G70 Lease Comparisons and Discussion (USA)

[Beefer]

That's incorrect. You have to put nothing in order to get the bonus lease cash.

To clarify...if you lease...you get Lease Cash Back. Regardless of what you put down...if anything.

 

[Throat Yogurt]

No, it is definitely not an objectively worse decision. In the overwhelming majority of cases it is just fine and in fact has its advantages such as saving on interest/rent charges. The only time there may be a downside is if the vehicle is totaled early in the lease. It is all a matter of the level of risk one wants to take. Just like some folks only put their money in CDs while other are 100% growth stocks. Potential earnings would be based in the risk of each.

Not all financial decisions can be made by formula. There is such a thing as psychological return which cannot be measured. That is why paying off a mortgage early may make sense even if higher returns can be had by investing that money instead.

No, it definitely is an objectively worse decision to put a lot of money down on a lease, particularly a Genesis lease (with a super low MF), like the $5k example shown above. A "psychological return" is the definition of a subjective decision, i.e. it cannot be measured. By all objective measures, you should not put a lot of money down on a lease, and instead use that money in an interest-earning way.

But certainly, if it makes someone feel better to have a $299 monthly payment by buying down the lease instead of saving the money, they should do that...it's their money. It's just not the best objective use of it.

 

[TurtleBoy]

You can keep italicizing all you want but it will still not make it correct. The MF for an Audi Q8 is .00222 which equates to about 5.33%APR. If a person chooses to put some extra down on their lease they would be "earning" more than they could in any interest bearing instrument. Sure, they could invest that money in something with higher risk to hopefully get a better return but historically that short term/high risk strategy would more than likely be riskier than them totalling their vehicle.

I will let you have the last comment should you choose to.

 

[Beefer]

 

[OMG70]

If a person chooses to put some extra down on their lease they would be "earning" more than they could in any interest bearing instrument. Sure, they could invest that money in something with higher risk to hopefully get a better return but historically that short term/high risk strategy would more than likely be riskier than them totalling their vehicle.

+1
Alternatively, the higher payment could be beneficial if you were to lease the car under a business (and you'd have a higher interest rate according to my dealer).

 

[Throat Yogurt]

You can keep italicizing all you want but it will still not make it correct. The MF for an Audi Q8 is .00222 which equates to about 5.33%APR. If a person chooses to put some extra down on their lease they would be "earning" more than they could in any interest bearing instrument. Sure, they could invest that money in something with higher risk to hopefully get a better return but historically that short term/high risk strategy would more than likely be riskier than them totalling their vehicle.

I will let you have the last comment should you choose to.

Yes, you can cherry pick a certain car with a high MF, but that still won't make it correct. Since we are on a Genesis G70 forum, let's consider the fact that the base lease rate on any model of G70 is less than you can make in the average checking account. By a factor of 4.

But don't take my word for it...the following publications all agree with me:

Should You Make a Down Payment When You Lease? | Edmunds

Should I Put Any Money Down When I Lease?

5 Costly Car Leasing Mistakes to Avoid | SmartAsset

https://leasehackr.com/blog/2015/9/19/8-things-you-should-know-before-leasing-a-new-car

I could go on, but you get the point.

 

[Ruach]

I'm in NJ. I didn't qualify for any rebates (competitive, conquest, etc.). Dealer discount $1.2k and lease rebate $5k. Monthly payment including all fees are $521
View attachment 19843.

Which dealership in NJ did you work with? I'm also in NJ. I've contacted almost all Genesis dealership in NJ but only 2 of them contacted me back... I was like.. what the hell do they want to sell the car or not?

 

[grapefruit]

Which dealership in NJ did you work with? I'm also in NJ. I've contacted almost all Genesis dealership in NJ but only 2 of them contacted me back... I was like.. what the hell do they want to sell the car or not?

Towne Hyundai in Denville, I was also was in touch with Wayne Hyundai and Hyundai of South Brunswick

Wayne Hyundai was one of the worst customer experience I've ever had while car shopping. Understand now why they wanted to break out the shopping experience for Genesis dealers...

 

[specialk]

Sorry it posted something before I was done. I am new here and I am in the La Area and if anyone has any advice on deals for G70 would be much appreciated. The dealer in Glendale I went to was great, but really no deals just sticker and dealer extras. Thank you in advance.

 

[CaliG70]

Sorry it posted something before I was done. I am new here and I am in the La Area and if anyone has any advice on deals for G70 would be much appreciated. The dealer in Glendale I went to was great, but really no deals just sticker and dealer extras. Thank you in advance.

Let me know what you are looking for! My father works down at Palm Springs Genesis and is willing to make a deal! I sent you a message.

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[TurtleBoy]

Sorry it posted something before I was done. I am new here and I am in the La Area and if anyone has any advice on deals for G70 would be much appreciated. The dealer in Glendale I went to was great, but really no deals just sticker and dealer extras. Thank you in advance.

It looks like Genesis of Glendale participates in the Hyundai Circle pricing so you may want to contact @r_spec to get a certificate which should get you around 3% under invoice plus incentives. You will be able to PM him after making 16 posts.

 

[CaliG70]

It looks like Genesis of Glendale participates in the Hyundai Circle pricing so you may want to contact @r_spec to get a certificate which should get you around 3% under invoice plus incentives. You will be able to PM him after making 16 posts.

I forgot about the post requirement. Palm Springs will accept circle pricing as well

 

[specialk]

It looks like Genesis of Glendale participates in the Hyundai Circle pricing so you may want to contact @r_spec to get a certificate which should get you around 3% under invoice plus incentives. You will be able to PM him after making 16 posts.

Thank you for the information much appreciated.

 

[specialk]

Let me know what you are looking for! My father works down at Palm Springs Genesis and is willing to make a deal! I sent you a message.

Thank you I will when I get home.

 

[specialk]

Awesome deal - definitely beats what I paid for mine - they had no acquisition fee? Would have loved to see their quote for the AWD 2.0t base - that's what I ended up getting ( for a lot more

Congrats that was a sweet deal and glad your Happy!

 

[specialk]

Yes, r_spec has been very generous and is furnishing Circle pricing certificates for those that PM him. If you want to get the price on the one that you are looking at, let me know the dealer and which car and I should be able to get it.

Wow that sound great!

 

[specialk]

Wow I am learning so much reading this blog I have to thank you. Almost drank the Kool Aid...Thank you everyone for the advice and tips!

 

[nellie1289]

I'm in NJ. I didn't qualify for any rebates (competitive, conquest, etc.). Dealer discount $1.2k and lease rebate $5k. Monthly payment including all fees are $521
View attachment 19843.

I’m still tryin to figure out how you got 5000 lease cash off the cap cost. That seems really good. Only thing I see odd here is how bad the residual is on a 10k mile lease. 50%. Wow. Nice money factor and discount overall on msrp when factoring in that lease cash.

 

[specialk]

Same here but I got to say I loved how the car rode and driving it was awesome!

 

[Ron926]

Hi. I have a question about the Circle A-Plan. From what I have seen explained here, under this plan you get around 3% under invoice plus incentives. Does this include lease cash as well? For example, I can use the Circle A-Plan to lease an AWD G70 3.3T Sport, and get the following discounts:

1. Invoice minus 3% of MSRP
2. $250 Circle Cash
3. $3000 lease cash
4. $1000 Conquest rebate which I qualify for

Do I understand this correctly? Thanks!