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SUVs Hyundai Santa Fe Hyundai Santa Fe: Lease Questions
70 messages, Last post on Aug 27, 2009 at 2:03 AM
You are in the Hyundai Santa Fe Forum. Your Hosts are steve_ & tidester
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Replying to: Car_man (Aug 31, 2005 3:10 am) I have begun getting pricing information from a few dealers in the area. They are all quoting 47% residual value, but the actual dollar amount is different. I though residual was calculated on the MSRP and not the selling price, but maybe I am wrong. For Example...If I have a selling price of $29,200 and a 47% residual rate how do I calculate the residual dollar amount? Are there any tricks I need to know about? thanks!
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Replying to: Car_man (Oct 15, 2006 5:48 am) Could someone provide some guideance and/or resources on pros and cons of trading in my car or sellnig it privately and using the cash as down payment. I seem to remember taxes come in to play and depending on the vehicle it may be better trading it in. I live in Canada if that helps with the taxes. Thanks |
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Replying to: doubleh (Nov 29, 2006 12:50 pm) I believe the residual is based on factors like length of lease and miles alloted per year. The more miles/year you add the lower the residual. The $1500 lease incentive was not advertised. The internet manager I was dealing with brought it up and factored it in to the deal. As far as selling/trading car: you'll likely get more $$ if you sell yourself. Not sure if how Canada laws and taxes work with selling a car. One thing to consider is not putting money down on a lease. Yes this will lower your payment, but it is lost money if something happens to the vehicle. If you do the calculations you'll find that you may be better off saving the money you would have used to lower the cap cost and applying it towards your payment each month. Just my input.
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Replying to: colklink (Dec 01, 2006 8:08 am)
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Replying to: doubleh (Dec 01, 2006 8:56 am) Real world scenario: My Santa Fe is my second lease I've ever done. The 1st was a G35 Coupe. I put about $3K down on the Coupe to get the payments where I wanted them. However, my family expanded and I transferred the lease after a year. So even though I saved $50/mo for that year, the $2400 was basically lost. Same thing if you total it. In a lease, the insurance will only pay what is owed on the car. Even if the value is greater, you don't get the difference. This time I walked out the door with just the bare minimum out of pocket. Good luck with the process and hope this helps. |
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Replying to: doubleh (Nov 16, 2006 10:56 am) Car_man Host Prices Paid Forum |
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Replying to: doubleh (Nov 29, 2006 11:16 am) Car_man Host Prices Paid Forum
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Replying to: doubleh (Nov 29, 2006 12:50 pm) Car_man Host Prices Paid Forum
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Replying to: Car_man (Dec 05, 2006 2:23 am) |
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Hello, We are looking at trading in our 2005 Santa Fe (3.5L) for a new 2007 Santa Fe Limited (MSRP $27,600). The new Santy is a huge improvement over our current one! Anyways, I know a Santa Fe is probably not ideal to lease due to its horrible resale value, but I'm hoping the dealer can work some magic or Hyundai comes out with some good incentives. Does anyone know where Hyundai Financial posts its money factor and residual numbers? I'd like to get this information before going to the dealer again. We were quoted a $395 lease with $2,500 (or $440/month) down that included $550 refundable deposit, $550 acq. fee, $150 docs, and $1,500 in negative equity. We'll pull the trigger if we can get out the door with $0 down and $400 month, plus out of our 2005 Santa Fe which we still owe $19,100 on. We just don't want to own this car anymore and would rather get a better car for the same monthly payment for 3 years and then start over with nothing. I see Hyundai has a $1000 rebate along with $500 loyalty cash. So this gives us $1500 off MSRP right away before negotiating. Thanks! |
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