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Thoughts on Pricing?

bk_park

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Genesis Model Type
Genesis G70
The dealership(Chrysler, dodge, jeep, ram dealership) is 4 hours away from my location, and I am going to test drive this weekend.
The car is 2019 G70 with the sport package and 15k miles
Should I skip this 2019 G70?
do you guys think the OTD price is fair?
If I test drive the car, what kinds of things should I check?

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2022-04-02 160545.png
 
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Listen for rattles in the moonroof. This is the only real issue I've had. Not yet resolved. Check out the tires. Rears specifically. They wear fast.

Based on the photos it looks like it's in pretty good shape.

Price seems high but I must admit I'm a bit out of touch with the current market. I bought my 2019 Sport 3.3T w/ about 22k miles in February 2021 for $40k OTD in AZ. Taxes are likely similar. I would hope you could get it for that price at least. Mine was purchased from a Genesis dealership as CPO.
 
Listen for rattles in the moonroof. This is the only real issue I've had. Not yet resolved. Check out the tires. Rears specifically. They wear fast.

Based on the photos it looks like it's in pretty good shape.

Price seems high but I must admit I'm a bit out of touch with the current market. I bought my 2019 Sport 3.3T w/ about 22k miles in February 2021 for $40k OTD in AZ. Taxes are likely similar. I would hope you could get it for that price at least. Mine was purchased from a Genesis dealership as CPO.
I agree that the price is high because the car is not CPO, and the reconditioning fee doesn't make sense to me
 
Dealers are getting top price for cars these days. Check everything out that it works. Likewise it is not CPO which may be a red flag. Did the dealer say why the former owners wanted to trade it in? Will the warranties be extended or any other perks? To me being a cheap ass I think it's a bit high.
 
Is this a 2.0T or 3.3TT? Given today's crazy market, it's hard to say whether it's good or not. There is only some much you can deduce from numbers and Carfax history. These days, because of high resale value, lots of folks are trading in their cars, so the 2 owners thing might not be a big deal. A lot depends on how the car presents itself when you go look at it. Keep an open mind one way or another.

First thing I look at are the brake rotors. They tell a lot on how the car has been driven. With only 15k, the stock rotors should be smooth and even, without a lot of grooving, which would be a sign the car has been driven hard - more GO almost always end up with more WHOA. Tires tell similar stories too. Assuming they are stock tires, rears with visibly less tread left compared to the front would mean the loud pedal got smashed a lot. More outside edge wear, particularly on the front, meant corners where taken at brisk paces, which in and of itself isn't as big a negative, but can be added to above mentioned signs to get a better idea of what kind of driver the POs were.

If Carfax shows the first owner was registered in Fountain Valley, CA, I would be cautious. In our shopping, I'd come across a lot of earlier G70s that were bought back by Genesis Corporate and titled there for a length of time. Some are used as company mules, others just sat on the lot, but a number were probably dumped in the demo/press fleet. We saw a red one with not that many miles on the odometer but the brake rotors were grooved and scored badly. We walked away... expeditiously.
 
Dealers are getting top price for cars these days. Check everything out that it works. Likewise it is not CPO which may be a red flag. Did the dealer say why the former owners wanted to trade it in? Will the warranties be extended or any other perks? To me being a cheap ass I think it's a bit high.
didn't ask about trading in. Even though they told me about the reason, I don't trust dealer's word. the warranty remains 29months/44K miles for the factory and powertrain warranty
 
Is this a 2.0T or 3.3TT? Given today's crazy market, it's hard to say whether it's good or not. There is only some much you can deduce from numbers and Carfax history. These days, because of high resale value, lots of folks are trading in their cars, so the 2 owners thing might not be a big deal. A lot depends on how the car presents itself when you go look at it. Keep an open mind one way or another.

First thing I look at are the brake rotors. They tell a lot on how the car has been driven. With only 15k, the stock rotors should be smooth and even, without a lot of grooving, which would be a sign the car has been driven hard - more GO almost always end up with more WHOA. Tires tell similar stories too. Assuming they are stock tires, rears with visibly less tread left compared to the front would mean the loud pedal got smashed a lot. More outside edge wear, particularly on the front, meant corners where taken at brisk paces, which in and of itself isn't as big a negative, but can be added to above mentioned signs to get a better idea of what kind of driver the POs were.

If Carfax shows the first owner was registered in Fountain Valley, CA, I would be cautious. In our shopping, I'd come across a lot of earlier G70s that were bought back by Genesis Corporate and titled there for a length of time. Some are used as company mules, others just sat on the lot, but a number were probably dumped in the demo/press fleet. We saw a red one with not that many miles on the odometer but the brake rotors were grooved and scored badly. We walked away... expeditiously.
the car is 3.3TT. Here are some pictures of the car.
2022-04-26 115326.png
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Southern car. That's a big plus.

That looks like a top trim (Sport package). Nice! The driver left thigh bolster looks very clean (not all wrinkled). From what I can see so far, looks like an excellent candidate.

It's not at a Genesis/Hyundai dealer, so there is no CPO.

Look under hood and the undercarriage to make sure there hasn't been any signs of collision repair. IF everything else looks good, and the car gives you the good vibes in person, I'd say start hagglin'.
 
Have no desire to buy ANY car in this world of msrp PLUS pricing.

Re your quote page, wondering if the “market value quote” the original MSRP price?

I assume the so-called “discount” is the amount off the original price, depreciation etc. making it out the door with yesterdays used car pricing.

OK, I'm with that. However, $2,167 for reconditioning. As far as I’m concerned, this is just “new speak” for MSRP +.

Doc fee of $998! See above for new speak. Shouldn’t be anymore that $150-$200.

$639 for ??? Tax fees? What tax fees?

Total of $41,406. List MSRP price of a ’22 G70 starting at $37,175 for entry model.

IF all these extra fees will carry down in the future when the car is 3 years old, maybe I could live with these gouges, but I think they’ll disappear as soon as you leave the parking lot. In other words, just extra depreciation from day one.

Nice looking car though. Praying for the day when buying a car swings back to 50-50 (buyer verses dealer).
 
Doc fee of $998! See above for new speak. Shouldn’t be anymore that $150-$200
Take a look here. OP does not say what state they are in though but $995 in Florida!

My biggest question is, why is this car being resold every year. To me, not a good sign, no matter how the rotors or interior looks.
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Take a look here. OP does not say what state they are in though but $995 in Florida!

My biggest question is, why is this car being resold every year. To me, not a good sign, no matter how the rotors or interior looks.
Yes, going to its 3rd owner at 15K miles and three or four years seems excessive. Is there some subtle problem with this car that hasn't been solved so far?
 
Carfax might have a direct link to the Window Sticker of this car. 2019 G70 3.3T with Sport Package is typically around $50-51k MSRP. 2019 Genesis G70
 
It is amazing that this car, a '19 G70 has already had 2 owners with only 15,000 miles on the clock. Even if the car wasn't put into service until Jan of '20, that's less than 7,000 annual miles. Apparently the 2 previous owners didn't like something about it.

I only drove a G70 once when my G80 was being serviced. I had the G70 for about 3 days over a weekend and thought it was a great ride. My G80 feels like a boat compared to driving the G70. Yeah, the G80 is a great hwy cruiser, but the G70 I just felt more synced in while driving the G70 around town.

Disclaimer: I've owned about 35 cars in my lifetime and most of them were about the size of the G70 or even smaller. Easy to drive into tight parking places, etc. I was even thinking of getting a GV70, but I'm not about to do the MSRP plus dance to join the crowd.
 
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It is amazing that this car, a '19 G70 has already had 2 owners with only 15,000 miles on the clock. Even if the car wasn't put into service until Jan of '20, that's less than 7,000 annual miles. Apparently the 2 previous owners didn't like something about it.

I only drove a G70 once when my G80 was being serviced. I had the G70 for about 3 days over a weekend and thought it was a great ride. My G80 feels like a boat compared to driving the G70. Yeah, the G80 is a great hwy cruiser, but the G70 but I just felt more synced in while driving the G70 around town.

Disclamer: I've owned about 35 cars in my lifetime and most of them were about the size of the G70 or even smaller. Easy to drive into tight parking places, etc. I was even thinking of getting a GV70, but I'm not about to do the MSRP plus dance to join the crowd.
Keep in mind you have to factor in COVID. Many people were unexpectedly working from home and had very little reason to be driving.

I think you nailed it with your assessment of the G70 vs G80.
 
Keep in mind you have to factor in COVID. Many people were unexpectedly working from home and had very little reason to be driving.

I think you nailed it with your assessment of the G70 vs G80.
i think your rationalizing. I doubt many sold their cars after one year just because of Covid. That’s a big loss and the could have just unregistered it until Covid lessened. Two for this car, unlikely IMO.
 
Southern car. That's a big plus.

That looks like a top trim (Sport package). Nice! The driver left thigh bolster looks very clean (not all wrinkled). From what I can see so far, looks like an excellent candidate.

It's not at a Genesis/Hyundai dealer, so there is no CPO.

Look under hood and the undercarriage to make sure there hasn't been any signs of collision repair. IF everything else looks good, and the car gives you the good vibes in person, I'd say start hagglin'.
Thank you!
Where should I look closely under the hood and undercarriage in order to find any signs of collision repair?
I've never bought a used car...
 
I bought a barely used 2019 Mazda CX9 Touring in 2020, then sold it less than a year later. Why? I made about $2000 profit, even including excise tax I paid. I drove it less than 5k miles, through the depth of the pandemic. Geico even voluntarily reduced insurance premium for me because few folks were driving. Many were lucky enough to work from home, others were jobless.

I bought my 2019 Stinger with some 14k miles on the clock in late 2020 for $22.5k, near the end of the COVID lockdown. I've been looking at what a comparable Stinger sells for these days, and it's over $30k. I probably could sell it for a handsome profit too, but I like it too much to let it go. Judging by posts on Stinger/G70 FB groups, lots of owners traded their late models in.

The current secondary market is just a royal mess. Demand (and consequently prices) remain irrationally high. The proper thing to do is stay the heck away from the market if you possibly can, but that is not what a lot of people are doing.

No doubt buying used is always a gamble, as you never know exactly what was the car's history. But given the current market, short duration ownership isn't exactly that far out of norm.
 
Have no desire to buy ANY car in this world of msrp PLUS pricing.

Re your quote page, wondering if the “market value quote” the original MSRP price?

I assume the so-called “discount” is the amount off the original price, depreciation etc. making it out the door with yesterdays used car pricing.

OK, I'm with that. However, $2,167 for reconditioning. As far as I’m concerned, this is just “new speak” for MSRP +.

Doc fee of $998! See above for new speak. Shouldn’t be anymore that $150-$200.

$639 for ??? Tax fees? What tax fees?

Total of $41,406. List MSRP price of a ’22 G70 starting at $37,175 for entry model.

IF all these extra fees will carry down in the future when the car is 3 years old, maybe I could live with these gouges, but I think they’ll disappear as soon as you leave the parking lot. In other words, just extra depreciation from day one.

Nice looking car though. Praying for the day when buying a car swings back to 50-50 (buyer verses dealer).
MSRP was 50,620 for the car based on the window sticker, and The dealer lowered the OTD price to $39,000
 
Take a look here. OP does not say what state they are in though but $995 in Florida!

My biggest question is, why is this car being resold every year. To me, not a good sign, no matter how the rotors or interior looks.
I am living in Florida
 
Yes, going to its 3rd owner at 15K miles and three or four years seems excessive. Is there some subtle problem with this car that hasn't been solved so far?
No Idea...
 
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