2017 Hyundai Sonata PHEV Limited 36/12k ($314) - how's this look?

Ask the Hackrs
1

Leasehacker 11.7 score (including post-sale rebates):

2017 Hyundai Sonata PHEV (Plug-in Hybrid) Limited

MSRP; 39,760
Selling: 37,550
Incentives: 9,419 (6,919 Lease cash, 1,500 Competitive lease, 1,000 Uber)
Dealer Flex cash: 250
Term: 36 Months
Miles: 12k / year
RV: 45%
MF: 0.00044 (1.056% APR)

DMV: 309
Doc: 299
Acq: 595
Net Tax: 681 (after trade-in sales tax credit, which thankfully is full payoff value. MD car sales tax law is crazy)

EV Rebate post-sale: 980
BonusDrive Rebate post-sale: 500

Monthly: 314 (excl tax) 334 (incl tax)
Drive Off: 608 (309 DMV + 299 Doc)

I will probably choose to roll all fees & taxes into lease, leaving only 1st payment at signing. I’ll likely use EV Rebate to get a level 2 charger.
Monthly, all fees rolled in: 350.77

Test drive Impressions: Smooth ride, decent power, moderate road noise, really good adaptive cruise control, Excellent Infinity stereo system, nav, and overall UI.

These Sonata Plug-ins are very hard to find. There were only 2 Limiteds within 100 miles of me.

Does this deal look decent? ~6% dealer discount off MSRP before ~24% incentives discount, plus another ~4% post-sale discount through rebates.

2

From my last experience on considering buying a Hyundai I would think you could get that sale price down quite a bit further.

3

Appreciate the feedback. Obviously, if I wait another month, I could add BoostUp (-$500). On the plus side, I can get the $500 BonusDrive rebate in 8-10 weeks, as my company participates. That is in addition to the other discounts listed in my first post. Thanks Leasehackr for that tip!

As it stands, I’m still $1,125 above Circle Plan A pricing, which is calculated as [Invoice - (3% of MSRP excluding Destination) - $250]. I don’t have any valid membership in the Circle program, unfortunately. My understanding is that Hyundai Dealers basically make nothing but $250 off Circle Plan A, and they’re not even obligated to accept Circle Plan coupons on all inventory (they only had 1 Sonata PHEV in stock), so I’d be hard pressed to expect them to volunteer that pricing on the Sonata PHEV with Circle Plan, much less without it.

If they clear $1,125 + $250 = $1,375 in total profit off of my lease, that is equivalent to 3.6% of invoice. Slightly above my normal 3% target, but the experience so far has really been top notch, and getting offered 100% payoff on my 2015 Ford Explorer lease is another major bonus. So that extra 0.6% ($226.83) isn’t really eating away at me, given how hard Ford makes it to payoff a lease early.

(The Hyundai General Manager had to call a local Ford dealer pal, and ask him if he could facilitate payoff, because the originating Ford dealer wants a +$2,000 bonus to accept a payoff from my Hyundai dealer. According to Ford credit, payoff from anyone other than Lessee has to be paid directly to the Ford dealer, not Ford Credit. Glad my Hyundai General manager had previously worked 20 years at the nearby Ford Dealer!)

4

Looks like a good deal overall

5

That is a lot of extra circumstances. There is definitely something to be said about customer service and going the extra mile. Also, it does appear to be a good deal either way.

1 Like
6

Can I ask what are you or your dealer is in?

7

This was Annapolis Hyundai, in Annapolis, MD. I signed the deal, $350.77/month, and I couldn’t be happier with the car. Gone 200 miles, barely used any gas.