2016 Hyundai Genesis Lease Questions

volnedan

gpapz125 said:

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.

Sorry, I haven't researched the Genesis coupe enough to provide a helpful response. Best method is to get selling price at invoice before applying any rebates or incentives. Also be sure to ask about dealer certificates, most high volume dealers receive them based on previous month's sales.

gpapz125

volnedan said:

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.

Sorry, I haven't researched the Genesis coupe enough to provide a helpful response. Best method is to get selling price at invoice before applying any rebates or incentives. Also be sure to ask about dealer certificates, most high volume dealers receive them based on previous month's sales.

So I went to the dealership today. What a damn joke. The best they could do was $378/month. I literally laughed. It was a base Genesis coupe. Msrp $29,500. I just got up and left. A $40k charger for $310/month but a $29k Genesis for $378? I'm speechless. 

woolooloo

I think I struck a pretty good deal on a 2016 Genesis 3.8 RWD Ultimate today. This was a car they had with nearly 4,000 miles from the GM's wife driving it, but it looked brand new to me.

I normally make sure that I know every number to make sure I am getting all the incentives and the correct MF and RV, etc. In this case, they offered a sales price on the vehicle and were pretty opaque, just saying it already included all the incentives. That didn't make much sense to me since it was listed as a sales price, so if that price was good for paying cash, then the $3500 lease cash should have stacked on it. We fought over that for a while, in the end, they dropped the price another $2000 and said that was all their was. I was happy with the payment so went with it.

MSRP $50,915
36/12k lease, 36 payments of $380.77/mo, $400 paid upfront which included the first month's payment.
Payment breaks down to $369.68/mo + $11.09/mo tax

I could try to reverse engineer some of the numbers from the lease agreement if it is helpful to anyone, but I do know that they applied five $500 flex cash certificates since that is how many we signed.

Anyways, $51k car for $381/mo, I am definitely happy with that - and with the car which is beautiful. The windows had also been tinted. There was a supplemental window sticker for the tinting and some paint protection for $991 but they never tried to include it in the price. So also happy that we do not need to tint the windows ourselves and basically got that thrown in for free.

Michaell

woolooloo said:

I think I struck a pretty good deal on a 2016 Genesis 3.8 RWD Ultimate today. This was a car they had with nearly 4,000 miles from the GM's wife driving it, but it looked brand new to me.

I normally make sure that I know every number to make sure I am getting all the incentives and the correct MF and RV, etc. In this case, they offered a sales price on the vehicle and were pretty opaque, just saying it already included all the incentives. That didn't make much sense to me since it was listed as a sales price, so if that price was good for paying cash, then the $3500 lease cash should have stacked on it. We fought over that for a while, in the end, they dropped the price another $2000 and said that was all their was. I was happy with the payment so went with it.

MSRP $50,915
36/12k lease, 36 payments of $380.77/mo, $400 paid upfront which included the first month's payment.
Payment breaks down to $369.68/mo + $11.09/mo tax

I could try to reverse engineer some of the numbers from the lease agreement if it is helpful to anyone, but I do know that they applied five $500 flex cash certificates since that is how many we signed.

Anyways, $51k car for $381/mo, I am definitely happy with that - and with the car which is beautiful. The windows had also been tinted. There was a supplemental window sticker for the tinting and some paint protection for $991 but they never tried to include it in the price. So also happy that we do not need to tint the windows ourselves and basically got that thrown in for free.

Congrats on the new Hyundai!

ab220094

Hi, Could I please get the MF and residual for a 2016 Genesis 3.8 AWD in North Dakota? 24/12k and 36/12k terms. Also, any lease cash or conquest cash available for June?
Thanks!

Michaell

ab220094 said:

Hi, Could I please get the MF and residual for a 2016 Genesis 3.8 AWD in North Dakota? 24/12k and 36/12k terms. Also, any lease cash or conquest cash available for June?
Thanks!

No 24 month leases on the Genesis.

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

rdxer

Can you kindly please post MF/Residual/Known Incentives for Genesis Sedan AWD with both Tech/Signature as well as Ultimate (if there's a difference) in VA..36 mo/10K terms. Many thanks

Michaell

rdxer said:

Can you kindly please post MF/Residual/Known Incentives for Genesis Sedan AWD with both Tech/Signature as well as Ultimate (if there's a difference) in VA..36 mo/10K terms. Many thanks

.00035 and 58%. $3500 lease cash.

Packages and options do not affect the numbers.

ianckan

I have received a dealer quote of $47,317 (MSRP $53,415) for a 3.8 AWD Genesis with ultimate package. Could you please let me know the current MF/Residuals/ Incentives in SoCal? Could you also please let me know the lease numbers for a 36 months/ 12 k lease with zero down in SoCal, Thank you.

rdxer

Thanks very much

Michaell

ianckan said:

I have received a dealer quote of $47,317 (MSRP $53,415) for a 3.8 AWD Genesis with ultimate package. Could you please let me know the current MF/Residuals/ Incentives in SoCal? Could you also please let me know the lease numbers for a 36 months/ 12 k lease with zero down in SoCal, Thank you.

.00035 and 57%. $3500 lease cash.

With your prices, I get $496/mo before taxes.

You aren't getting a very big discount, given the lease cash available. Read back through the last page or two of this discussion to see what others are able to negotiate.

ianckan

Thanks for your reply with the numbers. This is really helpful. Will keep you posted.

ianckan

Isn't the lease cash incentive a cap cost reduction exclusively ? When you bargain down the sale price , can the dealer include the 'lease cash incentive' to bring down the MSRP? The reason I ask is, the dealer says they have already heavily discounted and used all available resources to bring down from MSRP $53,415 to the agreed sale price of $47,317. the best they can do is shave off another $1000 of sale price and they dont have any lease cash incentive to use, which I told him was strange. They still havent given me the money factor and residual they used to calculate the lease. ball park lease quote intiially was $569 (inc tax)X 36 months with $2000 down came down to $530/m with $1000 down. I havent agreed on anything as yet. The down doesnt include registration, document fee or tax on cap cost reduction (which they havent included in the first place)and fees. SO I walked away. Going to try another dealer

In your opinion other than initial associated fees ( registration +doc fee+tax on cap reduction+ aquistion fee), do I stick to a zero down? Is the available lease cash incentive set at the the discretion of the dealer, do we have to really push to get them to open up that kitty?

All this is for a 2106 3.8 Genesis AWD with Ultimate package in SoCal.

Thanks in advance for your time.

Michaell

ianckan said:

Isn't the lease cash incentive a cap cost reduction exclusively ? When you bargain down the sale price , can the dealer include the 'lease cash incentive' to bring down the MSRP? The reason I ask is, the dealer says they have already heavily discounted and used all available resources to bring down from MSRP $53,415 to the agreed sale price of $47,317. the best they can do is shave off another $1000 of sale price and they dont have any lease cash incentive to use, which I told him was strange. They still havent given me the money factor and residual they used to calculate the lease. ball park lease quote intiially was $569 (inc tax)X 36 months with $2000 down came down to $530/m with $1000 down. I havent agreed on anything as yet. The down doesnt include registration, document fee or tax on cap cost reduction (which they havent included in the first place)and fees. SO I walked away. Going to try another dealer

In your opinion other than initial associated fees ( registration +doc fee+tax on cap reduction+ aquistion fee), do I stick to a zero down? Is the available lease cash incentive set at the the discretion of the dealer, do we have to really push to get them to open up that kitty?

All this is for a 2106 3.8 Genesis AWD with Ultimate package in SoCal.

Thanks in advance for your time.

It's quite likely that the dealer price offer already includes the lease cash - it's a factory to dealer incentive, which the dealer can choose to pass along to the customer.

Might not hurt to get another dealer involved - the competition usually benefits you as the consumer.

And, it's unfortunately common for dealers to leave out the pertinent elements of a lease offer. Ask to see all the math. If they balk, then it's time to try another dealer. Plenty to choose from in SoCal.

ianckan

Thank you for your time.

mdubdroid3

has anyone signed up for the mechanical coverage protection plan? wondering if you're actually able to cancel it and get the prorated amount back? or just stuck since its part of the lease contract?

nyminj_

I am very new to lease. I truly appreciate if anyone can help me. I just came back from dealer shop in NY for leasing 2016 Genesis 3.8 AWD, Signature Package (MSRP: 46,100), 10K/36mo
Their offer was $335/mo + $2,000 for Drive-off
However, they did not wanted to break down the cost, which I felt frustrated.
Thank you for in advance.

nyccarguy

nyminj_ said:

I am very new to lease. I truly appreciate if anyone can help me. I just came back from dealer shop in NY for leasing 2016 Genesis 3.8 AWD, Signature Package (MSRP: 46,100), 10K/36mo
Their offer was $335/mo + $2,000 for Drive-off
However, they did not wanted to break down the cost, which I felt frustrated.
Thank you for in advance.

Lucky for you, that there are A LOT of dealerships in the NY Metro Area. Call or email different dealers and you'll find out.

Most times with a lease, the drive off costs are 1st month's payment ($335 in your case), Security Deposit (usually 1 month, so say $335 in your case), lease Acquisition Fee (Not sure what Hyundai Financial charges, but use $700 as a ball park), and DMV Fees (plates, registration). You need to know the specfics of the $2,000 drive off because you want to make sure it DOES NOT include a "Down Payment (otherwise known as a Capitalized Cost Reduction) or Taxes.

Check back with the board and let us know how you make out! Good luck!

carookie11

NYCCARGUY - I'm new to leasing as well and find much of the jargon confusing. Can you please explain why Capitalised cost reduction or taxes are to be not included in drive off price? Is there a good primer on the forum on the basics of leases and lease negotiation?

Incidentally I had similar experience as NYMINJ with regard to getting breakdowns from a NY area dealership. I walked and will try another dealership. Last question: what is MF and Res for 3.8L AWD in NY and NJ. Thanks for all the help.

Michaell

carookie11 said:

NYCCARGUY - I'm new to leasing as well and find much of the jargon confusing. Can you please explain why Capitalised cost reduction or taxes are to be not included in drive off price? Is there a good primer on the forum on the basics of leases and lease negotiation?

Incidentally I had similar experience as NYMINJ with regard to getting breakdowns from a NY area dealership. I walked and will try another dealership. Last question: what is MF and Res for 3.8L AWD in NY and NJ. Thanks for all the help.

Good articles to show you the basics of leases here:

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

36/15 for 3.8 AWD are .00035 and 55%. $3500 lease cash.

nyccarguy

@carookie11 - welcome to edmunds. Leasing is just an alternate way of financing a vehicle. Instead of writing a check for the full purchase price of the vehicle or financing the cost of the vehicle for the traditional 60 months, you are paying for the depreciation of the vehicle plus a "rent" charge (which is a finance charge).

An educated consumer can find leasing beneficial. An uneducated consumer can be taken for a ride to the cleaners by an unscurulous dealership looking to take advantage of a "payment shopper."

"Capitalized Cost Reduction" or Cap Cost Reduction is a "down payment" you make to make your lease payments less per month. You should make a $0 Capitalized Cost Reduction for your lease because if you drive the car off the lot and it gets stolen or totaled that day (or at any point during the lease), you'll lose that money. So make sure you tell the dealership $0 Cap Cost Reduction.

You should roll your taxes into your monthly payment for the same reason. You pay your taxes up front, the car gets stolen or totaled at any point during the lease and good luck getting that money back from Governor Cuomo (he needs it to build the new Tappan Zee Bridge).

Residual Value is set by the finance company. For a 36 month/12,000 mile per year lease the Genesis 3.8 AWD with Ultimate Package (for Southern California, our numbers here on the east coast may be different) has a 57% residual value. At the end of the lease this means you will have the option of buying the car for 57% of it's original sticker price. You will only pay for 43% of the car's MSRP.

Money Factor: This is a fancy word for interest rate. Using the Southern California numbers @Michaell posted above, the Genesis 3.8 AWD Ultimate Package has a .00035 money factor. Multiply .00035 x 2400 and you get 0.84% interest rate that you will be paying for the 36 month lease. Dealers will try to mark this up on you to make additional profit. As long as you have top tier credit, politely tell them you will not sign any deal with a marked up money factor.

Go about negotiating your lease just as you would a purchase. Invoice price minus lease cash is an excellent starting point. Make sure you are being charged the base money factor. Tell them you want your taxes rolled into the payment. Your only upfront costs should be Acquisition Fee, 1st Month's Payment, DMV Fees, & Security Deposit. Dealers like leasing because so many buyers are solely focused on "the payment."

If you are buying in NJ or CT, they DO NOT have laws that limit "dealer doc fees" that are pre-printed by dealers on their paperwork. In NY doc fees are capped at $75 I think. It could cost you $300 - $500 more (plus your time). Write everyone's numbers down on paper.

Leases have lots of moving parts. Money Factors, Selling Prices, Acquisition Fees. This is a fantastic weekend to buy a car. Start sending emails to different dealers and let us know how you do! Good luck!

carookie11

Thanks, this is great info and makes things a lot clearer - in a few days I'll start sounding like you guys!:) I'll start calling around and report back on what I find.

Michaell - what is MF, Resi and lease cash for 36/12K? Gensis 3.8LAWD NY/NJ, Thanks

Michaell

carookie11 said:

Thanks, this is great info and makes things a lot clearer - in a few days I'll start sounding like you guys!:) I'll start calling around and report back on what I find.

Michaell - what is MF, Resi and lease cash for 36/12K? Gensis 3.8LAWD NY/NJ, Thanks

36/15 for 3.8 AWD are .00035 and 55%. $3500 lease cash. Add 2% for 12K

nyccarguy

@carookie11 - I'm not sure which options you are going for, but I took the liberty of working up some mach (YMMV) lease numbers for a 2016 Hyundai Genesis 3.8 AWD with Automate Package (hey, its not my car so I might as well check all the option boxes). I built it right here on edmunds.com

MSRP: $53,100
Selling Price: $46,042 (dealer invoice of $49,542 minus $3,500 lease cash)
Money Factor: .00035
Residual Value: 57% (36 months/12K)

I plugged these numbers into lease guide.com's lease calculator and it spit $464.90 plus tax out at me. Let us know how you make out.

nyminj_

@nyccarguy Thank you for your help! Unfortunately, they did not come back with information.

nyccarguy

nyminj_ said:

@nyccarguy Thank you for your help! Unfortunately, they did not come back with information.

On to the next dealership!

schoolbob

Does anyone have the MF and residual on a lease of the 2016 Genesis AWD Ultimate for the Denver Colorado area? Thanks in advance!

nyccarguy

schoolbob said:

Does anyone have the MF and residual on a lease of the 2016 Genesis AWD Ultimate for the Denver Colorado area? Thanks in advance!

How long & for how many miles per year?

schoolbob

nyccarguy said:

schoolbob said:

Does anyone have the MF and residual on a lease of the 2016 Genesis AWD Ultimate for the Denver Colorado area? Thanks in advance!

How long & for how many miles per year?

I am thinking 36 months 12 or 15k miles. Thanks!

kyfdx

schoolbob said:

nyccarguy said:

schoolbob said:

Does anyone have the MF and residual on a lease of the 2016 Genesis AWD Ultimate for the Denver Colorado area? Thanks in advance!

How long & for how many miles per year?

I am thinking 36 months 12 or 15k miles. Thanks!

.00035 MF and 57% residual for 36/12. $3500 lease cash.

Subtract 2% for 15K/yr

acurat

Still enjoying my 2016 Genesis 3.8RWD Tech. Very helpful and accurate info on this thread.

Let me remind anyone who is shopping actively that the launch of the Genesis brand is coming soon. So dealers are motivated to move remaining inventory. My recommendation is to calculate selling price using dealer invoice as a baseline. From there, subtract known incentives such as lease rebate and competitive owner or loyalty (currently $3500 and $1000 respectively). Next, Hyundai dealers have a holdback of 3% of MSRP. They HATE to give this up or even discuss it; understand that even at "cost" they are making $1500 on a $50K car. Finally, dealers get a certain number of $500 "certs" (certificates) from Hyundai that they can stack to bring the price down further. Some rebates are taxable in some states. Compare apples to apples by totaling up the drive-offs and the sum of remaining payments and fees to get the total 3-year leasing cost. Dealer add-ons are full of trickery and a big source of profit. Just say NO!! And remember the excellent advice that any cap cost reduction must come from the dealer, not the buyer. Forget the term "down payment" if you are leasing. It's drive-offs, and they should be only first monthly payment, acquisition fee, DMV and a small doc fee. No more than $1000-1500 in general.

My own deal was not quite as skinny as some reported here. With the current incentives, highly subsidized MF and artificially high residuals, you should be able to bring that lease cost way down. And with these high residuals you are probably not going to purchase at the end of the lease. So have a plan to set aside money for the $400 return fee and to acquire your next car.

Good luck!

scatts

Hi all,
Does anyone have any info on when the new G80s are supposed to be available? Any word on pricing compared to 2016 models?

Steve

edgeskeez

Hello,

Can i please get the numbers for for a 2016 genesis (all trims) for 36/10 and 36/15 for socal?

Thanks in advance!

klnmcmg

MF and RV for Genesis 3.8 RWD in NC? 36/15

kyfdx

Sorry, but we don't have the new Hyundai programs, yet.

md1801

For those that it helps, here's some info in the midwest. This is the result of a little digging I've been doing.

2016 RWD: 36/10 56%, but not clear on the MF, $3,750 lease cash

kyfdx

Thanks for the info.

stuartlcole

What is a fair price on a 2016 Genesis AWD will all three packages. It is a "Demo" with 2800 miles on it?
List price is $53270. How is the depreciation on these?

jman216

Any other updates on July numbers?

Thanks

Michaell

jman216 said:

Any other updates on July numbers?

Thanks

We haven't yet seen the July lease numbers, sorry.

jman216

Michaell said:

jman216 said:

Any other updates on July numbers?

Thanks

We haven't yet seen the July lease numbers, sorry.

No problem thanks.

klnmcmg

July numbers available yet? If so, Genesis 3.8 RWD in NC, 36/15?

hudz2015

What are numbers on Genesis AWD 3/36 or 3/45?

Michaell

klnmcmg said:

July numbers available yet? If so, Genesis 3.8 RWD in NC, 36/15?

.00010 and 53%. $3750 lease cash.

Michaell

hudz2015 said:

What are numbers on Genesis AWD 3/36 or 3/45?

36/15 - .00027 and 54%. $3750 lease cash. Add 2% for 12K

ctnycdc

Michaell said:

hudz2015 said:

What are numbers on Genesis AWD 3/36 or 3/45?

36/15 - .00027 and 54%. $3750 lease cash. Add 2% for 12K

Are those numbers valid for Genesis w/ signature package? any additional rebates on higher trims? Do you have MF numbers for lower credit tiers? (680-690 score to be exact, nothing negative on credit, just high utilization from paying off investment property mortgage w/ 0% CC)

Michaell

ctnycdc said:

Michaell said:

hudz2015 said:

What are numbers on Genesis AWD 3/36 or 3/45?

36/15 - .00027 and 54%. $3750 lease cash. Add 2% for 12K

Are those numbers valid for Genesis w/ signature package? any additional rebates on higher trims? Do you have MF numbers for lower credit tiers? (680-690 score to be exact, nothing negative on credit, just high utilization from paying off investment property mortgage w/ 0% CC)

Individual packages and options do not affect the numbers.

MF goes up to .00054 with 680-690 credit score.

md1801

Can you confirm that this money factor of .00027 is valid in MO with a credit score of 700+?
Thanks in advance!

Michaell

md1801 said:

Can you confirm that this money factor of .00027 is valid in MO with a credit score of 700+?
Thanks in advance!

Consider it confirmed for Genesis AWD.

10sguru

Went to a dealer yesterday to get lease numbers on a 2016 Genesis 3.8L AWD with Ultimate Package. Parisian Gray and Ivory/Ivory interior. Loaded except for mud flaps.

MSRP: $53,285
Dealer sale price: $49,986
Lease Cash: $3,500
Competitive buyer: $1,000
Selling price: $45,486
Money Factor: .00067
Residual Value: 57% (36 months/12K)
Offer: $550/mo (Includes acquisition fee, tag/title/registration, doc fee & sales tax)
Drive off: $800 - First month's payment and cap reduction tax (tax on rebates)

After pouring through all the posts in this forum I have determined that this offer is a bit on the high side but in the salesman's defense he did say these were general numbers as they were just giving me a "ball park" figure and the actual numbers would be based on the credit report results. As a reult I have reached a few conclusions after reading the posts in this forum.

1. A FICO score of 725 or better should qualify me for the HMFC minimum MF. My most recent credit score number (6/28) according to my LifeLock account is Equifax at 719. I have two older scores (5/28) of 691 & 741 from Experian and TansUnion respectively. My historical score from Equifax going back to July of last year shows a high of 733 to the current 719 due to a couple of recent credit pulls over the last 2 months at Best Buy and a local furniture store.

2. It appears that the typical MF being offered for AWD Ultimates is .00035 and I seem to remember a post saying this is the lowest although I have seen lower factors posted for other trim packages.

In summary it seems that I am knocking on the door of being able to qualify for Hyundai’s minimum MF so I have a few questions. One, is the .00035 MF the lowest factor offered by Hyundai for a 2016 Genesis 3.8L AWD with Ultimate Package or is a lower MF available in Tennessee, depending on credit rating. Second, assuming my credit report would qualify me for a lower MF such as the .00035 shouldn’t this give me some negotiating power to get the monthly payment lowered. Third, if I can get the MF lowered does this seem to be a good deal? The selling price of $45,486 does reflect a 14.6% mark down from MSRP however when I run the Lease Hacker calculator based on the parameters at the top of my post which shows the higher MF of .00067 the monthly payment including tax comes out to $521 which is $29 lower than the quoted $550. At any rate I would be extremely appreciative if some of the lease experts on this forum would take a look at these numbers and let me know what you think. Thanks in advance for any advice. This is an awesome forum ;-)

Jim
Bristol, Tn.