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Hyundai Genesis Lease Questions

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Comments

  • toyetoye Posts: 351
    Congratulations on your new Genesis!

    I've been having a ball getting aquainted with my new car. I'm finding the Technology on this car incredible and intuitive. Put in a DVD while you are in park and you'll hear just how incredible the surround sound really is.

    So far this car is incredible!!!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi cpaman. I saw the Genesis at the NYIAS as well. I was very surprised at how nice a car it is. The Genesis Coupe is very nice as well.

    Hyundai Finance is only currently providing support on 36 month leases of the 2009 Genesis Sedan. Its current buy rate lease money factor and residual value fro a 36 month lease of a 2009 Genesis Sedan V6 with 15,000 miles per year are .00060 and 48%, respectively.

    When negotiating the capitalized cost for this car, make sure to take advantage of the $1,000 cash incentive that is currently available on leases of it.

    Tthere's nothing wrong with leasing through independent banks but I doubt that you will be able to come even close to the payment that is available by using Hyundai's official special lease program.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey cpaman. Different states use different methods for calculating sales tax on leased vehicles. There are three main methods of doing so (I suppose that you could say that there are four if you count the states that don't charge sales tax at all).

    In the first, the state taxes the payment and down payment. The last time that I checked, most states, including Florida, Georgia, Missouri, Connecticut, and California use this method.

    The second way is to tax the entire selling price of the vehicle. Again the last time that I checked, this is how sales tax is calculated on leases in states like Illinois, Texas, and now Ohio.

    Lastly, some states only tax the depreciation portion of leases. This is tax is calculated on leased vehicles in New Jersey.

    I am not sure exactly how sales tax is calculated on leased vehicles in New York, but you may be able to find out by visiting one of the following sites:

    New York Department of Motor Vehicles

    or

    New York State Department of Taxation and Finance

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on getting your new Genesis, toye. Thanks for taking the time to share the details of your lease with everyone. Real world examples like this are always tremendously helpful for people who are in the market for similar vehicles.

    If you haven't yet, make sure to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others.

    Thanks again and enjoy your new ride :shades: !

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi markinfrisco. Hyundai is actually promoting a 36 month lease on the Genesis Sedan instead of a 27 month lease now. Hyundai Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Genesis Sedan V8 with 15,000 miles per year are .00090 and 46%, respectively.

    When negotiating the capitalized cost on this car, make sure to take advantage of the $1,250 cash incentive that is currently available on leases of it.

    Car_man
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  • I just called a couple dealers here in the Dallas/Fort Worth area. They told me that they are NOT offering leases on the Genesis. Purchase only is what they told me. They said Hyundai USA offered either the special financing rates through purchases or through leases and they only allowed each region to pick one. The region that covers Texas said they decided on purchases only.

    If that isn't the dumbest thing I have ever heard... I don't know what is?? I use my car for business purposes and only lease vehicles. I guess Hyundai USA won't be getting my business as they have now tried to put every customer into a small box. It just doesn't make sense to me.

    Anybody else heard this before?

    Mark...
  • kenb757kenb757 Posts: 149
    If they fix the suspension, I'll consider the Genesis for my next car, and if I decide on the Genesis, I'll go out to CA to lease the car and drive it back to TX.
  • bill2006bill2006 Posts: 8
    I was ready to say I didn't see the big orange letters stating no salespeople names.
    When I went to post that comment, then I saw the big orange letters.
    Sorry.
  • toyetoye Posts: 351
    You were happy with the buying experience and got a fine automobile. Nothing to be sorry about. Give the dealer a good review the section where you can rate your buying experience in Edmunds
  • cpamancpaman Posts: 42
    Hey guys, just to keep you up to date, today i signed the contract and made my deposit on the Genesis 3.6 B/B with tech package in NY. I pick up the car on Thursday. I am extremely excited, i am looking for some accessories for the car, namely the hood and trunk emblems along with the illuminated door sills, front and back door, along with the chrome kit which are the extras that come with 4.6 w/tech (from what i heard), does anyone know where i can get those accessories from to put on my new car. Otherwise, like i said i am excited to get my car this Thursday.

    CPAMAN
  • toyetoye Posts: 351
    Go to Ebay for the hood,trunk, steering wheel, and hub caps emblems. Several sites will be able to help you. I don't know if you can get the illuminated door sills as that only comes from the factory for the 4.6. I may be wrong. Good Luck on your fine new automobile.
  • Unfortunately, if you live in the SW region for Hyundai, Hyundai USA will not approve a sale to anyone that lives in that region using a lease if the financing arm of Hyundai is involved in the transaction. They told me that a few people in Texas had gone to places on the east coast to lease and were denied.

    The Next Lexus? I don't think so.
  • cpamancpaman Posts: 42
    I've never used Ebay, haven't heard of many good experiences, i heard too many stories of people gettin ripped off, do you agree? Is there another source i could use? I would really love to get the door sills and the emblems.

    CPAMAN
  • toyetoye Posts: 351
    Alot of legitimate companies use ebay to sell their wares. You may referring to about private individuals inregarding problems. I will be getting the Genesis steering wheel badge ($15.95) soon and I will be using Ebay to make it happen.
  • cpamancpaman Posts: 42
    Toye,

    What company are you using for the steering wheel emblem? I am looking to get that as well eventually, i really want the hood and trunk emblems first then the illuminated door sills. They look hot on the 4.6.

    CPAMAN
  • toyetoye Posts: 351
    Go in to ebay and type in "hyundai genesis steering wheel badge" and you should find few companies that deal with the hood, trunk, wheel and steering wheel.
  • tenpin288tenpin288 Posts: 804
    Here's a vendor with some of the items you are looking for.

    KAI
  • cpamancpaman Posts: 42
    Well i picked up my car today and i am in love. The car is incredible, hell it sells itself, not too happy with the dealership i used - Curry Hyundai in Peekskill NY but it's over now and i have my car. I have been reading the blogs about the bouncy suspensions and i must admit the ride is rather bouncy on uneven roads and it is very noticeable. But when the roads are smooth or not so uneven it feels like I'm gliding on air, i think there are some hydrolics or something because the seats and ride is cushiony (is that a word,lol) I felt a little bit of this when i test drove the car so i was not too surprised, it wont stop me from driving it though, i love it. I now all i need are the emblems and i'll be set.
  • jugator1jugator1 Posts: 1
    Hi Car_Man,

    Would you please post the June money factor and residual value for the 2009 Genesis 4.6 w/Tech package for a 36/12k term?

    Thank you.
  • newsernewser Posts: 4
    I was wondering what info I could get for the lease of a V6 Genesis in Southern California
  • tmd820tmd820 Posts: 3
    Hi Car Man,

    Can you help with the numbers (residual, money factor, current incentives etc.) for a 2010 Genesis Coupe? My wife is interested in leasing one with a 2.0/Premium package. She went and test drove one yesterday and fell in love with it.

    Any help will be greatly appreciated.
    Thanks, Tom
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, jugator1. Hyundai's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Genesis Sedan V8 with 12,000 miles per year are .00070 and 46%, respectively. When negotiating your lease on this car, make sure to take advantage of the $1,250 cash incentive that is currently available on it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi newser. I can provide you with information on this car's lease program and incentives, but its monthly payment will depend upon the MSRP and selling price of the exact unit that you want.

    Hyundai's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Genesis Sedan V6 with 15,000 miles per year are .00019 and 46%, respectively. When negotiating your lease on this car, make sure to take advantage of the $1,000 cash incentive that is currently available on leases of it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello Tom. Hyundai's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Genesis Coupe 2.0 Premium with an automatic transmission and 15,000 miles per year are .00134 and 55%, respectively. When negotiating your lease on this car, make sure to take advantage of the $1,000 cash incentive that is currently available on leases of this model.

    Car_man
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  • ghetto2315ghetto2315 Posts: 40
    Car_man, you've been a big help so far and have had my family and friends purchase many cars due to your info (mostly the Honda Civic).

    Can you help me on Residual, MF and any Dealer Cash for a Genesis COUPE 3.8 Track with Manual Transmission? Is it the same as 55%, .00134 and $1,000??

    Figuring a standard lease term of 36-months, however, I either need 15,000 or 20,000 miles per year.

    Thank you!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'm glad that I've been able to help you and your family out. Hyundai's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Genesis Coupe 3.8 Track MT with 15,000 miles per year are .00134 and 53%, respectively.

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

    When negotiating the capitalized cost for this car, make sure to take advantage of the $1,000 cash incentive that is available on leases of it right now.

    Car_man
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  • mgott23mgott23 Posts: 3
    2009 Genesis sedan lease questions v8 w/ everything

    purchase price 38030 (sticker 42100)

    3 years, 18000 miles per year , residual .45, money factor .00099,

    0 down not even taxes = 708 per month

    2500 down = 636 per month

    seems a little high to me? what is IR basded on MF? Any advise is appreciated
  • kingpcgeekkingpcgeek Posts: 985
    Money Factor * 2400 = Interest Rate
    .00099 * 2400 = 2.376%

    18,000 miles is costing you a lot, chances are you are prepaying for the miles at a discounted rate over 15,000 since most leases only go up to 15k. The residual of 45% is low for a "luxury" car. Hyundais have been and still are poor cars to lease because their residuals are so bad.
  • mgott23mgott23 Posts: 3
    thanks, I might try for 15K and see what it does. Do you think that at 18k it's a bad deal.
  • tjc78tjc78 JerseyPosts: 5,025
    Residuals have dropped on everything. Go look at the ES350 leasing board. Its carrying the same mid 40s residual values. Right now the only attractive leases anyone will receive is with low (subsidized) money factors that equal 1 - 2%. When I leased my Avalon back in 06 the residual was 56 or 57%. My Genesis was 49% at 12K/yr, however the money factor was low enough to make it worth it (.0006).

    1999 Chevy S10 / 2004 Merc Grand Marquis / 2012 Buick LaCrosse

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