Genny Sedan Depreciation

[cschuler]

Been doing some depreciation calculations and it seems that the Genny sedan that I leased (a 2010 at about 38 k new) will depreciate over three years as follows: 6k, 4k, 4k.

Does that seem reasonable? Many in this group seem to have a sense of Genny fair prices and reasonable depreciation.

 

[brihvac]

You bought a Hyundai people...what did you expect.

As much as people compare to BMW, Mercedes, etc.....Reality is ITS A HYUNDAI. They do not hold their value anywhere near big name luxury cars.

I traded a 04 E320 4matic for mine. The dealer lowered my car from $36,130 to $31,000. Then gave me $18K for my Mercedes that I had bought 3 months prior for $14K. With them giving me $4K more than what I paid for the Benz, I looked at it as I got that much more off the Genesis.

I like my Genesis, but it definitely is not my old Mercedes.

 

[STREETS]

Mercedes lose tons of value..remember it starts so much higher

 

[crhbobby]

Those numbers may be true from a retail standpoint.

I would estimate that the first year depreciation to be more like 10K. Then perhaps slow to 5-6K per year.

I bought my car V6 Tech used September 09 for 31,500. The trade in value that day was probably 27-28K. So lets say the car was 38K new..thats nearly 10K in depreciation.
Today - after owning the car a year, I would expect my car to be traded in for 22-23K. 5-6K in depreciation.

The first year is always a killer. I think that when the supply of off lease cars increases - the value of a used Genesis will drop as supply increases.

When I looked at depreciation rates of BMW, Mercedes, Cadillac, etc - they initial depreciation rates were just as bad. That is why I like to buy 1-2 year old well maintained cars. It allows me to afford a nicer car

These are just my opinions.

Bob

 

[STREETS]

How many miles where on your V6Tech at purchase?

 

[imaphaetonguy]

Just bought a '09 Genesis sedan 3.8 V6 Prem. & Tech pkg. with 10,100 miles for $26,900. MSRP was $40,100.

 

[Casey]

KBB estimates resale values, the link below is for the 2010 3.8, I've copied some comparisons of

2010 Genesis 3.8

New 100% $33,000.00
year 2 49% $16,170.00
year 3 38% $12,540.00
year 4 30% $9,900.00
year 5 24% $7,920.00

compared to a 2010 Lexus ES350

New 100% $35,175.00
2 56% $19,698.00
3 47% $16,532.25
4 38% $13,366.50
5 30% $10,552.50

compared to a 2010 Mercedes C 300 sport

New 100% $33,600.00
2 58% $19,488.00
3 47% $15,792.00
4 38% $12,768.00
5 30% $10,080.00

compared to a 2010 BMW 528

New 100% $45,950.00
2 53% $24,353.50
3 43% $19,758.50
4 34% $15,623.00
5 25% $11,487.50

or a 2010 Ford Taurus Limited

New 100% $31,770.00
2 48% $15,249.60
3 39% $12,390.30
4 32% $10,166.40
5 26% $8,260.20


http://www.kbb.com/new-cars/hyundai/genesis/2010/resale-value?id=262058

 

[brihvac]

Mercedes lose tons of value..remember it starts so much higher

Not as much as a Hyundai. I have had 1 new Mercedes and 2 used. Lost very little on the new one (sold almost 2 years after bought), drove the 2nd one for 2 years and 20K miles broke even, and made money on the last.

I dont pay sticker price for any auto. I always beat the dealer down and play all the dealers against each other. I have a car and truck and replace one a year. One year I get a new truck and the next I get a new car. So when I go into the dealer they know I dont screw around and I will walk out the door and buy from another dealer if their price is even $100 cheaper. I have owned 5 new Hyundai's including the Genesis since 2000. I have delt with the same sales manager (differant dealers)since 2000. He knows how I am and that if he takes care of me I will keep coming back to him. There is no salesman getting up a million times to talk to his manager. He knows if Im there Im buying within a week and I will walk if he doesnt get me the best deal possible. From what he has told me, at his dealerships they are alowed to sell 3 cars a month at a deeper discount than normal. The last 3 I bought I got with this discount. I priced a 2004 Elantra at 3 differant dealerships and 2 of them went down too the same price. I mean to the dollar! The sales manager I knew went even lower and explained this discount to me. He brought my Genesis from $36K to $31K. All the other dealers were $34K and $33K for the identical car. Also what he gave me for the Mercedes was spectacular. He did make a ton of phone calls and waited till he got a return call before he gave me a number on the trade. He had a buyer for it and it was gone the next day

 

[chilly mac]

Not as much as a Hyundai. I have had 1 new Mercedes and 2 used. Lost very little on the new one (sold almost 2 years after bought), drove the 2nd one for 2 years and 20K miles broke even, and made money on the last.

I dont pay sticker price for any auto. I always beat the dealer down and play all the dealers against each other. I have a car and truck and replace one a year. One year I get a new truck and the next I get a new car. So when I go into the dealer they know I dont screw around and I will walk out the door and buy from another dealer if their price is even $100 cheaper. I have owned 5 new Hyundai's including the Genesis since 2000. I have delt with the same sales manager (differant dealers)since 2000. He knows how I am and that if he takes care of me I will keep coming back to him. There is no salesman getting up a million times to talk to his manager. He knows if Im there Im buying within a week and I will walk if he doesnt get me the best deal possible. From what he has told me, at his dealerships they are alowed to sell 3 cars a month at a deeper discount than normal. The last 3 I bought I got with this discount. I priced a 2004 Elantra at 3 differant dealerships and 2 of them went down too the same price. I mean to the dollar! The sales manager I knew went even lower and explained this discount to me. He brought my Genesis from $36K to $31K. All the other dealers were $34K and $33K for the identical car. Also what he gave me for the Mercedes was spectacular. He did make a ton of phone calls and waited till he got a return call before he gave me a number on the trade. He had a buyer for it and it was gone the next day

Cool story, bro. And remarkably on topic.

 

[crhbobby]

Streets - Mine had 10K when I purchased it last year. It was August or September of 2009.

When I purchased my used car - there were only like 3 for sale within 150 miles used. I wanted a V8, but the dealers weren't budging off of 36K.

I ended up driving to Ohio to get my car. I spent some time getting the dealer to come down. At the time, 31,500 was a good price.

I just wish that I could have found a red V8 with cashmere interior. I had to settle with a red V6 with black interior.

Bob

______________________________

Help support this site so it can continue supporting you!

 

[YEH]

According to ALG (Auto Leasing Guide) the Genesis gets 3 stars for depreciation - which is the same rating for the 3 Series, 5 Series, C Class, E Class and GS.

The 7 Series gets 2 stars and the S Class 1 star.

https://www.alg.com/depratings

 

[cschuler]

According to ALG (Auto Leasing Guide) the Genesis gets 3 stars for depreciation - which is the same rating for the 3 Series, 5 Series, C Class, E Class and GS.

The 7 Series gets 2 stars and the S Class 1 star.

https://www.alg.com/depratings

Thanks for that link! I should have realized that there is a leasing guide out there!

Walked into my very first auto lease (the Genny) ignorant, but will not repeat that mistake.

 

[BacktoHyundaibychoice]

Thanks for that link! I should have realized that there is a leasing guide out there!

Walked into my very first auto lease (the Genny) ignorant, but will not repeat that mistake.

Funny because my Gen is my first lease that will end with positive equity in 2 months. About $5K worth.
Literally, I can purchase my current car for $23,500 and sell it for $28K same day, possibly more. But I'll likely buy it and trade for the 2012 Gen.

Like I always say, YMMV.