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Hyundai Genesis Lease Questions

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  • jeffaljeffal Posts: 28
    chicagotouareg,

    I'm in the Chicago area too and I'm thinking about leasing a new Genesis. I have two Hyundai dealers near me, but they have horrible reputations and deals. Can you tell me what dealership you got your Genesis from?

    Thanks.
  • jeffaljeffal Posts: 28
    toyoman8,

    Yes, you can lease the Genesis for 36 months and 12K miles.

    I'm not sure what your lease payments would be, but you should email or call several Hyundai dealers in your area and get a lease quote. That way you'll have an idea of what you'll have to pay.

    Also, it does not make any sense to put $3000 down for a lease. When you ask for a lease quote make sure to tell them you want to put $0 down and you want the taxes rolled into the monthly payment. That will make things easier.
  • Current offer from Ohio dealer:

    40,150 MSRP V6 with tech pkg.
    37,995 Sale Price
    500 Lease cash discount
    37,495 Final Sale Price

    15K miles, 27 months @ 506.40 with 3659.34 down which includes taxes, etc.

    Any advice would be appreciated.

    Also, I am 4 payments from the end of my Lexus es350 lease and don't know whether I should wait and hope the lease programs get even better or roll the 4 payments into this deal.
  • JEFFAL

    I purchased my Genesis from Pugi Hyundai. They were very pleasant to work with, I tried working with other dealers and they either (a) had no idea how to work the incentives from hyundai or (b) were trying to rip me off. Either way their payments were off in some cases by $300 a month. Even the exisiting dealer I leased a Hyundai at from 24 months earlier gave no where near the deal I received at Pugi, You should check them out and ask for Patrick he was a good guy to deal with
  • Hi toyoman8. If you reeeeeally wanted to you technically could lease a Genesis for 36 months instead of for 27 months. However, if you go with a 36 month I believe that this car's money factor jumps from the special .00027 (0.64% interest) to .00340 (8.16% interest). Needless to say, it makes much more sense to go with the 27 month lease.

    I would be happy to work up a sample lease payment on the exact car that you are interested in for you, however in order for me to do so I need you to provide me with its full MSRP and its dealer invoice price.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Not sure if this helps anyone, but I just brought my Genesis home this evening after signing this lease deal here in Omaha:

    MSRP: $33,000 (base V6)
    Selling Price: $29,700
    Lease Rebate: $500
    Term: 27 months @ 12K miles / year
    MF of .00027 with 59% residual
    Monthly base payment (pre-tax): $373.88

    0 cap reduction paid up front.

    Paid $1260.17 at delivery which included acq fee of $595, doc fee of $199.50, title of $10, tax on fees of $55.62, and first month payment of $400.05 (includes tax).

    Not sure how this stacks up, but I'm pretty happy with it.

    See you on the road!

    Vlad
  • The 27mo lease seems good to me. And at lease end, I assume the price to purchase is 59% residual of the negotiated "purchase price" or car value, for example, $17,700 on a value of $30,000. My question is whether the car's trade-in value will be more or less than the residual value. My intention would be to keep the car.
    Thank you
  • kyfdxkyfdx Posts: 28,434
    The residual percentage is multiplied by the MSRP, not the selling price...

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Thank you. That was not clear to me. Now I'm less sure leasing is the best way to go on a V6 Genesis. Of course, the whole strategy in car sales is to keep the buyer a bit confused (IMHO). Does the "capital cost reduction" (if any) get credited somehow to the residual value, or just go into the dealer's pocket? Thanks
  • kyfdxkyfdx Posts: 28,434
    The CAP cost reduction lowers the amount financed, ergo a lower lease payment.. So, it's not money lost, but generally, it is a good idea to lease with as little down as possible.

    If you are looking to lease, with the idea of buying the car at lease end, you will usually be better off purchasing the car in the first place.

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Congratulations on getting your new Genesis, Vlad. Thanks for taking the time to share the details of your lease with everyone. Make sure to hop on over to the Dealer Ratings & Reviews to share your thoughts on your recent dealer experience as well. Enjoy your new ride :shades: !

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • That's one of the things that I've always found frustrating about cap cost reductions on leases, george66. While they do reduce vehicles' amount financed, and in turn their monthly payments, they have absolutely no impact upon vehicles' lease-end purchase option prices. The purchase option price of a Genesis at the end of a lease would be exactly the same, regardless of whether you had put $5,000 down or $0 down.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hello Everyone,

    Like many here, I'd like to lease a Genesis. I'd been in contact via email with one of the dealerships mentioned in another post, and when in my second email I wrote that I drive 20,000 miles per year and asked how I could pay for this mileage up front to avoid paying a premium/penalty at lease end, the salesperson stopped corresponding.

    Is 20,000 miles per year out of bounds for leasing a car? I'm not sure where to go from here. I'm not interested in keeping the car beyond the lease period - a new car every couple of years is one of the very few treats I allow myself. Doing this by purchasing and going into the dealership upside down with three years left on a loan gets to be too expensive. Any thoughts?

    Also, does anyone have any thoughts on using online lease brokers such as 1 Click Auto Brokers?

    Thank you!

    Jim
  • keithlkeithl Posts: 106
    I have an offer on a Genesis V6 Tech for 20K miles per year for their current 27 month lease special and it is $690 a month, no money down except first month up front. I consider that an exceptional deal considering is is 9 months shorter than most convential competitive leases. This elease is trhough hyundai and 2 diffeent dealers have matched the offer. The only concerns I have with hyundai leasing is they require you keep a $500 deductable on collision and comp and I keep $1K.
  • I am looking to lease a new Genesis in the next month when my Acura RL lease expires. Does anyone know if you can do better than the current 27 month lease deal? Are dealers willing to go lower than this deal? Also, I want to lease the V6 but with the tech package. not the base..whats the lease payment on that car? I think the MSRP is $40,000 with everything. Any help on lease pricing would be appreciated.
  • sweendogysweendogy Posts: 1,139
    Hello--

    just wanted to comment on the host interaction on this chat and would like to say thank you for your comments.. its good to see chats that add value to the channels. ==
    Thanks again and keep it up..
  • Hi roberts10. 27 months is definitely the term to go with if you want to lease a Genesis through Hyundai Finance right now. That is its most attractive program for this car. Like most manufacturers' official advertised leases, I suspect that you can do better than the payments that Hyundai is advertising on this car right now. In order to do so, you need to negotiate a lower selling price than the one that was used to arrive at the advertised payment.

    Shop around for the lowest selling price possible on this car. If I was interested in leasing a Genesis V6, I personally would shoot for a selling price of right around dealer invoice minus the $1,000 cash incentive that Hyundai is providing on it right now. You can look up the exact invoice price of the car that you want over in the New Vehicle Pricing section of Edmunds.com.

    Good luck and let us know if you have any other questions.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Thank you very much for the kind words, sweendogy.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Car Man,
    Do you know the money factor and residual for the V8? Is there a special 27 month deal on the V8 as there is on the V6?
  • Wait, from what I can see. Money factor is the same on the V6 as V8 for the special 27 months.
    Can you tell me residual for 10k, 12k and 15k on the V8?
  • This is a great forum. Good job guys.

    I am looking for the new leasing numbers on the v6 with premium and 15000 miles. It is my understanding that the program changed on 2/2/09. What is the new residual value and money factor? Thanks for any help you can provide.
  • Hello aohurst. Yes, Hyundai is providing support on the V8 model. Its current buy rate lease money factor and residual value for a 27 month lease of a 2009 Genesis V8 with 15,000 miles per year are .00015 and 53%, respectively. This residual value would be 1% higher for a lease with only 12,000 miles per year. I'm not sure if Hyundai offers a 10k option, but if it does I have never seen anything about it.

    When negotiating your lease on this car, make sure to take the $1,250 cash incentive that Hyundai is currently providing on leases off it into account.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I'm glad that you like this forum so much, chavogringo. Hyundai's February lease program for the Genesis is exactly the same as its January program was. Its current buy rate lease money factor and residual value for a 27 month lease of a 2009 Genesis V6 with 15,000 miles per year are .00015 and 56%, respectively.

    When negotiating your lease on this car, make sure to take the $1,000 cash incentive that is available on it into account.

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

    Thanks for the info on the the Genesis leases. I am interested in leasing the V8 from Champion Hyundai in Houston, TX. I entered my zip (77581) in the "special offers" section on www.hyundaiusa.com and the special offer of $399.m for 27 months is offered. However, via email, the dealership is telling me that Hyundai is offering the whole country except the SE Region this deal and he then mentioned the low APR purchase rates. It sound like fishy to me as it contradicts their website. Do you have any insight on this?

    Thanks!
  • Forget my question about the Houston lease program. I was looking at the website wrong. I am waiting to hear back from the dealer what they can actually offer. I will post it once I know.
  • anonymouspostsanonymousposts Posts: 4,202
    and was completely surprised what a great vehicle this is and how well put together it seems.

    The local Hyundai dealer offered me this deal ... not sure about it though ....

    2009 Hyundai Genisis V6 with premium and technology package

    MSRP: $40,000
    Cap cost: $37,223
    Due at signing: $0.00
    550 + tax per month

    We walked on the deal because I wasn't prepared to buy a Hyundai and didn't have time to do any research.
  • pk45pk45 Posts: 3
    I have a few questions regarding the leases offered by Hyundai Genesis V6 with premium package. Was working on a deal on Fri. and they did not know about the lease offer. After a hour they agreed but when we got to the end they wanted over $4000 down to get to the $419 lease payment. They explained that in addition to the $2599 down there was $799 dealer fee, $595 acquisition fee, $199 for title, doc, and tag, and $89 for dmv. I am worried that Hyundai won't extend the leases (today is the last day for this offer) but I want to know which of these are bogus, I was hoping the $2599 would cover everthing. I need help quickly
  • wgr3wgr3 Posts: 11
    Actually Car_man, the special residual and lease factor only apply at the 12,000 mile level, .00015 and 54% on the V8. A customer wishing a different term will not benefit from the lease rebate or lease factor. Extra miles are available at $0.15 per mile at inception.
  • wgr3wgr3 Posts: 11
    What state are you in?
This discussion has been closed.