Post purchase price details here (US $ only)

[RockyG32]

Got the car tonight. Here are some awful pics until I can’t get some better ones. It was getting dark and car sandwiched in a bad spot on lot. It was fun to drive on the way home from Seattle. About 200 miles of lots of paddle shift rpm changers and speed variability. Keeping the rpms in recommended range.

Looks awesome. Can't wait to get mine

 

[RockyG32]

I thought I was clever as well to do the same thing. But here I am, a total fool for purchasing.

Haha. Oh well. Still a good deal to me. 48K out the door for an AWD Sport trim was better than I was expecting, all thanks to @r_spec !!

Does @r_spec only take messages? Is there another way to get a hold of him?

 

[TurtleBoy]

Does @r_spec only take messages? Is there another way to get a hold of him?

On here, that is the only way he has given to contact him. I don't think he would like his email published on a forum. You are getting close to being able to PM so you should be able to contact him soon.

 

[RockyG32]

On here, that is the only way he has given to contact him. I don't think he would like his email published on a forum. You are getting close to being able to PM so you should be able to contact him soon.

Makes sense. I'll PM him when I can. Thanks!

 

[Wahday]

took delivery of a 3.3 sport Siberian ice

After Circle discount price was $48, 358.25

They gave me $7K on my 2012 sonata (Matched car Max)

out the door at $43,696.25 with tax title, registration and all fees. Put 15K down. Financing. LOVE this car. Wish there was a tad bit more room in the back, but only the kids are in the back and they have plenty of room. When we go out as a family, we use the SUV.

Easiest deal I ever made. The only haggle was the dealer fee. I wanted to give them 200, they wanted 400, we met in the middle.

 

[TurtleBoy]

^ Congratulations. Good luck, enjoy and be safe.

 

[Wahday]

^ Congratulations. Good luck, enjoy and be safe.

Thanks! The color is really cool. I was originally looking at the Malorica Blue but they sold it 30 minutes before I showed up. It's off white in direct light, but it looks like a blue gray when looking at it from an angle. Really happy with the color

 

[Highhpta]

R_Spec,

Can you please PM me a Circle-A PIN and I will be forever in your debt as I'm chomping at the bits to buy a '19 G70 3.3t Sport.

 

[Tkpoint22]

I’ve been following the posts here for quite a while and just recently decided to join. Appreciate all the commentary...it’s been extremely helpful learning about the car and everyone’s experiences.

Could someone post a clean example with numbers/calc of the lease buyout and how that cost compares to a similar deal as a straight purchase? I’m understanding the lease buyout is better based on the discussion due to the lease cash, but have zero experience with leasing cars. I’m a “buy and keep the car 8 years” guy. Thanks!

 

[dzheng1887]

What's up guys, just got a G70 2.0T RWD Dynamic Package (first aid, rear bumper) $45,020 MSRP. 36/10k with .5 residual and .0001 MF and $4000 lease cash.

Fees were 750 acquisition, 71.25 document, 539 taxes.

No money down and $539 a month including a 9.5% tax rate (CA!) for the remaining 35 months. Works out to a selling price of $41,775. Not the best deal, but I am happy since I didn't spend a lot of time haggling and I needed the car like right now. They even drove 3 hours there and back to pick it up in white exterior/black interior for me.

I love the complimentary maintenance and valet we all get though. That's what did it for me honesty over the competitors but heard maybe it was spotty? But I am in LA so hopefully will be nice. They already need to take it in tomorrow to get the AC working better. lol

I did also get cosmetic damage protection for the tires/rims, windshield, dents, etc. It was $1345 which they told me was at cost but not sure. But it's a 0 deductible and practically as many times as I need. My last 2015 car, I had curb rash on 3 of the 4 tires/rims, I blew a tire, and lost my keyfob, and have like 6 or 7 dents/scratches in it. I'm not sure but I think that'll be more than $1000. What do you guys think about the insurance? This is my first lease so I am not sure what the standards are for return the car but Genesis seems forgiving. I can cancel anytime and they'll prorate me.

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Help support this site so it can continue supporting you!

 

[TurtleBoy]

^ Congratulations. Good luck, enjoy and be safe.

 

[RTK]

What's up guys, just got a G70 2.0T RWD Dynamic Package

Congratulations! You’ll want to change your profile form “No Genesis Yet” since you’re an owner now!

In terms of your cosmetic coverage, I hadn’t seen that before, but since it’s prorated and refundable, why not? I am careful about curb rash, but dents occur and most paintless dent places in LA and OC charade $75 per dent of $300 per panel. Windshield... that could be interesting to what that covers. All our windshields will get sand-blasted at some point, so I don’t know if your cosmetic coverage will cover replacement? Some insurance companies will pay for the replacement of a windshield, but it needs to have cracked.

Congrats again and I’ll see you on the road!

 

[TurtleBoy]

Could someone post a clean example with numbers/calc of the lease buyout and how that cost compares to a similar deal as a straight purchase? I’m understanding the lease buyout is better based on the discussion due to the lease cash, but have zero experience with leasing cars. I’m a “buy and keep the car 8 years” guy. Thanks!

Obviously each situation needs to be looked at with specific numbers and taking into account each person's financial situation as well as the applicable sales tax rules to make sure it is beneficial to lease and then purchase. That said, here is a quick example I threw together. I have listed my assumptions which of course will differ from your situation but it should give you an idea. In this example I'm using a 3.3t AWD Sport and comparing purchasing to leasing for 3/36 and then buying for the residual amount. I think all my calculations are correct but I welcome any corrections.

MSRP: 52,620
Selling Price: 48,400
Dealer Fees: 500
Acquisition Fee: 750
Purchase Fee: 300
Sales Tax: 6%
Money Factor: .00007
RV: 51%
Lease Cash: 3,000
Genesis APR: 1.9%
Future APR: 3%

Lease:
Upfront: 710 (500 fees and 210 taxes)
36 payments of 574: 20,664
Buyout at lease end: 28,746 (26,836 residual + 1,610 taxes + 300 purchase fee)
Financed for two years at 1,235 a month: 29,653
Total cost for leasing and buyout: 51,027


Purchase:
Total financed: 51,834 (48,400 selling price + 500 dealer fees + 2,934 taxes)
Total cost at 906 a month: 54,376

Savings by leasing and buying at the end of the lease: 3,349


Edit: Changed so the dealer fees in a purchase situation were taxable since they were treated that way in the lease calculations.

 

[SleepyElls]

Obviously each situation needs to be looked at with specific numbers and taking into account each person's financial situation as well as the applicable sales tax rules to make sure it is beneficial to lease and then purchase. That said, here is a quick example I threw together. I have listed my assumptions which of course will differ from your situation but it should give you an idea. In this example I'm using a 3.3t AWD Sport and comparing purchasing to leasing for 3/36 and then buying for the residual amount. I think all my calculations are correct but I welcome any corrections.
...
Lease:
Upfront: 710 (500 fees and 210 taxes)
36 payments of 574: 20,664
Buyout at lease end: 28,746 (26,836 residual + 1,610 taxes + 300 purchase fee)
Financed for two years at 1,235 a month: 29,653
Total cost for leasing and buyout: 51,027

Very helpful write-up. I was also wondering how the lease buy out works.

So this is assuming financing for five years in both cases? Two years at 3% APR for the lease buyout and and five years at 1.9% for purchase?

Do you know how it works out if the buyout is after a month or two, without financing? Is that the $300 purchase fee plus whatever the buyout is for the car at that point? I am also a buy and hold guy, so I am a bit unclear how the buyout amount is calculated for a lease being bought out early.

 

[TurtleBoy]

Very helpful write-up. I was also wondering how the lease buy out works.

So this is assuming financing for five years in both cases? Two years at 3% APR for the lease buyout and and five years at 1.9% for purchase?

Do you know how it works out if the buyout is after a month or two, without financing? Is that the $300 purchase fee plus whatever the buyout is for the car at that point? I am also a buy and hold guy, so I am a bit unclear how the buyout amount is calculated for a lease being bought out early.

You are correct, that example was using 5 years for financing in both cases. I was always under the impression that the early buyout amount was calculated by determining how much depreciation was left to pay on the lease. Either done by using the payments that have been made towards overall interest first (similar to a typical car loan/mortgage) or by reducing the original depreciation by the monthly depreciation payments that have been made. In either case, that remaining depreciation would be added to the residual amount.

Some have posted here that they did a buyout and the amount was the remaining payments + residual. That doesn't seem correct to me since those monthly payments included rent charges (interest on something you are paying off early) and taxes. I would have to see more details on that situation, perhaps something is missing in the description. My guess is that at least the taxes are removed from those payments since those have to be paid on the purchase.

The $300 would be added to the amount calculated above.

Hopefully others will chime in.

 

[TurtleBoy]

I never gave you a buyout amount for my example. When looking at the monthly payment breakdown, the depreciation reduction amount is 536.50 each month. The original depreciation amount was 19,314 (48,400 selling price + 750 acq fee - 3,000 lease cash - 26,836 residual) so after two monthly payments the remaining depreciation would be 18,241. That would make the buyout be 48,100 (18,241 remaining depr + 26,836 RV + 300 purchase fee + 2,723 taxes).

In this case the lease/buyout would costs a total of 49,958 (1,148 monthly payments + 710 upfront + 48,100 buyout). If you would have purchased with cash right away, the amount would have been 51,834. The saving for leasing and buying out after two months would be 1,876.

 

[nellie1289]

You are correct, that example was using 5 years for financing in both cases. I was always under the impression that the early buyout amount was calculated by determining how much depreciation was left to pay on the lease. Either done by using the payments that have been made towards overall interest first (similar to a typical car loan/mortgage) or by reducing the original depreciation by the monthly depreciation payments that have been made. In either case, that remaining depreciation would be added to the residual amount.

Some have posted here that they did a buyout and the amount was the remaining payments + residual. That doesn't seem correct to me since those monthly payments included rent charges (interest on something you are paying off early) and taxes. I would have to see more details on that situation, perhaps something is missing in the description. My guess is that at least the taxes are removed from those payments since those have to be paid on the purchase.

The $300 would be added to the amount calculated above.

Hopefully others will chime in.

The way your lease amortized down to the residual actually straight line. The total "interest" paid or your "rent" charge they call it on the lease you sign) on the life of the lease is then divided by 36 monthly payments. This is effectively the interest amount that Genesis charges you for borrowing $45,000 for 3 years at 1.1%. If you take that amount minus your payment that is how much your residual will amortize down each month as you make your monthly payments. It's one of the bizarre thing about leases, the interest is linear instead of a typical loan how the interest is higher in the early months and lower in the later months as you pay the principal down. So in theory your residual comes down faster in the early portion of the lease than it would if you were calculating a loan amortization.

Example: Lets say your cap cost is $45000(this is all in, calculated as what you pay for car plus $750 acquisition fee, plus license fees for your state, ignoring sales tax), your residual is $27,030, and your say your car MSRP is 53,000(roughly 51% residual). I am ignoring sales tax for this example(after all I'm in Oregon). your payment is 531.97 on a money factor of .00046(1.1%). Your total interest(or rent charge) on this lease is $1,181. They call it rent charge, it is interest, dont be fooled. So take $1,181/36 payments and this is $32.80 a month interest(rent charge). So after month 1 your residual is ($45,000-$531.97+$32.80), or $44,500.83. Each month your residual will go down $499.17 until you reach $27,030. Trust me, this is 100% accurate, i have leased 20+ cars and do leasing for a SEC publicly traded companies.

* might be some rounding in here but should be <$1.00

 

[TurtleBoy]

The way your lease amortized down to the residual actually straight line. The total "interest" paid or your "rent" charge they call it on the lease you sign) on the life of the lease is then divided by 36 monthly payments. This is effectively the interest amount that Genesis charges you for borrowing $45,000 for 3 years at 1.1%. If you take that amount minus your payment that is how much your residual will amortize down each month as you make your monthly payments. It's one of the bizarre thing about leases, the interest is linear instead of a typical loan how the interest is higher in the early months and lower in the later months as you pay the principal down. So in theory your residual comes down faster in the early portion of the lease than it would if you were calculating a loan amortization.

Example: Lets say your cap cost is $45000(this is all in, calculated as what you pay for car plus $750 acquisition fee, plus license fees for your state, ignoring sales tax), your residual is $27,030, and your say your car MSRP is 53,000(roughly 51% residual). I am ignoring sales tax for this example(after all I'm in Oregon). your payment is 531.97 on a money factor of .00046(1.1%). Your total interest(or rent charge) on this lease is $1,181. They call it rent charge, it is interest, dont be fooled. So take $1,181/36 payments and this is $32.80 a month interest(rent charge). So after month 1 your residual is ($45,000-$531.97+$32.80), or $44,500.83. Each month your residual will go down $499.17 until you reach $27,030. Trust me, this is 100% accurate, i have leased 20+ cars and do leasing for a SEC publicly traded companies.

* might be some rounding in here but should be <$1.00

That goes along with how I understood it to work. I think the post about the buyout being the total of the remaining payments may have been mistaken about what was being asked.

 

[Imwithafriend]

Obviously each situation needs to be looked at with specific numbers and taking into account each person's financial situation as well as the applicable sales tax rules to make sure it is beneficial to lease and then purchase. That said, here is a quick example I threw together. I have listed my assumptions which of course will differ from your situation but it should give you an idea. In this example I'm using a 3.3t AWD Sport and comparing purchasing to leasing for 3/36 and then buying for the residual amount. I think all my calculations are correct but I welcome any corrections.

MSRP: 52,620
Selling Price: 48,400
Dealer Fees: 500
Acquisition Fee: 750
Purchase Fee: 300
Sales Tax: 6%
Money Factor: .00007
RV: 51%
Lease Cash: 3,000
Genesis APR: 1.9%
Future APR: 3%

Lease:
Upfront: 710 (500 fees and 210 taxes)
36 payments of 574: 20,664
Buyout at lease end: 28,746 (26,836 residual + 1,610 taxes + 300 purchase fee)
Financed for two years at 1,235 a month: 29,653
Total cost for leasing and buyout: 51,027


Purchase:
Total financed: 51,834 (48,400 selling price + 500 dealer fees + 2,934 taxes)
Total cost at 906 a month: 54,376

Savings by leasing and buying at the end of the lease: 3,349


Edit: Changed so the dealer fees in a purchase situation were taxable since they were treated that way in the lease calculations.

Thanks, this is helpful.

 

[sparkddd]

On here, that is the only way he has given to contact him. I don't think he would like his email published on a forum. You are getting close to being able to PM so you should be able to contact him soon.

What is the requirement for pm ability? I looked everywhere, and I can't find that information