Price Paid For 2015 Genesis

[wmutkelaw]

sticker price?

$45,730

 

[DRS]

Uhmmmm. I believe I have seen others with this combo get right around 40k. At least 5-6.5k off sticker with all incentives, behind the scene Hyundai to the dealer discounts, and dealer discounts off their margins. May have others getting better than that.

Call Colin at Evansville Hyundai. Check their site first of inventory. Tell him I sent you. He will play fair and get easy best deal. I bought my last from him. Also, hearing good ratings of late from Terry Lee Hyundai. New dealer who some folks really like the deals and easy to buy experience.

Are they giving you a ton of good cash for a trade? That might affect the "sale" price of the Genny.

 

[canoodleatl]

Congrats.

Thanks!

 

[soldonandy]

Uhmmmm. I believe I have seen others with this combo get right around 40k. At least 5-6.5k off sticker with all incentives, behind the scene Hyundai to the dealer discounts, and dealer discounts off their margins. May have others getting better than that.

Call Colin at Evansville Hyundai. Check their site first of inventory. Tell him I sent you. He will play fair and get easy best deal. I bought my last from him. Also, hearing good ratings of late from Terry Lee Hyundai. New dealer who some folks really like the deals and easy to buy experience.

Are they giving you a ton of good cash for a trade? That might affect the "sale" price of the Genny.

So you are saying that you can get $6,500 off a new car sticker price these days? That is really amazing, when researching new cars it looked liked the typical margin was 3-4K over invoice was the general pricing scheme for most vehicles. Assuming that is true, then $6,500 represents invoice less hold back? Kudo's to the dealers that don't need profit to run a business!

 

[akeelj]

So you are saying that you can get $6,500 off a new car sticker price these days? That is really amazing, when researching new cars it looked liked the typical margin was 3-4K over invoice was the general pricing scheme for most vehicles. Assuming that is true, then $6,500 represents invoice less hold back? Kudo's to the dealers that don't need profit to run a business!

Im curious to get that explanation as well

 

[ksoze]

That is really amazing, when researching new cars it looked liked the typical margin was 3-4K over invoice was the general pricing scheme for most vehicles.

Not anymore. I think the target purchase price on most cars today is invoice - further incentives then can easily drive the price lower. No one is losing money on the seller side. Invoice price is a misnomer, as the dealer and manufacturer still make money and the real prize is in the post-sale add-ons through finance and other extras and more importantly, the future service visits, where the true profit margin is for dealers.

 

[bausti25]

So you are saying that you can get $6,500 off a new car sticker price these days? That is really amazing, when researching new cars it looked liked the typical margin was 3-4K over invoice was the general pricing scheme for most vehicles. Assuming that is true, then $6,500 represents invoice less hold back? Kudo's to the dealers that don't need profit to run a business!

I was suprised, but my discount from Sticker Price before taxes, license, or any trade calculated was $6,793 at Terry Lee Hyundai in Noblesville, IN. Then they actually gave me about $50 above Kelly Blue Book trade value on my trade. I was very pleased. The finance guy told me they are totally planning on hitting incentive pricing for the end of the year and that is where they will make their profits.

 

[soldonandy]

I was suprised, but my discount from Sticker Price before taxes, license, or any trade calculated was $6,793 at Terry Lee Hyundai in Noblesville, IN. Then they actually gave me about $50 above Kelly Blue Book trade value on my trade. I was very pleased. The finance guy told me they are totally planning on hitting incentive pricing for the end of the year and that is where they will make their profits.

That makes sense if they are giving you KBB wholesale in your trade, they are robbing Peter to pay Paul.

 

[soldonandy]

Not anymore. I think the target purchase price on most cars today is invoice - further incentives then can easily drive the price lower. No one is losing money on the seller side. Invoice price is a misnomer, as the dealer and manufacturer still make money and the real prize is in the post-sale add-ons through finance and other extras and more importantly, the future service visits, where the true profit margin is for dealers.

I get that selling at invoice still represents profit but am not yet convinced that dealers have $6,500 in mark up in a fiercely competitive business. I always thought that their mark ups where so thin that they had to rely on add on's and service but what I hear here is that a dealer caving in on 5K plus isn't unusual. It seems that some if not all of these reported discounts involve some sort of trade and under that scenario that makes more sense because you are trading wholesale and your trade represents potentially a large profit center. I know what some will say, "I got a great price for my trade"....nonsense, it's still wholesale, dealers don't trade for anything higher than auction unless they are balancing it on the other side

 

[soldonandy]

According to True Sale.com, the difference between factory wholesale on a base genesis and retail invoice is 2K.

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[Boulderado]

I get that selling at invoice still represents profit but am not yet convinced that dealers have $6,500 in mark up in a fiercely competitive business. I always thought that their mark ups where so thin that they had to rely on add on's and service but what I hear here is that a dealer caving in on 5K plus isn't unusual. It seems that some if not all of these reported discounts involve some sort of trade and under that scenario that makes more sense because you are trading wholesale and your trade represents potentially a large profit center. I know what some will say, "I got a great price for my trade"....nonsense, it's still wholesale, dealers don't trade for anything higher than auction unless they are balancing it on the other side

You need to separate the dealer discount and manufacturer incentives. I leased my Genesis about three weeks ago. Msrp was $49,135 and my price before taxes and fees was $38,750. $4000 of this discount came from Hyundai ($1500 lease cash, $1500 conquest incentive, and another corporate rebate for $1000). Basically the dealer gets a $4000 refund from Hyundai North America after leasing the car to me even if they had purchased it at invoice, which they never do (always below invoice and invoice has line items like marketing cost etc).

On top of this once the dealer hits its monthly/quarterly/yearly sales targets they get paid by Hyundai NA. I am not even mentioning the $599 dealer handling fee and $595 acquisition fee that Hyundai Financial Services get to charge.

 

[soldonandy]

You need to separate the dealer discount and manufacturer incentives. I leased my Genesis about three weeks ago. Msrp was $49,135 and my price before taxes and fees was $39,000. $4000 of this discount came from Hyundai ($1500 lease cash, $1500 conquest incentive, and another corporate rebate for $1000). Basically the dealer gets a $4000 refund from Hyundai North America after leasing the car to me even if they had purchased it at invoice, which they never do.

On top of this once the dealer hits its monthly/quarterly/yearly sales targets they get paid by Hyundai NA. I am not even mentioning the $599 dealer handling fee and $595 acquisition fee that Hyundai Financial Services get to charge.

That is the exact same discounts I got on my lease.....I am really directing this to pure discount on a buy, folks are claiming over 10%, unless the car is unusually in low demand and factoring out trade deals, I am trying to gauge what the truth on this......Btw, since this is a discussion on what you paid, what is your lease payment?

 

[Boulderado]

After a long research and shopping around finally pulled the trigger on a Tech AWD Parisian Gray Genesis, right off the truck with 18 miles on it:

MSRP: 49,130
Dealer Discount: 6,380
Rebates: 4,000
Price before Taxes and Fees: 38,750
Acq Fee: 595
Dealer Handling: 599
First Month's Payment: 421
Upfront Tax on Rebates: 276
Trade in Negative Equity: 472
Boulder County Sales tax: 8.15%

0 due at signing $421/month for 36 months 15k miles a year.

Sad to see my beloved Bmw 428 go but I got a comparable product for a better price so thank you Hyundai!

Here are details of my deal. I did my due diligence and contacted all the dealers in Colorado and asked all of them beat the best price I got from another dealer. I only negotiated the sale price before manufacturer incentives, taxes, fees, and trade-in value.

 

[wmutkelaw]

just a few posts ago, someone mentioned $1500 conquest incentive. I believe I am not getting that incentive included in my deal. What gives?

I have decided to look at a Signature with Tech. The deal I am being presented with is $45107.00 before taxes/fees.

I believe it includes $1000.00 dealer incentive.

 

[Boulderado]

just a few posts ago, someone mentioned $1500 conquest incentive. I believe I am not getting that incentive included in my deal. What gives?

I have decided to look at a Signature with Tech. The deal I am being presented with is $45107.00 before taxes/fees.

I believe it includes $1000.00 dealer incentive.

"CONQUEST LEASE COUPON
Receive an additional $1,500 off a new 2015 Hyundai Genesis lease if you are the current registered owner of a qualifying conquest vehicle.

Qualifying conquest vehicles: 2004 - 2015 model year Acura, Audi, BMW, Cadillac, Lincoln, Lexus, Infiniti, Mercedes Benz, Chrysler 300, Jaguar, Avalon, Buick La Crosse and Volvo."

Are you driving one of the cars listed above?

 

[wmutkelaw]

No and I am buying not leasing

 

[bausti25]

That makes sense if they are giving you KBB wholesale in your trade, they are robbing Peter to pay Paul.

I used this tool to find the fair trade value of my old Camry - http://www.kbb.com/whats-my-car-worth/

I believe that tool shows better than "wholesale." No?

 

[soldonandy]

Here are details of my deal. I did my due diligence and contacted all the dealers in Colorado and asked all of them beat the best price I got from another dealer. I only negotiated the sale price before manufacturer incentives, taxes, fees, and trade-in value.

I didn't have that experience in PA, all the dealers I talked to would let you walk if you wanted more than 4-5K discount but ultimately considering that my dealer ate 5 months of my previous car's lease payment, my cap adj cost was $42,134 on a sig and tech package and my lease payment is similar to yours so I guess what you pay for the car on a lease is only one piece of it. Still wondering who is getting 10K or 10% + off on a straight purchase with no trade........

 

[soldonandy]

Interesting side note, I just interviewed an established car salesman for a Real Estate job and he admitted what most of basically new is that there is no money for the dealers on new cars and invoice is the new retail. So the discount really starts when you get below invoice and the reality is, according to him, the money today is on the trade in/used car. So the higher the discount, the greater the fleecing on the trade. In other words, Dealers will take your trade all day at wholesale and turn a profit. Also, why call all the dealers for the best price and work so hard to negotiate a new car and then give up on your current car for wholesale, wouldn't it make sense to take some of that negotiating energy and flip it for private party value? So you get a huge discount but leave a few thousand on the table on the trade side? It would be interesting to here from folks that negotiated a substantial discount without a trade, I am sure there are a few !

 

[Boulderado]

I didn't have that experience in PA, all the dealers I talked to would let you walk if you wanted more than 4-5K discount but ultimately considering that my dealer ate 5 months of my previous car's lease payment, my cap adj cost was $42,134 on a sig and tech package and my lease payment is similar to yours so I guess what you pay for the car on a lease is only one piece of it. Still wondering who is getting 10K or 10% + off on a straight purchase with no trade........

I negotiated this price before my trade-in discussion. I didn't even go to the dealerships in person before we agreed on pricing. I used going into the dealership as a bargaining chip since they know that they have to get you to the dealership in person and they also know once you walk out of the dealership you are %95 of the time not coming back to sign the lease deal.

Trade-in appraisal was the last thing I cross shopped once I had three dealers offering me the Tech AWD Genesis for $38,750 or $39,000 after incentives and before taxes and fees. I had all three dealers appraising my car and went with the highest bidder...