G70 Lease Comparisons and Discussion (USA)

[TurtleBoy]

His money factor is .0002 as he self quoted. That is 4.8% as an actual interest rate. (.0002x 2400). This means he is borrowing the cap cost at 4.8% over the life of his lease down to the residual. This is why he may have got the larger dealer rebate. Most here getting money factors at less than 1%

You are missing a zero in your calculation, .0002 equals .48% and not 4.8%.

 

[Bill_7]

His money factor is .0002 as he self quoted. That is 4.8% as an actual interest rate. (.0002x 2400). This means he is borrowing the cap cost at 4.8% over the life of his lease down to the residual. This is why he may have got the larger dealer rebate. Most here getting money factors at less than 1%

Looks like the current offers based on edmunds are around a .00009 MF which would be consistent with below 1%

 

[Mcc]

His money factor is .0002 as he self quoted. That is 4.8% as an actual interest rate. (.0002x 2400). This means he is borrowing the cap cost at 4.8% over the life of his lease down to the residual. This is why he may have got the larger dealer rebate. Most here getting money factors at less than 1%

.0002 x 2400 = .48% not 4.8

 

[nellie1289]

You are missing a zero in your calculation, .0002 equals .48% and not 4.8%.

My bad. Fat finger.

 

[Mcc]

My bad. Fat finger.

So really the MF isn’t particularly bad. Not significantly worse than the lowest MF from Edmunds

 

[Tkpoint22]

So really the MF isn’t particularly bad. Not significantly worse than the lowest MF from Edmunds

Maybe $500 or so more than the best one I’ve seen (over the life of the lease). Seems he came out ahead with the dealer discount

 

[nellie1289]

Maybe $500 or so more than the best one I’ve seen (over the life of the lease). Seems he came out ahead with the dealer discount

Lease rate is definitely good !!! Anything less than 1% on any brand I consider a win. Free borrowings (money) in my mind. His total interest over life of lease is <$700

 

[danygenesis]

Lease rate is definitely good !!! Anything less than 1% on any brand I consider a win. Free borrowings (money) in my mind. His total interest over life of lease is <$700

Right now MF for a 3.3T is .00006 You will be paying around $50 interest for the whole lease
I leased my G70 in January and I will pay $53 in interests during life of the lease.

 

[Tkpoint22]

Right now MF for a 3.3T is .00006 You will be paying around $50 interest for the whole lease
I leased my G70 in January and I will pay $53 in interests during life of the lease.

So help me think thru this....assuming MF and cap cost stay same AND assuming I’m planning to buy out, would I be better off doing 36/15 vs 36/10? I know my monthly payment would be higher, but if I’m doing my math correctly, that’s due to the increased depreciation charge, but effectively the interest/rent charge drops, right? If interest/rent is the MF x (cap cost+residual), then I have lower interest with a lower residual. Right? Again, my payment would be higher, but not a big deal as that’s simply paying for depreciation on a car I’d eventually buy out anyway.

If I’m off base, lemme know, I’m a finance guy, but new to leases.

 

[danygenesis]

So help me think thru this....assuming MF and cap cost stay same AND assuming I’m planning to buy out, would I be better off doing 36/15 vs 36/10? I know my monthly payment would be higher, but if I’m doing my math correctly, that’s due to the increased depreciation charge, but effectively the interest/rent charge drops, right? If interest/rent is the MF x (cap cost+residual), then I have lower interest with a lower residual. Right? Again, my payment would be higher, but not a big deal as that’s simply paying for depreciation on a car I’d eventually buy out anyway.

If I’m off base, lemme know, I’m a finance guy, but new to leases.

Assuming that the MF is the same and you are going to buy out that's correct. You will be paying a lower interest rate for the depreciation cost (lease) of the car. There is something you need to keep in mind, the lease cash incentive. Not always is the same, sometimes you get more lease cash with a 36/12k than with a 36/10k or 36/15k. You need to find out what are the incentives right now.

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[Tkpoint22]

Assuming that the MF is the same and you are going to buy out that's correct. You will be paying a lower interest rate for the depreciation cost (lease) of the car. There is something you need to keep in mind, the lease cash incentive. Not always is the same, sometimes you get more lease cash with a 36/12k than with a 36/10k or 36/15k. You need to find out what are the incentives right now.

My understanding is it’s $3,500 for. 3.3t. Didn’t see/hear anything about it fluctuating based miles though

 

[danygenesis]

My understanding is it’s $3,500 for. 3.3t. Didn’t see/hear anything about it fluctuating based miles though

Sometimes there are. Ask for the numbers in Edmunds.com to be sure 100%

 

[jrosen9]

I've been looking at the G70 for awhile now. I don't have a need to purchase/lease a new vehicle until early August. I could possibly even wait until labor day. I know no one can tell me for sure, but do you think incentives/prices will drop in that time or is the month of July the time to lease/buy?

 

[Tkpoint22]

I've been looking at the G70 for awhile now. I don't have a need to purchase/lease a new vehicle until early August. I could possibly even wait until labor day. I know no one can tell me for sure, but do you think incentives/prices will drop in that time or is the month of July the time to lease/buy?

The lease cash incentive increased $500 from $3,000 to $3,500 on a 3.3t from June to July. I imagine they’ll continue to improve as technically the car is getting close to being out for a year now (altho not readily available in the states that long!). 2020s prob aren’t too far away from being released, altho no one knows when exactly.

The dealership near me has about 30-40 G70s on their lot. On one hand they say they’re selling like crazy and aren’t moving on price at all. MSRP is what you’ll pay they say. On the other, they let it slip that they are only selling 10/mo or so. In a city of 3M ppl and as the only game in town, that tells me they’re not moving quite as fast as they lead on. I’m in your boat, not in a rush and unsure of how much better the deals will get. My biggest downside to the car right now is poor gas mileage and premium fuel. That combo will cost an extra 750/yr compared to my current 4 banger. Altho I read that many folks here don’t use premium, so that would lessen the sting of ~21mpg avg.

If I could get a deal like @Ruach, I may pull the trigger in July

 

[Bill_7]

The lease cash incentive increased $500 from $3,000 to $3,500 on a 3.3t from June to July. I imagine they’ll continue to improve as technically the car is getting close to being out for a year now (altho not readily available in the states that long!). 2020s prob aren’t too far away from being released, altho no one knows when exactly.

The dealership near me has about 30-40 G70s on their lot. On one hand they say they’re selling like crazy and aren’t moving on price at all. MSRP is what you’ll pay they say. On the other, they let it slip that they are only selling 10/mo or so. In a city of 3M ppl and as the only game in town, that tells me they’re not moving quite as fast as they lead on. I’m in your boat, not in a rush and unsure of how much better the deals will get. My biggest downside to the car right now is poor gas mileage and premium fuel. That combo will cost an extra 750/yr compared to my current 4 banger. Altho I read that many folks here don’t use premium, so that would lessen the sting of ~21mpg avg.

If I could get a deal like @Ruach, I may pull the trigger in July

It seems like the deals have to get better especially as we get closer to the '20s coming out. Sounds like you have a lot of flexibility which helps too. I'd wait but just me

 

[Tonester]

It seems like the deals have to get better especially as we get closer to the '20s coming out. Sounds like you have a lot of flexibility which helps too. I'd wait but just me

I think the incentives will get better (not necessarily every month), but the other side of that is depleting inventory. I think Genesis is looking at the numbers much like the Fed Chairman adjusts interest rates based on the economy. If they need to move G70's, they step on the incentive pedal and we all jump at the great deals! If not, the cars sit and people eventually prefer a 2020 as we get closer to that.

So if there's a particular color/trim you're looking for, the supply will dwindle over time and you may have to travel a ways or purchase out of state. It's a gamble for sure, but not that risky really with 2020 models coming soon; unless you really want a 2019.

 

[JayceM]

The lease cash incentive increased $500 from $3,000 to $3,500 on a 3.3t from June to July. I imagine they’ll continue to improve as technically the car is getting close to being out for a year now (altho not readily available in the states that long!). 2020s prob aren’t too far away from being released, altho no one knows when exactly.

The dealership near me has about 30-40 G70s on their lot. On one hand they say they’re selling like crazy and aren’t moving on price at all. MSRP is what you’ll pay they say. On the other, they let it slip that they are only selling 10/mo or so. In a city of 3M ppl and as the only game in town, that tells me they’re not moving quite as fast as they lead on. I’m in your boat, not in a rush and unsure of how much better the deals will get. My biggest downside to the car right now is poor gas mileage and premium fuel. That combo will cost an extra 750/yr compared to my current 4 banger. Altho I read that many folks here don’t use premium, so that would lessen the sting of ~21mpg avg.

If I could get a deal like @Ruach, I may pull the trigger in July

I haven't checked for the others, but for the 3.3T AWD 36/12k they increased the incentive to 3500 but they also increased the MF to .00009 and decreased the residual by 1%. Kind of a wash. For the same purchase price and fees the price goes up by 3 bucks this month versus last month.

 

[danygenesis]

I haven't checked for the others, but for the 3.3T AWD 36/12k they increased the incentive to 3500 but they also increased the MF to .00009 and decreased the residual by 1%. Kind of a wash. For the same purchase price and fees the price goes up by 3 bucks this month versus last month.

RV should decrease with time and 2019 MY is getting old. The other numbers is just Genesis playing to increase/maintain sales.

 

[Imwithafriend]

I think the incentives will get better (not necessarily every month), but the other side of that is depleting inventory. I think Genesis is looking at the numbers much like the Fed Chairman adjusts interest rates based on the economy. If they need to move G70's, they step on the incentive pedal and we all jump at the great deals! If not, the cars sit and people eventually prefer a 2020 as we get closer to that.

So if there's a particular color/trim you're looking for, the supply will dwindle over time and you may have to travel a ways or purchase out of state. It's a gamble for sure, but not that risky really with 2020 models coming soon; unless you really want a 2019.

I agree with the concerns about the risks of waiting and the possibility of depleted inventory, based on my search thus far. At the same time, I would kick myself if prices significantly dropped in a month or two. I also wonder what the pricing for 2020 models will be. Will the lease incentives go away?

 

[FornicatorSteve]

BTW the current numbers for July are advantageous for any vehicle with an MSRP below 50,000. Anything 50k or above the 1% residual swing down eliminates the $500 in additional lease cash.

As for RWD 3.3T sport trims, you're only down $4-$8 total compared to last month depending on the MSRP.