I am actually in OH, but PA is closest location in the list.
I am negotiating a lease on a Hyundai Palisade and the dealer is quoting a substantially lower residual value than the lookup returns. For a 36 month 10K lease, the lookup says a Limited AWD model should have RV of 64% and the dealer is quoting 60%. They are also offering a US Bank deal with a much better money factor at a 57% RV.
Also of note is that the advertised deal on the Hyundai website for the base model is using a 60% RV rather than the 65% returned by the lookup.
Can you explain the source of the lookup values and offer any tips on getting the dealer to use/accept those?
There have been some errors with the look up, so it’s always beat to verify.
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. The forums at Edmunds are where we go to get that information, as they have direct access to it from the captive banks. You’ll want to post in the model specific thread for the vehicle you’re interested in and request the most current numbers for your zip code. It is often easiest to find that thread by searching Google for “Edmunds lease” followed by the model of vehicle you’re interested in.
