Last post on Apr 14, 2013 at 2:03 PM
You are in the Hyundai Sonata
What is this discussion about?
Hyundai Sonata, Sedan
#12 of 27 Re: Black Friday Sonata [backy]
Nov 25, 2012 (3:48 pm)
and you're paying $47.50/month? That's an impossibly low lease payment for a 3 year lease of a base GLS. Assuming what you say that all you put down was your trade.
#13 of 27 Re: Black Friday Sonata [mpl82]
Nov 25, 2012 (4:24 pm)
Yeah, I thought it was a pretty good deal too. Except it wasn't a base GLS... it was a Package 2 with every other available accessory except the iPod cable... MSRP $23,155 I think. So about as loaded as a GLS can be.
There's lots of incentives now on Sonatas including the $500 loyalty rebate, which I qualified for--it went to the dealer of course.
Also it's $47.80... but what's 30 cents a month?
The dealer must think they can make it work on my trade as they have their own body shop so they can do the repair work during quiet times basically at almost no cost except some paint, a new mirror, and a few wheel covers--they'd have to pay their people anyways. They can make it look like new and sell it at a nice profit, given its low miles and excellent mechanical condition. But for me, it would have cost a pretty penny to have the car repaired. And I'd have to do that pretty soon as I can't drive a trashed-out looking car, plus some of the damage would rust this winter if I didn't fix it.
So I think it was a win/win.
#14 of 27 End of the year purchase
Dec 28, 2012 (11:02 pm)
Just bought a 2013 SE 2.4 with Nav. I live around BR and have been researching a car for my wife. Looked at the 2013 Accord Sport & EX, and the 2012 Camry. She liked both of those more than the Sonata from the initial test drives she had with all of them. I didn't like the interior that the Accord offered on the EX and the Sport was a little too plain, but nice looking on the outside. Her love was the Camry and the comfort of the seats. We were looking at the SE Camry and their Convenience package which also was mostly paired with Nav. In the end, she didn't like the "stale" looking Camry and the fact that one is on every corner. She wanted to try something different and this was it. We had 2006 3.3 Sonata that was just recently totaled out in Sept.2012. After looking looking at cars she knew what color she wanted and we found it and now its hers.
#15 of 27 Re: Black Friday Sonata [mpl82]
Jan 01, 2013 (3:40 pm)
Actually the $47.80/mo for a 36mo lease is right on with current market pricing for a Sonata GLS with the Preferred Package. Based on $6,000 down from the trade, $47.80/mo comes out to a price for the Sonata of $20,350 which is the current True Car target price for this car. Without the trade, the monthly payment would have been ~$235/mo which is also right on with current market pricing.
#16 of 27 Re: Black Friday Sonata [ryster]
Jan 01, 2013 (4:01 pm)
Your numbers are off.
35 x $47.80 (first payment made by the dealer) = $1,673.
($1,673 + $6,000) / 36 = $213 per month.
Also don't forget this was not just the Preferred Package, but had several other options (self-dimming mirror with Homelink, two sets of mats, mud guards, rear bumper protector, cargo net).
But the best part about the deal for me was that my old Sonata wasn't worth anywhere close to $6,000 to me, because of the body damage. So I was happy to trade it in at that price.
#17 of 27 Re: Black Friday Sonata [backy]
Jan 05, 2013 (6:19 am)
I was calculating from the bottom up, to include residual value, money factor, estimated sales tax, the $6000 trade, etc. A higher residual value could easily account for the $720 difference.
I probably would have put enough additional money down to just drive away payment free for 36 months. When you get a monthly payment down that low it just seems easier to pay it upfront and not have to deal with it.
#18 of 27 Re: Black Friday Sonata [ryster]
Jan 05, 2013 (12:49 pm)
I probably would have put enough additional money down to just drive away payment free for 36 months.
I tried, in fact my position going in was a simple exchange of keys, nothing up front, no payments (I knew that was a big stretch given the condition of my trade, but figured what the heck, might as well try for it). But the sales manager said that Hyundai Finance would not do leases w/o a monthly payment. I was kinda surprised by that, as I've heard of leases with a single payment up front. I plan on calling Hyundai Finance in the near future and see if they'll accept payment up front now, for a little discount.
P.S. Residual is kinda meaningless IMO. If it's too high relative to the value of the car at the end of the lease, I'll walk away, or negotiate a lower buy-out (which I've done on leases in the past). I leased a Sentra nearly 3 years ago and at the time thought the residual was kinda high, about $11k, but the payments were only $179/39 months with nothing up front except first payment, plus they threw in a free DVD player and nav system. I figured I'd walk away at the end of the lease. But with used car values rising in the past few years, that $11k doesn't look all that bad now so I may keep the car when the lease is up in July.
#19 of 27 $50.00 thank you master card
Mar 10, 2013 (12:45 am)
I received a $50.00 Hyundai reward card in the mail along with athank you card for purchasing 2013 sonata. I actually leased one for 36 months. activated and spent it walmart today. anyone else get a reward card?
#20 of 27 $50.00 thank you master card
Mar 10, 2013 (12:46 am)
I received a $50.00 Hyundai reward card in the mail along with athank you card for purchasing 2013 sonata. I actually leased one for 36 months. Activated and spent it walmart today. anyone else get a reward card?
#21 of 27 Hyundai Reliability?
Mar 14, 2013 (10:49 am)
I personally really like the look of the Sonata and congrats to Hyundai for breaking the mold on what a family car should like like.
My only concern with this car is will it be reliable in 10 years because I like to hold on to cars gotten all I can out of them. It seems like where I find looks reliability comes into question (Sonata, Fusion, Optima) and where I find reliability (Camry, Accord, Altima) looks go out the window. I have a 2010 Elantra and the engine idles louder than I'm used to and the transmission does not seem the best. But I like the look of the car and it seems reliable.
Most Hyundai reviews start off with it's a great car for the price, or the car has a good warranty. But you're not thinking about the price or the warranty when your on the side of the road. Likewise if the car runs great but is a boring to drive, who even would want to keep it for 10 plus years? It seems like Hyundai is stepping up and giving us a quality product and a good price. I might buy a Sonata next year for more room, 3-4 years should give us a good idea of how this 2011 design will hold up.
Warranties help with big repairs like engine and tranny issues, but with the random clunk, rattle and steering issues that plague cheaper cars the dealership turns a blind eye and says they don't hear it or it's normal - then you just end up living with it.
Bottom line I want a fun to drive, nice looking, reliable vehicle and I think for around the $25,000 most people pay for mid-sized cars, there is no reason we shouldn't get it.