Let’s say the agreed on selling price was $31k, but there was $800 for window etching added and mf was marked up by .0004 over buy rate. The normalized sales price there would be about $32500 after accounting for the mark up and the add ons, or about 4.5% pre-incentive. You’d then want to compare against other deals on sonata limiteds here to see how that stacks up. That let’s you adjust for things like incentives that different people qualify for, different sales tax, etc, that would confuse things if you just looked at the monthly payment/das amount.
Generally, it’s best to work these things out before signing.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
- Read Leasing 101 (EDITORIAL | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!! While you’re at it, be sure to watch the LH video (How to Use Leasehackr - YouTube) to brush up on how to most efficiently use the resources here.
- Pick a specific vehicle that you want to target
- Gather the current MF, RV and incentives from the LH Calculator - Lease Program Query or Edmunds forums for your zip code
- Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
- Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
- Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
It’s more work than just randomly picking a made up value and saying “that’s good”, but it gives you a real answer to your question.