Last post on Aug 01, 2013 at 1:10 AM
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Hyundai Tucson, Car Leasing, SUV
#22 of 136 Re: Leasing questions on Tucson [kenbonn]
Aug 28, 2006 (3:49 am)
Hi kenbonn. Hyundai's cash incentive for leases of the 2006 Tucson is actually higher than its normal customer cash incentive for it. The lease cash is $1,500. Since you have already gotten the dealer that you are working with to agree to lease you this truck at dealer invoice, have them subtract this $1,500 from your vehicle's capitalized cost and then use Hyundai Finance's buy rate lease money factor to calculate its monthly payment. The Tucson's money factors vary by trim level. If you describe the exact truck that you are interested in getting to me I would be happy to tell you what its current lease program is like.
Consumers can and should lease any vehicle that they are interested in without making any sort of capitalized cost reduction. All you have to pay at lease signing will be your vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $50 increment, Hyundai Finance's $595 acquisition fee, and any required state taxes or fees. I always advise consumers against making capitalized cost reductions on leased vehicles because if their vehicle is totaled in an accident or stolen and never recovered, their down payment essentially disappears.
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#23 of 136 Lease 06 Limited
Sep 23, 2006 (7:18 pm)
i just got a quote from a dealer in central NJ. it's a 06 limited with sunroof and a few other extras. MSRP is $26690 (including $600 destination). i dont know the invoice, but estimated at ~$24700, reasonable? the salesman offer me 36 month lease $320/month with $2000 down. all tax & fees included. he said he calculated based on $500 below invoice. i am note sure how to calculate these (MF, residual, etc.). do you think it's a fair deal?
thanks a lot
#24 of 136 Re: Lease 06 Limited [tucson2006]
Sep 24, 2006 (7:40 am)
Hello ax. I believe that a loaded 2006 Hyundai Tuscon AWD has a spread of just below $2,000 below its full MSRP and dealer invoice price. Plus Hyundai is currently providing $2,100 lease cash on this truck. This gives us a spread of around $4,000 to play with. You mentioned that you were quoted a price of $500 under dealer invoice for this truck. I personally would want to a little larger discount than that, given the $2,100 lease cash that is available on it right now. Shoot for a larger discount and see what happens. The worst the dealer can do is say no.
As far as this truck's lease program goes, I believe that Hyundai Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2006 Tuscon Limited AWD with 15,000 miles per year are .00100 and 44%, respectively.
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#25 of 136 Re: Lease 06 Limited [Car_man]
Sep 24, 2006 (8:17 am)
thanks Car Man. this really helps a lot!
#26 of 136 Re: Lease 06 Limited [Car_man]
Sep 24, 2006 (8:32 am)
oh, a quick follow up question: when we calculate residual for lease, do we use MSRP as the base or the actual price after cash back and all the discounts? thx.
#27 of 136 Re: Lease 06 Limited [tucson2006]
by kyfdx@Edmunds HOST
Sep 24, 2006 (1:31 pm)
Always use MSRP to calculate the residual..
#28 of 136 2006 GLS 4WD Lease
Oct 03, 2006 (1:30 pm)
I live in Cincinnati, OH and received a quote of $17,995 for a used 2006 GLS 4wd with 11,300 miles. I also received a quote of $20,593 from another dealer for a new 2006 GLS 4wd. Which deal is better? I figured the depreciation in value is less for the used vehicle; therefore, my payment would be lower. I was thinking of leasing for 24-36 months.
#29 of 136 Re: Lease 06 Limited [tucson2006]
Oct 17, 2006 (1:20 am)
You're very welcome, tucson2006.
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#30 of 136 Re: 2006 GLS 4WD Lease [amandaleigh]
Oct 17, 2006 (1:25 am)
Hi amandaleigh. Which truck you should go with really depends upon whether you want to lease or finance your purchase. You won't be able to lease the used Tucson. If you want a really low monthly payment, you are going to have too lease the 2007 model. If you don't mind having a higher payment because you will eventually own your vehicle, then you might want to go with the used 2006 model. You're right that you'll likely end up paying less depreciation on the used Tucson, but to me there's always something great about getting a brand new vehicle that makes the additional depreciation worth it. Basically, there's not really any wrong answer in the new versus used debate, its more about what you would personally prefer to do.
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#31 of 136 2006 Tucson 6.27L
Nov 03, 2006 (6:35 am)
A few questions: first, I'm trading in a 1997 Mercury Mountianeer in "fair" condition 137,000 miles- Kelly Blue book gives a trade-in at $2380, but the TMV appraiser gives $1645; the dealer I went to says $1500.
A dealer gave me MSPR of 21,830. the lease term was 30 months (odd?) money factor of .00234, LEV A 51%, a rebate of 2100 (as of Nov 1), trade-in $1500, amount due at startup $3600 (I asked for 0) monthly is $368.
Where does this deal stand?