Bad idea to buy now?

[Sayantsi]

With October looming, do you think its a bad idea to purchase a new Genesis now? Any thoughts on Hyundai actions in October if 2010 models are out?

 

[moose66]

Depends. . . . . on whether you want a new model with some changes to equipment, handling, etc., which will almost certainly come at a slightly higher price. Or take advantage of what should be decent pricing on any remaining 09's the dealers may want to get off of their lot to make room for the 10's.

If it were me, I would wait. Just to see what the 2010 has to offer. The 09's might still be around then. If not, oh well!

 

[JayJay]

I would take the 09's personally, you can get them under invoice right now, just wait until the end of the month and they will do anything to earn your business. The '10 just didn't have enough difference for me to have to wait another few months before dealers would start making good offers.

 

[Rantech]

It all depends how long you are going to keep the car. Let's assume that you are only going to keep the car 4 years. When you go to sell it in 2013 the 2009 Genesis will have a whole extra years depreciation even though you only owned it 1 - 2 months longer than if you had waited for a 2010 model.

If you look at the difference that 1 year makes in the resale value of a similiar 4 year old car like the Infinity G35/37, you are looking at a loss of between $7,000 and $8,000.

Even if you get the car at invoice, you are only saving something around $3,000 so is it worth it if you are going to loose $7,500 in 4 years.

The longer you own the car, the less difference there will be in resale between a 2009 and 2010 and the more likely you are to be money ahead by buying now. However, based on the discounts you're likely to get, it probably ain't worth it unless you plan on long term ownership.

I'm waiting for the 2010 model.

 

[Sayantsi]

I plan on keeping the car long term - my biggest concern is really any additional incentives on 09s that may show up once 2010s are shipping. I'm not too worried about depreciation - I plan to own the car through its 10 yr/100k mi warranty. 2010s are to start showing up in October, correct?

Based on the new packages, I think I'd want a 09 over a 10 anyway. The outgoing Premium Plus package will net me 18" wheels without Nav - something I already have in less expensive, cheaper to update/replace, mobile devices. I have a line on a 3.8 with PP in the color I want for $32k, so its pretty much time to make the decision.

 

[crupp]

If you keep your vehicle a long time and are not interested in some of the potential changes for 2010 I would go ahead and get one now. Make sure you do an extensive test drive. I actually took the car for 24 hours before buying mine.