2020 Hyundai Kona SE AWD

Ask the Hackrs
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1

Hi all,
I’m a recent college graduate in Boston and this is my first time trying to get a car
I read a lot of articles online but I’'m still not sure if I’m getting a good deal :frowning:

I went to a couple of dealers but I feel like they are all giving me really bad deals. This one dealer offered no down pay but $299/mo lol and made another bad offer and was okay with me walking away.

I need a compact SUV with 15,000 mi/yr (long commute) with a budget of low $200 a month.

So this dealer gave me an offer for 2020 Kona SE AWD, and said he can’t go any lower than this:

2020 Kona SE AWD
MSRP: $22,930
Selling Price: $22,150
Invoice: $22500
Residual: 54% (they said it would drop to $12,300ish)
MF: 0.0014
Incentive: $2900
Tax Rate: 6.25% (Boston)
Due at Signing: 1st, reg and DMV + sales tax = $2356 (they said this is no down payment but i didn’t get to see the breakdown. Is it really this expensive?)

  • $220/mo (no tax since already paid at signing)
  • 36 mo
  • 15,000mi/year
  • Free first oil change

I personally feel like it’s not a great deal because I think that the real monthly payment is ~$279/mo

If you think this is not a good deal, what should I aim for?

Thanks, everyone!

2

They’re giving $0 dealer discount and selling at MSRP. You’re wondering if this is a good deal?

I also don’t see how these numbers add up considering Hyundai’s notoriously high MF.

1 Like
3

That residual is garbage. The non-ev’s should be 60-61%. Don’t just walk away from this deal, run!

4

The residual is what it is. You can’t negotiate it

5

I can beat this price if you’re willing to come down to the NJ / PA region … let me know!

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6

What does your price look like? Curious to know… Looking to get a sub-compact SUV for my parents.

Thanks

7

I don’t think there is any upfront tax in MA… can someone confirm?

8

There is not, but the dealer offered upfront tax and not pay taxes for monthly.

9

That makes no sense.

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10

So I contacted the dealer and was able to get more accurate info on the deal.

2020 Kona SE AWD
MSRP: $22,930
Selling Price: $22,150
Invoice: $22500
Residual: 54%
MF: 0.0014
Incentive: $2900
Tax Rate: 6.25% (Boston)
Due at Signing: 1st, reg and DMV + sales tax = $2356 (they said this is no down payment but i didn’t get to see the breakdown. Is it really this expensive?)

They said I should be grateful and be jumping up and down lol

11

This is the same as the first post, except it has even less information.

2 Likes
12

this sucks. they are giving you 780 dollars off msrp.

I’m not sure about MA taxes.

13

Are you for some reason set on this vehicle?

Between the meh rebates, crappy residual and mediocre MF there’s no way to get a great lease deal on it.

14

No, I’m open to other vehicles. I was looking into this car because my friend had this.

I just saw the list, but I need an SUV AWD with 15k mi/yr :frowning:

15

Why do you need an AWD SUV?

Honestly I’d be looking at used given your extremely tight budget.

16

I’m in Boston so it snows a lot and I feel like AWD would be better.

Honestly i don’t know much about cars, so any advice would be appreciated!

17

IMO it’s quite unnecessary unless you’re going skiing in the White Mountains. 48” a year on average is not a lot :slight_smile: seems silly to buy a vehicle for the 3 days a year that the roads are so bad that no one is moving anyway. But it’s your decision. Maybe you should drive both. I’d take FWD with good tires over AWD with mediocre tires every time.

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18

You can change any of these to 15k miles per year for more money…

19

So they’ve told me that the MRSP is $22930, and I saw online on their website that it’s $22930 including freight & handling.

So I did ask for the breakdown for the upfront cost of $2356:

  • Acq Fee: $650
  • Doc Feee: $395
  • Freight & Handling: $1,095
  • First Payment/Taxes: $221
    =Total $2,361

(their math doesn’t even make sense because they charged me $2356, not $2361. ALSO they’re missing registration fee?)

I asked them why they are charging me freight and handling twice, and here’s what they said:

“What do you mean twice? Who’s charging you twice? You know what…cancelling this whole deal is probably a good idea. Lets just cancel it and move on. Seems like you think something is shady and that’s simply not the case. We do this for a living but you are apparently are an expert on the subject even though you’ve never bought or leased a car before. We’ve been VERY upfront and transparent with you since the beginning so I’m not sure what your deal is. What time do you plan on coming in to get your refund?”

Hackrs, I’m new to leasing but what he said doesn’t make sense to me.

Am I wrong?

20

Sounds like a typical shady Hyundai dealer and a typical shady Hyundai salesman. Yes, you actually probably DO know more than he does.

Tell him that you will not be disrespected, copy the GSM on the email and move on.

@Bostoncarconcierge please help this nice lady.

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