Fair RV on a 2014 R-Spec lease?

[BkBlue]

A soon to be new First time Genesis owner

Lease is 36 mos/36k mi

Feel good about the negotiated price and will get a great APR or money factor whether loan or lease.

Dealer proposed 50% Residual. HMF advertising a 55% RV on the 2014 3.8s if you read the fine print.

What are people seeing in the wild?

I'll try to talk them up to 55% here in a while but benchmarking is always helpful!

Thanks!

 

[thebells]

From my leasing experience, residual values are not negotiable on new cars. They are set in stone by lenders based on a couple of national sources.

Where you can negotiate best is on the purchase price and any dealer fees. The interest rate is generally not negotiable either, except by changing lenders or by buying down the money factor.

Be sure to read the entire lease as we recently walked from an ally lease because of a huge fee at the end if we wanted to buy the vehicle.

Good luck....

 

[BkBlue]

Ended up sealing the deal and brought my new 2014 Parisian Grey R-Spec home a few hrs ago.

I have always bought used with cash and driven into the ground, so this was my first new car for myself let alone my first lease. (Although I have purchased 2 new Minis for my wife). Was very happy with my 15 yo Maxima for many years but ready for something nicer and can't stand the CVT in the current Maximas. Though not really that comparable, the Genesis ended up fitting the bill for what I wanted vs everything else I tested.

In any case I think I got a nice deal. $36.8k after rebate but before trade, or 23.8% off msrp . Fees were a little high for my taste but purchase price adjusted to compensate.

Ended up in a 36/36 lease at 1.9%apr/ 0.00079 money factor and 54% residual. 0 down, monthly payment of $340. I'm pretty happy with the deal and thrilled with the car. I opted for the lease b/c my family could be bigger in a few years and even if not I know I likely will want to move up to the next gen when there is a few years of inventory on the road and better deals to be had.

Anyway glad to join the club. I'm sure I will have at least a few dumb questions here for a while.

 

[thebells]

Nice deal. That's a lot of car for the money!

So I'm curious, were you able to negotiate the RV or did you go with a different financing source that happened to have a different residual? That's the only way I've heard of getting a better RV, but I'd love to learn something new about negotiating a car purchase/lease for my next one...

Inquiring minds want to know...

 

[BkBlue]

Upon further research I think the RV is locked by the leasing company (Hyundai Leasing in this instance) and periodically updated, so technically I didn't negotiate it. However the original payment quoted didn't come close to my math, even at the originally stated 50%, which is why I questioned it. Second, I showed them a Hyundai USA ad that had a 55% RV in the fine print for the 2014 3.8s.

I suspect they were adjusting numbers in the back office without being fully transparent, but who knows. Once the calculator and national Hyundai lease advertisement came out they were kind of sheepish.

I ended up getting a payment $100 less than originally quoted. But I don't think I necessarily negotiated anything incremental, I just keep them honest (the multiple sales and finance managers it took to sort it out, that is).

 

[thebells]

However you got there, it's a strong deal. Drive the heck out of the thing and enjoy it. I'm loving mine!