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Discussion Starter · #1 · (Edited)
Hey Everyone,

So it seems every dealer I go to says the same thing, that the Palisade is high in demand and they are selling over MSRP and there are no incentives or rebates from Hyundai because they're selling no problem. I had one dealer offer me a base SEL trim AWD w/ sunroof for $39,000. I was able to negotiate it down to $37,434 with taxes and fees included. I just want some opinions if this is a good deal or I am being ripped off. I would be putting 5k down on a 36mo lease 10k miles/yr at a 0.00211 interest rate and my monthly payments would be $475.00 with a residual of $23,560. Not sure if it matters or not but this is NJ.

Thanks in advance guys!
 

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Hey Everyone,

So it seems every dealer I go to says the same thing, that the Palisade is high in demand and they are selling over MSRP and there are no incentives or rebates from Hyundai because they're selling no problem. I had one dealer offer me a base SEL trim AWD w/ sunroof for $39,000. I was able to negotiate it down to $37,434 with taxes and fees included. I just want some opinions if this is a good deal or I am being ripped off. I would be putting 5k down on a 36mo lease 10k miles/yr at a 0.00211 interest rate and my monthly payments would be $475.00 with a residual of $23,560. Not sure if it matters or not but this is NJ.

Thanks in advance guys!
Time to find a new dealer. Plenty are selling for under MSRP. Also, if you're leasing, and the dealer is telling you no incentives, they're lying. AWD SEL currently has $500 in lease cash on a 36 month term.

If you're interested in leasing, the first thing you need to do is verify money factor (leases don't use interest rate, they use money factor), residual, and incentives with the edmunds lease forum for your zip code. There's a good chance the dealer is also marking up the mf.

Then, don't put $5k down. Money down on a lease is high risk. If the car is totaled early in the lease, you're out all the money you put up front.
 

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Discussion Starter · #3 ·
Thank you for this informative reply, much appreciated! What should be the MSRP I am looking for on a SEL with no packages and sunroof? Also, do you have a site with valid information that shows the AWD SEL has the $500 lease cash? I would like to use this for ammo at the dealership. This behavior seems to be common at least at all the dealerships I've visited thus far (around 3 or so). Are we allowed to post windows stickers? I could share that as well as I took it home from the dealer. Thanks again!
 

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The window sticker will tell you what the msrp is. By all means, post it.

Autobytel shows current lease incentives, but you should also confirm it by posting here to ask for money factor, residual value, and incentive information for the trim you want in your zip code: 2020 Hyundai Palisade Lease Deals and Prices

There's no need to try to convince the dealer that those incentives exist. They know they do. If they're telling you that they're charging over MSRP AND they're witholding the incentives AND they're marking up the MF, just leave. You will get nowhere with them.

Also, there's no need to negotiate in person. Far better to do this over email.
 

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Discussion Starter · #5 ·
nvince the dealer that those incentiv
The window sticker will tell you what the msrp is. By all means, post it.

Autobytel shows current lease incentives, but you should also confirm it by posting here to ask for money factor, residual value, and incentive information for the trim you want in your zip code: 2020 Hyundai Palisade Lease Deals and Prices

There's no need to try to convince the dealer that those incentives exist. They know they do. If they're telling you that they're charging over MSRP AND they're witholding the incentives AND they're marking up the MF, just leave. You will get nowhere with them.

Also, there's no need to negotiate in person. Far better to do this over email.
Attached is the window sticker. I would be getting the vehicle in white, with the sunroof, and no package, just base SEL. Price was negotiated down to $37,434 with taxes, fees included. The money factor is 0.00211.

Thanks.
 

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MSRP on a white SEL AWD with just the sunroof is $36045.

If you're leasing, taxes in NJ are calculated upfront on the total lease payment, but spread in monthly, so the $37434 number is pretty meaningless. Give me a minute and I'll back calculate what they're charging from the lease terms they quoted.


I assume they quoted you with Feb numbers as I don't think March numbers have dropped yet, which for an SEL AWD on a 36/10 look to be .00171 MF, 62% RV, $500 incentives.
 

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Alright, based on feb lease numbers with a marked up MF, an assumption of $400 dealer doc fee and $400 in misc NJ state fees, $475/ mo with $5000 due at sale is right on for a $37434 selling price on an MSRP of $36045. Basically them charging about $1400 over MSRP. The marked up MF accounts for an addition $880 in profit they're backending, so they're essentially charging you $2270 over MSRP value.
 

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Discussion Starter · #8 ·
Alright, based on feb lease numbers with a marked up MF, an assumption of $400 dealer doc fee and $400 in misc NJ state fees, $475/ mo with $5000 due at sale is right on for a $37434 selling price on an MSRP of $36045. Basically them charging about $1400 over MSRP. The marked up MF accounts for an addition $880 in profit they're backending, so they're essentially charging you $2270 over MSRP value.
Very good info! So with that said I would assume I should not pull the trigger on this deal? With what you said about 5k down on a lease and I'd be SOL if the car was totaled scares me a bit.

Thanks so much for this valuable info!
 

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Very good info! So with that said I would assume I should not pull the trigger on this deal? With what you said about 5k down on a lease and I'd be SOL if the car was totaled scares me a bit.

Thanks so much for this valuable info!
No, this is a horrible deal. Definitely don't pull the trigger on it. There's no reason to be paying over MSRP on palisade, much less an SEL.
 

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Discussion Starter · #10 ·
O
No, this is a horrible deal. Definitely don't pull the trigger on it. There's no reason to be paying over MSRP on palisade, much less an SEL.
Ok, I will hold off. I haven't bought a car in 11 years so I forgot all this info. Would a good tactic to use when I go into the dealership be just to say based on the SEL I want with sunroof I know the MSRP is $36,045 and I will start there and see if we can negotiate a good deal?
 

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Step 1 is to not go into the dealership. Going into the dealership is for test driving and taking delivery of the deal you negotiated. If you do your negotiations in person, you're starting for a huge disadvantage.


If you want to lease, before you do anything, you'll want to verify rv/mf/incentives from edmunds. It's the first business day of a new month so the numbers are changing today. May take a day or two for the updated numbers to publish.

Then, I'd identify every palisade within as far as you're willing to travel that meets your needs (when I was shopping, it was every one within a 200 mile radius). You can start reaching out to those dealers to find out their pre-incentive sales price. Cargurus.com is a great resource for identifying all of those vehicles. When you find a dealer willing to come off msrp on a pre-incentive sales price, you'll know who you want to target.

Personally, I like to then draft an offer to them of what I'm willing to pay that breaks out the deal in excruciating detail; down to every last penny and fee. This will identify the specific vehicle you're looking at by stock number, what the msrp is, what the pre-incentive sales price you want, what the incentives are, what the money factor is, what the residual is, what the lease terms are, etc. I'll conclude that offer with something like "if you're willing to accept these terms, I can be there to sign paperwork in x number of hours." And then if they say yes, show up when you said you would. Bring print outs of your offer and their acceptance of your offer. If they try to play games, walk out.


Best way to get a good deal is to be overly educated on every aspect of the deal. Knowledge is key. Here's a great place to start: https://leasehackr.com/blog/2016/4/17/how-to-calculate-lease-payments-by-hand

If you have questions, shoot me a PM. I'm happy to help.
 

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Discussion Starter · #12 ·
Step 1 is to not go into the dealership. Going into the dealership is for test driving and taking delivery of the deal you negotiated. If you do your negotiations in person, you're starting for a huge disadvantage.


If you want to lease, before you do anything, you'll want to verify rv/mf/incentives from edmunds. It's the first business day of a new month so the numbers are changing today. May take a day or two for the updated numbers to publish.

Then, I'd identify every palisade within as far as you're willing to travel that meets your needs (when I was shopping, it was every one within a 200 mile radius). You can start reaching out to those dealers to find out their pre-incentive sales price. Cargurus.com is a great resource for identifying all of those vehicles. When you find a dealer willing to come off msrp on a pre-incentive sales price, you'll know who you want to target.

Personally, I like to then draft an offer to them of what I'm willing to pay that breaks out the deal in excruciating detail; down to every last penny and fee. This will identify the specific vehicle you're looking at by stock number, what the msrp is, what the pre-incentive sales price you want, what the incentives are, what the money factor is, what the residual is, what the lease terms are, etc. I'll conclude that offer with something like "if you're willing to accept these terms, I can be there to sign paperwork in x number of hours." And then if they say yes, show up when you said you would. Bring print outs of your offer and their acceptance of your offer. If they try to play games, walk out.


Best way to get a good deal is to be overly educated on every aspect of the deal. Knowledge is key. Here's a great place to start: https://leasehackr.com/blog/2016/4/17/how-to-calculate-lease-payments-by-hand

If you have questions, shoot me a PM. I'm happy to help.
Fantastic information, I appreciate this so much! I have emailed several dealerships around me asking what their selling price is for a white SEL with sunroof and no packages. If the sell price is within my expected range I told them we can discuss further.
 
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