2016 Hyundai Genesis Lease Questions

kyfdx

shimimarom said:

Just closed on an AWD Genesis 3.8 Ultimate  in Chicago area. Here are the details:
MSRP: 53,470.00
Risidual: 30,477.90
Net cap cost: 43,174.75
Miles: 12,000
Months: 36
Money down: first month payment $380
Monthly payment: $380 including tax. 

Congrats!

kyfdx

aygriffith said:

Can I get the June 15k/36mo numbers for Genesis Tech AWD in Louisiana and/or Alabama?

.00035 MF and 55% residual. $3500 lease cash

kyfdx

kumaradi said:

Can I get the June 10k/36 month numbers for Genesis Ultimate in Arizona?

.00017 MF and 57% residual. $3500 lease cash

poops

shimimarom said:

Just closed on an AWD Genesis 3.8 Ultimate  in Chicago area. Here are the details:
MSRP: 53,470.00
Risidual: 30,477.90
Net cap cost: 43,174.75
Miles: 12,000
Months: 36
Money down: first month payment $380
Monthly payment: $380 including tax. 

Holy awesome deal!! I got a quote for similar vehicle for $556/month with $0 down. However, I live in the city so I have to deal with the 9% use tax. If you don't mind my asking, which dealer did you work with? Did you put money down on the lease (what was your out of pocket amount)?

fentdizzle

I have been a lurker here for the past 6 months deciding on which car to lease next. And ended up with a 3.8 RWD Genesis with signature package.
MSRP 45k (after dealer installed stuff)
Selling price 33k
due at signing $380
monthly $380
36/10
AZ

this forum has been a huge help!
Thank you! 

kyfdx

fentdizzle said:

I have been a lurker here for the past 6 months deciding on which car to lease next. And ended up with a 3.8 RWD Genesis with signature package.
MSRP 45k (after dealer installed stuff)
Selling price 33k
due at signing $380
monthly $380
36/10
AZ

this forum has been a huge help!
Thank you! 

Congrats!

kumaradi

fentdizzle said:

I have been a lurker here for the past 6 months deciding on which car to lease next. And ended up with a 3.8 RWD Genesis with signature package.
MSRP 45k (after dealer installed stuff)
Selling price 33k
due at signing $380
monthly $380
36/10
AZ

this forum has been a huge help!
Thank you! 

I am also looking for the same car. if you don't mind, can you please let me know which dealer you work with in AZ?

Thanks.

aygriffith

Can you guys look over this proposed deal? I think they're not really riding that pre-incentive price too hard and then suddenly my incentives are disappearing in the "Cap Cost Reduction" portion of their numbers. They're saying, "We have to pay X state's taxes on those incentives, thats why you won't get the full value of the incentive." I've never heard that before, nor does their math even equal my state's tax rate. Where did my incentives go??

This is 15k/36mo on a AWD 2016 Genesis with Tech.

Help!!

Assumed Incentives:
3500 Lease Cash
1000 Loyalty
400 New Grad
200 AMEX Card (I think this is a thing? Can anyone confirm?)

Michaell

aygriffith said:

Can you guys look over this proposed deal? I think they're not really riding that pre-incentive price too hard and then suddenly my incentives are disappearing in the "Cap Cost Reduction" portion of their numbers. They're saying, "We have to pay X state's taxes on those incentives, thats why you won't get the full value of the incentive." I've never heard that before, nor does their math even equal my state's tax rate. Where did my incentives go??

This is 15k/36mo on a AWD 2016 Genesis with Tech.

Help!!

Assumed Incentives:
3500 Lease Cash
1000 Loyalty
400 New Grad
200 AMEX Card (I think this is a thing? Can anyone confirm?)

The dealer is correct - incentives are like cash, and are subject to sales tax.

No information on incentives, beyond the lease cash.

I agree with the math.

aygriffith

Michaell said:

Can you guys look over this proposed deal? I think they're not really riding that pre-incentive price too hard and then suddenly my incentives are disappearing in the "Cap Cost Reduction" portion of their numbers. They're saying, "We have 

The dealer is correct - incentives are like cash, and are subject to sales tax. No information on incentives, beyond the lease cash. I agree with the math.

Based on some of the really great deals people are posting do you think this deal holds water at all?  Even if I took 12k vs 15k I wouldn't be close to other folks numbers.  I told the dealer I thought it wasn't a very competitive offer, they basically laughed at me. 

Michaell

aygriffith said:

Michaell said:

Can you guys look over this proposed deal? I think they're not really riding that pre-incentive price too hard and then suddenly my incentives are disappearing in the "Cap Cost Reduction" portion of their numbers. They're saying, "We have 

The dealer is correct - incentives are like cash, and are subject to sales tax.

No information on incentives, beyond the lease cash.

I agree with the math.

Based on some of the really great deals people are posting do you think this deal holds water at all?  Even if I took 12k vs 15k I wouldn't be close to other folks numbers.  I told the dealer I thought it wasn't a very competitive offer, they basically laughed at me. 

Lots of Hyundai dealers out there; it only takes one to make a deal on your terms.

aygriffith

Michaell said:

Lots of Hyundai dealers out there; it only takes one to make a deal on your terms.

You're right, the deal sucks. Unfortunately they're the only one in the Gulf Coast with the AWD drive-train and tech package. All the others floating around are Ultimate packages.

Back to the drawing board I guess!

Michaell

aygriffith said:

Michaell said:

Lots of Hyundai dealers out there; it only takes one to make a deal on your terms.

You're right, the deal sucks. Unfortunately they're the only one in the Gulf Coast with the AWD drive-train and tech package. All the others floating around are Ultimate packages.

Back to the drawing board I guess!

And I'll bet they know the scarcity of what they have, and won't discount it.

scatts

shimimarom said:

Just closed on an AWD Genesis 3.8 Ultimate  in Chicago area. Here are the details:
MSRP: 53,470.00
Risidual: 30,477.90
Net cap cost: 43,174.75
Miles: 12,000
Months: 36
Money down: first month payment $380
Monthly payment: $380 including tax. 

Can you elaborate on how the Net cost was arrived at? That's a great price!
Thanks

aygriffith

Michaell said:

aygriffith said:

Michaell said:

Lots of Hyundai dealers out there; it only takes one to make a deal on your terms.

You're right, the deal sucks. Unfortunately they're the only one in the Gulf Coast with the AWD drive-train and tech package. All the others floating around are Ultimate packages.

Back to the drawing board I guess!

And I'll bet they know the scarcity of what they have, and won't discount it.

While I am familiar with the old car salesman phrase of "There's an [non-permissible content removed] for every seat" I really think there's not too many who are willing to pay extra for an AWD model in the Gulf South. I honestly was surprised to even find any. This small dealer alone has 3 in stock. Its at least half their Genesis inventory.

ikkim757

Hi, can I get June numbers for 2016 Genesis with Tech in Virginia. 12k/36
Thanks!

Michaell

 

aygriffith said:

Lots of Hyundai dealers out there; it only takes one to make a deal on your terms.

You're right, the deal sucks. Unfortunately they're the only one in the Gulf Coast with the AWD drive-train and tech package. All the others floating around are Ultimate packages. Back to the drawing board I guess!

And I'll bet they know the scarcity of what they have, and won't discount it.

While I am familiar with the old car salesman phrase of "There's an [non-permissible content removed] for every seat" I really think there's not too many who are willing to pay extra for an AWD model in the Gulf South. I honestly was surprised to even find any. This small dealer alone has 3 in stock. Its at least half their Genesis inventory.

Which begs the question - why do you want an AWD Genesis in the Gulf South?

Michaell

ikkim757 said:

Hi, can I get June numbers for 2016 Genesis with Tech in Virginia. 12k/36 Thanks!

RWD or AWD?

ikkim757

Michaell said:

ikkim757 said:

Hi, can I get June numbers for 2016 Genesis with Tech in Virginia. 12k/36
Thanks!

RWD or AWD?


RWD

kyfdx

ikkim757 said:

Michaell said:

ikkim757 said:

Hi, can I get June numbers for 2016 Genesis with Tech in Virginia. 12k/36
Thanks!

RWD or AWD?

RWD



.00017 MF and 56% residual. $3500 lease cash

kumaradi

I am getting a following Genesis 3.8 RWD Tech + Signature deal from the dealer:

MSRP: 47300
10k miles a year, 36 months
2000 down (including first month paid and taxes),
$288 a month.

is it a good deal?

Michaell

kumaradi said:

I am getting a following Genesis 3.8 RWD Tech + Signature deal from the dealer:

MSRP: 47300
10k miles a year, 36 months
2000 down (including first month paid and taxes),
$288 a month.

is it a good deal?

Seems solid. What is the adjusted cap cost?

toyoman8

How is this deal? Base model, MSRP $40,070
includong first payment. Nohing out of pocket

Michaell

toyoman8 said:

How is this deal? Base model, MSRP $40,070
includong first payment. Nohing out of pocket

RWD or AWD?

I believe that in VA, you pay 4.1% tax on the full selling price of the car.

What is the MSRP?

aygriffith

I had a dealer quote me 54% residual on a 15k/36mo RWD Genesis lease in Louisiana. Is that correct?

toyoman8

4.25% and MsRp 40,070. RWD. 1sr payment rolled in.

this calculator only use tax from financed amount so I have to increase the tax % to accomplish this.




Michaell said:

How is this deal? Base model, MSRP $40,070
includong first payment. Nohing out of pocket

RWD or AWD? I believe that in VA, you pay 4.1% tax on the full selling price of the car. What is the MSRP?

Michaell

toyoman8 said:

4.25% and MsRp 40,070. RWD. 1sr payment rolled in.

this calculator only use tax from financed amount so I have to increase the tax % to accomplish this.




Michaell said:

How is this deal? Base model, MSRP $40,070
includong first payment. Nohing out of pocket

RWD or AWD?

I believe that in VA, you pay 4.1% tax on the full selling price of the car.

What is the MSRP?

Why not add the tax to the selling price and make the tax rate 0?

Michaell

aygriffith said:

I had a dealer quote me 54% residual on a 15k/36mo RWD Genesis lease in Louisiana. Is that correct?

Yes - dealers are not allowed to alter the residual value. It is set by the bank.

toyoman8

I could, same thing really.



 said:

4.25% and MsRp 40,070. RWD. 1sr payment rolled in.

this calculator only use tax from financed amount so I have to increase the tax % to accomplish this.




Michaell said:

How is this deal? Base model, MSRP $40,070
includong first payment. Nohing out of pocket

RWD or AWD? I believe that in VA, you pay 4.1% tax on the full selling price of the car. What is the MSRP?

Why not add the tax to the selling price and make the tax rate 0?

toyoman8

So Michael, is it a decent deal?

Michaell

toyoman8 said:

So Michael, is it a decent deal?

I show the RWD MF as .00017.

How many miles per year is this for?

myteamstinks

Anyone get an answer how shimimarom got his deal? I've negotiated an AWD Signature from $46,100 to $42,100 plus $4,500 in mfg rebates; net cap cost is $37,600.

He's getting an Ultimate for the same (lease) price, $380, as I'm getting a Signature! Is this possible?

Michaell

myteamstinks said:

Anyone get an answer how shimimarom got his deal? I've negotiated an AWD Signature from $46,100 to $42,100 plus $4,500 in mfg rebates; net cap cost is $37,600.

He's getting an Ultimate for the same (lease) price, $380, as I'm getting a Signature! Is this possible?

We don't track selling prices; could be a regional thing.

mjobtx1

MF and Residual for V6 RWD Drive 10k/36mo in Texas please. Time to get busy.

Michaell

mjobtx1 said:

MF and Residual for V6 RWD Drive 10k/36mo in Texas please. Time to get busy.

.00017 and 57%. $3500 lease cash.

jimmmmbo

Lease cash, MF and residual value on Genesis 3.8 with Sig package, 3yr/12k and 3yr 15k, in MN Twin Cities, please? Thanks so much for what you guys do here, you have helped so many including me!!! (And I actually got it all right in this forum, vs the Sonata forum. )

Michaell

jimmmmbo said:

Lease cash, MF and residual value on Genesis 3.8 with Sig package, 3yr/12k and 3yr 15k, in MN Twin Cities, please? Thanks so much for what you guys do here, you have helped so many including me!!! (And I actually got it all right in this forum, vs the Sonata forum. )

AWD? .00035 and 57% for 36/12. $3500 lease cash. Subtract 2% for 15K

jimmmmbo

Thanks, Michaell. Affirmative on the AWD. There I went bragging about how complete I was and I still missed something!

Michaell

jimmmmbo said:

Thanks, Michaell. Affirmative on the AWD. There I went bragging about how complete I was and I still missed something!

I figured, based on your location.

shimimarom

Michaell said:

myteamstinks said:

Anyone get an answer how shimimarom got his deal? I've negotiated an AWD Signature from $46,100 to $42,100 plus $4,500 in mfg rebates; net cap cost is $37,600.

He's getting an Ultimate for the same (lease) price, $380, as I'm getting a Signature! Is this possible?

We don't track selling prices; could be a regional thing.

The dealer used multiple $500 coupons which I signed a bunch of them when I did all the paperwork.
He also used a competitive rebate/coupon.
Hope this helps.

boilard4584

I just got my deal on a 2016 RWD Ultimate 3.8. My out the door including tag and first month is 1K. My monthly are $400 including 6% tax.

Michaell

boilard4584 said:

I just got my deal on a 2016 RWD Ultimate 3.8. My out the door including tag and first month is 1K. My monthly are $400 including 6% tax.

Congrats! Enjoy the new Genesis.

volnedan

Well after lurking for a while and finally deciding on a vehicle, I leased a 2016 Genesis AWD with no options or packages. MSRP $42,345, 36 mos/12k miles per year with $1000 due at signing at $283/mo including 6% sales tax.

Now before everyone calls BS, some things to know: Detroit area dealers are giving employee discount to keep up with the domestic brands, and I qualified for $5000 in rebates, and dealer also added $1500 in certificates (3 applied to my deal). The original quote started at $337/mo, but after negotiations and forcing the dealer to use top tier MF of 0.00035, I finally got the payment I wanted.

In context, the dealer really isn't losing any money, they get reimbursed for employee discount and all rebates directly from the Hyundai corporate. The dealer kept trying to push a marked up MF of 0.00075, but I remained firm and polite about it until he finally cracked. I told him no one had a gun to his head, and if he wanted to sell it to someone else for a larger profit then go ahead. Obviously he wanted to move the car because it was a 'base' model and it was sitting on the lot for almost 3 months.

In the end, I get a great car for a lower lease payment than 90% of car that cost $10k less. I couldn't get a 2016 Mazda6 GT for less than $300/mo with same money due at signing, and that car has MSRP of $31k.

Michaell

volnedan said:

Well after lurking for a while and finally deciding on a vehicle, I leased a 2016 Genesis AWD with no options or packages. MSRP $42,345, 36 mos/12k miles per year with $1000 due at signing at $283/mo including 6% sales tax.

Now before everyone calls BS, some things to know: Detroit area dealers are giving employee discount to keep up with the domestic brands, and I qualified for $5000 in rebates, and dealer also added $1500 in certificates (3 applied to my deal). The original quote started at $337/mo, but after negotiations and forcing the dealer to use top tier MF of 0.00035, I finally got the payment I wanted.

In context, the dealer really isn't losing any money, they get reimbursed for employee discount and all rebates directly from the Hyundai corporate. The dealer kept trying to push a marked up MF of 0.00075, but I remained firm and polite about it until he finally cracked. I told him no one had a gun to his head, and if he wanted to sell it to someone else for a larger profit then go ahead. Obviously he wanted to move the car because it was a 'base' model and it was sitting on the lot for almost 3 months.

In the end, I get a great car for a lower lease payment than 90% of car that cost $10k less. I couldn't get a 2016 Mazda6 GT for less than $300/mo with same money due at signing, and that car has MSRP of $31k.

Holy cow! Very sweet deal ... and, good for you to stick to your numbers.

Congrats, and enjoy the new Genesis.

gpapz125

volnedan said:

Well after lurking for a while and finally deciding on a vehicle, I leased a 2016 Genesis AWD with no options or packages. MSRP $42,345, 36 mos/12k miles per year with $1000 due at signing at $283/mo including 6% sales tax.

Now before everyone calls BS, some things to know: Detroit area dealers are giving employee discount to keep up with the domestic brands, and I qualified for $5000 in rebates, and dealer also added $1500 in certificates (3 applied to my deal). The original quote started at $337/mo, but after negotiations and forcing the dealer to use top tier MF of 0.00035, I finally got the payment I wanted.

In context, the dealer really isn't losing any money, they get reimbursed for employee discount and all rebates directly from the Hyundai corporate. The dealer kept trying to push a marked up MF of 0.00075, but I remained firm and polite about it until he finally cracked. I told him no one had a gun to his head, and if he wanted to sell it to someone else for a larger profit then go ahead. Obviously he wanted to move the car because it was a 'base' model and it was sitting on the lot for almost 3 months.

In the end, I get a great car for a lower lease payment than 90% of car that cost $10k less. I couldn't get a 2016 Mazda6 GT for less than $300/mo with same money due at signing, and that car has MSRP of $31k.

congrats on your deal. I am looking to lease the genesis coupe base model. They've had the car sitting on the lot for a couple months now and my lease is currently ending with them. Base model is $29000. With rebates I'm hoping to get it down a lot because I don't want to lease this car for more than $230/month. Should I ask for employee discount? Im in NY.

vinod07

Please provide me residual and money factor for 2016 Genesis RWD for Texas if the rates are not national.

kyfdx

vinod07 said:

Please provide me residual and money factor for 2016 Genesis RWD for Texas if the rates are not national.

.00017 MF and 56% residual for 36/12. $3500 lease cash.

jcaruso13

I am about to accept this deal. Seems excellent to me. Do you agree?

2016 Genesis AWD Ultimate - MSRP $53,470 (includes all the accessories I don't need...)

12K/36 months

Selling price $46,500
Rebates $4500

Acq fee - $595
Doc fee - $698.50 (they are high here in CT...)
Reg - $175
Cap Cost Red Tax - $383.52
Tax rate 6.375

I believe cap cost was $44,228.86. The only screenshot I have was before we rolled everything in. It was $41,928.86 with $2300 down (which covered most of the fees. (monthly payment would have been 376.84 at that point)

It was an exec car so has around 3200 miles which lowered residual by $398.10 to $30,079.80

Monthly payment including taxes with $0 Drive off(1st payment, doc, acq, reg all rolled in and amortized over 35 months) $443.41

Good deal - or anything hidden?

Michaell

jcaruso13 said:

I am about to accept this deal. Seems excellent to me. Do you agree?

2016 Genesis AWD Ultimate - MSRP $53,470 (includes all the accessories I don't need...)

12K/36 months

Selling price $46,500
Rebates $4500

Acq fee - $595
Doc fee - $698.50 (they are high here in CT...)
Reg - $175
Cap Cost Red Tax - $383.52
Tax rate 6.375

I believe cap cost was $44,228.86. The only screenshot I have was before we rolled everything in. It was $41,928.86 with $2300 down (which covered most of the fees. (monthly payment would have been 376.84 at that point)

It was an exec car so has around 3200 miles which lowered residual by $398.10 to $30,079.80

Monthly payment including taxes with $0 Drive off(1st payment, doc, acq, reg all rolled in and amortized over 35 months) $443.41

Good deal - or anything hidden?

Other than the high doc fee, it looks good. $443/mo for a $53K car is a sweet lease deal.

jcaruso132

Couldn't log in again with facebook -

Thanks for the quick response! I agree with the Doc Fee, but getting a dealer to budge on their doc fee is like winning the lotto here in CT. For just under $16K total lease cost, I think it's a no brainer for an almost $53K car. It was a complete split second decision that I didn't expect to make. Too good to pass up for an awesome car.