awesome, proof that it pays to do your homework!!! thanks for sharing, thanks edmunds, thanks truecar. that's what's up! :shades:
  • The Sonata turbo lease I am looking at they want both. $599 for acquisition and $400 for disposition. Is this normal. I see people only talking about the $599 acquisition fee.
  • The disposition fee is there only if you don't buy/lease another Hyundai once this lease is up, but it is true for Hyundais. I asked the same questions, and found it to be true based on form members. So far that is the only item I am not happy with them. Are you looking at the SE or Lmtd Turbo?
  • marko711marko711 Posts: 10
    edited January 2011
    I am looking at the SE Turbo. Right now the lowest price with 0 down is $269 plus tax. The car comes with about $350 in options. The price is for 15,000 miles per year. All fees are rolled in 0 due at time of delivery. What does everyone think of this deal.
  • LASHAWNLASHAWN Posts: 303
    Soundsgood to me.
  • please let me know what you think about a $307 sign & drive for a ltd. MSRP of 26,400 selling for 23,400 no options... appreciate the info.
  • Lmtd non turbo is 22436
    lmtd turbo 24072

    In central NJ according to AMEX
  • Congratulations on getting your new Sonata, car_guy11. Thanks for taking the time to share the details of your lease with everyone. Enjoy your new ride!

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi there...my first post here!

    I'm an old hand at auto leasing, having leased from Honda (several times) and currently leasing from Toyota. For my next car, I'm thinking about Sonata, so this would be my first experience with Hyundai Motor Finance (HMF).

    I live in the Boston area and visit my family in Canada twice or three times a year. I am concerned by something I read on the HMF website:

    "Before taking a financed vehicle outside the U.S., you MUST obtain written consent from Hyundai Motor Finance. Please call Customer Service for further details and information."

    "Canada & Mexico - You will need written permission from Hyundai Motor Finance to visit these Countries with your financed vehicle ."

    "Leased vehicles are not allowed to be transported out of the country. Transporting to Alaska and Hawaii are possible upon approval from Hyundai Motor Finance."

    What the...? HMF forbids me from visiting my family? Or at the very least, makes me ask permission? Is this really true? "Customer Service" says contact a dealer. Local dealers don't respond. Something doesn't smell right.
  • kyfdxkyfdx Posts: 130,977
    I think my leases say the same thing (not Hyundai).. I just ignore it.. (not legal advice).. ;)

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Cool emoticon...I just now noticed them. :shades:

    I got out my Toyota lease, and sure enough I agreed "not to take the Vehicle outside the Continental United States or Alaska (except to Canada or Mexico for less than 30 days, if you have our consent and have provided us with proof of insurance.)

    At least Toyota allows me to take my leased vehicle to Canada. Hyundai, on the other hand, says "Leased vehicles are not allowed to be transported out of the country." Period.
  • I can't find the hyundai under amex maybe I'm doing something wrong.. But below 23K for ltd non turbo seems low...
  • Skip Amex. Its the exact same as truecar.com. Just go there.
  • Alright, I actually called Hyundai Motor Finance and spoke to (someone who said he was) a manager. He confirmed to me that a leased vehicle is not allowed to be driven into Canada. If Hyundai finds out that I drove my leased car into Canada, they will - get this - repossess the car.

    It's all so ridiculous. How would Hyundai even know if I drove my car into Canada? Perhaps if I got into an accident or committed a crime. And what would Hyundai do with my repossessed car?

    Strike two: There's no Hyundai dealer near me that's close to public transportation, so servicing the car would be inconvenient.

    Too bad. The Sonata sounds like a great car, and people seem to love it.
This discussion has been closed.