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Hyundai Genesis Lease Questions

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  • 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: 38,518
    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: 38,518
    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: 38,518
    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: 38,518
    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

  • tjc78tjc78 JerseyPosts: 5,025
    mgott23,

    Reference Car_man's posts 144/145 I think the MF the dealer is quoting you is a bit high. Also, there is a rebate available on leases as well.

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

  • newsernewser Posts: 4
    thanks for the reply car_man....I am gonna try to get a fully loaded V6 genesis...another question is should I wait until december for a better deal on an 09? I know the pickins will be slim but who knows???
  • Hi Carman,
    I just joined after going to a dealership today in search of a Genesis Coupe. I have got an offer for the Genesis Coupe 2.0 Premium Automatic for 3500 Down and $329/month for 36 months with 15K miles.

    Is that a good offer or should I be paying less. I have already put down a deposit on the car as someone else almost purchased it. Please advice.
  • kingpcgeekkingpcgeek Posts: 985
    $3,500 is too much to put down on a lease. One purpose of a lease it to invest as little of our own money in the car as possible since you are renting it. It is also a bad idea to put that much down.

    Perfect explanation from leasecompare.com:

    Because you pay for the use of a vehicle during a lease, you should put as little money down as possible, up front. Although putting money down can lower your lease payments (by reducing your capitalized cost) in most cases it cannot be regained in the event of early termination due to a loss.

    For example, a customer once leased a Toyota 4Runner and put $3,000 down as a cap reduction. Five months later the vehicle was totaled in an accident. The client's insurance paid its portion of the lease payoff and Gap Insurance paid the balance. Our client walked away with only paying his insurance deductible but he did not get reimbursed for his initial down payment of $3,000. It was lost.

    The moral of this true story is to put as little money down as possible,ideally no money down. Here are some other things to consider:

    - Money down is taxable
    - Take the money you would have put down and invest it
    - Put your down payment in a savings account and use a portion each month to help make your lease payment
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    No problem newser. I don't think that the lease deals on the 2009 Genesis are going to get much better than they are right now. While manufacturers' cash incentives often increase as the model year progresses to help dealers unload their leftover vehicles, leases do not always become more attractive very late in the year. Vehicles' residual values, which are used to calculate the depreciation portion of lease payments, gradually fall as the model year progresses. At some point late in the model year vehicles' residuals have dropped by so much that manufacturers' usually find it too expensive to provide attractive lease programs on them and they pull the plug on their lease support. It is difficult to say exactly when this will happen, but I don't personally anticipate Hyundai's lease program on the Genesis Sedan getting much better than it is right now.

    Having said this, keep in mind that this is just an educated guess and no one knows for certain exactly what manufacturers will do with their future incentives programs.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi chipster2. I completely agree with kingpcgeek's helpful assessment that $3,500 is way too much money to put down when leasing.

    As far as the rest of this lease goes, it is difficult to tell how attractive this deal is without knowing what this car's MSRP and selling price are. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Let us know what these numbers are and I'm sure that either myself or another helpful community member will tell you what they think.

    Car_man
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  • jjonesjjones Posts: 5
    I have been working on a lease for the last 2 weeks. I live in Columbus, Oh. there are 3 Hyundai dealers in the area. The best offer I have received is $525.00 down and $525.00 per month for 36 months. The car is the V6 with Premium and Teck packages, stickers at $40150 also getting 15,000 miles per year and the Wing Badges for wheels and trunk. The last dealer I went to said get back to whoever gave you that offer and grab it. What do you think Car_Man
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi jjones. If another dealer told you that they couldn't touch this deal, chances are that it's pretty good. I would be happy to give you my opinion on it, but it would be easier for me to do so if you provided us with this car's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is difficult to tell how much of a discount the dealer is providing you with. I probably could back into an approximate selling price, but I don't know if the payment that you mentioned includes sales tax. It would be much easier if you told us the selling price. Once we have it, I'm sure that either myself or another knowledgeable community member will gladly tell you what they think.

    Car_man
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  • jjonesjjones Posts: 5
    Car_Man,
    I didn't talk price to the sales manager the car stickered for $40150.00 and all I was interested in was my down payment and monthly payment. The deal they gave me was $525.00 down which included my 1st month payment tax, title, etc and 35 more lease payments of $525.00 including sales tax. The lease is for 15000 miles per year. I did talk them into putting the wing badge kit on the wheels and trunk as part of the deal they said that the badge package was a $400.00 plus option. I have given them a deposit of $525.00 while they get the car from another dealer but I have not seen any of the lease paper work to know the selling price, money factor, etc. I won't see that until they get the car and I'm ready to take it home. The sales tax rate in my county is %6.75 Thanks for any advice you can give me.
  • kingpcgeekkingpcgeek Posts: 985
    As Car_man already said, one cannot evaluate a lease deal without knowing the selling price of the car.
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