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Hyundai Santa Fe Lease Questions

13

Comments

  • coltrane1coltrane1 Member Posts: 10
    Hi Car Man- still waiting on numbers from the Dealer!!! Amazing!!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome coltrane1.

    Car_man
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  • sgndensgnden Member Posts: 3
    Hello:

    Looking at a 2012 Hyundai Santa Fe GLS FWD 4 cyl. MSRP 24,600 they said they'd sell to me at 22,600 (after $400 college graduate discount). They told me it is 750 below invoice.

    Trying to decide whether or not to look at a lease for this car to keep payments low, but not sure if that's smart when we will keep this car for a long time (e.g. 8-10 yrs). They also have a 2011 AWD 4 cyl for 23,400 that has 4,500 miles on it.

    Are leases currently on the 2012's good enough that it makes sense to lease and BUY at the end of the lease? How do I calculate the lease payment?

    With the used market being so strong, it has me looking at new vs getting 2010 GLS 4cyl AWD in the $17k range. It's wearing me out! ;^)

    Thanks for any insight you can provide. Oh, I have great credit and can put $1000 toward somehting and want to keep a payment around $300 - $350.
  • rangersrock12rangersrock12 Member Posts: 1
    You should be able to get about $4,000 off MSRP for a 2012. I have had a couple of dealers offer me prices in that range.
  • sgndensgnden Member Posts: 3
    That is great to know. With $4k off MSRP, it really makes the used cars I am seeing that much less attractive. 2009-2010 AWD V6's with 30-40k miles are $20k ish.

    We'll see this week what I can get as a final cash price from any of the 4 dealers in the area. If I have the patience...I am burned out looking.
  • sgndensgnden Member Posts: 3
    2012 FWD SE V6

    MSRP: 27,650
    Selling price: 23,500
    36 mo 12k Lease money factor: .00115
    Residual: 55%
    Loan Int rate: 3.9% 60 mos

    If I am going to keep this car "forever" (10 yrs+) and I need to keep my payment as low as possible right now, is it silly to lease then buy at the end of the lease a these numbers?

    Thanks!
  • jmhjpjmhjp Member Posts: 11
    I really need you help guys to find out that I got a good deal yesterday leasing this vehicle.

    $3000 cash down with ($1000 in rebates -Loyalty and dealer coupon) $4000 Total

    Gross Capitalized cost $25148
    Capitalized cost reduction $2619
    Adjusted capitalized cost $23123.65
    Residual value $15999.10
    rent charge$1999.66
    total of base monthly payments $9124.20
    lease payments 36
    12.000 miles

    I added the basic care that it will take care of scratches , tires and other things for $860

    Total monthly payments $270 (taxes included)

    Is this a good deal? I don't know what to think..its my first lease and I was so tired yesterday and I really need a car. I need to go to the dealer to get the carpets and set up the bluelink but I'm waiting for a lease savy to help me out if this is something good of a deal.
    Thank you guys....
  • fireflyninjafireflyninja Member Posts: 2
    edited September 2012
    Just called my Plaza Hyundai Automall in Brooklyn, NY and got the following info:

    Santa Fe Sport 2.0T AWD
    Lease term(mo): 36
    Miles: 12,000
    MSRP: $32,925
    Money Factor: .00157 (3.768%)
    Residual Value: 62% ($20,413.50)

    Only thing left to do is get the price down to 30,000 or less :)
  • cary28cary28 Member Posts: 53
    I just put a deposit down on a fully loaded SF FWD with the 2.0T engine. Can someone review these numbers to give me an idea if I'm getting a good deal?

    MSRP: $34225
    Offer: $32300
    Incentive: $500, so net selling price is $$31800
    Lease term: 36 months
    Miles: 12000/yr
    Money factor: 0.0048
    Residual: 62%
    Monthly lease payment: $360.51 (does not include tax)

    The car is coming in first week of Nov, and the dealer doesn't think the rates will change since Hyundai does their rates on a quarterly basis. Thanks.
  • jelyzoabjelyzoab Member Posts: 1
    How much did you put down?
  • cary28cary28 Member Posts: 53
    edited November 2012
    I put down $3000, which includes the 1st month payment, license & fees. I think I miscalculated the lease acquisition fee of $595, which was added to the monthly cost over the life of the lease. By the time you add tax, which is a hefty $30/m, and with a 15K miles/yr limit, puts me up to $439/m in total lease payments.

    The 15K miles/yr also reduced the residual to 60% at the end of 36 months.
  • lablover2lablover2 Member Posts: 115
    edited November 2012
    msrp of $26,225 which included the popular equipment group, selling price of $24,110 which includes dest. and is way cheaper than any other quote which i find interesting. looking for a 3 year lease, don't want to put any money down except i will pay ttl fees out of pocket. 12,000 miles per year. hyundai has a 3 yr. lease special of $269 per month but it requires a downpayment,can't recall exact amounts right now. i live in a suburb of chicago-can i beat the $269 monthly payment? thanks
    ok, the special requires a down payment of $2999 which includes 1st months payment and $2730 cap cost reduction. i don't think i can beat it even with the low selling price
  • 1stbeemer11stbeemer1 Member Posts: 9
    Hi Car Man

    Indeed I have found your posts really useful. Can you help with MF and Residuals for the 2013 Hyundai Santa Fe Sports? Is there any difference between the 2.4 vs 2.0T. term is 36 mths and mileage is 15k mi/year. Thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'm glad that you've found my posts helpful, 1stbeemer1. Here's the information that you're looking for. Hyundai Finance's November buy rate lease money factor and residual value for a 36-month lease of a 2013 Santa Fe 2.0T Sport AWD with 15,000 miles per year are .00157 and 62%. The numbers for an otherwise identical lease of a Sport 2.4 AWD are .00170 and 63%.

    There is a $500 cash incentive on leases of this truck right now.

    Car_man
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  • 1stbeemer11stbeemer1 Member Posts: 9
    I was offered for the Sports 2.0T FWD, 60% and 0.00148. everything being equal, 62% and 0.00157 is actually a better deal. question is does the Residua and MF u mentioned apply to the FWD as well? or is it exclusive to AWD only. Appreciate your clarification. Thanks again.
  • sunshine1949sunshine1949 Member Posts: 3
    Hi Car Man: You always have great info. Leased a Santa Fe last year and with your help got a sweet deal! Need your help again. Need to lease another Santa Fe - I want the 2.0 Turbocharged FWD with 12,000 miles. Looking at one with MRSP of $28,975. Thanks!
  • faithkapfaithkap Member Posts: 2
    edited November 2012
    The other day my husband & I went to a local Hyundai Dealership to see the Santa Fe Sport, 2.0 FWD, 36 month lease. This price includes all three package options. It is fully loaded.

    MSRP: $32,220.00
    Residual: .61
    Miles: 12,000/per year
    With $2K Down: $396.13/per month
    With $5K Down: $306.13/per month

    Please advise if this is a fair price or do you have suggestions on how we can land a better per month price?

    Thank you,
  • 1stbeemer11stbeemer1 Member Posts: 9
    edited November 2012
    hi faithkap

    not sure where u located. i picked my SF 2.0T FWD today will full tech pkg 06 options with MSRP 34,250. Also got a tow hitch thrown in as well.

    The lease I managed to negotiate for 36 mths 15k mi/year, with $750 Hyundai loyalty rebate and $500 Hyundai rebate, was:

    Down $0, including first month
    Monthly $382 and some change (before tax) for 35 more months.

    This is the first time I really took the time to do my homework using all the valuable info shared by kind knowledgeable people like Car Man and also taking the time to shop 4-5 dealerships. it really pays off. Hope this helps.
  • faithkapfaithkap Member Posts: 2
    Thank you. We are in Maryland. Congrats on you
    new Santa Fe Sport.
  • rlhaase08rlhaase08 Member Posts: 1
    Those are great numbers. Where are you located and what dealer did you go to?
    I would've signed a deal today if the dealer near me made that offer.

    thanks very much for your input.
  • 1stbeemer11stbeemer1 Member Posts: 9
    sorry for the late reply. been out enjoying my new SF 2.0T. Go to hardin hyundai in Anahiem. Several of the dealerships around here were willing to match the deal ... only hardin was willing to add the tow hitch. good luck.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi 1stbeemer1. The numbers for the FWD are different than the numbers for the AWD model. I believe that the residual values are the same for both but the money factors are .00148 for the FWD and .00157 for the AWD.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks sunshine1949. Two Santa Fes huh? You must really like them :).

    Hyundai Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2013 Santa Fe 2.0T FWD with 12,000 miles per year are .00148 and 64% for consumers who qualify for its top credit tier.

    There's a $500 cash incentive on leases of this vehicle right now.

    Car_man
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  • gators4gators4 Member Posts: 7
    Hopefully someone can get back to me within 24 hours on this as I am planning on getting this Wednesday or Thursday. I think I got a fantastic deal but worth checking with you guys to see your input.

    It's a 36 month lease/12,000 annual miles.

    2013 Santa Fe 2.4L FWD, Black w/ Dark Gray Leather interior.
    Popular Equipment Package and Premium & Leather Package.($3,000 value)
    Free Oil Changes for life of Lease(and an additional 2 years after lease if I decide to buy)

    The lease on Hyundai's website is for $269/mo and its just the base model and that's with $3,000 down and doesn't include taxes, fees, etc.

    Here is the price I got per month and this INCLUDES all fees, taxes, etc.

    $308/mo. This includes $3,000 down($2,600 trade in + $400 cash)

    So what do you guys think?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gators4. It's difficult for me to comment on this deal without knowing what this vehicle's MSRP and selling price because I don't know what the payment should be like off of the top of my head. If you tell me what these numbers are I'd be happy to tell you what I think.

    One thing I can tell you is that you would be better off having the dealer cut you a check for any equity that you have in your trade rather than using the proceeds from it as a down payment for your lease. I always advice consumers to put as little money down as possible when leasing because if your vehicle is totaled in an accident or stolen and never recovered then your down payment might just disappear.

    Car_man
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  • gators4gators4 Member Posts: 7
    MSRP with all that on it is $29,500
    Purchase price would be $27,700

    I will have to look into the no down payment thing. I actually think I would get about $1,000 more out of the car that I'm trading it in if I sold it myself.

    After seeing the Purchase price what do you think about the $308/mo?

    Also, they told me now that I could jst put $2,600 down and then make my first monthly payment of $308. Before it was $3,000 down plus initial monthly payment.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information gators4. Let's take a look at the selling price that you were quoted. This vehicle has a spread of around $1,300 or so between its MSRP and dealer invoice price. Add to that the $500 cash incentive that is available on leases of it right now and you have around $1,800 or so to play with in your negotiations. Interestingly, that's the exact discount that you are being given, so I'd say that this is a very good selling price.

    Just make sure that the dealer is using Hyundai Finance's buy rate lease money factor of .00148 9top credit tier) to calculate your lease payment and you're in business.

    Ok yeah, and pay as little money at lease signing as possible.

    Car_man
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  • psu1226psu1226 Member Posts: 17
    Car_man, do you have any updated info on the residual and MF for a 2013 Santa Fe Sport AWD with 12k miles?

    Any ideas if the $500 cash incentive still applies for leases?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi psu1226. Hyundai Finance's January buy rate lease money factor and residual value for a 36-month lease of a 2013 Santa Fe Sport AWD with 12,000 miles per year are .00119 and 60% for consumers who qualify for its top credit tier.

    Yes there is still a $500 cash incentive on leases of this vehicle.

    Car_man
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  • psu1226psu1226 Member Posts: 17
    Thanks Car_man. I forgot to ask, what is the residual value for 15000 miles and whether there's a difference in the residual if you go for FWD.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome psu1226. Hyundai Finance's January buy rate lease money factor and residual value for a 36-month lease of a 2013 Santa Fe Sport AWD with 15,000 miles per year are .00095 and 56% for consumers who qualify for its top credit tier.

    Car_man
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  • agrewalagrewal Member Posts: 2
    Mr. Car Man,

    I am trying to determine the right lease payment for a 2013 Hyundai Sante Fe 2.0T with AWD (MSRP 32745, negotiated price 31745).

    I would like to lease with minimum miles (12k) over 36 month term.

    How do I make sure that the dealer calculates any down payment and lease appropriately? I understand what capitalized cost, money factor, and residual value are, but I'm not sure how to put everything together, especially in light of acquisition fees, taxes, and so on.

    Any guidance would be appreciated.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi agrewal. I can work up a sample lease payment on this truck for you to give you an idea of what to expect. Hyundai Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2013 Santa Fe 2.0T AWD with 12,000 miles per year are .00114 and 59% for consumers who qualify for its top credit tier.

    Using these numbers, an MSRP of $32,745 and a selling price of $31,745 (though given the $500 lease cash that's available on this model, this isn't enough of a discount for my taste), I estimate that this truck's zero down, pre-tax monthly payment would be around $404.

    If I was in the market for this model, I personally would shoot for at least another $500 off. That would lower the pre-tax payment to around $389.

    Car_man
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  • drdrakeramoredrdrakeramore Member Posts: 49
    Hello Car_Man,

    Can you provide some data on the (new) Santa Fe, non-sport: GLS and Limited AWD. Looking for the basics: MF, residual for 36 months and 12K miles. Also curious what, if any, incentives are out there for this truck (I can't seem to find any information).

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi drdrakeramore. I haven't seen a lease program for the non-Sport Santa Fe. Is it even out? I don't think that it's available yet.

    Car_man
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  • drdrakeramoredrdrakeramore Member Posts: 49
    Thanks, I found that out after I posted...my wife was taken with the ads during Super Bowl and I thought I'd get a jump on things. A bit of recognizance (with area dealers) told me that they don't even know when they'll be taking delivery...some delays in the pipeline, apparently. Unfortunate, as there seems to be a lot of interest right now. Thanks again!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome drdrakeramore.

    Car_man
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  • psu1226psu1226 Member Posts: 17
    Hi Car_man

    Thanks for you earlier replies. I have a couple of follow-up questions that I hope you can help me out with:

    1. As the year goes by, I assume that residual of the cars will be lower as we get close to the model year end. Do manufacturers counter the residual drop with lower MF to keep the payments on leases similar, or are you better of leasing early on? I'm hoping to lease by the end of the month, but I wanted to know what to expect if I decided to wait out to check the LWB version of the Santa Fe.

    2. Earlier this month you posted the following info on residual and MF: "2013 Santa Fe 2.0T AWD with 12,000 miles per year are .00114 and 59% for consumers who qualify for its top credit tier". I originally was going to go with AWD, but realized that I probably don't REALLY need it for my area. Can you let me know what the residual and MF is for for the 2.0T FWD with 12k and 15k miles.

    3. Do you know what are HMF current acquisition and disposition fees? Want to make sure I've got all of the fees covered :)

    4. I don't see a $500 lease cash bonus on hyundaiusa site. Is this promotion still on?

    Thanks again for all your help.
  • dbl315dbl315 Member Posts: 1
    Thank you for all of the helpful information. Can you please give me your thoughts on the following offer?

    2013 SF 2.0T Sport, Tech Pack/Premium Pack
    MSRP $34,310 (do not know the selling price yet)
    $1500 due at signing (includes first month)
    $379/mo (tax-in).

    I can probably get the dealer down to $369/mo., but want to use a slow February/end of month leverage to see if I can get away with $1000 down, $369.00 month.

    Thanks,
  • psu1226psu1226 Member Posts: 17
    Update:

    I was interested in leasing the 2013 Sante Fe 2.0T FWD w/ Tech package, but I couldn't find a color combination that I liked in my area. My dealer pointed me to a AWD model which had my top color choice combination (Mineral Gray / Black interior), so I decided to take that and pay up for the AWD. Here are the details of the lease:

    Vehicle: 2013 Sante Fe Sport 2.0T AWD with Tech Package
    Miles: 12k/year
    MSRP: $35,900
    Invoice: $34,067
    Purchase Price: $32,765.35 (Hyundai Circle Plan A through Hyundai Think Tank)
    Discounts:$750 Loyalty, $500 Lease Cash, $500 Motozuma matching
    Down payment:$500 (Needed it to get the Motozuma deal)
    Residual: 59% or $21,181 (Couldn't confirm with car_man)
    Money Factor: .00114 (Couldn't confirm with car_man)
    Dealer Fee: $200 (Maryland)
    Acquisition Fee: $595
    Taxes in VA = 3% (They tax leases on full price :( )
    Monthly $370.16 includes tax

    At signing: $370.16 + $500 Down + $118.5 Title and Tags (VA) = $988.66

    Car_man had posted that residual and money factor early Feb, so assuming they were correct, the numbers checked out. First time leasing, so I hope I didn't make a mistake somewhere.
  • is_statusis_status Member Posts: 20
    Hey car_man,

    Can you help me out? I'm looking to lease a 2013 Santa Fe sport 2.0T awd
    With the tech and leather package.

    Terms 36 month/15,000 miles a yr
    Msrp $35,645
    Invoice $33,965
    Purchase price $32,665
    Money down would be $500 plus first month payment
    Ny state taxes 8.875

    Can you give me an idea of what I should expect to be paying a month on a lease with these terms and taxes rolled in to the payments. Thank you!
  • fireflyninjafireflyninja Member Posts: 2
    Hi Car_man, everyone

    Here's the deal I was offered:
    2013 Santa Fe Sport 2.0T AWD Leather and Premium Package
    Mud guards
    Wheel locks
    Carpeted cargo mat
    Cargo cover screen

    MSRP 33255
    Term = 36mo
    Miles = 12,000/yr
    Sales price = 29,500 (includes 500 lease rebate)
    MF = .00114
    Residual = 59% (19620.45)
    Down payment = 1000
    DMV - 277.50
    Doc fee = 75
    Acq Fee = 595
    Long Island tax = 8.625%

    Monthly payment 377.19

    I feel like there's something wrong w/ the math I'm being given. Can you please advise
    Thanks!
    Eugene
  • carshopper98carshopper98 Member Posts: 2
    Hi Car_man,
    I am looking to lease a 2013 Santa Fe 2.0T, AWD with Leather and Tech package with no money down (except standard lease closing costs) in CT. Our state sales tax rate is 6.35%.
    MSRP= $34,800
    Destination. 845
    Total. $35,645
    12,000 miles/year
    CT sales tax 6.35%
    36 months
    $0 down payment (except for out of pocket fees - registration, lease acquisition, etc)

    Looking to close before March 30.

    Thanks,
    Ken
  • maphotomaphoto Member Posts: 1
    I am looking to purchase a 2013 Santa Fe 2.0T FWD with Leather package. MSRP is $28245, will be purchasing for $26,500. $0 down, looking for a 36 month lease @ 12k per year. CA sales tax is 9%
  • eturbo4eturbo4 Member Posts: 2
    CAR_MAN, king of all moderators (I mean it sincerely), I'm kicking around for any lease info on the Limited but there are so few in stock (Georgia's biggest Hyundai dealer has ... three of them, each already reserved) I don't know if there even a formal program just for GLS/Limiteds or if the $500 of lease case on the other trims applies. Anyone else who has tried to lease one of these things I'd really appreciate a capital cost number - I suspect demand/no inventory means these things are moving at very close to sticker (above sticker? For a Hyundai? Could it be?) until more inventory hits the lots... Thank you!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi is_status. Let's work up a payment on this vehicle for you and see what we come up with. According to my calculations, if you were to lease a 2013 Santa Fe Sport 2.0T AWD that has an MSRP of $35,645 and a selling price of $32,665 through Hyundai Finance right now for 36-months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $404.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Ken. This vehicle's lease payment will depend upon what sort of selling price you negotiate. If you provide me with that figure, or at least its dealer invoice price, I would be happy to work up a payment on it for you. You can find the dealer invoice price for this truck over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks eturbo4 :blush: .

    I believe that the $500 cash incentive is available on leases of all 3012 Santa Fe models. You're right, given the fact that the Santa Fe is brand new you may not be able to find any great deals on it for a couple of months. Don't worry though, they will eventually come. The halo effect of a new model doesn't last very long in the super competitive U.S. auto market.

    Car_man
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  • eturbo4eturbo4 Member Posts: 2
    So you've not seen specific residuals or MFs for GLS or Limited? Dealer came back to me with this set, which, based on what you've posted on top-tier credit for other Santa Fe trims, seem a bit modest:

    They said:
    Term: 36 months
    Miles: 36,000 miles
    Money Factor: .00130
    Residual: 57%
    Lease cash available: $500

    Other Santa Fes seem too have higher residuals and lower MFs... thanks if you know anything.
  • carshopper98carshopper98 Member Posts: 2
    Thanks Car Man,
    The invoice is for this car is $33,662 and the Edmunds true market value is $33,129.
This discussion has been closed.