G70 Lease Comparisons and Discussion (USA)

[danygenesis]

I believe his numbers are with the fees being paid up front. Zero down on a lease generally means that nothing is put towards cap cost reduction and doesn't mean that zero is due at signing. When I ran your numbers, I came up with 573 a month payment with $2,876 due at signing. That would be for the first payment, fees and upfront taxes.

Agree with you my friend but these numbers could change a little bit depending on the dealer fee, remember that it could be from $699 to $999, that's about $5.50 dollars a month difference. Our numbers are almost spot on. Lol.

 

[TurtleBoy]

Agree with you my friend but these numbers could change a little bit depending on the dealer fee, remember that it could be from $699 to $999, that's about $5.50 dollars a month difference. Our numbers are almost spot on. Lol.

Great minds think alike. . I didn't put the fees into the lease so they wouldn't effect the monthly payments. I just used $999 for the dealer fee and $100 for reg. This way any changes would only effect the amount due at signing and not payment amount.

leasehackr.com/calculator?make=Genesis&miles=12000&msd=0&msrp=49075&sales_price=49075&months=36&mf=.00009&dp=0&dealer_fee=999&acq_fee=765&taxed_inc=4500&untaxed_inc=0&rebate=0&resP=52&reg_fee=400&sales_tax=7&demo_mileage=0&memo=&acqFee_check=true&monthlyTax_radio=true

edit: redid the link since the residual was not showing.
edit2: Evidenlty a problem with their site, just enter 52 for residual if it is not showing.

 

[Flycaster]

I have been using a spreadsheet that I used when I leased my MB and it doesn't agree with the numbers generated by LH. I believe the problem is that I'm not using LH properly. So, I need a couple of questions answered.

Is the selling price the negotiated price that includes the discount and incentives?
In Florida, is the taxed incentives stuff like military, conquest, lease cash?
Is zero drive off when everything (dealer/acqusition fees) is rolled into the lease?

 

[TurtleBoy]

I have been using a spreadsheet that I used when I leased my MB and it doesn't agree with the numbers generated by LH. I believe the problem is that I'm not using LH properly. So, I need a couple of questions answered.

Is the selling price the negotiated price that includes the discount and incentives?
In Florida, is the taxed incentives stuff like military, conquest, lease cash?
Is zero drive off when everything (dealer/acqusition fees) is rolled into the lease?

1. I always use just the negotiated price for the selling price and then put the incentives down below. Mathematically it should work out the same way in regards to the monthly pricing. The difference would be the taxes.

2. I can't say for sure but would imagine they are taxed incentives.

3. Correct. On lease hacker you wlll see that when you check the box.

edit: In regards to #3, my correct means zero on drive-off. That includes taxes and everything.

 

[jrosen9]

Are you sure residuals are that high? I just got mine (granted I was looking for a low residual as my intent is to buy at the end). All the residuals I heard from every dealer were 46,48,50 for 15k,12k,10k respectively. T

I have been using a spreadsheet that I used when I leased my MB and it doesn't agree with the numbers generated by LH. I believe the problem is that I'm not using LH properly. So, I need a couple of questions answered.

Is the selling price the negotiated price that includes the discount and incentives?
In Florida, is the taxed incentives stuff like military, conquest, lease cash?
Is zero drive off when everything (dealer/acqusition fees) is rolled into the lease?

In Florida all fees and incentives are taxed. A vehicle trade in will be untaxed as it reduces the cost of the new vehicle per Florida Law

 

[TurtleBoy]

Are you sure residuals are that high? I just got mine (granted I was looking for a low residual as my intent is to buy at the end). All the residuals I heard from every dealer were 46,48,50 for 15k,12k,10k respectively. T

You must have gotten a 2.0, right? The 3.3ts have higher residuals.

 

[danygenesis]

Taking a rapid look at Edmunds.com for a 3.3T RWD 36/12k numbers are
MF: .00009
Residual: 51%
Lease cash: $3000

 

[Flycaster]

What am I not understanding about these G70 3.3T RWD Elite/Prestige offers (Genesis dealership West Palm Beach Genesis cars I mean at $449/mo with $2699 due at signing, where are they going to grab me for more???

 

[TurtleBoy]

What am I not understanding about these G70 3.3T RWD Elite/Prestige offers (Genesis dealership West Palm Beach Genesis cars I mean at $449/mo with $2699 due at signing, where are they going to grab me for more???

Without having all of the numbers you can't determine what type of deal it is. In general, any lease amount advertised is more expensive than what it would be by negotiating yourself. You should never look at a monthly payment and try to determine if the deal is decent or not. Always look at the individual pieces, selling price, MF, RV, discounts, fees, incentives, taxes, etc.

 

[Flycaster]

Take a look at my post #956 above. It has the necessary figures assuming $0 down and I'll pay acquisition and dealer fees up front. On my spreadsheet I came up with $464/mo, while others came up with figures up to $580/mo. Even if our math was a bit cockeyed, we still came up with a higher monthly than advertised. So, what can the dealer add in other than $ down (already stated,) and fees? I figure if this assumption is correct, then the up front $ would come to about $4000 ($2699 at signing + $1400 fees). They are open at 11am today and I'll call to see just what they are finagling.

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[TurtleBoy]

Take a look at my post #956 above. It has the necessary figures assuming $0 down and I'll pay acquisition and dealer fees up front. On my spreadsheet I came up with $464/mo, while others came up with figures up to $580/mo. Even if our math was a bit cockeyed, we still came up with a higher monthly than advertised. So, what can the dealer add in other than $ down (already stated,) and fees? I figure if this assumption is correct, then the up front $ would come to about $4000 ($2699 at signing + $1400 fees). They are open at 11am today and I'll call to see just what they are finagling.

Why are you putting that money down? Have you compared current interest rates to the MF? Are you getting the base MF or is it marked up. What is the negotiated selling price, you have not listed that? Do you see now where you have close to zero information as to what is needed to determine the deal. It appears you are just stuck on the monthly payment so then that must be an excellent deal. Good luck.

 

[danygenesis]

Take a look at my post #956 above. It has the necessary figures assuming $0 down and I'll pay acquisition and dealer fees up front. On my spreadsheet I came up with $464/mo, while others came up with figures up to $580/mo. Even if our math was a bit cockeyed, we still came up with a higher monthly than advertised. So, what can the dealer add in other than $ down (already stated,) and fees? I figure if this assumption is correct, then the up front $ would come to about $4000 ($2699 at signing + $1400 fees). They are open at 11am today and I'll call to see just what they are finagling.

If you have Android download this app.

Car Lease and Loan Calculator - Apps on Google Play

A fully featured car lease calculator and car loan calculator

play.google.com

 

[Flycaster]

If you have Android download this app.

Car Lease and Loan Calculator - Apps on Google Play

A fully featured car lease calculator and car loan calculator

play.google.com

Don't have Android, but thanks anyway.

 

[danygenesis]

Don't have Android, but thanks anyway.

Maybe the app is available in Apple store? Is a very good app for calculating lease and buying numbers. I have used for years. It makes finance guys and salespersons shake when you use it in front of them to corroborate their numbers.

 

[Flycaster]

Why are you putting that money down? Have you compared current interest rates to the MF? Are you getting the base MF or is it marked up. What is the negotiated selling price, you have not listed that? Do you see now where you have close to zero information as to what is needed to determine the deal. It appears you are just stuck on the monthly payment so then that must be an excellent deal. Good luck.

I do understand why you're against putting money down as it would be a complete loss if car totaled. But, don't understand Ave bank interest rate in FL is 3.88%, while the MF is 2.2% (0.0009 and not a mark up according to Edmunds). Could you clarify the suggested comparison between MF to current interest rates?

I just spoke with the dealer to try and get some of the figures. Salesman didn't have, or couldn't, or wouldn't give me them, but let me say the following.

The $449 was without tax, but is with all available incentives and fees. With the $2699 DP, it's OTD. Tax at 7% would add another $32/mo. And the $2699 would add another $75/mo...although not rolled into the monthly, for argument sake, I'm adding the tax and DP into a "real" monthly = $556. Now here's the kicker: When I told the salesperson that because my wife ws having an operation and won't be able to drive for about another 2 months, she'd go crazy knowing we'd have two cars and only need one for that time, but will be paying for the "useless" new car. The salesman immediately said he'd see what he could do about absorbing the first month's payment....an immediate reduction of an overall leasing cost by $449 to $481, depending if lease tax is included. So, in any event, it seems like I do have some wiggle room to get overall leasing cost down. Perhaps, I could get some guidance as to where I should be aiming my sights?

BTW, I have heard that a monthly of 1% of MSRP was a good target...but I don't know if that's out the door? The present real world deal ,as it stands with tax and DP rolled in is at 1.11% ($556)....without rolling in the DP, and just the tax added, it's 0.98% Figuring in the free first month, takes another $12.50.mo off. Yeah, maybe I am looking at the monthly lease cost, but I can assure you that I want to get the best cost. I'll try to get the discount, MF, Resid and fees before consummating a deal.

 

[TurtleBoy]

^ I'm not against putting down money for a down payment due to the car being totaled, that doesn't come into play. It i. s no different than putting money down when purchasing. What I was referring to was putting money down when the MF is so low. You have to run the numbers but more than likely you will be receiving more interest in a decent interest bearing account than if you use the money as a down payment.

You should aline your sights first at ignoring the monthly payment. As you have shown in your description above, it is basically meaningless and can be manipulated in many different ways.

I will end my participation in this discussion with some advice and you can take it or leave it. Here is what I think you should do:

1. Do some research on leasing and be come adept at using a lease calculator so you can figure out the lease payments and up front costs on a lease. Taking the specific numbers from the dealer you should be able to match the payment amounts you are being given.

2. Visit a dealer or two and find a car that you like. Do not do this base on monthly payment but rather the color/trim.etc you like.

3. Negotiate the lowest selling price you can. Do not even mention whether you are going to lease or purchase. If they ask, tell them you are not sure. Maybe you missed it but you can also get Circle A pricing form a member here so do some reading on this thread and the price thread.

4. Once the price has been determined, get the specific information on leasing. This would include residual, money factor and lease cash.

5. Get the amount of any other incentives you may qualify for such as loyalty, conquest, military etc.

6. Have dealer list all the fees and exact amount of those fees.

7. Have the dealer provide the monthly payment they calculate as well as the upfront costs.

8. Go home and run all of the numbers through the lease calculator and make sure you can come up with the exact same ones they are.

9. Decide if you want the car, can afford the car and should get the car.

10. Good luck and enjoy.

 

[JayceM]

I do understand why you're against putting money down as it would be a complete loss if car totaled. But, don't understand Ave bank interest rate in FL is 3.88%, while the MF is 2.2% (0.0009 and not a mark up according to Edmunds). Could you clarify the suggested comparison between MF to current interest rates?

I just spoke with the dealer to try and get some of the figures. Salesman didn't have, or couldn't, or wouldn't give me them, but let me say the following.

The $449 was without tax, but is with all available incentives and fees. With the $2699 DP, it's OTD. Tax at 7% would add another $32/mo. And the $2699 would add another $75/mo...although not rolled into the monthly, for argument sake, I'm adding the tax and DP into a "real" monthly = $556. Now here's the kicker: When I told the salesperson that because my wife ws having an operation and won't be able to drive for about another 2 months, she'd go crazy knowing we'd have two cars and only need one for that time, but will be paying for the "useless" new car. The salesman immediately said he'd see what he could do about absorbing the first month's payment....an immediate reduction of an overall leasing cost by $449 to $481, depending if lease tax is included. So, in any event, it seems like I do have some wiggle room to get overall leasing cost down. Perhaps, I could get some guidance as to where I should be aiming my sights?

BTW, I have heard that a monthly of 1% of MSRP was a good target...but I don't know if that's out the door? The present real world deal ,as it stands with tax and DP rolled in is at 1.11% ($556)....without rolling in the DP, and just the tax added, it's 0.98% Figuring in the free first month, takes another $12.50.mo off. Yeah, maybe I am looking at the monthly lease cost, but I can assure you that I want to get the best cost. I'll try to get the discount, MF, Resid and fees before consummating a deal.

Your money factor is wrong. It's 0.00009 which is 0.22% APR which is very low so it doesn't make much sense to put money down especially when other interest rates are a lot higher. Definitely do some research into leases. I would follow Turtleboy's advice.

 

[Flycaster]

^ I'm not against putting down money for a down payment due to the car being totaled, that doesn't come into play. It i. s no different than putting money down when purchasing. What I was referring to was putting money down when the MF is so low. You have to run the numbers but more than likely you will be receiving more interest in a decent interest bearing account than if you use the money as a down payment.

You should aline your sights first at ignoring the monthly payment. As you have shown in your description above, it is basically meaningless and can be manipulated in many different ways.

I will end my participation in this discussion with some advice and you can take it or leave it. Here is what I think you should do:

1. Do some research on leasing and be come adept at using a lease calculator so you can figure out the lease payments and up front costs on a lease. Taking the specific numbers from the dealer you should be able to match the payment amounts you are being given.
I do have a good SS that will allow me to put in every figure needed to check on just where the charges/fees/taxes come from. It's that I just may not be using it correctly.

2. Visit a dealer or two and find a car that you like. Do not do this base on monthly payment but rather the color/trim.etc you like.
Agreed

3. Negotiate the lowest selling price you can. As I understand this, this means that I get the biggest discount off MSPR, full incentives, correct MF/resid, don't take addons I don't want, negotiate fees that can be negotiated, etc. Do not even mention whether you are going to lease or purchase. If they ask, tell them you are not sure. Maybe you missed it but you can also get Circle A pricing form a member here so do some reading on this thread and the price thread.

4. Once the price has been determined, get the specific information on leasing. This would include residual, money factor and lease cash.

5. Get the amount of any other incentives you may qualify for such as loyalty, conquest, military etc.

6. Have dealer list all the fees and exact amount of those fees.

7. Have the dealer provide the monthly payment they calculate as well as the upfront costs.

8. Go home and run all of the numbers through the lease calculator and make sure you can come up with the exact same ones they are.
That's why I have a SS...just have to use it properly

9. Decide if you want the car, can afford the car and should get the car.

10. Good luck and enjoy.

Thanks much for all your helpful advice.

 

[Flycaster]

Your money factor is wrong. It's 0.00009 which is 0.22% APR which is very low so it doesn't make much sense to put money down especially when other interest rates are a lot higher. Definitely do some research into leases. I would follow Turtleboy's advice.

I now see my error. Didn't realize that after multiplying the MF by 2400 that the resultant figure was already a percent. WOW, 0.22% is awfully low.

 

[JeremyTD]

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.