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Hyundai Genesis Lease Questions

244 messages,  Last post on Nov 24, 2009 at 7:38 PM

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What is this discussion about? Hyundai Genesis, Hyundai Genesis Coupe, Car Buying, Car Leasing, Coupe, Sedan

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#156 of 244 Re: Lease program details for 39 month lease [Car_man] by chipster2 Aug 01, 2009 (4:17 pm)
Replying to: Car_man (Jul 16, 2009 3:03 am) Hi Carman, 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. Replies to this message: kingpcgeek (Aug 03, 2009 8:17 am) Car_man (Aug 04, 2009 3:19 am)
#157 of 244 Re: Lease program details for 39 month lease [chipster2] by kingpcgeek Aug 03, 2009 (8:17 am)
Replying to: chipster2 (Aug 01, 2009 4:17 pm) $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
#158 of 244 Re: California Genesis [newser] by Car_man HOST Aug 04, 2009 (2:46 am)
Replying to: newser (Jul 25, 2009 2:29 pm) No problem newser. I don't think that the lease deals on the 2009 Genesis are going to get much better than they are right now. While manufacturers' cash incentives often increase as the model year progresses to help dealers unload their leftover vehicles, leases do not always become more attractive very late in the year. Vehicles' residual values, which are used to calculate the depreciation portion of lease payments, gradually fall as the model year progresses. At some point late in the model year vehicles' residuals have dropped by so much that manufacturers' usually find it too expensive to provide attractive lease programs on them and they pull the plug on their lease support. It is difficult to say exactly when this will happen, but I don't personally anticipate Hyundai's lease program on the Genesis Sedan getting much better than it is right now.   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
#159 of 244 Re: Lease program details for 39 month lease [chipster2] by Car_man HOST Aug 04, 2009 (3:19 am)
Replying to: chipster2 (Aug 01, 2009 4:17 pm) Hi chipster2. I completely agree with kingpcgeek's helpful assessment that $3,500 is way too much money to put down when leasing.   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
#160 of 244 Genesis Lease by jjones Aug 04, 2009 (4:39 pm)
I have been working on a lease for the last 2 weeks. I live in Columbus, Oh. there are 3 Hyundai dealers in the area. The best offer I have received is $525.00 down and $525.00 per month for 36 months. The car is the V6 with Premium and Teck packages, stickers at $40150 also getting 15,000 miles per year and the Wing Badges for wheels and trunk. The last dealer I went to said get back to whoever gave you that offer and grab it. What do you think Car_Man Replies to this message: Car_man (Aug 05, 2009 1:46 am)
#161 of 244 Re: Genesis Lease [jjones] by Car_man HOST Aug 05, 2009 (1:46 am)
Replying to: jjones (Aug 04, 2009 4:39 pm) Hi jjones. If another dealer told you that they couldn't touch this deal, chances are that it's pretty good. I would be happy to give you my opinion on it, but it would be easier for me to do so if you provided us with this car's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is difficult to tell how much of a discount the dealer is providing you with. I probably could back into an approximate selling price, but I don't know if the payment that you mentioned includes sales tax. It would be much easier if you told us the selling price. Once we have it, I'm sure that either myself or another knowledgeable community member will gladly tell you what they think.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#162 of 244 Genesis Lease by jjones Aug 05, 2009 (9:14 am)
Car_Man,    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. Replies to this message: kingpcgeek (Aug 05, 2009 9:37 am)
#163 of 244 Re: Genesis Lease [jjones] by kingpcgeek Aug 05, 2009 (9:37 am)
Replying to: jjones (Aug 05, 2009 9:14 am) As Car_man already said, one cannot evaluate a lease deal without knowing the selling price of the car.
#164 of 244 Genesis Lease by jjones Aug 05, 2009 (1:14 pm)
kingpcqeek,    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 Replies to this message: kingpcgeek (Aug 05, 2009 1:50 pm) titanman (Aug 06, 2009 11:13 am) bwia (Aug 07, 2009 10:39 am) kingpcgeek (Aug 07, 2009 2:45 pm) bwia (Aug 07, 2009 3:27 pm) and 1 more...
#165 of 244 Re: Genesis Lease [jjones] It by kingpcgeek Aug 05, 2009 (1:50 pm)
Replying to: jjones (Aug 05, 2009 1:14 pm) 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   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.

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