Is this a good lease deal 2024 Hyundai Palisade Calligraphy AWD in NJ

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Hi everyone! Happy to be a part of this group!

I’ve been shopping around for a 2024 Hyundai Palisade Calligraphy AWD in Central NJ.

This would be a 36-month lease with 12k miles per year and 3,500 down (out of pocket at signing). They will be taking my Toyota Highlander off of my hands. The lease ends in mid-August.

I received two offers and wanted to see if I could get some feedback on these before moving forward.
I’ve uploaded two different quotes from two different dealerships. One is for a silver and the other is for a white model.
Option 2

Option 1
2024 Hyundai

Palisade Calligraphy

  • 291-hp 3.8L V6
  • 8-speed Automatic
  • All-Wheel Drive

Hyper White Pearl

Black Nappa Leather Premium Leather

Stock RU783279 Model J1472A65 VIN KM8R7DGE7RU783279

Base Model

$52,350

Packages and Options

$940

  • Tow Hitch

$575

  • Carpeted Floor Mats

$215

  • Cargo Tray

$150

Premium Colors and Trims

$470

  • Hyper White Pearl

$470

Manufacturer Destination Charge

$1,395

MSRP (Sticker Price)

$55,155

Total Discount

-$3,000

  • DISCOUNT

-$3,000

Faulkner Hyundai Philadelphia Price

$52,155

Trade-In Offer: In-Store Not Inspected Estimate

$29,000

2021 Toyota Highlander

Amount to Due to Lender$28,312

Equity Applied to Deal$688

Manufacturer Rebate

-$1,750

Total Purchase Price

$49,717

LEASE SUMMARY

Term

36 months

Annual Mileage

12,000

Residual Value (64%)

$35,299

Total Due At Signing

$3,500

  • First Payment

$623

  • Down Payment

-$6

  • Estimated Up-Front Registration & Fees

$1,206

  • Sales Tax$1,677
  • Trade-In Applied

-$688

Monthly Payment

$622.61

This deal sheet is valid until Jun 3, 2024, subject to vehicle availability.

Sales tax includes $1,676.80 (6.625%) New Jersey taxes. Capitalized registration & fees include $650.00 Acquisition Fee. Up-front registration & fees include $464.00 Doc, $33.00 Lien Fee, $65.00 Messenger, $208.62 NK Supp Tax, $22.11 Online Fee, $311.00 Reg, $38.00 Temp Tag Fee, $60.00 Title and $4.50 Transfer.

Security deposit waived. The capitalized cost of your lease is $50,372.64, which includes any capitalized taxes, and fees.

Payment subject to approval of credit and includes all taxes and fees and any manufacturer rebates. The monthly payment includes capitalized fees of $18.06 ($650 paid over 36 months). At the end of your lease, a $400 disposition fee may be due.

12,000 miles per year with 20¢/mile overage charge.

Additional taxes, registration and license fees may apply for out of state purchasers based on their registration address. Taxes are estimates. The dealership will help determine accurate taxes prior to delivery.

While Faulkner Hyundai Philadelphia and Roadster try to make sure all information posted here is accurate, we cannot be responsible for typographical and other errors (e.g., data transmission) that may appear on the site. If the posted price (including finance and lease payments) for a vehicle is incorrect, Faulkner Hyundai Philadelphia and Roadster will endeavor to provide you with the correct prices as soon as we become aware of the error. In the event a vehicle is priced incorrectly, Faulkner Hyundai Philadelphia shall have the right to refuse or cancel any orders placed for the vehicle presented with the incorrect price. In addition, vehicle prices are subject to change and all vehicles are subject to prior sale and may not be available when you are ready to purchase. For In Transit Inventory, any date of arrival is estimated. The actual date of delivery may vary due to circumstances beyond Hyundai and the dealer’s control. Please contact your local Hyundai dealer for availability details.

~8% discount seems decent on option 2, but have you shopped your Highlander to make sure you are maximizing the trade value?

Edit: Not seeing the rebate in ratefinder listed in option 1 which is not listed in option 2. If there is a $1750 rebate this month it’s possible ratefinder hasn’t been updated yet. Also, deal 2 is rolling it into the selling price, which would not be a true 8%. You need to verify the MF, RV, incentives independently using rate finder or Edmunds.

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