G70 Lease Comparisons and Discussion (USA)

[SecretSandwich]

Hey Guys, so I got a quote from one dealer. I asked for 4 different trims and here is the summary.
Any thoughts? Savings include conquest offer and lease cash. Seems like fair deal to me.

36 months / 15K miles	2.0T Elite	3.3T Advanced	3.3T Elite	3.3T Sport
Money Factor	0.00042	0.00049	0.00049	0.00049
Residual Value	47%	49%	49%	49%
MSRP	43165	46860	48690	52645
Savings	6706	6150	6254	6467
Accessories
Trade Allowance
Subtotal	36459	40710	42436	46178
Sales Tax	1629.42	1897.12	1964.33	2110.42
Doc & MV fees	1554.95	1554.95	1554.95	1554.95
Trade Payoff
Cash Down	0	0	0	0
Grand Total	40222.53	44801.95	46622.16	50568.93
Monthly Total with 0 down	579.16	639.88	666.88	725.56
Monthly Total with upfront	$3103.40 486.09	$3451.00 535.97	$3519.18 560.91	$3666.37 615.20

Btw I asked about higher trim costs just for comparison sake, The dealer I purchased from offered me a deal at 3k down 414/mo (that is with CA tax 7.75%) for a 2.0T Elite. And another dealer actually offered me one for 3k down 365/mo + tax (this was after I said i was going with another dealer so might not have been honest) These are with all the rebates etc I had in my deal.

Also dont settle for anything besides base money factor (talking with the internet sales manager might get you there faster) and get a circle A if you can.

 

[Ruach]

Btw I asked about higher trim costs just for comparison sake, The dealer I purchased from offered me a deal at 3k down 414/mo (that is with CA tax 7.75%) for a 2.0T Elite. And another dealer actually offered me one for 3k down 365/mo + tax (this was after I said i was going with another dealer so might not have been honest) These are with all the rebates etc I had in my deal.

Also dont settle for anything besides base money factor (talking with the internet sales manager might get you there faster) and get a circle A if you can.

Thanks for the info!
I actually asked them for base mf and they said they will give me 45 less dollars per month if I get the car deal this week.
I will ask them to give me re-calculation with base mf first before anything else.
I've been reading some forums and noticed that r_spec helps people with Circle Pricing, right?
Though, I'm pretty sure they will re-do the calculation all over again with the Circle Pricing lol

 

[TurtleBoy]

Thanks for the info!
I actually asked them for base mf and they said they will give me 45 less dollars per month if I get the car deal this week.
I will ask them to give me re-calculation with base mf first before anything else.
I've been reading some forums and noticed that r_spec helps people with Circle Pricing, right?
Though, I'm pretty sure they will re-do the calculation all over again with the Circle Pricing lol

Yes, r_spec has been very generous and is furnishing Circle pricing certificates for those that PM him. If you want to get the price on the one that you are looking at, let me know the dealer and which car and I should be able to get it.

 

[grapefruit]

Hi everybody, new to the forum but just leased a G70 2.0 AWD Elite this weekend.
How did I do? Thought my deal was good.

$5k down $299/month, 36 months, 10k miles/year. not including TTL or other fees

 

[TurtleBoy]

Welcome and congratulations! Good luck, enjoy and be safe.

 

[littlebuddha]

Hi everybody, new to the forum but just leased a G70 2.0 AWD Elite this weekend.
How did I do? Thought my deal was good.

$5k down $299/month, 36 months, 10k miles/year. not including TTL or other fees

That's an amazing deal! What state are you in and how much is your monthly total payment with everything included? Did you have some rebates ie competitive included? Mine was 513 per month for just the AWD 2.0 base with 0 down/ 0 driveoff - includes 10.25% tax and fees etc. Had 3500 in rebates. Starting to regret my hasty signing but enjoying the car nevertheless.

 

[SecretSandwich]

Hi everybody, new to the forum but just leased a G70 2.0 AWD Elite this weekend.
How did I do? Thought my deal was good.

$5k down $299/month, 36 months, 10k miles/year. not including TTL or other fees

That is a good deal for a g70. Congrats!

 

[Throat Yogurt]

I wonder why everyone is putting all this money down on a lease. If you happen to total the car, that money is gone. If it is to lower the payments, why not just keep it in your account (gaining interest) and pay out a little every month on top of the payment?

 

[DefinitelyMaybe]

Hi everybody, new to the forum but just leased a G70 2.0 AWD Elite this weekend.
How did I do? Thought my deal was good.

$5k down $299/month, 36 months, 10k miles/year. not including TTL or other fees

What state are you in?

 

[danygenesis]

I wonder why everyone is putting all this money down on a lease. If you happen to total the car, that money is gone. If it is to lower the payments, why not just keep it in your account (gaining interest) and pay out a little every month on top of the payment?

Agree 100% with you. Lease = No money down, Zero, Nada. Just pay the paperwork and fees, that's it.

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[Beefer]

Agree 100% with you. Lease = No money down, Zero, Nada. Just pay the paperwork and fees, that's it.

Why? I agree putting too much down is a mistake...but putting money down makes absolute sense for some.

Example...putting down taxes and all fees (which you mention) absolutely makes sense. Taxes are paid no matter what...that money is gone. Might as well pay up front to help lower the payment.

Some people...like myself...like a nice round payment, etc. So I put a bit extra down to round off my payment to an exact $615 monthly.

Also...some manufacturers allow for MSD's. The extra security deposits are returned to you at the end of the lease. So reduces your monthly payment...but you get money back. You are essentially loaning money to the lender and you are making money off them. If you total your car though...any MSD's are lost...so risky. Genesis does not do MSD's.

 

[danygenesis]

Why? I agree putting too much down is a mistake...but putting money down makes absolute sense for some.

Example...putting down taxes and all fees (which you mention) absolutely makes sense. Taxes are paid no matter what...that money is gone. Might as well pay up front to help lower the payment.

Some people...like myself...like a nice round payment, etc. So I put a bit extra down to round off my payment to an exact $615 monthly.

Also...some manufacturers allow for MSD's. The extra security deposits are returned to you at the end of the lease. So reduces your monthly payment...but you get money back. You are essentially loaning money to the lender and you are making money off them. If you total your car though...any MSD's are lost...so risky. Genesis does not do MSD's.

Because if the car get totalled you will lose everything you paid but the fees, nothing goes back to you.
Example. Two drivers have the same budget $20,000 for a lease that has $1000 in fees.
Driver one put $5000 ($4000 down and $1000 in fees) getting $350 monthly payment.
Driver two put just $1000 in fees getting $500 monthly payment.
Both drivers crash one month later and both cars get totalled. Insurance will pay to the bank (lease company) and the lease company will absorb all ll the losses. Nothing goes back to the drivers. Now Driver one only has $14, 650 and Driver two has $18,500 for leasing a new car that has $1000 fees again

 

[TurtleBoy]

There is nothing wrong with paying the fees up front as well as taxes in the states that charge them on the full amount. There is no difference in risk between leasing and financing as far as putting down extra, you can lose that money in both instances. Same as paying cash for it, you are always at risk of losing that money should your vehicle be totaled.

It really is just a matter of personal preference, I'm leasing now but the past 20 years or so I bought all my cars without financing. There was some risk but I liked not having a monthly payment and the difference in APR and rate of return was not great enough to be a concern. On this lease I only paid the fees upfront.

 

[grapefruit]

That's an amazing deal! What state are you in and how much is your monthly total payment with everything included? Did you have some rebates ie competitive included? Mine was 513 per month for just the AWD 2.0 base with 0 down/ 0 driveoff - includes 10.25% tax and fees etc. Had 3500 in rebates. Starting to regret my hasty signing but enjoying the car nevertheless.

I'm in NJ. I didn't qualify for any rebates (competitive, conquest, etc.). Dealer discount $1.2k and lease rebate $5k. Monthly payment including all fees are $521
.

 

[TurtleBoy]

^ Congratulations. Good luck, enjoy and be safe.

Edit: For the second time.

 

[DefinitelyMaybe]

I'm in NJ. I didn't qualify for any rebates (competitive, conquest, etc.). Dealer discount $1.2k and lease rebate $5k. Monthly payment including all fees are $521
View attachment 19843.

Is the $5k lease rebate a manufacturer rebate?!

 

[Throat Yogurt]

It really is just a matter of personal preference, I'm leasing now but the past 20 years or so I bought all my cars without financing. There was some risk but I liked not having a monthly payment and the difference in APR and rate of return was not great enough to be a concern. On this lease I only paid the fees upfront.

Sure, it's a matter of personal preference, with the preference of putting money down (above fees) on a lease being the objectively worse decision financially. I mean, keeping your life savings under your mattress is a personal preference as well, but it's not all that smart.

 

[SecretSandwich]

In regards to putting money down on the g70 specifically you needed to put down ~$2750 to qualify for the bonus leash cash of ($2500-$5000(?)) Would be silly to give that up.

 

[danygenesis]

In regards to putting money down on the g70 specifically you needed to put down ~$2750 to qualify for the bonus leash cash of ($2500-$5000(?)) Would be silly to give that up.

That's incorrect. You have to put nothing in order to get the bonus lease cash.

 

[TurtleBoy]

Sure, it's a matter of personal preference, with the preference of putting money down (above fees) on a lease being the objectively worse decision financially. I mean, keeping your life savings under your mattress is a personal preference as well, but it's not all that smart.

No, it is definitely not an objectively worse decision. In the overwhelming majority of cases it is just fine and in fact has its advantages such as saving on interest/rent charges. The only time there may be a downside is if the vehicle is totaled early in the lease. It is all a matter of the level of risk one wants to take. Just like some folks only put their money in CDs while other are 100% growth stocks. Potential earnings would be based in the risk of each.

Not all financial decisions can be made by formula. There is such a thing as psychological return which cannot be measured. That is why paying off a mortgage early may make sense even if higher returns can be had by investing that money instead.