Hi All, this is my first lease and need your advise if this is a good deal or not. I do want to put a larger down payment to keep the monthly as low as possible. The payments do include gap coverage. I know the residual is very low, but this is the car I want: Hyundai, Elantra Sport. Here’s what I’ve been given so far:
Sell Price: $25,950
Proc/Doc fee: $80.00
Acquisition Fee: $650.00
Gross Cap Cost: $26,968.43
Residual Value: $12,665.00
Cash Cap Reduction: $4,550.00
Net Cap Cost: $18,430.12
Down Payment: $4,550.00
Terrible deal. That discount is tiny and putting a down payment is NOT a good idea.
Update the title to what car you want. Your title is the epitome of an atrocious one
I would run away from that one. That’s a lot of cheese for a Hyundai Elantra.
You can’t be serious.
I lease a $44k Infiniti Q50 for less than that!
Also, sorry but there is no logic to putting a large down payment so that your monthly is lower. The outlay is the nearly same - you can afford the higher monthly payments if you can afford the high down payment, and you won’t be screwed in the unlikely event you total the vehicle.
Look up my Hyundai Elantra Sport thread on here.
I put $500 down and pay $175 a month for 12k miles annually, this includes tax.
Your price is highway robbery.
It’s hard to hack a lease when you box yourself into a corner with “I must have model xxx”, even when it’s leasing poorly that time. Search old threads, the Elantra Sport was a well hacked deal last summer.