2025 Hyundai Elantra

In Florida, went to my local Hyundai Dealer to get my first flat and was offered the lease option below for a 2025 Elantra

Had an amazing salesmen helping out, spent about 2-3 hours in the dealership trying to get prices as low as possible and he worked overtime to make sure I was happy.

Of course what I post is the lowest I was able to get it down to and it’s still more than I was looking to pay.

Have a co-signer with an 808 and good credit history so will be using that.

Please help me understand if I’m looking at the best deal, or if I’m missing out on something/anything that can help me save money.

I can beat this. Text if interested. 516-550-3707

I am glad you had a great experience! That is the fun part of shopping for a car. Now use a broker to get the best possible deal. Sales people are great for showing you the car and going over features. Most brokers (NOT ALL) have next to no idea on how to operate the vehicle they are selling you.

Sales people for product demo
Broker for a more agressive deal.

Good luck and enjoy your new car!

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A post like this on here will only generate “use a broker” responses.

You really need to start with the leasing 101 and read the forum.

Then put your deal in a calc and post it for more detailed analysis.

Oh, and BTW, he didn’t work overtime to make sure you were happy, he worked overtime trying to close a deal.

First question to be answered is whether you’ve picked a hackable car. Is the cost of consecutive leases followed by leasing again lower than the net cost of financing followed by trading in followed by financing again?

I put it in the leasehackr calc, right infront of the dude and it came out to $119/mo for $2,899 due at signing. And he just sat there explaining how I already have the best deal and what I’m looking at isn’t realistic.

Threw what you said into chat gpt and will be looking for this info, thanks.

I am glad you had a great experience with a friendly salesman. Hard stop there. They will try to be your best friend. This is a business transaction and they will get salty and rude once you approach this as such. They are not your best friend, they don’t have your best interest at heart, and you most likely will never see them again.

With that being said, first things first, what are your needs for a car? Are you payment shopping, or want/need shopping? Sometimes a Hyundai can cost more to lease than a Mercedes. Low msrp does not equal low lease payments a majority of the time.

Now let’s look at this offer that you have here. First thing of note, the money factor (essentially the interest rate for this loan) is about 6%. Other captive banks (Toyota Financial, GM financial etc) may have rates of less than 1% depending on the vehicle. The money factor is the amount of interest you will pay over the course of the lease. The lower the mf, the better, most of the time.

In this particular offer, what is the actual sticker/msrp of the vehicle vs the market value selling price? A $8k discount could seem very strong, however, it could be $8k off of a vehicle that is priced $6k above msrp due to addons or other fees.

Do you qualify for any additional rebates or incentives? Hyundai has education/college discount and I believe first responder discount. You want all incentives separated out from the dealer discount as those are not dealer discounts, they are incentives from the manufacturer.

Lastly and quickly, you have to look at “effective cost”. A lot of people look at the monthly and think they got a good deal. I could get a Ferrari for $300 a month, but that would be with putting $50,000 down payment. Effective cost is basically, how much are you actually spending per month on this vehicle? For this car, you would take the $2500 down, which isn’t a good idea on a lease anyway, and divide that by 39 which roughly $65 per month. Take that $65 per month and add it to your “monthly” and you get a payment of $365 a month for 39 months, which is your effective payment. Take the 365 per month, multiply it by 39, and you have essentially paid about $14k to lease a car for 39 months on a $24k car.

Either way, imo, you can do way better on a different vehicle for $365 a month. If you are dead set on this car, I would check out incentives, money factor rates for different terms, and find the true price of the vehicle sticker and any other hidden fees or add ons.

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Rule number 1, we don’t talk about fight club
lol. Sorry but don’t show the sales guy Leasehacker. They have no idea how a lease works. You can use the numbers on your own to show your research but don’t mention or pull out Leasehacker in front of them. Also check Edmunds for money factor and incentives.

So, use the calculator for yourself, but showing it to a sales rep is wasting everyone’s time.

If you know what an aggressive deal looks like, find dealers with inventory and email them an offer on a car. Don’t send the calc, just the DAS and the monthly for a specific VIN.

Expect a lot of Nos. It is end of month you may get lucky!

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Why would this forum have any traffic if you could throw anything into AI and get an actionable answer? You’ll just get a word salad.

Which part of what I wrote did you not understand?

Thank you, love the insight very helpful

Definitely :rofl: realized this when he tried to explain how I was “Lost” and he seemed lost asf

Really just what “hackable” specifically meant, which I understand now. What you said makes sense just didn’t click for me immediately for whatever reason, still new to all this.

I appreciate your insight and following up as-well to help explain.

Whole community is very helpful

Im actually now looking at getting some offers from Kia K4 LX from my cousin who works at Greenway Kia East

Your cousin unfortunately cannot do anything about the hackability of any car because it’s set by the finance company. Whatever discount on the selling price he’s offering you on an unhacked car, that just makes it more appealing to buy rather than lease.

Read this post.