Over Paying?

[YuriyN]

Hello all,
I'm new at this forum and just wanted to get some feed back on how much you guys are paying for your Sonata if its a lease? If its not a secret!

I am leasing a 2012 Sonata SE, just wanted to get some prices others are paying and see if I'm getting ripped of or not.

Thanks!

[Mikemu]

Originally Posted by YuriyN

Hello all,
I'm new at this forum and just wanted to get some feed back on how much you guys are paying for your Sonata if its a lease? If its not a secret!

I am leasing a 2012 Sonata SE, just wanted to get some prices others are paying and see if I'm getting ripped of or not.

Thanks!

Lease is a function of purchase price, down payment and residual value so this is hard to compare to others since they may have put down more than you choose to. Best to compare purchase price and then make sure your lease deal incorporates the right "starting point".

[YuriyN]

Well I put down 0. Only payed my first month and drove off lol. Probably a bad idea for me to do

[veilside1]

Originally Posted by YuriyN

Well I put down 0. Only payed my first month and drove off lol. Probably a bad idea for me to do

Nope it just means you will be paying more every month. You either pay more up front via down payment, or spread it out over the term, either way it evens out. The important factors are the money factor and the actual negotiated vehicle price.

[YuriyN]

Ok, true.

Do you guys think having the tire and rim protection plan is worth pay for? And also the scratch protection plan? Since its a lease? I have the car for a little over a year and my tires blew out 2 times in a year? I guess its worth it then, but other then that, what do you think?

[Dave-S]

What is your lease rate? What is the purchase price and residual value at the end of the lease? What is the lease period........24 mos, 36 mos, etc? How many miles per year does the lease provide? What is your monthly lease payment? With that information I could offer you an opinion on the "rip off" question.

But also keep in mind that where most folks get burned is when they turn the car back in at the end of the lease period. If you exceed the allowable lease miles, then you will have to pay for those miles. If your car's condition is not pristine, they are likely to charge you for that as well (dings, interior wear, etc).

As far as I am concerned you are always in "buyer beware" territory with a lease.

[Mikemu]

Originally Posted by YuriyN

Ok, true.

Do you guys think having the tire and rim protection plan is worth pay for? And also the scratch protection plan? Since its a lease? I have the car for a little over a year and my tires blew out 2 times in a year? I guess its worth it then, but other then that, what do you think?

I would never ever buy a tire or rim protection plan. Huge profit center for the dealers and statistically unlikely to pay off.

[YuriyN]

Originally Posted by Mikemu

I would never ever buy a tire or rim protection plan. Huge profit center for the dealers and statistically unlikely to pay off.

So what your saying is to take off the tire / rim protection?

But see on a Sonata SE a new rim from what the dealer says cost around $1,000 ... and for a new tire its what around $80 - 100 bucks if not more ...? And living in NYC with so much pot holes and other crap it will cost alot of money I think? But I just wanted to see what others think about it.

[YuriyN]

Originally Posted by Dave-S

What is your lease rate? What is the purchase price and residual value at the end of the lease? What is the lease period........24 mos, 36 mos, etc? How many miles per year does the lease provide? What is your monthly lease payment? With that information I could offer you an opinion on the "rip off" question.

But also keep in mind that where most folks get burned is when they turn the car back in at the end of the lease period. If you exceed the allowable lease miles, then you will have to pay for those miles. If your car's condition is not pristine, they are likely to charge you for that as well (dings, interior wear, etc).

As far as I am concerned you are always in "buyer beware" territory with a lease.

Not 100% sure what the lease rate is. The MSRP was around $30,00 I believe. At the end of the lease most likely the residual value would be around $11000. The lease is 48 months long . And 12,000 miles per year. And my monthly payments equal too $400. But I also have tire and rim protection plan and the dents, dings, scratches protection plan on there too. Not 100% on those numbers though, and sorry for the double post.

[Mikemu]

Originally Posted by YuriyN

So what your saying is to take off the tire / rim protection?

But see on a Sonata SE a new rim from what the dealer says cost around $1,000 ... and for a new tire its what around $80 - 100 bucks if not more ...? And living in NYC with so much pot holes and other crap it will cost alot of money I think? But I just wanted to see what others think about it.

You have make your own decision. I'm just saying what my decision is with those things.