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Hyundai Sonata Lease Questions

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Comments

  • pegasus17pegasus17 Member Posts: 536
    ref: 1070
    so she got a 2012 or a 2013 (they are very similar)?
    are you sure it was a Hyundai Finance lease?
    Your rationale on the down payment is incorrect. If she has an accident tomorrow (gf) and the car is totaled, any down payment is lost. That's the main reason you don't EVER put down a large payment on a lease.
    Deal is done so go enjoy the new car!
  • ablawandeablawande Member Posts: 3
    Point taken about accidents. Didn't think about that one before. And yes the car is a 2013 for sure, I checked the vin on hmaservice.com, I just don't remember if the rebate applied to the 2013s, or the dealer just gave it anyway. We were originally looking for a 2012 without navigation, but he couldn't find one in the color combination she wanted. Eventually he found us a 2013 in the right colors, but with navigation, since that's the only way to get the panoramic sunroof (Hyundai techs say that's how they could keep the base limited price reasonable, go figure). Dealer negotiated price was: $27,481 btw.
  • drjashandrjashan Member Posts: 9
    May I suggest that in future one more thing you can try --rather than applying 4000 bucks as "downpayment'',you can ask the dealer to use that money as a security deposit- that will lower your monthly payments plus it will comeback to you at lease end. That being said,I completely agree with Pegasus that putting so much down in a lease is a little tricky.But congrats anyways on the new car...enjoy!
  • drjashandrjashan Member Posts: 9
    Also- I got a 2012 SOnata yesterday as well. I need to add that this is only in 2013 sonata limited that you NEED to add navigation to get the panoramic roof... in 2012 all limiteds( with or without navi) had roofs
  • agottiagotti Member Posts: 3
    hi can someone please tell me if i over payed for a 2012 hyundai gls lease no money down
    48x 364 i have a few add ons like insurance products, tax, tags etc
    thank you
  • drjashandrjashan Member Posts: 9
    Need the following

    MSRP
    Capitalised cost
    Cap cost reduction
    Net Cap cost
    MF or Lease/Rent Charge
    tax % at your garaging location
  • agottiagotti Member Posts: 3
    hi

    msrp=26322.00
    cap cost reduction=2189.50
    lease/rent charge=364.36x48 months
    taxes=379.16
  • pegasus17pegasus17 Member Posts: 536
    REF: 1075
    First, the 2013's are already out
    2. Yes, you grossly overpaid
    3. I don't think you can load up a GLS to 26k
    4. Need residual % or value to compute exact numbers
    5. what insurance products do you need on a lease?
    6. was this a hyundai finance lease?

    FWIW, why post AFTER you made a bad deal?
  • agottiagotti Member Posts: 3
    first time lease for us and you are right i should have done more research before purchasing and it was a hyundai lease

    service contract, tire an wheel protection, ding dents wear and tear, simonize are all included in the price totaling like around 3000 for the 48 months

    total for vehicle is 23800
    thank you
  • pegasus17pegasus17 Member Posts: 536
    sorry to be so real but why do you need a service contract on a hyundai when you are fully covered for 5yrs/60000 miles on most items. Furthermore, hyundai charges $400 disposition fee at the end of the lease to cover minor wear and tear repairs. Depending on your state, if you are within 3 days of signing the papers, you may be able to UNDO some of this financial abuse 9$3000 worth). To help others on this board, you should post the name of the dealership so others know to stay away!
  • deb91deb91 Member Posts: 5
    I'm heading out the door to lease a 2013 sonata limited with no other package.

    I live in the 33322 area. Do you know about what I should pay? Or, what is the money factor and residual value?
    thank you.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello deb91. Hyundai Finance's May buy rate lease money factor and residual value for a 36-month lease of a 2013 Sonata Limited with 15,000 miles per year are .00223 and 58%, respectively for consumers who qualify for its top credit tier.

    There is a $1,500 cash incentive on leases of this car right now. Make sure to take it into account during your negotiations.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • dali52dali52 Member Posts: 3
    edited May 2012
    I am shopping for a car. I like Hyundai warrantees and it looks like you get more for the money. It also looks like the repair record is not bad, so I may get one soon. Does anyone have an opinion about the hybrid and non hybrid Sonata? What is the best deal one could get for a lease? Do they take trade in? My current car is an Audi 4, and although I loved the drive, I did not like the expensive repairs.. that keep coming by the way. If there is a good site that can give specific good information, please list it. Which year? 2013 or 2012? Any good offers anyone is aware of? A good dealer in Los Angeles or vicinity? I thank you very much for the information... ciao :)
  • pegasus17pegasus17 Member Posts: 536
    ref: 1082
    Carman,
    Need lease data on a 2013 Sonata GLS, 36 months, 12k per year:
    money factor, residual, cash incentives...
  • citicrktrciticrktr Member Posts: 1
    Carman,
    similar to post 1082

    Can you provide lease data on a 2012 and 2013 Sonata SE TURBO, 36 months, 12k per year:
    money factor, residual, cash incentives...
    Thanks.
  • piezonpiezon Member Posts: 23
    you got $5,000 off the MSRP on a 2013?? Wow.
    I'm looking at a white/tan 2013 Limited with the tech package because we want the panoramic roof & back-up camera.
    The sticker is 30050 and I'm being given a sale price of $27.250 which sounded good to me but I didn't sign anything yet. Where in Pa are you and what dealer did you get this deal from. I'd like to use this data to get a better price. Thanks
  • landofandlandofand Member Posts: 19
    What dealership is giving you this vehicle
    I would probably get on from them too
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi pegasus17. Hyundai Finance's May buy rate lease money factor and residual value for a 36-month lease of a 2013 Sonata GLS with 12,000 miles per year are .00223 and 62%, respectively for consumers who qualify for its top credit tier.

    There is a $1,500 cash incentive on leases of this car right now.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey citicrktr. Hyundai Finance's May buy rate lease money factor and residual value for a 36-month lease of a 2013 Sonata SE Turbo with 12,000 miles per year are .00223 and 64%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a 2012 model are .00130 and 60%.

    There is a $1,500 cash incentive on leases of both cars.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • tarheel818tarheel818 Member Posts: 1
    I'm exploring the advertised May Sonata advertised lease option of $199/mo w/ $2599 down for 36 mo/12000mi. I have a 2003 Taurus SES w/ KBB listing of 3500+/-. Does it make sense to use that as trade? I don't want much if any out of pocket. According to the NC state website, the tax rate on long term lease is 3%.

    lease details (copied from Hyndai:)
    "Offer shown based on $2,299 due at lease signing (includes $199 first payment and $2,100 capitalized cost reduction). No security deposit required. MSRP $21,570 (includes destination, excludes tax, license, title, registration, documentation fees, options, insurance and the like). Actual net capitalized cost $18,235.67. Net capitalized cost includes $595 acquisition fee'"

    What do I need to know? What is the lease rate faction and residual value percentage? How best to approach dealers? Should i wait until the last days of the month?

    I need to keep my lease payment at $220 or so. Thanks for any help you can offer.

    Sorry for so many questions, but I need to make the most imnformed decision I can.
  • fp54fp54 Member Posts: 3
    Hey guys. This might be my first post on Edmunds.

    Anyway, I was hoping to get your opinions on a lease I was offered:

    2012 Sonata 2.0 Limited w/o navi
    MSRP: $29,465
    Sale Price: $25,965
    Down: $2,000
    39 month lease at $364 per month
    - 12k miles a year (I don't use that much)
    - They would take care of my remaining 2 payments on an expiring Nissan Rogue SL (2x 359)

    I think it's a pretty good offer going by what I have read on here. Not too sure about the high down payment though. What do you guys think?

    Thanks!!!
  • maneyacmaneyac Member Posts: 1
    Hi Car_man,
    Would you happen to have the lease numbers on the 2012-2013 Sonata SE Turbo/w nav with 12k miles per year?

    Additionally, is the $1,500 cash incentive still active on these cars for the month of July?

    Thanks for all you do!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi maneyac. Sorry that it took me longer than usual to get back to you...I have been away.

    Hyundai Finance's July buy rate lease money factor and residual value for a 36-month lease of a 2013 Sonata SE Turbo with 12,000 miles per year are .00186 and 65%, respectively for consumers who qualify for its top credit tier.

    The numbers on a lease of an otherwise identical 2012 model are .00115 and 59%.

    There's $1,500 cash on leases of the 2013 model and $1,800 on the 2012 model.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • ack2ack2 Member Posts: 1
    Hi Car_man, would you be so kind as to provide updated lease numbers for August? I'm looking at the 2012 Sonata Hybrid w/ Ultimate Package. Is there still lease cash available this month?

    Looking at the 6% depreciation difference on the 12/13 SE Turbo, I'm wondering if I should wait for the 2013 Hybrid. Thanks in advance!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, ack2.

    Hyundai Finance's August buy rate lease money factor and residual value for a 36-month lease of a 2012 Sonata Hybrid with 15,000 miles per year are .00122 and 56%, respectively for consumers who qualify for its top credit tier.

    There is a $1,500 cash incentive on leases of this car.

    It's difficult to say what the lease program will be like on the '13 Hybrid, but I suspect that it will initially be at least a little more expensive to lease than the '12 model.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • dmunizdmuniz Member Posts: 39
    Hi, Can you please tell me the money factor and residual factor for the following in New York zip code 11003:

    - 2013 Hyundai Limited 2.0T 12,000 miles, 36 months

    - 2012 Hyundai Limited 2.4 12,000 miles, 36 months

    Also is it safe to assume to August lease deals will run into Labor Day?

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello dmuniz. Hyundai Finance's August buy rate lease money factor and residual value for a 36-month lease of a 2013 Sonata Limited Turbo with 12,000 miles per year are .00213 and 62%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a 2012 Sonata Limited Turbo .00120 and 56%.

    There is a $1,800 cash incentive on leases of the 2012 and $1,500 on the 2013 Sonata.

    Hyundai's current incentives program is actually scheduled to run through October. Of course it reserves the right to change it whenever it wants.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • dmunizdmuniz Member Posts: 39
    Thanks. But I think you made an error. You stated the same vehicle for both figures that you gave?

    Can you tell me which is for the 2.4 and which is for the 2.0T

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome dmuniz. The first numbers is for a 2013 Sonata Limited Turbo and the second set of numbers is for a 2012 Sonata Limited Turbo.

    The numbers for a lease of a 2012 Sonata Limited Non-Turbo are .00113 and 56%.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • dmunizdmuniz Member Posts: 39
    thank you car man...for some reason I couldnt see that you wrote 2012 and then 2013.

    Do you know the figures for 2013 limited 2.4 (non turbo).

    thanks again.

    your help made it possible to get a good deal on my mazda 3 yrs ago.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome dmuniz. Hyundai Finance's September buy rate lease money factor and residual value for a 36-month lease of a 2013 Sonata Limited non-Turbo with 15,000 miles per year are .00213 and 59% for consumers who qualify for its top credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • sladexsladex Member Posts: 8
    HEY I AM TRYING TO LEASE A 2013 HYUNDAI SE AUTO 4CYLINDER WITH NAVIGATION PACKAGE WITH SUNROOF AND BACK CAMERA BLACK ON BLACK. I NEED HELP FIGURING OUT IF THIS DEAL OFFERED TO ME IS GOOD I LIVE IN NYC BRONX

    CAP COST. 23,380 RESIDUAL OF 60 PERCENT 12K MILES MONTHLY PAYMENT 254.97 AND 0 DOWN JUST TAX FEES AND FIRST MONTH PAYMENT 1531.89. are this numbers good pls i need help
  • pegasus17pegasus17 Member Posts: 536
    ref: 1102
    no caps, pls. need some more info to evaluate deal
    msrp, purchase price, money factor, tax rate, doc fee
    Never, ever put down more than $500 out-the-door on a lease; too risky

    http://www.leaseguide.com/calc.htm
  • jasond02jasond02 Member Posts: 4
    Hi Car_man,

    Can you please tell me what the September money factor and residual are for a 2013 Sonata Limited Turbo with 12k/yr. on a 36 mo lease in zip 08003? Thank you for the help!
  • sladexsladex Member Posts: 8
    msrp 27,705 purchase price is 22816 mf-.00186 residual 62% monthly payment now is 240 from different dealer and 1500 inlcudes first month payment and fees including dmv and i am in the nyc area. thanks for your help how does this deal sound?
  • pegasus17pegasus17 Member Posts: 536
    edited September 2012
    REF: 1105
    $1260 in fees is ridiculous, even for NY. max doc fee is $75 and i believe they only tax the monthly payment. So, what are the other "fees" you are paying? I suspect they are having you pay the 595 acquisition upfront which is stupid. max o-t-d should be 500 or less. If you don't understand the reasons behind that statement then you need to do some more research before you lease...

    Also 4900 discount from MSRP is not possible on that car. If by chance your numbers are correct then that deal 1500 down + 35*240 is a good deal. Remember too that Hyundai charges 400 at the end of the lease (disposition fee)
  • sladexsladex Member Posts: 8
    thank you i am going to call the dealership and get some more clarification on what fees there are charging i didnt sign any deal yet and is the money factor and residual correct for 2013 hyundai sonata se with navigation. and i am aslo going to find out the sales tax thanks. i should respond to you shortly
  • sladexsladex Member Posts: 8
    hey here is the deal i am being offered what do u think of this deal msrp 27,705 purchase price is 23098 mf-.00186 residual 64% monthly payment is 240. 1500 down which includes first month payment(240) 595 bank fee,75 doc fee, dmv fees 297 and the tax rate is 8.875 i am in the nyc area. thanks for your help how does this deal sound? and is this the right residual and mf for this car this is for 36 months lease and 12k miles and i am in bronx ny area zipcode 10469
  • pegasus17pegasus17 Member Posts: 536
    REF: 1108
    Numbers are NOT correct. Using http://www.leaseguide.com/calc.htm I come up with 245 per month (225 + 20 tax = 245) . Out the door cost should be the sum of the fees you quote (240 + 595 + 75 + 297 (very High) = 1207 [not 1500])
    Note: The money factor of 0.00186 equates to 4.46% finance charge which is not good but may be what they offer right now.
  • sladexsladex Member Posts: 8
    i think .00186 is what they offer on that car now thats the number i got from a few dealers isnt this suppose to be a standard number. i ask the same question about the out door cost being 1207 and the answer was the rest was going to be used to cover some of the tatexs this is the best numbers have gotten so far. what do you think should be the next step from here. is there anyway u can find out about the mf. and is 64% the residual in my zip code are 10469. maybe i am not getting the exact number because i wasnt ready to sing the deal there and then. but so far this are the best numbers i got so is this a bad lease or what do u think.
    ps. are u saying that the 297 for the dmv fees are too high for new plates and registration? this is my first lease so sorry if i am asking too many questions. thanks in advance
  • ajr1775ajr1775 Member Posts: 33
    This deal looks very good to me. They gave you a good Residual....you could demand for a better Money Factor depending on where your credit is at. If it's in the upper top tier then go for it. However, looking at your purchase price it looks like this dealership is shooting pretty straight. Or, you drive a hard bargain. ;)

    Best way to get your payment down is to get a very favorable residual and the best possible purchase price; the two biggest factors in a lease rate assuming your credit is good.

    I live in Florida so I can't comment on the DMV fees. Here it's like $400.00 for a new plate!
  • sladexsladex Member Posts: 8
    so is it safe to go ahead with the lease?
  • sirjaredsirjared Member Posts: 13
    edited September 2012
    I'm really trying to get a great deal on a Sonata lease asap. I realize it might be a bit of an oxymoron to get a great deal fast as they often take time to properly negotiate. In any event, I was wondering if anyone had a lead on great promotion/incentive offer other than the standard ones being advertised. Also, where can I find the standard % used to calculate residual value on the Sonata in a lease deal? I'm not in a position that I can afford to finance buying the car new right now, so I'm trying to get a great lease deal based on a lower selling price with the intent on buying it out at the end. But one of the offers I got with a low payment, they just upped the residual, so this didn't work out so great for me in the long run.

    Any help/direction much appreciated!

    PS. I meant to mention that I'm on Long Island, NY
  • sewerrat1980sewerrat1980 Member Posts: 4
    edited September 2012
    Here is the deal I got yesterday if you want to use it as a benchmark:
    2013 Sonata GLS with Popular Package:

    MSRP $22,835 ($20,895 + $825 package + $340 for floormats, cargo net, etc +775 freight/delivery)

    Negotiated price of $19,300

    Total lease amount of $20,581 ($19,300 + $199 service fee + $595 bank fee + 248.60 first months payment + $238.40 DMV fees)

    Buyout of $13,929

    35 more payments of $248.60
    Money factor of 3.6%
    5.1% sales tax
    Sign and drive. I'm a happy guy, I think I got a good deal.
    The popular package is a freakin bargain for $825 (Fog logs, auto headlights, heated seats, alloy wheels, power drivers seat)
  • thetripleithetriplei Member Posts: 7
    Did you go through with the lease? If so, were there any final negotiations, or were all the numbers as you last said?

    I'm in NY, so I'm curious what dealer did you get your deal from?
  • thetripleithetriplei Member Posts: 7
    Car man,

    Do the numbers change if it's for a 12,000 or 10,000 mile per year lease?
  • sewerrat1980sewerrat1980 Member Posts: 4
    Yep, I got the car.
    I'm in Milwaukee.
    The lease numbers do change in a 3/36 vs 3/30 due to the fact that the 3/36 will have more depreciation.
    Mine was a 3/36
  • sladexsladex Member Posts: 8
    My lease deal msrp was 27,303 adjusted cost of 24,276.27 mf-.00125 residual was 60% mothly payment 270 900 down which included the dmv fees 300 first month payment 270 and the doc fee 75 and the tax rate was 8.875 12k 36months lease how does this deal sound?
  • mattndaymattnday Member Posts: 16
    My wife is seriously considering a lease of a 2012 hybrid base with Leather package

    MSRP - $28370
    Residual - $13900
    SIgn and Drive

    $256 a month 4yr/48k - they wanted $30-40 more per month for a 36 month lease.

    This seems like a good deal but I am not sure
  • thetripleithetriplei Member Posts: 7
    Will it affect just the monthly or the residual as well? It may be kind of dumb, but I don't know what's fair/expected or what is just a lie they'll tell you. I'm asking because I'm planning to buy the car out after (cant afford the payment if I finance it now) so I'm trying to see if I'd be better off paying for less miles in the lease (since I don't care if I technically go over or not) if the residual would be the same. Is one way better than the other?
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