Fresh Off the Boat, Hyundai's Veloster N Makes for a Dicey Lease Deal

Hyundai’s hottest hatch isn’t breeding any smoking lease deals. The pinnacle of the revamped, second-generation Veloster three(?)-door definitely puts the power down, providing a Korean entry in a class dominated by Germany, Japan, and, until recently, America (via Germany), but the first lease seen for the Veloster N might leave potential owners shopping elsewhere.

There’s cheaper alternatives for those wanting 250-plus horsepower in a small package.

The financial sleuths at CarsDirect came across an early, unadvertised lease for the model that’s just now arriving at dealers. To get into a lease of the 250 hp, 260 lb-ft Veloster N, shoppers would be on the hook for 36 $429 monthly payments, with $2,299 due at signing. That’s on a $27,785 base N with six-speed manual.

Hyundai offers a Performance Package that ups the turbo 2.0-liter’s output to 275 hp, with the same amount of torque. That’s a $2,100 climb from the stock N.

CarsDirect was quick to point out alternatives that could prove more appealing to those turned off by a car with an effective cost of $493 a month. They include, based on existing L.A. leases: the 2019 Subaru WRX manual, with an effective cost of $390 a month, and the 2019 Volkswagen GTI S, which, when outfitted with a DSG transmission, rounds out at $408 a month. The interesting, rear-drive Genesis G70 2.0T, also a newcomer, can be had for $462 a month, all in, while the Kia Stinger with the same engine (when did Korea become so interesting?) is yours for $422 a month.

The pricey Veloster N lease is the product of several factors, among them, a money factor that equates to a 5.4 percent interest rate, a 52-percent residual value that’s lower than that of the lesser Veloster Turbo and base model, plus the fact that there’s not a cent of cash on the hood of any N.

As the latter element will surely not last, expect better lease deals on Hyundai’s pavement scorcher in the months ahead.

[Images: Hyundai]