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Hyundai Genesis Lease Questions

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  • I've got a 2009 3.8 Genesis loaded that is coming off the 24 month lease and has 25K miles. Have loved this car...so want to keep it. Just wondering if anyone else has purchased after the lease and if: 1) you were able to negotiate the sale price at all? (not common), 2) had any surprises with the process?, 3) worked with a dealership or sent the payoff check directly to lien holder?

    It's nice to buy out a lease and end up with several thousand in equity (to BB retail) and a great car)

    Also, any other experiences with getting service dept to replace the Throttle Position Sensor? I have noticed some hesitation on acceleration lately....

    Thanks!
  • toyetoye Posts: 351
    Mine will be up after 36 months and I will probably have about 37k on it and they 3.8 Tech my buy out will be just under 19k according to my paperwork.
  • You cannot negotiate the sale price of a car coming off lease. What the lease paper works states is the residual value is the price you pay. Think about it, if the car were worth a lot less then the contracted residual value would you let the lender charge you for the difference?
  • Yeah....think about it. You can indeed negotiate the lease buyout sale price with some companies, my question was regarding any experience with Hyundai. Most lease returns are going to go to auction, or will be sold at a discount to a dealer and they won't get the full residual, so there's often room for negotiation. Some companies have an insurance that covers this gap, so they are not motivated to deal...but buyers will never know who does, and who doesn't...so again, my question regarding any real life experience. I doubt there is...but it can't hurt to ask.
  • I had a great experience. Had a 3.8 2009 with 17000 miles. To get best financial deal, I decided to lease a 2011 4.6. I couldn't negotiate buyout price with Hyundai finance but negotiated trade price with dealer. Picked up 2000 equity from trade and no turn in fees (400). Got a terrific price on 2011 and for a 3 year lease lowered my lease payment 40 month with big improvement in the car. I loved my 2009 but...Drive the 2011...it is a much better ride with every bell and whistle. Also, check out hyundai think tank/hyundai circle. Path to a fabulous deal!
  • Hello Car man,

    can you provide me with the following information on a 2011 Genesis Coupe 3.8 base (no navi) with Automatic Transmission, on a 36 month, 12000 miles/yr lease, in NYC

    MSRP
    Invoice
    Holdback
    Residual %
    Residual $
    Money Factor
    Estimated Monthly payment with 0 down

    Would also appreciate the same info for Grand Touring of the same model.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited October 2010
    Hi infalliblesal. You can find the pricing data that you're looking for over in the New Vehicle Pricing section of Edmunds.com.

    Hyundai Finance's October buy rate lease money factor and residual value for a 36 month lease of a 2011 Genesis Coupe 3.8 with 12,000 miles per year are .00150 and 57%, respectively.

    I believe that the numbers for the Grand Touring model are .00150 and 58%.

    Let me know what the prices for the exact models that you are interested in are and I will be happy to work up some sample lease payments on them for you.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Car Man,

    I wrote up a purchase order on a 2011 Genesis Coupe 3.8 Grand Touring in Dark Gray for 29696 (500 above invoice?)

    I'm assuming destination is included in that, since the numbers tied to edmunds as follows:
    27918 Invoice
    +228 Options (cargo net, cargo tray, ipod cable, carpeted floor mats at invoice)
    +250 advertising
    +800 destination
    =29196

    When I worked up the numbers i did:
    +500 dealer profit negotiated

    =29696

    +595 Bank fee (standard non negotiable?)
    -400 student rebate

    =29891 adjusted cap

    -17884.3 Residual (@ 58% MSRP of 30835, quoted and confirmed by dealer)

    =12006.7 depreciation
    /36
    =333.52 Dpereciation / month

    and then using leaseguide.com method:
    (29891 +17884.3) x .0015 (quoted by you, confirmed from dealer)
    =71.66 Interest per month

    333.52+71.66= ~ 405

    I meet with the finance manager on saturday (unless i can get there tonight), but I believe the sales guy and I were agreeing at about 409 per month, pre tax.

    In NYS the tax is on the sum of the payments (409 x 36 x .08875 = 1306.75/36= ~36.30, making my total monthly about 445.30)

    If you could confirm the quality of this deal I would appreciate it. I am assuming that the 800 destination is already built into this price, and I think theyre going to try and add it on again next to the bank fee. Am I correct in assuming that I should not allow this?

    Please let me know if your calculation of a good deal on the monthly payment on this car is significantly different from mine.
  • Hi infalliblesal. $500 over dealer invoice is a very good deal for a leased 2011 Hyundai Genesis Coupe. If you think that the invoice price that the dealer quoted you is not accurate, you can look it (including the destination charge) up over in the New Vehicle Pricing section of Edmunds.com.

    Also, you might want to check to make sure that the dealer is using Hyundai Finance's buy rate lease money factor of .00180 to calculate your car's payment.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • what are the current residual and money factors for 2010 and 2011 genesis sedan 4.6L?

    looking for 36mths 15k

    thanks!
  • Hi mwahlert. Hyundai Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Genesis Sedan V6 with 15,000 miles per year are .00115 and 56%, respectively.

    The numbers for an otherwise identical lease of a 2010 model are .00059 and 48%.

    Hyundai is providing a $2,000 cash incentive on leases of the 2010 model, but no cash on the 2011 model.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I'm interested in leasing a 2011 Genesis Coupe 2.0

    Anyone know the residual and money factor for November?
  • Greetings agamemnon. This car's lease program varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different.

    Hyundai Finance's November buy rate lease money factor and residual value for a 36 month lease of a 2011 Genesis Coupe 2.0 with 15,000 miles per year are .00150 and 58%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Sorry for not including the term and miles, but you're correct. 36months/15k miles

    Thank you for the information. Appreciate it!
  • After almost decades of owning premium / luxury cars, I made the regrettable decision to buy a Hyundai. All my friends and family were skeptical. I have spent the past several months working with dealers and HMA Consumer Affairs to address the problems. Every time they tell me they DO NOT see the problems. Is anyone else having these problems? The whole experience has been extremely disappointing.

    1. Rattling / grinding sound: This is mostly when driving at lower gears (0-40mph). The rattling becomes faint when the car is in cruise mode.

    2. Jerky transmission: the car jumps a gear very often while accelerating and decelerating

    3. Squeaking / cranking sound from the rear seat when driving over a rough / bumpy road. Sometimes the noise is so loud, I am worried something may fall off.

    4. Loud rumbling noise when starting the car first thing in the morning

    5. Vibrations while driving, this got progressively worse and I noticed the passenger seat shaking back and forth.

    6. The horizontal defog elements on rear wind screen give a hazy view at night

    7. Tires are wearing off and tread is low at only 30k miles.

    8. The cabin lights flicker when switched ON or the door is opened.
  • First of all...I smell troll!!!!!!!!

    1. Rattling / grinding sound: This is mostly when driving at lower gears (0-40mph). The rattling becomes faint when the car is in cruise mode.
    No such problems on my 18 month old Genesis V8/Tech

    2. Jerky transmission: the car jumps a gear very often while accelerating and decelerating
    No such problems on my 18 month old Genesis V8/Tech

    3. Squeaking / cranking sound from the rear seat when driving over a rough / bumpy road. Sometimes the noise is so loud, I am worried something may fall off.
    No such problems on my 18 month old Genesis V8/Tech

    4. Loud rumbling noise when starting the car first thing in the morning
    No such problems on my 18 month old Genesis V8/Tech

    5. Vibrations while driving, this got progressively worse and I noticed the passenger seat shaking back and forth.
    No such problems on my 18 month old Genesis V8/Tech

    6. The horizontal defog elements on rear wind screen give a hazy view at night
    No such problems on my 18 month old Genesis V8/Tech

    7. Tires are wearing off and tread is low at only 30k miles.
    Wow...you got lucky that you made it that far with the Duncraps!

    8. The cabin lights flicker when switched ON or the door is opened.
    No such problems on my 18 month old Genesis V8/Tech
  • kenb757kenb757 Posts: 149
    The next Lexus, huh? LOL. The car rides like crap to begin with. The other stuff just serves to get you "closer" to the "driving experience."
  • toyetoye Posts: 351
    I've got to agree with Sergio on this one... I've also have had my Genesis for 19 months....28k on it and the only disapointment has been the Dunlaps which I replaced when the back two tires shown extra wear at 23k and replaced all to keep the ride, drive like new.....!

    The only thing I could think of is that "genesis owner" rode the worn down tires well beyond exceptable levels and the quality ride deteriorated to where it became unacceptable. New tires does make a difference!!
  • You're very welcome, agamemnon.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • ctlctl Posts: 123
    although some items are a bit nitpicking, the list seems real and reasonable. No car is perfect, Hyundai is far from it. Not sure who's the troll here...
  • Hi - I would like your thoughts on the lease deal I just completed:

    2011 Genesis 3.8 Sedan w/Premium and Technology Pkgs
    List Price: $41,800.00
    36mths/12,000 mi per year
    $750.00 Down, which includes 1st mths payment
    $400.00 + tax per mth payment

    How did I do??

    Thanks Car Man!
  • toyetoye Posts: 351
    Sounds like a sweet deal!!
    What's the payoff for the Genesis after the lease is up?
  • I believe they were just using the residual formula figures, although I did try to negotiate that as well, to no avail.. I have no plans to buy the car at lease end.
  • toyetoye Posts: 351
    With a lower lease payment usually means a higher payout for the Genesis after the lease is up.... I will pay $18,500 for my 2009 Genesis 6 cyl tech at the end of 36 month lease with about 35k mileage. Just wanted to know what your payout would be whether you buy or not. thanks
  • I have a lease end buy figure of $23,845.95, but I have no plans to buy it. I'm coming off 9 yrs of BMW leases and I just wanted the cheapest, best car I could find this time around. I tell you what...with this sweet ride you really don't need to pay $800/mth for a 535i!
  • Hello all,

    Can anybody suggest a way that we can get the conquest discount of $1500 even though the car that we have is under somebody else's name? It's family and the address is the same but the name will not be the same.

    Also, we're getting a 2011 3.8 genesis sedan with tech and premium on a 3yr/36K mile lease for $460/month + tax with just the first month and tax due at delivery. Would you move on this deal? I don't have the final sale price but I'm worried since another post mentioned $400 + tax on a lease.

    Thanks in advance.
  • toyetoye Posts: 351
    I'm paying $489 plus tax for my 09 tech 6 cyl but with 15k mileage per year.(up in March of 2012) It sounds like the Genesis's resale value is going up and the monthly leases are going down....more affordable for a person who wants to lease.

    Even though I've leased I have put painted mud guards, rear window spoiler, 4 new Bridgestone high performance tires and put in a plug and play video in motion (VIM) that intergrates flawlessly with the DVD player. The Genesis will be a bargain at $18,500 whent the lease is up.

    Congratuations on your new "sweet ride"

    Driving a simular luxury car at 1/2 the cost...that is just great!
  • Would love some feedback on a lease we're considering. It's for a 2011 Genesis 4.6 with a price quote of $39,590 (roughly $1350 under invoice). We're putting around $4K down and the lease will be roughly $464 a month. Based on all the research I've done, this sounds like a steal (since most dealers are advertising the base 3.6 at $399 a month) but would love some feedback. The buy out price would be $24,584. We're going to make our decision this week but would love to hear from the masses on how good of a deal this is.
  • Very interested in a new 2010 Genesis and noticed what seems to be a good lease deal advertised. This would be my first lease so I am new to leasing. Current advertisement is $299 mo with 995 due at signing on a V6 base model. I have spoke with this dealer several times regarding a purchase and I can purchase a 2010 base for $29,500 OTD. Is this a good deal and what is the payoff price based on at the end of lease, MSRP or invoice?

    Thanks
  • $299? I *JUST* saw an ad on TV for $399. Is that a typo?

    If not, what state are you in? I'd like to find the info on that deal!
This discussion has been closed.