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G70 Lease Comparisons and Discussion (USA)

Tkpoint22

Registered Member
41
15
8
Genesis Model Type
No Genesis Yet!
One thought is that they're being dishonest, but another thought is them choosing a different way to make money. Yeah, a little tricky, but not really dishonest to me.

I recently had a deal on the table and they also jacked up the MF saying they do that to make money. I had already negotiated a $1K dealer discount beyond Circle A and that was enough for me to move forward with lease talk. I would have had to fly out of state and go through the pain of registering an out of state vehicle in CA (not fun) and deal with the risks of the car not being what was described. I told the dealer that the increased MF basically negated the $1K discount and we were back to standard Circle A pricing. They refused to reduce the MF and for that and other reasons, I walked away. It was just enough to make me flip back to waiting for a 2020.

The thing I didn't understand was that if I paid cash for the car or got my own loan, they would not have been able to profit from the MF. Is it that much extra work to process a lease vs a purchase? Enough work that they need to jack up the MF by $1K to make up for it? I don't know... apparently the answer was yes for this dealer.

We are late enough in the model year that I'll need a GREAT deal to get a 2019. True there are not a lot of changes for 2020, but the negatives of these cars sitting on lots for nearly a year or more and some being test driven 100 miles or more (maybe hard miles) just doesn't sit well with me. It's not so bad that I can't be bought, but I need a SWEET deal to accept that!

If it weren't for r_spec and Circle A, I'd have a completely different outlook on getting a 2019 because you can basically negotiate Circle A at this time without even having Circle A. But having Circle A and getting a 2020 at that price, it's much easier to wait and skip the negotiating. Waiting also gets me a 4-button console and a power trunk! :D
Thinking the exact same thing. Seemingly lots of 2019s on lots that they’re asking top dollar for still.
 

JayceM

Registered Member
330
171
43
Genesis Model Type
No Genesis Yet!
So I'm being told that if using Circle A pricing, the base MF is 0.00037 instead of the base 0.00009. Anyone know if this is true or n't without speni f a few hours reading this whole thread?
Not true. Dealership tried to do that to me when I bought my car in July. However, they were honest, they were like, well we're just trying to make some money since you've got the Circle A pricing and we're not charging you for any of the extras (like tint, scotch guard coating, and all weather mats) which added up to a little over 1k. I could understand that, and I wanted the car so I said that's fine. However, my final quote they had added back the cost of the extras. Told em I wasn't cool with paying for the markup and the extras. They removed the MF markup at that point. I then finalized the deal and went to pickup the car.
 

Terdbath

Registered Member
22
14
3
My local Hyundai dealer finally got a 3.3 AWD Sport in for me to test drive. Plenty of power, not a whole lot of road noise, very stable, and rich in tech. Love the surround camera and heads up display in particular. I let them know I wanted to lease because of the incentives. Their initial offer was $2000 off MSRP. I wasn't too upset with that initial offer and knew I had the info to negotiate a better price. I knew I wasn't buying that day so let them know Id be interested in either Santiago Silver or Siberian Ice with either stitching if they could find it. I drove the Himalayan Grey and while nice I would prefer to have a bit more contrast in the body color and the black 5 spoke wheels. They said they were willing to accept circle A so I'm optimistic a deal can be made. I will lose a couple grand trading in my current lease 9 months early but if I can get the Circle A, lease cash, and conquest I might just eat the couple grand!
 

Tonester

SUSTAINING MEMBER
250
203
43
San Francisco, CA - Bay Area
Genesis Model Type
No Genesis Yet!
Looks like lease cash for October is now published on Autobytel site. Below is for 3.3T Advanced RWD:
2019 Genesis G70 Incentives and Rebates | Autobytel.com

1569966560269.png

So now the questions is, what's the MF for each of these terms? Last month, 36 and 48 were the same as above for this trim, but the 48 had a fairly high MF to offset the higher lease cash. It'll be interesting to see what the MF is for the 24 month entry above! Or maybe there's another catch? Hmm
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TurtleBoy

SUPPORTING MEMBER
2,240
1,657
113
Colorado
Genesis Model Type
No Genesis Yet!

Tkpoint22

Registered Member
41
15
8
Genesis Model Type
No Genesis Yet!
What’s the 24mo lease cash about? It’s huge. That new? If you were gonna buy it out anyway, why not go for the 24mo to get the most off the price paid??
 

Tonester

SUSTAINING MEMBER
250
203
43
San Francisco, CA - Bay Area
Genesis Model Type
No Genesis Yet!
What’s the 24mo lease cash about? It’s huge. That new? If you were gonna buy it out anyway, why not go for the 24mo to get the most off the price paid??
Bingo!! When I did the math on this last month, it was not worth getting the $4250 ($500 extra rebate) lease and paying out another ~$1000 in MF payments. But this month, you get $2000 of extra rebate if you take the 2 year lease! The only reason I can see Genesis offering this is to have you lease another car in 2 years. But for the cash buyer paying the lease off early, this effectively converts the subsidized low ~0.00007 MF rate into actual cash up front and then some! i.e. you either get a low MF lease (36 month) with less lease cash or a more expensive lease (higher MF) with more lease cash (24 month). And if you payoff early, the MF really doesn't even matter assuming there's no new penalty for early payoff.
______________________________
 

Tkpoint22

Registered Member
41
15
8
Genesis Model Type
No Genesis Yet!
Bingo!! When I did the math on this last month, it was not worth getting the $4250 ($500 extra rebate) lease and paying out another ~$1000 in MF payments. But this month, you get $2000 of extra rebate if you take the 2 year lease! The only reason I can see Genesis offering this is to have you lease another car in 2 years. But for the cash buyer paying the lease off early, this effectively converts the subsidized low ~0.00007 MF rate into actual cash up front and then some! i.e. you either get a low MF lease (36 month) with less lease cash or a more expensive lease (higher MF) with more lease cash (24 month). And if you payoff early, the MF really doesn't even matter assuming there's no new penalty for early payoff.
Any idea what the residuals and MF are on the Oct leases for 15/24 and 15/36?
 

wesquire

Registered Member
32
14
8
San Francisco, California
Genesis Model Type
No Genesis Yet!
Looks like lease cash for October is now published on Autobytel site. Below is for 3.3T Advanced RWD:
2019 Genesis G70 Incentives and Rebates | Autobytel.com

View attachment 23734

So now the questions is, what's the MF for each of these terms? Last month, 36 and 48 were the same as above for this trim, but the 48 had a fairly high MF to offset the higher lease cash. It'll be interesting to see what the MF is for the 24 month entry above! Or maybe there's another catch? Hmm
Why is the finance rate listed as both 1.9% and 4.69%?
______________________________
 

danygenesis

Genesis owner
1,523
1,101
113
Miami, FL
Genesis Model Type
Genesis G70
Looks like Autobytel has retracted the 24 month leases that were shown yesterday. Too bad, it was stirring up my interest in getting a 2019.
I made a request at Edmunds.com, there is no 24 months lease from Genesis. I really found weird they offered a 24 months lease because Hyundai have never done it before.
For a 3.3T RWD 36/12k the numbers are,
MF .00003
Residual 49%
Lease cash $3750
I'm sure the 2020 MY won't get that kind of deal in many months.
 

Tonester

SUSTAINING MEMBER
250
203
43
San Francisco, CA - Bay Area
Genesis Model Type
No Genesis Yet!
It's too bad there appears to be no change in the incentives for October as most months have seen a bump. Sure would be interesting to know what happened on Autobytel with the 2 year leases and high lease cash! Maybe the data entry person accidentally entered November's numbers with the October update. Time will tell, but it seems unlikely they'd have those numbers early.
 

Terdbath

Registered Member
22
14
3
I got a similar deal as others have on 2019 Sport AWD. Would have never got this deal without the help of the great forum members here. Thank you all!

Circle A. An extra special thank you @R-spec!
$4000 lease cash
$1000 conquest

Paid $2000 for the loss on my Acura and 1st month at $566. Initially I didn't want the Himalayan Grey but it grew on me and absolutely no regrets after a week of driving it around.

102.jpg
 
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