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Hyundai Azera: Lease Questions

41 messages,  Last post on Apr 25, 2013 at 7:54 AM

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What is this discussion about? Hyundai Azera, Sedan

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#1 of 41 Hyundai Azera: Lease Questions by pat

Mar 04, 2006 (8:02 am)

Thinking of leasing an Azera? Ask your questions here!

#2 of 41 My February 2006 Lease Experiences by ricwhite

Mar 04, 2006 (9:27 am)

(Reposted from the main Azera site)
 
Car Sought: Hyundai Azera Limited w/Ultimate package
  
Program: February 2006 Lease deal ($299 mo / 27 months + ultimate package). $2925 down / $595 acquisition fee / 53% residual / .00119 (2.86%) money factor.
  
Results:
  
None of the dealers would agree to the $299 per month for 27 month lease deal on an Azera Limited (without Ultimate pkg) as advertised by Hyundai. The results of what they WOULD do on a lease for an Azera Limited with the addition of the ultimate package is described below.
  
Dealer #1 - Westland Hyundai - Ogden, Utah -
Negotiated Base Cap Cost to $27,900 (MSRP 30,075).
But refused to implement the lease deal as advertised and tacked on thousands of dollars in extra fees. Result: best lease price: $474 per month + taxes. STRIKE ONE
  
Dealer #2 - Riverton Hyundai - Riverton, Utah -
Would not negotiate below $28,700 (MSRP 30,075) Implemented the lease deal. Result: Best lease price $400 per month + taxes. STRIKE TWO
  
Dealer #3 - Ken Garff Hyundai - Salt Lake City, Utah -
Refused to negotiate below $29,000 (MSRP 30075) Implemented the lease deal. Result: Best lease price $422 per month + taxes. STRIKE THREE
  
Observations:
  
* I knew more about the Azera than the Hyundai dealer sales people.
  
* All refused to honor the advertised Hyundai lease deal on the Azera.
  
* Most outright lied about invoice price and holdbacks and other financial information
  
* Several added in "hidden" fees which they were very reluctant to disclose.
  
* Many were rude, telling me to leave or to get a plane ticket and fly to a different city.
  
* Many were completely incompetent and couldn't even work the lease software.
  
Since the "lease deal" (that no dealer would fully do anyway) is over in a few days, it will make the Azera completely "unleasable" With it's very low residual, a lease on a unsubsidized Azera Ltd. Ult approaches $600/ month.
  
Personally, I am very unimpressed with Hyundai on the corporate and dealer level – which is probably one of the reasons it has such a "trashy" image and is laughed at. My experiences have done NOTHING to change that image. Until Hyundai can pick themselves out of the garbage, buyers such as myself will be drawn to more "upper-class" brands such as Acura that at least know what they are doing.
  
Maybe down the road Hyundai will get their act together. It might take a while, however, from what I have experienced.
  
Congratulations to those that actually found a decent dealer that was honest and knew what they were doing. For the rest of you . . . good luck!

#3 of 41 March 2006 Lease Program by HyundaiUSA by ricwhite

Mar 04, 2006 (9:37 am)

Hyundai is now advertising a new lease incentive for March of 2006:
 
Specifics:
 
http://www.hyundaiusa.com/financing/specialoffers/special_offers.aspx
 
Runs from March 1 to March 31
$299 a month for 27 months on the Azera Limited. $2999 down / $595 acquisition fee / $1500 HMAC support (rebate) / 52% residual w/12000 miles / .00153 (3.67%) money factor
 
If you want to add the premium or ultimate packages to this offer, it will increase monthly payments by $30-$80 per month depending on the price you're able to negotiate.

#4 of 41 Re: March 2006 Lease Program by HyundaiUSA [ricwhite] by tomsawyer1

Mar 06, 2006 (9:56 am)

Replying to: ricwhite (Mar 04, 2006 9:37 am)
Even if you could find a dealer who would honor this (good luck, as Hyundai dealers are slimey), it's still a horrible deal:
 
$2,999 down = $111.07 over 27 months.
 
$111.07 + lease payment of $299 = $410.07 per month for a base Azera, NOT including all the other crap fees they'll pile on.
 
Wgo does Hundai think they are? Audi?

#5 of 41 Yeah. . . It's not the best for leasing. by ricwhite

Mar 06, 2006 (11:35 am)

Even if you could find a dealer who would honor this (good luck, as Hyundai dealers are slimey), it's still a horrible deal:
 
You're right. The Azera, unfortunately, has a low resale/ residual rate, which makes leasing expensive -- even when subsidized.
 
With the subsidized lease, the Azera has a 52% residual after 27 months. That means it loses 48% of its value in just over two years -- and that's subsidized!
 
In contrast, the Acura TL has a lease deal where the residual is 61% after three years. That means it only loses 39% of its value after three years. Much, much better than the Azera.
 
Buying the Azera will be no better. In fact, according to Edmunds, the Azera loses over 30% of its value within the first year alone! This is something that is improving, but will not change overnight.
 
Most on the Azera forums are stating that they are buying the Azera outright or leasing with the intention to buy after the lease and keeping the vehicle for 8-10 years. This would be the only thing that really makes any "financial" sense.
 
For short term buy or lease, you'd be much better off buying a vehicle that holds its value unless you really don't mind losing a lot of money in depreciation.

#6 of 41 Re: Yeah. . . It's not the best for leasing. [ricwhite] by joe97

Mar 06, 2006 (6:48 pm)

Replying to: ricwhite (Mar 06, 2006 11:35 am)
This article stated the following:
 
"For those not yet sold on Hyundai's resale value, the Automotive Lease Guide is forecasting a 42 per cent residual for three years, which is fairly strong for Hyundai."
 
http://www.jamaicaobserver.com/magazines/Business/html/20060304T140000-0500_9988- - 7_OBS_AZERA_IS_A_HYUNDAI_MAKEOVER_WITH_TOUCH_OF_LUXURY_.asp

#7 of 41 Residuals by danf1

Mar 07, 2006 (7:10 am)

Hyundai is not offering any special residual values. They come dire=ct from ALG. This is unlike what the domestics do when they want to offer a low lease payment. They inflate residuals to get there. HMFC is offering low money factors.

#8 of 41 problem with the Azera lease by metalgate

May 16, 2006 (9:13 am)

THe reason most dealers hesitate to do the national lease is because it's based off net pricing. Meaning, to the dealer there's no profit margin. Not to mention, in more than 50% of the states the Limited is still bringing full MSRP. Then it becomes a business decision to lose money, or make money. I work for a Hyundai dealer. It's unfortunate some of you have had such unsavory experiences. I don't believe most dealers were preparred to deal with a premium sedan buyer. I also sell Cady's, so I knew before hand what is expected. My suggestion is to most definately get an Azera, but go to a multi point dealerhsip with at least one established luxury brand. BTW, I have seen more than my share of CTS and STS buyers switch themselves to the Azera and be thrilled to no end.

#9 of 41 AZERA GAS by andreachaim

Jul 07, 2006 (8:57 am)

IS THE MILEAGE TRUE TO PRINT OR IS IT LESS? THINKING OF GETTING THE LIMITED

#10 of 41 Re: Hyundai Azera: Lease Questions [pat] by andreachaim

Jul 07, 2006 (8:59 am)

Replying to: pat (Mar 04, 2006 8:02 am)
how is the gas for this car??? hearing different things
want the azera limited
thanks
andrea

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