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Hyundai Genesis Lease Questions

kyfdxkyfdx Posts: 31,079
Ask your Genesis lease questions here!

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  • Hey Carman:

    I am in the market for a V6 Hyundai genesis and want to take advantage of the 24 month lease incentive. What is the money factor and residual on this current lease incentive from Hyundai for the 12,000 miles per year.

    Thanks!!
  • Car Man:

    I am in the market for a new V6 Hyundai Genesis Lease. They currently have a subsidy for 24 months lease with 12,000 miles. What is the money factor and residual for this vehicle? Thanks for your help!!
  • Hey chicagotouareg. Hyundai Finance's current money factor for a 24 month lease of a 2009 Genesis V6 is the lowest possible .00001. Its residual value for a 24 month, 12,000 mile per year lease is 62%. When negotiating your lease on this car, make sure to take advantage of the $500 cash incentive that Hyundai is providing on leases of this model right now.

    Car_man
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  • sandy25sandy25 Posts: 65
    Car-Man

    A quote I got August had a residual of 66% and money factor of .00080. Comparing this to the 62% and .00001 you say is the current deal, would the monthly payment be about the same?

    And help me with my math...Edmunds has a formula for determining the monthly interest cost of various money factor rates: Cap cost plus lease-end value times the money factor. Using this formula, I tried to compute the monthly interest cost at .00001 on $56973 and got $.56973. Could that be correct? Fifty six cents?
  • kyfdxkyfdx Posts: 31,079
    That's it... $0.56 per month.. finance charge

    Basically, a zero interest loan..

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  • gfish49gfish49 Posts: 24
    What would the residual value be on a 24 month lease at 20,000 miles a year? I assume the money factor would be the same. Thanks!
  • Hi gfish49. The highest residual value percentage that I have seen Hyundai Financial offer is 15,000 miles per year. The residual for a 24 mo., 15k lease is 62%. If you need to drive more than that, you will likely have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the scheduled end of your lease and have to pay an excess mileage penalty.

    Car_man
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  • Fantastic car and right now, a great lease deal - I'm in the process of looking for the right numbers.

    1. There are some contradictions above. Is the residual 62% for 12k/year or 62% for 15k/year?
    2. I spoke to my dealer and was told that the residual is the SAME for both loaded (Genesis V6 with Tech) and base V6 Genesis's, but does anyone have something that says otherwise?
    3. How much are the fees that need to be paid in this lease (acquisition fee, disposition, etc.)? Are they negotiable?
    4. What would be considered a good deal on a Genesis V6 with Tech (MSRP 40k)? I personally feel that $700 down, $510 + tax, would be a good, doable, agressive deal, especially when you factor in the $500 cash incentive they are offering right now.

    If the $700 down cancels out all the lease inception fees (lets assume fees are negotiable and come out to be $700), you would have to negotitate a price on the vehicle of 37000. Invoice on this vehicle is 37000 minus the $500 cash incentive, so invoice is really $36800. So the dealer is getting $200.

    Not a bad deal in my opinion, especially if you plan on keeping the car. This is an excellent way to get the car, whilst paying NEGLIGIBLE interest.

    Experts on here - any thoughts? Advice/Insight appreciated!
  • sandy25sandy25 Posts: 65
    I'm not an expert...but stopped into a dealer yesterday and got this quote on a V6 with Nav (I didn't try and negotiate because I don't want to do anything until 11/30 when my current lease expires but from the conversation there was wiggle room):

    Up front: lst month, Acquisition fee and DMV fees....$1244
    $591 inc sls tx x 23 payments

    This is in the NY metro area (Ct)
  • Seems very high.

    I too am looking at this car next year when my Infiniti M and BMW 535 go back. (I hate my 5 series!!!!!)

    I am looking at the V8 and looking to stay at $500 a month for 18,000 miles with only basic fees.
  • carnaughtcarnaught Posts: 1,610
    On the car with the premium and tech pkgs. and a sticker of just under $40000, I was quoted $2100 down and $499/mo. plus TTL. This is an okay, not great deal, IMHO.
  • wgr3wgr3 Posts: 11
    1. The 24 month residual @ 12k miles/yr is 63% and at 15k miles/yr it is 62%. The acquisition fee is $595 and not negotiable as it is a charge from Hyundai Finance;

    2. The residual is not the same for both the V6 & V8 models. The residual for the V8 is 60%.

    3. The additional fees in a lease include the Acquisition Fee mentioned above and the security deposit which may be waived at a higher lease factor. The current lease factor for excellent credit is .00001 or 0.024%. The security deposit is refundable at lease termination, and equals the monthly payment rounded up to the nearest $50. ALL fees, taxes, etc. may be rolled into the monthly payment. The only money required at the beginning of the lease is the 1st months payment, including the secuirty deposit(if you pay a higher lease factor);

    4. The cash incentives are applied to the cap cost on behalf of the customer and do not reduce the invoice. A V6 with the tech pkg has an invoice of $37563, and the monthly payment at our dealership (Schaefer & Strohminger 5665) up front would be $606.56, including all taxes, tags and fees for 24 months.
  • I think I am getting very bad deal on a V8; any help would be greatly appreciated...

    Here is the deal (some numbers are rounded up);

    12k miles / year with 24 months lease.
    Price $42100 ($100 dollars more)
    Doc / Acquisition / License fees: $1000 (I know I have to pay this!?)
    Gross Cap $43.100
    Down $2200
    Rebate $500
    Amt applied up front $900 (Not sure what that is?)
    Total Cap Reduction $1,800
    Net Cap cost $41,3k
    Residual %60 (Not sure if this supposed to be 62% or 63% for V8)
    Money Factor .00001
    Upfront charges $170 (not sure what that is?)
    Base monthly $670 + Taxes = $715 (Which is a lot higher than what I was expecting)

    I was expecting around $590 (including taxes!!) not sure how we got to $715??

    Thanks for your help...
  • carnaughtcarnaught Posts: 1,610
    I think I am getting very bad deal on a V8

    I agree with you. You're putting down a lot and paying high monthly fees. I'd walk on this deal or try negotiating on the 6 cylinder. I was quoted $2200 down and $499/mo. plus fees (TTL) for the loaded 6 with luxury and tech. packages.

    (For less than what you were quoted you can lease a loaded 5 series BMW, FWIW.)
  • I am considering leasing a 3.8L Genesis with either base or premium package (haven't decided yet). Does anyone know how much room for negotiation we have from the MSRP? Hyundai is advertising 399/month lease for base package with 2199 down but does not include tax. Any one has any recent experiance they could share?

    Thanks!
  • viperz4 - I checked the v-6 with Premium today with several dealers and the opening asking price seems to be $530 /month (incl tax) with about $1000 out of pocket up front for dealer fees, 1st month payment and registration. The $595 acquisition fee was rolled into the monthly payments. I think $500 would be realistic. This is in the Northeast where inventories are slim and so dealers have that advantage.
  • (For less than what you were quoted you can lease a loaded 5 series BMW, FWIW.)

    Changed dealers and I think I did o.k... I got the V8 tech , 2199 down (everything including first month payment) and $605 a month, I think I could have got few more $s, but at some stage there is a price of driving the first V8 in the state (or at least that is what I was told) :shades: ...
  • Please can you tell me the new residual figures for 15,000 mile, and money factor on the Genesis. I think they changed on 11/4 to 27 months, 62%, and 0.00027.

    Thanks
  • Hi automan999. Hyundai's current buy rate lease money factor and residual value for a 27 month lease of a Genesis V6 with 15,000 miles per year are .00027 and 58%, respectively. When negotiating your lease on this car, make sure to take the $500 cash incentive that is available on it into account.

    Car_man
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  • I pulled the trigger on a 3.8 V6 with Premium package. 24 month lease 0 up front, just first months lease payment. Total monthly payment including tax $440.00. 12,000 miles per year. Overall good deal compared to the other crazy dealers and their inability to work the hyundai incentives here in Chicago.
  • xxozxxoz Posts: 2
    If I was interested in the 27 month lease with either 18k or 20k mile allowance per year, can anyone give me the necessary values for this?

    I am considering a 3.8 V6 with Tech Package.
    Thank you!
  • skylabskylab Posts: 37
    Car_man, could you please provide the current 12k-a-year money factors and residuals on the V8 Genesis at 24 and 27 months? Many thanks.
  • Car-man - Is the .00027 money factor and 58% residual for a 27 month lease the same for a V6 with Premium package as opposed to a V6 with Tech?
  • Congrats on getting your new Genesis, chicagotouareg. Thanks for taking the time to share the details of your lease. If you'd like, you can hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well. Enjoy your new ride :shades: !

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  • Hi xxoz. I believe that 15,000 miles per year is the highest mileage allowance that Hyundai Finance publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

    Hyundai Finance's current buy rate lease money factor and residual value for a 27 month lease of a 2009 Genesis V6 with 15,000 mils per year are .00027 and 58%.

    Car_man
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  • Hi skylab. Hyundai Finance's current 27 month buy rate lease money factor and residual value for a 2009 Genesis V8 with 12,000 miles per year are .00027 and 56%, respectively.

    Car_man
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  • Yes, sandy25, they are the same for all V6 models.

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  • After negotiating and agreeing on a price, when I showed up to sign the lease I was then told about a disposition fee of $400 due at lease end if I didn't purchacde the car. Do you folks have this fee in your leases?
  • Hi sandy25. Many banks, including Hyundai Finance, charge disposition fees at lease-end. This is a standard charge that's levied by the bank that you are leasing through. Individual dealers cannot waive it.

    Car_man
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  • Hi everyone, If I wanted to lease genesis base model for 36x12k can I do it? or It has to be a 27mos lease?

    Also assuming the Invoice price what would be my mos payments with $3000 down 36mosX12k yeasr?
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