![Illinois Auto Dealers Sue State Over Rivian’s Direct-Sales Model [UPDATED]](https://www.thetruthaboutcars.com/wp-content/uploads/2021/03/rivian-suv-610x407.jpg)
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]
Just buy it – the warranty is long enough.
That purple color looks like the Easter Bunny should hide one in the yard for me to find.
The Chevy Spark once came in that color too!
i.pinimg.com/originals/17/0f/33/170f33b00fabaa1a6b9acfe011c219d0.jpg
It makes me think of sidewalk chalk.
The VW warranty is 6 yrs / 72k miles, B2B. The GTI is a FAR better deal.
Agreed but I’m also not sure. Mainly the interior quality of the GTI would sell me on it.
Eh I’d still rather have the 10 yr/100,000 mile powertrain warranty as the original owner of the Hyundai.
I think it depends on the ownership period. If I am running it into the ground Hyundai, if I plan to trade in 5 years the VW.
Today, power trains are pretty reliable, but infotainment not so much. I’d rather take the better bumper to bumper warranty.
It would need to be 15/150 and B2B for me to even REMOTELY consider a VW (or any German car).
Fool me once, and all that….
I’m struggling to see how there are many Hyundai fanboys willing to spring for this car. The dealers are going to hate the car – it will bring in every toolbag tire kicker with no credit.
The big fail on the new Veloster is the elimination of the glass hatchback. The old car had a huge glass hatch, so if you sprung for the sunroof you essentially got an all glass roof. Now you can’t.
There will probably be cash on the hood for the N,not so much for G70 Sport 6mt, as dealers won’t actually stock it- on top of that, there currently are no Genesis dealers in KC , according to the website
“The dealers are going to hate the car – it will bring in every toolbag tire kicker with no credit.”
Bring in? Are you kidding? They’re already on the lot.
BHPH–Buy Hyundai Pay Here.
Well, Hyundai has no problem in moving the i30N (in fact, has trouble keeping up w/ demand).
But then again, the i30 N is actually kinda handsome and has more utility than the awkward Veloster N.
I got a lease quote in the $800s for a Civic Type-R so I guess this is a bargain by comparison. I continue to be flat-out amazed that undesirable hatchbacks with undesirable manuals that just don’t sell could lease for this much.
Anyway, I agree that the rates will come down. It’s brand new so the look-at-me-I’m-first crowd will overpay and then the car will settle in in terms of being able to purchase for under MSRP, plus good lease deals.
I need to look at my documents again, the Regal GS I took over the lease of is less than $340/mo. I forget how much the original guy put down, but I think I’d much rather have my Regal than the Veloster if payments were equal.
I leased my 2015 Accord Sport for 235 a month through Honda Finance with pretty much nothing down. I imagine I could get a 2019 Accord 2.0t in the low three hundreds, if not better. That’s why I’m so stunned at how much the leases are on these performance cars. It’s really hard to justify 400+ when you can get some very good vehicles for a lot less.
Patience pays
Still looks like a stinkbug .
I will consider buying one of these next time I am looking for a car. Not a fan of leasing for my own circumstances. Hyundai reliability has been good and this uses many common parts from their line in an uncommonly sporting way. If it’s fun to drive, I may part with my Fiesta ST before the wheels fall off, as this looks like a nicer long-term ownership proposition in some respects and is much more recently redesigned as a platform (2009 vs 2017ish). Unfortunate that the lease deals haven’t come out well for Hyundai, as this niche (which I love) needs all the help it can get.
Get a Golf.