Help/deal check 2020 Kona Limited

Ask the Hackrs
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1

Hello,

Newbie looking to get my wife a new car before I have to leave her for 6 months (deployment). I’ve emailed a couple dealers within 150 miles (not many in SC) asking for prices on 2020 Kona Limited FWD models. Out of those, one dealer has kindly replied back with actual numbers. I just need help understanding what these mean… Here is what the emails said:

12K YEAR
RESIDUAL: 58 %
MONEY Factor: .00144
1750 lease cash
1000 military (limited offer)
Sales price 26070
Msrp 27730
289 x 36 months with 864.82 due at signing
Ps( military coupon requires LES )

I replied back asking what was included in the DAS and they answered back:

Hyundai has a 650 acquisition fee
Tax,tag,and fee are all included in the quote
Due at signing
500 sales tax
289 1st payment
77 new tag
Our closing fee is 449
Every 1000 down in addition to the 864.42 reduces the payment 30 dollars

Now I don’t know if I input this correctly into the calculator but I’ll link what I have HERE. Note the $1000 for military was for May only and is $500 now, however, the dealer said he would still honor the discount to keep the $289.

I’m not sure how to fine tune it to get the numbers the dealer is quoting like sales tax due at signing. But what I have in the calc puts the pre-tax monthly payment within $2 of the quoted monthly payment so I think I’m close.

I believe I may be able to get lower sales price to get closer to my $250 payment goal, but that’s asking for 13% off MSRP and seems a little unrealistic after contacting a few other dealers based on their reactions to my request.

Should I look out of my local market? Probably NY? Reason I’m trying to lease is because there is a high chance I will get a change of station within the next 2 years and can break a lease no penalty under the SCRA. Highly considering a broker but idk if the fee will be worth it for a low priced SUV that doesn’t lease well for LH standards.

Thanks

2

I don’t think you’re going to get to 13% off, but I do think you can probably do $500-750 better on the sales price.

Going to NY will also help with the doc fee. Right now, they’re at $449 doc fee. NY is limited to $75, so if you got the exact same deal in NY, you’d be saving almost $400.

3

Not exactly cheap for a subcompact. Are you open to other makes and models?

4

Unfortunately, the Kona is the vehicle my wife is set on after many test drives in other small SUVs. I don’t blame her, it’s really a really fun car especially with the 1.6T. Just trying to get the best deal I can I suppose.

5

You need to do better than a 5.98% discount on the selling price.

6

Does SC’s $500 sales tax cap apply to purchases too?

Or just leases?

7

I believe it’s both.

8

Wow that type of taxation structure actually incentivizes purchasing.

9

Just to update, they are locked in and won’t budge from the original quote. At this point I feel like I just have to ask if another dealer can beat it.

10

Sounds like a good plan

11

Also use other make/model for leverage.
I think hr-v or c-hr is possible for 250/mo with 250 das.