Getting Ready to Lease a Genesis 3.8 V6

[bpajax]

Well, I've been looking for a while now. My Infiniti M35 lease is coming to an end. Prior to that I was in a BMW 330i and then Maxima's forever before the 330i.

This time around, I've looked at the BMW 528i, the new Maxima (very nice), the Lexus ES350, the Acura TL and the Cadillac CTS - none of which really got me excited.

I drove a platinum V8 Genesis with tech on Tuesday and loved it. It has everything I was looking for - size, looks, technology and performance. Now I just need to decide on a color combination. I have my deal negotiated with the dealer. I decided to step down to the V6 with tech to save a little money and will do a sign an drive 27 month lease for just under $600 before sales taxes.

Well, I gotta go. Time to head to the dealer and see the new ones that they just got in off the truck. I want to see a saddle interior.

 

[muisui]

Well, I've been looking for a while now. My Infiniti M35 lease is coming to an end. Prior to that I was in a BMW 330i and then Maxima's forever before the 330i.

This time around, I've looked at the BMW 528i, the new Maxima (very nice), the Lexus ES350, the Acura TL and the Cadillac CTS - none of which really got me excited.

I drove a platinum V8 Genesis with tech on Tuesday and loved it. It has everything I was looking for - size, looks, technology and performance. Now I just need to decide on a color combination. I have my deal negotiated with the dealer. I decided to step down to the V6 with tech to save a little money and will do a sign an drive 27 month lease for just under $600 before sales taxes.

Well, I gotta go. Time to head to the dealer and see the new ones that they just got in off the truck. I want to see a saddle interior.

Please keep me posted on how your lease deal structure? And good luck.

 

[drew0020]

Well, I've been looking for a while now. My Infiniti M35 lease is coming to an end. Prior to that I was in a BMW 330i and then Maxima's forever before the 330i.

This time around, I've looked at the BMW 528i, the new Maxima (very nice), the Lexus ES350, the Acura TL and the Cadillac CTS - none of which really got me excited.

I drove a platinum V8 Genesis with tech on Tuesday and loved it. It has everything I was looking for - size, looks, technology and performance. Now I just need to decide on a color combination. I have my deal negotiated with the dealer. I decided to step down to the V6 with tech to save a little money and will do a sign an drive 27 month lease for just under $600 before sales taxes.

Well, I gotta go. Time to head to the dealer and see the new ones that they just got in off the truck. I want to see a saddle interior.

I would test drive a 335i/535i because the 328i/528i are underpowered. Also $600 per month without taxes seems very high for the v6. If you decide on the Genesis good luck. I am coming from a 330i and am looking at a Genesis because the BMW lease rates have taken a major hit in 2009.

 

[bpajax]

I would test drive a 335i/535i because the 328i/528i are underpowered. Also $600 per month without taxes seems very high for the v6. If you decide on the Genesis good luck. I am coming from a 330i and am looking at a Genesis because the BMW lease rates have taken a major hit in 2009.

The power on the Genesis V6 is fine for me. I had a 330i (too small) and the 535i is too expensive for me for what I want - don't need or want that sort of performance.

As for the lease price, the reason it may sound a little high is that I've rolled the acquisition fee, first month payment, etc. into the lease. It's basically "sign and drive" - no cash at signing. The only profit is the dealer delivery fee of $350 - they agreed to an "invoice" deal. A similar lease on a 528i would be closer to $700 and the 535i even higher.

 

[sandy]

Hi bpajax, In addition to the $350 delivery fee, your dealer will also receive approx $1200 from Hyundai in the form of a "hold-back" payment.

 

[bpajax]

There is also $1,000 of lease money on the V6 and $1,250 on the V8.

 

[drew0020]

Hi bpajax, In addition to the $350 delivery fee, your dealer will also receive approx $1200 from Hyundai in the form of a "hold-back" payment.

How do you know this?? I still think invoice is a good deal though.

 

[sandy]

How do you know this?? I still think invoice is a good deal though.

The "holdback" payment to the dealer is the way the industry works. My lease deal back in November for a V6 Premium was based on a selling price about $800 below invoice. When I asked the dealer how it was possible for him to sell below invoice and stay in business, he showed the hold-back amount to me which at the bottom of the invoice. It was about $1100.

 

[markachurch]

Your lease is high! I got the 27 month with 3K down for $498 per month plus tax on a V6 with prem+ and tech pkg. Had to play a few dealers, but got the price I wanted.

 

[bpajax]

My deal is $0 down vs your $3,000 ($3,000 /27 months = $111 per month added to your $498 = $609/month). So actually the deals look pretty close (mine is around $580 plus sales tax).

muisui however seems to be getting a really great deal

http://genesisowners.com/hyundai-genesis-forum/showthread.php?t=1416

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[drew0020]

My deal is $0 down vs your $3,000 ($3,000 /27 months = $111 per month added to your $498 = $609/month). So actually the deals look pretty close (mine is around $580 plus sales tax).

muisui however seems to be getting a really great deal

http://genesisowners.com/hyundai-genesis-forum/showthread.php?t=1416

The best way to determine a good deal is just telling us what the negotiated sales price is. Monthly payments is not an indicator...

 

[bpajax]

Actually to me the payment is a pretty good indicator. It's the true measure of cost on a lease (along with cash money down). In any case, my deal is "at invoice" less the $1,000 lease bonus money.

 

[LasVegasGenesis]

4.6 with Tech Package, full tint, trunk liner and Ipod connector
Leased January 1, 2009
$2100 cap reduction
$589 / month + tax
27 months

My last two cars were a 36 month lease but I'm pleased with the 27 months because hopfully the updated Genesis with the 5.0 Liter and new body we saw leaked on the internet will be available at the end of my lease. I am a dedicated convert from Lexus!

 

[drew0020]

Actually to me the payment is a pretty good indicator. It's the true measure of cost on a lease (along with cash money down). In any case, my deal is "at invoice" less the $1,000 lease bonus money.

The reason you never base a car buying decision on monthy payment is because the dealer can say they are selling the car at invoice and then include hidden fees (or cap cost reductions) which you might not notice because you like the low monthly payment number. I paid $36.5K for the V8 with tech.

PS: If you lease the general rule is that you never put cap cost down because if the car is totaled you lose this money.

 

[bpajax]

Gap insurance is included in the Hyundai lease so you don't need to worry about the "totaling" issue. Also, with the interest rate inherent in the money factor being nearly 0%, I'm going to let them finance all I can in my lease payment and keep the cash.

Anyway, looks like you got a great deal and I'm happy with mine too. Can't wait to get my 3.8 with Tech!

 

[drew0020]

Gap insurance is included in the Hyundai lease so you don't need to worry about the "totaling" issue. Also, with the interest rate inherent in the money factor being nearly 0%, I'm going to let them finance all I can in my lease payment and keep the cash.

Anyway, looks like you got a great deal and I'm happy with mine too. Can't wait to get my 3.8 with Tech!

I completely agree with $0 down or at a minimum paying first month but absolutely zero cost reduction especially at an almost 0% interest rate.

 

[sandy]

The way I compare lease deals is to compute the total cost. Monthly payment x # months plus money up-front.

 

[LasVegasGenesis]

cap reduction is just a way to lower the cap cost and therefore reduce your payment. Between the $2100 I put down and the discount the dealer took, the final cap cost of my 4.6 with the tech pkg was $38.5. As a result, my payment for loaded 4.6 is similar to a what I'm seeing people are paying on herefor a 3.8 with premuim.

I bought my MB convertible but I turn my sedans quickly. The easy return of a leased vehicle works for me. Definitely not for everyone though.

 

[muisui]

cap reduction is just a way to lower the cap cost and therefore reduce your payment. Between the $2100 I put down and the discount the dealer took, the final cap cost of my 4.6 with the tech pkg was $38.5. As a result, my payment for loaded 4.6 is similar to a what I'm seeing people are paying on herefor a 3.8 with premuim.

I bought my MB convertible but I turn my sedans quickly. The easy return of a leased vehicle works for me. Definitely not for everyone though.

Can you please share your lease detail?

 

[LasVegasGenesis]

please note my earlier posting. it lists all of the details