End of lease buyout

[NVQB10]

I am at the end of my lease for my 2023 GV60. Here is the problem I have. I like the car and would like to buy the car from the lease. The buy out is $34k plus sales tax. Lets say the total is 38k (includes some Genesis garbage fees) I am told the FMV of the car is $25k. I have asked if Genesis finance will work with me on a lower buy-out price. I was told no. I have asked the dealer if they will do something for me to keep me in the brand and a customer of the dealership (I have had a number of balance due repair orders--so the dealership makes money off of me from service). I have not heard back from the dealership. If Genesis takes the car back, how much will they sell it for and how long will they have to hold onto the car until it turns into cash? I bet they will sell it for less than the 34k buy out. Plus with the new GV60's coming out with the larger batteries, how much more will the car depreciate?

Here is the deal Genesis. You WILL loss me as a customer. I will be off to Lexus which has a great customer experience and tends to depreciate at substantially slower rate. I would probably get into a RX350H Luxury. I know the power is not comparable, but I don't use the insane power of the GV60 too frequently (I want to keep my drivers license).
Get this, the capitalized cost of my GV60 was 72k. Now worth 25k, after three years. Who in their right mind would stay with a car brand with that kind of cost of ownership!! I know the maintenance of the EV is a lot less than the hybrid, but given how electricity prices have increased, there is not much if any advantage of electric over gasoline where I live (California).
Any thoughts on this?
Thanks

I hear your frustration and empathize with the position you are in. But it seems that you need to separate 2 issues: 1) Rapid depreciation of all early generation EVs from all mfgs and 2) the trials and tribulations of leasing.

The market dictates #1 and you would be in the same boat with any high-end luxury EV after 3-5 years. Just look at similarly aged EV Mercedes, Volvos, even Teslas, for rapid depreciation. This situation is not Genesis specific but certainly does apply to them.

The second issue is the way leasing usually works. When you lease a car, a separate company buys it from the dealer and leases it back to you. Even if that second company carries a similar name (think GMAC=General Motors Acceptance Corp.). You could expect in that case there would be SOME brand loyalty, but because that separate corporation is basically a bank, and no longer the dealer, the bottom-line money is all they care about. So when you blame "Genesis" for your predicament (or GM, Ford, Volvo, whomever), the dealer you bought it from rarely has any say in the matter. And the leasing arm does not get profits nor brownie points for cutting you a deal to stay with "their" brand--no matter what it is. They get measured and paid on their profitability, period. So the blame is not properly put on the dealer, or even any particular brand, but on the "system" of car leasing in general. It usually only makes sense if you or your company can take a personal tax expense write-off to lease. Otherwise, if you have a brand preference and loyalty it makes much more sense to buy the car outright (even if with a loan), drive it until near the end of the warranty period, and then trade it back in to the dealer (the original or another one) for a newer model. At that point you DO have leverage over the dealer (unlike your current predicament), because his new car sale is directly tied to how much value you get for your trade in.

But to assign blame to the dealer now for a bad end of lease situation is misdirected. They have not owned the car for over 3 years and cannot reasonably be expected to do anything about it.