If you’re in the market for a mid-size sedan and want the best value for your money, then the 2021 Hyundai Sonata is a great choice. Competitors like the Honda Accord and Toyota Camry provide a great value as well, however, Hyundai has always done a great job packing the most amount of stuff into their cars while pricing them lower than their rivals. Considering the type of value that you can get from a 2021 Sonata, now is a great time to buy or lease one.
The 2021 Hyundai Sonata is available in five different trim levels
The 2021 Hyundai Sonata is currently available in five different trim levels (SE, SEL, SEL Plus, N Line, and Limited), so picking the right one for you could be a little confusing. However, it’s not that daunting when you break down what each trim comes with. The base trim comes with a 191-hp, 2.5-liter engine, an eight-inch touchscreen infotainment system, 16-inch wheels, and a host of driver-assist features.
Moving up to the SEL trim will add notable features like blind-spot indicators, a rear cross-traffic alert, Hyundai’s Blue Link car system, and heated front seats. If you need more forward thrust, then you can opt for the SEL Plus trim that adds a 180-hp, turbocharged 1.6-liter engine in addition to a larger 12.3-inch fully digital gauge cluster and 19-inch wheels.
The top-tier Limited trim adds to that equation by including remote start, blind-spot view monitors in the instrument panel, a surround-view monitor, and remote parking assist. But if you’re looking for a little more fun behind the wheel, then opt for the N Line trim, which adds a 290-hp, turbocharged 2.5-liter engine, an eight-speed dual-clutch transmission, and leather and suede front seats to complete the sporty look.
Buying or leasing a Hyundai Sonata SEL right now is a good idea
Now that we’re familiar with all of the Sonata’s specs and trim levels, we can take a deeper dive into the possible savings that you can currently take advantage of. Ari Janessian, a YouTuber and the head of Boston Automotive Consulting, illustrates why now is a great time to buy or lease a 2021 Hyundai Sonata SEL due to the type of savings that is currently available for it as well as the sheer number of units that currently on dealership lots.
Janessian reports that there are currently 21,260 2021 Sonatas at dealers now and among those, 5,710 of them are SEL trims. This means that you could get a better deal on that specific trim as there are plenty of them for dealers to sell.
According to Janessian’s math, the MSRP for the SEL trim is $27,585 and you should be able to get a discount of around 5%, which will bring the target selling price to $26,270. With that in mind, if you’re planning to finance the car, then Hyundai is currently giving buyers a rebate of $2,000 and a promotional interest rate of 0%. However, you will also get an extra $500 off if you finance the car at the standard interest rate (2.85%) instead.
As a result, if you take the $2,500 off and finance at the standard rate, Janessian says that your monthly payment would be $425, and about $15 less if you take the $2,000 off and the 0% interest rate.
Leasing a Sonata SEL can get you a lower monthly payment
If you plan on leasing a Sonata SEL instead, then you can use the same MSRP and discounted price of $26,270. However, the lease incentive is lower at $2,000, but the money factor is low as well at 0.00106% (2.5% interest), and the car’s residual rate is 63% after 36 months. Plugging all of these numbers into his lease calculator, Janessian reveals that you would have a monthly payment of $250, with around $1,800 as a down payment. That’s a really good deal.
Your pricing, incentives, and taxes may vary
One important part to note is that the pricing, incentives, and calculated taxes will vary depending on your location and the offers could be different next month. But you can still use these numbers as a guideline if you do find yourself sitting at your Hyundai dealership soon.