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Well, it's been 44 months now and I can honestly report that the 2007 Santa Fe GLS AWD (Limited for the US customers) was a good choice for us. We have put only 60,000kms on it (37,000 miles) and it has been driven pretty easy. At 30,000 kms we had to replace the rear brake pads and at 50,000 the dealer replaced one of the steering links, but other than that... it's only been oil changes and filters. Oh ya, the original Bridgestone Dueler's wore out at 55,000kms (very disappointing). When we leased the car we thought we might go over in allowable mileage which is 20,000kms per year. At the end of 4 years we were allowed to have 80,000 kms without paying extra. But thinking that we might go over, we purchased an extra 16,000 kms up front at .10 cents each. ($1,600). That was our biggest mistake, because today at 21,000kms under what is allowed; we wasted the $1,600 as the dealer is not prepared to give any of it back. So we learn from our mistakes. We have already gone out and bought our next car. It's a 2008 Ford Taurus X SEL which a friend had on lease for 3 years. I hope the Ford is as good to us as the Hyundai Santa Fe was. C'est la vie
 

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My '10 came with those garbage Bridgestones, too. As soon as I can scrape some money together, I'm going to throw a set of Michelin Primacys on there. They're a bit steep but supposedly the best tire Michelin has ever made. Glad you enjoyed your Hyundai and best of luck with the Ford! :thumbsup:
 

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I think you should check alot further into that $1,600. I only leased once (different brand...the one with the broken wrench service), will never lease again, nor buy that brand again...ever...got stung pretty bad after it got totalled in a crash. Insurance pays out minimum possible value for the car (you as leasee have no say as you don't own it, the company does), then you get a huge bill for the difference in the value of the car as determined by the company, and what insurance paid.

But I purchased extra kms on that vehicle and I know I was told (realizing of course that what you are told in the sales process can be quite different than in the "actual reality" process) that unused kms from those EXTRA PURCHASED would be refunded.

This would make sense, so I'm curious why they would not refund them. Also, who did you pay for those extra KMs, the Dealer or to the lease company etc. I think you're being ripped off.
 

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I used to lease. On my 3rd, I picked the higher km option (Pontiac Grand Prix) as my previous lease got really close and I felt I'd be driving this one more. At the end, I was still under the lower km option. The owner of the dealership is a relative, so I feel they did everything they could for me, but there was no possibility of getting money back on the extra kms. (He had nothing to gain, as the lease was a GM lease and not a dealership lease).

Some companies do have a money back program on extra purchased kms, but I don't think many do.

On my last lease (Pontiac Torrent), I went back to the lower value and 4 months prior to the end of the lease, I already hit the max. Worked out the cost that I was going to incur at turn in versus terminating the lease and paying out the last 4 payments. I went with termination as the cost was a little better that way and the warranty ran out at that km value as well.

On the accident payout, my insurance company offered (and I took) a coverage on my policy that covers any difference between the outstanding lease amount plus residual and the market/book value if it did get written off. Luckily I never needed it. It was a small increase in premium for the coverage.
 

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My Hyundai lease, done through FinancialLinx, specifies 10 cents as the end-of-lease overage penalty. Seems expensive to pay this in advance, especially if it is not refundable. I would have expected 5-8 cents non-refundable.

Haith - Most "factory" leases come with gap insurance, so the lessee shouldn't be on the hook for negative equity in the event of a write-off. This is actually an advantage over purchasing. Not only does a purchase contract typically lack gap insurance, but the amount owing can be higher due to the taxes being financed up front.
 

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QUOTE (Don67 @ Dec 3 2010, 12:34 PM) index.php?act=findpost&pid=376663
Most "factory" leases come with gap insurance, so the lessee shouldn't be on the hook for negative equity in the event of a write-off. This is actually an advantage over purchasing. Not only does a purchase contract typically lack gap insurance, but the amount owing can be higher due to the taxes being financed up front.
+1 to that. I know that was the case with our leased 2008 Honda Odyssey minivan. In fact, I just bought the van outright last month. I couldn't touch a similar van for the $16K buyout. Well... that and the van needs ~$1500 in body work and 2 new tires.

Joel
 

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Haith - Most "factory" leases come with gap insurance, so the lessee shouldn't be on the hook for negative equity in the event of a write-off. This is actually an advantage over purchasing. Not only does a purchase contract typically lack gap insurance, but the amount owing can be higher due to the taxes being financed up front.
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Indeed it did have GAP insurance however fine print seems to come out of nowhere when you need it. I got a bill for $2,200 on a written off car, paid for by insurance. On top of that, they were NASTY to deal with. I have never been treated as rudely by any company I have have ever dealt with. That "company" can come up with whatever new vehicles they want, but I will NEVER step inside one of their show rooms again. They are X'ed. Then again they also had the most vehicles in the least reliable rating for 2010 that I saw recently.
That $2,200 cost them more in the long run than it will ever cost me....via lost future sales and negative word of mouth. It will also be a question I ask politicians when they knock on the door in future....if X'ed company runs into trouble again, would you support tax dollars going to bail the ****ers out. If so...you just lost my vote. Yes I'm still bitter.

On the bright side, it led me to the Santa Fe which I am totally pleased with.
 

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I'm a stickler for rotating tires every 7k and I was able to get 42,500 out of my bridgestones and they could have gone another 2k.

Good luck with the Taurus X! They were never big sellers but they are excellent vehicles and I really like them a lot. We had an Eddie Bauer model that sat on the lot for 2 and a half years before it sold.
 
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