Hello Everyone, I am new to this forum and new to leasing. I am tight on cash which is why i am going this route and desperate for help on guidance…
I did a quick search for leasing options online near Seattle and saw this:
Is this a good deal? I don’t want to do a down payment but i’m assuming the upfront cost is associated with taxes and titles…etc.
Any help would be greatly appreciated!
Thanks,
Shawn
That’s $234 plus tax sign and drive, I’ve said it before, you can get an Sonata for that payment. Go look at VW, you can get a Passat or new Jetta for this money. The jeep Cherokee’s are leasing for that too, hard to get excited for an Elantra for mid 200’s.
Got it. So I can basically get a better car for same price
Yes, hunt around some more
NO, i was hyundai sales, lease something else
That isn’t even an actual quote, but rather a crappy dealer “sale.” Don’t bother posting stuff like this unless you have an actual quote
Im just new and dont know whats good and whats not. If its not good, I wouldn’t go to the dealership. Im just in a hurry to get a car and dont want to get ripped off…if its good, I would just go and get it. I appreciate the help everyone!
In general, most consider 1% as a gauge for a deal. That Elantra has MSRP of $18,835. Monthly payment of $189 would be a good, not great deal. Your Due At Signing (DAS) of $1,999 includes first month payment and $1,820 capitalized cost reduction which translates to additional $55 in monthly equivalent.
So $240 for an Elantra, no thank you. That $1,999 kills the deal. If it was $500 due a signing at $189 I’d take it if I really needed a car.
Thank you for the info! Im quickly learning whats good and whats not!
No problem! That $1,999 down is where they get you and the $179 doesn’t include tax. They basically want you to pay for 49% of the msrp for the vehicle that you don’t own.
Does Honcker have any dealers signed on in your area? I know they’re in a number of states, but I don’t know which ones. Try downloading their app, put in your zip code, and check it out. I had a great experience getting my Jeep Compass through their app (when coincidentally I was also looking at the Elantra and Sonata). It was nice being able to search for cars by features and see the exact monthly price for any car listed (as compared to a dealer’s ad which is very generic).
As with leasing through any means, don’t limit yourself to searching for the cars you think you can afford… many times the higher up brands/models lease better and have better pricing than a lower MSRP one. With my Jeep Compass Limited (loaded), I’m paying just a little more than I had been on my previous base model Sonata, and far less than I would have on a new Sonata SEL, even through the Jeep’s MSRP is around $5k higher. And reading through other’s posts on this awesome site, there’s cases where people leased a $55k vehicle for a lower payment than my wife got on her $33k VW Tiguan!
-Justin
Stock# H5682 2018 Hyundai Elantra
MSRP: $19,110
Sale Price: $15,488
Lease Cash: ($4,490)
License estimate: $550
Doc Fee: $150
3 year with 12k miles per year
0 down = $198 including tax and everything
Thoughts? Can i do better? What would make this a good deal?
I think that’s a good deal dude. I’d see if they can make it $191 so it meets the 1% rule.