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Hyundai Elantra Lease Questions

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    leasequestionleasequestion Member Posts: 1
    I am looking at a 2011 Elantra Limited without navi 36 months, 15000 miles, lease. What is the lease money factor and residual value?
    Thanks for your help.
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    raskyr1raskyr1 Member Posts: 13
    Hey Car Man,

    Is the MF and residual for Feb different on a 2011 Elantra Limited with Premium package? The dealer is coming back with a monthly payment $50 higher than what I'm coming up with based on a 36 month lease, $2k down, and full MSRP. $22830

    Thanks,
    Rasky
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    sethoscopesethoscope Member Posts: 1
    Same here. Quoted $350 per month with nothing down. I'm coming out to $297. Something seems off here. MSRP $22830.

    Any info would be appreciated.

    Thanks.
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings to the very appropriately named leasequestion.

    Hyundai Finance's February buy rate lease money factor and residual value for a 36 month lease of a 2011 Elantra Limited with 15,000 miles per year are .00106 and 61%, respectively.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Rasky. The addition of the Premium Package has no impact upon this car's lease program.

    Car_man
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    raskyr1raskyr1 Member Posts: 13
    Thanks Car Man!

    Guess I won't be back to that dealer! ;)
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    leasingnoobleasingnoob Member Posts: 3
    Hello Car man,
    I am interested in leasing a 2011 elantra with all the bells and whistles. The Limited w/navi they claim it is 22880 retail. they quoted me 62% residual and payments of 282 + tax per month w/2500 down to me it seems quite high for this car so please let me know what I should b getting with this package and in the area of Petaluma, CA This does not include any other fees like acq fee or title or anything as far as I know.

    Thanks for your time!
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    leasingnoobleasingnoob Member Posts: 3
    Greetings again,

    I went back to check on the car they had and I tried to negotiate with them for a lower price, payments, or cash down and they woudnt budge on a single thing. Started with 1000 off and tried my hand at $250 off and they would not take a single penny off. They would not even make the 282 include tax. So please let me know asap what I should really exspect from a dealer because I think I might have to go elsewhere less they are on the spot with their quote. :sick:

    Thanks
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    jfontjfont Member Posts: 3
    edited March 2011
    Hello Car Man--
    I went to a dealership yesterday and put a deposit on an incoming 2011 Elantra Limited with Nav. On the paper work they gave us it shows a 61% residual and a money factor of .00146. I see that there were different money factors in February. Is this money factor that we were quoted correct? The total drive off is $800 and the monthly payment is $300.32 including tax for 3 years and 15k miles per year. Would this be the best payment we can get, or should we ask further? We have not signed the sales contract yet and won't pick up the car until next weekend.
    Thanks!
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome raskyr1.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi leasingnoob. I take it that this car's MSRP is $22,880. If so, then what is its selling price? This is a very important to know when leasing. The selling prices of leased vehicles are negotiable, just as if you were paying cash or financing them. Without this number it is much more difficult to tell how large a dealer discount you are being given, and in turn if there is any room left to negotiate. Let us know what this car's selling price is and I'm sure that either myself or another knowledgeable community member will tell you what they think.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jfont. According to the latest information that I have seen, Hyundai Finance's buy rate lease money factor for the 2011 Elantra Limited is .00106 for consumers who qualify for its top credit tier. Needless to say, this is lower than what you were quoted. If your credit is in good shape try to get the dealer to use the buy rate to calculate your car's payment.

    Did you negotiate this car's selling price? If not, then there's a good chance that you may be able to beat the dealer's initial offer.

    Car_man
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    jfontjfont Member Posts: 3
    Hi Car_Man--
    We had a price protection through a car buying program. The sticker price is $22,930 and we had a negotiated price of $21,493. We are only putting a minimum drive off of $800 down, and they gave us a monthly payment of $300.32 with the money factor of .00146 . When we go to pick up the car I will see if they will negotiate on the money factor. They had not run our credit yet when we saw those numbers. Thanks for your help!
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    adeelzqadeelzq Member Posts: 9
    I wanted to know if the lease offer on the hyundai website will actually be offered at the dealerships so will they change their numbers upon arrival for their customers. I want one with navigation i wish if they can offer a similar deal.

    Thanks.
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi adeelzq. You should be able to negotiate a deal that's similar to Hyundai's officially advertised payments without too much difficulty. In fact, I wouldn't be surprised if you were able to beat their advertised payments on a similarly equipped vehicle by negotiating a lower selling price.

    Car_man
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    aja10aja10 Member Posts: 8
    Hi CarMan,

    Could you please give me your opinion about the following lease deal I received today.

    2011 Elantra GLS w preferred package MSRP $18,550 (including ipod wire & floor mats)
    Selling price $17,000 residual 66% mf .00098
    36m 12k lease payment = $207 including Tax (NJ)
    Fees at inception: $1501, Bank Fee, Doc, MV and First Payment.

    What do you think? The selling price was from the Costco buying program.
    Does the residual and MF seem in line? Also, do you know if there are any rebates available at this time?

    One more question do you think it makes sense to put the inception fees into the lease (I did it before) instead of paying them all at once?

    Thank you in advance.
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    bbell40941bbell40941 Member Posts: 20
    Aja10

    Does your $207 payment already include the inception fees?
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    aja10aja10 Member Posts: 8
    Bbell40941,

    The $207 does not include the inception fees? I guess if I roll the fees into the lease the payment may increase by 10 - 15 dollars. I think I will call the dealer on Mon to get an exact number.

    What do you think of the lease quote overall?

    Thanks
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi aja10. The selling price and money factor that you were quoted look good to me.

    I don't believe that Hyundai is currently providing any cash incentives on leases of this car.

    I usually roll all of the inception fees that I can into my leases.

    Car_man
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    aja10aja10 Member Posts: 8
    Hi Car_man,

    Thanks for your response. I am currently deciding between the 2011 Elantra and a 2011 Civic LX. I think I am leaning towards the Elantra. Do you have an opinion either way? The civic quotes I received are about 15-20 dollars less but I feel the Elantra offers more for the money. Looking forward to hearing from you.

    Thanks
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi aja10. As someone who has previously had several Accords, I've always been more of a Honda than a Hyundai guy myself, but both the Elantra and Civic are nice cars. I actually have never driven the Elantra so I really can't compare the two.

    Car_man
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    bbell40941bbell40941 Member Posts: 20
    Something's not right.

    With that MSRP, selling price, mf, and years, and if you're not rolling inception fees (bank fee, DMV etc.) into the selling price, your payment before tax should only be $162.32
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    bbell40941bbell40941 Member Posts: 20
    Car man

    What do you have as the current mf and residual for 36 months on the Elantra GLS in Southern California?

    bbell
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi bbell. Hyundai Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Elantra GLS with 15,000 miles per year are .00076 and 66%, respectively.

    Car_man
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    hanesj75hanesj75 Member Posts: 2
    Hi Car_man,

    Can you please tell me the current MF and residual for a 2011 Elantra Limited in Indianapolis, IN (and if it's different, also Chicago, IL)? Additionally, for a lease originating with Hyundai Motor Finance, is it reasonable to assume (for the purposes of making an offer) that the only inception fees should be a $595 acquisition fee, first month's payment, and title/registration fees, i.e. no security deposit or other fees?

    Thanks for your help, appreciate it!

    -hanesj75
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi hanesj75. Hyundai Finance's April buy rate lease money factor and residual value for a 36 month lease of a 2011 Elantra Limited with 15,000 miles per year are .00115 and 63%, respectively for consumers who qualify for its top credit tier.

    I believe that your assumption about the money that is due at lease signing is correct.

    Car_man
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    bbell40941bbell40941 Member Posts: 20
    I just did a 36 month, 15K lease in San Diego, California on April 12.

    MF was .00076 and residual was 64% for an automatic (was told it would have been 66% for manual transmission).

    Did they change the numbers mid-month?

    Barry
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    flood80flood80 Member Posts: 1
    Hi there? My car was flooded and totaled earlier in the week and its all I had for transport. I'm looking to get a good deal on a Elantra GLS w/ automatic. Seems like the buy deals aren't good right now and dealers wont budge from MSRP. Looking at leasing but can't find the MF or residuals anywhere.

    Also, I keep reading current offers expire on May 2nd. Do lease deals tend to get better as summer approaches or worse?

    Thanks
    Flood Victim
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'm sorry to hear about your flood problem, Flood Victim. While it's difficult to say exactly what Hyundai will do with its future incentives in general I expect the deals on gars to get worse...perhaps much worse as the summer progresses. Not only fuel efficient vehicles like smaller are cars in more demand now that gas prices are over $4/gallon, but the Japanese tragedy has caused severe supply problems with a number of manufacturers. Low supply equals lower incentives and high prices.

    Car_man
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    cooperj112cooperj112 Member Posts: 7
    Car_Man,

    I would greatly appreciate if you could post the May MF and Residuals for the Elantra 12K per year in both GLS and Limited form

    Thank you
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    cblainez71cblainez71 Member Posts: 1
    I'm looking at leasing a 2011 Hyundai Elantra GLS automatic for my business. I'm live Springfield, MO. The MSRP is $18,500. Dealerships in my area can't keep them in stock and as a result will not budge from MSRP. I've been quoted a price of $194 a month including tax on a 3 yr/12k mile lease. This would require $1865 due at signing and would have a residual price of $12,142. The residual seems high to me, but I've never leased a vehicle before so don't know what to expect. Not sure how much room there is to negotiate, especially given the current demand for the vehicle. Any suggestions would be greatly appreciated.
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    johngtjohngt Member Posts: 19
    Are the May leasing program numbers available for the Elantra Limited?
    Thanks.
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    gmftw32gmftw32 Member Posts: 1
    What type of payment would I be looking at for an Elantra Limited with/with out navigation package? I think it'd be around MSRP 21,000 OR 23,000. 12 OR 15,000 Miles a year, with around $2000 down? Thanks! I'm located around the Chicago area.
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    skoorbmaxskoorbmax Member Posts: 11
    edited May 2011
    Yes, please, do post this.
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    blinkishere182blinkishere182 Member Posts: 1
    They were basically trying to rip me off. I didnt bother sitting down to chat. I told them to ball park what monthly payments would be on a A/T GLS with a $2500 trade in. And he told me it would be about $300 a month. Which basically means i would be paying $13,300 totall to drive a $16k car for 3 years.

    I live in New York. Can someone please give me a ball park number on what my monthly payments would be on a A/T standard GLS.

    Thanks

    -Jason-
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Cooperj112, Hyundai Finance's May buy rate lease money factor and residual value for a 36 month lease of a 2011 Elantra GLS with 12,000 miles per year are .00076 and 65%.

    The numbers for an otherwise identical lease of an Elantra Limited are .00115 and 62%.

    Car_man
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    hyelantra2011hyelantra2011 Member Posts: 2
    Just picked up a 2011 hyundai elantra gls with alloy rim and bluetooth package. sticker was $18,861.05. Agreed upon value was $17,525.00. 36 month lease 12k miles a year, $100.00 down, $225.85 a month which included the tax and tags, plus free oil changes and maintenance for 3 years. Residual value is $12,196.80. I can't provide money factor as i dont see it on the paper work, even looked for interest and could not locate. Please let me know how!!! :shades:
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    ckop27ckop27 Member Posts: 4
    I think you did really well on getting the preferred for $225/month. Just got a 2012 Hyundai Elantra GLS A/T for $0 down (besides first month payment) and $233 a month for 36 month 12,000 everything included. I've been trying to get a white one for the last three weeks and its been impossible. Every other dealer in the St. Louis area were asking $250-$270, and I talked to them all. Ended up going out to Columbia, MO. Residual was 67% and the money factor was .00150 (and they said that was tier 1, hard to believe). They waived the acquisition fee and I had a $400 college grad rebate. I think you may be able to do a little better if you're somewhere else but I had a time crunch so I had to take what I could get.
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    iwannagr8leaseiwannagr8lease Member Posts: 42
    edited June 2011
    hyelantra2011 wrote:
    "I can't provide money factor as i dont see it on the paper work, even looked for interest and could not locate. Please let me know how!!!"

    I hope I can help you out on this one: use the numbers you'll find on that consumer leasing act document you have.

    -add your adjusted cap cost and residual together
    -multiply the above sum by the term of your lease
    -divide the above multiplication into your rent charge

    The result should equal your money factor... if you desire the approximate interest rate, multiply the money factor by 2400.

    Let us know if this helps you out...
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    iwannagr8leaseiwannagr8lease Member Posts: 42
    edited June 2011
    Dear Car_man,

    Hyundai has continued their $199 lease offer from May into this current month of June for the Touring GLS Auto (I "think" I'd rather have the manual), but it still requires an $1800 cap reduction payment, which I want to avoid, and the missing information from their offer includes too many variables to figure out the money factor: they even state "Purchase option at lease end price negotiated at signing..." so even a residual is omitted.

    Are you able to provide any figures for the money factors and residuals - when they become available - for 12k/36 months for the four flavors of the Touring: the GLS Auto and Manual as well as the SE Auto and Manual?

    Thank you in advance for this information :)

    Sincerely, iwannagr8lease
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're absolutely correct, iwannagr8lease. Hyundai's June lease program is exactly the same as its may program was. Here's the information that you're looking for.

    Hyundai Finance's June buy rate lease money factor and residual value for a 36 month lease of a 2011 Elantra Touring GLS AT with 12,000 miles per year are .00155 and 58%, respectively for consumers who qualify for its top credit tier.

    The numbers for an '11 Elantra Touring GLS with a manual transmission are .00155 and 56%.

    The numbers for the Touring SE Auto are .00155 and 56%. The numbers for the Touring SE Manual are .00155 and 55%.

    When negotiating your deal on any of these cars, make sure to take advantage of the $750 cash incentive that is currently available on leases of them through Hyundai Finance.

    Car_man
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    cnote2cnote2 Member Posts: 140
    looking for 15k 36m lease. Any lease cash or rebates that can apply, northeast area.
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    buyer777buyer777 Member Posts: 70
    Great deal! Can I ask what dealer in NJ?
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    iwannagr8leaseiwannagr8lease Member Posts: 42
    Car_man, in part, wrote:
    "When negotiating your deal on any of these cars, make sure to take advantage of the $750 cash incentive that is currently available on leases of them through Hyundai Finance.

    Car_man, thank you so much for the fast and comprehensive reply, and it's TERRIFIC to learn about that $750 lease incentive as well!

    Your additional info brings up this question: would this $750 lease incentive work the same way, and replace, the $500 customer incentive Hyundai Finance is offering on a purchase, or is it a dealer incentive? I ask because Tru-Car is showing 515 holdback/750 dealer incentive/500 customer incentive on purchases.

    Again, thank you,

    iwannagr8lease
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    leasindealsleasindeals Member Posts: 1
    Went to a dealer in SWFLA and I'm trying to find out if their offer was in the right range.

    My credit is between 650 and 680. I wanted to put down $1000.00 and they say my monthly payments would be $246.00. The lease is 12K/36m. I think the interest rate was about 3.5% give or take.

    I wanted to pay 220.00 a month or less. Is this unreasonable???
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    chatteremailchatteremail Member Posts: 2
    Hi, there. Could someone tell me what current MF and residuals are on a 12/36 lease for this car would be? Thanks!
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey cnote2. Hyundai us currently providing a $500 cash incentive on leases of Elantra Touring models, but unfortunately nothing on Elantra Sedans.

    Car_man
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    cnote2cnote2 Member Posts: 140
    Need 36m and 39m money factor and residual for 15k miles a year. Thanks in advance, looking to finalize a deal this weekend.
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cnote2. Hyundai Finance's June buy rate lease money factor and residual value for a 36 month lease of a 2012 Elantra Sedan GLS with 15,000 miles per year are .00076 and 66%, respectively.

    Car_man
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    djdezdjdez Member Posts: 110
    Hi Car_man ...

    Wow, 66% residual on a 36 month lease? Is that correct?

    In any event, if you could post the numbers for July on a 2012 Elantra Limited that would be great! Looking for 36 month, 12k/year MF and residual.

    Thanks!
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