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New Lease

photophoto Posts: 8
edited April 23 in Hyundai
Hello,
Is it possible to lease a 2020 SUV with 0 drive off? 36 months and 15K miles? I need help finding a good deal. Most quote are coming around $380 and up. I need to keep the monthly payment lower than $320/330

I have a 2017 Hyundai Santa Fe 7 passenger that the lease is up soon but I'm willing to switch to any other make
Thank you!

Comments

  • MichaellMichaell ColoradoPosts: 164,935
    photo said:

    Hello,
    Is it possible to lease a 2020 SUV with 0 drive off? 36 months and 15K miles? I need help finding a good deal. Most quote are coming around $380 and up. I need to keep the monthly payment lower than $320/330

    I have a 2017 Hyundai Santa Fe 7 passenger that the lease is up soon but I'm willing to switch to any other make
    Thank you!

    You can structure the lease any way you'd like - but, the less up front money you provide, the higher your payment will be.

    What state is this? In most cases, we recommend you pay the first payment and any state mandated registration costs when you sign the paperwork, and roll the fees (and taxes, if they are due up front) into the lease payment.

    If the payment is too high, you may need to look at a different trim level, or a different model.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • photophoto Posts: 8
    thank you Michaell. I'm in NY.
  • MichaellMichaell ColoradoPosts: 164,935
    photo said:

    thank you Michaell. I'm in NY.

    One change to my advice above - in NY, we also recommend you pay the sales tax when you sign the papers.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • photophoto Posts: 8
    Thank you, so what are the list of things I should pay without being rip-off?
    State taxes
    Plates and registration
    First payment

    Anything else?
  • kyfdxkyfdx Posts: 170,607
    photo said:

    Thank you, so what are the list of things I should pay without being rip-off?
    State taxes
    Plates and registration
    First payment

    Anything else?

    That's it

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

    Edmunds Moderator

  • PapaJMFPapaJMF DCPosts: 4
    photo said:

    Hello,
    Is it possible to lease a 2020 SUV with 0 drive off? 36 months and 15K miles? I need help finding a good deal. Most quote are coming around $380 and up. I need to keep the monthly payment lower than $320/330

    I have a 2017 Hyundai Santa Fe 7 passenger that the lease is up soon but I'm willing to switch to any other make
    Thank you!

    I'm in DC and have a similar question. Looking to lease a 2020 Sante Fe SEL 2.0T FWD for 36 mos / 10K and hoping to keep monthly payment to below $350. I have done my research but have not had much luck with local dealers. Wondering what I should be negotiating on: base capitalized cost? Is it possible to negotiate money factor? This forum gave me money factor of 0.00131 and 61% residual value. Dealer giving giving me same residual but money factor of 0.00171. MSRP is $37,460 with gross cap cost at $36,110. Up front payment of $500. Monthly payment of $510. I've read about the 1% rule -- is this just a urban legend? Thanks!
  • MichaellMichaell ColoradoPosts: 164,935
    PapaJMF said:

    photo said:

    Hello,
    Is it possible to lease a 2020 SUV with 0 drive off? 36 months and 15K miles? I need help finding a good deal. Most quote are coming around $380 and up. I need to keep the monthly payment lower than $320/330

    I have a 2017 Hyundai Santa Fe 7 passenger that the lease is up soon but I'm willing to switch to any other make
    Thank you!

    I'm in DC and have a similar question. Looking to lease a 2020 Sante Fe SEL 2.0T FWD for 36 mos / 10K and hoping to keep monthly payment to below $350. I have done my research but have not had much luck with local dealers. Wondering what I should be negotiating on: base capitalized cost? Is it possible to negotiate money factor? This forum gave me money factor of 0.00131 and 61% residual value. Dealer giving giving me same residual but money factor of 0.00171. MSRP is $37,460 with gross cap cost at $36,110. Up front payment of $500. Monthly payment of $510. I've read about the 1% rule -- is this just a urban legend? Thanks!
    A few comments about your post:

    1. The MF is marked up the max allowed by the bank; you want to insist on the base MF (they know what it is)
    2. 1% is more of a guideline than a rule - not every make and model has a lease program that will allow you to get to a payment of 1% of MSRP.
    3. Ask the dealer what the adjusted cap cost is for their quote - and find out what was added to the gross cap cost to get to the adjusted cap number

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • PapaJMFPapaJMF DCPosts: 4
    Michaell said:

    PapaJMF said:

    photo said:

    Hello,
    Is it possible to lease a 2020 SUV with 0 drive off? 36 months and 15K miles? I need help finding a good deal. Most quote are coming around $380 and up. I need to keep the monthly payment lower than $320/330

    I have a 2017 Hyundai Santa Fe 7 passenger that the lease is up soon but I'm willing to switch to any other make
    Thank you!

    I'm in DC and have a similar question. Looking to lease a 2020 Sante Fe SEL 2.0T FWD for 36 mos / 10K and hoping to keep monthly payment to below $350. I have done my research but have not had much luck with local dealers. Wondering what I should be negotiating on: base capitalized cost? Is it possible to negotiate money factor? This forum gave me money factor of 0.00131 and 61% residual value. Dealer giving giving me same residual but money factor of 0.00171. MSRP is $37,460 with gross cap cost at $36,110. Up front payment of $500. Monthly payment of $510. I've read about the 1% rule -- is this just a urban legend? Thanks!
    A few comments about your post:

    1. The MF is marked up the max allowed by the bank; you want to insist on the base MF (they know what it is)
    2. 1% is more of a guideline than a rule - not every make and model has a lease program that will allow you to get to a payment of 1% of MSRP.
    3. Ask the dealer what the adjusted cap cost is for their quote - and find out what was added to the gross cap cost to get to the adjusted cap number
    I got a pretty good deal on the 2020 Santa Fe SEL 2.0T AWD. MSRP was $38,465 and after much back and forth between several dealerships, I got a 36 mos / 10K lease for $385 per month with zero down, roughly 1% of MSRP. Thanks for all your help!
  • MichaellMichaell ColoradoPosts: 164,935
    PapaJMF said:

    Michaell said:

    PapaJMF said:

    photo said:

    Hello,
    Is it possible to lease a 2020 SUV with 0 drive off? 36 months and 15K miles? I need help finding a good deal. Most quote are coming around $380 and up. I need to keep the monthly payment lower than $320/330

    I have a 2017 Hyundai Santa Fe 7 passenger that the lease is up soon but I'm willing to switch to any other make
    Thank you!

    I'm in DC and have a similar question. Looking to lease a 2020 Sante Fe SEL 2.0T FWD for 36 mos / 10K and hoping to keep monthly payment to below $350. I have done my research but have not had much luck with local dealers. Wondering what I should be negotiating on: base capitalized cost? Is it possible to negotiate money factor? This forum gave me money factor of 0.00131 and 61% residual value. Dealer giving giving me same residual but money factor of 0.00171. MSRP is $37,460 with gross cap cost at $36,110. Up front payment of $500. Monthly payment of $510. I've read about the 1% rule -- is this just a urban legend? Thanks!
    A few comments about your post:

    1. The MF is marked up the max allowed by the bank; you want to insist on the base MF (they know what it is)
    2. 1% is more of a guideline than a rule - not every make and model has a lease program that will allow you to get to a payment of 1% of MSRP.
    3. Ask the dealer what the adjusted cap cost is for their quote - and find out what was added to the gross cap cost to get to the adjusted cap number
    I got a pretty good deal on the 2020 Santa Fe SEL 2.0T AWD. MSRP was $38,465 and after much back and forth between several dealerships, I got a 36 mos / 10K lease for $385 per month with zero down, roughly 1% of MSRP. Thanks for all your help!
    Congrats!

    Thanks for the report.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Michaell said:

    photo said:

    thank you Michaell. I'm in NY.

    One change to my advice above - in NY, we also recommend you pay the sales tax when you sign the papers.
    Why do you suggest also paying sales tax at signing vs rolling it in?
  • kyfdxkyfdx Posts: 170,607

    Michaell said:

    photo said:

    thank you Michaell. I'm in NY.

    One change to my advice above - in NY, we also recommend you pay the sales tax when you sign the papers.
    Why do you suggest also paying sales tax at signing vs rolling it in?
    In NY, the sales tax is higher if you roll it in. Sort of a tax on tax thing.

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

    Edmunds Moderator

  • kyfdx said:

    Michaell said:

    photo said:

    thank you Michaell. I'm in NY.

    One change to my advice above - in NY, we also recommend you pay the sales tax when you sign the papers.
    Why do you suggest also paying sales tax at signing vs rolling it in?
    In NY, the sales tax is higher if you roll it in. Sort of a tax on tax thing.
    Thank you
This discussion has been closed.