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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: theericharris1 (Jan 11, 2007 7:03 am) Front wheel drive origination support $1,550 + 500 loyalty 30 months money factor is .00111 39 mos .00147 42 mos .00157 Residual 30 mos 57% 39 mos 47% 42 mos 45% Four wheel drive has the same orig. support money factors 30 mos .00137 39 mos .00169 42 mos .00178 Residual 30 mos 58% 39 mos 49% 42 mos 47% Deduct 1% from residual for 15,000 mile leases.
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Replying to: theericharris1 (Jan 11, 2007 7:03 am) |
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Replying to: danf1 (Jan 12, 2007 6:02 am) Could someone please help me with the following lease question? I am currently thinking about leasing an 07 Santa Fe Limited AWD, XM, with the ULTIMATE package. A local dealer has the MSRP given as $32,450 for this combination, with a negotiated price of around $27,200. At this point, I have not told them of my intent to LEASE. Instead they currently think I would be buying/financing. First question, is it reasonable to think that as I would be leasing (instead of buying) I could expect them to add the $1,000 "cash back" which I believe they had initially deducted from the total back into the above price... now making it $28,200? Then, considering that Hyundai offers "$1,500 lease cash back" (assuming that this is still being offered?) that would bring the negotiated price back down to $26,700, in this case. Does that sound about right, or are my above assumptions wrong? Any feedback would be greatly appreciated!
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Replying to: Car_man (Dec 05, 2006 2:27 am) TIA.
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Replying to: jasrich (Feb 26, 2007 1:10 pm) Yes, the vehicle is insured with GAP coverage, but the insurance company will only pay whatever the remaining value is... be that $2,000, or $20,000 back to the leasing company if something bad happens to the car. So, if you put 12K down for a leased car and something happens to it, the insurance will pay whatever value is still owed on the car, but you essentially lose your entire 12K deposit (the insurance company will reimburse the leasing company for the remaining value of the vehicle, but they WILL NOT reimburse you for any down payment monies that you paid up-front. So you could look at it like this: Scenario 1: You only put $1,000 down and the car is completely totalled or stolen. Insurance pays the leasing company for the remaining money owed on the vehicle and you would only have lost $1,000 in down deposit money when all's said and done. Scenario 2: You put $12,000 down in order to get your monthly payments low, and then something bad happens to the car. Now you've just lost an extra $11,000 of your personal money, that you otherwise would not have. This is why many on this site strongly advise against making and down payment on a lease that is larger than the minimum required (that is, if a down payment is even required, at all). Hope these were good examples. Others here on this forum understand this topic much better than me, so hopefully if I forgot to mention something or got something wrong they'll pop in and correct me. 
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Replying to: mrmister2000 (Feb 26, 2007 4:16 pm)
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Replying to: jasrich (Feb 26, 2007 10:04 pm) Any downpayment you make on a lease is not considered.. or reimbursed. |
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Replying to: mrmister2000 (Feb 25, 2007 4:33 pm) Car_man Host Prices Paid Forum |
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My husband has talked to two dealerships. When all is said and done, the monthly payment will be about $455.00 per month for six years and with nothing down. He says it is about the residual. I don't see too many people talking about the amount of payment. Is this too high? It seems high to us. I think we are better off buying. Thanks for any help you can give. I had to edit this because I forgot an important detail. We want a Santa Fe Limited FWD Premium-Silver Blue. They also told him the cargo cover has to be ordered from parts, but I know from reading the forums that this isn't necessarily true.
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Replying to: lv2drv (Mar 21, 2007 2:24 pm) $455/month times 60 months means total payments of $27,300... and they are asking this for a FWD (not an AWD?) having only the Premium package? That's ridiculous and I'd avoid those dealers like the plague. You should be able to get a much better offer than what they are giving you. There are people here on Edmunds who have purchased (not leased) AWD Limited's with the Ultimate package (a configuration costing several thousand $$ more than what you are looking for) and yet have paid less in the end than what those dealers are asking in total for your lease payments. I'm just curious, but why would you want to lease for six years when the bumper-to-bumper warranty is only five years? I'm personally thinking about leasing an AWD Limited with the Ultimate Package (MSRP over $32,000) for 3 years and do not expect that I would have to pay any more than $350/month (taxes included) after a $1,500 down-payment. Perhaps the reason that your quoted monthly payments would be so high is because your lease term would be so long? |
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