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Prices Paid: Buying & Leasing Experiences Hyundai Genesis Lease Questions
244 messages, Last post on Nov 24, 2009 at 7:38 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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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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I think I am getting very bad deal on a V8; any help would be greatly appreciated... Here is the deal (some numbers are rounded up); 12k miles / year with 24 months lease. Price $42100 ($100 dollars more) Doc / Acquisition / License fees: $1000 (I know I have to pay this!?) Gross Cap $43.100 Down $2200 Rebate $500 Amt applied up front $900 (Not sure what that is?) Total Cap Reduction $1,800 Net Cap cost $41,3k Residual %60 (Not sure if this supposed to be 62% or 63% for V8) Money Factor .00001 Upfront charges $170 (not sure what that is?) Base monthly $670 + Taxes = $715 (Which is a lot higher than what I was expecting) I was expecting around $590 (including taxes!!) not sure how we got to $715?? Thanks for your help...
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Replying to: daviderle (Oct 23, 2008 6:19 pm) I agree with you. You're putting down a lot and paying high monthly fees. I'd walk on this deal or try negotiating on the 6 cylinder. I was quoted $2200 down and $499/mo. plus fees (TTL) for the loaded 6 with luxury and tech. packages. (For less than what you were quoted you can lease a loaded 5 series BMW, FWIW.)
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I am considering leasing a 3.8L Genesis with either base or premium package (haven't decided yet). Does anyone know how much room for negotiation we have from the MSRP? Hyundai is advertising 399/month lease for base package with 2199 down but does not include tax. Any one has any recent experiance they could share? Thanks!
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