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Hyundai Sonata Lease Questions

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  • luthanluthan Member Posts: 24
    talking with a dealer, much better than the last but the price is still not where i need it
    Limited Turbo no nav or any other options (at least thats what i requested)
    msrp - 28045
    sales price - 24750
    doc fee - 156.08
    county fee - 15.00
    acquisition fee - 595
    8% tax (doc fee is taxed as well) - 1994.98
    rate - .00031 (i am assuming here, not confirmed)
    resid - %56 - since i'm requesting 15k miles

    due at signing - 533.81 - includes 1st payment, title and licence plates, NO OTHER MONEY DOWN

    Monthly payments - $339.81

    When I use the lease calculators i am getting 308, so what am i missing here? i am willing to pay 310 for this particular car, no more, and 339 just seems way too high, when nothing else is listed in the quote.
  • bonefishpaulbonefishpaul Member Posts: 50
    I think you are missing the $720 destination charge. If you include that with the figures you presented, the monthly payment calculates to $340.62/mo.
  • fdic47fdic47 Member Posts: 4
    I just leased the very same car in red adding bumper applique, wheel locks and mud guards. It had mats, ipod cable, and cargo net. listed at $28235. I got paint sealant and leather protection along tire road hazard warranty. I had an 2000 Pontiac Sunfire worth $1000. They gave me $1500 plus $500 owner loyalty and am paying $225 on a 3 yr lease.
  • luthanluthan Member Posts: 24
    The destination charge was actually included in the 24750 price. However, I did the calculations with that charge added to the roll in charges, and still calculate the total to $329. How are you getting 340?
  • luthanluthan Member Posts: 24
    I am using this calculator: http://www.ridewithg.com/calculator/index.html
    With the following figures:
    MSRP - 28045
    Sale price - 24750
    Fees Rolled In - 766.08
    Term - 36
    % Residual - 56
    Money Factor - 0.00031
    % Sales Tax - 8
    Miles Per Year - 15000

    So again, the destination charge is included in the sale price. I would pay 1st payment plus title/plate fees at drive off which is about $550 total, but thats not going into the monthly price.

    I get 308/month. What am I doing wrong? Or is the dealer trying to get something out of me still.
  • luthanluthan Member Posts: 24
    i figured out my mistake. was not calculating taxes right. illinois makes you pay the tax on the whole whole car
  • LASHAWNLASHAWN Member Posts: 303
    How many miles on your trade in. I have similar vehicle that I will trade in for 2011 Sonata LTD 2.0T as well.
  • cosanostracosanostra Member Posts: 91
    Any information yet on leases for the hybrid Sonata?
  • luthanluthan Member Posts: 24
    what is the current residual and mf for 2011 sonata se turbo? thank you
  • balthozarbalthozar Member Posts: 5
    I just got my first lease offer:

    2011 Sonata GLS. $300 Down (1st Payment and Title), $266 Month (includes tax and doc fees). MSRP is $21495.00 Selling it to me for $19991.00. FYI, I have no trade in.

    What is doc fees? Is this a good/competitive deal?
  • luthanluthan Member Posts: 24
    Got the SE 2.0L Turbo w/ nav/sunroof + iPod cable, floor mats, cargo net, mud guards

    $25,035 included the destination fee
    After all taxes (8% for whole price - freaking Illinois), acquisition fee, and all it ended up being:
    $333/month
    Driveoff - $530 - 1st payment + plates + registration

    Feel pretty good about the deal. The car is phantom black with black interior and looks very slick.
    Not noticing any heavy left pull.

    This forum gave me confidence when haggling over email, and when I went to the dealer, the whole process was great. Went to Napleton Hyundai in Calumet City.
    Whatcha guys think?
  • patsoxfanpatsoxfan Member Posts: 4
    trade 60k
  • pleasantvillempleasantvillem Member Posts: 5
    Luthan:

    I have started pricing out a Hyundai Sonata SE with Nav. I'm looking to lease, 12K miles, probably just put down, first month payment and DMV fees and roll the rest into lease payment. Based on your experience, what kind of lease price should I look for? I'm in the NY area. So far was offered to put down first month payment, bank fee and DMV and then $299 month. Based on my experience, this is just a starting number. Also, do you know residual and money factor, and do you expect it to remain same in March? Any help would be appreciated.
    PleasantvilleMike
  • luthanluthan Member Posts: 24
    First and foremost you need to get the sale price from the dealer. That number will give you a good idea if you are getting a good deal. Also, make sure to know if the sale price includes the destination charge, which is in the $700 range. My sale price included this fee.
    Does NY make you pay taxes on the payments only? If so, I don't think you are getting a good deal. I was priced #24900 for SE Turbo with Nav, and since you dont have the Turbo, you should probably be able to get that car for about 2k less, maybe more, see what others are paying in your area with truecar.com.

    Get the price, make sure you know what is included in that price, check what others are paying, find out the taxing system in your state (whole car price or just monthly payments), use a lease calculator (google it), and figure out what your payments should be. I believe residual value is 58% and rate/money-factor should be 0.00031.

    Hope this helps
  • pleasantvillempleasantvillem Member Posts: 5
    Thanks Luthan. NY only makes you pay taxes on the part that you lease. The MSRP was $26,400. The dealer had indicated 24,300 including destination fee, so I agree I should be able to get something in the 23,000 range. I will also checkout Truecar.com. Thanks again for your help. PleasantvilleMike
  • luthanluthan Member Posts: 24
    yea, if I apply same sort of savings that I got to your car, I think you should be able to haggle down to $23500. Give them hell.
  • sally8563sally8563 Member Posts: 10
    Hey guys,
    Please let me know if this deal is good enough to make the final decision..it does not make sense to me..help please

    2011 Sonata SE Turbo 2.0T with no option

    MSRP: $25,050
    Final Price: $23,500
    Residual Value: The dealership said its 58% for month of Feb and it might go down in March for 56%?
    15K miles/year
    Connecticut Sales Tax: 6.5%

    Offered: $2,000 down $269/month inc. taxes, reg fee and dealer fee
    or $1,000 down $292/month inc. taxes, reg fee and dealer fee

    When I calculate it, I get $272 with $1000 down...

    Am I doing wrong calculation?

    Thank you very much!
  • luthanluthan Member Posts: 24
    make sure the final price also includes the destination fee. if it doesn't, i think its around 700 and would bring your payments close to 290 with 1k down
  • bhmr59bhmr59 Member Posts: 1,601
    CT's current sales tax is 6%. If the new big spender governor gets his way the sales tax will increase to 6.35%. On a major purchase, like a car, that 1/2% does add up. Don't let the dealer hit you for more than the tax actually is...it's bad enough at 6%.
  • luthanluthan Member Posts: 24
    haha, its 7% here in Illinois, and they make you pay for the whole car, even when you just lease, so please stop crying
  • bhmr59bhmr59 Member Posts: 1,601
    Luthan, without going too far off topic, we pay property tax on cars as well as our homes. We presently get up to $500 credit on our state income tax to offset some of the property tax. The new governor wants to eliminate that tax credit. Bingo, new $500 in tax, before all the other things to be added to the sales tax, like a haircut. Property tax on my 1450 sq ft home is over $6700 a year and I'm in a moderately taxed town.

    CT sales tax for a leased vehicle is on the whole car. I just didn't want the poster from CT to get ripped off 1/2% by the dealer claiming it was property tax.
  • jdp2561jdp2561 Member Posts: 8
    luthan -

    We exchanged info at the beginning of your search. So, in the end, it looks like we purchased the EXACT same car and options with just about the same deal.

    The only difference appears to be that while your payments are $11/month less than mine, my dealer instead paid all DMV fees and my first payment up front - so I didn't have to pay anything at all for "drive-off".

    I've evaluated and compared my lease deal A LOT since I signed, and I feel good about it and think we really did well - congratulations!

    This forum was a HUGE help with my search also. Thanks everyone!!
  • luthanluthan Member Posts: 24
    Awesome! Yes, I feel really good about the deal we got, and the car is great as well.
    Congrats to you as well, and this forum was a savior, I would have been a bit lost without it.
  • sally8563sally8563 Member Posts: 10
    Congratulations guys!
    I am working on SE Turbo as well, but without the Nav/Sunroof

    $1,000 down (include reg. fee, dealer fee and first month)
    $277/month (6% Tax in CT included)

    Do you guys think this is a good deal?

    And what is your quote for your SE turbo Nav/Sunroof?

    thanks!
  • luthanluthan Member Posts: 24
    my SE turbo with nav was basically $24902. There was another dealer 40 miles away or so that was offering $24800 (just to show how low they can go), but I decided to go with the former, just because of friendly service and overall good experience.

    always list the sale price when telling us about your numbers, as monthly payments don't tell the whole story, and if the dealer quotes you a monthly price, your next email to them should be "what is the sale price"
  • jdp2561jdp2561 Member Posts: 8
    I love the car too. My only "concern" is my low MPG after 1K miles - it's hovering about 20mpg. But I have definitely been testing the turbo (trying to stay under 6000 rpm for first 1K miles but c'mon it's hard!).

    Also, I'm in LA - almost all stop and go with very little highway - and I have been idling too much, as I sometimes work from my car.

    I know there's an MPG forum here and I'm following that. Plus, it IS a turbo - we can't have it all for this price. Never thought I'd buy a Hyundai but now I'm recommending to all my friends.

    If anyone is looking to buy or lease in Los Angeles area, I have a fantastic Sales Manager for you! Let me know.
  • beagle10beagle10 Member Posts: 5
    I have been working on a Sonata SE, 3 year/36K miles lease. Here is the best quote I got so far:

    Sonata SE:

    MSRP: $23510
    Selling price: $20,509 (plus $1,889 TTL)
    MF: 0.00031
    Residual: 56%

    I calculated the monthly fee myself, and it should be around $283. Is this a good deal?

    Are MF and Residual fixed for certain time period? I guess the only thing I can negotiate is the selling price and TTL?

    Thanks a lot!
  • joshcs1joshcs1 Member Posts: 9
    Anybody have info on the the insurance rates?
  • balthozarbalthozar Member Posts: 5
    I talked down a GLS to $300 Down; $260 (including taxes) a month. Seems like a lot more SE leasers here, but thought you guys oughta know!
  • sally8563sally8563 Member Posts: 10
    edited February 2011
    I went to 5 diff. dealers and I think I got the final deal..

    SE Turbo no option,
    $23,500 selling price
    58% Residual
    $1000 down (inc. first month, reg fee, dealer fee)
    $280/month including tax (6% in CT) for 36 months lease..

    Can I say GOOD to go? or still not good?

    Thanks!
  • luthanluthan Member Posts: 24
    edited February 2011
    i would go for 23k even. give that number and walk out, see what they do OR email another dealer, and see if they can beat 23,500 and i bet they will. keep doing that back and forth between 2 dealers until you get to 23k (they will most likely keep going down $100 at a time, they cannot go lower by large amounts)
    i paid 25k for the same car with nav and thats around 2600 below msrp, your car is around 25000 msrp, so shoot for at 2000 lower and see what happens. your WORST case is that you pay more than 23000 but less than 23,500. its a win/win. if you really want to push it, try to get 2600 below msrp, but that might be pushing it too far and make them angry
  • luthanluthan Member Posts: 24
    edited February 2011
    in the last message, i am assuming that the delivery fee is not even discussed, as it should already be included in the sale price
  • sally8563sally8563 Member Posts: 10
    I was shopping for SE too but SE Turbo has higher Residual Value, so that the monthly payment on Turbo is as same Reg. SE.

    Here is what I got so far..
    SE Turbo w/o options
    Selling price $23,500
    Residual: 58%
    MF: 0.00031
    Tax in CT: 6%
    $1000 down (first month payment, reg fee, dealer fee)
    $292/month for next 25 month.
    I still have a month to go with my Altima lease, $530 left to pay..dealer will cut me a check for $530 or subtract $15 per month from my monthly payment..

    so it end up $292-$15=$277/month..

    I think it is great deal, but not positive..
  • luthanluthan Member Posts: 24
    also, notice beagle10's deal

    Sonata SE:
     
    MSRP: $23510
    Selling price: $20,509 (plus $1,889 TTL)

    his selling price is 3k less than yours because you have turbo, BUT if you look at hyundai's website you will notice that Turbo SE is not even 2k more than regular SE, that means that you should NOT pay 2k more than he is, and you were quoted 3k more. math shows it, you should get a better deal
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cosanostra. I haven't seen anything on the Sonata Hybrid yet.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi luthan. Hyundai Finance's February buy rate lease money factor and residual value for a 36 month lease of a 2011 Sonata SE Turbo with 15,000 miles per year are .00031 and 58%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • hb_jphb_jp Member Posts: 4
    Hey Griphon, thanks for posting. Can you tell me what state you got this deal in? Tax rate?

    I'm in Cali looking for a Harbor Gray w/ gray int GLS a/t w/ PEP

    Thanks!
  • edgar_in_vegasedgar_in_vegas Member Posts: 10
    Dear Car_man:

    As you know, RV is typically expressed as a percentage (e.g., 53.5%), and we are told that this figure is set by the bank. My 2-part question is...

    1) Is it true that the RV is non-negotiable? and
    2) What is the RV a percentage of, MSRP or the negotiated Cap Cost?

    When working a lease deal, we are told that the Lease Money Factor (LMF) and the RV are established/set by the leasing institution and that neither is negotiable. If this is true, then it seems as though the only things we can negotiate are the Capitalized Cost and possibly the miscellaneous fees (Destination charge, doc fees, etc.), stated as "Total Add Caps (W)" on my Lease Info printout that the dealership gave me. Could this be true??

    I look forward to your reply. Thanks!!!
  • edgar_in_vegasedgar_in_vegas Member Posts: 10
    Hi Car_man: Do you have any lease info (e.g., Buy Rate LMF and RV) on the Sonata Hybrid? How about the true Invoice of the base model and the upgraded premium pkg model? Thanks!
  • fdic47fdic47 Member Posts: 4
    RV is a % of the MSRP and it's set by the leasing co. and so is the MF. The MF will be lower if your credit score is better. Mine was at .00085 which works out to about 2.5%. My deal on a Sonata Turbo 2.0 Limited with a $28000 MSRP including 9% lease tax in PA and adding mud guards, bumper applique, wheel locks, mats, cargo net, Ipod cable, warranty on wheels and tires, paint sealant, and leather protector. For 3yr 36 months with $500 owner loyalty credit a trade ($4000 + $1000 cash) $200 month
  • ahashmi1988ahashmi1988 Member Posts: 7
    I had a question, people are saying the Residual value for 12,000 and 15,000 miles are all the same 58%. That doesn't seem right?
  • fdic47fdic47 Member Posts: 4
    I got 57% on 12,000 a yr. My pyt would be about $6 more more for 15,000. Figure about 1% difference. The big part if you go over it will be 20 cents per mile for over mileage. I had a 2009 Sonata with 27 month lease and at the end it only had 19,000 miles. My bye out was $12,500 and we bought it for my daughter. I also like the ride in the limited better and the interior is nicer.
  • ahashmi1988ahashmi1988 Member Posts: 7
    I'm not sure if that makes sense? o.O Car_man quoted lease on a 15000 mi 36 month lease on a SE Turbo is 58%, if a 12000 is 57%, that means I pay more for 12k?
  • patsoxfanpatsoxfan Member Posts: 4
    I live in Mass and this is what I have been told for a Sonata Limited
    money factor: .00031
    resid: 55%
    ac fee is $595
    12,000 miles .

    Payments are 299 down 299 a month. 2000 down 250 a month.

    Not I have a trade which I have not brought into the picture
    2006 Sonata lx w 60k and in very good shape owing 4800

    I am not sure if this is a good deal. I have received all these figures sitting at my desk and have ventured to a couple dealers to test drive.
  • slim18slim18 Member Posts: 1
    I am looking at a 2011 hyundai sonata, limited, turbo with navigation, ipod cable, floor mats, cargo tray and wheel locks. With 2,000 down and 500.00 loyalty rebate, and including Govt. fees and taxes my purchase price is 27221.81. At 72 months with 3.9%, my payments will be 424.65. I can lease this vehicle. The MSRP is 30,390. Price is 28,114, residual is .56, residual value is 17018.40. With 2500 down and Govt. fees and taxes, my lease payment is 298.98 for 3 years and 15k miles per year. Any ideas whether this is a good deal? Leasing this car seems the way to go for me. Any suggestions? Thank you!
  • krishenzo1krishenzo1 Member Posts: 9
    Anyone know what lease prices I can expect for a '11 SE 2.0T with Nav Package? Will be looking to lease in the next month or so. Would like to put down not more than a $1,000 all inclusive, and I live in the Tri-State Area.

    Any help would be appreciated.

    Thanks
  • fred144fred144 Member Posts: 22
    Do you want to pay for 6 years on this car and spend $31000 or lease 3yrs. app. $9700 before taxes and if you want to buy then at $17018.40 you will only spend $26738.40. My car w/o nav. was $25500 with other euip. the same plus a tire and wheel warranty and paint and leather sealant. My residual was 57% $500 owner loyalty $4500 trade. I'm paying $209 month 3yr 12K in Doylestown Pa Fred Beans Hyundai
  • fred144fred144 Member Posts: 22
    Figure about $325 3yr 12k. If you need any help I know the dealer I use is very aggressive to give the best deal. There are a few that are real thieves and real whores.
  • seancar1seancar1 Member Posts: 1
    Hello,

    I live in So. California and I'm looking to lease a loaded Hyundai Sonata Turbo Limited.

    2011 Sonata Limited Turbo w/ leather, nav, sunroof (etc.) and excessive wear protection
    I'm looking to put:
    $2500 -- down
    12k miles
    36mos

    What is a good out the door price for something like this?

    Thanks for the help!
  • shukimshukim Member Posts: 1
    Just leased a 2011 Sonata SE 2.0T
    $270 down incl EVERYTHING
    $270/mo for 12K/yr @ 36mos
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