2019 Hyundai Kona Ultimate Lease - New to Leasing

Ask the Hackrs
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1

I wanted to ask the experts as I am totally new to leasing. Here’s the deal Ive been offered -

2019 Ultimate with all the bells and whistles in a color that is sold out of California (at least right now in Surf Blue)

MSRP - 28920
Dealer Discount plus Rebate - 25420
Money Down - 2k
Money Factor - .00256 (on a 800 credit score)
Residual Value of car - $16484
3year 10,000 miles lease

Monthly payment with everything included = $381

This seems high to me. Am I crazy? The MF is like a 6% interest rate which seems odd on the credit score.

What are my options if I try to make a deal with this guy since they are the only ones with the color right now?

2

Hyundai has very high MFs. You can get a BMW X2 for way less

1 Like
3

yeah almost $16k to lease it, is more than halfway to owning the thing. It’s popular, it’s a Hyundai, you’re never going to get anything approaching a deal on it. If you must have it, I’d look into buying it.

4

Go to Edmunds forums and ask what the rebates are and what the MF is.

5

You’re paying +15K to lease a +25K car for 3 years. Might as well finance it.

6

I did go to Edmunds and was told the MF was .00232 so just a bit lower

7

When you fall in love with a car that leases poorly to begin with, then want it in a specific color that has limited availability, there’s no pathway to a great deal. I’d open up the options a little bit more, or just finance it at a lower rate if you really want this particular vehicle.

8

Is it also safe to assume even if I went down a trim level the leases would be comparable and still wouldn’t be worth it for what it is?

Thank you all. I guess if I really want it I’ll look into financing.

9

But what would the payment be if you put $9,000 down?

2 Likes
10

If I were going to put that much down I would just finance it

11

+1 20x20x20

12

Congrats, you passed the first class!

1 Like
13

These lease terribly. Look elsewhere for lease deals.