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2016 Hyundai Genesis Lease Questions

SpineDoc777SpineDoc777 NJPosts: 7
edited January 2016 in Hyundai
Putting out some feelers and this is one of the responses I got. It's a starting point, what do you guys think? Where can I haggle with them. I don't mind a high residual as I'll drive it and give it back in 3 years, I plan on leasing forever and am more concerned with the monthly payment. It's interesting, many dealers run away when I ask them for these numbers and it's like pulling teeth. This is for NJ. I also can get some extra rebates as I have an Audi for the conquest rebate OR I also lease a 2016 sonata for my wife for the loyalty rebate, too bad they don't stack from what I understand.

I believe I can get the MSRP down 2k or so, the MF seems to be decent. I'd prefer the residual was higher to lower my payment though.

2016 Hyundai Genesis White with Black Interior Signature Package only.
12k/year 36month lease
Vehicle Price: $43,094
Incentives: $2,500 Lease Cash
Cap cost reductions (please break down):
Customer cap cost reduction: Assuming I put down $2000
Net cap cost: $41,975
Residual %: .56
Money Factor: .00110
TTL: Tax $1500.31 ($7.50 NJ State Tire Tax $37.50 = 5 x $7.50 4 Tires + Spare )
Motor Vehicle (estimated) $400 -- If MV cost is less than $400 we will refund the left over funds.

Any additional fees such as documentation, etc, please break down):
DOC Fee $338
Monthly fee: $541.06 All information based on Tier 1 Approval

FYI - there is an Additional Competitive/Valued owner Incentive that I have not included but wanted to make you aware of. This Incentive is based on what you are currently driving. If you qualify there is additional savings available to you.

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Comments

  • kyfdxkyfdx Everywhere, USAPosts: 128,067

    Putting out some feelers and this is one of the responses I got. It's a starting point, what do you guys think? Where can I haggle with them. I don't mind a high residual as I'll drive it and give it back in 3 years, I plan on leasing forever and am more concerned with the monthly payment. It's interesting, many dealers run away when I ask them for these numbers and it's like pulling teeth. This is for NJ. I also can get some extra rebates as I have an Audi for the conquest rebate OR I also lease a 2016 sonata for my wife for the loyalty rebate, too bad they don't stack from what I understand.

    I believe I can get the MSRP down 2k or so, the MF seems to be decent. I'd prefer the residual was higher to lower my payment though.

    2016 Hyundai Genesis White with Black Interior Signature Package only.
    12k/year 36month lease
    Vehicle Price: $43,094
    Incentives: $2,500 Lease Cash
    Cap cost reductions (please break down):
    Customer cap cost reduction: Assuming I put down $2000
    Net cap cost: $41,975
    Residual %: .56
    Money Factor: .00110
    TTL: Tax $1500.31 ($7.50 NJ State Tire Tax $37.50 = 5 x $7.50 4 Tires + Spare )
    Motor Vehicle (estimated) $400 -- If MV cost is less than $400 we will refund the left over funds.

    Any additional fees such as documentation, etc, please break down):
    DOC Fee $338
    Monthly fee: $541.06 All information based on Tier 1 Approval

    FYI - there is an Additional Competitive/Valued owner Incentive that I have not included but wanted to make you aware of. This Incentive is based on what you are currently driving. If you qualify there is additional savings available to you.

    We don't have the Hyundai numbers this month.

    We could check the calculations, if you give us the MSRP

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • SpineDoc777SpineDoc777 NJPosts: 7
    edited January 2016
    I went back in today and almost walked out with a deal, but held off to think about it.

    2016 Genesis AWD with signature package
    MSRP 45769
    agreed on price 40,769
    MF 00046
    Residual 58%
    With 2k down $400/month, with nothing down $454/month. No other fees/charges. I forgot to ask about MSDs.

    But what is confusing the heck out of me is the 2015 GS350 I test drove that isn't much more expensive.

    2015 GS350 AWD with F Sport package, it's a demo and has 1,000 miles on it
    MSRP 58,727
    We didn't formally agree on a price, but the dealer cost was about 55k and they seemed ameniable to applying an existing 4500 lease cash against that, so I'm assuming around 51k.
    MF 00049
    Residual 56%
    With 3k down $409/mo, with nothing down $500/mo. With 6 MSD's (they ballparked about $2800) that would lower the payment about $28.

    Man what a freakin hard decision. The Lexus is MUCH tighter and a much better handling/driving car IMO, but the Genesis is much comfier and has more options, but man the steering is very sloppy.
  • I'm pretty sure I'm going to bite the bullet on the Genesis. The dealer called me back and let me know the steering wheel has 3 adjustments for stiffness. They also said the 2k included the 1st month payment. I'll ask about the net cap cost, but I would assume they will apply the rest of the 2k to the TTL and not the cap cost, so my net cap cost is most likely the full 40k which is 3k below invoice so seems like a decent deal. Hyundai doesn't do MSD's according to them.

    What do you guys think? The Lexus is one year older, 1k miles older, is the wrong color but will probably have a much better resale value, which doesn't matter since it's a lease unless I decide to buy it. I just hope the Genesis deal is decent.
  • MichaellMichaell ColoradoPosts: 121,597
    Get the car you like most. Insane deals on the GS at the moment.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Michaell said:

    Get the car you like most. Insane deals on the GS at the moment.

    I'm pretty set on the Genesis, what do you think of the lease deal? Is it a keeper?
  • MichaellMichaell ColoradoPosts: 121,597

    Michaell said:

    Get the car you like most. Insane deals on the GS at the moment.

    I'm pretty set on the Genesis, what do you think of the lease deal? Is it a keeper?
    Seems like a solid deal.

    FWIW, my Elantra GT has the adjustable steering feel as well.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Michaell said:

    Michaell said:

    Get the car you like most. Insane deals on the GS at the moment.

    I'm pretty set on the Genesis, what do you think of the lease deal? Is it a keeper?
    Seems like a solid deal.

    FWIW, my Elantra GT has the adjustable steering feel as well.
    Thanks, I forgot to mention that 2k includes first month payment.

    Also the dealer stated Hyundai financing did not accept Multiple Security Deposits. Any idea if that is true? I'm going to ask the f inance manager this week, but just wanted to go in armed with information.
  • MichaellMichaell ColoradoPosts: 121,597
    Get the car you like most. Insane deals on the GS at the moment.
    I'm pretty set on the Genesis, what do you think of the lease deal? Is it a keeper?
    Seems like a solid deal. FWIW, my Elantra GT has the adjustable steering feel as well.
    Thanks, I forgot to mention that 2k includes first month payment. Also the dealer stated Hyundai financing did not accept Multiple Security Deposits. Any idea if that is true? I'm going to ask the f inance manager this week, but just wanted to go in armed with information.
    Correct - Hyundai does not have MSD

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Thank you for all the help
  • Brotha man I have been lurking around the Internet dying to find a deal on this exact Genesis but in black.  

    I live in NJ (Edison) 

    Where did you go to get that deal?? 
  • Any figures and lease cash on the '16 Genesis for Feb (AWD, Signature and Tech or Signature, Tech, Ultimate packages), 36 month/12k mile per year lease, NY metro area)? Thanks!
  • I am also looking for residuals, money factor, and lease cash on a 2016 Genesis 3.8 AWD with Signature package. 36/12k, Indianapolis, IN.
    Thank you!
  • kyfdxkyfdx Everywhere, USAPosts: 128,067
    carfan74 said:

    Any figures and lease cash on the '16 Genesis for Feb (AWD, Signature and Tech or Signature, Tech, Ultimate packages), 36 month/12k mile per year lease, NY metro area)? Thanks!

    .00059 MF and 57% residual. $3000 lease cash.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • kyfdxkyfdx Everywhere, USAPosts: 128,067

    I am also looking for residuals, money factor, and lease cash on a 2016 Genesis 3.8 AWD with Signature package. 36/12k, Indianapolis, IN.
    Thank you!

    .00059 MF and 57% residual. $3000 lease cash.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • kyfdx said:

    I am also looking for residuals, money factor, and lease cash on a 2016 Genesis 3.8 AWD with Signature package. 36/12k, Indianapolis, IN.
    Thank you!

    .00059 MF and 57% residual. $3000 lease cash.
    Awesome! Knowledge is power when leasing.
    I will see if I can make a deal on a new Genny at the end of the month.
    Thanks again kyfdx!!

  • Looking for MF and Residual for AWD 3.8, No package in NJ. Also, confirmation of conquest and lease cash for $1k and $3k respectively, and can they be combined? Thanks
  • kyfdxkyfdx Everywhere, USAPosts: 128,067
    czar0013 said:

    Looking for MF and Residual for AWD 3.8, No package in NJ. Also, confirmation of conquest and lease cash for $1k and $3k respectively, and can they be combined? Thanks

    .00059 MF and 57% residual for 36/12. $3000 lease cash.

    No info on conquest cash.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • mmedicmmedic Posts: 15
    Does anyone have numbers for 2015 3.8 w/ Signature for 36/12? And also 2015 5.0?
  • kyfdxkyfdx Everywhere, USAPosts: 128,067
    mmedic said:

    Does anyone have numbers for 2015 3.8 w/ Signature for 36/12? And also 2015 5.0?

    Please ask 2015 Genesis questions, here:

    http://forums.edmunds.com/discussion/18992/hyundai/genesis/2015-hyundai-genesis-lease-questions#latest

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Hi Guys
    Please tell me what you think of this deal on a 2016 Genesis 3.8 RWD with Signature pkg.
    Black with black int

    12K per yr 36 mo

    Pmt of $476 per month with only 2 pmts down for a total of $952 due at signing

    Waiting to hear back on what the residual is and money factor

    Thanks for your help
  • kyfdxkyfdx Everywhere, USAPosts: 128,067
    bamas16 said:

    Hi Guys
    Please tell me what you think of this deal on a 2016 Genesis 3.8 RWD with Signature pkg.
    Black with black int

    12K per yr 36 mo

    Pmt of $476 per month with only 2 pmts down for a total of $952 due at signing

    Waiting to hear back on what the residual is and money factor

    Thanks for your help

    .00045 MF and 56% residual. $3000 lease cash

    Need to know the MSRP and CAP cost to check the calculations

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Thanks.
    Sticker MSRP is $43,900 and amount financed on lease is $38,800
  • MichaellMichaell ColoradoPosts: 121,597
    bamas16 said:

    Thanks.
    Sticker MSRP is $43,900 and amount financed on lease is $38,800

    Those prices, along with the lease numbers above, give a payment of $423/mo + tax.

    $476/mo seems high - what state and tax rate is this?

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • My deal on a 2016 Genny, I think I will finalize tomorrow:
    2016 Genesis 3.8 AWD, Signature Package, Empire State Gray, Black Leather
    36 month lease / 12,000 miles per year
    MSRP: $46,245
    Purchase Price: $42,229
    Minus Rebates: $3,000 lease cash, $1,000 conquest, $500 dealer coupon
    Plus Fees: Sales Tax on rebates: $315, Doc. Fee: $199, Title & Tire Tax, $45.25
    $410 per month(including 7% Indiana sales tax)first month payment only due at signing.
    Thanks again for all of the lease rate info.!!
  • MichaellMichaell ColoradoPosts: 121,597

    My deal on a 2016 Genny, I think I will finalize tomorrow:
    2016 Genesis 3.8 AWD, Signature Package, Empire State Gray, Black Leather
    36 month lease / 12,000 miles per year
    MSRP: $46,245
    Purchase Price: $42,229
    Minus Rebates: $3,000 lease cash, $1,000 conquest, $500 dealer coupon
    Plus Fees: Sales Tax on rebates: $315, Doc. Fee: $199, Title & Tire Tax, $45.25
    $410 per month(including 7% Indiana sales tax)first month payment only due at signing.
    Thanks again for all of the lease rate info.!!

    Pretty good deal. Enjoy the new Genesis!

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Dealer came back with residual of 56% and .00045 money factor. They also came down on
    payment to $445
    Alabama sales tax
  • MichaellMichaell ColoradoPosts: 121,597
    bamas16 said:

    Dealer came back with residual of 56% and .00045 money factor. They also came down on
    payment to $445
    Alabama sales tax

    If you're comfortable with the selling price, then there is no reason not to go forward with this deal.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Sounds like Sharkyziff got a better deal on his AWD but I will keep working on this dealer to see if I can
    do better on mine too. Thanks for all the good input. It is so helpful to someone like me that is not versed in all the ins & outs of leasing a Genesis
  • MichaellMichaell ColoradoPosts: 121,597
    bamas16 said:

    Sounds like Sharkyziff got a better deal on his AWD but I will keep working on this dealer to see if I can
    do better on mine too. Thanks for all the good input. It is so helpful to someone like me that is not versed in all the ins & outs of leasing a Genesis

    I would also suggest reaching out to a second dealer, and get them to compete against one another for your business.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Thanks, will do
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