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Prices Paid: Buying & Leasing Experiences Hyundai Genesis Lease Questions
242 messages, Last post on Nov 23, 2009 at 4:18 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: chicagotouareg (Oct 02, 2008 7:25 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Oct 06, 2008 5:09 pm) A quote I got August had a residual of 66% and money factor of .00080. Comparing this to the 62% and .00001 you say is the current deal, would the monthly payment be about the same? And help me with my math...Edmunds has a formula for determining the monthly interest cost of various money factor rates: Cap cost plus lease-end value times the money factor. Using this formula, I tried to compute the monthly interest cost at .00001 on $56973 and got $.56973. Could that be correct? Fifty six cents?
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Replying to: sandy25 (Oct 07, 2008 12:42 pm) Basically, a zero interest loan..
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Replying to: kyfdx (Oct 07, 2008 1:15 pm)
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Replying to: gfish49 (Oct 07, 2008 4:39 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: Car_man (Oct 07, 2008 5:22 pm) 1. There are some contradictions above. Is the residual 62% for 12k/year or 62% for 15k/year? 2. I spoke to my dealer and was told that the residual is the SAME for both loaded (Genesis V6 with Tech) and base V6 Genesis's, but does anyone have something that says otherwise? 3. How much are the fees that need to be paid in this lease (acquisition fee, disposition, etc.)? Are they negotiable? 4. What would be considered a good deal on a Genesis V6 with Tech (MSRP 40k)? I personally feel that $700 down, $510 + tax, would be a good, doable, agressive deal, especially when you factor in the $500 cash incentive they are offering right now. If the $700 down cancels out all the lease inception fees (lets assume fees are negotiable and come out to be $700), you would have to negotitate a price on the vehicle of 37000. Invoice on this vehicle is 37000 minus the $500 cash incentive, so invoice is really $36800. So the dealer is getting $200. Not a bad deal in my opinion, especially if you plan on keeping the car. This is an excellent way to get the car, whilst paying NEGLIGIBLE interest. Experts on here - any thoughts? Advice/Insight appreciated! |
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Replying to: vishnus11 (Oct 09, 2008 7:39 am) Up front: lst month, Acquisition fee and DMV fees....$1244 $591 inc sls tx x 23 payments This is in the NY metro area (Ct)
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Replying to: sandy25 (Oct 09, 2008 10:12 am) I too am looking at this car next year when my Infiniti M and BMW 535 go back. (I hate my 5 series!!!!!) I am looking at the V8 and looking to stay at $500 a month for 18,000 miles with only basic fees. |
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Replying to: sandy25 (Oct 09, 2008 10:12 am) |
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Replying to: vishnus11 (Oct 09, 2008 7:39 am)  12k miles/yr is 63% and at 15k miles/yr it is 62%. The acquisition fee is $595 and not negotiable as it is a charge from Hyundai Finance; 2. The residual is not the same for both the V6 & V8 models. The residual for the V8 is 60%. 3. The additional fees in a lease include the Acquisition Fee mentioned above and the security deposit which may be waived at a higher lease factor. The current lease factor for excellent credit is .00001 or 0.024%. The security deposit is refundable at lease termination, and equals the monthly payment rounded up to the nearest $50. ALL fees, taxes, etc. may be rolled into the monthly payment. The only money required at the beginning of the lease is the 1st months payment, including the secuirty deposit(if you pay a higher lease factor); 4. The cash incentives are applied to the cap cost on behalf of the customer and do not reduce the invoice. A V6 with the tech pkg has an invoice of $37563, and the monthly payment at our dealership (Schaefer & Strohminger 5665) up front would be $606.56, including all taxes, tags and fees for 24 months. |
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