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Hyundai Genesis Lease Questions

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  • Went to have a look at the only Genesis Coupe the local dealer had - a 3.8 GT in Silverstone. I was really looking for a 2.0T but ended up with this puppy instead. The figures I ended up with were;

    Sticker Price - $29,875

    Negotiated Price - $26595

    Additional costs (title and other fees) - $720

    Down payment - $720

    Lease duration - 36 months / 12,000 miles p.a.

    Residual - 54%

    Money factor - 0.00134

    Monthly payment - $347.88

    I'm really happy with the car and think it's a decent deal. Hopefully this will help someone else out.
  • Greetings Car_Man. have a curly one for you. Any ideas on what Hyundai dealers may charge each other for a dealer swap ?

    Cheers
  • Just in case Car Man isn't around for a while. It varies from dealer to dealer. When I worked for Infiniti, there usually wasn't a charge if we could get a decent car in return. At Subaru, we'd charge $200 to cover the cost of sending someone to get the swap cars.
    Ideally, you shouldn't have to pay anything.
  • Thanks cluedweasel. PS, that's a Top handle !
  • tjc78tjc78 JerseyPosts: 5,025
    My Genesis was a dealer swap and I was charged nothing extra. It came from a pretty good distance too.

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

  • Tks. Helpful to know. Will see what comes back in the next day or so.

    Cheers
  • Anyone have any idea what the lease rates are for the base model of the genesis 3.8 2010 in nyc area?
  • The current price on the 3.8 Auto (Base) appears to be $1500-1700 down with $308/month + TAX, Residual is $14782, MF .00134. That includes all fees, MV & Tags. These rates are also available in NJ & PA. Of course there are also plenty of dealers that will only offer the current program on the 4 pot Turbo which is not that appealing.

    Recall these cars came out last Feb so Hyundai could in theory change the model year in 3 months ! That being the case you'd expect deals to start improving.

    Cheers
    Kwaka
  • dulnevdulnev Posts: 652
    It is a really bad idea to lease Genesis because of the miserable residuals. You're going to get similar monthly payments if you lease a loaded BMW 535i because they have a roughly 60% residual on the 5 series.
  • dulnev, look at it this way. The 535 has a whopping downpayment and a high monthly outlay. One the Genesis Coupe, if you buy over 5 years with a 5% APR, your payments would be $471.78/month assuming $25k for the car (excl tax as you offset this in your 2010 return). Over 3 years you pay $16,984 and the remaining balance (Nov 2012) is $10,754. Residual is $14,782 so net cost incl interest is $12,956 (assuming you paid off and resold for the resid amount at the end of the 36 months). That means the vehicle has cost you $360/month over the 3 years. Leasing at $308/tax month (35 x $330) with $1700 down = $13,250 (i.e., $368/month @ 1700 down or $363 month with $1500 down). For $3-$8/month variance, I would be inclined to lease leaving me with the option to hand back or buy out after 36 months with no major cost difference.

    Brgds
    Kwaka
  • dulnevdulnev Posts: 652
    The 535 has a whopping downpayment and a high monthly outlay.

    I have NO idea what you mean by this or by the rest of your post. You don't have to put ANY money down if you don't want to when you lease a 535.

    When I advised against leasing the Genesis, it was not directed at the people who are likely to exercise the purchase option at the end of the lease. Majority of people don't. If you are like majority, and you are going to return the car at the end of the lease, then leasing Genesis makes no sense because you would be paying 50% or more of the car's cost over 3 years, as opposed to paying just 40% of the car's cost for a BMW 5 series. The comparison to the 5 series was because I was referring to Genesis sedan, not the cheaper Genesis coupe.

    Don't get me wrong, I'm not one of those people who scream that leasing is stupid. It is not in general. Leasing BMWs is quite smart because BMW subsidizes leases heavily. It is, however, stupid to lease vehicles with low residual value if you do not intend to purchase the vehicle at the end of the lease.
  • The current residual on a 3 year, 36,000 mile lease on a coupe is 54%. For 30,000 miles is 56%. Neither of those means you're paying for over 50% depreciation over 3 years.

    I'm at a bit of a loss as to why you are trolling this forum. Even with the higher residual and the rebates, based on the current MF, a 535 anywhere near the spec of my 3.8 GT would cost almost $760 a month to lease.

    If residuals are the be all and end all, why not go and get a Honda Insight. 70% residual for a 3 year / 12000 mile p.a. lease.
  • Dulnev. Would agree in some cases that the manufacturer sponsored leases can be pretty good. In the case of the BMW 535i sedan, you're looking at the following;

    $549*/month for 36 months which includes a $2,500 Holiday Finance Credit

    Vehicle Registered outside N.Y.
    • $549 First months payment
    • $3,500 Down payment
    • $550 Security Deposit
    • $725 Acquisition fee
    • $5,324 Cash due at signing

    As you can see that's a 'whopper' of a down payment. Based on NJ tax, (7%), that would cost me $20,560 in monthly payments on top for a total of $25,884 or an average cost of $720/month over 36 months. Having owned 4 BMW's in the past, and driven the Genesis Coupe, it is a different experience but in my opinion, not worth 100% more.
    The analysis provided earlier is useful when considering the purchase or lease of any vehicle. For example, it also interesting that an Infiniti G37x Coupe with Prem & Nav which MSRP's at $44825, would cost you approx $12,500 over 36 months based on 55% resid. That's approx $850 more over 3 years than what a base Genesis Coupe Auto would cost you which is a $26500 car and approx half that of the 535i ! That arises from the fact you can get the G37 Coupe currently for $5500 below invoice. Would always reccommend you do the analysis with amortization cacls before committing to any vehicle but final choice will ultimately be a personal one.
  • dulnevdulnev Posts: 652
    Again, you do NOT need to put any money down when leasing a BMW. What you quoted is a special deal advertisement (which is based on paying MSRP, by the way) that has little do to with what one can actually get from BMW. That downpayment is NOT required. Just go to a BMW forum on Edmunds or elsewhere and you will see what the current residual and money factors are, then go to the dealer and negotiate your best price (around invoice on the 535i these days), then just pay the required fees like first month payment and acquisition fee.

    You do not need to put any money down to get the best residual and buy rate money factor. You can greatly reduce the money factor by putting multiple fully refundable security deposits down, but that's your choice.
  • I would have loved a G37 coupe (I used to work for Infiniti), but the nearest dealer is a 6 hour round trip away, including a couple of mountain passes. The Genesis is 90% there which will do for me.
  • I still don't get what your point is? I did exactly that for the lease I calculated. Got the invoice price for the 535i, took another $2,500 off that and then calculated a lease payment based on that cap cost, minimum down and the current MF and residual. The resulting payment was over $760 per month. My Genesis Coupe is $348.
  • have to say, whilst a little narrow, the Infiniti appears to be a great car, great exhaust sound also. heard you can do about 150K in these without any worries from engine or transmission but would be intertested to know your view given your background.
    Will be making call this weekend and keen to ensure I'll be happy with whatever I get for the next 3 years...

    cheers
    Kwaka
  • The V6 is next to bullet proof. I've seen some with well over 200K on them. All they really need is oil and filter changes up to 100K
  • dulnevdulnev Posts: 652
    Couple things: you got a good deal since the Coupe residual is quite nice. I was commenting on the lease of the Genesis sedan, which has a very low residual at 48%.

    As far as your calculations of BMW lease payment, I don't know how you arrived at that price. I get a payment of $680 entering the actual residuals, money factors, and price that I can buy 535i for. Regardless, 535i is the correct comparison vehicle for the Genesis Sedan 4.6, not the Genesis Coupe. For that one 335i is a more appropriate benchmark. Sorry for confusing you...
  • dulnevdulnev Posts: 652
    Are you looking at the Genesis Coupe or Sedan? The Coupe is more comparable to the G37, while the sedan is more comparable to M35 or M45 depending on whether you are interested in V6 or V8. Both are fantastic vehicles, but V6 is a bit too weak for the heavy M.

    The price I can buy 2010 M45 has now dropped even further: $46,300 for the M45 with Technology package. That's $10,065 below MSRP and $5,600 below invoice! Unfortunately 2010 M45 will be arriving at dealerships 2-3 weeks from now.
  • Dulnev, confirm I am looking at the Coupe X. It's approx $9200 below MSRP (b4 tax).

    Cheers
    Kwaka
  • Tks. That's what I was hoping to hear.

    cheers
    Kwaka
  • Cluedweasel, Hyundai's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Genesis Coupe 2.0T Premium with an automatic transmission and 12,000 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 Hyundai is currently providing on leases of it.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Thanks wasabi911. Here's the information that you're looking for. Through January 4th, Hyundai's buy rate lease money factor and residual value for a 2010 Genesis Sedan V8 with 12,000 miles per year are .00108 and 48%, respectively.

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

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi thinkingtl. Hyundai's current buy rate lease money factor for a 36 month lease of a 2010 Genesis Coupe 3.8 Grand Touring with an automatic transmission is .00134.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I am looking at a Genesis Sedan.

    09/10 Sedan with Tech Package
    8,000 miles a year
    $0 down
    36 months

    What should I expect to pay in a lease?

    I know the number may vary based on the negotiations... wondering if anyone has a baseline or can share the money factor and residuals at the usage / duration I listed.

    Merry Christmas!
    Chris
  • :surprise: Did you write the mileage allotment right?!?!? 8,000?!?!?
  • Yeah, I dont do a whole lot of driving... not even sure if they do 8k mileage agreements.
  • Hi atlspears. The last time that I looked into it, the lowest mileage allowance that Hyundai Finance offered on leases was 12,000 miles per year. You might be able to get them to do a 10k lease, but 8k is pretty low.

    This car's lease payment will vary depending upon what its MSRP and selling prices are. I would be happy to work up a payment on it for you if you provide me with these numbers.

    For now I can tell you that Hyundai Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Genesis Sedan V6 with 12,000 miles per year are .00175 and 55%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • any current numbers for a genesis coupe 2.0t base, manual transmission?

    Also, as an aside, i am having quite a bit of trouble calculating a potential lease payment...

    ive used an online calculator but am still confused,

    i know the -

    MSRP of the car
    potential negotiated price
    MMF
    residual

    my question is when do i add in things like -
    tax
    down payment
    fees from dealer
    title/registration fees
    etc...

    thanks :)
This discussion has been closed.