If you are scared of the money factors, don’t. Hyundai is throwing money at leases in order to make things look more reasonable. Take the Sonata for example, you have $1500 lease cash AND $500 loyalty. Edmunds doesn’t state whether they can be combined or not, but I really don’t see why you couldn’t.
As you can see in my calculation below, the lease payments look decent. If you aren’t a current Hyundai customer, expect payments to be around $310 range since you will not be qualified for the extra $500 in cash. Even then, I think the lease is still a strong one.
Here is a sample calculation based on TrueCar’s Southern California sale price and do not include local taxes. Please note that your dealer calculations may vary due to local fees/taxes.
2012 Hyundai Sonata SE Turbo NAV
MSRP – $28,305
Sale Price – $24,000 ($1500 lease + $500 loyalty cash applied)
Monthly – $295+ tax
RWG Rating – 93.9
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2012 Hyundai Elantra Limited
36 Month – Residual 58% of MSRP – .00190 Base Rate
2012 Hyundai Tucson Limited
36 Month – Residual 53% of MSRP – .00187 Base Rate
2012 Hyundai Sonata Limited
39 Month – Residual 53% of MSRP – .00190 Base Rate
2012 Hyundai Sonata Limited Turbo
36 Month – Residual 54% of MSRP – .00190 Base Rate
2012 Hyundai Sonata SE Turbo NAV
36 Month – Residual 57% of MSRP – .00190 Base Rate
2012 Hyundai Genesis Sedan 5.0 R-Spec
36 Month – Residual 51% of MSRP – .00169 Base Rate
2012 Hyundai Genesis Sedan 3.8L V6
48 Month – Residual 46% of MSRP – .00133 Base Rate
One response
I was helping my mother-in-law with a potential purchase when the salesman mentioned a lease may fit her needs (payments around $250/year over 6 years) better. The idea was to lease then purchase if the math worked out. Here are the figures I got for a:
2012 Hyundai Sonata GLS (with popular package):
MSRP: $22,465
Price: $20,479 (no loyalty or military discount for us, but they’re $500 each).
Hyundai national lease incentive for Sonata: $1,500
Money factor: 0.00140 (GLS only, others are 0.00190 I think)
Residual: 57%
Dealer acquisition fee: $595
Non-purchase (term) fee: $450
That works out to well over 90+ on your calculator. However, my mother-in-law has decided she’d prefer a 2012 Elantra. But I thought your readers might be interested in what worked out to a pretty good deal.
For what it’s worth, I purchased (not leased) a 2012 Sonata myself serveral months ago (same GLS with pop package) and really like it. The price I paid was $20,908 about 2 days after the 2012 models arrived at Northern California dealerships … it was a good price then, but apparently it can be beat now!