Last post on Dec 08, 2013 at 4:12 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Hyundai Sonata, Car Leasing, Sedan
#1222 of 1297 Some payment questions.
May 24, 2013 (10:57 pm)
Hi. So I'm thinking of leasing 2013 Hyundai Sonata GLS, and this is going to be my first leasing experience and there are couple things I don't understand. Here on Edmunds, it says that there is an option without down payment (it's what I need), which will cost 255 dollars. So am I understanding this correctly, that I will go to the dealer, pick my car, pay couple hundredths of dollars for title and registration things and that's it? No other payments? Then I take the car home and pay monthly 255+9% tax which is $278? And that's it right? Or there is something that I'm missing? Also it says that there is some "Lease Cash: $1,500" - what exactly this means? Am I going to receive 1500 check from the Hyundai? I live in LA if it matters.
#1223 of 1297 Re: Some payment questions. [artiyom]
May 25, 2013 (4:34 am)
Typically that means you will lease a certain model at that monthly lease payment. However, in the small print it will likely show at lease inception you would pay the first months payment, plus tax, registration and other fees, such as the acquisition fee which can be hundreds and the dealer doc profit fee. Likely the cash payout will be more than $2,000.
Such ads are designed to get you to visit a dealer. The should be viewed with suspicion.
The lease cash is a cash amount paid by the OEM to reduce the amount of capitalized cost, which is the base cost of the lease without the fees and interest.
#1224 of 1297 Re: Some payment questions. [artiyom]
May 25, 2013 (11:22 am)
In my area (Twin Cities) some dealers offer "true zero" (or other such name) leasing, which means NOTHING up front, not even the first payment. So they roll that first payment, taxes (in MN you have to pay taxes up front, cannot be included in the monthly payments), license, fees into the costs of the lease and literally all you pay is the monthly payments starting with the 2nd one. I like that approach as it's very simple, and I got one of those deals last November on a 2013 GLS with Preferred Pkg. My monthly payments are only $47 because I traded in a 2007 Sonata GLS. But I've seen these kinds of deals advertised recently for as low as $225/month. YMMV of course. But IMO your dealer's offer of $255 + tax on a GLS with nothing up front is not a very good deal, given Hyundai is trying to move Sonatas.
Update: just saw a local offer for $229 on the GLS, 36 months, only first payment up front (taxes and fees included). Also saw an ad for $199/month for 39 months with 0 up front for a 2013 Altima 2.5S, and $220/month with 0 up front for 36 months on a Passat S automatic with Appearance Pkg. So there are deals to be had out there on little-to-nothing up front leases.
#1225 of 1297 Re: Some payment questions. [ken117]
May 25, 2013 (9:57 pm)
So you mean I will have to pay that ~2000 even when it says "0 due at signing"? That's what it says in the description of that lease here on Edmunds!
#1226 of 1297 bought a sonata
May 26, 2013 (4:21 pm)
I just leased a 2013 Sonata SE $278/mo for 36months. 12k miles. 24,111 was the agreed price. I got out of my GLS 7 months early. 0 down, signed and drive.
#1227 of 1297 Re: bought a sonata [steeb]
May 26, 2013 (4:37 pm)
So you paid nothing but registratin fees? "got out of my GLS 7 months early" I didn't get this, you are saying you've traded in your old car?
#1228 of 1297 Re: bought a sonata [artiyom]
May 26, 2013 (5:05 pm)
My lease is up in January. I didn't pay anything today. According to the paperwork its $134 taxes, title $185, dealer fee of $673
I signed paperwork, and they gave me keys. I am guessing they worked that fee into the monthly payments.
35 payments of 10,432
#1229 of 1297 Need Help Looking to lease Sonata GLS
May 29, 2013 (5:27 pm)
Ok guys here's what happened, my father went to go Millennium Hyundai in NY to lease a car. My father told me he wouldn't give out the exact breakdown, but he gave him a printed piece of paper from the dealership with all the pricing. Should he go for this deal or is there more room?
2013 Sonata 4D Sedan GLS Auto
Original MSRP $23140
Dealer Cost $22394
Selling Price $18396.69
Residual Value 59% $13652.60
Mileage Adj +2% $462.80
Adjusted Resideual Value $14115.40
Trade in $2300
36 Months $149.00
The thing that I didn't like is that he wanted to take the trade-in $2300 + another $1300 for taxes
#1230 of 1297 2013 sonata lease- but Upside down big time
Jun 02, 2013 (8:18 pm)
CarMan, I need a little help very upside down in my 2011 sonata se turbo 101,000 miles. Buyout is $16,000.00
According to dealer they are giving me $10,ooo so I'm - $6,ooo
On a 2013 sonata base auto transmission
Looking at $425 a month 48 month lease with a total of $1,500 out of pocket
Seems like a horrible deal am I correct ?
Jun 08, 2013 (3:15 pm)
Does anyone know the residual value and money factor for a 2014 Sonata GLS 36month lease with 10k miles/ year?