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Genesis Forum: Genny Sedan Depreciation
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  1. #1
    cschuler is offline Registered Member What I drive: Genesis 3.8 V6 Sedan
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    Default Genny Sedan Depreciation

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    Been doing some depreciation calculations and it seems that the Genny sedan that I leased (a 2010 at about 38 k new) will depreciate over three years as follows: 6k, 4k, 4k.

    Does that seem reasonable? Many in this group seem to have a sense of Genny fair prices and reasonable depreciation.


  2. #2
    brihvac's Avatar
    brihvac is offline Registered Member I live in Delaware
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    Default Re: Genny Sedan Depreciation

    You bought a Hyundai people...what did you expect.

    As much as people compare to BMW, Mercedes, etc.....Reality is ITS A HYUNDAI. They do not hold their value anywhere near big name luxury cars.

    I traded a 04 E320 4matic for mine. The dealer lowered my car from $36,130 to $31,000. Then gave me $18K for my Mercedes that I had bought 3 months prior for $14K. With them giving me $4K more than what I paid for the Benz, I looked at it as I got that much more off the Genesis.

    I like my Genesis, but it definitely is not my old Mercedes.
    09 Genesis 3.8, Premium Package Plus, Cabernet Red Pearl, Beige leather

  3. #3
    STREETS is offline Registered Member What I drive: Genesis 3.8 V6 Sedan
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    Default Re: Genny Sedan Depreciation

    Mercedes lose tons of value..remember it starts so much higher
    Owner Genesis 3.8 TECH White/Cashmere with Genesis Wing replacement inside-out, LEDs

  4. #4
    crhbobby is offline Registered Member What I drive: Genesis 3.8 V6 Sedan
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    Default Re: Genny Sedan Depreciation

    Those numbers may be true from a retail standpoint.

    I would estimate that the first year depreciation to be more like 10K. Then perhaps slow to 5-6K per year.

    I bought my car V6 Tech used September 09 for 31,500. The trade in value that day was probably 27-28K. So lets say the car was 38K new..thats nearly 10K in depreciation.
    Today - after owning the car a year, I would expect my car to be traded in for 22-23K. 5-6K in depreciation.

    The first year is always a killer. I think that when the supply of off lease cars increases - the value of a used Genesis will drop as supply increases.

    When I looked at depreciation rates of BMW, Mercedes, Cadillac, etc - they initial depreciation rates were just as bad. That is why I like to buy 1-2 year old well maintained cars. It allows me to afford a nicer car

    These are just my opinions.

    Bob

  5. #5
    STREETS is offline Registered Member What I drive: Genesis 3.8 V6 Sedan
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    Default Re: Genny Sedan Depreciation

    How many miles where on your V6Tech at purchase?

  6. #6
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    imaphaetonguy is offline Registered Member What I drive: Genesis 4.6 V8 Tau Sedan
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    Default Re: Genny Sedan Depreciation

    Just bought a '09 Genesis sedan 3.8 V6 Prem. & Tech pkg. with 10,100 miles for $26,900. MSRP was $40,100.

  7. #7
    Casey is offline Hasn't posted much yet... What I drive: 4.6 V8 Tau Sedan
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    Default Re: Genny Sedan Depreciation

    KBB estimates resale values, the link below is for the 2010 3.8, I've copied some comparisons of

    2010 Genesis 3.8

    New 100% $33,000.00
    year 2 49% $16,170.00
    year 3 38% $12,540.00
    year 4 30% $9,900.00
    year 5 24% $7,920.00

    compared to a 2010 Lexus ES350

    New 100% $35,175.00
    2 56% $19,698.00
    3 47% $16,532.25
    4 38% $13,366.50
    5 30% $10,552.50

    compared to a 2010 Mercedes C 300 sport

    New 100% $33,600.00
    2 58% $19,488.00
    3 47% $15,792.00
    4 38% $12,768.00
    5 30% $10,080.00

    compared to a 2010 BMW 528

    New 100% $45,950.00
    2 53% $24,353.50
    3 43% $19,758.50
    4 34% $15,623.00
    5 25% $11,487.50

    or a 2010 Ford Taurus Limited

    New 100% $31,770.00
    2 48% $15,249.60
    3 39% $12,390.30
    4 32% $10,166.40
    5 26% $8,260.20


    http://www.kbb.com/new-cars/hyundai/...alue?id=262058

  8. #8
    brihvac's Avatar
    brihvac is offline Registered Member I live in Delaware
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    Default Re: Genny Sedan Depreciation

    Quote Originally Posted by STREETS View Post
    Mercedes lose tons of value..remember it starts so much higher
    Not as much as a Hyundai. I have had 1 new Mercedes and 2 used. Lost very little on the new one (sold almost 2 years after bought), drove the 2nd one for 2 years and 20K miles broke even, and made money on the last.

    I dont pay sticker price for any auto. I always beat the dealer down and play all the dealers against each other. I have a car and truck and replace one a year. One year I get a new truck and the next I get a new car. So when I go into the dealer they know I dont screw around and I will walk out the door and buy from another dealer if their price is even $100 cheaper. I have owned 5 new Hyundai's including the Genesis since 2000. I have delt with the same sales manager (differant dealers)since 2000. He knows how I am and that if he takes care of me I will keep coming back to him. There is no salesman getting up a million times to talk to his manager. He knows if Im there Im buying within a week and I will walk if he doesnt get me the best deal possible. From what he has told me, at his dealerships they are alowed to sell 3 cars a month at a deeper discount than normal. The last 3 I bought I got with this discount. I priced a 2004 Elantra at 3 differant dealerships and 2 of them went down too the same price. I mean to the dollar! The sales manager I knew went even lower and explained this discount to me. He brought my Genesis from $36K to $31K. All the other dealers were $34K and $33K for the identical car. Also what he gave me for the Mercedes was spectacular. He did make a ton of phone calls and waited till he got a return call before he gave me a number on the trade. He had a buyer for it and it was gone the next day
    Last edited by brihvac; 12-14-2010 at 10:13 PM.

  9. #9
    chilly mac is offline Registered Member What I drive: 4.6 V8 Tau Sedan
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    Default Re: Genny Sedan Depreciation

    Quote Originally Posted by brihvac View Post
    Not as much as a Hyundai. I have had 1 new Mercedes and 2 used. Lost very little on the new one (sold almost 2 years after bought), drove the 2nd one for 2 years and 20K miles broke even, and made money on the last.

    I dont pay sticker price for any auto. I always beat the dealer down and play all the dealers against each other. I have a car and truck and replace one a year. One year I get a new truck and the next I get a new car. So when I go into the dealer they know I dont screw around and I will walk out the door and buy from another dealer if their price is even $100 cheaper. I have owned 5 new Hyundai's including the Genesis since 2000. I have delt with the same sales manager (differant dealers)since 2000. He knows how I am and that if he takes care of me I will keep coming back to him. There is no salesman getting up a million times to talk to his manager. He knows if Im there Im buying within a week and I will walk if he doesnt get me the best deal possible. From what he has told me, at his dealerships they are alowed to sell 3 cars a month at a deeper discount than normal. The last 3 I bought I got with this discount. I priced a 2004 Elantra at 3 differant dealerships and 2 of them went down too the same price. I mean to the dollar! The sales manager I knew went even lower and explained this discount to me. He brought my Genesis from $36K to $31K. All the other dealers were $34K and $33K for the identical car. Also what he gave me for the Mercedes was spectacular. He did make a ton of phone calls and waited till he got a return call before he gave me a number on the trade. He had a buyer for it and it was gone the next day
    Cool story, bro. And remarkably on topic.

  10. #10
    crhbobby is offline Registered Member What I drive: Genesis 3.8 V6 Sedan
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    Default Re: Genny Sedan Depreciation

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    Streets - Mine had 10K when I purchased it last year. It was August or September of 2009.

    When I purchased my used car - there were only like 3 for sale within 150 miles used. I wanted a V8, but the dealers weren't budging off of 36K.

    I ended up driving to Ohio to get my car. I spent some time getting the dealer to come down. At the time, 31,500 was a good price.

    I just wish that I could have found a red V8 with cashmere interior. I had to settle with a red V6 with black interior.

    Bob

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