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Hyundai Genesis Lease Questions

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  • CarMan@Edmunds[email protected] Posts: 38,514
    Hey carman56. I think that what you see is what you get with Hyundai's incentives on the Genesis at this point. While anything is possible, I personally don't anticipate them making any significant improvements to this car's lease program in the near future.

    Car_man
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    Disclaimer: It is impossible to predict what automakers will do with their future incentive programs with 100% accuracy so don't blame me if a killer enhancement comes out tomorrow :).
  • CarMan@Edmunds[email protected] Posts: 38,514
    Hi newser. Manufacturers' official advertised lease payments never include local taxes or fees. You would have to add whatever sales tax and license fees that CA charges you to this deal.

    Car_man
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  • CarMan@Edmunds[email protected] Posts: 38,514
    Hi toottoot. The money factor and cash incentive that you mentioned in your post look great. They're right in line with Hyundai's current incentives for this model.

    That leaves this car's selling price as the most important remaining variable. It's excellent that you know what that number is and mentioned it in your post, but we don't have any reference point to compare it to. It would be much easier to tell how attractive this price is if we knew what this car's MSRP or dealer invoice price are. Let us know and I'm sure that either myself or another helpful community member will be happy to tell you what they think.

    Car_man
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  • CarMan@Edmunds[email protected] Posts: 38,514
    Hey projectvirus. Hyundai's September 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 45%, respectively. Hyundai is currently providing a $1,000 cash incentive on leases of this car.

    Car_man
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  • CarMan@Edmunds[email protected] Posts: 38,514
    Hi gponick. Hyundai's September buy rate lease money factor and residual value for a 36 month lease off a 2009 Genesis Sedan V8 with 15,000 miles per year are .00090 and 44%, respectively. When negotiating your lease on this car, make sure to take the $1,250 cash incentive that Hyundai is currently providing on it into account.

    Car_man
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  • CarMan@Edmunds[email protected] Posts: 38,514
    Hi bmb1767. Hyundai is currently providing lease support on both the Genesis Sedan and Coupe. If you describe the car that you are interested in I would be happy to give you an idea of what its current lease program is like.

    Car_man
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  • kwakasmithkwakasmith Posts: 29
    Has anyone heard what Hyundai are offering on the Genesis Coupe ? It was $1000 for Sep but would like to know if it's been tweeked for Oct.
  • rj123456rj123456 Posts: 140
    That MF is good at .00019 (less than 0.5%!) but a 44% residual ouch...
  • kyrogokyrogo Posts: 4
    I am also curious as to what kind of incentives Hyundai is offering this month. I'm looking to buy a Genesis Coupe this month (either the 3.8 GT, or 3.8 Track with or without navi). Also, is this rebate incentive applied on top of the negotiated price? I have Associate pricing on Hyundai's, so I'm wondering if this $1,000 can be applied on top of that.

    Also, Carman, could you please post the current lease rates for these models? I appreciate your assistance.

    Thank you,
    Kyle
  • kwakasmithkwakasmith Posts: 29
    For me it was part of the final negotiated lease price. I'm not sure whether it also applies to an outright purchase. It may just be an offset by the manufacturer as you can't take advantage of the sales tax rebate (valid to year end) on a lease.

    Good luck.
  • CarMan@Edmunds[email protected] Posts: 38,514
    Hi Kyle. The $1,000 that kwakasmith mentioned is only available on leases of the Genesis Coupe. However, in the south central U.S. Hyundai does have a $1,000 dealer cash incentive on this car...probably because its special lease program on it is not available in that area.

    Hyundai's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Genesis Coupe 3.8 GT with 15,000 miles per year are .00134 and 54%, respectively.

    The numbers for an otherwise identical lease of a Genesis Coupe 3.8 Track are .00152 and 54%.

    The money factors for models that are equipped with navigation are the same, but the residual values drop by 1% on the GT and 2% on the Track when this option is added.

    Car_man
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  • redsox2007redsox2007 Posts: 1
    2010 4.6 with Tech badge kit & Pack, 6% sales tax
    Dear Eric
    For your information,... a 2010 will lease better than the 2009:

    36 months, $2000.00 cash out of pocket,... plus whatever the tag fees will be, and you are at $654.00/month, tax included with the badging you requested.

    I am looking forward to hearing back from you.

    Sincerely,
    Paul
  • greenturtlegreenturtle Posts: 8
    I'm looking into he 2010 Genesis 4.8L sedan. Does anyone know the MF and residual for this?

    thanks
  • audiobuffaudiobuff Posts: 9
    I don't know if it goes by state, but I leased a 2010 4.6 here in California on Oct.1st; MF was .00122, residual for 15K miles was 48% with $1000 lease cash from Hyundai.
  • greenturtlegreenturtle Posts: 8
    Audiobuff- were you able to negotiate down from MSRP? If so, how close to invoice? Thanks, also I'm in Los angeles, which area was your car from?

    Car-man - did you get different buy rates for Oct. For the 4.8 sedan 2010? Thanks
  • lhattenlhatten Posts: 3
    I am looking to lease a 2009 or 2010 4.6 or 3.8. Does of any one have the difference in residual and money factors. for 36 months 15K a year? Thanks
  • audiobuffaudiobuff Posts: 9
    I offered them $800 over invoice and they took it. I probably could have stalled, but my lease ran out that same week on an Acura RL so I was caught between a rock and a hard place. I am in the San Jose area.
  • gponickgponick Posts: 5
    Audiobuff,

    What was your final negotiated price(before taxes) then? Was this the 4.6 with Tech or just the base 4.6?

    Thanks!
  • greenturtlegreenturtle Posts: 8
    2010 4.6L w/ Tech
    Here's what I got in Los Angeles area.

    Cap Cost $40,523
    Down payment $0
    MF 0.00112
    Residual 48% on 15K miles
    Plus $1000 Hyundai Rebate
    Out the door was ~$300 for tags, 1st pymt ($1000 rebate was applied to that)

    This was $500 below invoice. I am very happy with our deal, considering this model is just released. I went to one other dealership that didn't even have any 2010 4.6 in stock. I did not know about a $1295 holdback until after the deal was agreed too, but the salesmen were very cooperative and I'm happy with them making $800. Though, I wonder if I asked for $1000 below invoice if they would've gone for it..hmm...

    For October, Hyundai's buy rates are:
    2010 4.6L: MF 0.00112 with residual 49% for 12k miles, minus 1% for 15K miles
    2009 4.6L: MF 0.0009 with residual of 45% for 12k miles.

    I didn't know about the $400 disposition fee for end of lease though.
  • walt1walt1 Posts: 9
    So what is your monthly payment GreenTurtle?
  • greenturtlegreenturtle Posts: 8
    monthly payments are $625 + tax, so about $680 (LA county in CA is 9.75% tax.)

    Hyundai has a current lease special of $499/mo for the 4.6L 2010, but that's w/o tech pkg, before tax, and with a $3000 down payment.
  • chiroman1chiroman1 Posts: 3
    Sounds like you got a great deal...I am also in socal...which dealer did you use?
    Are you happy with the vehicle right now? Thanks
  • jim_mckeonjim_mckeon Posts: 17
    I'm also in San Jose - can I ask which dealer you used?
  • greenturtlegreenturtle Posts: 8
    I went to the hyundai dealership in Cerritos, CA. The guys I worked with were very easy to deal with. Turns out they just bought the Hyundai franchise 1-2 months ago. The owner of that dealership owns a few other auto dealerships in that auto mall. I was there for about 3 hours and did not see another customer. So they may be trying to meet monthly quota numbers too, hence the deal. Just speculation.

    Good luck.
  • greenturtlegreenturtle Posts: 8
    I'm also very happy with the car. Rides very smooth, no problems with the suspension as people with the 2009 complained of. The adaptive cruise control is nice. I liked that the car was fully loaded at a great price, instead of being charged for every single extra feature. ie, BMW charges you for the ability to leave your key in your pocket and still open doors and start the car (forget the name of this) but this is free with the genesis.
  • chiroman1chiroman1 Posts: 3
    Thanks for the reply...I will go tomorrow to see if i can score the same deal...Just so I am clear was your deal with 12k or 15k miles? And you have a total of 35 payments? Thanks again!!
  • jim_mckeonjim_mckeon Posts: 17
    I was surprised to see that the MSRP and Invoice for the 4.6 Genesis w/Tech is about $2K higher going from the 2009 to the 2010, but with no apparent change in functionality. Is anyone aware of any functional improvements to justify this markup, or is it simply a case of old vs. new?
  • jim_mckeonjim_mckeon Posts: 17
    I just leased a 2009 3.8 Genesis w/tech from Capitol Hyundai in San Jose with the following terms:

    MSRP $40180
    Cap cost $36700 (~$600 below invoice)
    MF 0.00019
    Residual 46%
    Wear/tear coverage $603
    Payment $507 + tax

    Had a very smooth experience with these guys, and they were much more responsive than other dealers in the area. They have a few more 2009 left I think. Only question I had was whether the higher residual on the 2010 made up for the higher price and left the lease a wash vs. the 2009; something for folks to investigate.

    This car is just an awesome deal. I'm probably going to end up selling half a dozen via word of mouth. Go Hyundai!
  • greenturtlegreenturtle Posts: 8
    Chiroman1,
    My deal was for 15K miles.
  • greenturtlegreenturtle Posts: 8
    The 2010 version did fix tighten the suspension and add adaptive cruise control. Worth $2K? I guess that depends on the person.
  • chiroman1chiroman1 Posts: 3
    Thanks again greenturtle ...Got your same deal...We actually got 2 of them..They were great to deal with..Love the car..Thanks again!
  • CarMan@Edmunds[email protected] Posts: 38,514
    Hi greenturtle. Hyundai's October buy rate lease money factor and residual value for a 36 month lease of a 2010 Genesis Sedan V8 with 15,000 miles per year are .00112 and 48%, respectively.

    I mad to make some assumptions because you never mentioned how long you want to lease for or what mileage allowance you need. Let me know if you want something different.

    Car_man
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  • CarMan@Edmunds[email protected] Posts: 38,514
    Greetings lhatten. Hyundai's October buy rate lease money factor and residual value for a 36 month lease of a 2010 Genesis Sedan V6 with 15,000 miles per year are .00149 and 51%, respectively. The numbers for an otherwise identical lease of a 2010 Genesis Sedan V8 are .00112 and 48%.

    Hyundai's October 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 45%, respectively. The numbers for an otherwise identical lease of a 2010 Genesis Sedan V8 are .00090 and 44%.

    Car_man
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  • bdudbdud Posts: 1
    10-22
    Yes, I had the same experience!
    I was denied a lease today on a genesis coupe after signing for it on tuesday with a near perfect credit score. Hyundai financing advised me to purchase, now I know why!
    Won't buy because I just formed a corporation and wanted a business lease. I love that car, what a shame.
  • kwakasmithkwakasmith Posts: 29
    has anyone heard what Hyundai are offering in terms of 'Lease Cash' for November ?
  • gforce11gforce11 Posts: 225
    How bizarre! Since when did Hyundai get into the business of financial advising?
  • CarMan@Edmunds[email protected] Posts: 38,514
    Hi kwakasmith. Hyundai is providing a $1,000 cash incentive on leases of the 2010 Genesis Coupe in November.

    Car_man
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  • cluedweaselcluedweasel Posts: 150
    Any word on Novembers lease details for the coupe? I'm looking at the 2.0T, 36 months, 12,000 miles p.a. Thanks.
  • kwakasmithkwakasmith Posts: 29
    Thanks Car Man. Still able to get the $5k below invoice on the Infiniti Coupe and $3k below invoice on the Sedan so now looking as though I'll be in-a-finiti !

    Cheers
  • wasabi911wasabi911 Posts: 53
    Hi Car_man. We're interested in a 2010 Genesis 4.6 w/ tech package. I was hoping you could provide me with the most recent MF and residual for a 36 mo, 12k mi lease. Are these numbers only valid until the end of Nov?

    Thank you and Happy Thanksgiving!
  • cluedweaselcluedweasel Posts: 150
    Went to have a look at the only Genesis Coupe the local dealer had - a 3.8 GT in Silverstone. I was really looking for a 2.0T but ended up with this puppy instead. The figures I ended up with were;

    Sticker Price - $29,875

    Negotiated Price - $26595

    Additional costs (title and other fees) - $720

    Down payment - $720

    Lease duration - 36 months / 12,000 miles p.a.

    Residual - 54%

    Money factor - 0.00134

    Monthly payment - $347.88

    I'm really happy with the car and think it's a decent deal. Hopefully this will help someone else out.
  • kwakasmithkwakasmith Posts: 29
    Greetings Car_Man. have a curly one for you. Any ideas on what Hyundai dealers may charge each other for a dealer swap ?

    Cheers
  • cluedweaselcluedweasel Posts: 150
    Just in case Car Man isn't around for a while. It varies from dealer to dealer. When I worked for Infiniti, there usually wasn't a charge if we could get a decent car in return. At Subaru, we'd charge $200 to cover the cost of sending someone to get the swap cars.
    Ideally, you shouldn't have to pay anything.
  • kwakasmithkwakasmith Posts: 29
    Thanks cluedweasel. PS, that's a Top handle !
  • tjc78tjc78 South JerseyPosts: 10,596
    My Genesis was a dealer swap and I was charged nothing extra. It came from a pretty good distance too.

    2017 Buick Enclave / 2019 Volvo S60 T6 Inscription

  • kwakasmithkwakasmith Posts: 29
    Tks. Helpful to know. Will see what comes back in the next day or so.

    Cheers
  • thinkingtlthinkingtl Posts: 3
    Anyone have any idea what the lease rates are for the base model of the genesis 3.8 2010 in nyc area?
  • kwakasmithkwakasmith Posts: 29
    The current price on the 3.8 Auto (Base) appears to be $1500-1700 down with $308/month + TAX, Residual is $14782, MF .00134. That includes all fees, MV & Tags. These rates are also available in NJ & PA. Of course there are also plenty of dealers that will only offer the current program on the 4 pot Turbo which is not that appealing.

    Recall these cars came out last Feb so Hyundai could in theory change the model year in 3 months ! That being the case you'd expect deals to start improving.

    Cheers
    Kwaka
  • dulnevdulnev Posts: 652
    It is a really bad idea to lease Genesis because of the miserable residuals. You're going to get similar monthly payments if you lease a loaded BMW 535i because they have a roughly 60% residual on the 5 series.
  • kwakasmithkwakasmith Posts: 29
    dulnev, look at it this way. The 535 has a whopping downpayment and a high monthly outlay. One the Genesis Coupe, if you buy over 5 years with a 5% APR, your payments would be $471.78/month assuming $25k for the car (excl tax as you offset this in your 2010 return). Over 3 years you pay $16,984 and the remaining balance (Nov 2012) is $10,754. Residual is $14,782 so net cost incl interest is $12,956 (assuming you paid off and resold for the resid amount at the end of the 36 months). That means the vehicle has cost you $360/month over the 3 years. Leasing at $308/tax month (35 x $330) with $1700 down = $13,250 (i.e., $368/month @ 1700 down or $363 month with $1500 down). For $3-$8/month variance, I would be inclined to lease leaving me with the option to hand back or buy out after 36 months with no major cost difference.

    Brgds
    Kwaka
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