2020 Hyundai Kona SEL AWD - lease quote review

Ask the Hackrs
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1

Hey all, looking for some feedback on a deal im working on for my friend. I blasted about 10 dealers in the vicinity and it looks like this may be the best deal so far. I have been negotiating via email with the Internet Service Manager, received an initial quote of $298/month and I countered with $250/month. He wrote back and said that “If you are able to come close to my price, why not stop in and maybe we can work something out. If not, thank you for the opportunity, but we will pass on this.”

So I am not sure if this is just a ploy to get me into the dealership or is this a legit, “lets make this happen” comment.

Here is the offer so far:

2020 Kona SEL AWD
MSRP: $24,785 (He is stating Invoice is $24,043)
Selling Price: $23,985
Residual: 61%
MF: .00152 (Base, no markup)
Lease Cash: $1500
Loyalty: $500
Tax Rate: 8.875% (NYC)
Due at Signing: 1st, reg and DMV

Here is the calculator that comes as close as possible:

So obviously I am not going to accept this deal, but I am considering calling him up, seeing if $270-$275 is doable and I would be willing to come in to the dealer. I know typically this is frowned upon, but I have the willpower to walk away if things go awry.

At first glance, it doesn’t look like a great deal, but I found this website that talks about markup and holdback, and it seems like its a decent deal if I can bring it down to $275/month:

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Sorry for the long drawn out message, but thoughts?

2

Not even 1k off MSRP before incentives?

3

Yea, that was the initial offer, about 3.2%, when mark up seems to be ~4%.

4

Any particular reason for a 2020 and not just getting a 2019 and prolly a better deal?

See these around your area:

https://www.cargurus.com/Cars/new/searchresults.action?sourceContext=homePageNewCarTab_false_0&newSearchFromOverviewPage=true&inventorySearchWidgetType=AUTO&entitySelectingHelper.selectedEntity=c28837&entitySelectingHelper.selectedEntity2=&zip=10004&distance=100&searchChanged=true&trimNames=SEL+AWD&modelChanged=false&filtersModified=true

5

MSRP, invoice/ hold back, none of those tell you anything about what the dealer cost is. All those numbers do is make you think you are getting a deal, when you might not be.