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Hyundai Genesis Lease Questions
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Comments
Reference Car_man's posts 144/145 I think the MF the dealer is quoting you is a bit high. Also, there is a rebate available on leases as well.
2023 Mercedes EQE 350 4Matic / 2022 Ram 1500 Bighorn, Built to Serve
I just joined after going to a dealership today in search of a Genesis Coupe. I have got an offer for the Genesis Coupe 2.0 Premium Automatic for 3500 Down and $329/month for 36 months with 15K miles.
Is that a good offer or should I be paying less. I have already put down a deposit on the car as someone else almost purchased it. Please advice.
Perfect explanation from leasecompare.com:
Because you pay for the use of a vehicle during a lease, you should put as little money down as possible, up front. Although putting money down can lower your lease payments (by reducing your capitalized cost) in most cases it cannot be regained in the event of early termination due to a loss.
For example, a customer once leased a Toyota 4Runner and put $3,000 down as a cap reduction. Five months later the vehicle was totaled in an accident. The client's insurance paid its portion of the lease payoff and Gap Insurance paid the balance. Our client walked away with only paying his insurance deductible but he did not get reimbursed for his initial down payment of $3,000. It was lost.
The moral of this true story is to put as little money down as possible,ideally no money down. Here are some other things to consider:
- Money down is taxable
- Take the money you would have put down and invest it
- Put your down payment in a savings account and use a portion each month to help make your lease payment
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
Having said this, keep in mind that this is just an educated guess and no one knows for certain exactly what manufacturers will do with their future incentives programs.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
As far as the rest of this lease goes, it is difficult to tell how attractive this deal is without knowing what this car's MSRP and selling price are. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Let us know what these numbers are and I'm sure that either myself or another helpful community member will tell you what they think.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
I didn't talk price to the sales manager the car stickered for $40150.00 and all I was interested in was my down payment and monthly payment. The deal they gave me was $525.00 down which included my 1st month payment tax, title, etc and 35 more lease payments of $525.00 including sales tax. The lease is for 15000 miles per year. I did talk them into putting the wing badge kit on the wheels and trunk as part of the deal they said that the badge package was a $400.00 plus option. I have given them a deposit of $525.00 while they get the car from another dealer but I have not seen any of the lease paper work to know the selling price, money factor, etc. I won't see that until they get the car and I'm ready to take it home. The sales tax rate in my county is %6.75 Thanks for any advice you can give me.
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
I would think that Car_Man or someone out there could say if they thought this was a good deal based on the sticker price and the monthly lease payments I would be paying for the 36 months and 15000 miles. I was hoping someone could tell me what their money down and monthly payment and mileage was so I could compare before I sign my lease. Thanks if you or someone could give me some input.
jjjones
Having read hundreds of posts from Car_Man I can tell you he will not tell you if it is a good deal without knowing the selling price. It would behoove you to find out the selling price and its relation to invoice. MSRP is a worthless number now days except for calculating the residual of a car.
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
MSRP.....................................$40,150
Residual..................................$18,469 (46% of MSRP)
Capitalized cost.......................$36,269 (90.3% of MSRP or $1,900 below invoice*)
Money factor............................0.00019 (4.46% APR)
Lease term...............................36 months
Based upon the above, the monthly payment would be approximately $507 (not including taxes and other fees) Calculations assume an ordinary annuity but lease type arrangements normally use annuity due, which would be slightly higher.
I hope this helps.
I get 505 with a MF of .00019.
I get $598 with 4.46% interest
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
My bad, that should have been 4.56%
.00019 x 2400 = .456
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
2023 Mercedes EQE 350 4Matic / 2022 Ram 1500 Bighorn, Built to Serve
Thanks
2k down 15k miles per year $486 + tax per month 36 mnth. 19k to buy after 36 month.
Probably better now as they want to move stock before 2010 arrives.
Love my Genesis...no issues at all so far 7000 miles on it.
Thanks!
2023 Mercedes EQE 350 4Matic / 2022 Ram 1500 Bighorn, Built to Serve
Thanks again
2k down 36ms 3.8 tech package (have them throw in the wings front, back and wheels. don't pay over $475 including tax.
They have 12-15 Genesis on hand as of last weekend
Good Luck
Genesis 3.8 premium + package = MSRP 36100.00
INTERNET PRICE =34453.00
The lease on the Genesis is a 36/12 with 2999.00 top your payment tax in would be 487.76 tax in on the prem +
Seems high? I asked him for the residual and MF for this car and waiting to hear back.
What are your thoughts?
Because you pay for the use of a vehicle during a lease, you should put as little money down as possible, up front. Although putting money down can lower your lease payments (by reducing your capitalized cost) in most cases it cannot be regained in the event of early termination due to a loss.
For example, a customer once leased a Toyota 4Runner and put $3,000 down as a cap reduction. Five months later the vehicle was totaled in an accident. The client's insurance paid its portion of the lease payoff and Gap Insurance paid the balance. Our client walked away with only paying his insurance deductible but he did not get reimbursed for his initial down payment of $3,000. It was lost.
The moral of this true story is to put as little money down as possible,ideally no money down. Here are some other things to consider:
- Money down is taxable
- Take the money you would have put down and invest it
- Put your down payment in a savings account and use a portion each month to help make your lease payment
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
Your thoughts?
Currently have 4 dealers giving me OTD prices of $320 to $330/month incl tax, with $1500 down (incl 1st month payment) , residual $14782. Just about to do the deal but thought I'd check if anyone else has done any better recently ?
THanks!
I don't recall ever seeing a Hyundai Motors Finance lease with only 10,000 miles per year, but if it offers that mileage allowance, its residual values for it are likely 1% higher than its 12k resids.
When negotiating your lease on this car, make sure to take advantage of the $1,000 cash incentive that is currently being provided on leases of it.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Thanks,
any help would be great....thanks Car man
Not sure where the $33k is coming from, are you confusing this with the Track ? Would clarify this is a base Genesis Coupe 3.8 Auto. The purchase option I have is $24,449 on the car ($1600 below invoice, allowing for the destination charges which is being matched by all dealers I contacted).
Does this answer your question ?
Brgds
just realised you must be referring to the Sedan and not the Coupe.
Brgds
Cash Option
Vehicle Price: $37,726.50
DMV Fees: $519.75
Documentation Fee: $45.00
Tax: $3,112.44
Amount Due: $41,403.69
Rebate: $1,000.00
Balance Due: $40,403.69
Lease Options - 15K miles/yr
Out of Pocket 36 mos.
$3,000.00 $539.33
Money factor is .00019 and 15k miles per year is 18,081- residual with $3,000- dwn and $1,000- rebate from factory
This deal is in SoCal. How does it shape up?
Thank you!
I am looking at helping my local Hyundai dealership offload their last remaining V6 Genesis w/ Tech package in to my driveway
What is the MF and Residual on a 36/mo 15K miles/yr lease?
Are there any other incentives available for the '09 model? From what I've seen on this board, people are suggesting a negotiated selling price of under $35k for the '09 3.8 w/ Tech.
- pv
It's a no money down sign and drive, too.
This is for the Sedan, not the Coupe.
Thanks for the heads up. I'm going to be traveling quite often so I think I can make good use of the navigation included in the Tech package. That base model lease sounds quite nice though.
What area are you in?
I'm in the Bay Area, CA. (coincidentally I know a Mike Martin in the Bay Area who is in the car business)
Thanks for the heads up. I'm going to be traveling quite often so I think I can make good use of the navigation included in the Tech package. That base model lease sounds quite nice though.
What area are you in?
I'm in the Bay Area, CA. (coincidentally I know a Mike Martin in the Bay Area who is in the car business)
PV, right now I'm in LA. If you scour dealer print ads, you'll see Hyundai is trying to move the 09 Genesi with lots of incentives to the dealers on leases.
They won't deal as much on the tech packag optioned units though.
Looking at maybe doing a lease now if numbers are right (especially with my trade-in) or waiting as originally planned until next Summer.
I am contemplating waiting for 2010 as I hope they will run a new program on lease. The 2009's in v6 are few and far between.
Lease details:
MSRP $36,130 (incl. trunk tray, IPod cable, excludes wing pkg)
Net Cap Cost $32,708 (after $1200 down pmt, $1000 lease cash, plus the wing pkg)
Term 36 mo
Miles 15k/yr
Resid 45%
MF .00019
Total O-O-P $2,700 ($1200 down+dealer fee+tag+1st pmt)
Pmt $467 + tax