2016 Hyundai Sonata Lease Questions

tonyg2016 · March 2016

My local sales guy called me yesterday to see if i was still in the market for a sonata Sport 2.4, esp. with the increased incentives (3/17). For a 36mo, 12k miles lease:

residual 53%, mf 0.00082, lease cash 3000, spring cash 1000

i believe those numbers are valid for Florida. i was also considering the sonata value pkg (not sure if i want/need some of those gizmos (i am old). sample calc follows:

msrp 25310, sell 23310 (2000 discount), using 4000 LC, raw monthly 208 (excludes tax, dmv, doc)

note for the Florida guy: check fitzmall pricing, beware they lowball you on the price but get you on the exorbitant doc fee (~499)

http://www.fitzclearwaterhyundai.com/VehicleDetails/new-2016-Hyundai-Sonata-4dr_Sdn_2.4L_Sport-Clearwater-FL/2685026213

danxp · March 2016

got a lease quote as follows:

2016 sonata sport 2.4 w/premium pkg
- msrp ~$26k
- 36mo
- 12k mi/yr
- $1300 due at signing (incl nj sales tax, acq fee, dmv fee, doc fee, etc)
- $250/mo (includes sales tax)

good deal?

Michaell · March 2016

danxp said:
got a lease quote as follows:

2016 sonata sport 2.4 w/premium pkg
- msrp ~$26k
- 36mo
- 12k mi/yr
- $1300 due at signing (incl nj sales tax, acq fee, dmv fee, doc fee, etc)
- $250/mo (includes sales tax)

good deal?

What is the selling price or adjusted capitalized cost?

On the surface, it looks good.

danxp · March 2016

he didn't say... but as a consumer i don't really care what the selling price is as long as the money due at signing and monthly pmt are agreeable...

i'm not going to buy the car at the end so i don't care about residual... based on the lease calculator from earlier in the thread i thought i'd be in in the $265/mo range so $250 w/$1300 due seems like a huge win to me...

am i missing something?

thanks.

tonyg2016 · March 2016

danxp said:
got a lease quote as follows:

2016 sonata sport 2.4 w/premium pkg
- msrp ~$26k
- 36mo
- 12k mi/yr
- $1300 due at signing (incl nj sales tax, acq fee, dmv fee, doc fee, etc)
- $250/mo (includes sales tax)

good deal?

It's a great deal for the car salesman!

Without the critical details, we can't fully evaluate your deal BUT i can use realistic estimates and tell you it's about $1050 too high. But, if you are happy, go for it - it's only money...

i get 36 payments of 251 (inclusive of 7% tax, 250 doc, 75 dmv, msrp 26300, sell 24200, 4000 lease/spring cash).

http://www.edmunds.com/car-buying/what-fees-should-you-pay.html#chart

danxp · March 2016

thanks tony... don't they usually charge an acquisition/bank fee of $595 or is that the doc/dealer fee? i've been charged as much as $600 for a dmv fee (and they said they're even allowed by law to charge as much as $900+ in nj... ridiculous, eh?)

tonyg2016 · March 2016

The acq fee of 595 goes to HMF and is included in my calcs.

The doc fee is pure dealer profit and every state has different rules on it. The edmunds data i linked to shows an average doc fee in NJ of 334 but it is negotiable ( i.e., could be zero)

DMV fees are for registering the car with the state; avg fee in NJ is 93 (only you can verify that)

I increased the doc/dmv amount to 430 and now get 254/month (that's 36 payments of 254)

36 * 254 = 9144

1300 + (35 * 250) = 10050 (about 906 higher)

I would make an offer somewhere in between and be prepared to WALK.

onebetter · March 2016

Can you tell me the MF and RV for the Sonata Sport 2.4 and Limited 2.4 for 36/12 for Long Island NY. Thanks.

Michaell · March 2016

onebetter said:
Can you tell me the MF and RV for the Sonata Sport 2.4 and Limited 2.4 for 36/12 for Long Island NY. Thanks.

Sport 2.4 - .00055 and 53%
Limited 2.4 - .00087 and 56%

$2000 lease cash for both.

tshafer0911 · March 2016

Could I have the same as above, Sport 2.4 and Limited 2.4 for Mass?

48/10 and 36/10?

Thanks.

kyfdx · March 2016

tshafer0911 said:
Could I have the same as above, Sport 2.4 and Limited 2.4 for Mass?

48/10 and 36/10?

Thanks.

Sport: .00055 MF and 54% residual. $2000 lease cash
LTD: .00087 MF and 57% residual. $2000 lease cash

You don't want to do 48 months.. the numbers aren't as good.

mrjoshua2 · March 2016

Has anyone confirmed the additional lease cash yet? I'm looking for the total amount towards a Sport 2.4 with value package, thank you.

Michaell · March 2016

mrjoshua2 said:
Has anyone confirmed the additional lease cash yet? I'm looking for the total amount towards a Sport 2.4 with value package, thank you.

We didn't get any updated documents from Hyundai, so we can't confirm any updated incentives.

onebetter · March 2016

Is the following a good deal to go forward with in Suffolk County NY. Thanks in advance.

2016 Hyundai Limited 2.4L
3 yr 36 month 15K per yr
$346 per month
MSRP $28,365
Adj Cap Cost $26,460 (includes acquisition fee)
MF .00087
RV 54%
Sales tax rate 8.625%
Due at signing $846 + up front tax + doc and DMV fees

Appreciate your advice.

Michaell · March 2016

onebetter said:
Is the following a good deal to go forward with in Suffolk County NY. Thanks in advance.

2016 Hyundai Limited 2.4L
3 yr 36 month 15K per yr
$346 per month
MSRP $28,365
Adj Cap Cost $26,460 (includes acquisition fee)
MF .00087
RV 54%
Sales tax rate 8.625%
Due at signing $846 + up front tax + doc and DMV fees

Appreciate your advice.

I agree with those numbers. Only way to make it better is to negotiate a better selling price.

danxp · March 2016

update:

offered a deal on a 2016 sonata sport 2.4 w/premium pkg as follows...
- msrp $26260
- 36mo
- 12k mi/yr
- $1150 due at signing (incl tax, all fees (dmv ,acq/bank, doc), not sure if it includes 1st mo pmt however)
- $230/mo includes 7% nj sales tax

will update once i close the deal...

thanks for all the help tonyg and michaell!

Michaell · March 2016

danxp said:
update:

offered a deal on a 2016 sonata sport 2.4 w/premium pkg as follows...
- msrp $26260
- 36mo
- 12k mi/yr
- $1150 due at signing (incl tax, all fees (dmv ,acq/bank, doc), not sure if it includes 1st mo pmt however)
- $230/mo includes 7% nj sales tax

will update once i close the deal...

thanks for all the help tonyg and michaell!

$230/mo with tax is a good price on a $26K car is a great price!

May need you to help negotiate my next lease later this year when my Elantra GT lease expires.

danxp · March 2016

it's a good deal lower than my previous quote so we'll see if i actually get it when i walk in... communicated everything on email so i "should" be ok... btw, the due at signing is $1250 not $1150 but it includes the 1st mo pmt...

tonyg2016 · March 2016

tonyg2016 said:

I increased the doc/dmv amount to 430 and now get 254/month (that's 36 payments of 254)

36 * 254 = 9144

your prior quote: 1300 + (35 * 250) = 10050

I would make an offer somewhere in between and be prepared to WALK.

new deal: 1250 + (35 * 230) = 9300 (that's 750 less than your prior quote)

i hope they honor that e-mail quote

mrjoshua2 · March 2016

Thank you everyone for all of your help.... before signing, I have them at $255 tax included with $400 total down, which includes 1st month. 2016 Sport 2.4, with value package and they are throwing in a window tint.

Florida
12k / 36 months.
Gross $25,385
Cap $21,385
mf .00055
Res 53%

-I'm very happy with those numbers, could I do better?

Michaell · March 2016

mrjoshua2 said:
Thank you everyone for all of your help.... before signing, I have them at $255 tax included with $400 total down, which includes 1st month. 2016 Sport 2.4, with value package and they are throwing in a window tint.

Florida
12k / 36 months.
Gross $25,385
Cap $21,385
mf .00055
Res 53%

-I'm very happy with those numbers, could I do better?

You are at 16% under sticker price - I suppose you can push for more of a discount, but don't be surprised if they refuse.

mrjoshua2 · March 2016

Michaell said:

mrjoshua2 said:
Thank you everyone for all of your help.... before signing, I have them at $255 tax included with $400 total down, which includes 1st month. 2016 Sport 2.4, with value package and they are throwing in a window tint.

Florida
12k / 36 months.
Gross $25,385
Cap $21,385
mf .00055
Res 53%

-I'm very happy with those numbers, could I do better?
You are at 16% under sticker price - I suppose you can push for more of a discount, but don't be surprised if they refuse.

I will push, but if it stays like this, is 16% under a solid deal? How would you rate it on a scale from 1-10? lol

Michaell · March 2016

mrjoshua2 said:

Michaell said:

mrjoshua2 said:
Thank you everyone for all of your help.... before signing, I have them at $255 tax included with $400 total down, which includes 1st month. 2016 Sport 2.4, with value package and they are throwing in a window tint.

Florida
12k / 36 months.
Gross $25,385
Cap $21,385
mf .00055
Res 53%

-I'm very happy with those numbers, could I do better?
You are at 16% under sticker price - I suppose you can push for more of a discount, but don't be surprised if they refuse.
I will push, but if it stays like this, is 16% under a solid deal? How would you rate it on a scale from 1-10? lol

I don't track selling prices, so can't rate the strength of your deal. If you're happy with it, that's all that matters.

tonyg2016 · March 2016

what really matters is whether the lease cash is 2000 or 3000! that's about a $28/month difference in your payment. The sticker price is important but the incentives and money factor matter greatly in the lease calculation.

edmunds says: 2000 lease cash, .00055 mf, 500 spring cash
updated numbers that changed on 3/17 (at least in OH; hyundai numbers are national, i thought):
3000 lease cash, .00082 mf, 1000 spring cash

I'd call another dealer and see what they tell you about the data i posted - can't hurt.

cbmseventeen · March 2016

Hi. I'm planning on leasing a '16 Limited 2.4 in South Florida and wanted to know if the MF and residual are still .00087 and 56%?
Also, what's the total lease/bonus cash available? At Hyundai's website I see:
$1000 Spring Sales Cash
$1000 Retail Bonus Cash
Where can I find the $4000 lease cash others have posted? Is that including loyalty, military, recent grad bonuses?
Thanks

kyfdx · March 2016

cbmseventeen said:
Hi. I'm planning on leasing a '16 Limited 2.4 in South Florida and wanted to know if the MF and residual are still .00087 and 56%?
Also, what's the total lease/bonus cash available? At Hyundai's website I see:
$1000 Spring Sales Cash
$1000 Retail Bonus Cash
Where can I find the $4000 lease cash others have posted? Is that including loyalty, military, recent grad bonuses?
Thanks

.00087 MF and 56% residual are correct for 36/12.

Can't answer your other questions

rxlaw63 · March 2016

What is MF and RV for 2016 sonata sport with tech package in Philadelphia Pa area
3/36
Thanks

starocean · March 2016

Get a quote from California Dealer:
10K/36 months.
Gross $22,770
discount $2,270
acq fee $595
MF .00077
Res 57%
Leash cash + spring cash $3000
==> 0 down, $205/month

my questions are:
1. Why leash cash + spring cash is only $3000? It's $4000 ($3000+$1000) according to this thread?
2. Is this quote a good deal?

Michaell · March 2016

rxlaw63 said:
What is MF and RV for 2016 sonata sport with tech package in Philadelphia Pa area
3/36
Thanks

2.4 or 2.0T?

Michaell · March 2016

starocean said:
Get a quote from California Dealer:
10K/36 months.
Gross $22,770
discount $2,270
acq fee $595
MF .00077
Res 57%
Leash cash + spring cash $3000
==> 0 down, $205/month

my questions are:
1. Why leash cash + spring cash is only $3000? It's $4000 ($3000+$1000) according to this thread?
2. Is this quote a good deal?

SE is .00077 and 57% for 36/10.

We show lease cash of $2000 and spring bonus cash of $1000.

Is the $205/mo quote with tax? If so, pretty solid deal.

What is the adjusted cap cost?

starocean · March 2016

Michaell said:

starocean said:
Get a quote from California Dealer:
10K/36 months.
Gross $22,770
discount $2,270
acq fee $595
MF .00077
Res 57%
Leash cash + spring cash $3000
==> 0 down, $205/month

my questions are:
1. Why leash cash + spring cash is only $3000? It's $4000 ($3000+$1000) according to this thread?
2. Is this quote a good deal?
SE is .00077 and 57% for 36/10.

We show lease cash of $2000 and spring bonus cash of $1000.

Is the $205/mo quote with tax? If so, pretty solid deal.

What is the adjusted cap cost?

Thanks a lot for your info!
Yes, it includes tax.
The quotation doesn't show adjusted cap cost.

tonyg2016 · March 2016

I think it fair to point out that edmunds does not typically get mid-month updates and the hyundai incentives changed on 3/17. Also, dealers are not required to pass along ALL the lease cash. Knowledge is Power and i would press the issue with the California dealership.

My .02: unless you are 100% sure you will not exceed the 10k miles per year, go with the 12k lease as it only costs you an additional 1% which on the SE model is less than $10/month.

with your numbers (57%, .00077mf, 3000lc) and assuming 9% tax rate, 324 for doc/dmv, sell 20500, i get $197.48; close to their 205 but they must be adding something else...

gspope · March 2016

Can I please get the MF and Resid for a Limited in central Ohio on 36/12k lease?

Is the lease cash now $3,000 + $1,000 Spring Cash (total $4,000)?

Also, if I current have a leased '12 Sonota (and am a veteran), can I add the Valued Customer ($500), Loyalty ($500) and military ($500) incentives on top of the $4,000 (for a total of $5,500 off)?

Thanks.

-Greg

kyfdx · March 2016

gspope said:
Can I please get the MF and Resid for a Limited in central Ohio on 36/12k lease?

Is the lease cash now $3,000 + $1,000 Spring Cash (total $4,000)?

Also, if I current have a leased '12 Sonota (and am a veteran), can I add the Valued Customer ($500), Loyalty ($500) and military ($500) incentives on top of the $4,000 (for a total of $5,500 off)?

Thanks.

-Greg

.00087 MF and 56% residual.

We only show $2000 lease cash. If it's changed mid-month, we won't know about it.

No idea about the other incentives.

danxp · March 2016

fyi...

i'm happy to report my deal completed successfully...
- 2016 sonata sport w/premium pkg
- msrp $26380
- 36mo
- 12k mi/yr
- $400 disp fee
- .20/mi overage
- $13700 purchase price at end (was originally reported at 11.7k but won't be buying at after anyway)
- $529 due at signing includes 1st mo, dmv fees
- all additional fees and taxes rolled up into monthly pmt
- $251/mo incl nj sales tax

thanks again to michaell and tonyg for all the help... good luck all.

Michaell · March 2016

danxp said:
fyi...

i'm happy to report my deal completed successfully...
- 2016 sonata sport w/premium pkg
- msrp $26380
- 36mo
- 12k mi/yr
- $400 disp fee
- .20/mi overage
- $13700 purchase price at end (was originally reported at 11.7k but won't be buying at after anyway)
- $529 due at signing includes 1st mo, dmv fees
- all additional fees and taxes rolled up into monthly pmt
- $251/mo incl nj sales tax

thanks again to michaell and tonyg for all the help... good luck all.

Wow ... excellent deal!

Congrats and enjoy the new Sonata!

rxlaw63 · March 2016

Michaell said:

rxlaw63 said:
What is MF and RV for 2016 sonata sport with tech package in Philadelphia Pa area
3/36
Thanks
2.4 or 2.0T?

2.4 please

kyfdx · March 2016

rxlaw63 said:

Michaell said:

rxlaw63 said:
What is MF and RV for 2016 sonata sport with tech package in Philadelphia Pa area
3/36
Thanks
2.4 or 2.0T?
2.4 please

.00055 MF and 53% residual. $2000 lease cash.

132nick · April 2016

What are the April MF/RV/lease cash numbers on 2016 Sonata SE & Sport 2.4 for 36/12 & 36/10 in South Florida? Is lease cash still $3000 total? Thanks.

tonyg2016 · April 2016

waiting for edmunds guys to respond BUT it appears the april incentives are not that good compared to March, at least from the BUY side. Leasing may be different...

tonyg2016 · April 2016

Any numbers for April?
MF/residuals/lease cash on 2016 Sonata SE & Sport 2.4 for 36/12 & 36/10 in Ohio

Michaell · April 2016

132nick said:
What are the April MF/RV/lease cash numbers on 2016 Sonata SE & Sport 2.4 for 36/12 & 36/10 in South Florida? Is lease cash still $3000 total? Thanks.

36/12 numbers:
SE - .00077 and 56%
Sport 2.4 - .00055 and 53%

$2000 lease cash.

Add 1% for 10K

Michaell · April 2016

tonyg2016 said:
Any numbers for April?
MF/residuals/lease cash on 2016 Sonata SE & Sport 2.4 for 36/12 & 36/10 in Ohio

36/12 numbers:
SE - .00077 and 56%
Sport 2.4 - .00055 and 53%

$2000 lease cash.

Add 1% for 10K

tonyg2016 · April 2016

I am confused. This is posted on your incentives page:

"Bonus $ Offer
Requirements and Restrictions:
Bonus Cash is available towards leasing. Must finance through Hyundai Motor Finance using special lease rates on 36 month contracts only.
Bonus $ Offer Type Start End
$2,750 04/01/2016 05/02/2016"

132nick · April 2016

Michaell said:

132nick said:
What are the April MF/RV/lease cash numbers on 2016 Sonata SE & Sport 2.4 for 36/12 & 36/10 in South Florida? Is lease cash still $3000 total? Thanks.
36/12 numbers:
SE - .00077 and 56%
Sport 2.4 - .00055 and 53%

$2000 lease cash.

Add 1% for 10K

Do you think they'll come out with additional $1000 spring bonus cash mid-month like they did in March? Is it worth waiting.

Michaell · April 2016

tonyg2016 said:
I am confused. This is posted on your incentives page:

"Bonus $ Offer
Requirements and Restrictions:
Bonus Cash is available towards leasing. Must finance through Hyundai Motor Finance using special lease rates on 36 month contracts only.
Bonus $ Offer Type Start End
$2,750 04/01/2016 05/02/2016"

OK, my information doesn't have that, but we don't have everything that's published, either

Michaell · April 2016

132nick said:

Michaell said:

132nick said:
What are the April MF/RV/lease cash numbers on 2016 Sonata SE & Sport 2.4 for 36/12 & 36/10 in South Florida? Is lease cash still $3000 total? Thanks.
36/12 numbers:
SE - .00077 and 56%
Sport 2.4 - .00055 and 53%

$2000 lease cash.

Add 1% for 10K
Do you think they'll come out with additional $1000 spring bonus cash mid-month like they did in March? Is it worth waiting.

No idea about any other incentives other than what I've posted. Or, for that matter, what may or may not happen mid-month.

maslows · April 2016

Delaware
Dealer said Rebates were included but the math doesn't make sense, I get military plus recent college grad, and I am assuming lease cash, but this was never confirmed.
I have 4 years left on the Audi, it was an impulse buy, I didn't think of the family factor just me, and its too small.

Trade In: 2008 Audi A4 w/99,980 miles
Trade In Payoff: $11920
Trade In Allowance: $5000

White with Grey Interior - 2016 Sonata SE w/PZEV

Selling Price: $22,710
Trade Allowance: -$5000
Adjusted Price: $17,710
Registration Fee: $200
Admin Fee: $299
Tax: $769
Non Tax Fee: $75
Trade Payoff: $11,920
Balance: $30,973

From there a Number $15,876 for 36 month with $1500 down payments are $441

maslows · April 2016

ok edit:

MF - .00105
Residual - 12717.60
Lease Cash & Rebates - $3650

tonyg2016 · April 2016

Perhaps i am not reading this correctly. Are you seriously trying to roll in $6920 of negative equity into this deal?

from a prior post today, 36/12 numbers:
SE - .00077 and 56%

2016 Hyundai Sonata Lease Questions

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