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Hyundai Santa Fe: Lease Questions

70 messages,  Last post on Aug 27, 2009 at 2:03 AM

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What is this discussion about? Hyundai Santa Fe, Car Leasing, SUV

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#41 of 70 Would like to Lease a Santa Fe by dave_h2 Apr 23, 2007 (8:44 am)
Yesterday I sent out requests via the “contact us” area of two Hyundai dealerships websites that are near to where I live in Nassau County - Long Island, NY. for a 2007 Hyundai Santa Fe SE 4dr SUV AWD w/XM (3.3L 6cyl). I am requesting no "optional" equipment, as all the standard features at this trim level seems to be all that I need.   In my message I wrote that I am not sure if I want to purchase or lease. My actual intention is to lease – my last three vehicles have all been leases (two Dodge Caravans on 36 month terms and the current Mazda MPV ES on a 48 month term). But everything I have read so far says you shouldn’t reveal your intention to lease *until you have firmly established the purchase price*. If this is no longer correct, I would be interested to hear that.   Dealer one came back with a simple quote: $24,114. This is a "special internet pricing quote" - which expires in 7 days and not valid after months end. I understand this is standard procedure.    Strictly based on the quoted number, that looks pretty good to me.    This site right here shows MSRP at $25,845 Invoice at $24,544 and "what others are paying" at $25,319.   However, the same pricing area of this site here also shows that there is an “Incentive & Rebate” of -$1,000. I’m sure the dealer has factored this in.   What can I expect if I lease?   I am getting the impression that Leasing a Santa Fe is not such a “good deal.” Is this true? Is leasing Santa Fe’s a less-than-optimal approach?   Any thoughts or advice would be most appreciated. Replies to this message: Car_man (May 11, 2007 1:26 am)
#42 of 70 One More Try by dave_h2 Apr 27, 2007 (11:10 am)
OK, I've gotten further responses from my internet queries:   The dealer who quoted a purchase price of $24,114 now comes back with this lease quote:   Here's a lease quote on the 07 Santa Fe SE AWD, per your requirements.    $461/mo. for 30 months, with 1st payment and DMV out of pocket ($529). Everything else rolled into payments. 12,000 mile per year allowance, $0.20 per mile thereafter.   Yet the dealer who quoted a purchase price of $24,519 (a full $400 more) came back with these numbers for a lease:   A lease on an AWD Santa Fe SE with everything in the payment except 1st month and DMV fees is $434/month   When I asked about different term lengths, this was the follow-up response:   The lease on a Hyundai Santa Fe SE AWD : 48 months 436; 60 months 387. These leases are with all in the payment and only coming up with 1st month and dmv.   My questions:   What is the current money factor out there now? In order to do my own calculations I need that bit of info. Also, what is the residual percentage?   Thanks for any help in this regard.
#43 of 70 Re: Lease questions [jwendler] by Car_man HOST May 11, 2007 (1:19 am)
Replying to: jwendler (Apr 14, 2007 8:50 pm) Hi jwendler. You never mentioned the selling price or MSRP of the Santa Fe that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.   Car_man Host Prices Paid Forum
#44 of 70 Re: Would like to Lease a Santa Fe [dave_h2] by Car_man HOST May 11, 2007 (1:26 am)
Replying to: dave_h2 (Apr 23, 2007 8:44 am) Hi Dave. The $1,000 customer cash incentive that Hyundai is providing on the 2007 Santa Fe is not compatible with its special lease program, but an even better $2,000 lease cash incentive is. If I was interested in leasing an '07 Santa Fe, I would want a selling price of around $1,500 under invoice. It wouldn't hurt to stop by the following discussion to see how much other community members have paid for similar vehicles lately: "Hyundai Santa Fe: Prices Paid & Buying Experience". Remember that the cash incentive on leases of this truck is double its normal customer cash.   Car_man Host Prices Paid Forum
#45 of 70 Want to Lease a Santa Fe by jak51 May 11, 2007 (6:11 am)
What are the current incentives, money factor and residual on a 07 Santa Fe Limited FWD. I am looking at 36 mos and 12,000 miles/yr. My lease is up next month.   Thanks Replies to this message: Car_man (Jun 14, 2007 2:31 am)
#46 of 70 money factor and residual? by haewalli May 11, 2007 (8:37 am)
thanks for all the info here, carman   is there any way to find out what the current money factor and residual rate is for the 07 Santa Fe SE AWD?   thnx
#47 of 70 Back with more numbers by haewalli May 14, 2007 (8:20 am)
ok, after meeting with a dealer this past saturday, i now have some new numbers   price: $25,552 (including $670 destination fee) minus special lease cash of $2,000 (tax calculated before, unfortunately) money factor: .00286 (6.86%, roughly) lease term: 42 months residual (45%) 12,035   monthly payment of $437.73   this is on a Santa Fe SE 4dr AWD w/xm (3.3L 6 cyl). no leather or moonroof. the standard SE model with XM radio.   how does this deal look? Replies to this message: Car_man (Jun 14, 2007 2:37 am)
#48 of 70 what is the balloon finance rebate about? by lcdos May 14, 2007 (8:00 pm)
I guess this is the lease question. I shopped around the Houston hyundai dealers, and was told that if do the ballon finance, there is $1000 extra rebate.    I have enough cash for the purchase, so could anybody shed some light please? Is there any catch in this balloon thing? What do I need to be careful about? I plan to pay it off asap. Just want to get extra rebate.    Thanks a lot! Replies to this message: Car_man (Jun 14, 2007 2:41 am)
#49 of 70 new lease program in middle of month? by haewalli May 17, 2007 (7:42 am)
first off - and this is directed at lcdos - i've never done the 'baloon' thing (it was never an appealing option for me) - but if it is as you say - a way for you to not have to pay taxes twice - then i suppose its a good thing.   as for my ongoing negotiations - i've gotten this latest email from another dealer i am currently 'negotiating' with:   Ok. Yesterday the lease programs changed. I will outline them below. Pricing is still the same, the terms have changed.    These quotes are based on sign & drive(1st pmt and dmv out of pocket only).  2007 Hyundai Santa Fe SE AWD    $495 x 24 months    $459 x 36 months    $432 x 48 months    The touring package is approximately $2600.00 more, therefore the pmt would increase by approximately $60.00 per month.    If there is any other information I could provide to you, please dont hesitate to ask. Thank you.   my first question would be - why would a lease program suddenly change on the 16th of the month? this sounds like BS to me. why would he feel compelled to do this?   otherwise, the numbers look similar to the ones given me by the previous dealer. i'll be doing a bit more 'face time' this Saturday with at least one dealer (possibly more) as the emails only go so far.   if anyone knows if there has been a sudden change in the 'lease program', i'd love to hear some confirmation of this.   thanks.   'wheels'
#50 of 70 Re: Want to Lease a Santa Fe [jak51] by Car_man HOST Jun 14, 2007 (2:31 am)
Replying to: jak51 (May 11, 2007 6:11 am) Hi jak51. If you were to lease a 2007 Hyundai Santa Fe Limited FWD through Hyundai Finance right now for 39 months with 12,000 miles per year (I don't believe that it is offering a special 36 month lease program on this model right now), its buy rate lease money factor and residual value should be .00288 and 48%, respectively. When negotiating your lease on this truck, make sure to take advantage of the $2,000 lease cash that is currently available on it. This cash will help you to negotiate an attractive capitalized cost.   Car_man Host Prices Paid Forum

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