I’m looking for a Hyundai Elantra GT Sport lease. Unfortunately, only one dealership within 50 miles has the car that I’m looking for (Sport Trim, Manual Transmission). Here’s what they offered me:
MSRP: $24,495.00
Dealer Discount and Rebate: $5,714.00 (Uber, Current lease cash, etc)
Sales Price: $18,781.00
Down payment: $0.00
Miles: 15K
Term: 36 months
MF: .00022 (according to edmunds.com forum)
Residual Value: 50% (according to edmunds.com forum)
Monthly Payment: 358.36
I was not happy when I saw the monthly payment. They did say that the payments included the dealership’s “value package” costing $1597.00. When I did the math, there’s around $6,000.00 - 6,500.00 that’s unaccounted for. I am trying to use the 1% rule for my first lease, but I don’t see how it could be done.
I tried to settle on the Elantra Sport 4 door. But even then the monthly payment seems outrageous compared to everything I’ve seen on the forums.
I would like some assistance for this lease. I’ve always bought my cars, but with the lifestyle I’m living, I would like to lease a vehicle plus the Veloster N is coming out soon.