Hyundai Genesis Lease Questions

toye · April 2009

V6 Tech package
I thought it was about the best I could get here in South Florida. I hear some dealer in WPB were marking up the Genesis by 5k. If the demand is building for car expect it to happen more often.

It took 2 plus hours to get that deal so it wasn't easy.

I have owned a 96' Accent, 00' Sonata, 04' XG350 and just recently a 06' Azera. Every car was a major step forward and now the Genesis just blows everything away including the competition.

bill2006 · April 2009

toye
That sounds like a fantastic endorsement of Hyundai. You have had almost every model. I have been following the Genesis since it started hitting the car mags. It sounds super. I think leasing will work for me.
I'll check in with that dealer on route 75 in Davie.
Thanks again
bill2006

markinfrisco · April 2009

Car man....

Does Hyundai still have the 27 month lease deals going on right now? I am wanting to lease the V8 with 15,000 miles a year.

toye · April 2009

Good Luck bill2006
There wasn't that much selection about 3 V-6 colors and 3 V8 colors left to choose.
I wanted a light exterior with a dark interior. Light interior shows dirt much more quickly.

roberts10 · April 2009

I am pretty sure all the 27 month leases are over. The best they have in the natinal ads in 36 month leases. I think the 27 month was just to push some cars out in the market.. It went from 24 month to 27 month, and now 36 month.

bill2006 · April 2009

Hello again to all
.
Just saw where Hyundai is offering a lease on v6 with tech package ie
Start: 04/01/2009 End: 04/30/2009 $499 Monthly Payment
36 Month Term
$2100 Down Payment
$0 Security Deposit
12000 Annual Mileage
Restrictions Lease is based on 2009 Genesis Sedan V6 equipped with Premium and Technology Package and $1000 HMFC origination support. Please see your dealer for complete details.
Comments $2599 due at signing. Dealer participation may vary. Incentives and Rebates are provided subject to the terms of our Visitor Agreement.

Well,I talked to a Hyundai dealer and he said it's really not $2599 at signing but really $4003.What Hyundai doesn't say in this info is that these numbers don't include the following items:
$ 331 for the Department Of Motor Vehicle (new tag, battery fee, tire fee, etc.)
$ 595 Acquisition fee from Hyundai Motor Finance, $ 478 dealer fee
This brings it to $ 4,003 total out of pocket including your first lease payment?????

Did you have to pay $595 Acquisition fee, $478 dealer fee, etc
Thanks

kyfdx · April 2009

The advertised lease includes the acquisition fee... So, they are trying to pack your deal with an extra $595 plus $478...

Can't do much about the government fees, though...

kingpcgeek · April 2009

You need to ignore specials like this since you have no idea what the purchase price of the car is, which is the most important item. Negotiate the price of the car first and foremost. After that using the MF and Residual numbers you can get here you can figure out a lease payment

bill2006 · April 2009

Thanks kyfdx

That's what I thought. The $499/month with 2100 +499 up front sounds ok(but not great) but not that other junk. Thats what Hyundai USA is pushing with participating dealers.
I know I have to pay the tax and motor vehicle fees.
I love this Forum

kingpcgeek · April 2009

Any leasing expert will tell you do not do a cap cost reduction (the $2100 - $595). The disadvantage of a cap cost reduction is that, should your vehicle get stolen or totaled in an accident, you probably won't get any of the down payment returned to you.

If you are worried about higher payments take the money that you would have put down to cut the payment in a higher interest savings account. If and when you need to make a lower car payment take some of the money out of savings to help with the payment.

toye · April 2009

Ok I just got my papers...

3.8 V6 Tech package

$595 Acquisition fee
$1000 Rebate
$2500 Downpayment including first month payment $511
$252.33 Misc product fees (maybe the wing badges for hood, trunk & wheels
$168.50 Tag fee & surcharge (used my present tag and may get few $'s back

15,000 miles per year

$511.67 35 payments 49% residual
$19,248 + tax payoff after 35 months.

There a $400 disposition fee at the end of the lease (I read that this is standard in and earlier post)

Remember this was my 5th Hyundai in 13 years and I didn't budge, which took long to deal.

Another surprise...... My insurance with Allstate went down by nearly 25% they also lowered my deductable by $100 and will continue to go down every year until it's $0 and put me on the accident forgiveness plan, meaning I will be forgiven 1 accident and it will not affect my rate all because the insurance industry believes the Genesis is a safe automobile.

I hope this helps..

kingpcgeek · April 2009

Didn't see the most important number there. What is the selling price of the car? I have to tell you though, looking at those numbers a Genesis sedan is one car I will not be leasing. $2000 down (which as I already said is a horrible idea) and you still have plus $500 payments, no thanks.

toye · April 2009

$39,419.39
-1,000.00 rebate

$38,419.39

dborth · April 2009

I just returned an '07 Azera leased through HMFC and wanted to share the following conditions applicable to my lease.

1. Under no circumstances will HMFC allow you to extend a lease.
2. At lease end there are 2 options, return or purchase at residual value stated on lease contract.
3. If purchased, HMFC Fountain Valley requires cashiers check, money order, wire transfer.
4. HMFC will not finance a lease return / purchase.

kingpcgeek · April 2009

$1000 over invoice AFTER a $1000 rebate? Sure doesn't sound like a good deal in this day and age. You can lease an Infiniti or Lexus at invoice and get a much higher residual at the same time.

bill2006 · April 2009

Kingpcgeek
Read your comment about negotiating price first.After I thought about that it makes a ton of sense. Maybe that's my problem trying to do the lease calculations.

When I do my the lease calculation does the negotiated price price gets slipped in where the MSRP price is to start the calculations?

I have Not been able to come to the same numbers as people quote on their lease.

HELP
bill2006

toye · April 2009

Thanks for your imput... but I'm very happy with my the purchase of the Genesis. I 'm amazed with all the comfort, technology and driving experience. If this automobile holds up like I expect it to then the $19,300 at the end 35 months will be very, very reasonable.

kingpcgeek · April 2009

The MSRP is always used to calculate the residual.

bill2006 · April 2009

Picked up my Genesis V6 with tech today. Wonderfull car. White Satin pearl with beige interior. Great experience with Tamiami Hyundai in Naples Fl. Salesman was Manfred Nelles.Best car experience I've had.

I was concerned about some of the things I've heard about Hyundai Dealers. This guy was a class act. Knowledgable, honest, and a very pleasant person. Anyone looking for a Genesis in Southwest Florida will be happy with Manfred.

Now, if the car performs as I think it will, I will be a very happy person.

Thanks for all the help from this forum.

bill2006
.

kingpcgeek · April 2009

So you totally missed the big orange letters above your post that said to not post names of salespeople?

toye · April 2009

Congratulations on your new Genesis!

I've been having a ball getting aquainted with my new car. I'm finding the Technology on this car incredible and intuitive. Put in a DVD while you are in park and you'll hear just how incredible the surround sound really is.

So far this car is incredible!!!

CarMan@Edmunds · April 2009

Hi cpaman. I saw the Genesis at the NYIAS as well. I was very surprised at how nice a car it is. The Genesis Coupe is very nice as well.

Hyundai Finance is only currently providing support on 36 month leases of the 2009 Genesis Sedan. Its current buy rate lease money factor and residual value fro a 36 month lease of a 2009 Genesis Sedan V6 with 15,000 miles per year are .00060 and 48%, respectively.

When negotiating the capitalized cost for this car, make sure to take advantage of the $1,000 cash incentive that is currently available on leases of it.

Tthere's nothing wrong with leasing through independent banks but I doubt that you will be able to come even close to the payment that is available by using Hyundai's official special lease program.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds · April 2009

Hey cpaman. Different states use different methods for calculating sales tax on leased vehicles. There are three main methods of doing so (I suppose that you could say that there are four if you count the states that don't charge sales tax at all).

In the first, the state taxes the payment and down payment. The last time that I checked, most states, including Florida, Georgia, Missouri, Connecticut, and California use this method.

The second way is to tax the entire selling price of the vehicle. Again the last time that I checked, this is how sales tax is calculated on leases in states like Illinois, Texas, and now Ohio.

Lastly, some states only tax the depreciation portion of leases. This is tax is calculated on leased vehicles in New Jersey.

I am not sure exactly how sales tax is calculated on leased vehicles in New York, but you may be able to find out by visiting one of the following sites:

New York Department of Motor Vehicles

or

New York State Department of Taxation and Finance

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds · April 2009

Congratulations on getting your new Genesis, toye. Thanks for taking the time to share the details of your lease with everyone. Real world examples like this are always tremendously helpful for people who are in the market for similar vehicles.

If you haven't yet, make sure to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others.

Thanks again and enjoy your new ride :shades: !

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds · April 2009

Hi markinfrisco. Hyundai is actually promoting a 36 month lease on the Genesis Sedan instead of a 27 month lease now. Hyundai Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Genesis Sedan V8 with 15,000 miles per year are .00090 and 46%, respectively.

When negotiating the capitalized cost on this car, make sure to take advantage of the $1,250 cash incentive that is currently available on leases of it.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

markinfrisco · April 2009

I just called a couple dealers here in the Dallas/Fort Worth area. They told me that they are NOT offering leases on the Genesis. Purchase only is what they told me. They said Hyundai USA offered either the special financing rates through purchases or through leases and they only allowed each region to pick one. The region that covers Texas said they decided on purchases only.

If that isn't the dumbest thing I have ever heard... I don't know what is?? I use my car for business purposes and only lease vehicles. I guess Hyundai USA won't be getting my business as they have now tried to put every customer into a small box. It just doesn't make sense to me.

Anybody else heard this before?

Mark...

kenb757 · April 2009

If they fix the suspension, I'll consider the Genesis for my next car, and if I decide on the Genesis, I'll go out to CA to lease the car and drive it back to TX.

bill2006 · April 2009

I was ready to say I didn't see the big orange letters stating no salespeople names.
When I went to post that comment, then I saw the big orange letters.
Sorry.

toye · April 2009

You were happy with the buying experience and got a fine automobile. Nothing to be sorry about. Give the dealer a good review the section where you can rate your buying experience in Edmunds

cpaman · April 2009

Hey guys, just to keep you up to date, today i signed the contract and made my deposit on the Genesis 3.6 B/B with tech package in NY. I pick up the car on Thursday. I am extremely excited, i am looking for some accessories for the car, namely the hood and trunk emblems along with the illuminated door sills, front and back door, along with the chrome kit which are the extras that come with 4.6 w/tech (from what i heard), does anyone know where i can get those accessories from to put on my new car. Otherwise, like i said i am excited to get my car this Thursday.

CPAMAN

toye · April 2009

Go to Ebay for the hood,trunk, steering wheel, and hub caps emblems. Several sites will be able to help you. I don't know if you can get the illuminated door sills as that only comes from the factory for the 4.6. I may be wrong. Good Luck on your fine new automobile.

markinfrisco · April 2009

Unfortunately, if you live in the SW region for Hyundai, Hyundai USA will not approve a sale to anyone that lives in that region using a lease if the financing arm of Hyundai is involved in the transaction. They told me that a few people in Texas had gone to places on the east coast to lease and were denied.

The Next Lexus? I don't think so.

cpaman · April 2009

I've never used Ebay, haven't heard of many good experiences, i heard too many stories of people gettin ripped off, do you agree? Is there another source i could use? I would really love to get the door sills and the emblems.

CPAMAN

toye · April 2009

Alot of legitimate companies use ebay to sell their wares. You may referring to about private individuals inregarding problems. I will be getting the Genesis steering wheel badge ($15.95) soon and I will be using Ebay to make it happen.

cpaman · April 2009

Toye,

What company are you using for the steering wheel emblem? I am looking to get that as well eventually, i really want the hood and trunk emblems first then the illuminated door sills. They look hot on the 4.6.

CPAMAN

toye · April 2009

Go in to ebay and type in "hyundai genesis steering wheel badge" and you should find few companies that deal with the hood, trunk, wheel and steering wheel.

tenpin288 · April 2009

Here's a vendor with some of the items you are looking for.

KAI

cpaman · April 2009

Well i picked up my car today and i am in love. The car is incredible, hell it sells itself, not too happy with the dealership i used - Curry Hyundai in Peekskill NY but it's over now and i have my car. I have been reading the blogs about the bouncy suspensions and i must admit the ride is rather bouncy on uneven roads and it is very noticeable. But when the roads are smooth or not so uneven it feels like I'm gliding on air, i think there are some hydrolics or something because the seats and ride is cushiony (is that a word,lol) I felt a little bit of this when i test drove the car so i was not too surprised, it wont stop me from driving it though, i love it. I now all i need are the emblems and i'll be set.

jugator1 · June 2009

Hi Car_Man,

Would you please post the June money factor and residual value for the 2009 Genesis 4.6 w/Tech package for a 36/12k term?

Thank you.

newser · June 2009

I was wondering what info I could get for the lease of a V6 Genesis in Southern California

tmd820 · July 2009

Hi Car Man,

Can you help with the numbers (residual, money factor, current incentives etc.) for a 2010 Genesis Coupe? My wife is interested in leasing one with a 2.0/Premium package. She went and test drove one yesterday and fell in love with it.

Any help will be greatly appreciated.
Thanks, Tom

CarMan@Edmunds · July 2009

Here you go, jugator1. Hyundai's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Genesis Sedan V8 with 12,000 miles per year are .00070 and 46%, respectively. When negotiating your lease on this car, make sure to take advantage of the $1,250 cash incentive that is currently available on it.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds · July 2009

Hi newser. I can provide you with information on this car's lease program and incentives, but its monthly payment will depend upon the MSRP and selling price of the exact unit that you want.

Hyundai's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Genesis Sedan V6 with 15,000 miles per year are .00019 and 46%, respectively. When negotiating your lease on this car, make sure to take advantage of the $1,000 cash incentive that is currently available on leases of it.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds · July 2009

Hello Tom. Hyundai's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Genesis Coupe 2.0 Premium with an automatic transmission and 15,000 miles per year are .00134 and 55%, respectively. When negotiating your lease on this car, make sure to take advantage of the $1,000 cash incentive that is currently available on leases of this model.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

ghetto2315 · July 2009

Car_man, you've been a big help so far and have had my family and friends purchase many cars due to your info (mostly the Honda Civic).

Can you help me on Residual, MF and any Dealer Cash for a Genesis COUPE 3.8 Track with Manual Transmission? Is it the same as 55%, .00134 and $1,000??

Figuring a standard lease term of 36-months, however, I either need 15,000 or 20,000 miles per year.

Thank you!

CarMan@Edmunds · July 2009

I'm glad that I've been able to help you and your family out. Hyundai's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Genesis Coupe 3.8 Track MT with 15,000 miles per year are .00134 and 53%, respectively.

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

When negotiating the capitalized cost for this car, make sure to take advantage of the $1,000 cash incentive that is available on leases of it right now.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

mgott23 · July 2009

2009 Genesis sedan lease questions v8 w/ everything

purchase price 38030 (sticker 42100)

3 years, 18000 miles per year , residual .45, money factor .00099,

0 down not even taxes = 708 per month

2500 down = 636 per month

seems a little high to me? what is IR basded on MF? Any advise is appreciated

kingpcgeek · July 2009

Money Factor * 2400 = Interest Rate
.00099 * 2400 = 2.376%

18,000 miles is costing you a lot, chances are you are prepaying for the miles at a discounted rate over 15,000 since most leases only go up to 15k. The residual of 45% is low for a "luxury" car. Hyundais have been and still are poor cars to lease because their residuals are so bad.

mgott23 · July 2009

thanks, I might try for 15K and see what it does. Do you think that at 18k it's a bad deal.

tjc78 · July 2009

Residuals have dropped on everything. Go look at the ES350 leasing board. Its carrying the same mid 40s residual values. Right now the only attractive leases anyone will receive is with low (subsidized) money factors that equal 1 - 2%. When I leased my Avalon back in 06 the residual was 56 or 57%. My Genesis was 49% at 12K/yr, however the money factor was low enough to make it worth it (.0006).

Hyundai Genesis Lease Questions

Comments

Helpful Tools

Most popular vehicles