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Hyundai Genesis, Hyundai Genesis Coupe, Car Buying, Car Leasing, Coupe, Sedan
#148 of 657 Re: Lease program details for 39 month lease [ghetto2315]
Jul 17, 2009 (1:46 am)
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.
Prices Paid: Buying & Leasing Experiences Forum
#150 of 657 2009 Genesis sedan lease ???s
Jul 24, 2009 (10:38 am)
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
#151 of 657 Re: 2009 Genesis sedan lease ???s [mgott23]
Jul 24, 2009 (1:26 pm)
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.
#152 of 657 Re: 2009 Genesis sedan lease ???s [mgott23]Tex [kingpcgeek]
Jul 24, 2009 (1:37 pm)
thanks, I might try for 15K and see what it does. Do you think that at 18k it's a bad deal.
#153 of 657 Re: 2009 Genesis sedan lease ???s [mgott23]Tex [kingpcgeek] [mgott23]
Jul 25, 2009 (4:29 am)
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).
#154 of 657 Re: 2009 Genesis sedan lease ???s [mgott23]Tex [kingpcgeek] [mgott23]
Jul 25, 2009 (4:30 am)
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.
#155 of 657 Re: California Genesis [Car_man]
Jul 25, 2009 (2:29 pm)
thanks for the reply car_man....I am gonna try to get a fully loaded V6 genesis...another question is should I wait until december for a better deal on an 09? I know the pickins will be slim but who knows???
#156 of 657 Re: Lease program details for 39 month lease [Car_man]
Aug 01, 2009 (4:17 pm)
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.
#157 of 657 Re: Lease program details for 39 month lease [chipster2]
Aug 03, 2009 (8:17 am)
$3,500 is too much to put down on a lease. One purpose of a lease it to invest as little of our own money in the car as possible since you are renting it. It is also a bad idea to put that much down.
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