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Sedans Hyundai Sonata Hyundai Sonata: Lease Questions
144 messages, Last post on Jul 17, 2009 at 1:51 AM
You are in the Hyundai Sonata Forum. Your Hosts are pat & karens
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Carman, hopefully you have some time to look over some exhaustive figures I've obtained from a kindly salesperson (not to many via email these days) Let me know what you guys think! Matching the $21,699 selling price, after the rebate - discount, the lease breaks down as follows. $25,930 MSRP 44% residual for 36 month lease with 15,000 miles $11,409.20 lease end value 0.00222 money factor $21,699 selling price $595 Hyundai's lease acquisition fee $1,360.44 cash cap reduction "portion of the $2,000 used as down payment" $20,933.56 adjusted cap cost $336.37 base monthly payment before tax $2,000 due at delivery $370.01 payment including tax (35 remaining) --------------------------------------------------------------------------------- - -- 48 month lease 15,000 miles per year The differences are: 35% residual $9,075.50 lease end value 0.00243 money factor $319.57 base payment $351.53 payment including tax
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Hello Everyone, I'm looking into either leasing or purchasing a 2007 Sonata GLS (manual) w/Sport Pkg. I'm trying to figure out what I should pay; as I've never done a lease before and am trying to keep my payments as LOW as possible. I've seen on the Hyundai website that there is a 2000.xx rebate; which would come in handy as I'm trading in my 2003 MINI Cooper (with about 2.5k negative equity - purchased used in 2/06). I've priced the car online to 17745.xx after rebate but am totally in the dark about what to do. Any help/advice is GREATLY appreciated!! Thanks, -Cor
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Today I was quoted a lease on a 2007 Sonata gls with a selling price of $19,28O. The cost after manufacturer and dealer discount was $15,495. The price I was offered was $199 for 24 months with $2000 down and no tax, title and tags or security deposit. Is this a good deal or should I finance and buy. I'm a first time leaser and have no idea what I'm doing. Any help would be appreciated. Thanks, Denise
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Replying to: dsiro7 (May 24, 2007 8:26 pm) They have an ad in my local paper for 1,499 + 149/mo on a $19,280 MSRP. I don't know how or if they really do this, but Sonatas do have good lease deals right now. |
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Replying to: eromusofwom (May 15, 2007 6:18 pm) The selling price that you were quoted for this Sonata looks very attractive to me. It is probably equivalent to right around dealer invoice minus the $2,500 lease cash incentive that Hyundai is providing on the '07 Sonata right now. Just make sure that the dealer you are working with is using Hyundai Finance's current buy rate lease money factor of .00222 to calculate your car's monthly payment and you're in business. Car_man Host Prices Paid Forum |
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Replying to: cor (May 22, 2007 7:17 pm) Basically what you need to do is negotiate as low a selling price as possible on the car that you want, making sure to take advantage of the aforementioned cash incentive. Once you have a selling price that you are comfortable with, have the dealer that gives it to you calculate your monthly payment using this car's buy rate lease money factor. You actually may want to consider going with an '07 Sonata with an automatic transmission instead of one that has a manual transmission. The GLS auto has a 39 month buy rate lease money factor of .00104 versus the stick's factor of .00222. The auto has a higher residual value as well. Car_man Host Prices Paid Forum |
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Replying to: dsiro7 (May 24, 2007 8:26 pm) Let's take a look at the specific deal that you were offered. A base 2007 Hyundai Sonata GLS with an automatic transmission has a spread of only $770 between its full MSRP and its dealer invoice price. Add to that the $2,500 lease cash that is available on this model and we have a total of $3,270 to play with. The selling price that you were quoted appears to be around $500 under invoice, which is a very good deal. You should double check that the dealer you are working with is using Hyundai Finance's buy rate lease money factor of .00104 to calculate your monthly payment, but this looks like a very attractive offer. If you decide that leasing is not for you and that you would rather finance this car, its selling price would be higher because you will not be able to take advantage of the $2,500 lease cash. You will however be able to use Hyundai's special financing rates of 0% for up to 3 years, 1.9% for 4 years, 2.9% for 5 years, or 4.9% for 6 years. Car_man Host Prices Paid Forum |
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Replying to: eromusofwom (May 19, 2007 6:16 am) The Sonata is a great buy with rebates and discounts, but it's not a great vehicle to lease for the same reasons. With all of the rebates and discounts, the car's resale value is lowered (and the higher the resale value, the lower the lease payments). If you must lease rather than buy, I'd suggest a Honda or Toyota. Right now, you can lease a loaded Accord V6 (a $28k vehicle) for at least $60 less per month than a Sonata Limited, with the same down payment. I leased my 2007 Accord EX-L V6 back in October. It's a 3 year lease and I put $2000 down and I pay only $280 per month with tax. However, my lease is 12,000 miles per year instead of 15,000/year. I'm not sure how much of a difference that makes in the payment amount, but it can't be much. |
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Does anybody know if they are still offering the .00104 MF on the Sonata and what the residual is?
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Replying to: pjamese (Jul 27, 2007 9:55 am) Also have a lease quote on a 2007 GLS w/premium pkg (02) w/same month-mileage-money factor and residual for $376 down/$243 month. The residual dollar difference on the '08 is $93 more but I'd be paying $293 less over the length of the lease...decisions decisions.
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