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Hyundai Genesis Lease Questions

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  • The money down issue I understand; I will never put that kind of money down on a lease; just 1st month and inceptions. The negiotiated price 34,453 I am concerned about. Payment seems pretty high for this car; I think the residual stinks. the MF is .00019 and residual is .46

    Your thoughts?
  • 36 months / 12000 miles p/a.

    Currently have 4 dealers giving me OTD prices of $320 to $330/month incl tax, with $1500 down (incl 1st month payment) , residual $14782. Just about to do the deal but thought I'd check if anyone else has done any better recently ?
  • I went to lease Hyundai Genesis 3.6 w/ preimum + pkg, but I have 3 months remaining on lease at $400. I qualify for pull through program w/ nissan, but Hyandai says i have to eat the payments which ruins deal. If I wait for 2010 to arrive in October, will the higher residual help my numbers? Do you think they will run a better lease program? The delearship tried w/ a sale price of $33,600, which from my research was a fair price. However to get my payment to $470, the $ down was just stupid. Please advise.

    THanks!
  • Hi eoseire. Hyundai's September buy rate lease money factor and residual value for a 36 month lease of a 2010 Genesis Coupe 3.8 Tack with an automatic transmission, navigation, and 12,000 miles per year are .00152 and 53%, respectively.

    I don't recall ever seeing a Hyundai Motors Finance lease with only 10,000 miles per year, but if it offers that mileage allowance, its residual values for it are likely 1% higher than its 12k resids.

    When negotiating your lease on this car, make sure to take advantage of the $1,000 cash incentive that is currently being provided on leases of it.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hey carman56. Nice name ;). The 2010 Genesis Sedan will almost certainly have higher residual values when it is introduced than the 2009 version currently has. The problem is that one really cannot tell whether these higher residual values will lead to lower lease payments because we don't know what sort of money factors or lease cash Hyundai will have on the 2010 Genesis Sedan at launch. I personally doubt that Hyundai will offer more more attractive payments on the '10 model, but at I said it is difficult to say.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • I was speaking with the finance dept over at Rick Case Hyundai and he had mentioned when the Genesis sedan originally came out they had an aggressive program with incentives and higher residuals. I know this is speculation, but in your opinion, do you think they will run programs like this again? When will 2010 come out; end of Sept?

    Thanks,
  • I'd love to understand the math behind that. Assuming the car costs ~$33K, your residual assumes $18K of depreciation. But the total amount of your payments over three years is ~$12K; where are they getting the missing $6K plus interest? Are they really offering this car for a sale price below $30K?
  • I recently saw a lease deal from hyundai. its a 399 a month deal and requires a $2600.00 down and the first months 399 pmt. What it doesn't say is if that includes tax and Lisence. This is a deal in California...so I don't know if you might know if it does include Tax and Lic

    any help would be great....thanks Car man
  • Jim,

    Not sure where the $33k is coming from, are you confusing this with the Track ? Would clarify this is a base Genesis Coupe 3.8 Auto. The purchase option I have is $24,449 on the car ($1600 below invoice, allowing for the destination charges which is being matched by all dealers I contacted).
    Does this answer your question ?

    Brgds
  • Jim,

    just realised you must be referring to the Sedan and not the Coupe.

    Brgds
  • Car_Man or anyone else, I need your help. I am seriously considering leasing a 2009 V6 Sedan. The breakdown from the dealer is as follows:

    Cash Option
    Vehicle Price: $37,726.50
    DMV Fees: $519.75
    Documentation Fee: $45.00
    Tax: $3,112.44
    Amount Due: $41,403.69
    Rebate: $1,000.00
    Balance Due: $40,403.69

    Lease Options - 15K miles/yr
    Out of Pocket 36 mos.
    $3,000.00 $539.33

    Money factor is .00019 and 15k miles per year is 18,081- residual with $3,000- dwn and $1,000- rebate from factory

    This deal is in SoCal. How does it shape up?

    Thank you!
  • Exactly - sorry about that.
  • Hey Car Man,

    I am looking at helping my local Hyundai dealership offload their last remaining V6 Genesis w/ Tech package in to my driveway :)

    What is the MF and Residual on a 36/mo 15K miles/yr lease?

    Are there any other incentives available for the '09 model? From what I've seen on this board, people are suggesting a negotiated selling price of under $35k for the '09 3.8 w/ Tech.

    - pv
  • Sales of the Genesis must be very slow because all the dealers near me are blowing out base models on a 36 month lease for $369/month.

    It's a no money down sign and drive, too.

    This is for the Sedan, not the Coupe.
  • Mike,

    Thanks for the heads up. I'm going to be traveling quite often so I think I can make good use of the navigation included in the Tech package. That base model lease sounds quite nice though.

    What area are you in?

    I'm in the Bay Area, CA. (coincidentally I know a Mike Martin in the Bay Area who is in the car business)
  • Can anyone tell me the lease rates for a 4.6 w/Tech for 36 mo + 15k Miles? I'm in NYC. By "lease rates" I just was looking for MF and Residual. I just got quoted .7 as my MF and 45% residual. Does this sound right?
  • Mike,

    Thanks for the heads up. I'm going to be traveling quite often so I think I can make good use of the navigation included in the Tech package. That base model lease sounds quite nice though.

    What area are you in?

    I'm in the Bay Area, CA. (coincidentally I know a Mike Martin in the Bay Area who is in the car business)


    PV, right now I'm in LA. If you scour dealer print ads, you'll see Hyundai is trying to move the 09 Genesi with lots of incentives to the dealers on leases.

    They won't deal as much on the tech packag optioned units though.
  • Does anyone know what the current lease incentives on the Genesis that Hyundai is offering now?

    Looking at maybe doing a lease now if numbers are right (especially with my trade-in) or waiting as originally planned until next Summer.
  • Thats a good deal; what and where is this dealership? I have been looking over the past 2 months and the south Florida dealers are not coming anywhere close! They offered on a base model $399 plus tax w/ $3000 down on base model. I said I wanted a premium plus model and they didn't have one on the lot. they have told me there was only 11 left in the U.S? Is this BS?

    I am contemplating waiting for 2010 as I hope they will run a new program on lease. The 2009's in v6 are few and far between.
  • Not sure where you are in SFla, but I just leased an 09 Genesis (black/black) Prem Plus (added wing package/center caps) at Napleton in West Palm Beach this past weekend, they had 1 more 09 V6 Prem Plus model on the lot and a bunch of V8 Techs. I believe Delray Hyundai also has 2 V6 Prem Plus cars on lot.
    Lease details:
    MSRP $36,130 (incl. trunk tray, IPod cable, excludes wing pkg)
    Net Cap Cost $32,708 (after $1200 down pmt, $1000 lease cash, plus the wing pkg)
    Term 36 mo
    Miles 15k/yr
    Resid 45%
    MF .00019
    Total O-O-P $2,700 ($1200 down+dealer fee+tag+1st pmt)
    Pmt $467 + tax
  • Hey carman56. I think that what you see is what you get with Hyundai's incentives on the Genesis at this point. While anything is possible, I personally don't anticipate them making any significant improvements to this car's lease program in the near future.

    Car_man
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    Disclaimer: It is impossible to predict what automakers will do with their future incentive programs with 100% accuracy so don't blame me if a killer enhancement comes out tomorrow :).
  • Hi newser. Manufacturers' official advertised lease payments never include local taxes or fees. You would have to add whatever sales tax and license fees that CA charges you to this deal.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi toottoot. The money factor and cash incentive that you mentioned in your post look great. They're right in line with Hyundai's current incentives for this model.

    That leaves this car's selling price as the most important remaining variable. It's excellent that you know what that number is and mentioned it in your post, but we don't have any reference point to compare it to. It would be much easier to tell how attractive this price is if we knew what this car's MSRP or dealer invoice price are. Let us know and I'm sure that either myself or another helpful community member will be happy to tell you what they think.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hey projectvirus. Hyundai's September 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 45%, respectively. Hyundai is currently providing a $1,000 cash incentive on leases of this car.

    Car_man
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  • Hi gponick. Hyundai's September buy rate lease money factor and residual value for a 36 month lease off a 2009 Genesis Sedan V8 with 15,000 miles per year are .00090 and 44%, respectively. When negotiating your lease on this car, make sure to take the $1,250 cash incentive that Hyundai is currently providing on it into account.

    Car_man
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  • Hi bmb1767. Hyundai is currently providing lease support on both the Genesis Sedan and Coupe. If you describe the car that you are interested in I would be happy to give you an idea of what its current lease program is like.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Has anyone heard what Hyundai are offering on the Genesis Coupe ? It was $1000 for Sep but would like to know if it's been tweeked for Oct.
  • rj123456rj123456 Posts: 128
    That MF is good at .00019 (less than 0.5%!) but a 44% residual ouch...
  • kyrogokyrogo Posts: 4
    I am also curious as to what kind of incentives Hyundai is offering this month. I'm looking to buy a Genesis Coupe this month (either the 3.8 GT, or 3.8 Track with or without navi). Also, is this rebate incentive applied on top of the negotiated price? I have Associate pricing on Hyundai's, so I'm wondering if this $1,000 can be applied on top of that.

    Also, Carman, could you please post the current lease rates for these models? I appreciate your assistance.

    Thank you,
    Kyle
  • For me it was part of the final negotiated lease price. I'm not sure whether it also applies to an outright purchase. It may just be an offset by the manufacturer as you can't take advantage of the sales tax rebate (valid to year end) on a lease.

    Good luck.
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