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Hyundai Santa Fe: Lease Questions

73 messages,  Last post on Feb 24, 2010 at 6:16 AM

You are in the Hyundai Santa Fe Forum. Your Hosts are steve_ & tidester

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


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#46 of 73
money factor and residual? by haewalli
May 11, 2007 (8:37 am)
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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 73
Back with more numbers by haewalli
May 14, 2007 (8:20 am)
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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?
#48 of 73
what is the balloon finance rebate about? by lcdos
May 14, 2007 (8:00 pm)
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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!
#49 of 73
new lease program in middle of month? by haewalli
May 17, 2007 (7:42 am)
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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 73
Re: Want to Lease a Santa Fe [jak51] by Car_man HOST
Jun 14, 2007 (2:31 am)
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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
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Prices Paid Forum
#51 of 73
Re: Back with more numbers [haewalli] by Car_man HOST
Jun 14, 2007 (2:37 am)
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Replying to: haewalli (May 14, 2007 8:20 am)

Hi haewalli. The money factor and residual value that you were quoted for this truck look about right to me. The lease cash incentive that you mentioned is correct as well. You mentioned this truck's selling price, which is a very important number, but you never mentioned what its MSRP is. The MSRP will help me to evaluate your deal by showing me how much of a discount you are being given. Let me know what this number is and I'll tell you what I think.
 
Car_man
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Prices Paid Forum
#52 of 73
Re: what is the balloon finance rebate about? [lcdos] by Car_man HOST
Jun 14, 2007 (2:41 am)
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Replying to: lcdos (May 14, 2007 8:00 pm)

Hi lcdos. Balloon notes are very similar to leases. They aren't used nearly as often though, usually just in states like Texas where the sales tax laws make them more attractive than leases. It is true that Hyundai Finance's cash incentive for Santa Fe leases and balloon notes is $2,000, while its normal customer cash is only $1,000, but if you weren't planning on leasing (or balloon noting ) don't let this additional cash push you to do so. Make sure that you find out exactly how much it would cost you to purchase your truck right away if you go with the balloon note option before going in that direction. It may end up being more expensive to break your balloon note early than it would have been to just finance or pay cash for your Santa Fe in the first place.
 
Car_man
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Prices Paid Forum
#53 of 73
Opening dealer bids for a 2007 Santa Fe Limited by hoyasaxa1
Jun 22, 2007 (7:10 am)
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Emailed 5 dealers last night requesting their best offer for a 2007 Santa Fe Limited FWD with Premium or Ultimate Packages. Below are the first two responses. My question is how much negotiating room is there on these two offers, how much lower can I expect to get these down? Any thoughts would be very much appreciated.
 
Thanks.
 
1. Ok This quote is for a Santa Fe Limited with the Ultimate package. 36 month lease with 2,500 due at signing.
2. The vehicle is available now.
3. MSRP 30,260.00
4. Your price is 29,000 less a total cap reducation of 3,738 (your discount + acc fee + rebate of 2,000) = 26,355.32
5. 29,000 +acc fee 595 - down 2500 = 27,095
6. Lease term 36 with 12,000
7. money factor = .00288
8. Residual = 48%
9. Monthly no tax 446.36
 
1. 2007 Hyundai Santa Fe Limited with Premium Package with beige interior 2. Vehicle is ready for delivery tonight before 9:00 p.m.
3. 27,860.00 - MSRP
4. 26500-2000 origination support + 595 acq fee + 498 administrative fee - down payment 2500 5. 36 months 12K miles per year (if you would like a longer term it is
available)
6. .00288 assuming a+ credit rating
7. 13,372.80
8. 397 dollars
#54 of 73
Re: Opening dealer bids for a 2007 Santa Fe Limited [hoyasaxa1] by wooohaaa
Jun 24, 2007 (5:56 am)
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Replying to: hoyasaxa1 (Jun 22, 2007 7:10 am)

Hello carman...
 
How much should the selling price be on the following deal?
 
2007 Santa Fe GLS AUTO FWD with XM (bare bones GLS)
floor mats
 
MSRP 23110 including destination
Edmunds invoice 22224
Residual 59% (24 month/12K miles)
Money factor .00039
$500 down.
 
I believe there is $2000 in rebates from hyundai for leasing.
 
acc fee $495 and dealer fees of $250
tax rate is 7.5%
 
How much do you think I clould get the selling price down to? And what would the monthly payment be?
 
Thanks!
#55 of 73
Re: Opening dealer bids for a 2007 Santa Fe Limited [hoyasaxa1] by aepheme
Jul 02, 2007 (11:47 am)
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Replying to: hoyasaxa1 (Jun 22, 2007 7:10 am)

hoyasaxa1, Any further progress with this deal?
 
Does anyone know if there are any incentives / rates change for the month of July?
 
Is the .00288, 48% deal valid for Zero Down? Is the $1000 acq fee + admin fee a requirement?
 
Looks like the best deal out there would be:
 
Invoice - $1000 (reported market discount) - $2000 (customer cash)?

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