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Hyundai Elantra Lease Questions

302 messages,  Last post on May 14, 2013 at 6:16 AM

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What is this discussion about? Hyundai Elantra, Car Leasing, Sedan

Messages Page 18 of 31

#169 of 302 Re: February Elantra Lease Details [kopchikc] by Car_man HOST

Feb 07, 2012 (5:20 pm)

Replying to: kopchikc (Feb 06, 2012 7:17 am)
Greetings kopchikc. Hyundai Finance's February buy rate lease money factor and residual value for a 36-month lease of a 2012 Elantra Limited with 15,000 miles per year are .00190 and 61%, respectively for consumers who qualify for its top credit tier.
 
I believe that there is only a $1,000 cash incentive on leases of this car right now.
 
Good luck in your negotiations and make sure to let us know how everything turns out.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#170 of 302 Re: Elantra 2012 M/T leasing [Car_man] by springpin

Feb 07, 2012 (7:36 pm)

Replying to: Car_man (Feb 07, 2012 5:16 pm)
Thanks Car Man,
I leased 12,000 miles/36 months an A/T Hyundai Elantra GLS Red with preferred package+auto dimming mirror, etc . Sticker price was 19,320 and final price 19,000. This is the breakdown:
 
-Gross Capitalized Cost: 19,595 (19,000+dealer fee of 595)
-I put down $3500, they used $3179.24 as capitalized cost reduction and $320.76 to offset some taxes and fees: FL fee: 68.50, Electronic Filing fee:$93, Title fees: $136.10, tax: $236, finally they gave me a 'credit' of $1,000 to pay for all their fees.
 
-Adjusted capitalized cost: $16, 415
-Residual value:$11,978
-Lease payments:177 +tax
 
What do you guys think? The car is beautiful
Dealer: Rick case hyundai in Davie, FL

#171 of 302 Re: February Elantra Lease Details [Car_man] by kopchikc

Feb 14, 2012 (10:19 am)

Replying to: Car_man (Feb 07, 2012 5:20 pm)
Car_man,
 
I am getting quoted 58% residual for a 2012 Limited w/Tech. Does the Tech package really knock 3% off the residual? I was told the GLS had a higher residual.

#172 of 302 Re: February Elantra Lease Details [kopchikc] by Car_man HOST

Feb 21, 2012 (4:56 pm)

Replying to: kopchikc (Feb 14, 2012 10:19 am)
Good catch, kopchikc. Sorry about the confusion, the residual for the GLS version of the Elantra is 61%. The 58% residual value is correct for the Limited trim level.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#173 of 302 Re: February Elantra Lease Details [Car_man] by chcougar1

Feb 21, 2012 (10:01 pm)

Replying to: Car_man (Feb 21, 2012 4:56 pm)
Hello Car_man,
 
I have been reading this thread and enjoyed your feedback and insight. I am hoping you can assist me. My girlfriend and I are looking at leasing a 2012 Elantra Limited with Technology Package. Let's say we are able to get them down to MSRP around 23,350. Will there be additional fees or can we base our lease off of this cost? She has a credit score around 700, but only has about 6 months of a credit history. She has $6500 to put toward a car, but read your tip that one shouldn't put too much toward a down payment on a lease.
 
What might we be looking at if she put $2000 down on a 36 month/15,000 mile lease?
 
Thanks in advance.

#174 of 302 Re: February Elantra Lease Details [chcougar1] by lamstang94

Feb 23, 2012 (9:00 am)

Replying to: chcougar1 (Feb 21, 2012 10:01 pm)
My friend just leased the same car. He got it for 23200. Not having much credit might put her up in the Tier 2 credit rating which will increase her payments. The upfront fees were first months payment, money for the registration for plates, some BS dealer conveyance fee, he rolled the tax in the payment. He also only put $1000 down.What state are you trying to buy it in? Dealers have different fees but some are these are BS fees.

#175 of 302 Re: February Elantra Lease Details [chcougar1] by dan36124

Feb 24, 2012 (12:59 am)

Replying to: chcougar1 (Feb 21, 2012 10:01 pm)
Hey chcougar-
 
I'm not car man, but figure maybe I can help.
 
I looked up the Elantra Limited with Tech and I get MSRP of 23,470.
Let's say they sell you the car for invoice. 22,413.
a 15k residual should be 58% and the money factor is .00190 (4.56%)
Also I figured a $1,000 incentive. I'm not sure where you live, but I guessed 7% sales tax and NO CAP COST REDUCTION. Never put down anything like that on a lease. If you total the car or it gets stolen and never found, that money is gone. Keep it in your account.
 
So all that figured in, I get $303 a month, that's if they give her .00190, which is no huge bargain...But hopefully they would.
 
The only things you should pay up front on a lease are registration, bank fee and first month. Make them dump the doc fee. Its just pure profit. The tax should be in the payment, don't pay it up front all at once. Also, keep in mind you'll only pay sales tax on the amount of car depreciation you use. Which would be 22417 (selling price) - 13612 (residual) = $8805. Only that is taxable.
 
If you roll in an even $1000 in fees, it looks like $334, just to give you an idea.
 
Hope that helps.

#176 of 302 Lease deal good or bad by lamstang94

Feb 25, 2012 (2:51 pm)

Just got some prices on a 2012 limited elantra with nav, 12,000 miles a year. Dealer told me a residual of 59% and money factor of .00190. Is the residual correct? Price they gave me was 22990. Up front cost were:
 
ACQ fee- 595
first months payment- 290
license and reg, title- 175
dealer convy- 499
cap reduction- 63.50
tax on reg fees.
 
Thinking about asking them to take another $300 off the prices of the car because of that bs conveyance fee. Was told $2500 down and $290 a month. What are your thoughts? Good deal??
 
Thanks

#177 of 302 Re: February Elantra Lease Details [dan36124] by chcougar1

Feb 29, 2012 (9:04 pm)

Replying to: dan36124 (Feb 24, 2012 12:59 am)
Thanks. We live in Washington State, which bends people over on sales tax for auto purchases. I think it is something like 11-12% Thanks for the insight though. That is helpful. We are trying to decide to finance or lease. we would like the lower lease monthly payment, but if she has $6000 she could put down on finance then maybe that is better in the long run.

#178 of 302 Re: February Elantra Lease Details [chcougar1] by Car_man HOST

Mar 04, 2012 (10:44 am)

Replying to: chcougar1 (Feb 21, 2012 10:01 pm)
Thanks chcougar1. You're absolutely correct, you definitely should not make a large down payment when leasing. Consumers who put a lot of money down when leasing risk losing part or all of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered. It's much safer to go with a zero down lease.
 
The only things that would add to the selling price that you negotiated on the Elantra that you want are Hyundai Finance's acquisition fee of $595 (which can be paid at signing if you want) and any state taxes or fees, such as registration, tire tax, sales tax, etc...
 
I need both this car's original full MSRP (including the destination charge) and the selling price that you negotiated to work up a lease payment for you. Let me know what those figures are and I'll gladly crunch some numbers for you.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

Messages Page 18 of 31

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