I drive less than 10,000 miles a year, and miss having a car with boost, so am considering a lease on a 2017 Hyundai Elantra Sport. I have owned all of my vehicles to this point, and have a buyer for my present car without going upside down, so I am interested in leasing. I tend to get a new car every 5 years or so.
36 month / 10,000 miles per year
with $0 money down, only your first payment and plate fees due at the time of signing
$205.32 a month plus tax
$225.85 a month including PA sales tax
Breakdown of first payment and plate fees:
First payment- $225.85
New plate fee + all additional registration fees- $300.55
Total of first payment and plate fees- $526.40
Is this worthwhile? I am not in a rush, so I want to make sure I get a good deal.
We have a quick-and-dirty guide that we use to see if we are at a good starting point for lease negotiations.
Monthly payment (including tax) should be < 1% MSRP for 36m/10k lease with $0 down (just drive-offs). This is just a starting point to see if you are near or far … cars that lease well should be a lot better in terms of payment but for cars that don’t lease well (or optioned to the max), you may be pretty close to that number.
@DocSci82 where are you located? I am trying to get a deal close to what you have (on little credit history, first lease) and first offer is at $293/mo with $0 down (see link above)
The port installed addons kill my < 1% deal. Before I do the 3k in addons after the car it works out to be lower then 1% but after the 3.5k in extra crap it goes above 1% and its KILLING ME. but its residualized I keep telling myself
MSRP: $26,345
Sale price: $25,507
Hyundai offer: $2,000
HMF offer: $750
College grad: $400
12K miles per year, 36 months, lives in Indiana.
Just got a quote from a dealer:
$2,600 down (this is weird because they are cutting checks for me for my trade after payoff, and dealer taking $2,600 from the check, so I consider that as down payment).
$243 per month, including all fees and taxes
$243 drive off
How does this sound? Any idea what is a good monthly payment with no down?
Looks to be rather awful. You are barely getting a discount and you apparently have a down payment. 1/10 would not recommend. Maybe go to the Chicago area where there are more dealers and thus more competition.
My Sport, at least IMHO, is well worth the $224 mo (tax and wear and tear warranty included), no money down. It has a brilliant motor, lots of tech, and a great suspension setup. I’m about 1000 miles in to my 36 mo lease. Loving the car.