Automotive

$300/Month Lease - Corolla vs. Forte vs. Elantra

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  • Jun 29th, 2016 4:22 pm
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Poll: Which vehicle?

  • Total votes: 69. You have voted on this poll.
17' Hyundai Elantra LE Auto - $267.36
 
42
61%
16' Kia Forte LX AT - $296.75
 
4
6%
16' Toyota Corolla LE CVT - $307.13
 
23
33%
Deal Fanatic
Jun 26, 2007
5977 posts
1468 upvotes
???

$300/Month Lease - Corolla vs. Forte vs. Elantra

Helping a friend find a vehicle for the following criteria.

$300/month lease with 36 month / 20,000 km allowance.

Automatic transmission and A/C is a must, all other options are optional.

Prices listed below have all taxes, fees and delivery charges added into it.

Prices obtained from manufacture's build & price.

No negotiations or non-standard offers included.

All vehicles are similarly optioned.

Cheapest > Highest

1. 17' Hyundai Elantra LE Auto - $267.36
2. 16' Kia Forte LX AT - $296.75
3. 16' Toyota Corolla LE CVT - $307.13

Which one would you rather own and drive?
42 replies
Deal Addict
Apr 15, 2004
1603 posts
149 upvotes
Toronto
i personally do not like the new corolla.
outside looks so so but the inside looks very bad.

in addition, even though u said ac and autp is must.. u have to look at other options such as
- i am sure corolla doesn't give u Bluetooth, led signals, usb plug, mp3 playback
- hyundia seems to have more accessories included???

but on the same note, i know some people who dont even look at this objectively and blindly go with corolla/civic
Deal Expert
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Jul 30, 2007
33234 posts
21163 upvotes
Toronto
for lease, go for the cheapest. After all, you don't own the car.
Deal Addict
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Dec 31, 2011
2715 posts
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Yellowknife
vaportech wrote: Helping a friend find a vehicle for the following criteria.

$300/month lease with 36 month / 20,000 km allowance.

Automatic transmission and A/C is a must, all other options are optional.

Prices listed below have all taxes, fees and delivery charges added into it.

Prices obtained from manufacture's build & price.

No negotiations or non-standard offers included.

All vehicles are similarly optioned.

Cheapest > Highest

1. 17' Hyundai Elantra LE Auto - $267.36
2. 16' Kia Forte LX AT - $296.75
3. 16' Toyota Corolla LE CVT - $307.13

Which one would you rather own and drive?
This one is easy. Don't do the fleece. Hyundai and Kia are the same company. Kia just got a great rating. Buy the Kia with the 0% interest rate. Monthly payment ~$290. Pay extra on the loan when possible.
Done.
Deal Guru
User avatar
Sep 8, 2007
10977 posts
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Way Out of GTA
Elantra saves $1400 over 3 yrs in lease payments right off the bat. Pretty much deal done.
Sr. Member
Dec 16, 2014
932 posts
519 upvotes
Easter Island
Actually only toyota offers 0% interest lease at the moment. That corolla is too expensive, negotiate down to $245, it's possible.

With the elantra, at least look at the GL trim, it has good tech features.
Sr. Member
Dec 16, 2014
932 posts
519 upvotes
Easter Island
thesk8man wrote: i personally do not like the new corolla.
outside looks so so but the inside looks very bad.

in addition, even though u said ac and autp is must.. u have to look at other options such as
- i am sure corolla doesn't give u Bluetooth, led signals, usb plug, mp3 playback
- hyundia seems to have more accessories included???

but on the same note, i know some people who dont even look at this objectively and blindly go with corolla/civic
Wtf, almost all these cars have standard Bluetooth, usb & back up cam. Corolla is only car with standard led headlights.

In terms of tech features, elantra gl is best bang for buck.
Banned
User avatar
Jul 17, 2008
11042 posts
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vaportech wrote: Helping a friend find a vehicle for the following criteria.

$300/month lease with 36 month / 20,000 km allowance.

Automatic transmission and A/C is a must, all other options are optional.

Prices listed below have all taxes, fees and delivery charges added into it.

Prices obtained from manufacture's build & price.

No negotiations or non-standard offers included.

All vehicles are similarly optioned.

Cheapest > Highest

1. 17' Hyundai Elantra LE Auto - $267.36
2. 16' Kia Forte LX AT - $296.75
3. 16' Toyota Corolla LE CVT - $307.13

Which one would you rather own and drive?
I pay 293.70$/mth for financing 5 years for a LX+ Forte. AKA I OWN the car after the 5 years, with no allowance or lease agrements to worry about.
What I'm trying to say is that he should shop/wait for a better offer.
Banned
Dec 5, 2015
2038 posts
429 upvotes
Concord, ON
thesk8man wrote: i personally do not like the new corolla.
outside looks so so but the inside looks very bad.

in addition, even though u said ac and autp is must.. u have to look at other options such as
- i am sure corolla doesn't give u Bluetooth, led signals, usb plug, mp3 playback
- hyundia seems to have more accessories included???

but on the same note, i know some people who dont even look at this objectively and blindly go with corolla/civic
Corolla has all those items listed standard and the LED headlights on the corolla is not available in any of the other cars though
Deal Fanatic
User avatar
Nov 2, 2013
5697 posts
1522 upvotes
Edmonton, AB
Why would you lease a Corolla? Just finance it with the current low rates (some manufacturers charge a little higher rate for lease too). Toyota's hold their value very well and you'd have no problem getting high resale.
Accountant (Public Practice)
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Nov 16, 2012
1837 posts
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EAST YORK
booblehead wrote: for lease, go for the cheapest. After all, you don't own the car.
You pay for deprecation regardless of what you have or whether you leased or financed.
Get what you like the best, after all you're paying for it. Personally I wouldn't get either of those cars, I would get a civic.
Banned
Nov 16, 2012
1837 posts
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EAST YORK
FirstGear wrote: Why would you lease a Corolla? Just finance it with the current low rates (some manufacturers charge a little higher rate for lease too). Toyota's hold their value very well and you'd have no problem getting high resale.
Because the guy only wants it for 3 years.

To purchase the specific trim corolla it would cost $24k on the road.
To lease it would cost him $11,000 total for 3 years.

So, do you honestly think that he is going to get back over $13,000 on that car in 3 years time? That is the only way outright purchasing it would make sense. I can tell you for absolute sure that he wouldn't in my market.


Now I know some of you will use the argument "but he could drive it until the wheels fall off = profit!!!". But clearly he wants a new car every 3 years, and with that being the criteria leasing is the best way to go!
Banned
Nov 16, 2012
1837 posts
390 upvotes
EAST YORK
Messerschmitt wrote: I pay 293.70$/mth for financing 5 years for a LX+ Forte. AKA I OWN the car after the 5 years, with no allowance or lease agrements to worry about.
What I'm trying to say is that he should shop/wait for a better offer.
What you OWN after 5 years is a car worth not more than $3000 and it cost you $17,600 to get it. All the while having to endure driving a POS. That's not a single bit appealing to me, at all!
Deal Fanatic
Jun 26, 2007
5977 posts
1468 upvotes
???
Don't want to finance, turns into asset, just want it as an expense/liability.
Deal Fanatic
Jul 26, 2007
7579 posts
5272 upvotes
Toronto
Yup, all sounds meh so get the cheapest. Do consider calling the insurance too as corolla might be most expensive to insure.
Banned
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Jul 17, 2008
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theillest wrote: What you OWN after 5 years is a car worth not more than $3000 and it cost you $17,600 to get it. All the while having to endure driving a POS. That's not a single bit appealing to me, at all!
To each of his own. I love the car. Super cheap, paying low monthly at no interest, and tons of features. And for sure I don't plan to sell the car. I take pride in owning a car as much as possible. That's me. Other's like to change their cars like shirts every 2-3 years, and they surely pay through their noses for that with their leases. And some must have that B Class merc that costs 250$ for an oil change and for reliability that will not last more than several years.

Oh, and I can assure you after 5 years, it will still value at 8-10k. Especially with my low mileage I do every year, which is moot since I like keeping cars. Something about me getting emotionally attached of objects (still going strong with my nexus 4 or my gaming pc I bought both 3 years ago haha)
Deal Addict
Jan 6, 2015
2860 posts
784 upvotes
Toronto, ON
theillest wrote: What you OWN after 5 years is a car worth not more than $3000 and it cost you $17,600 to get it. All the while having to endure driving a POS. That's not a single bit appealing to me, at all!
The Kia Forte is a great fun car to drive. Rented one for a week while my car was in the shop and it was actually fun.
Sr. Member
Dec 16, 2014
932 posts
519 upvotes
Easter Island
vaportech wrote: Don't want to finance, turns into asset, just want it as an expense/liability.
Claiming as business expense?
Deal Addict
Jan 8, 2007
3446 posts
2198 upvotes
cartfan123 wrote: Elantra saves $1400 over 3 yrs in lease payments right off the bat. Pretty much deal done.
But would a Corolla get him $1,400 more after 3 years if he were to buy out the lease and sell it right after?
Messerschmitt wrote: I pay 293.70$/mth for financing 5 years for a LX+ Forte. AKA I OWN the car after the 5 years, with no allowance or lease agrements to worry about.
What I'm trying to say is that he should shop/wait for a better offer.
You're not comparing apples to apples here. Total cost of ownership between your finance scenario and his lease would probably be about the same if we look at the same length of term. Since you like to keep your cars for a long time we can't do a direct comparison.

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