You can LEASE this car!

Based on the purchase price of $7960, this 2017 Hyundai Sonata can be leased as follows:

Leasing is done on a DAILY basis

• $300.00 plus Sales Tax – Initial Equity Payment at start of Lease
• $11.84 plus Sales Tax – Daily Lease Rate
• $0.129 plus Sales Tax – Per Mile Fee for mileage exceeding 50 miles per day.

• You must register this vehicle with the DMV and get License Plates on the vehicle.
• You must insure this vehicle with full/comprehensive coverage with the agent/provider of your choice and provide proof of this insurance.
• You are responsible for maintaining this vehicle – Oil Changes and such.

A LEASE is a great option.  It can be converted to a purchase at any time and  a portion ( $6.45 ) of each daily lease payment will go towards equity thus lowering your “option to purchase” price!  Or, the lease can be terminated by returning the car and ending the lease agreement at any time.  It is day by day – no obligation to continue the lease for a certain number of weeks or months or years.

CHOOSE YOUR PAYMENT

Does that sound too good to be true?  If you are thinking that you can have a lease payment of $1/day on a vehicle worth $20,000 without making any PRE-PAYMENTS (DEPOSIT), then YES, it IS TOO GOOD TO BE TRUE 🙂

However by paying some money UP FRONT (pre-payment / DEPOSIT) it will accomplish the following:

• The Daily Lease Rate (the cost to use the vehicle for one day) will drop.
• That DEPOSIT can be used to fulfill the upcoming Daily Lease Payments – thus you can go several days/weeks (depending on amount of the DEPOSIT) with NO PAYMENT REQUIRED.  —  But, rest assured, if you decide to return the vehicle and terminate the lease, any unused portion of that DEPOSIT will be refunded to you.

Experiment with the below calculator.   Notice that a larger PRE-PAYMENT / DEPOSIT, will result in a lower Daily Lease Rate AND will increase the number of payments you can SKIP!

EQUITY

With each daily payment, the price for purchasing the vehicle drops by $6.45.