Alternatives to G70?

[KDX]

Unfortunately...I need to lease. Cannot lease CPO cars anymore...for about a year now. Bummer.

So I’m stuck with new.

I prefer buying my vehicles new.

 

[kmooney4]

I prefer buying my vehicles new.

I prefer new as well. Also, I very much do not like the prospect of German, Italian, or European repair costs.

 

[Truffleshuffle]

I don't either, but CPO of Audi extends the original warranty of the vehicle an extra year and includes unlimited miles. For me that's crucial as I typically put on 120 miles per day on my car. Id blow through the 100k powertrain warranty of a genesis in under 4 years whereas if I go CPO it actually is better than factory new since its not going to be the time limitation rather the miles

I also just don't buy new simply because of how little financial sense it makes. id really like to buy a CPO g80 sport since those go in the lower 40s currently, but theres no way id be comfortable paying over 40k for a vehicle and having the factory warranty be used up in a year and half of driving since the only thing transferrable is the bumper to bumper (this is current since genesis cant seem to announce how their CPO program will work despite having used genesis branded vehicles being sold from Hyundai dealers that have been awarded future genesis sales)

 

[steelers84]

I prefer new as well. Also, I very much do not like the prospect of German, Italian, or European repair costs.

Can confirm. Wouldn't even know what the G70 is if my 7 year old German car with 50k miles on it didn't have 5k in repairs this year so far...

 

[randian]

Mercedes looks like it has some pretty attractive leases. I don't much like the styling on the current C-class (I prefer the previous "creased" look), and I'm not sure how comparable the cars are in terms of equipment, but payments on a C43 look like they're more than $100/month less than Genesis.

 

[Alfer]

Odd are you'll also have many more potential problems down the road with a Mercedes since their reliability has been pretty horrible for years now.

 

[Buckdes]

Yeah my way of thinking is if i finance for 7 years or lease for 4 years the payments are similar and after 3.5 years maybe earlier i can trade in a get what i owe and break even whereas lease you will need to pay to get out early or find someone to take over, i only put on about 8000km a year

 

[danygenesis]

I like to change cars in 2-3 years, that's why I always lease. The only car I ever bought was for my son to have it on College and University. When the retirement comes I would buy again.

 

[Alfer]

Yeah my way of thinking is if i finance for 7 years or lease for 4 years the payments are similar and after 3.5 years maybe earlier i can trade in a get what i owe and break even whereas lease you will need to pay to get out early or find someone to take over, i only put on about 8000km a year

Dear God, finance a CAR for 7 years!!??" That is crazy. Worst thing you can due per many financial guru's.

 

[Buckdes]

Dear God, finance a CAR for 7 years!!??" That is crazy. Worst thing you can due per many financial guru's.

So i have heard but my reasoning still stands, lease a car for 4 years and end up with nothing or finance a car for 7 years and trade in after 3 or 4 and end up with nothing is the same thing, at least with finance i can wrap and change the car how i like without dealership approval. Only risk is if Genesis tanks and i dont get what i owe in 3.5 or 4 years

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[stingermang]

So i have heard but my reasoning still stands, lease a car for 4 years and end up with nothing or finance a car for 7 years and trade in after 3 or 4 and end up with nothing is the same thing, at least with finance i can wrap and change the car how i like without dealership approval. Only risk is if Genesis tanks and i dont get what i owe in 3.5 or 4 years

Thoughts on getting into an accident (through no fault of your own) or you go over on miles?

mang.

 

[danygenesis]

Now Genesis is using the same BAD lease strategy as Kia with the Stinger. They increased the MF in July a lot and in order to compensate such a bad financing they are offering more lease cash.
Genesis 3.3t AWD
June--- MF 0.00013 (0.31 APR) with $1500 lease cash
July--- MF 0.00153 (3.91 APR) with $5500 lease cash

Ten times APR increase. What a stupid move!!!

 

[steelers84]

Now Genesis is using the same BAD lease strategy as Kia with the Stinger. They increased the MF in July a lot and in order to compensate such a bad financing they are offering more lease cash.
Genesis 3.3t AWD
June--- MF 0.00013 (0.31 APR) with $1500 lease cash
July--- MF 0.00153 (3.91 APR) with $5500 lease cash

Ten times APR increase. What a stupid move!!!

Any idea what the residual is? That is a massive APR increase, but in all fairness, the June APR was insanely low. The July deal is still technically better than the June deal because of the extra 4k in lease cash.

Now, if the residual is the awful 49-52% that the GT2 is, it's going to be difficult to lease this car and get even a reasonable deal, but if we can see 54-56%, it could be pretty decent.

 

[danygenesis]

Any idea what the residual is? That is a massive APR increase, but in all fairness, the June APR was insanely low. The July deal is still technically better than the June deal because of the extra 4k in lease cash.

Now, if the residual is the awful 49-52% that the GT2 is, it's going to be difficult to lease this car and get even a reasonable deal, but if we can see 54-56%, it could be pretty decent.

36/12k residual is 51% Atrocious!!

 

[steelers84]

36/12k residual is 51% Atrocious!!

Oh god, that's terrible. Well, if the US is like that, I'll be purchasing because I'm not paying $700+ a month on a 50k car.

 

[Beefer]

Thoughts on getting into an accident (through no fault of your own) or you go over on miles?

mang.

If you go over on miles...nasty. But remember to average over the lease term.

Accident...as long as car is fixed when you return...zero issues. Which rocks...because if you buy and wreck...CarFax will f$%k you when you try to sell. Everyone does CarFax now...nothing hidden. If you lease...who cares...awesome.

 

[Buckdes]

Thoughts on getting into an accident (through no fault of your own) or you go over on miles?

mang.

Accident screws the whole finance plan for sure and i put about 8000km a year on my car so mileage will always be low, i guess if you pick up the accident coverage in a lease then that would be the better option in that case and depending on wear and tear packages or end of lease fees that can bring payments up on a lease for sure

 

[Electrode]

I don't think there are any magical numbers in a lease. It will cost more in almost all cases. There are lease fees coming and going and in many states, higher sales tax rates. You have the privilege of paying the most extreme part of the depreciation curve and then returning a car with many years of trouble free service remaining.

 

[JayceM]

Oh god, that's terrible. Well, if the US is like that, I'll be purchasing because I'm not paying $700+ a month on a 50k car.

Yep. It's unfortunate.

 

[randian]

If they're going to offer big lease cash to offset bad lease terms then a lease/immediate payoff would be the way to go? That seems to be what Stinger devotees are doing, though the required third-party financing doesn't seem to be nearly as good as Kia's purchase financing. Of course Kia won't finance your payoff of the lease so you really have no choice.

Are third-party leases any good? Costco seems popular but I don't really know their terms.

If you're buying outright you're paying all the sales tax up front, so you're a grand or two in the hole to start, offset in part by lease fees.