Hi All - Would love to hear feedback on the below deal. Initial credit goes to the lease broker that negotiated the original deal for a Sonata SEL + Convenience Package ($279/mo, $0 down, $200 drive off). I think it wasn’t the greatest deal, but saved me tons of time and worth the broker fee. I traded in my current Nissan Rogue Sport lease, for which the dealer gave me $800 equity for the trade (I didn’t spend time negotiating this since that was a good enough number for me). I negotiated the upgrade to the SEL + convenience + premium at the dealer. I took the demo they had on the showroom floor with appx 4500 miles on it.
For the MF, I’m not sure what is actually is, but the “rent charge” is $1692.39, which is added to the $9,431.97 “depreciation & amortized amounts” for the total lease cost. The actual drive-off cost was $1000 (1st month, dealer fee, DMV), but $800 from the trade in was applied toward that, so total drive off was $200.
Great deal for the Premium Pack + 12k miles on the redesigned Sonata! Congratulations and enjoy the car! ~$318 with 0 DAS is the going rate for 2020 SELs with just the Convenience pack and 10k miles; but yours adds sunroof, BOSE sound, leather, and the coveted Heated Steering wheel option and you’re only paying $309 after equity on a Nissan. Nice score!
Hello. Do you have any feedback for me on this lease proposal? It’s for a 2020 Hyundai Sonata SEL Plus. No add ons or packages. Any idea what the MF/RV is? I believe 60% on the RV. ALSO, it says “rebate”. Is that applied to the selling price? So would it come to $25,209 once the rebate is applied? Thank you!
No does not look like a great deal. I bought a Rogue last month (deal was mediocre but I was exhausted), I only looked at Hyundai a little but the OPs deal looks good, yours not so much. His deal is about the equivalent of $280 with O down, taxes, dmv, bank and first payment upfront. Any $1000 that you do or do not put down changes the deal by $30 a month on a 36 month lease. His deal is good for leather and a sunroof.
I do suspect however there was more equity in that Nissan Sport that he traded in, dealers are desperate for used cars in the Tristate area, especially smaller to mid size. Went to a dealership when I was shopping two weeks ago and he wanted to buy my Highlander even as he was laughing at what I wanted to pay on a Rogue or Murano. Needless to say was not interested (the Rogue was not replacing the Highlander). However the idea of there being equity in a lease is not that mainstream a concept in most situations
Yep, I suspect there was more equity in the Rogue sport trade in, but I didn’t spend much time researching. Also, the initial deal was good enough without the trade in ($309 + dmv +Dealer fee drive off), that the trade in was gravy and I didn’t want to spend time negotiating a couple hundred extra bucks.
Thank you!!!