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Prices Paid: Buying & Leasing Experiences Hyundai Genesis Lease Questions
304 messages, Last post on Mar 19, 2010 at 8:13 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: ghetto2315 (Jul 16, 2009 6:19 am) 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 |
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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 |
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Replying to: mgott23 (Jul 24, 2009 10:38 am) .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.
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Replying to: kingpcgeek (Jul 24, 2009 1:26 pm)
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Replying to: mgott23 (Jul 24, 2009 1:37 pm) |
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Replying to: mgott23 (Jul 24, 2009 1:37 pm) 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. |
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Replying to: Car_man (Jul 16, 2009 2:53 am)
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Replying to: Car_man (Jul 16, 2009 3:03 am) 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.
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Replying to: chipster2 (Aug 01, 2009 4:17 pm) 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 |
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