Gotta get sales started right.
The completely redesigned 2020 Hyundai Sonata has just begun arriving in dealerships and already the South Korean automaker is offering a discount. However, there's a slight catch: it's for leasing only. First noticed by Cars Direct, a dealership incentive bulletin has just gone out offering a $2,500 incentive for leasing a new Sonata SE. This trim level is not the only one to receive a price cut, as the SEL receives a $2,000 reduction while the range-topping Limited sees its price slashed by $1,750.
Prefer to buy a new Sonata? Obviously you could but Hyundai is currently only offering a $500 loyalty discount for current Hyundai owners. Furthermore, the best financing rate is 1.9 percent APR for 60 months. Clearly, Hyundai is pushing leasing instead of buying, though this could change from month to month.
To put this into some perspective the 2020 Sonata's excellent lease offers, the 2019 Honda Accord, redesigned for last year, is being offered with only $750 in lease cash. Depending on where you live in the US, these 2020 Sonata lease deals might somewhat vary, but in some cities, such as Los Angeles, you can lease a Sonata SE for $219 a month for 36 months with $2,699 due at signing, based on MSRP of $24,330. This also translates to an effective cost of $294 a month, beating out lease prices of the 2020 Accord LX at $318 a month and the 2020 Toyota Camry LE at $325 a month.
Here's where this Hyundai Sonata offers gets even more interesting: it's cheaper than leasing an also new Hyundai Venue subcompact crossover.
Although the Venue's retail price is several thousand dollars less than the new Sonata's, the Venue's lease offers are far less attractive. For example, the Venue SE is currently listed at $259 a month for 36 months with $2,399 due at signing, an effective cost of $326 a month. There does not appear to be a specific end date to this current lease offer, but it is clear Hyundai wants to hit the ground running with the new 2020 Sonata.