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Hyundai Sonata Lease Questions

1234 messages,  Last post on Jun 15, 2013 at 6:59 PM

You are in the Prices Paid - Buying & Leasing Experiences Forum.

What is this discussion about? Hyundai Sonata, Car Leasing, Sedan

Messages Page 113 of 124

#1116 of 1234 Re: Hyundai Sonata [sirjared] by sewerrat1980

Sep 20, 2012 (11:34 am)

Replying to: sirjared (Sep 19, 2012 1:45 pm)
Here is the deal I got yesterday if you want to use it as a benchmark:
2013 Sonata GLS with Popular Package:
 
MSRP $22,835 ($20,895 + $825 package + $340 for floormats, cargo net, etc +775 freight/delivery)
 
Negotiated price of $19,300
 
Total lease amount of $20,581 ($19,300 + $199 service fee + $595 bank fee + 248.60 first months payment + $238.40 DMV fees)
 
Buyout of $13,929
 
35 more payments of $248.60
Money factor of 3.6%
5.1% sales tax
Sign and drive. I'm a happy guy, I think I got a good deal.
The popular package is a freakin bargain for $825 (Fog logs, auto headlights, heated seats, alloy wheels, power drivers seat)

#1117 of 1234 Re: LEASING A 2013 SE SONATA WITH NAVIGATION AND SUNROOF PACKAKE [sladex] by thetriplei

Sep 24, 2012 (11:48 pm)

Replying to: sladex (Sep 19, 2012 6:00 am)
Did you go through with the lease? If so, were there any final negotiations, or were all the numbers as you last said?
 
I'm in NY, so I'm curious what dealer did you get your deal from?

#1118 of 1234 Re: 2013 Hyundai Sonata Limited [Car_man] by thetriplei

Sep 25, 2012 (12:08 am)

Replying to: Car_man (Sep 09, 2012 9:11 am)
Car man,
 
Do the numbers change if it's for a 12,000 or 10,000 mile per year lease?

#1119 of 1234 Re: LEASING A 2013 SE SONATA WITH NAVIGATION AND SUNROOF PACKAKE [thetriplei] by sewerrat1980

Sep 25, 2012 (6:06 am)

Replying to: thetriplei (Sep 24, 2012 11:48 pm)
Yep, I got the car.
I'm in Milwaukee.
The lease numbers do change in a 3/36 vs 3/30 due to the fact that the 3/36 will have more depreciation.
Mine was a 3/36

#1120 of 1234 LEASE hyundai sonata se with navi and sunroof 2013 by sladex

Sep 25, 2012 (10:23 am)

My lease deal msrp was 27,303 adjusted cost of 24,276.27 mf-.00125 residual was 60% mothly payment 270 900 down which included the dmv fees 300 first month payment 270 and the doc fee 75 and the tax rate was 8.875 12k 36months lease how does this deal sound?

#1121 of 1234 Sonata Hybrid Lease by mattnday

Sep 25, 2012 (10:19 pm)

My wife is seriously considering a lease of a 2012 hybrid base with Leather package
 
MSRP - $28370
Residual - $13900
SIgn and Drive
 
$256 a month 4yr/48k - they wanted $30-40 more per month for a 36 month lease.
 
This seems like a good deal but I am not sure

#1122 of 1234 Re: LEASING A 2013 SE SONATA WITH NAVIGATION AND SUNROOF PACKAKE [sewerrat1980] by thetriplei

Sep 26, 2012 (11:21 am)

Replying to: sewerrat1980 (Sep 25, 2012 6:06 am)
Will it affect just the monthly or the residual as well? It may be kind of dumb, but I don't know what's fair/expected or what is just a lie they'll tell you. I'm asking because I'm planning to buy the car out after (cant afford the payment if I finance it now) so I'm trying to see if I'd be better off paying for less miles in the lease (since I don't care if I technically go over or not) if the residual would be the same. Is one way better than the other?

#1123 of 1234 Re: LEASING A 2013 SE SONATA WITH NAVIGATION AND SUNROOF PACKAKE [thetriplei] by sewerrat1980

Sep 26, 2012 (11:41 am)

Replying to: thetriplei (Sep 26, 2012 11:21 am)
I think you need to do some reading how leases work.
There are only 4 components of a lease:
-car price
-interest rate (money factor)
-residual
-the above 3 components dictate the 4th, your monthly payment
 
Dealers are, for the most part, non-negotiable on components 2 and 3. The financing group tells them the current interest rate (based on your credit) and the manufacturer tells them the residual. (expressed as a percentage based on the # of miles the lease is).
 
So what can you do? Understand 2 and 3 and negotiate the hell out of #1. Thats it.
 
If you lease for 3 years/30k miles (instead of the typical 3/36), the car will be worth more at the end of the lease. So, your lease payments will go down, but the cost to buy the car at the end of the lease goes up.
 
If you lease for 3 years/90k miles (extreme, I know), the car will be worth less at the end of the lease. So, your lease payments will go up, but the cost to buy the car at the end of the lease will go down.
 
If cash flow right now is your issue and you truly will be buying out the lease, you should negotiate the lowest price for the car (always do this) and ask for the lowest amount of mileage lease they will offer.

#1124 of 1234 Re: 2013 Hyundai Sonata Limited [jasond02] by Car_man HOST

Sep 26, 2012 (1:35 pm)

Replying to: jasond02 (Sep 12, 2012 6:41 am)
Hi jasond02. Hyundai Finance's September buy rate lease money factor and residual value for a 36-month lease of a 2013 Sonata Limited Turbo with 12,000 miles per year are .00163 and 62%, respectively for consumers who qualify for its top credit tier.
 
When negotiating your deal on this car, make sure to take advantage of the $1,500 cash incentive that is currently available on leases of it.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#1125 of 1234 Re: 2013 Hyundai Sonata Limited [thetriplei] by Car_man HOST

Sep 26, 2012 (1:37 pm)

Replying to: thetriplei (Sep 25, 2012 12:08 am)
Hi thetriplei. The residual value for a lease with 12,000 miles per year would be 1% higher than the residual value for a lease wit 15,000 miles per year. I'm not sure if Hyundai Finance offers leases with only 10,000 miles per year. If It does the residual values for that allowance would likely be 2% higher than the 15k resids.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

Messages Page 113 of 124

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