Auto response at its finest.
So hereās the numbers they gave me over the phone but something is amiss
Year: [2017]
Make, Model, and Trim: [Hyundai Elantra Value]
Months/Annual Mileage: [36/10K]
MSRP: [21360]
Invoice: [20977]
Sales Price: [19374]
Incentives: [3500 = $2000 Lease Cash + $500 Sales Event + $1000 Uber] (I assume taxed incentive)
Note: The Hyundai site shows $3000 Lease Cash which the rep said wasnāt the case.
RV: [60%]
MF: [.00095]
Note: The rep said .0095 but I assume (read: hope) he made an honest mistake here and meant .00095
Acquisition: [595]
Doc: [589]
License/Registration: [64]
Sales Tax: [4.15%]
Credit: [Tier 1]
So according to the sales rep:
Taxes: [844.44] are levied against the MSRP not the agreed upon sales price.
Drive Off: [1790] which includes first payment and taxes
Monthly: [212.77]
Either Iāve done something wrong and/or Iām missing something or ā¦?
For what itās worth, LH calc:
Although Uber isnāt listed below, the rep confirmed Uber is available.
Today I reached out to a different dealership grilling them on their āInternet Priceā and after confirming & reconfirming they have very different numbers from the dealership above:
MSRP: [21360]
Incentives/Rebates: [6404] (or 7404 if the Hyundai pricing sticks)
- Lease Cash: 2000 (they may honor the pricing Iām seeing on the Hyundai site which would be an extra 1k)
- Sales Event: 500
- Uber : 1000
- HMF Bonus APR Cash: 750
- Dealer Discount: 2154
Sales Price: [14456] (or 13456 if the Hyundai pricing sticks)
RV: [60%]
Months: [36]
MF: [.00067]
Doc: [689.20]
License: [77]
Freight: [835]
Sales Tax: [4.15%] (although he quoted me .035, Iām sticking with whatās listed here)
Not sure who to believe at this point because this, to me anyway, falls squarely in the too good to be true category.
Either the theyāre stretching the truth (i.e.: I donāt actually qualify for all those incentives) or the MF is wrong or ā¦ ?
I have one more dealership to reach out to and Iāll document those numbers here.
Anyway, Iāll get to the bottom of all of this between now and Sunday.
You have a lot of things going on here. First of all, as far as I know, the mf was .00114 so hopefully for your sake, it dropped to what you have listed. Secondly, the $3,000 lease cash is regional so you can varify via hyundais website by building a car with your zip code. Lastly, you CANNOT use the HMF bonus APR cash unless you are financing.
I would shoot for a $19,000 or less sales price and the $4,500 in incentives. That should put you under $100 per month depending on your states taxes and such.
Thanks for the insight Raven.
I saw nyclifeās post so I was surprised when todayās guy said .00067. Iāve been assuming an MF between .00110 - .00117.
I figured the HMF bonus wasnāt in play and since I couldnāt find anything confirming either way I wasnāt banking (har) on it.
Iām going to try to shoot for something between 18859 to $19000 capping at around 19224 before incentives.
Weāll see.
I got a quote from a dealer today for a $125.25/mo payment with $2728 ($400 cash down + $125.25 first payment & 2203.02 in fees).
Since my car safety inspection expires at the end of this month, I took care of that to finish my Uber driver sign up and visited a dealership nearby on a whim. Turns out, they were able to improve the numbers: $115/mo with $2500 out the door ($115 first payment, $2122.42 in fees and the rest as a down payment). I sprang for excessive wear so there are no surprises, which in hindsight I should have paid up front. Anyway, wife is pleased and so am I so huge thanks to everyone on LH.
Three negatives to this deal:
- There was a down payment technically
- They told me at first I could choose between red and black so I choose black but later they gave me the oldest one on the lot which was red; the concession for going so low.
- The longest part of the process was proving I was an active Uber driver. On one page I saw said you just needed to sigh into the app and show you could go online. On another it said login to your profile and show your name with an Active status. I did both and printed out a copy of my profile page and showed I could go online in the app, but they said I had to provide my Uber ID or theyād put a $1K hold on my credit card. We spent about an hour (and a half?) trying to figure out how to get this Uber ID number looking on Reddit, Uber driver forums etc. Eventually I said forget it, put this on pause and resume once I heard back from Uber support because I didnāt want to do this hold. Shortly after that they said theyād just go with the profile print out and left it like that.
Aside from staying on budget (mostly anyway) the other positive was establishing a relationship with the sales guy, who was genuinely friendly, upfront, forward and honest. If anyone in NoVA or the DMV wants details dm/pm me and Iāll share more.
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Those fees are high. Did you pay tax beyond inception upfront in that 2500 as well? So less fees and tax amount. Was there an actual down payment.
Yup, both dealerships I saw had very high fees and they were not interested in budging.
Because I came prepared to theā first dealership, they went straight to the numbers ready to close. I pushed back saying $2800 I was far above what I was willing to pay and kindly asked them to bring that number down. The guy insulted me saying heād drop it by $0.25 to make the monthly payment an even $125. I gently pushed back several times and the guy told me it wasnāt worth it in so many words so I left it at that.
The second dealership was initially not as forthcoming about what made up the $2500 and I backed away a bit because I wasnāt comfortable. Later they provided the printout with the hand writing showing $2122 in fees + $115 first payment which told me the ādownā was $263 bringing the total to $2500.
My sister, a recent graduate, is looking to lease a car so Iām all ears as to how I could have encouraged this to go better in order to help her find a decent price.
We are in the market for a new value edition as well and have offered the following in Cleveland area and are waiting to hear back.
Offer: 150/month 0 down for 10k/36 months
Edmunds gave a certificate for 500 down and 170/month, which I felt was too high.
We have tier 1 credit (700 plus). Am I to assume that the rv is 60 percent and the mf is 0.0017? We are new to the leasing game, so any help would be most appreciated.
Iām certainly far from being seasoned, but with the exception of one dealer, the Value RV was 60% (The other dealer quoted 59%) and the two dealers I worked with had the Tier 1 MF set to .00095.
Do you qualify for any incentives? If you donāt know, visit HyundaiUSA.com, build the car, click calculate payments and check rebates in your area. The only oddity was my zip showed a $3000 lease cash incentive but no dealers honored the printout I brought nor did they didnāt honor it when I was able to reproduce in-store on the computer.
My cousin just got a quote from the dealer for a hyunda elantra value edition without the tax it was 222 a month for 36 months and 0 down. I think they are marking up the money factor a ton here. I did the math and got to around mid 160 with tax based on nyclife information. Without tax it should come to around $153.However I am getting the specifics tomorrow and will report back. Again the information has to be vetted to find out of the calculator and other numbers are correct. She didnt have any other incentives other than the 3k lease cash and 500 sales cash. This was on 15K/36. Funny part is I got the MSRP and the net cap cost reduction price. There is no way the price should have been that high.
got a quote from a dealer near me for 9% off MSRP on a value edition lease.
he quoted 164/mo but if I add my additional rebates (uber,grad,boostup) onto that I can get it down to $113/mo
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Sounds like a good deal!
Iām jealous! 
Chr(20)
Do we know the June MF for the Value model? Assuming its still 60% RV.
Itās in a different hyundai northeast thread. Mobile version of this doesnāt link. Search those keywords
Email dealers in the area. Going in is honestly a waste of time imo