Last post on Jun 15, 2013 at 6:59 PM
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Hyundai Sonata, Car Leasing, Sedan
#1063 of 1234 Re: April 2012 Money Factor [buggyrider]
by Car_man HOST
Apr 22, 2012 (3:59 pm)
Thanks buggyrider. Hyundai Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2012 Sonata Limited with 12,000 miles per year are .00166 and 55%, respectively for consumers who qualify for its top credit tier.
The numbers for an otherwise identical 48-month lease are .00164 and 49%.
Yes, there is a $1,500 cash incentive on leases of this car right now. Make sure to take it into account when negotiating your deal. With it, you should be able to negotiate a capitalized cost of under invoice.
Prices Paid: Buying & Leasing Experiences Forum
#1064 of 1234 To Car Man or anyone who is good at this- Need your help please!!
Apr 28, 2012 (10:26 am)
I am trying to negotiate a deal on 2012 Sonata 2.0 T Limited with Nav in White with black interior( i know its about 200 USD higher than any other exterior color) - its a car that's extremely hard to find...and the dealer has come up with this
$ 2000 down (including first payment etc) for $347 a month including PA taxes. for 15000 miles and 36 months.
Do you think its a good deal?
I must add the MF was 0.00186 and residual is 54%. the deal includes a 1500 USD rebate
thanks a ton
#1065 of 1234 Re: To Car Man or anyone who is good at this- Need your help please!! [drjashan]
Apr 28, 2012 (12:12 pm)
Need MSRP and sales price to calculate deal goodness
Also, why is the money factor higher than carman's data (.00164)
PA sales tax rate = xx%
acq fee = 595?
Remember monday is the last day of the month. No need to jump the gun!
FWIW, never ever put down more than 500 out-the-door money on a lease.
#1066 of 1234 Re: To Car Man or anyone who is good at this- Need your help please!! [pegasus17]
Apr 28, 2012 (1:50 pm)
thanks a ton for the reply.
MSRP is quoted at 31905 ( this includes some extras on the car)
Sales price is 26072
MF is 0.00186.I checked the 2.0 T Limited has this MF for some reason.I do have excellent credit.do you think i can negotiate further for o.oo164?
PA tax is around 6+3 ( 9) percent
Acq fee quoted at 703 and I was also told there is tax amount due for approx 1100 USD. I was told we are taxed twice on leases in PA.( i did not know that- I would like a comment on that please)- both these payments are taken care of by the 2000.
Residual is 54%( terrible but I knew this before hand that 2.0T LTD have bad residuals)
This vehicle is being brought from another dealership since no one had this exact one close to me.
#1067 of 1234 Re: To Car Man or anyone who is good at this- Need your help please!! [pegasus17]
Apr 28, 2012 (1:54 pm)
May I add that with no money out of pocket,no dealer so far came close to even 423 bucks including tax on this car.
Apr 30, 2012 (9:14 pm)
So it's the end of the month and I got my girlfriend, what I think is a good deal on a brand new Sonata. Can anyone tell me how good or bad the deal really is? I assume this made the dealers quota or else he wouldn't have spent 4-5 hours trying to locate the exact trim and color combination we were looking for.
2013 Sonata Limited 2.4L with Premium Package (Panoramic sunroof and Navigation)
MSRP: $29,500 plus factory options (Don't remember the exact amount)
Cap cost: $28,755
Cap Reductions: $5498.67
Net cap cost (including fees): $23276.33
Residual value: $16,251.30
OTD cost: $6,400 paid as
Down payment: $4,000
Monthly Payment (including taxes): $279.02
#1069 of 1234 Re: April end deal [ablawande]
May 01, 2012 (9:17 am)
I hope you didn't put $4000 down on a lease - that is a horrible mistake (IMO)
BTW, how did you get 2400 in rebates on the 2013 model?
#1070 of 1234 Re: April end deal [pegasus17]
May 01, 2012 (9:38 am)
Well, she had a decent credit score, but very minimal credit history. The only way they were giving her a good interest rate was if the down payment was higher. Plus, IMO if you can afford to pay a higher down payment, it just saves you that much in interest paid and helps lower payments too (a big point for her). As for the rebates, it's off the hyundai website now (new month) but I know they had $1500 in rebates until yesterday on the 2012 sonata atleast. Don't remember if it was the case with the 2013s or not. That plus $500 valued owner (me) plus $400 college grad comes to $2400.
#1071 of 1234 Re: April end deal [ablawande]
May 01, 2012 (10:21 am)
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!
#1072 of 1234 Re: April end deal [pegasus17]
May 01, 2012 (11:47 am)
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.