G70 Lease Comparisons and Discussion (USA)

[broervudu]

So...this was disappointing.

MSRP= 50,645
Circle A Price= 46,550.00
Lease cash= NONE
Incentives= NONE
Money Factor=0.00180 (!)
Residual= 50%
Fees= 684.00
Down Pymt= 3000
MONTHLY (incl/9.5% tax)=785.43
Due at signing =3000.00

I felt a little sick.

Hey Apthnyc, you asked about California tax are you in NorCal or SoCal?

 

[apothnyc]

Hey Apthnyc, you asked about California tax are you in NorCal or SoCal?

SoCal.

 

[OMG70]

There have been a few dealers that have been forthcoming in their processes in SoCal, but it seems like half the battle is showing up knowing what should be applicable and letting them know so they can't jerk you around on numbers.

 

[Buttonclicker]

Hi, I'm looking into getting the g70 2.0 AWD with the Elite package and the dealer offered me $3500 down at $370 a month on a 36 month lease with 12k miles a year. was wondering if you guys think thats a good deal or not?

 

[Friedmike]

New to the group. Owned a 1G and coupe but now in market for G70. Thought I’d share lease pricing I received yesterday in Orlando. Shopped 3 dealers who all had the exact car. G70 2.0t Sport. $46,100 MSRP. All leases 36/10 with all fees rolled into payment and only first payment due at signing. All numbers include 6.5% sales tax.

Dealer 1: $540 DAS, $540 per month. This one took about 2 hours of haggling and meeting 4 different employees.

Dealer 2: $570 DAS, $570 per month. Got price in about ten minutes and they said they couldn’t move at all on it as they only had 3 vehicles.

Dealer 3: $488 DAS, $488 per month. Took about an hour. These guys have 12 different ones on lot and 3 2.0t sports. Said this was a deal involving the GM as they wanted to move vehicles this week since they were going very slow. Couldn’t go a dollar lower, but would throw in tint. Even offered to swap the chrome handles and grill on an advance with smoke to try and find a few dollars more of savings if I was interested and would take the car.

I left without a car purely based on fact that I’m really struggling paying $30 more per month than a $52k Lexus or $50k BMW or $48k Giulia. The residual is killing leasing these cars. Maybe a June brings more lease cash. Or maybe I reconsider. My IS lease is up in 10 data.

 

[sethsquire]

New to the group. Owned a 1G and coupe but now in market for G70. Thought I’d share lease pricing I received yesterday in Orlando. Shopped 3 dealers who all had the exact car. G70 2.0t Sport. $46,100 MSRP. All leases 36/10 with all fees rolled into payment and only first payment due at signing. All numbers include 6.5% sales tax.

Dealer 1: $540 DAS, $540 per month. This one took about 2 hours of haggling and meeting 4 different employees.

Dealer 2: $570 DAS, $570 per month. Got price in about ten minutes and they said they couldn’t move at all on it as they only had 3 vehicles.

Dealer 3: $488 DAS, $488 per month. Took about an hour. These guys have 12 different ones on lot and 3 2.0t sports. Said this was a deal involving the GM as they wanted to move vehicles this week since they were going very slow. Couldn’t go a dollar lower, but would throw in tint. Even offered to swap the chrome handles and grill on an advance with smoke to try and find a few dollars more of savings if I was interested and would take the car.

I left without a car purely based on fact that I’m really struggling paying $30 more per month than a $52k Lexus or $50k BMW or $48k Giulia. The residual is killing leasing these cars. Maybe a June brings more lease cash. Or maybe I reconsider. My IS lease is up in 10 data.

With the caveat that I don't know the numbers, I have to say the 488/month on a 46k MSRP doesn't sound terrible in light of the low residuals.

I test drove a Giulia (briefly) expected to love it, but was underwhelmed. I tested a Genesis 3.3 and a 2019 BMW 330ix on the same day, and liked the Genesis way better. Probably had a lot to do with that sweet six, and nice features like cooled seats.

PS: Jealous of those low Florida sales taxes (and no state income tax!) I get hosed on federal, state AND NYC tax.

 

[Friedmike]

I agree with you on both counts. I love the distinctiveness inside and out of the Giulia. Hated the steering under 30 mph. Didn’t matter the mode. And I walked away believing there was truly no better a deal on the G70 available anywhere. Might not be true, but I think it is close. My issue was/is relative comparison. Caveat that the G70 is superior in most every way except dealership, reputation and residual to the Lexus IS, I can get a $50k IS 350 F Sport for $430 a month in a nice short 24 month term, and I’m left comparing every deal to it. I went in saying I’d lease the G70 at a magical max $450 per month number. Wanting the car badly, I let myself cave in with a $459 per month offer that they wouldn’t take. In 3 years there are going to be some beautiful and very affordable used G70s on the market. And if dealers aren’t moving units. Maybe in 3 months when the 2020s start coming, they’ll gave no choice but to do what Kia is doing with the Stinger and throw $6-10k lease cash at the various models.

 

[sethsquire]

I agree with you on both counts. I love the distinctiveness inside and out of the Giulia. Hated the steering under 30 mph.

THANK YOU! At the time I went to try out the Giulia I was driving a 2015 Civic Si (with pretty lousy electric steering) and also had a 2006 Miata (with wonderful hydraulic steering). Every single review of the Giulia praised its magical amazing steering, so I was expecting to be absolutely blown away. What a complete disappointment when I pulled out of the dealership and realized that the steering had absolutely no weight or feel at low speeds. It was so disappointing that, when I hopped back in my Civic Si to drive home, that steering felt great by comparison.

Oddly, I test a drove a Mercedes C300 sport the very next day, and thought it was a vastly superior car in every way, with much better steering feel.

 

[FLnak]

Hard to judge the deal without all the specifics (Selling price, residual, money factor, any incentives, etc...)

Off the cuff it seems there is room to improve there as a couple pages back there was someone with a 3.3 Sport lease at around $574/month.

From the last few days reading threads on here it seems like there are actually decent lease deals going on, especially if you get Circle A pricing and combine it with some of the current incentives being offered.

 

[sethsquire]

Hard to judge the deal without all the specifics (Selling price, residual, money factor, any incentives, etc...)

Off the cuff it seems there is room to improve there as a couple pages back there was someone with a 3.3 Sport lease at around $574/month.

From the last few days reading threads on here it seems like there are actually decent lease deals going on, especially if you get Circle A pricing and combine it with some of the current incentives being offered.

The residuals are low, but I think there's currently about 4000 in lease cash on 4 cyl G70's right now.

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[Tonester]

With r_spec's generous Circle pricing offer, I was planning to wait for the 2020 model year having guaranteed savings and no negotiating (yeah, I like the idea of 2nd year production and that it would not have sat in a storage lot for 8-10 months). But with these seemingly increasing lease cash offers each month and the fact that there are likely few changes in 2020, I am tempted to pull the trigger on a 2019 if the deal was right.

Also, I was planning to purchase outright rather than doing a lease (never have done a lease before), but now it seems like a lease is a 'no brainer' and a better deal than purchasing? Additionally leasing will give me a choice in 3 years. Choice is better than no choice.

Considering all things I have a few questions:

1. Does anyone know the trend for lease cash during the 2019 model year? Seems like Beefer got really good lease cash (~$3K) last year when the G70 was on fire at initial release and in short supply. But since then it seems to vary each month up and down. Bottom line is, can we expect lease cash to continue for the early 2020 release?
2. Do we think that lease cash is one of the incentives Genesis uses to move 2019 cars as we transition to 2020? i.e. LC will go higher each month until 2019 inventory is depleted? Any other incentives expected for 2019 or maybe just dealers more eager to negotiate?
3. Is there any reason to payoff a lease early rather than making the payments and then buying the car at lease end? My initial thought is that there may be no reason to payoff early since the MF is very low and I can invest that cash and typically get around 5% return.
4. I understand there is a $750 acquisition fee that applies to all leases. Are there any other "throw away" fees relating specifically to leasing?

Thanks in advance for any thoughts here, getting itchy for a G70!

 

[tarhoosier]

If you live in a sales tax state (California applies) then you pay sales tax when you initiate the lease and if you purchase from the lessor in, say, three years, you pay tax on that transaction. Paying twice, with a reduced, though significant, amount the second time.

 

[Ron926]

With r_spec's generous Circle pricing offer, I was planning to wait for the 2020 model year having guaranteed savings and no negotiating (yeah, I like the idea of 2nd year production and that it would not have sat in a storage lot for 8-10 months). But with these seemingly increasing lease cash offers each month and the fact that there are likely few changes in 2020, I am tempted to pull the trigger on a 2019 if it the deal was right.

Also, I was planning to purchase outright rather than doing a lease (never have done a lease before), but now it seems like a lease is a 'no brainer' and a better deal than purchasing? Additionally leasing will give me a choice in 3 years. Choice is better than no choice.

Considering all things I have a few questions:

1. Does anyone know the trend for lease cash during the 2019 model year? Seems like Beefer got really good lease cash (~$3K) last year when the G70 was on fire at initial release and in short supply. But since then it seems to vary each month up and down. Bottom line is, can we expect lease cash to continue for the early 2020 release?
2. Do we think that lease cash is one of the incentives Genesis uses to move 2019 cars as we transition to 2020? i.e. LC will go higher each month until 2019 inventory is depleted? Any other incentives expected for 2019 or maybe just dealers more eager to negotiate?
3. Is there any reason to payoff a lease early rather than making the payments and then buying the car at lease end? My initial thought is that there may be no reason to payoff early since the MF is very low and I can invest that cash and typically get around 5% return.
4. I understand there is a $750 acquisition fee that applies to all leases. Are there any other "throw away" fees relating specifically to leasing?

Thanks in advance for any thoughts here, getting itchy for a G70!

I'm in the same boat as you, as I'm trying to hold on until the 2020's are dropped before I buy. In addition to the reasons you stated, there are two minor changes in the 2020 model, from what I understand:

1) The dead button below the drive mode button on the 3.3T Sport is gone.
2) The trunk will auto-close on the 2020.

I think it is tough to judge what will happen with the 2020's as far as lease cash when they are released. Reason being that there are a lot more established Genesis dealers now that will have them right off the bat, compared to very few when the 2019's dropped. Hopefully this has the affect of flooding them and we will have the pick (and price) of the litter!

I definitely believe however that lease cash on any remaining 2019's will be phenomenal though. Only problem is you may not get the exact model/color that you may want.

 

[BigTree]

Edmunds says current incentives, RV & MF in L.A. are: 2.0t- .0001/$4,000 lease cash/50% RV. 3.3t - .00006/$2,500 in lease cash/53% RV.

The RV is really making this a tough car to lease without substantial additional discount from dealer and/or Circle cert, at least as a value proposition against its competitors. On the other hand, if you added enough options on the competition to equal those included on the G70 that difference is erased.

I've also considered waiting for the 2020s and hoping the 2019s will be a better deal since it appears the only difference may be the auto trunk close button (anything else?). That would depend on how much, and it what form of, subventing will Genesis do to move the cars. Typically RVs go down as the new model year cars arrive, but perhaps they will throw even more lease or dealer cash at the deals. All kinds of ways to do it depending on how fast they want to clear out the 2019s. The money factors are already about as low as they can go.

When I leased my '15 Genesis Ultimate in April 2016 Hyundai was pretty desperate to move the cars before the G80 badged cars arrived. The basic terms of my 36 month 10k miles lease was a net cap cost (after dealer and factory incentives) which reduced the $51k sticker to about $39k and a MF of .00001. I don't recall the residual but my monthly payment is $400! That's going to be tough to give up so not in a huge hurry and extending month to month until I see the deal I want.

 

[TurtleBoy]

Considering all things I have a few questions:

1. Does anyone know the trend for lease cash during the 2019 model year?
2. Do we think that lease cash is one of the incentives Genesis uses to move 2019 cars as we transition to 2020?
3. Is there any reason to payoff a lease early rather than making the payments and then buying the car at lease end?
4. I understand there is a $750 acquisition fee that applies to all leases. Are there any other "throw away" fees relating specifically to leasing?

1. Here is the LC history for the 3.3AWD Sport:
Nov - $2,500
Dec - $2,500
Jan - $1,000
Feb - $1,000
Mar - $1,000
Apr - $1,500
May - $3,000

2. It is anybody's guess but I think historically you can probably assume so. The G70 sales have stagnated the last few months so that is probably why you see the big jump in May.

3. In general that would depend on the money factor, interest rates, earnings, etc. In the case of the G70, currently the MF is very low so it may pay to keep It until lease end if you decide to start with a lease.

4. There is also a disposition fee of $400 when you end your lease and do not lease/purchase another through Genesis Finance.

Hopefully that helps.

 

[EdP]

If you live in a sales tax state (California applies) then you pay sales tax when you initiate the lease and if you purchase from the lessor in, say, three years, you pay tax on that transaction. Paying twice, with a reduced, though significant, amount the second time.

What do you pay for up front? In CT, you paid tax on the lease amount monthly. If you purchased later, you paid for the purchase price. You paid two different times, but the total is close to what you'd pay if you bought.

 

[TurtleBoy]

What do you pay for up front? In CT, you paid tax on the lease amount monthly. If you purchased later, you paid for the purchase price. You paid two different times, but the total is close to what you'd pay if you bought.

Some states calculate the sales tax on the full price of the vehicle and you have to pay it upfront and not monthly like most states. I do not know if you pay again when purchasing or receive credit for it.

 

[SeekingGen]

I bought mine and had not planned to finance, but Genesis has a "balloon finance" available that if you use it they deduct $1,000 of MSRP; you can then repay the loan as early as you want without having to accumulate and pay the interest--I don't recall exactly what the interest is, but if you pay get the payoff amount and pay in full, it may be worth looking at. (Assuming the lease deal gives you $3,000 off but then you have a $750 fee + additional taxes.) Just a possibility to consider.

 

[TurtleBoy]

If you live in a sales tax state (California applies) then you pay sales tax when you initiate the lease and if you purchase from the lessor in, say, three years, you pay tax on that transaction. Paying twice, with a reduced, though significant, amount the second time.

That is not correct, like most states, California charges sales tax monthly and not upfront.

 

[BigTree]

To clarify, my Edmunds lease incentives were both on RWD only models. No AWD inventory to speak of in L.A., not that I'd want it anyway. With the current numbers the 3.3t terms are a little better "value" since the .00006 MF is microscopic and the extra 3% of RV is worth about $1,500 (assuming $48k+ MSRP) in cap reduction thus making up the $1,500 difference in lease cash. As a '15 Genesis owner I also will get $1,000 back from the pano roof settlement if I buy another Genesis/Hyundai product (as long as it doesn't have a pano roof...G70 "wide" roof is fine). So in my mind I throw in the $400 dispo fee and the $1,000 gift into the deal which "reduces" the effective monthly lease payment by about $40 making the deal even sweeter!