I’ve been emailing some Hyundai dealers in SoCal about a Kona SE EV. There is a $3000 incentive from Hyundai for leasing, which seems like a decent deal in this transition environment.
The best quote I’ve gotten for 36/12 is $386 + tax (7.75%), so ~ $416 per month with $2000 DAS. The screenshot I got from the dealer looks a little weird though, so I’d like to make sure I am reading it correctly.
This is what is listed:
MSRP: $35725
Selling price: $35725
Rebate: $3000
Government fees: $480.75
Proc/Doc fee: $85
Gross Cap cost: $36375
Cash cap reduction: $2000
Cap cost reduction: $3723.79
Adjusted cap cost: $32651.21
Paid by customer: $2000
So the “cash cap reduction” is the same thing as “paid by customer”, which is the amount due at signing and covers first month payment, registration and fees, additional cap cost reduction, and sales tax?
Plugging it into the calculator (along with quotes from other dealers), looks like MF is around 0.00175? Is there a hidden fee “oops we didn’t list this, and your $2000 is not due at signing but downpayment” that they might try to stick on once I go in to sign?
I saw Jeff’s post and sent him a message. His contact is in LA though so it’s a little out of the way for me.
The price I am getting quoted is also the same, which surprised me a little bit. Via text the dealer is say 375+tax, $2000 DAS for 36/10. I asked for 36/12 and an actual quote and got that screenshot. Just want to make sure since the wording on the screenshot looks different from what I get from other dealers
Well if you get a good as or better deal than Jeff’s then ok. Otherwise a few $ train ride can save you lots of $$$
But on your post.
Cap Cost Reduction is Down + Rebate - Fees. So it appears that $1266 of Fees was deducted from your cash leaving $3723 to lower the selling price to the Adjusted Cap Cost.
The MF I can’t tell you as without a calculator I can’t tell.
They will try to Upsell you when you get in, just make sure you are paying $2000 and $480.75 and you will not be charged extra.
