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Hyundai Genesis Lease Questions

239 messages,  Last post on Nov 05, 2009 at 11:15 AM

You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx

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


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#37 of 239
Re: Genesis deal?? [zephyr2] by vlad92
Dec 29, 2008 (7:59 pm)
Reply

Replying to: zephyr2 (Dec 12, 2008 11:46 am)

Not sure if this helps anyone, but I just brought my Genesis home this evening after signing this lease deal here in Omaha:
 
MSRP: $33,000 (base V6)
Selling Price: $29,700
Lease Rebate: $500
Term: 27 months 12K miles / year
MF of .00027 with 59% residual
Monthly base payment (pre-tax): $373.88
 
0 cap reduction paid up front.
 
Paid $1260.17 at delivery which included acq fee of $595, doc fee of $199.50, title of $10, tax on fees of $55.62, and first month payment of $400.05 (includes tax).
 
Not sure how this stacks up, but I'm pretty happy with it.
 
See you on the road!
 
Vlad
#38 of 239
Considering first lease by george66
Jan 08, 2009 (1:41 pm)
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The 27mo lease seems good to me. And at lease end, I assume the price to purchase is 59% residual of the negotiated "purchase price" or car value, for example, $17,700 on a value of $30,000. My question is whether the car's trade-in value will be more or less than the residual value. My intention would be to keep the car.
Thank you
#39 of 239
Re: Considering first lease [george66] by kyfdx HOST
Jan 08, 2009 (1:46 pm)
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Replying to: george66 (Jan 08, 2009 1:41 pm)

The residual percentage is multiplied by the MSRP, not the selling price...
#40 of 239
Re: Considering first lease [kyfdx] by george66
Jan 09, 2009 (10:40 am)
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Replying to: kyfdx (Jan 08, 2009 1:46 pm)

Thank you. That was not clear to me. Now I'm less sure leasing is the best way to go on a V6 Genesis. Of course, the whole strategy in car sales is to keep the buyer a bit confused (IMHO). Does the "capital cost reduction" (if any) get credited somehow to the residual value, or just go into the dealer's pocket? Thanks
#41 of 239
Re: Considering first lease [george66] by kyfdx HOST
Jan 10, 2009 (4:22 am)
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Replying to: george66 (Jan 09, 2009 10:40 am)

The CAP cost reduction lowers the amount financed, ergo a lower lease payment.. So, it's not money lost, but generally, it is a good idea to lease with as little down as possible.
 
If you are looking to lease, with the idea of buying the car at lease end, you will usually be better off purchasing the car in the first place.
 
regards,
kyfdx
#42 of 239
Re: Genesis deal?? [vlad92] by Car_man HOST
Jan 16, 2009 (3:22 am)
Reply

Replying to: vlad92 (Dec 29, 2008 7:59 pm)

Congratulations on getting your new Genesis, Vlad. Thanks for taking the time to share the details of your lease with everyone. Make sure to hop on over to the Dealer Ratings & Reviews to share your thoughts on your recent dealer experience as well. Enjoy your new ride !
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
#43 of 239
Re: Considering first lease [george66] by Car_man HOST
Jan 16, 2009 (3:25 am)
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Replying to: george66 (Jan 09, 2009 10:40 am)

That's one of the things that I've always found frustrating about cap cost reductions on leases, george66. While they do reduce vehicles' amount financed, and in turn their monthly payments, they have absolutely no impact upon vehicles' lease-end purchase option prices. The purchase option price of a Genesis at the end of a lease would be exactly the same, regardless of whether you had put $5,000 down or $0 down.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
#44 of 239
Purchasing Extra Mileage on Genesis Lease by webbmeister25d
Jan 21, 2009 (6:54 pm)
Reply
Hello Everyone,
 
Like many here, I'd like to lease a Genesis. I'd been in contact via email with one of the dealerships mentioned in another post, and when in my second email I wrote that I drive 20,000 miles per year and asked how I could pay for this mileage up front to avoid paying a premium/penalty at lease end, the salesperson stopped corresponding.
 
Is 20,000 miles per year out of bounds for leasing a car? I'm not sure where to go from here. I'm not interested in keeping the car beyond the lease period - a new car every couple of years is one of the very few treats I allow myself. Doing this by purchasing and going into the dealership upside down with three years left on a loan gets to be too expensive. Any thoughts?
 
Also, does anyone have any thoughts on using online lease brokers such as 1 Click Auto Brokers?
 
Thank you!
 
Jim
#45 of 239
Re: Purchasing Extra Mileage on Genesis Lease [webbmeister25d] by keithl
Jan 24, 2009 (8:01 pm)
Reply

Replying to: webbmeister25d (Jan 21, 2009 6:54 pm)

I have an offer on a Genesis V6 Tech for 20K miles per year for their current 27 month lease special and it is $690 a month, no money down except first month up front. I consider that an exceptional deal considering is is 9 months shorter than most convential competitive leases. This elease is trhough hyundai and 2 diffeent dealers have matched the offer. The only concerns I have with hyundai leasing is they require you keep a $500 deductable on collision and comp and I keep $1K.
#46 of 239
GENESIS LEASE by roberts10
Jan 28, 2009 (3:05 pm)
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I am looking to lease a new Genesis in the next month when my Acura RL lease expires. Does anyone know if you can do better than the current 27 month lease deal? Are dealers willing to go lower than this deal? Also, I want to lease the V6 but with the tech package. not the base..whats the lease payment on that car? I think the MSRP is $40,000 with everything. Any help on lease pricing would be appreciated.

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