2010 V8 + Tech lease resid and money factor

[XBOHDPuKC]

Does anyone know what the ongoing money factor and residual value for a 2010 v8 + Tech gennie?

 

[smhirsch]

Does anyone know what the ongoing money factor and residual value for a 2010 v8 + Tech gennie?

Last I remember, the money factor for leasing as of 1st quarter 2010 was about .00139.

Residual varies based on the number of miles allocated for the lease itself. Back in February 2010, a 36 month lease @12K miles per year carried a residual of 52%, and a 36 month lease @15K miles per year carried a residual of 51%.

Hope that helps!

 

[XBOHDPuKC]

Thanks, exactly what I needed to know. Looks like corresponding interest rate is 3.3% which is still higher than the 2.9% available APR for 60 months. Choices, choices...

 

[smhirsch]

Thanks, exactly what I needed to know. Looks like corresponding interest rate is 3.3% which is still higher than the 2.9% available APR for 60 months. Choices, choices...

I know exactly what you mean and how you feel. I opted to lease my 4.6 since I have a "feeling" that Hyundai is holding back some "goodies" for 2012 and 2013 that have been hinted in other forums, and I didn't want to have any reason to think about resale value or how long to keep this one. Plus since the money factor is close (not as good, but still not terrible) it makes it a bit easier to digest the possibility that there may be some kind of incentive program to repeat-lease or roll into a newer Genesis sometime before maturity time arrives.

That was my logic at least!

 

[tjc78]

There is a $1000 rebate availble on leases, which should make up for the slightly higher interest rate.

 

[XBOHDPuKC]

talked to a dealer and he said there was no rebates, the money factor was 0.00325 which is sky high and residual on v8 / 36mo 47%. Totally stupid...

 

[smhirsch]

talked to a dealer and he said there was no rebates, the money factor was 0.00325 which is sky high and residual on v8 / 36mo 47%. Totally stupid...

Yeah, that's nuts... Those figures have either changed due to higher sales volume, or the dealer just doesn't want any leased vehicles leaving the lot.

Have you spoken to any other dealerships?

 

[Disaster]

talked to a dealer and he said there was no rebates, the money factor was 0.00325 which is sky high and residual on v8 / 36mo 47%. Totally stupid...

According to another person's post, he saw a $4000 rebate on 2010's and a $5000 rebate on 2009's, when at a dealership. The Hyundai website doesn't show anything, but sometimes special rebates are only offered in particular regions.

47% matches the 3 year residual number at KBB.com. The money factor is related to a person's credit rating, same as with a loan.

http://www.leaseguide.com/sn/car-lease-rate.htm

Why do car lease rates vary?
Lease rates vary from one lease company to another, and from one region to another. Rates can change daily and generally follow the same pattern as new-car loan rates (see Bankrate.com for national average interest rates).

Lease rates also depend on your credit score, just like with a loan. Leasers with high credit scores get the best rates.

 

[XBOHDPuKC]

According to another person's post, he saw a $4000 rebate on 2010's and a $5000 rebate on 2009's, when at a dealership. The Hyundai website doesn't show anything, but sometimes special rebates are only offered in particular regions.

47% matches the 3 year residual number at KBB.com. The money factor is related to a person's credit rating, same as with a loan.

http://www.leaseguide.com/sn/car-lease-rate.htm

i'm aware what money factor is related to, so how would they give any # not pulling any credit report. It's a moot point anyway.

 

[Disaster]

i'm aware what money factor is related to, so how would they give any # not pulling any credit report. It's a moot point anyway.

You are right. It doesn't make any sense giving out a lease factor without a credit check. Sounds like the dealer wasn't too interested in your business. I've experienced some pretty stupid behavior at dealerships.

I usually go in and am very straight up with the salesman. I tell them when I'm buying a vehicle, often that day, if available, and tell them I want a bottom line price. I've had them give me all kinds of runarounds, they need to talk to manager, they will give me a good price when they know I am buying it there...etc, etc. I walk out and let them know they lost a sale.

The salesman I bought the Genesis from was excellent. He didn't mess around and calculated his best price. I decided against the first car he showed me, a demo (actually my wife did) but told him I was still interested. He followed up with me when a better deal came along. I went in, did a little negotiating, and bought the car on the spot. The only hiccup was their finance person that tried to upsell me with ten different things and screwed up the price by $1500. The salesman helped get it straightened out. If he is still around when I am shopping for our next car he will get my business first.

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