G70 Lease Comparisons and Discussion (USA)

[TurtleBoy]

As I'm perusing this thread and researching what a good lease deal is, or isn't, any thoughts to this quote I just received on a zero down, 36 month, 10,000 miles annually lease?

MSRP
$47485.00

LEV
$23267.65

Initial Cap Cost
$44000.00

Rebate
$4250.00

Acquisition fee
$750.00

Dealer Fee
$668

Money Factor
.00037

Payment including fees/taxes is $578.23

I appreciate any thoughts. I've always purchased, never leased, and was intrigued so I'm chatting up a salesperson at a Genesis dealership next state over.

Without more detailed information in regards to discounts, fees due at signing, etc. it is tough to evaluate the deal overall but they are marking up the MF about 9 times higher than it should be, guessing you are going for a 2.0 and the base MF is .00004.

 

[NJB333]

As I'm perusing this thread and researching what a good lease deal is, or isn't, any thoughts to this quote I just received on a zero down, 36 month, 10,000 miles annually lease?

MSRP
$47485.00

LEV
$23267.65

Initial Cap Cost
$44000.00

Rebate
$4250.00

Acquisition fee
$750.00

Dealer Fee
$668

Money Factor
.00037

Payment including fees/taxes is $578.23

I appreciate any thoughts. I've always purchased, never leased, and was intrigued so I'm chatting up a salesperson at a Genesis dealership next state over.

In order to evaluate that some more information would be useful. What engine does it have? Is it RWD or AWD? What package/s does it have? What is the tax rate in your area? What are the fees for the plates and title in your state? Does the monthly payment include all taxes and fees or are you paying for anything upfront?

Just glancing at it, the Money Factor (MF) seems high, over at the Edmunds forums the MF factors have been around either 0.00009 for a 3.3t engine or 0.00004 for a 2.0t engine. I also believe that Dealer Fees are generally negotiable so try to get that down or even removed completely if you can. They still get paid for selling a car even if its at invoice, no reason for them to make more money off you by charging a fee to sell you a car.

 

[danygenesis]

In order to evaluate that some more information would be useful. What engine does it have? Is it RWD or AWD? What package/s does it have? What is the tax rate in your area? What are the fees for the plates and title in your state? Does the monthly payment include all taxes and fees or are you paying for anything upfront?

Just glancing at it, the Money Factor (MF) seems high, over at the Edmunds forums the MF factors have been around either 0.00009 for a 3.3t engine or 0.00004 for a 2.0t engine. I also believe that Dealer Fees are generally negotiable so try to get that down or even removed completely if you can. They still get paid for selling a car even if its at invoice, no reason for them to make more money off you by charging a fee to sell you a car.

At least in Florida dealer fee is NOT negotiable and could be as high as $999. You can haggle to lower price under MSRP but not the dealer fee.

 

[JeremyTD]

Thanks everyone. I’ve been spending the afternoon reading up on leases. After doing so I agree the MF is high.

To answer other questions it’s a 2.0 AWD Dynamic. I’m in Indiana but would be leasing in Kentucky in this example. From my understanding I pay Indiana taxes (7%) not Kentucky. Still researching as I’m in no hurry to get a new car.

I’ve negotiated deals before. The MSRP, Dealer fees, etc I’m comfortable and knowledgeable enough with to negotiate. Money Factor and such....not so much. Hence the questions. Again, thank you.

 

[Mcc]

After doing so I agree the MF is high.

It may be higher but if you were negotiating a loan and someone offers you an interest rate of 0.88% would you say that’s too high, I’m going to hold out for 0.26%? I think it’s better to concentrate on factors that make a bigger difference.

 

[JeremyTD]

It may be higher but if you were negotiating a loan and someone offers you an interest rate of 0.88% would you say that’s too high, I’m going to hold out for 0.26%? I think it’s better to concentrate on factors that make a bigger difference.

I’m glad you said that. More digging led me to a very similar number that you listed. That the .00037 is equivalent to a 0.9% interest rate.

That seems pretty damn good.

Using the Edmunds lease calculator it estimates the MF for excellent credit is .00183 vs the quote of .00037. Just those two differences alone result in a $91 per month difference in payment. That’s before more negotiation on the selling price.

I admit though. I’m a newb to the MF I was today old when I learned about the multiplying by 2400 calculation. ;-)

Anyway, that number no longer bothers me. I’ll keep working on the MSRP.

 

[NJB333]

I’m glad you said that. More digging led me to a very similar number that you listed. That the .00037 is equivalent to a 0.9% interest rate.

That seems pretty damn good.

Using the Edmunds lease calculator it estimates the MF for excellent credit is .00183 vs the quote of .00037. Just those two differences alone result in a $91 per month difference in payment. That’s before more negotiation on the selling price.

I admit though. I’m a newb to the MF I was today old when I learned about the multiplying by 2400 calculation. ;-)

Anyway, that number no longer bothers me. I’ll keep working on the MSRP.

Just so you know, the super low MF rate of 0.00004 (literally 0.1% APR) is set by the manufacturer, Genesis corporate in this case. You can insist that they use the lower corporate rate of 0.00004. If they don't play ball I'd recommend going to another dealer.

 

[Mcc]

If they don't play ball I'd recommend going to another dealer

Assuming you enjoy going from dealer to dealer. That advice is easy to say but remember that the object is not to win the battle but to win the war. Get the best bottom line pricing. If that means giving up a little interest in order to leverage getting a better price then walking out is not going to get you the victory you are looking for.

 

[JeremyTD]

Just so you know, the super low MF rate of 0.00004 (literally 0.1% APR) is set by the manufacturer, Genesis corporate in this case. You can insist that they use the lower corporate rate of 0.00004. If they don't play ball I'd recommend going to another dealer.

Not questioning your number but do you mind saying where that’s from? I can’t find it on the genesis website in the fine print and I’d love to use it as leverage.

 

[TurtleBoy]

Not questioning your number but do you mind saying where that’s from? I can’t find it on the genesis website in the fine print and I’d love to use it as leverage.

Genesis does not publish the money factors since their dealers are allowed to try and mark them up as well as they differ with credit scores. They best place to find the base MFs are on Edmunds.

2019 Genesis G70 Lease Deals and Prices - Page 30

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[JeremyTD]

Genesis does not publish the money factors since their dealers are allowed to try and mark them up as well as they differ with credit scores. They best place to find the base MFs are on Edmunds.

2019 Genesis G70 Lease Deals and Prices - Page 30

Many thanks!

 

[JeremyTD]

I went to Edmonds and was quoted this:
0.00004 and 48%
with $4250.00 lease cash
Edmonds calculator estimate is $544.00 per month

My original dealer quote was this:
.00037 and 49%
With $4250.00 lease cash
Edmonds calculator estimate is $564.00 per month


I’ll definitely use the Edmonds numbers to negotiate a deal. My thoughts are....it’s so close.

 

[TurtleBoy]

I went to Edmonds and was quoted this:
0.00004 and 48%
with $4250.00 lease cash
Edmonds calculator estimate is $544.00 per month

My original dealer quote was this:
.00037 and 49%
With $4250.00 lease cash
Edmonds calculator estimate is $564.00 per month


I’ll definitely use the Edmonds numbers to negotiate a deal. My thoughts are....it’s so close.

The 48% is for 12k miles and the 49% you were quoted was for 10k.

 

[NJB333]

I went to Edmonds and was quoted this:
0.00004 and 48%
with $4250.00 lease cash
Edmonds calculator estimate is $544.00 per month

My original dealer quote was this:
.00037 and 49%
With $4250.00 lease cash
Edmonds calculator estimate is $564.00 per month


I’ll definitely use the Edmonds numbers to negotiate a deal. My thoughts are....it’s so close.

You can also use the Lease Hackr calculator which is a little more customizable than the Edmunds one.

https://leasehackr.com/calculator

If you haven't already, you can browse their forums for other posts from people who have shared their deals/offers on G70s.

 

[Throat Yogurt]

I went to Edmonds and was quoted this:
0.00004 and 48%
with $4250.00 lease cash
Edmonds calculator estimate is $544.00 per month

My original dealer quote was this:
.00037 and 49%
With $4250.00 lease cash
Edmonds calculator estimate is $564.00 per month


I’ll definitely use the Edmonds numbers to negotiate a deal. My thoughts are....it’s so close.

Don't forget to factor in Circle A Plan pricing from r_spec. Saved me a ton of money and time, since (at my dealer at least) there was no negotiation needed.

 

[JeremyTD]

Don't forget to factor in Circle A Plan pricing from r_spec. Saved me a ton of money and time, since (at my dealer at least) there was no negotiation needed.

I’ll look into it. I thought that was for friends/family of Hyundai employees.

Off topic.... happy with the 6 speed manual?

 

[Throat Yogurt]

I’ll look into it. I thought that was for friends/family of Hyundai employees.

Off topic.... happy with the 6 speed manual?

Look back through the purchasing/leasing threads, there is a member here (r_spec) who is a Hyundai employee and is giving our Circle plan certificates to forum members. Also, the 6MT is great, lots of threads on that too.

 

[NJB333]

If you can get one, the Circle A discount will get you about 7-8% off MSRP immediately just by presenting it and it can be combined with the lease cash incentive. I believe some people have said that they've negotiated further discounts in addition to the Circle A price, but not every dealer will probably be willing to go any lower. Even if you don't negotiate anymore below the Circle A price, it should still be a good price.

 

[Throat Yogurt]

If you can get one, the Circle A discount will get you about 7-8% off MSRP immediately just by presenting it and it can be combined with the lease cash incentive. I believe some people have said that they've negotiated further discounts in addition to the Circle A price, but not every dealer will probably be willing to go any lower. Even if you don't negotiate anymore below the Circle A price, it should still be a good price.

 

[broervudu]

I’ll look into it. I thought that was for friends/family of Hyundai employees.

Look back through the purchasing/leasing threads, there is a member here (r_spec) who is a Hyundai employee and is giving our Circle plan certificates to forum members. Also, the 6MT is great, lots of threads on that too.

This thread has gotten massive hard to pick out the useful info. Goto to the top of page 26th. If r_spec is still helping with Circle A Certs.. he's easily helped dozens of people on this forum.




G70 Lease Comparisons and Discussion (USA)