Post purchase price details here (US $ only)

[jrosen9]

Best place that I have found is the Edmunds' forums. They will give the current MF, RVs and any lease cash/incentives (other than the normal conquest, loyalty, military, etc.).

2019 Genesis G70 Lease Deals and Prices

To find the incentives available by model/trim autobytel is a good source.

2019 Genesis G70 Incentives and Rebates | Autobytel.com

I always intended to buy with financing and never realized I could actually get a better deal by leasing the vehicle and then buying. I did have a couple of questions.

1) Since the plan is to buy the vehicle in the end, does the residual and yearly mileage matter?
2) Since the MF/Interest is less than anything you would get with financing, does it make sense to have a 48 month lease since according to the autobytel website both the 48 and 36 month leases have the 4000 lease cash? In my mind the best way to handle this would be to take the lease to the end and then buy the vehicle using outside financing to cover the the residual.
3) Is it better to overpay the monthly lease payments to pay down the end residual or just put whatever is over the monthly payment into an interest bearing account and use that as "down payment" when buying the car out? I'm fairly certain its the latter but I just want to see if I'm missing something here.

Thank you for all of this information.

 

[TurtleBoy]

I embedded my thoughts below in bold.

I always intended to buy with financing and never realized I could actually get a better deal by leasing the vehicle and then buying. I did have a couple of questions.

1) Since the plan is to buy the vehicle in the end, does the residual and yearly mileage matter?

The RV is tied to the yearly mileage. You would have to work out the numbers in order to determine if one is more advantageous than the other. More than likely it would be best to have the lowest lease mileage but you need specifics. I have read where people who went over the mileage allowance were charged for the overage even though they wanted to buy the vehicle at lease end. I don't think Genesis would do that but the way to get around it would be to buyout before the limit is hit.

2) Since the MF/Interest is less than anything you would get with financing, does it make sense to have a 48 month lease since according to the autobytel website both the 48 and 36 month leases have the 4000 lease cash? In my mind the best way to handle this would be to take the lease to the end and then buy the vehicle using outside financing to cover the the residual.

The MF for a 48 month lease will be higher so you need to work it out. Do not just compare interest rates when looking at the lease versus buy question since that is an incomplete comparison. You should always look at the entire cost of the transaction due to the fees as well as how interest is calculated. Also keep in mind that when you buy it at lease end it will be a used car so your financing will generally be at higher rates than new. You need to make an educated guess as to what that rate may be. It could be better to purchase new with a little higher rate than lease at a low rate and buy used at a much higher rate. When lease cash is involved though, depending on the amount, that will overcome any charges or interest difference but you need to run the numbers. A good tool to use is the lease calculator at Leasehackr. https://leasehackr.com/calculator

3) Is it better to overpay the monthly lease payments to pay down the end residual or just put whatever is over the monthly payment into an interest bearing account and use that as "down payment" when buying the car out? I'm fairly certain its the latter but I just want to see if I'm missing something here.

You can't buy down the RV, that is what you would buy the vehicle for at the end of the lease and is set in the contract. With the extremely low MFs right now, your basic hight interest account will return much more than the lease interest.

Thank you for all of this information.

 

[nellie1289]

Only thing I would add is I have never heard of getting charged mileage before your buy car out. This is why 99.9% of people buy a car out of lease is to avoid mileage charge. Residual is totally irrelevant if you 100% know you are going to buy car out. In some regard a crappier residual percentage would act more like a loan and you would pay more car off during the lease than you typically would otherwise. Let’s for example say a 47% residual. Bottom line if you are buying out at end but how you will finance or at end of lease is your biggest variable. You need to have a plan especially if interest rates rise in the next few years. Pay cash or new loan on a used car is your only option. As he points out above the lease incentive lowering what you pay for car is going to cover a lot of interest you might otherwise pay later !

 

[TurtleBoy]

Only thing I would add is I have never heard of getting charged mileage before your buy car out. This is why 99.9% of people buy a car out of lease is to avoid mileage charge.

When I first came across that last year I thought it was odd also. I just did a quick search and the second site I looked at mentioned it, probably happens but rare.



https://www.ifsautoloans.com/blog/buy-car-lease-early/

 

[Carguy81]

Hi all,

I was granted the Circle O-Plan through a contact at Hyundai. I finally found the car I want, and the through circle the price is reduced from $50,620 to $40,334. I'm planning to lease, and was expecting numbers in the low $400s at the most with $2500 down and 15k miles per year given the publicly available money factor of .00007.

When I received my quote, it was for $675/month. Shocked, I asked the dealer what money factor they were using. For some reason, this dealership is telling me that, because of the Circle O-Plan, there is a corporate policy (I made sure to ask if this was corporate or dealership policy) that they use a money factor of .003 instead. Does anyone know if this is true? Seems like BS to me, as the whole point of Circle is to give people a better deal.

I would try to attain a Circle A-Plan certificate. 3 years ago, I had inquired about using the E-Plan for a Hyundai Genesis, but I was told the money factor would be a standard rate for a lease and very high. I believe the other plans do not combine with promotional money factors/interest rates. I ended up using the Circle A-plan and I received all incentives along with the low money factor at the time.

 

[ryan_g]

I would try to attain a Circle A-Plan certificate. 3 years ago, I had inquired about using the E-Plan for a Hyundai Genesis, but I was told the money factor would be a standard rate for a lease and very high. I believe the other plans do not combine with promotional money factors/interest rates. I ended up using the Circle A-plan and I received all incentives along with the low money factor at the time.

Just had my Hyundai contact switch me to A-Plan earlier today. Hopefully will be able to make things work now!

 

[nellie1289]

When I first came across that last year I thought it was odd also. I just did a quick search and the second site I looked at mentioned it, probably happens but rare.

View attachment 20781

https://www.ifsautoloans.com/blog/buy-car-lease-early/

I just looked at my lease. This is not the case on the genesis

 

[jrosen9]

Do not just compare interest rates when looking at the lease versus buy question since that is an incomplete comparison. You should always look at the entire cost of the transaction due to the fees as well as how interest is calculated.

First, Thank you for the lengthy response. It definitely gives me a lot to consider. With regards to the above statement, what are typically the fees you have with leasing that you don't have with purchasing out right? I know you have $300 fee to buy out the lease and I think I saw a $750 fee to take possession of the vehicle. Are there any other fees that are lease only? Conversely, are there fees you typically pay when purchasing a vehicle that you don't pay when leasing?

 

[TurtleBoy]

First, Thank you for the lengthy response. It definitely gives me a lot to consider. With regards to the above statement, what are typically the fees you have with leasing that you don't have with purchasing out right? I know you have $300 fee to buy out the lease and I think I saw a $750 fee to take possession of the vehicle. Are there any other fees that are lease only? Conversely, are there fees you typically pay when purchasing a vehicle that you don't pay when leasing?

Those would be the fees I was referring to, the acquisition fee and the purchase option fee. If you weren't buying after the lease then there could be disposition, extra mileage or wear/tear/damage fees. I don't know of any fees that apply to purchasing and not leasing. Another thing to check on is how sales tax on leases are handled in your state. In most states it is just a monthly amount based on the payment but in some states the sales tax is on the entire price of the vehicle and must be paid up front. If you live in one of those states check to see how the sales tax is handled when you purchase the vehicle after the lease. Hopefully they will give you some type of credit so you don't have to pay the sales taxes again. If you do, then add that extra amount into your calculations.

 

[BobLoblaw]

For those that have leased Genesis in the past, how accurate have you found the residual value compared to the actual market value at the end of your lease? Is it fairly accurate or inflated? Probably harder to tell for a newer brand & model, but curious if there's a trend for it already.

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[nellie1289]

For those that have leased Genesis in the past, how accurate have you found the residual value compared to the actual market value at the end of your lease? Is it fairly accurate or inflated? Probably harder to tell for a newer brand & model, but curious if there's a trend for it already.

My 2016 genesis ultimate residual was about 1k higher than fmv. This is not a bad thing when tossing the keys.

 

[Mcc]

Interesting. Can you provide more details? Did you already know what the early buyout amount would be before you started the lease? How long before you bought it? How much in fees did you end up paying?

Sorry DefinitelyMaybe that it has taken so long to reply, I had to dig out the paperwork
Yes you always know the buyout amount before you start. It is the residual plus the unmade payments plus the tax on those payments. I bought out about 6 weeks after I leased it. Long enough to get all the lease details recorded and set up with Genesis Finance. Here are the fees:
There is tax on the capitalized reduction
Plus
Acquisition fee $750
License, title and registration
Document processing $80
Tire Fee $8
Electronic Registration $29
That is all, nothing more.

I looked at the buyout and there is no disposition fee. Just the straight balance owed.

 

[Tonester]

Sorry DefinitelyMaybe that it has taken so long to reply, I had to dig out the paperwork
Yes you always know the buyout amount before you start. It is the residual plus the unmade payments plus the tax on those payments. I bought out about 6 weeks after I leased it. Long enough to get all the lease details recorded and set up with Genesis Finance. Here are the fees:
There is tax on the capitalized reduction
Plus
Acquisition fee $750
License, title and registration
Document processing $80
Tire Fee $8
Electronic Registration $29
That is all, nothing more.

I looked at the buyout and there is no disposition fee. Just the straight balance owed.

Seems like none of these fees have anything to do with "early buyout" as these are typically paid at the beginning of the lease. Good to know there are no penalties for early payoff as some have suspected. That said, with the low MF (typically less than 0.5%) it may be wiser to continue the payments and buy at lease completion.

 

[Mcc]

That said, with the low MF (typically less than 0.5%) it may be wiser to continue the payments and buy at lease completion.

Perhaps. When I leased the MF was terrible but the lease cash was about $6k.

 

[DefinitelyMaybe]

Sorry DefinitelyMaybe that it has taken so long to reply, I had to dig out the paperwork
Yes you always know the buyout amount before you start. It is the residual plus the unmade payments plus the tax on those payments. I bought out about 6 weeks after I leased it. Long enough to get all the lease details recorded and set up with Genesis Finance. Here are the fees:
There is tax on the capitalized reduction
Plus
Acquisition fee $750
License, title and registration
Document processing $80
Tire Fee $8
Electronic Registration $29
That is all, nothing more.

I looked at the buyout and there is no disposition fee. Just the straight balance owed.

Good info. Thanks!

 

[Dresulam]

If anyone wants Hyundai Circle pricing, feel free to send me a PM.

I'm new to the forum. How do you send a private message to people directly? Also, I wanting to know know more information about the r_spec Hyundai Circle pricing. I originally had a sweet deal with the Circle O Plan due to a friend/family working for Hyundai Motor Manufacturing America. This was back in April when I reached out to the person. During the two month stretch I was getting my finances and money in order to either finance or lease the vehicle. I went by the Genesis dealership to test drive a G70. I test drove the car and just fell in love with the vehicle. I told myself the decision was made, I going get the G70. I reached out to my friend to see if he can prove me the PIN number so that I can give to the dealership. I get a response from him saying that he has moved jobs. I'm reaching out to you,R_spec, to see if you can provide me a Hyundai Circle plan pin number. Any help would be greatly appreciate. Thanks!

 

[TurtleBoy]

^ You need to have at least 16 posts in order to PM. Then you can click on the member's name and choose Start Conversation,

The Circle A pricing should end up being better for you since you can also get the incentives which are not available under Circle O.

 

[Dresulam]

^ You need to have at least 16 posts in order to PM. Then you can click on the member's name and choose Start Conversation,

The Circle A pricing should end up being better for you since you can also get the incentives which are not available under Circle O.

Does the 16 post have to been under this particular conversation feed?

 

[Beefer]

No

 

[Dresulam]

No

@Beefer remember I'm a newbie so cut me some slack, but I don't see where I can start a PM conversation. I have 19 post/message I replied back to. Maybe I'm confused on the term "post"