2016 Hyundai Elantra Lease Questions

Michaell · July 2015

Ask your 2016 Elantra and Elantra GT lease questions here!

mittencuh · July 2015

Looking for the numbers for 10/36 on a base 6 speed Elantra GT. Thanks! Hopefully narrowing down my search after months of looking.

Michaell · July 2015

mittencuh said:
Looking for the numbers for 10/36 on a base 6 speed Elantra GT. Thanks! Hopefully narrowing down my search after months of looking.

.00008 and 60%. $300 lease cash.

ralora · July 2015

What are July's residual and MF for 2016 Elantra sedan Limited and Sport auto for 36mo./15k miles?

Michaell · July 2015

ralora said:

What are July's residual and MF for 2016 Elantra sedan Limited and Sport auto for 36mo./15k miles?

Limited - .00063 and 56%

Sport - .00116 and 57%

$800 lease cash.

ralora · July 2015

Thanks!

wallyworld2005 · July 2015

Hi, I am just wondering what questions we can ask here? I have questions about the lease details I was provided as well as to which credit score is pulled and used (is it a straight bureau score, or the auto enhanced scores) as I will be borderline 700 depending on which is used?

I was looking at a low end 2016 A/T Elantra Value Edition, however, if I am better off buying more car for better residual or some other suggestion I will certainly take it.

These are the numbers I was provided for the above model:

MSRP $20,855
Dealer Markdown/discount -$,1,345
Initial Cap Cost $19,510
Bank Fee $595
Rebates: $1,800 (currently a Hyundai owner, summer cash promo, and lease rebate/incentives)
Adjusted Cap: $18,305
LEV%: 59
Residual Value: $12,304.45
Downpayment: $0
Tax Rate: 6.5% (Massachusetts)
Term: 36 months
Mileage: 12k/year

I was quoted approximately $212.54 (which included tax) with $880.54 due at start which included inspection, title & tags, doc fee, and first month's payment. If I reversed engineered the MF correctly that ends up at 0.00109 or roughly 2.61%.

I was given straight 60 & 70 month finance price of $17,010 on the above vehicle (as it qualifies for an additional $700 in rebates somewhere). At a second dealer, the best finance (not lease) price I was given was roughly $500 less than the above deal, but I did not as of yet get any lease term numbers.

Any information or help would be appreciated. Thank you in advance.

Michaell · July 2015

wallyworld2005 said:
Hi, I am just wondering what questions we can ask here? I have questions about the lease details I was provided as well as to which credit score is pulled and used (is it a straight bureau score, or the auto enhanced scores) as I will be borderline 700 depending on which is used?

I was looking at a low end 2016 A/T Elantra Value Edition, however, if I am better off buying more car for better residual or some other suggestion I will certainly take it.

These are the numbers I was provided for the above model:

MSRP $20,855
Dealer Markdown/discount -$,1,345
Initial Cap Cost $19,510
Bank Fee $595
Rebates: $1,800 (currently a Hyundai owner, summer cash promo, and lease rebate/incentives)
Adjusted Cap: $18,305
LEV%: 59
Residual Value: $12,304.45
Downpayment: $0
Tax Rate: 6.5% (Massachusetts)
Term: 36 months
Mileage: 12k/year

I was quoted approximately $212.54 (which included tax) with $880.54 due at start which included inspection, title & tags, doc fee, and first month's payment. If I reversed engineered the MF correctly that ends up at 0.00109 or roughly 2.61%.

I was given straight 60 & 70 month finance price of $17,010 on the above vehicle (as it qualifies for an additional $700 in rebates somewhere). At a second dealer, the best finance (not lease) price I was given was roughly $500 less than the above deal, but I did not as of yet get any lease term numbers.

Any information or help would be appreciated. Thank you in advance.

The lease numbers on the 2016 Elantra Value Edition are .00069 and 59%. Dealer can mark up the MF for more profit; looks like that's what they did here. $800 lease cash is also available.

With your MSRP and adjusted cap cost, I get a payment of $200/mo after tax. So, the marked up MF is costing you about $12.50/mo or $450 over the life of the lease.

You might check with other dealers to see if you can get more of a discount from sticker before the incentives are applied.

wallyworld2005 · July 2015

Thanks very much. I believe that the $800 lease cash is part of the $1800 listed as rebates/incentives. $500 each for hyundai owner and summer cash promo and $800 lease (I think that goes to $1500 for buying).

Your advice about discount from the sticker before the incentives is what I got at Dealer B where I got the buy price to $19,000 ($16,500 after buy incentives) which is basically $500 lower that the dealer that quoted me the numbers above.

I do understand that the dealers have the ability to hide more money within the deal on a lease and as you have pointed out it appears that they have done that. Can you provide any other tips for negotiating the best deal? Is there any rough guideline of how far they will drop the price down of the MSRP sticker they will go or do I just keep haggling back and forth between dealers?

I also had the question about which score/bureau is used and whether or not it was straight bureau or the auto enhanced version.

Thanks again!

Michaell · July 2015

wallyworld2005 said:
Thanks very much. I believe that the $800 lease cash is part of the $1800 listed as rebates/incentives. $500 each for hyundai owner and summer cash promo and $800 lease (I think that goes to $1500 for buying).

Your advice about discount from the sticker before the incentives is what I got at Dealer B where I got the buy price to $19,000 ($16,500 after buy incentives) which is basically $500 lower that the dealer that quoted me the numbers above.

I do understand that the dealers have the ability to hide more money within the deal on a lease and as you have pointed out it appears that they have done that. Can you provide any other tips for negotiating the best deal? Is there any rough guideline of how far they will drop the price down of the MSRP sticker they will go or do I just keep haggling back and forth between dealers?

I also had the question about which score/bureau is used and whether or not it was straight bureau or the auto enhanced version.

Thanks again!

We don't track selling prices - use the "make / model / year" pull downs at the top of the page to help get the best pricing.

Getting multiple dealers involved will help you get the best price.

Don't know the answer to the credit score question.

wallyworld2005 · July 2015

thank you for all the detailed information it made the negotiation process much easier when they know that I know a good portion of their numbers.

I had been considering a 3 year lease but what I never thought to ask was if there is any sort of sweet spot in lease length? Should I consider a 2 year lease instead, or will the eventual payment numbers be relatively the same regardless of the term length (I do understand that the ELV% and MF may and should change). Nothing says I absolutely MUST lease for 3 years which is why I am asking.

Michaell · July 2015

wallyworld2005 said:
thank you for all the detailed information it made the negotiation process much easier when they know that I know a good portion of their numbers.

I had been considering a 3 year lease but what I never thought to ask was if there is any sort of sweet spot in lease length? Should I consider a 2 year lease instead, or will the eventual payment numbers be relatively the same regardless of the term length (I do understand that the ELV% and MF may and should change). Nothing says I absolutely MUST lease for 3 years which is why I am asking.

Most lease sweet spots are at 36 months; occasionally we'll see favorable MF or residual values for a 24 month lease (Nissan Leaf, for example), or 39 months (some Chrysler products in the past few months).

It all depends on the car and the trim level; as noted, you'd have to run both sets of numbers to see which lease length makes the most sense.

wallyworld2005 · July 2015

Ok, can you please provide the numbers on 24, and 39 months for a base Elantra with the value package and auto transmission?

On this specific car, I got 1 dealer down to $197/month including tax with $867 out of pocket (which covers first month payment, tags, title, inspection, and $498 doc fee) for a 12k/36 month deal which includes the first months payment on an MSRP of $20855 with the $1800 incentives. They said they are making $200 on the car total at that point as they have said they included the dealer cash and the holdback in the deal. I don't know if that is true or not...

The second dealer offered $189/month including taxes with $0 out of pocket making it a true sign and drive deal on a $20,885 MSRP on a 12k/36month deal. This dealer said they are losing money on the deal by covering the fees (tag, title, inspection and no doc fee).

Dealer 1 said they couldn't touch Dealer 2 pricing and said if that is the true deal I am getting it is a good deal. Your thoughts?

Thank you again

kyfdx · July 2015

wallyworld2005 said:
Ok, can you please provide the numbers on 24, and 39 months for a base Elantra with the value package and auto transmission?

On this specific car, I got 1 dealer down to $197/month including tax with $867 out of pocket (which covers first month payment, tags, title, inspection, and $498 doc fee) for a 12k/36 month deal which includes the first months payment on an MSRP of $20855 with the $1800 incentives. They said they are making $200 on the car total at that point as they have said they included the dealer cash and the holdback in the deal. I don't know if that is true or not...

The second dealer offered $189/month including taxes with $0 out of pocket making it a true sign and drive deal on a $20,885 MSRP on a 12k/36month deal. This dealer said they are losing money on the deal by covering the fees (tag, title, inspection and no doc fee).

Dealer 1 said they couldn't touch Dealer 2 pricing and said if that is the true deal I am getting it is a good deal. Your thoughts?

Thank you again

Don't see a 24 month program for the Elantra

2016 Elantra SE automatic. 39 mo, 12K/yr. .00057 MF and 56% residual. $800 lease cash.

wallyworld2005 · July 2015

Thank you. I signed the lease this morning 12k/36 with $900 out of pocket (doc fee, 1st month, tags and title) on an MSRP of $20855. My payment with MA taxes comes to $189.11.

Michaell · July 2015

wallyworld2005 said:
Thank you. I signed the lease this morning 12k/36 with $900 out of pocket (doc fee, 1st month, tags and title) on an MSRP of $20855. My payment with MA taxes comes to $189.11.

Congrats! Enjoy the new Elantra!

Rukman W · September 2015

Residual and money factor on Elantra limited with navi for 36/12 in NJ...?

thanks!

kyfdx · September 2015

namkur said:
Residual and money factor on Elantra limited with navi for 36/12 in NJ...?

thanks!

Sorry...no Hyundai information available to us.

moonwoo · September 2015

Do you guys have MF/LC/RV for SE and Sport both manual? Looking for 36/12 lease in MO. Thank you

Michaell · September 2015

moonwoo said:
Do you guys have MF/LC/RV for SE and Sport both manual? Looking for 36/12 lease in MO. Thank you

36/12 numbers:

2016 Elantra SE MT - .00021 and 55%. $1000 lease cash

2016 Elantra Sport MT - .00078 and 58%. $800 lease cash

moonwoo · September 2015

Sounds good. Thank you for posting.

moonwoo · October 2015

Have the numbers changed on the Elantras? If so, could I get numbers for 12000/36 for SE manual and GT manual? Thanks again.

Michaell · October 2015

moonwoo said:
Have the numbers changed on the Elantras? If so, could I get numbers for 12000/36 for SE manual and GT manual? Thanks again.

No Hyundai numbers this month, sorry.

moonwoo · October 2015

Gotcha. Thank you for the reply

harish_kumar13 · October 2015

Hi, Can someone plz provide me MF and RV for 2015 Hyundai Elantra 4dr Auto SE in NJ for current month... Also, is there any discounts going around on the price (Lease cash or bonus) and what is the criteria to qualify for that... Appreciate your help... Thanks in advance...

harish_kumar13 · October 2015

sorry forgot to add that I am looking for 12k miles 36 months

kyfdx · October 2015

harish_kumar13 said:
Hi, Can someone plz provide me MF and RV for 2015 Hyundai Elantra 4dr Auto SE in NJ for current month... Also, is there any discounts going around on the price (Lease cash or bonus) and what is the criteria to qualify for that... Appreciate your help... Thanks in advance...

Sorry, we didn't get the Hyundai lease numbers, this month.

Michaell · October 2015

moonwoo said:
Have the numbers changed on the Elantras? If so, could I get numbers for 12000/36 for SE manual and GT manual? Thanks again.

SE Manual - .00027 and 55%. $1500 lease cash

GT Manual - .00033 and 58%. $1250 lease cash

Michaell · October 2015

harish_kumar13 said:
Hi, Can someone plz provide me MF and RV for 2015 Hyundai Elantra 4dr Auto SE in NJ for current month... Also, is there any discounts going around on the price (Lease cash or bonus) and what is the criteria to qualify for that... Appreciate your help... Thanks in advance...

harish_kumar13 said:
sorry forgot to add that I am looking for 12k miles 36 months

.00035 and 56%. $1500 lease cash.

khuzbuz · October 2015

Hello I'm looking to lease an Elantra in Maryland. Please provide the relevant lease details for a 36month/15k miles per year.

2015
Elantra Sport
SE with Value Edition

2016
Elantra Sport
SE with Value Edition

Michaell · October 2015

khuzbuz said:
Hello I'm looking to lease an Elantra in Maryland. Please provide the relevant lease details for a 36month/15k miles per year.

2015
Elantra Sport
SE with Value Edition

2016
Elantra Sport
SE with Value Edition

2016 Sport - .00092 and 56%
2016 SE - .00035 and 54%
$1500 lease cash

2015 Sport - .00093 and 54%
2015 SE - .00021 and 52%
$3000 lease cash

Assuming automatic transmission for all.

audi_man · October 2015

On the market for the 2016 Elantra SE w/ popular package MSRP $19.985 36m/15k. What would be the reasonable negotiated selling price for this vehicle ? is lease cash $1750 available to everyone?

Would you be able to provide with MF/ RV for 36m/15k ? Thx

Michaell · October 2015

audi_man said:
On the market for the 2016 Elantra SE w/ popular package MSRP $19.985 36m/15k. What would be the reasonable negotiated selling price for this vehicle ? is lease cash $1750 available to everyone?

Would you be able to provide with MF/ RV for 36m/15k ? Thx

Automatic? .00035 and 54%. $1500 lease cash.

Lease cash is factory to dealer. Use that knowledge when negotiating your best price.

Use the price tools at the top of the page - make / model / year - to help set a target.

audi_man · October 2015

Yes, Automatic. Their website shows $1750 lease cash not $1500.
From my experience these tools are not accurate. In real life you may get different numbers.. I wanted to hear from someone who could share their real negotiated price experience. That would help a lot.
Thanks

Michaell · October 2015

audi_man said:
Yes, Automatic. Their website shows $1750 lease cash not $1500.
From my experience these tools are not accurate. In real life you may get different numbers.. I wanted to hear from someone who could share their real negotiated price experience. That would help a lot.
Thanks

It's possible the lease cash has changed and we don't know about it.

I agree with the comment regarding the tools; but, it's a place to start.

khuzbuz · October 2015

I received the following offer on a 2016 Elantra Sport - 36month/15k miles per year:

MSRP - $22,650
Price - $19,966
Rebate - $2,000
Residual – 57% / $12,910
Rate – 0.00084
Acquisition Fee - $595
Govt Fee - $292
MD Tax - $1,216
Doc Fee - $299
$0 Down Sign and Drive - $242/month

Any thoughts on the possibility of getting a better monthly payment?

Michaell · October 2015

khuzbuz said:
I received the following offer on a 2016 Elantra Sport - 36month/15k miles per year:

MSRP - $22,650
Price - $19,966
Rebate - $2,000
Residual – 57% / $12,910
Rate – 0.00084
Acquisition Fee - $595
Govt Fee - $292
MD Tax - $1,216
Doc Fee - $299
$0 Down Sign and Drive - $242/month

Any thoughts on the possibility of getting a better monthly payment?

I confirm the .00084 and 58% residual for 36/15 on the Elantra Sport MT.

Only way to get a better payment is to negotiate a lower selling price.

khuzbuz · October 2015

Michaell said:

khuzbuz said:
I received the following offer on a 2016 Elantra Sport - 36month/15k miles per year:

MSRP - $22,650
Price - $19,966
Rebate - $2,000
Residual – 57% / $12,910
Rate – 0.00084
Acquisition Fee - $595
Govt Fee - $292
MD Tax - $1,216
Doc Fee - $299
$0 Down Sign and Drive - $242/month

Any thoughts on the possibility of getting a better monthly payment?
I confirm the .00084 and 58% residual for 36/15 on the Elantra Sport MT.

Only way to get a better payment is to negotiate a lower selling price.

This is supposed to me an AT. Are the rates and residual's different?

kyfdx · October 2015

khuzbuz said:

Michaell said:

khuzbuz said:
I received the following offer on a 2016 Elantra Sport - 36month/15k miles per year:

MSRP - $22,650
Price - $19,966
Rebate - $2,000
Residual – 57% / $12,910
Rate – 0.00084
Acquisition Fee - $595
Govt Fee - $292
MD Tax - $1,216
Doc Fee - $299
$0 Down Sign and Drive - $242/month

Any thoughts on the possibility of getting a better monthly payment?
I confirm the .00084 and 58% residual for 36/15 on the Elantra Sport MT.

Only way to get a better payment is to negotiate a lower selling price.

This is supposed to me an AT. Are the rates and residual's different?

.00092 MF on the AT.. We actually show 56% residual for 36/15.

audi_man · October 2015

khuzbuz said:
I received the following offer on a 2016 Elantra Sport - 36month/15k miles per year:

MSRP - $22,650
Price - $19,966
Rebate - $2,000
Residual – 57% / $12,910
Rate – 0.00084
Acquisition Fee - $595
Govt Fee - $292
MD Tax - $1,216
Doc Fee - $299
$0 Down Sign and Drive - $242/month

Any thoughts on the possibility of getting a better monthly payment?

What is the invoice price? MF is kind of to high 2.02% In November should be better programm. you don't want to wait few more days ?

khuzbuz · October 2015

Invoice is $21,961. The MF might go down in the next few weeks, but the residual value will probably decrease by a greater percentage. Are the deals better towards the end of the year when a majority of people aren't thinking of buying cars during the holiday season, versus waiting till sometime next year once the 2017 bodystyle comes out?

Michaell · October 2015

khuzbuz said:
Invoice is $21,961. The MF might go down in the next few weeks, but the residual value will probably decrease by a greater percentage. Are the deals better towards the end of the year when a majority of people aren't thinking of buying cars during the holiday season, versus waiting till sometime next year once the 2017 bodystyle comes out?

I would think that the deals will be spectacular on the 2016 "old" body style as the 2017's roll out to the dealers

audi_man · October 2015

and when we should expect 2017 models?

Michaell · October 2015

audi_man said:
and when we should expect 2017 models?

Next year sometime ..

AlexMM · November 2015

can you please give me MF and Residual for 2016 value Edition for 36month/15k mile per year and also 36/18K?
is there any Lease/ Dealer cash Offer on this car?
and my zip code is 32095

kyfdx · November 2015

maverick_ir said:
can you please give me MF and Residual for 2016 value Edition for 36month/15k mile per year and also 36/18K?
is there any Lease/ Dealer cash Offer on this car?
and my zip code is 32095

I'll assume that the Value Edition is an SE?

.00161 MF and 52% residual for 36/15. $3000 lease cash.

No 18K/yr allowances for Hyundai.

khuzbuz · November 2015

It's me again. Looking to do a 36month/15k mile lease on an SE with popular package or the Sport in Maryland. Please provide the MF, Residuals and incentives for both 2015's and 2016's.

kyfdx · November 2015

khuzbuz said:
It's me again. Looking to do a 36month/15k mile lease on an SE with popular package or the Sport in Maryland. Please provide the MF, Residuals and incentives for both 2015's and 2016's.

2016: .00161 MF and 52% residual. $3000 lease cash
2015: .00035 MF and 50% residual. $3500 lease cash

khuzbuz · November 2015

Is this SE or Sport. I need both trims for both years

khuzbuz · November 2015

kyfdx said:

It's me again. Looking to do a 36month/15k mile lease on an SE with popular package or the Sport in Maryland. Please provide the MF, Residuals and incentives for both 2015's and 2016's.

2016: .00161 MF and 52% residual. $3000 lease cash 2015: .00035 MF and 50% residual. $3500 lease cash

Is this the SE or Sport? I need both trims.

Michaell · November 2015

khuzbuz said:

kyfdx said:

khuzbuz said:
It's me again. Looking to do a 36month/15k mile lease on an SE with popular package or the Sport in Maryland. Please provide the MF, Residuals and incentives for both 2015's and 2016's.

2016: .00161 MF and 52% residual. $3000 lease cash
2015: .00035 MF and 50% residual. $3500 lease cash

Is this the SE or Sport? I need both trims.

Numbers quoted are for the SE with automatic.

Sport numbers:
2016 - .00176 and 53%. $3000 lease cash.
2015 - .00099 and 52%. $3500 lease cash.

2016 Hyundai Elantra Lease Questions

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