2020 Hyundai Elantra SE (No Package). Located in Bay Area.
This is the lease details I got out of the dealer.
Can someone please explain what the values mean and if it is a good deal?
This is a joke right? We can’t see the monthly payment lol
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If you’re asking this question, the absolutely most important step you need to start with is to walk away from this dealership and delete any emails/contact/etc from them. Do not speak to another dealer until you know exactly what a good deal on this vehicle is and what all the numbers mean. Until you get to that point, you’re just setting yourself up for failure.
Take a gigantic step back and spend a while reading the leasing101 section at the top, ignoring the 1% rule discussion. Then, spend a while researching comparable deals here to really hone in on what an appropriate pre-incentive discount target is to start your calculations.
Talking to a dealer is for finding someone to do your deal. It is never to find out what a car should lease for. If you don’t already know the answer to that question before you start talking to the dealer, your chance of success in getting a good deal is very low.
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The dealer is saying he can’t say what the monthly payments are until I apply for financing. Should he be able to give me the value?
He can give prices contingent on your qualifying for the financing that he’s quoting.
These numbers aren’t useful without knowing what the monthly payment is. Do you know approximately what your credit score is? Just as a starting point, i’d check out rodo.com and see what deals are for the same car there. Usually you can do better than the numbers there if you scope things out on your own or work with a good broker.
Now the real question you want to know is what should you expect to pay for an elantra. Assuming 10k miles/year and 36 month lease (and that you have good credit), I’d say you are probably not getting a good deal if you are paying more than $230/month due at signing and $230/month thereafter (after tax).
I just turned in an elantra value edition (higher than SE) for which I paid $170/month after tax with a total of ~$600 due at signing. That was a really good deal that I probably couldn’t get again. But I think that with some work you should be able to get to ~$200-210/month after taxes.