Hi all…new to leases and I’ve been going back and forth with the dealer between buying and leasing. Hyundai is passing on the $7500 EV credit with a lease, so I’m leaning that way. The dealer is basically offering exactly what’s on the HMF website, so I can’t tell if it’s a “good” deal or not.
FWIW, I’m in Maryland. Also, after sending me this, he said they could probably reduce the MSRP by $2000. I’ve been reading a ton on the forums/reddit and have a ton of unanswered questions, but first of all, can someone take a look at the lease and see if it seems reasonable? Math check too…It looks like my MF would be .00345/8.29%? That seems very high for near perfect credit, but maybe that’s normal with today’s rates?
Best place to start here is to baseline against other deals here to establish what is a good discount off MSRP.
After that, you need to plug in the appropriate rv/mf/incentives to establish your target deal. Having that worked out will give you something you can actually compare against.
Having current, accurate information for residual value, money factor, and incentives is important in understanding your deal. As such, going directly to a source that has access to that data from the captive banks is your best option.
Rate Findr has that information, as they have direct access to it from the captive banks. It’s a tool on the Leasehackr Calculator, available to Super Supporters.
That IS the plan, so I’d be asking for a lower down payment amount. But the buyout had additional questions, like conflicting posts regarding MD taxes and whether you pay the full amount at the start of the lease, then again when you buy it out on the remaining value.
Financing it, they’ll only offer $2000 discount, and I figure if they’ll give me $2000 off MSRP +$7500 EV credit for a lease, that’s my better option, especially if I plan to buy it out.
It seems pretty cut and dried…basically what HMF has on their site, so it doesn’t seem like a GOOD deal, just a regular no-negotiation lease. He said the MF they put in was for 750+ credit ratings, so that shouldn’t change for me. Additional info on the gross cap cost:
