Hyundai Genesis Lease Questions

kyfdx

Ask your Genesis lease questions here!

chicagotouareg

Hey Carman:

I am in the market for a V6 Hyundai genesis and want to take advantage of the 24 month lease incentive. What is the money factor and residual on this current lease incentive from Hyundai for the 12,000 miles per year.

Thanks!!

chicagotouareg

Car Man:

I am in the market for a new V6 Hyundai Genesis Lease. They currently have a subsidy for 24 months lease with 12,000 miles. What is the money factor and residual for this vehicle? Thanks for your help!!

CarMan@Edmunds

Hey chicagotouareg. Hyundai Finance's current money factor for a 24 month lease of a 2009 Genesis V6 is the lowest possible .00001. Its residual value for a 24 month, 12,000 mile per year lease is 62%. When negotiating your lease on this car, make sure to take advantage of the $500 cash incentive that Hyundai is providing on leases of this model right now.

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sandy25

Car-Man

A quote I got August had a residual of 66% and money factor of .00080. Comparing this to the 62% and .00001 you say is the current deal, would the monthly payment be about the same?

And help me with my math...Edmunds has a formula for determining the monthly interest cost of various money factor rates: Cap cost plus lease-end value times the money factor. Using this formula, I tried to compute the monthly interest cost at .00001 on $56973 and got $.56973. Could that be correct? Fifty six cents?

kyfdx

That's it... $0.56 per month.. finance charge

Basically, a zero interest loan..

gfish49

What would the residual value be on a 24 month lease at 20,000 miles a year? I assume the money factor would be the same. Thanks!

CarMan@Edmunds

Hi gfish49. The highest residual value percentage that I have seen Hyundai Financial offer is 15,000 miles per year. The residual for a 24 mo., 15k lease is 62%. If you need to drive more than that, you will likely have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the scheduled end of your lease and have to pay an excess mileage penalty.

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vishnus11

Fantastic car and right now, a great lease deal - I'm in the process of looking for the right numbers.

1. There are some contradictions above. Is the residual 62% for 12k/year or 62% for 15k/year?
2. I spoke to my dealer and was told that the residual is the SAME for both loaded (Genesis V6 with Tech) and base V6 Genesis's, but does anyone have something that says otherwise?
3. How much are the fees that need to be paid in this lease (acquisition fee, disposition, etc.)? Are they negotiable?
4. What would be considered a good deal on a Genesis V6 with Tech (MSRP 40k)? I personally feel that $700 down, $510 + tax, would be a good, doable, agressive deal, especially when you factor in the $500 cash incentive they are offering right now.

If the $700 down cancels out all the lease inception fees (lets assume fees are negotiable and come out to be $700), you would have to negotitate a price on the vehicle of 37000. Invoice on this vehicle is 37000 minus the $500 cash incentive, so invoice is really $36800. So the dealer is getting $200.

Not a bad deal in my opinion, especially if you plan on keeping the car. This is an excellent way to get the car, whilst paying NEGLIGIBLE interest.

Experts on here - any thoughts? Advice/Insight appreciated!

sandy25

I'm not an expert...but stopped into a dealer yesterday and got this quote on a V6 with Nav (I didn't try and negotiate because I don't want to do anything until 11/30 when my current lease expires but from the conversation there was wiggle room):

Up front: lst month, Acquisition fee and DMV fees....$1244
$591 inc sls tx x 23 payments

This is in the NY metro area (Ct)

mmoreno1978

Seems very high.

I too am looking at this car next year when my Infiniti M and BMW 535 go back. (I hate my 5 series!!!!!)

I am looking at the V8 and looking to stay at $500 a month for 18,000 miles with only basic fees.

carnaught

On the car with the premium and tech pkgs. and a sticker of just under $40000, I was quoted $2100 down and $499/mo. plus TTL. This is an okay, not great deal, IMHO.

wgr3

1. The 24 month residual @ 12k miles/yr is 63% and at 15k miles/yr it is 62%. The acquisition fee is $595 and not negotiable as it is a charge from Hyundai Finance;

2. The residual is not the same for both the V6 & V8 models. The residual for the V8 is 60%.

3. The additional fees in a lease include the Acquisition Fee mentioned above and the security deposit which may be waived at a higher lease factor. The current lease factor for excellent credit is .00001 or 0.024%. The security deposit is refundable at lease termination, and equals the monthly payment rounded up to the nearest $50. ALL fees, taxes, etc. may be rolled into the monthly payment. The only money required at the beginning of the lease is the 1st months payment, including the secuirty deposit(if you pay a higher lease factor);

4. The cash incentives are applied to the cap cost on behalf of the customer and do not reduce the invoice. A V6 with the tech pkg has an invoice of $37563, and the monthly payment at our dealership (Schaefer & Strohminger 5665) up front would be $606.56, including all taxes, tags and fees for 24 months.

daviderle

I think I am getting very bad deal on a V8; any help would be greatly appreciated...

Here is the deal (some numbers are rounded up);

12k miles / year with 24 months lease.
Price $42100 ($100 dollars more)
Doc / Acquisition / License fees: $1000 (I know I have to pay this!?)
Gross Cap $43.100
Down $2200
Rebate $500
Amt applied up front $900 (Not sure what that is?)
Total Cap Reduction $1,800
Net Cap cost $41,3k
Residual %60 (Not sure if this supposed to be 62% or 63% for V8)
Money Factor .00001
Upfront charges $170 (not sure what that is?)
Base monthly $670 + Taxes = $715 (Which is a lot higher than what I was expecting)

I was expecting around $590 (including taxes!!) not sure how we got to $715??

Thanks for your help...

carnaught

I think I am getting very bad deal on a V8

I agree with you. You're putting down a lot and paying high monthly fees. I'd walk on this deal or try negotiating on the 6 cylinder. I was quoted $2200 down and $499/mo. plus fees (TTL) for the loaded 6 with luxury and tech. packages.

(For less than what you were quoted you can lease a loaded 5 series BMW, FWIW.)

viperz4

I am considering leasing a 3.8L Genesis with either base or premium package (haven't decided yet). Does anyone know how much room for negotiation we have from the MSRP? Hyundai is advertising 399/month lease for base package with 2199 down but does not include tax. Any one has any recent experiance they could share?

Thanks!

sandy25

viperz4 - I checked the v-6 with Premium today with several dealers and the opening asking price seems to be $530 /month (incl tax) with about $1000 out of pocket up front for dealer fees, 1st month payment and registration. The $595 acquisition fee was rolled into the monthly payments. I think $500 would be realistic. This is in the Northeast where inventories are slim and so dealers have that advantage.

daviderle

(For less than what you were quoted you can lease a loaded 5 series BMW, FWIW.)

Changed dealers and I think I did o.k... I got the V8 tech , 2199 down (everything including first month payment) and $605 a month, I think I could have got few more $s, but at some stage there is a price of driving the first V8 in the state (or at least that is what I was told) :shades: ...

automan999

Please can you tell me the new residual figures for 15,000 mile, and money factor on the Genesis. I think they changed on 11/4 to 27 months, 62%, and 0.00027.

Thanks

CarMan@Edmunds

Hi automan999. Hyundai's current buy rate lease money factor and residual value for a 27 month lease of a Genesis V6 with 15,000 miles per year are .00027 and 58%, respectively. When negotiating your lease on this car, make sure to take the $500 cash incentive that is available on it into account.

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chicagotouareg

I pulled the trigger on a 3.8 V6 with Premium package. 24 month lease 0 up front, just first months lease payment. Total monthly payment including tax $440.00. 12,000 miles per year. Overall good deal compared to the other crazy dealers and their inability to work the hyundai incentives here in Chicago.

xxoz

If I was interested in the 27 month lease with either 18k or 20k mile allowance per year, can anyone give me the necessary values for this?

I am considering a 3.8 V6 with Tech Package.
Thank you!

skylab

Car_man, could you please provide the current 12k-a-year money factors and residuals on the V8 Genesis at 24 and 27 months? Many thanks.

sandy25

Car-man - Is the .00027 money factor and 58% residual for a 27 month lease the same for a V6 with Premium package as opposed to a V6 with Tech?

CarMan@Edmunds

Congrats on getting your new Genesis, chicagotouareg. Thanks for taking the time to share the details of your lease. If you'd like, you can hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well. Enjoy your new ride :shades: !

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CarMan@Edmunds

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

Hyundai Finance's current buy rate lease money factor and residual value for a 27 month lease of a 2009 Genesis V6 with 15,000 mils per year are .00027 and 58%.

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CarMan@Edmunds

Hi skylab. Hyundai Finance's current 27 month buy rate lease money factor and residual value for a 2009 Genesis V8 with 12,000 miles per year are .00027 and 56%, respectively.

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CarMan@Edmunds

Yes, sandy25, they are the same for all V6 models.

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sandy25

After negotiating and agreeing on a price, when I showed up to sign the lease I was then told about a disposition fee of $400 due at lease end if I didn't purchacde the car. Do you folks have this fee in your leases?

CarMan@Edmunds

Hi sandy25. Many banks, including Hyundai Finance, charge disposition fees at lease-end. This is a standard charge that's levied by the bank that you are leasing through. Individual dealers cannot waive it.

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toyoman8

Hi everyone, If I wanted to lease genesis base model for 36x12k can I do it? or It has to be a 27mos lease?

Also assuming the Invoice price what would be my mos payments with $3000 down 36mosX12k yeasr?

jeffal

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.

jeffal

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.

zephyr2

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.

chicagotouareg

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

CarMan@Edmunds

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.

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vlad92

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

george66

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

kyfdx

The residual percentage is multiplied by the MSRP, not the selling price...

george66

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

kyfdx

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

CarMan@Edmunds

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: !

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CarMan@Edmunds

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.

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webbmeister25d

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

keithl

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.

roberts10

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.

sweendogy

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..

CarMan@Edmunds

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.

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CarMan@Edmunds

Thank you very much for the kind words, sweendogy.

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aohurst

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?

aohurst

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?