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Hyundai Genesis Lease Questions

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  • chavogringochavogringo Member Posts: 1
    This is a great forum. Good job guys.

    I am looking for the new leasing numbers on the v6 with premium and 15000 miles. It is my understanding that the program changed on 2/2/09. What is the new residual value and money factor? Thanks for any help you can provide.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello aohurst. Yes, Hyundai is providing support on the V8 model. Its current buy rate lease money factor and residual value for a 27 month lease of a 2009 Genesis V8 with 15,000 miles per year are .00015 and 53%, respectively. This residual value would be 1% higher for a lease with only 12,000 miles per year. I'm not sure if Hyundai offers a 10k option, but if it does I have never seen anything about it.

    When negotiating your lease on this car, make sure to take the $1,250 cash incentive that Hyundai is currently providing on leases off it into account.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'm glad that you like this forum so much, chavogringo. Hyundai's February lease program for the Genesis is exactly the same as its January program was. Its current buy rate lease money factor and residual value for a 27 month lease of a 2009 Genesis V6 with 15,000 miles per year are .00015 and 56%, respectively.

    When negotiating your lease on this car, make sure to take the $1,000 cash incentive that is available on it into account.

    Car_man
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  • bp242_txbp242_tx Member Posts: 3
    Hi Car_man,

    Thanks for the info on the the Genesis leases. I am interested in leasing the V8 from Champion Hyundai in Houston, TX. I entered my zip (77581) in the "special offers" section on www.hyundaiusa.com and the special offer of $399.m for 27 months is offered. However, via email, the dealership is telling me that Hyundai is offering the whole country except the SE Region this deal and he then mentioned the low APR purchase rates. It sound like fishy to me as it contradicts their website. Do you have any insight on this?

    Thanks!
  • bp242_txbp242_tx Member Posts: 3
    Forget my question about the Houston lease program. I was looking at the website wrong. I am waiting to hear back from the dealer what they can actually offer. I will post it once I know.
  • anonymouspostsanonymousposts Member Posts: 3,802
    and was completely surprised what a great vehicle this is and how well put together it seems.

    The local Hyundai dealer offered me this deal ... not sure about it though ....

    2009 Hyundai Genisis V6 with premium and technology package

    MSRP: $40,000
    Cap cost: $37,223
    Due at signing: $0.00
    550 + tax per month

    We walked on the deal because I wasn't prepared to buy a Hyundai and didn't have time to do any research.
  • pk45pk45 Member Posts: 3
    I have a few questions regarding the leases offered by Hyundai Genesis V6 with premium package. Was working on a deal on Fri. and they did not know about the lease offer. After a hour they agreed but when we got to the end they wanted over $4000 down to get to the $419 lease payment. They explained that in addition to the $2599 down there was $799 dealer fee, $595 acquisition fee, $199 for title, doc, and tag, and $89 for dmv. I am worried that Hyundai won't extend the leases (today is the last day for this offer) but I want to know which of these are bogus, I was hoping the $2599 would cover everthing. I need help quickly
  • wgr3wgr3 Member Posts: 11
    Actually Car_man, the special residual and lease factor only apply at the 12,000 mile level, .00015 and 54% on the V8. A customer wishing a different term will not benefit from the lease rebate or lease factor. Extra miles are available at $0.15 per mile at inception.
  • wgr3wgr3 Member Posts: 11
    What state are you in?
  • pk45pk45 Member Posts: 3
    Florida
  • retail102retail102 Member Posts: 10
    I am a hyundai salesman. the 2599 covers everything. its 2599 DUE AT SIGNING.
    of the 2599 419 is 1st payment, 2180 is cap cost reduction
    0.00 security deposit.
    money factor for the v6 or the v8 is 0.00015
    for tier one credit.
    27 month lease 2599 due,
    419 plus tax
  • retail102retail102 Member Posts: 10
    With the way the lease is set up, no need for over 12k per year. do a 27 month lease, with the 2599 doe at signing, then finance 33 months after lease expires and save thousands, and keep warranty. after a 27 mo. lease on a 36 grand Gen. you can BUY for 20.5 grand
  • radu2radu2 Member Posts: 3
    What are the March residual and money factor on a Genesis 4.6 (V8) with Technology Package on a 36 month 15000 miles lease?

    Thank you
  • dborthdborth Member Posts: 474
    My 30-month HMFC '07 Azera lease terminates the middle of April. I recently received a cover letter and documents to complete pertaining to either the purchase of, or returning the vehicle.

    While I love the car, the last 29 months has proven than I really don't need a 4-door large sedan now, let alone a slightly larger 4-door like the Genesis. I am however interested in the just now starting to arrive Genesis Coupe.

    Here is the telephone exchange with a "customer service" rep. at HMFC Fountain Valley, CA:

    1. If I purchase, can I finance with HMFC? "No, we want cashiers check in full"
    2. I am interested in the new Hyundai Coupe but a reasonable selection won't be available locally by middle of April. Can I extend the current lease in anticipation of leasing or buying the new Coupe? "No, purchase or turn it in by the date specified on the lease contract"
    3. Are you sure about that? "Yes"

    One would think if a consumer is dropping off a lease return to the dealer, the manufacturer, and certainly the dealer would want that consumer to leave the dealer in a new vehicle of the same brand. I believe it's referred to as "loyalty".
  • kenb757kenb757 Member Posts: 149
    The next Lexus, huh? Maybe in Afghanistan.
  • sandy25sandy25 Member Posts: 65
    All the finance arms of the companies I've leased from were willing to work with me on extending a lease. I think Hyundai Finance has a strange attitude toward customers...as evidenced by the recorded message you get when you call and before being connected to a live rep...It more or less says "anything you say may be used against you"

    I think you may have better luck if you work thru your dealer. They are hungry for business.
  • dborthdborth Member Posts: 474
    "I think you may have better luck if you work thru your dealer. They are hungry for business"

    One would think so but in my case, the dealer that originated the lease is out of business. The dual brand dealer that has been servicing my Azera since probably doesn't know my lease is about to terminate, otherwise I am sure they would be hounding me.
  • thinker2thinker2 Member Posts: 1
    Does anyone know the money factor, residual, and lease term for the V6 with premium package. I am hearing that the money factor went up for March and the reisdual lower.
  • Gatorfan123Gatorfan123 Member Posts: 37
    Model: V-8 with tech package on a 36 month, 12k mile per year

    MSRP: $42,000
    selling price: $39650
    Net Cap cost : $38,400 ($39650 minus $1250 Hyundai lease incentive)
    Residual: 47%
    Money Factor: 0.00090

    Monthly payment is $570.66 a month plus sales tax.
    $1200 due at signing, which covers 1st month payment, tag, title and typical dealer fees

    Thinking about pulling the trigger, but I am a little apprehensive about the residual and money factor quotes.

    Anybody have any advice?
  • roberts10roberts10 Member Posts: 14
    I just leased a 3.8 liter and I have a .00060 Money factor... and a 49% residual after 36 month. I was told the rebate is $1000.00 not $1250.00. Hope that helps..
  • Gatorfan123Gatorfan123 Member Posts: 37
    I spoke with another dealer today, and he offered me a V-8/tech on a 36/month lease, I was able to negotiate a $562 a month plus tax with $1100 down, which includes first month payment.

    Afterwards, the dealer from my above post called and I told him thanks for working with me, but I decided to get the car at another place. Without even asking for a counter offer, he put the sales manager on the phone, and I was offered $1100 down and $551 a month plus tax.

    Here is the final numbers:

    Model: V-8 with tech package on a 36 month, 12k mile per year

    MSRP: $42,000
    selling price: $39000
    Net Cap cost : $37,500 ($39000 minus $1250 Hyundai lease incentive)
    Residual: 47%
    Money Factor: 0.00090

    Monthly payment is $552 a month plus sales tax.
    $1100 due at signing, which covers 1st month payment, tag, title and typical dealer fees.
  • w_palm_tigerw_palm_tiger Member Posts: 1
    Mind me asking where your located? I'm in the South Florida and the best offer I'm getting on a lease is for a selling price over $40 K. Your deal looks great!
  • Gatorfan123Gatorfan123 Member Posts: 37
    I live in North Central Florida. I purchased the car in Leesburg, Florida. My total payment with tax is $589. (sale tax in my county is 6.5%).

    I am sure the dealers here will make this deal again if you were interested in driving up here.
  • roberts10roberts10 Member Posts: 14
    Leased a Genesis V6 Tech/Premium plus.

    MSRP=$40,000

    Total Monthly Payment $488 for 36 months with Sales Tax included. $2500 down which includes first months Payment and the $595.00 acq. fee Dealer fees etc.. The deal included the $1000.00 Rebate Hyundai is offering on the V6. I think its a good deal for the car quality. What do you guys think?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi radu2. Hyundai's March 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 your lease on this car, make sure to take advantage of the $1,250 cash incentive that is currently available on leases of it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey thinker2. Here's the information that you're looking for. Hyundai Finance'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 .00060 and 48%, respectively. When negotiating your lease on this car, make sure to take advantage of the $1,000 cash incentive that Hyundai is currently providing on leases of it.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • drewpark21drewpark21 Member Posts: 42
    Hi everyone,

    I am looking to lease a Genesis V8 after testing driving one yesterday.

    Does anyone know what the best monthly lease payment out there?

    I have heard around $500?

    Anyone have any suggestions?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi drewpark21. This car's lease payment will vary depending upon what its MSRP and selling price is and what mileage allowance you need. If you provide me with these numbers, you can look up the pricing info right here in the New Vehicle Pricing section of Edmunds.com, I will be happy to use Hyundai Finance's actual lease program to work up a payment for you.

    Car_man
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  • t8935xt8935x Member Posts: 6
    Hi Car_man... Need your help! I don't understand the term 'MONEY FACTOR'. I assume that the 46% number applies to the residual factor (which is to say that HYUNDAI is pricing this 36 month 15K lease on the basis of the car being worth 46% of its original value after the lease...??? But what is the money factor.

    Appreciate your help. (Looking to lease a 3.8 for 36 months with 15K... What do you think is a fair price - with the PREMIUM PACKAGE)?

    t8935x
  • tarpumntarpumn Member Posts: 3
    I have had my Gen. for less then a month.
    It's a 3.8 with Prem. plus package. Got it for $2500 down and 435 and month INC. TAXES.
    Thought this a pretty good deal.

    Tom
  • t8935xt8935x Member Posts: 6
    Thanks for your reply, Tom.... It is most appreciated. One last question.... wa this for 12k or 15k miles??
  • tarpumntarpumn Member Posts: 3
    oops, sorry,
    My lease is for 15K per year.
  • gsvipulgsvipul Member Posts: 14
    Hi Tom,

    Can you please tell me if yours was a V6 with Tech Pkg or not and from which dealer you got this deal.

    Thanks for your help.
  • drewpark21drewpark21 Member Posts: 42
    Hi Car_man,
    I looked up the numbers for a V8 Tech Package. They were $39,354 for the True Market Value and $42,000 for the MSRP. The mileage allowance I need is 12,000 miles. It would be great if you could work up a payment for me!
    Thanks so much.
  • tarpumntarpumn Member Posts: 3
    Mine is a preimum plus pack, not a tech pack.
    Leased from Cocoa Hyundai, Cocoa fl.
    Hope this helps.
    Tom
  • hyundaima1hyundaima1 Member Posts: 1
    A 2009 Genesis V8 with an MSRP of $40,100 has an invoice of $39,951 and has a rebate of $1250. A 36 month lease with $2300 due at signing is around $530. Based on 12000 miles per year and a money factor of .00060 and a residual value of 47%.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi t8935x. Money factors are used to calculate the interest portion of lease payments. One can convert money factors into approximate interest rate equivalents to get an idea of how good they are by multiplying them by 2400. The following informative articles that are available here at Edmunds.com contain all of the information about how leasing works that you'll ever need to know: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    Check them out and ust us know if you have any other questions.

    Car_man
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  • cpamancpaman Member Posts: 58
    Carman,

    Excellent site, i just came back from the NY Auto Show and sat in the new 2009 Genesis and loved it. I have scheduled some test drives and i want to go in with enough info to negotiate properly. To that end, i am interested in leasing the 2009 Genesis 3.8L with technology package for either 39, 36, 27, or 24 months if available, can you provide me the current leasing details on all scenario? Also, i saw online there are some independent leasing companies who provide car leasing outside of the car companies. Have you heard about these companies and are they a viable option for car leasing? Thanks boss!!!!
  • roberts10roberts10 Member Posts: 14
    Hi cpaman:

    I just leased a v 6 tech package from a hyundai dealer for a 36 month lease with $2500.00 down and a $488 a month payment. That was lease in March 2009. The residual value is 49%, money factor .00016, and Hyundai is offering a $1000.00 rebate on the v6. msrp on the car was $40,100. The 2500 included the first month payment and Acq fee of $595.00. Good luck with your deal.
  • cpamancpaman Member Posts: 58
    Thanks for the info, a couple of questions

    1. What was the sales price for your lease?
    2. How many miles did you get 12K, 15K???
    3. Was your taxes included in the lease or did you pay at signing?

    CPAMAN
  • roberts10roberts10 Member Posts: 14
    1) MSRP was $40,100. My Gross Cap Cost $ 38,484.09 - 1000 Rebate= $37,484.09
    Adjusted Cap Cost.
    2) 12,000
    3) Yes...Tax Included.. All fees included..
  • cpamancpaman Member Posts: 58
    Thanks for the info, i am looking at a few cars, the Toyota Avalon, Hyndai Genesis, or the Nissan Maxima but the Genesis is high on my list. I will let you know which i get and what my terms are.

    CPAMAN
  • roberts10roberts10 Member Posts: 14
    Great! Good Luck ... I drove the Maxima also, and I thought the cabin was a bit small. Nissan is NOT dealing much either. Hyundai was best value for the car you get. In my opinion. Make sure you test drive the Genesis car over some rough roads, It tends to be a harder ride. Let me know what happens.
  • cpamancpaman Member Posts: 58
    I am in talks with a dealer on a 3.8 lease deal with tech package, let me know what you think:

    MSRP - 40,100
    Sales price - 37,693
    Money Factor - .0006
    36 Months
    Residual - 49%
    Cap Cost Reduction - 2,200
    Rebate - 1,000
    Payment - $462

    If i get the 3.8 without tech package:
    MSRP - 34,000
    Sales Price - 29,546
    Payment - $311

    I am going for a test drive this weekend, i'm not sure about the MSRP, i will work on talking that down, otherwise these deals looks great, am i missing something cuz it looks a little too good to be true.

    CPAMAN
  • roberts10roberts10 Member Posts: 14
    The car with Tech package which has the 462 payment.. Does that include tax or plus tax?? I think that is a good deal with Tech... Thats the deal they gave me as well.

    For the basic car at 311...I think thats good too... But i wanted all the bells and whistles. so I went with the loaded car. I didnt deal on a basic car. so not sure on that payment.

    There is also a premium package you can price out. with some goodies on the car.
  • kingpcgeekkingpcgeek Member Posts: 1,051
    Any leasing expert will tell you do not do a cap cost reduction. 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.
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  • cpamancpaman Member Posts: 58
    CAR MAN

    Quick question, how do you calculate the sales tax on car leases if you want to pay the tax up front. Do you pay tax only on the total lease payments?? Do you also include tax on the cap cost reductions (downpayments and/or trade in)? I am about to seal the deal on my lease and when i tried to recalculate the sales tax it didn't add up. The total lease payments come to $13,658.68 and the sales tax in NY is 8.375%, so the amount i come to is $1,144, the amount the dealership quoted me is $1,644.52 which is about $500 difference, please response as soon as possible i need to give them an answer by Monday. Thanks for your help

    CPAMAN
  • bill2006bill2006 Member Posts: 8
    This forum has been very informative . I really like the Genesis V6 with tech package. Some of the recent lease prices sound great. If I could get those same numbers(less than $500/ month including taxes) I would be very interested.

    Anyone know dealers in southFlorida that are willing to match ?

    Thanks
  • toyetoye Member Posts: 351
    Yesterday I finally bit the bullet and leased a Genesis at the Hyundai on I75 near Weston.
    3.8 Silver/black interior, wing badges
    $515 including taxes
    $2500 down payment including 1st month
    36 month lease.
    49% residual
    15,000 miles per year
    $19,280 to buy at the end of 36 months

    I think the $19,280 would seem quite reasonable for this car in 3 years if I keep with in the mileage. If the Genesis catches on like it has then I would think that this car will be worth low to mid 20's depending on condition and wear and tear. A first for Hyundai.

    Hope this helps.
  • bill2006bill2006 Member Posts: 8
    Toye
    Was that a v6 with tech package? Sounds like a great deal.
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