What did you pay for your Genesis G80?

[donnykidd]

How can you find out what incentives the dealer is getting or has to offer? In other words how do you know that the dealer is getting $5500 in lease money on a G80 Sport? I was at a dealer the other day trying to buy a car and they did not tell me what their incentives were. The best offer they made me was a lease offer though.


mgg

In addition, I use NADA Guides.


New 2018 Genesis G80 3.3T Sport RWD MSRP Prices

 

[mgg]

Thank you so much TurtleBoy! That is great information! Once I do my homework I might try another dealer to see what I can do. Already I'm glad I walked out of the dealership. After going to this site I notice they have all the rebates listed, but they did not have the things like dealer incentives (I've heard they were $2000.00 last month) or lease cash. Am I missing something?

Okay after re-reading your post I see I will need to call to find out what dealer incentives are offered and what lease cash their is.

mgg

 

[TurtleBoy]

Thank you so much TurtleBoy! That is great information! Once I do my homework I might try another dealer to see what I can do. Already I'm glad I walked out of the dealership. After going to this site I notice they have all the rebates listed, but they did not have the things like dealer incentives (I've heard they were $2000.00 last month) or lease cash. Am I missing something?

Okay after re-reading your post I see I will need to call to find out what dealer incentives are offered and what lease cash their is.

mgg

Not really following but Edmunds does list the lease cash and usually any incentives. I have not heard of any dealer incentives for the 2018 G80 but there may be. I had problems opening the link in my post but don't know if that is just me. Here it is again in case that is what you mean.

2018 Genesis G80 Lease Deals and Prices

 

[TurtleBoy]

Here is a link for Edmunds' rebates and incentives page. Click on the make and then the model. It will show the available incentives.

Incentives & Rebates: New Car Incentives & Car Rebates | Edmunds

 

[mgg]

Not really following but Edmunds does list the lease cash and usually any incentives. I have not heard of any dealer incentives for the 2018 G80 but there may be. I had problems opening the link in my post but don't know if that is just me. Here it is again in case that is what you mean.

2018 Genesis G80 Lease Deals and Prices

Got it. I was confused when I got to the site about how to use it.
Thanks

 

[BrainDoc]

Can anyone comment on what OTD prices they are getting on the 2018 G80 Sport in AWD? I've seen discounts as high as 6-7k off MSRP. I'm assuming they are probably higher now that December is just around the corner?

 

[mgg]

Can anyone comment on what OTD prices they are getting on the 2018 G80 Sport in AWD? I've seen discounts as high as 6-7k off MSRP. I'm assuming they are probably higher now that December is just around the corner?

I just tried my best to get 9K off but the best I could get was 6.5K. I did not buy the car and have almost decided that this is just not the time to buy a 2018 Genesis G80. There are very few of them on lots and they are shipping very few of the 19's. However I just got a message from a dealer who has several Sports and half a dozen G80 3.8 who also said their 19's are coming. I am going to see what I can do with them tomorrow. They are offering the $6000.00 lease money but nothing off the price of the car. For me this is a want not a need so I can walk away from it if I don't feel like the deal is right. I would think the dealers would come down a few thousand and with the 6000.00 lease money I could have got a deal done. But the dealer want full price for he car because you are getting lease money.

 

[TurtleBoy]

I just tried my best to get 9K off but the best I could get was 6.5K. I did not buy the car and have almost decided that this is just not the time to buy a 2018 Genesis G80. There are very few of them on lots and they are shipping very few of the 19's. However I just got a message from a dealer who has several Sports and half a dozen G80 3.8 who also said their 19's are coming. I am going to see what I can do with them tomorrow. They are offering the $6000.00 lease money but nothing off the price of the car. For me this is a want not a need so I can walk away from it if I don't feel like the deal is right. I would think the dealers would come down a few thousand and with the 6000.00 lease money I could have got a deal done. But the dealer want full price for he car because you are getting lease money.

Sounds like the dealer is not really interested in selling the cars. We just had a member here buy a new 2019 G80 Sport in a scarce color and got over 4.7% off MSRP plus incentive.

 

[Mcc]

I just tried my best to get 9K off but the best I could get was 6.5K. I did not buy the car and have almost decided that this is just not the time to buy a 2018 Genesis G80. There are very few of them on lots and they are shipping very few of the 19's. However I just got a message from a dealer who has several Sports and half a dozen G80 3.8 who also said their 19's are coming. I am going to see what I can do with them tomorrow. They are offering the $6000.00 lease money but nothing off the price of the car. For me this is a want not a need so I can walk away from it if I don't feel like the deal is right. I would think the dealers would come down a few thousand and with the 6000.00 lease money I could have got a deal done. But the dealer want full price for he car because you are getting lease money.

Isn’t the lease money the equivalent to getting a discount off MSRP?

 

[TurtleBoy]

Isn’t the lease money the equivalent to getting a discount off MSRP?

Yes but that does not necessarily make it a good/fair deal. The lease cash in no way affects the dealer as it is offered by the manufacture. Whether or not he is leasing should in no way affect the price of the car. The negotiations should be done without any discussion of how it will be paid for. Once a price is agreed upon then trade in and financing options can be tackled.

In this case I think the dealer should be discounting at least 6% off MSRP. Then from there he can choose to take the lease cash if he wants to lease.

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[Prospective G80 Owner]

Isn’t the lease money the equivalent to getting a discount off MSRP?

The point is the lease money is coming from Genesis. The 4.7% that Turtleboy mentioned above was the discount from the dealer itself before including any lease money or other purchase incentive from Genesis. My total discount from MSRP on the 2019 Sport was 7.4% when you factor in the additional $1,500 from Genesis.

If a dealer is willing to discount almost 5% on a 2019, you should be able to do better than that on a 2018 before taking into account any additional Genesis incentives.

 

[TurtleBoy]

The 4.7% that Turtleboy mentioned above was the discount from the dealer itself before including any lease money or other purchase incentive from Genesis. My total discount from MSRP on the 2019 Sport was 7.4% when you factor in the additional $1,500 from Genesis..

And with my luck when we finally do get a Genesis dealer in the state they will probably act like mgg's and not offer anything off MSRP and since I plan on buying lease cash wouldn't be involved. May have to follow your lead and fly to VA.

 

[BrainDoc]

And with my luck when we finally do get a Genesis dealer in the state they will probably act like mgg's and not offer anything off MSRP and since I plan on buying lease cash wouldn't be involved. May have to follow your lead and fly to VA.

Why not lease for a month or two, get the lease cash and then just buy it at month 3? I'm curious because I'm about to START negotiating. Looking for the best bottom dollar on an 18 g80 Sport AWD (or 19)

 

[TurtleBoy]

Why not lease for a month or two, get the lease cash and then just buy it at month 3? I'm curious because I'm about to START negotiating. Looking for the best bottom dollar on an 18 g80 Sport AWD (or 19)

It could be done but you would have to see if it pays. Right now there is no lease cash on the 2019s (at least last I checked) plus you have to factor in any penalties/early termination fees. You also have to look at what financing options are available. Generally you will not get as favorable terms from an outside source as you will from manufacture financing so there will be a cost there. My returns have been pretty decent so pulling out from investments will actually be more expensive than financing. For 2018s, I believe the rate is .9% and for 2019s it is 1.9%.

 

[BrainDoc]

What is crazy is I always remember these dealers taking 11 to 13k off physically written on the windshield in the dealership. I used to always ignore it because I was never interested in these cars. So I know they will discount them any time now with deep discounts on the 2018s now that the 2019 is out. It's a matter of time.

 

[Prospective G80 Owner]

It could be done but you would have to see if it pays. Right now there is no lease cash on the 2019s (at least last I checked) plus you have to factor in any penalties/early termination fees. You also have to look at what financing options are available. Generally you will not get as favorable terms from an outside source as you will from manufacture financing so there will be a cost there. My returns have been pretty decent so pulling out from investments will actually be more expensive than financing. For 2018s, I believe the rate is .9% and for 2019s it is 1.9%.

Well, if you're going to finance anyway, why not just lease for the full term and then make a decision whether to purchase the car at the residual value in three years? For one thing, the money factor on the lease will be less than the 1.9% you'll pay to finance a purchase through Genesis. Secondly, by delaying your decision to buy the car for three years, you're putting all the depreciation risk on Genesis rather than on yourself. I believe the current residual value is 53%, so if the RV is set at $29k for example and it turns out that G80s don't hold their value and they only bring $25k after three years, then you just turn in the car and the keys after 3 years and walk away. If, however, G80s turn out to be more popular than Genesis initially thought and the car is still worth $30k - $35k after three years, then you either buy and sell it and pocket a few thou, or if you still like the car, you write a check for $29k and buy a car for yourself worth $30k+.

If you're going to finance anyway, there's really not much of a downside to leasing. And this would be doubly true in the case of 2018s where Genesis is throwing in a bunch of lease cash from what I understand.

 

[TurtleBoy]

What is crazy is I always remember these dealers taking 11 to 13k off physically written on the windshield in the dealership. I used to always ignore it because I was never interested in these cars. So I know they will discount them any time now with deep discounts on the 2018s now that the 2019 is out. It's a matter of time.

Yes, it really is just a matter of patience. Hopefully us having it to wait and them being impatient and lowering the price early.

Another thing is that when waiting you don't usually have the choice of colors and trims that you would have early in the model year. I'm interesting in the Polar Ice and Havana Red, I may just have to pay the premium (less discount) to get one but hopefully not.

 

[Mcc]

What is crazy is I always remember these dealers taking 11 to 13k off physically written on the windshield in the dealership. I used to always ignore it because I was never interested in these cars. So I know they will discount them any time now with deep discounts on the 2018s now that the 2019 is out. It's a matter of time.

Sure. I bet if you waited 12 months or more you could get a much better price on today’s model.

 

[TurtleBoy]

Well, if you're going to finance anyway, why not just lease for the full term and then make a decision whether to purchase the car at the residual value in three years? For one thing, the money factor on the lease will be less than the 1.9% you'll pay to finance a purchase through Genesis. Secondly, by delaying your decision to buy the car for three years, you're putting all the depreciation risk on Genesis rather than on yourself. I believe the current residual value is 53%, so if the RV is set at $29k for example and it turns out that G80s don't hold their value and they only bring $25k after three years, then you just turn in the car and the keys after 3 years and walk away. If, however, G80s turn out to be more popular than Genesis initially thought and the car is still worth $30k - $35k after three years, then you either buy and sell it and pocket a few thou, or if you still like the car, you write a check for $29k and buy a car for yourself worth $30k+.

If you're going to finance anyway, there's really not much of a downside to leasing. And this would be doubly true in the case of 2018s where Genesis is throwing in a bunch of lease cash from what I understand.

Leasing could be the way to go but you can't really tell without real numbers at the time. The MF could be lower but you also need to add in the acquisition and disposition fees in order to calculate the effective financing rate which may be more or less than the financing rate at the time. In my opinion everything is just theory until you actually have the numbers for the deal sitting in front of you to be able to determine what may be the best course of action.

 

[Mcc]

Leasing could be the way to go but you can't really tell without real numbers at the time. The MF could be lower but you also need to add in the acquisition and disposition fees in order to calculate the effective financing rate which may be more or less than the financing rate at the time. In my opinion everything is just theory until you actually have the numbers for the deal sitting in front of you to be able to determine what may be the best course of action.

I believe that if you lease through Genesis there is no penalty or early termination fee. There is just the regular end of lease fee which is about $250. So no big deal to buy out your lease early.