Hi Hackrs
Looking for advice on the deal. I have signed today but taking delivery of the car tomorrow. My first big car purchase so having buyer’s remorse. Plz let me know if this is a good lease
deal.
Doesn’t look bad at all. Congratulations. Please pm the dealer if you don’t mind.
Have you checked the offerings in the marketplace? Even after any broker’s fees, the DAS is about half of what you’re putting up front.
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I reached out to one who is giving a better offer. Is it ok to not pickup the car after signing the lease… Does it have any issue? and will the dealer return the money that I put down ($4500)
You can say anything reasonable to cancel this transaction even this that You got better offer somwhere else.
Once you signed, I see no reason for them to agree to back out. Even more so, that they alredy have the money.
Also, your deal is pretty solid if it’s without the extra $2,500 loyalty rebate (not sure if it’s an option in CA).
Not sure which bank is funding it and what your tax rate is. But with HMF and a $5k dealer discount (which seems to be the most dealers are discounting and not very easy to get) you should be at an effective of around $470 beofre Taxes registration and dealer fees. So your numbers seem pretty solid.
How much cheaper were you quoted through a broker?
the broker is quoting $2900 down + 600 his fees for $345 per month. Over all about 1000 difference.
Yes this is without $2500 loyalty bonus/rebate
This is funded by US Bank
Somethings I am realizing a bit late:
- should have gone with 12K miles.
- the residual is 40K so in effect i pay about 13K and still have to buy the car at 40K. So will have to return the car at the end of the lease.
- I did not ask if i can buy after 2 or 3 months and how much it would be then.
I can see the appeal of going after the additional 1K. however, your deal as it stands is pretty solid.
You would save around $1500 with Socal Hyundai + Kia Lease and Purchase Deals (August). VERY low EV Leases ⚡ - #309 by Jeff_BeachCitiesAuto
I would love to but 2 issues: 1) I have signed a lease and is there an issue if i dont pickup the vehicle 2) Jeff is in SoCal
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Jeff’s deal is $1,500 cheaper before taxes, so if your deal includes tax you aren’t too far off
Mine is including taxes.
Do you think i can negotiate to 12k miles now… Dealer is asking $20-$25 extra per month
Or has anyone purchased the car after making 3 or 4 lease payments?
You can always tell them that you want to cancel the contract because you found a better deal, and see if they’ll match or at least give you a better discount. In California, you can back out any time before delivery, and they have to give you your deposit back unless that deposit was used to modify the car in some way.
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I’d stay away from that
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its crazy… if I buy the lease then its $400 more than residual value, if i dont buy then i pay penalty of $400
RUN AWAY while you still can. Go to the broker using HMF.
It seems all dealers are using US Bank now for Hyundai. Their MF is higher and so is RV. What a dealer told, and I don’t know if its true, USB is double dipping. Hyundai is passing the lease credit as a credit, but if you go wiht USB, they also claim the 7500 from the fed, allowing them to do a better program
OP, which dealer is this? I got slightly better quotes from Dublin, San Leandro and Fremont last week , but just slightly
It is not that bad.
At least ask OP if he intends to keep the car till lease end.
But HMF has One Pay on Ioniq 5 and 6. It’s a better deal on the 6 but one pay is still great value on the 5. Obviously this is if OP wants a lease.