Deal Check: Hyundai Santa Fe Lease Advice + Early Turn In Question

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Hi All,

My wife’s lease is up on April 4, and I started calling around and getting some pricing.

Currently she’s in a '22 Santa Fe Limited and we’re bumping up on the alotted mileage. We will probalby hit it this week.

I found the best deal I’ve been able to find in Chicagoland for a new Santa Fe for her in the color she wants.

We’re looking at a new '25 Santa Fe Calligraphy and she wants it in the Blue color, which seems to be pretty rare - but not commanding a preimum - they just don’t seem to have a lot of them on lots.

The lease we are considering is as follows:

2025 Santa Fe Calligraphy (Demo with ~5K miles)

MSRP: $50,470
Selling price: $46,931
Gross Cap Cost: $50,940.04 - consisting of:

  • Taxes: $1,834
  • Fees: $838 - These are not broken out, but I am assuming this includs Tags, Title, Doc fee)
  • Acquisition Fee: $650
  • First Monthly Payment: 687.04

Taxable Incentive: $1,500 (Lease Cash from Hyundai)
Adjusted cap cost: $49,440.04

Terms: 36/15K
Residual: $31,115.26 - (61.65% - 63% is the promo residual, but residual is taking a hit due to demo mileage)
MF - 0.00221 (Buy rate on promo is 0.00208)

Sign and drive: $687.04 as presented.

After a phone conversation with the finance manager, he didn’t send me the numbers but he sharpened his pencil and said sign and drive would be $675.

Usualy on a lease I put down first and fees (First monthly, Acquisition, Title/License/Docfee) - so I had him figure it with $2K down and he said we’d be at $625/month.

It’s the best deal I’ve found so far after calling about 6 dealerships with the car in stock. TBH, the 5K miles doesn’t bother me all that much - My wife would still be driving the same car she wants. The only thing that concerns me is I’d be more likely than not to need a set of tires at the end of the lease, but even at 45K (Brand new) vs 50K (This demo) miles, I’d likely still need tires.

Any opinions on this deal? Am I just not trying hard enough or do I need to outsource this to the Delivrds of the world?

I can’t seem to find a lease in Illinois that is under $700 with 0 down, nor can I get the calculator on LH to even remotely come close to what a lease costs in Illinois. Supposedly tax is assessed on the monthly payment, but Illinois taxes all cap cost reduction and then you pay the taxes up front - and most of the time they are in the adjusted cap cost - so it’s been hard to actually compute the lease myself by hand. Based on what I know about leasing, I’ve built a spreadsheet to take in all the inputs and it’s within $1 of Leasehackr’s calculator, but not what dealers come back with.

Lastly - I can’t seem to find any clear language on what happens if I were to buy this car tomorrow (Feb 8.) Our lease matures on April 4. We have one payment left - and I’m going to try and see if they will waive / eat that last payment. I know turning a lease in early typically comes with some penalties, and I’ve never turned one in early. I know turning it in with 6+ months left or even years racks up the penalties - but what about <60 days? The contract has some crazy language that makes my head spin to read it.

Thanks for any advice!

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If early, the dealer has to buy it out, and they will not take a loss and put those payments into your Santa Fe so basically you are paying for the old car regardless.

And if the dealer is not giving you Buy Rate, then they are going to really skunk you on the trade in.

Did you see if you have any equity in the car? Since it is Gas, there is a slight possibility of that.

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No equity, a bit under. Hyundai bumped residuals when I bought it, they were in the 60’s as well. Given they have an entirely new generation of Santa Fe, this one is in the hole by a couple of grand. Yay leasing.

4

Make the payments and ground it at the dealer . You need a preinspection or you can get burned on fees.

5

Make the payments and ground it at the dealer . You need a preinspection or you can get burned on fees.

Does this mean just wait it out or simply pay the last lease payment and then turn it in tomorrow if we decide to do this.

Based on the Hyundai lease end kit, I’m good on all damages. I also have a $500 credit toward wear and tear items if I lease another Hyundai. They advertise it as “$900 gift for leasing another Hyundai” - eating the disposition fee and up to $500 worth of wear and tear credits.

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Was also hoping to get some advice on the lease itself - is it a decent deal?

7

I told you if they are marking up the MF a minor flag goes off. What else are they hiding in that list of items

And you can make your payments earlier and turn in the car early…if all payments are made.

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[quote=“forbs, post:7, topic:646903”] What else are they hiding in that list of items
[/quote]

I have the breakdown of the lease… Vehicle cost, tax, doc fees, and title and license. I dont see where else they can be hiding anything.

9

Wait til late March. There’s no reason to pay $675 for a Santa Fe.

And don’t call asking for quotes. Know what your target selling price should be, build a LH calculator to see how that translates into monthly payments and ask the forum if you have questions for either step.

PS don’t overpay for a Hyundai lease even if they try to tempt you with carrots like waived disp. if you can find a better deal like a CX90 for example

10

The LH calculator does not work for Illinois.

I’ve called six dealerships - and nobody is coming in below 7% off MSRP.

If it were me, I’d probably lease something else - but my wife really likes the Santa Fe or the X5. The X5 is out of the budget as they do not lease well.

11

Paying the mileage overage is going to be cheaper (assuming the extra miles don’t push the tires over the limit). That 500 waiver might also cover mileage overage.

12

It’s assessed on the total lease cost just like NY and NJ, afaik, and the calculator should work just fine when you select that option.

Exception would be residents of the city of Chicago who have an additional tax.

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