2016 Hyundai Genesis Lease Questions

scatts

Hi,
I want advice on best leverage for negotiations for a lease. To avoid getting the lease cash muddled up in the negotiation of purchase price, I assume it is best to negotiate the price without mentioning a lease. After price is settled, then mention lease and expect dealer to make additional discount for amount of lease cash. Is this the right approach. I guess same could be said for Conquest Incentive??

Planning on 2016 AWD Ultimate in Denver area.

Thanks,
Steve

Michaell

scatts said:

Hi,
I want advice on best leverage for negotiations for a lease. To avoid getting the lease cash muddled up in the negotiation of purchase price, I assume it is best to negotiate the price without mentioning a lease. After price is settled, then mention lease and expect dealer to make additional discount for amount of lease cash. Is this the right approach. I guess same could be said for Conquest Incentive??

Planning on 2016 AWD Ultimate in Denver area.

Thanks,
Steve

Yep, that's the best way to approach it. Or, use the knowledge of the lease cash make your best offer.

acurat

Steve, that is one good approach, though it may backfire in terms of your relations with that dealer. They generally don't like surprises from the customer (yet most have no problem posing surprises of their own!). You could also do the maximum transparency approach. Get a few deal offers to consider, making clear that you are shopping on price and not ready to commit. This, plus online research, should let you know the bottom line price including any incentives. Then just phone the Internet manager at your preferred dealer and put your cards on the table. Worked for me. Especially effective on the last day of the month or quarter. Best of luck.

igota350ztt

kyfdx said:

Hello,

I'm also looking for April MF and Residual numbers, specifically in Pennsylvania for a 2016 AWD with ultimate package, 12/36 and 15/36. Also if there are any incentives (I don't own a hyundai or "competitive" vehicle). Thanks in advance!

.00046 MF and 605/58% residual. $2600 lease cash.

Thanks for the info.. I'm curious, is the lease cash something like dealer cash, in that it isn't an advertised incentive? Reason I ask is I don't see anything on their website about the 2600.. 

kyfdx

igota350ztt said:

kyfdx said:

igota350ztt said:

Hello,

I'm also looking for April MF and Residual numbers, specifically in Pennsylvania for a 2016 AWD with ultimate package, 12/36 and 15/36. Also if there are any incentives (I don't own a hyundai or "competitive" vehicle). Thanks in advance!

.00046 MF and 605/58% residual. $2600 lease cash.

Thanks for the info.. I'm curious, is the lease cash something like dealer cash, in that it isn't an advertised incentive? Reason I ask is I don't see anything on their website about the 2600.. 

Yes.. its a factory to dealer incentive

kiwidancer

Hello,

Do you have the current Genesis Coupe lease numbers?

I am interested in both the automatic and manual. 36/12.

Thank you!

kyfdx

kiwidancer said:

Hello,

Do you have the current Genesis Coupe lease numbers?

I am interested in both the automatic and manual. 36/12.

Thank you!

.00077 MF and 49% residual for manual
.00081 MF and 51% residual for auto

$2500 lease cash for either.

tgotts469

Does Hyundai allow MSDs to lower MF further?

Michaell

tgotts469 said:

Does Hyundai allow MSDs to lower MF further?

To our knowledge, they do not.

fsunolescars

Hi, looking for April numbers for Genesis 3.8 RWD in Florida for 36/12. Thank you!

kyfdx

fsunolescars said:

Hi, looking for April numbers for Genesis 3.8 RWD in Florida for 36/12. Thank you!

.00026 MF and 59% residual. $2500 lease cash

frankavelli

Can I please have MF Residual and incentives for 2016 3.8 and 3.8 w/ signature for 36/15k in North Carolina?

Michaell

frankavelli said:

Can I please have MF Residual and incentives for 2016 3.8 and 3.8 w/ signature for 36/15k in North Carolina?

I'll assume RWD as you are in NC.

.00026 and 57%. $2500 lease cash.

Packages and trim levels do not impact the numbers.

frankavelli

I pulled the trigger... I was given an offer I couldn't Refuse....


2016 3.8 RWD Base Model Genesis Sedan
MSRP 38,784
Cap Cost Reduction $6000
Adjusted Cap Cost 32,784
Residual 22,828.50
Monthly Payment: $299.73

15k a year 36 months, sign and drive absolutely 0 out of pocket

Michaell

frankavelli said:

I pulled the trigger... I was given an offer I couldn't Refuse....


2016 3.8 RWD Base Model Genesis Sedan
MSRP 38,784
Cap Cost Reduction $6000
Adjusted Cap Cost 32,784
Residual 22,828.50
Monthly Payment: $299.73

15k a year 36 months, sign and drive absolutely 0 out of pocket

So the $6000 cap cost reduction was really the dealer discount plus incentives?

And all your fees and taxes were rolled into the adjusted cap cost?

If so, wow, that's a smoking deal.

Congrats and enjoy your new Genesis.

frankavelli

Yes not a dime came of that came out of my pocket... They used several 500 dollar dealer coupons on my deal on top of the incentives. 


Michaell said:

I pulled the trigger... I was given an offer I couldn't Refuse.... 2016 3.8 RWD Base Model Genesis Sedan MSRP 38,784 Cap Cost Reduction $6000 Adjusted Cap Cost 32,784 Residual 22,828.50 Monthly Payment: $299.73 15k a year 36 months, sign and drive absolutely 0 out of pocket

So the $6000 cap cost reduction was really the dealer discount plus incentives? And all your fees and taxes were rolled into the adjusted cap cost? If so, wow, that's a smoking deal. Congrats and enjoy your new Genesis.

guero235

Hi, i'm looking for the numbers on 2016 AWD with signature and tech packages for 36/12k in Utah. Thanks!

Does the ultimate package change the residual?

kyfdx

guero235 said:

Hi, i'm looking for the numbers on 2016 AWD with signature and tech packages for 36/12k in Utah. Thanks!

Does the ultimate package change the residual?

.00046 MF and 60% residual. $2500 lease cash.

No.

mv394299

My good friend recently signed a deal in N Ca. The numbers look appealing and I am thinking of leasing a similar Genersis.

What I know about his deal is as follow:

2016 3.8 RWD Ultimate package Genesis Sedan

MSRP 50,785
Gross capitalized cost $46,707.71
Cap Cost reduction $8156.21
Adjusted Cap Cost $38,551.50
Residual $30,471
Monthly Payment: $419 + CA tax (with no down payment and free of first month)
10k with 36 months

I got these from his lease contract. I am new to car lease. Please help to let me know if this is a good enough deal for me to try to do the same? Thanks a lot!

mv394299

correction on term: it should be 12k/36

kyfdx

mv394299 said:

My good friend recently signed a deal in N Ca. The numbers look appealing and I am thinking of leasing a similar Genersis.

What I know about his deal is as follow:

2016 3.8 RWD Ultimate package Genesis Sedan

MSRP 50,785
Gross capitalized cost $46,707.71
Cap Cost reduction $8156.21
Adjusted Cap Cost $38,551.50
Residual $30,471
Monthly Payment: $419 + CA tax (with no down payment and free of first month)
10k with 36 months

I got these from his lease contract. I am new to car lease. Please help to let me know if this is a good enough deal for me to try to do the same? Thanks a lot!

Where is the CAP cost reduction coming from? Does he have a trade? Rebate?

raf811

Hi,
I am looking for residuals, money factor, and lease cash on a 2016 Genesis 3.8 AWD & RWD, 36/12k, Freehold, NJ.
Thank you!

Michaell

raf811 said:

Hi,
I am looking for residuals, money factor, and lease cash on a 2016 Genesis 3.8 AWD & RWD, 36/12k, Freehold, NJ.
Thank you!

RWD - .00026 and 59%
AWD - .00046 and 60%

$2500 lease cash.

klnmcmg

MF and RV 3.8 RWD in NC, 48/15?

mv394299

=======================================================================
Where is the CAP cost reduction coming from? Does he have a trade? Rebate?
=======================================================================

I asked him about this. With my limited understanding of lease contract, following is my understanding:

** There was no trade in.
** There was a $3500 rebate in CAP cost reduction.
** The deal was formed based on mutually agreed number at $419 plus CA tax (no down payment with first month free).
** My friend knows normally people don't like to put money down; but with his personal reason (my wild guess is he only would show monthly payment to someone he cares) to keep monthly payment in $200s. After $419 number was fixed, he decided to put down $6000 and make the monthly payment at $237 plus CA tax.
** So his total payment for this almost $51k Genesis is ===> $6000 + $237 x 36 = $14,532(plus tax)

I am not very familiar with lease term. So, I view this deal as bellow:

** after 36 month, he pays depreciation at 28.6% = $14532/$50785 (MSRP) or
** $14532 + $30471 (residual value) = $45003. This is bellow $46707.71 (Gross capitalized cost)

Both ways look to be appealing to me but I am not sure if I overlook anything in term of car leasing. I appreciate your help!!

Michaell

klnmcmg said:

MF and RV 3.8 RWD in NC, 48/15?

.00120 and 50%. $3000 lease cash.

Michaell

mv394299 said:

=======================================================================
Where is the CAP cost reduction coming from? Does he have a trade? Rebate?

=======================================================================

I asked him about this. With my limited understanding of lease contract, following is my understanding:

** There was no trade in.
** There was a $3500 rebate in CAP cost reduction.
** The deal was formed based on mutually agreed number at $419 plus CA tax (no down payment with first month free).
** My friend knows normally people don't like to put money down; but with his personal reason (my wild guess is he only would show monthly payment to someone he cares) to keep monthly payment in $200s. After $419 number was fixed, he decided to put down $6000 and make the monthly payment at $237 plus CA tax.
** So his total payment for this almost $51k Genesis is ===> $6000 + $237 x 36 = $14,532(plus tax)

I am not very familiar with lease term. So, I view this deal as bellow:

** after 36 month, he pays depreciation at 28.6% = $14532/$50785 (MSRP) or
** $14532 + $30471 (residual value) = $45003. This is bellow $46707.71 (Gross capitalized cost)

Both ways look to be appealing to me but I am not sure if I overlook anything in term of car leasing. I appreciate your help!!


The $419/mo is a good deal to start with. We don't recommend making a down payment on a lease - if the car is stolen or totaled during the lease term, that money would be lost.

mv394299

My friend had his reason but I will try to go for no money down. I would like to try the Ultimate package 3.8 RWD (36/10). With MSRP $50785 car, what would be a reasonable target, if $419 (no payment down) needs to be improved, I should have in mind?

My original thought of good deal was that if no money down monthly payment is equal or less than 1% of agreed sell price. Looks like I am wrong by some margin, is there other incentive from manufacture to dealer to make it more room for negotiation? I want to prepare myself during negotiation.

Can you help to let me know what MF and RV I should use for lease estimate calculation? Ultimate package 3.8 RWD (36/10) is what I will try. Does 36/12 change MF and RV? Many thanks for your great help!!

Michaell

mv394299 said:

My friend had his reason but I will try to go for no money down. I would like to try the Ultimate package 3.8 RWD (36/10). With MSRP $50785 car, what would be a reasonable target, if $419 (no payment down) needs to be improved, I should have in mind?

My original thought of good deal was that if no money down monthly payment is equal or less than 1% of agreed sell price. Looks like I am wrong by some margin, is there other incentive from manufacture to dealer to make it more room for negotiation? I want to prepare myself during negotiation.

Can you help to let me know what MF and RV I should use for lease estimate calculation? Ultimate package 3.8 RWD (36/10) is what I will try. Does 36/12 change MF and RV? Many thanks for your great help!!

.00053 and 59% for 36/12. Add 1% for 10K. $2500 lease cash.

The payment will depend on how much of a discount you can negotiate from sticker, before the incentives.

acurat

As the moderators have stated, when leasing it is considered unwise to make a "down payment" (which is correctly called a customer capitalized cost reduction). If the car is totaled, the finance company gets the insurance check while you get to go out and lease another car. Cap cost reductions should be funded by the dealer or manufacturer only. Leasing is tricky. If you focus only on the monthly payment, the dealer can manipulate other factors to get more of your money. Edmunds has a few great online tutorials on the topic.

Michaell

acurat said:

Edmunds has a few great online tutorials on the topic.

Start here:

http://www.edmunds.com/car-leasing/

mv394299

Michaell said:

Edmunds has a few great online tutorials on the topic.

Start here: http://www.edmunds.com/car-leasing/

Hi Michael,

Thank you so much to share the link. I will do more study. As for my friend, he knew the less money down the better. But he has to choose between the liability you mentioned or go home has more difficult time explain the cost of car. The someone he cares won't see the contract but has access to see bank statement......:)

I will try for no money down approach. Hope I can get at least $419/mo and maybe better deal

joe_fry

Hello everyone,

I got an "interesting" offer from a local dealer in Michigan, which I could use your help to decipher:

2016 Genesis Ultimate
MSRP: $53,370
Sale price: $40,747

36/12 lease
MF: 0.00179 (vs .00046 base)
Residual: $29,253 (55% - vs 60% base)

$490/month (w/tax)

$1,490 due at signing:
$490 first payment
$285 license plate
$15 title fee
$234 doc and CVR fee
$405 tax on rebate

Questions:
1. If I simply plug all these numbers into my lease calculator, I get a total of $1,631 LESS than the quote, so something's amiss. For instance, I'm guessing the acq. fee has been left out, but that still leaves a $1,000 markup. Any ideas?

2. I've never seen a dealer mark down the residual, and I'm trying to figure out whether that's an honest mistake, new financing terms, or just plain wrong. Hyundai's main website says 60% residual for my zip code, as of today. What do you think's going on?

My concern:
With the inflated (quadrupled) MF, decreased residual and mystery extra $1,631, I end up with a total lease cost that's $7,114 (62%) higher than calculating the total lease cost with the base MF and residual!

While I understand that this offer is a negotiation baseline, I've never seen such a combo of markups. It makes me question whether I can be bothered to negotiate with this dealer, who might force me to watch out for weird tricks for every step until I sign the contract. I don't have time for too many shenanigans (cue Super Troopers quotes).

Yet, this is also the only full Genesis quote I've received. I've had a torrid time getting detailed quotes from all of other local Hyundai dealers - no matter how politely I ask.

I'm increasingly tempted to walk away from Hyundai as an option and stick with my local [other brand] dealer, who always gives me a full breakdown and the base MF without any prompting.

But first, I figured I'd get you guys' thoughts.

kyfdx

joe_fry said:

Hello everyone,

I got an "interesting" offer from a local dealer in Michigan, which I could use your help to decipher:

2016 Genesis Ultimate
MSRP: $53,370
Sale price: $40,747

36/12 lease
MF: 0.00179 (vs .00046 base)
Residual: $29,253 (55% - vs 60% base)

$490/month (w/tax)

$1,490 due at signing:
$490 first payment
$285 license plate
$15 title fee
$234 doc and CVR fee
$405 tax on rebate

Questions:
1. If I simply plug all these numbers into my lease calculator, I get a total of $1,631 LESS than the quote, so something's amiss. For instance, I'm guessing the acq. fee has been left out, but that still leaves a $1,000 markup. Any ideas?

2. I've never seen a dealer mark down the residual, and I'm trying to figure out whether that's an honest mistake, new financing terms, or just plain wrong. Hyundai's main website says 60% residual for my zip code, as of today. What do you think's going on?

My concern:
With the inflated (quadrupled) MF, decreased residual and mystery extra $1,631, I end up with a total lease cost that's $7,114 (62%) higher than calculating the total lease cost with the base MF and residual!

While I understand that this offer is a negotiation baseline, I've never seen such a combo of markups. It makes me question whether I can be bothered to negotiate with this dealer, who might force me to watch out for weird tricks for every step until I sign the contract. I don't have time for too many shenanigans (cue Super Troopers quotes).

Yet, this is also the only full Genesis quote I've received. I've had a torrid time getting detailed quotes from all of other local Hyundai dealers - no matter how politely I ask.

I'm increasingly tempted to walk away from Hyundai as an option and stick with my local [other brand] dealer, who always gives me a full breakdown and the base MF without any prompting.

But first, I figured I'd get you guys' thoughts.

It's either a 3rd party bank lease.. or, it's a 2015 model.

My bet is on 2015.

jg_1515

Hi,
I am looking for residuals, money factor, and lease cash on a 2016 Genesis 3.8 AWD & RWD, 36/12k, Indianapolis, IN.

Thank you!

Michaell

jg_1515 said:

Hi,
I am looking for residuals, money factor, and lease cash on a 2016 Genesis 3.8 AWD & RWD, 36/12k, Indianapolis, IN.

Thank you!

RWD - .00026 and 59%
AWD - .00046 and 60%
$2500 lease cash

badintentions

Whats the money factor in Denver, CO for 12K or 10K/36 month lease on 2016 3.8 and/or 5.0. Looking at AWD for 3.8 and obviously RWD for 5.0

Michaell

badintentions said:

Whats the money factor in Denver, CO for 12K or 10K/36 month lease on 2016 3.8 and/or 5.0. Looking at AWD for 3.8 and obviously RWD for 5.0

36/12 numbers:

3.8 AWD - .00046 and 60%
5.0 RWD - .00028 and 55%

$2500 lease cash

ceeee1987

Hi Michael, a quick question. Most of the previous posts have stated "0 down" and then monthly payment of ***/month. Does this mean that they are paying nothing out of pocket and all the taxes and fees have rolled into the payment or 0 down is NOT equivalent to 0 out of pocket, thus the buyer still has to pay additional DMV/TTL fees. Because I always assumed that 0 down means they are not paying anything except the stated monthly payment.

Anyway, I purchased a vehicle yesterday in NJ. 36/15K, 3.8L, AWD, Ultimate Package + some so called Service package (including Nitrogen tire treatment etc) of a total price of 56,280 (53,285 being MSRP of the vehicle). Sale price 47,500. I put down 2500 and got the monthly payment to be 439, nothing else. I think the NJ sales tax is 7% (not 100% sure). Does this sound like a good deal?

Thanks.

nlclhc1

Hi,

What are the MF and residual for a 36/10 3.8 AWD with ultimate package? What incentives there are?

Thanks

Michaell

ceeee1987 said:

Hi Michael, a quick question. Most of the previous posts have stated "0 down" and then monthly payment of ***/month. Does this mean that they are paying nothing out of pocket and all the taxes and fees have rolled into the payment or 0 down is NOT equivalent to 0 out of pocket, thus the buyer still has to pay additional DMV/TTL fees. Because I always assumed that 0 down means they are not paying anything except the stated monthly payment.

Anyway, I purchased a vehicle yesterday in NJ. 36/15K, 3.8L, AWD, Ultimate Package + some so called Service package (including Nitrogen tire treatment etc) of a total price of 56,280 (53,285 being MSRP of the vehicle). Sale price 47,500. I put down 2500 and got the monthly payment to be 439, nothing else. I think the NJ sales tax is 7% (not 100% sure). Does this sound like a good deal?

Thanks.

There is a big difference between $0 down and $0 out of pocket. For a lease, "down payment" is the same as "Cap reduction", and is not something we recommend.

However, there are up front costs associated with a lease that may be paid up front or rolled into the cap cost - acquisition fee, dealer fee, tags, etc.

36/15 numbers for the 3.8 AWD are .00046 and 58%. $2500 lease cash.

What is the MSRP on the window sticker? If you bought dealer installed accessories these are not residualized and you pay for 100% of that cost over the lease term.

That said, $439/mo for a car that stickers at $53K is a pretty smoking deal. Enjoy!

Michaell

nlclhc1 said:

Hi,

What are the MF and residual for a 36/10 3.8 AWD with ultimate package? What incentives there are?

Thanks

.00046 and 61%. $2500 lease cash.

kiwidancer

Is this a decent deal on 2016 Ultimate Manual Genesis Coupe? I'm looking to sign lease papers tomorrow. This is in FL (6.5% sales tax)

MSRP $34,750.00
Residual % 51%
Money Factor 0.0008
Term 36

Sales Price $32,978.00
Cap. Cost Red. $ 3,511.16 (2500 lease cash, 500 military, 500 boostup matching)
Acquisition Fees $ 595.00
Net Cap Cost $30,061.84
Residual Amt $17,722.50
Total Financed $12,339.34


Monthly Payment $405.75
Tag, Title, Doc Fees $999.49
Cap Cost Red Tax $228.23
Due at signing $1,633.47

First Payment Rebate $405.75
Recent College Grad Rebate $400.00

(both "rebates" will be checks cut to me after lease is put into hyundai system)

kyfdx

kiwidancer said:

Is this a decent deal on 2016 Ultimate Manual Genesis Coupe? I'm looking to sign lease papers tomorrow. This is in FL (6.5% sales tax)

MSRP $34,750.00
Residual % 51%
Money Factor 0.0008
Term 36

Sales Price $32,978.00
Cap. Cost Red. $ 3,511.16 (2500 lease cash, 500 military, 500 boostup matching)
Acquisition Fees $ 595.00
Net Cap Cost $30,061.84
Residual Amt $17,722.50
Total Financed $12,339.34


Monthly Payment $405.75
Tag, Title, Doc Fees $999.49
Cap Cost Red Tax $228.23
Due at signing $1,633.47

First Payment Rebate $405.75
Recent College Grad Rebate $400.00

(both "rebates" will be checks cut to me after lease is put into hyundai system)

We show .00061 MF and 51% residual for 36mo, 12K/yr. $2500 lease cash

Using your money factor, I get $381/mo.+tax, which isn't far off.

Looks like a pretty big doc fee hiding under "Tax, Title, Doc Fees"

We don't track selling prices, but if you are happy with that part of it, seems like a good deal. The money factor markup is adding about $10/mo. to the deal.

Of course, the $805 in rebates is effectively cutting the payment by $22/mo.

santima85

Hello,

What are the MF and residual for a 36/12 3.8 AWD with ultimate package in Kentucky and what incentives are available?

Thank You

Michaell

santima85 said:

Hello,

What are the MF and residual for a 36/12 3.8 AWD with ultimate package in Kentucky and what incentives are available?

Thank You

.00046 and 60%. $2500 lease cash.

santima85

Hello,

I was just curious if the MF, residual and incentives for a 36/12 3.8 AWD with ultimate package in Kentucky are the same as last month?

Thank You

kyfdx

santima85 said:

Hello,

I was just curious if the MF, residual and incentives for a 36/12 3.8 AWD with ultimate package in Kentucky are the same as last month?

Thank You

.00035 MF and 57% residual. $3500 lease cash.

volnedan

2016 AWD base model for 36/12 and 24/12 (if available) for Michigan please. Thanks

Michaell

volnedan said:

2016 AWD base model for 36/12 and 24/12 (if available) for Michigan please. Thanks

No 24 month terms on the Genesis.

36/12 - .00035 and 57%. $3500 lease cash.