Hi Everyone, I need your help please. I got this offer on a 2021 Hyundai Santa Fe SELwith the Premium and Convenience packages (plus a couple of other things this vehicle already has) and I wanted to find out if it in fact a good deal. The dealer is Coconut Creek Hyundai in Coconut Creek, FL. I would like to know if all those fees listed are legit. Thanks for your feedback!
The $950 dealer fee they’ve got on their is embarrassingly high, even for Florida. This is basically a full MSRP deal with that factored in, not to mention any potential MF mark up.
You also need to look at your trade equity independently of the numbers they’re listing here. Right now, this is about $500/mo for $36k sante fe. That’s horrible.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
- Read Leasing 101 (Blog | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!!
- Pick a specific vehicle that you want to target
- Gather the current MF, RV and incentives from Edmunds forums for your zip code
- Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
- Plug your numbers into the LH calculator, and use a pre-incentive discount similar to what you have seen
- Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
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Adding to this, if you are in Dade, Broward, or Palm Beach, your sales tax is 7%, not 8%.
Even though FL doc fees are usually high, a Hyundai doc. fee shouldn’t be $1,000. I know of Volvo dealerships in FL that are a “paltry” $700 or $800 compared to this.
Correct regarding taxes. I’m in Broward so the tax should be 7%.
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Thank you very much for the insight!
You’re unlikely to find a good deal on this car… you’d have to be open to other makes and models.
Why is that? Is it in high demand and low inventory?
Brand new vehicle, lower inventory, and Hyundai dealers hoping that customer tolerance to high prices will follow what happened with the palisade.
Vehicles that are complete redesigns generally are poor leasing candidates for a while.
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Thank you for your info!
Just for comparison (take it with a grain of salt with what the RODO vehicle actually is and if the deal is real) a similar equipped Santa Fe with convenience and premium package is about 461 with 461 DAS for a 12/36 not including your trade equity. This offer is for South Florida/Boca Raton area.
Out of curiosity what’s the name of the salesperson that gave you this quote? 
Looks like a lazy 2 click website browsing than a quote!
!
If you already started working with a salesperson in the dealership, there is a conflict of interest and I will not get involved…
Similar case of customers showing up at the dealership with my quotes in hand and trying to work it with other sales persons, just to learn that not everyone would give cars away!
Off the bat we know this is a bad deal since the 410 payment is way above 1% of MSRP of 28k. You need to ask for a bigger discount to try and make this close to 250 payment. Also check for incentives and MF.
Or one could base their targets in reality rather than made up payments pulled out of thin air.
Right off the bat we know you’ve posted hundreds if not thousands of times and they’ve never added any value
This is high by about $48-55/month, but believable for a retail 1st pencil in Florida, home of high dealer fees.
I could ship one to Florida, inclusive of shipping and broker fee, for about $30/month cheaper than the offer in the OP. But trade-in would have to be handled separately (or sell to the usual suspects).
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