Lease quote for 2022 Elantra SEL

EmmanIwe

HI I'm new to car leasing, i just got quoted a $350/month lease payment for the 2022 Elantra SEL, the lease terms are 36m/12K miles With $0 drive off. The dealer quoted me a money factor of 0.00182
i asked why such a high markup and he said that is what is set by Hyundai motor finance. I am not sure if this is true or not and i can't find anything on this. I have a 755 credit score although i have a relatively new line of credit. He is not budging on the price but i can't shake the feeling that i am being cheated on the money factor. the problem is I haven't been able to find someone who can beat that in my area.

any insight would help a lot, thank you

Michaell

EmmanIwe said:

HI I'm new to car leasing, i just got quoted a $350/month lease payment for the 2022 Elantra SEL, the lease terms are 36m/12K miles With $0 drive off. The dealer quoted me a money factor of 0.00182
i asked why such a high markup and he said that is what is set by Hyundai motor finance. I am not sure if this is true or not and i can't find anything on this. I have a 755 credit score although i have a relatively new line of credit. He is not budging on the price but i can't shake the feeling that i am being cheated on the money factor. the problem is I haven't been able to find someone who can beat that in my area.

any insight would help a lot, thank you

What is your location?

The dealer can mark up the MF by .00040, if they want.