2022 Hyundai Sonata Hybrid Limited - $484 Monthly, 0 DAS, 36/12

Thinking about jumping on this for a second car since wife and I just sold our '17 Passat R Line commuter.

What do you all think?

I realized I was taking out the $4k lease cash from the MSRP without taxing it, so the calculation was off by about $20 per month. I figured out how to use the lease hackr calculator properly so I created two assumptions as I get ready to reach out to dealers on sealing a deal. Hoping to get at least $2k off MSRP on top of using the $4k lease cash.

MSRP + $4k Taxed Incentive

$2k Off MSRP + $4k Taxed Incentive

I’ve seen much cheaper deals pop up in the specials section of Rodo.

Any specific recollection? The cheapest Hyundai lease on a Limited non hybrid runs around $350 with 0 DAS. SEL is in the mid to high $200s. Don’t see any sedans outside of Hyundais leasing well.

The cheapest one I see right now is $446. I think the limited time special I saw was just under $400, like $398. But it’s Rodo, so it might not actually have existed if you tried to get it.

Never heard of Rodo until now, thanks going to check it out. Never hurts to look.

The sheet confuses me. What comprises the $1398 “stamp, tag, etc” line?
Why are taxes in there twice? First on the total of lease payments and then again per payment? What is the MF on 39 mos? Line up top states there is an additional $1k incentive for 39. Why do “total of all payments” and “total lease payment” differ?

Your numbers here do not appear to be for $0 das either.

  1. The $1398 is Doc Stamp fee in FL + DMV fees.
  2. Taxes are on there twice because it shows the total payments by Depreciation, Finance Charge and Sales Tax paid over the 36 months ($17,330.45) which when divided by 36 equals to the monthly lease payments below that ($481.40 of which $31.49 are taxes paid monthly). These numbers are also rolling in the dealer and dmv fees.
  3. MF on 39/12 is .00175 RV 56%. Came out to about $8 dollars less a month, but about $1,200 more interest over all.

That being said, I was doing the calculation wrong on my sheet when it comes to the lease cash available, so I put it into the leasehackr calculator now that I figured out how to do it properly. I did two estimates, one assuming the dealers I approach will not negotiate on MSRP at all and one assuming I can convince a dealer to negotiate $2k off MSRP. Before I approach dealers, I am finalizing my research on a 21 Camaro LT1.

MSRP + $4k Taxed Incentive

$2k Off MSRP + $4k Taxed Incentive

They should be unless I missed something, but I did mess up on how I applied the $4k lease cash on my spreadsheet. I just updated the post to reflect the calculators I created on a best and worst scenario deal.

Your payment is calculated as the total lease cost/36. That would be first month’s payment das. To be $0 das, your payment should be total lease cost/35.

Thanks for that, still relatively new to educated leasing, my first proper signed deal was back in April.

Ahhhh… I completely overlooked this is FL. $1k doc fee. Sigh.

I can’t fathom nearly $500/mo on a Sonata. But the wife wants what the wife wants.

On Hyundai website, I see Hyundai special lease offer for this vehicle is $4,500 for Miami area.
The numbers you posted make sense. 58% is a solid residual and the MF is OK, and Hyundai is giving a good 10%+ discount on a $38K car in this market which is great.
I just cannot help but feel this car should not be more than $440 per month.

If you have 720+ credit, you can finance this car from Hyundai for 0% APR.

The doc stamp line doesn’t make sense. There is no doc stamp fee on a lease in FL, that only applies to the loan amount you finance (.35% on amount financed). You will have registration, tag and some minor state mandated fees (tire & battery), a $50 a year lease charge (I think that is right) but all that should be less than $300 total.

You have a dealer fee of $699 also listed so you need to breakout and better understand that $1,399 line item as most of that looks to be additional dealer profit adders like electronic filing and coffee machine maintenance.

Edit: You have $699 dealer acq fee. I think you meant lease acq fee from the captive. So your 1,399 is mostly the dealer doc profit adder. So minus your incentive, you are paying MSRP plus the dealer is adding $1000-1200 in junk fees. So you are paying 3-4% over MSRP…

I was under the impression the Doc Stamp fee is a bullshit fee that Florida gets away with charging asinine amounts for and no dealer will negotiate that at all, on my last lease I negotiated it off the out the door price to make up for it. So the $1389 cost is that plus DMV fees.

The Deal Acquisition Fee is actual $650 not $699, according to the Lease hackr calculator.

But yes, at MSRP, not liking it at all. I would need to get at least 5% off MSRP to fall for it. Ideally I would like to be at around $400 a month which would be around 8 to 10% off MSRP to get there.

If I can finesse 8% off MSRP, I would be around $406 a month. If I only manage 5% off MSRP, I would be around $440. The limited trim has a lot of tech, thats mostly the reason I want it. If I drop down to a SEL ot Blue trim, payments drop by about 50 to 75 a month. Those are leasing great as well.

In South Fl:

It looks to me like a nomenclature issue. Dealer doc fees are being rolled together with the gov fees into the $1399 value and the acq fee is being labeled as a dealer fee.

I suspect a better breakdown (which highlights the high, even by FL standards, doc fee) is

acq fee: $650
gov fee: $300ish
dealer doc: $1100ish

A high doc fee is a reality of the FL market, but that’s extra high.

Fair point. Quick math shows I would be overpaying by around $7k if I lease THEN buy out and finance the car at the end of lease. I believe that 0 apr is for 60 months so the monthly payments would be higher, but then again, 0 apr.

I am ultimately feeling more prepared to try and negotiate 5 to 8% off MSRP to make up for the ridiculous doc fees and a bit more, try and get it down to $410 a month. At that I would jump on it.

This is correct, I bundle in Doc Stamp and DMV fees into a single line in the spreadsheet. I need to work on it more, but going forward I am just going to use the lease hckr calculator, I’ve just been so used to spreadsheets for so long.

That being said, doc stamp should really be more around $899 max and the DMV fees more along the lines of $300. I go in with a worst case scenario on these things. These are drafts more or less of where I think I can fall in when I get to the dealer.

Just as a matter of semantics, a “doc stamp” is a specific excise tax in FL that isn’t applicable here and is a totally different thing from a dealer doc fee.

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