GV60 Canadian Deposit - Local Dealer Information & Timelines

[Minbari]

That makes no sense to me. My go-tos for used car values are vmrcanada.com and canadianblackbook.com. They’ll get you in the ballpark.
I’ve never traded in a car. I’ll get a value from the dealership when I order, and end up selling for a fair bit more privately before I take possession of the new car. There have been substantial differences between trade-in and market values for the vehicles I’ve sold.

Has anyone gotten a quote on their trade in yet ? Just wondering what i have to work with but i cant get a quote from my dealer as they say they need a vin for the Gv60 , not sure i understand that since couldnt they just use a vin from a different car if needed ? I just wish i could have gotten this info before slapping down 1000 bucks for a reservation

I got a trade in quote many weeks ago from Genesis for my car, and they didn't need a GV60 VIN to do any of it. It was a shockingly transparent process, they went as far as showing me the screenshots of the rough quotes from vauto.com in Canada, explaining what they do to the car after taking it in on trade and their costs to do so, and also the profit margin they expect to make on trade in vehicles also. I was satisfied with the number they came back with, roughly $5000 less than the average one for sale online and between $3000-6000 less than I might be able to sell for private party (but need to factor in the tax rebate on the trade) and this was on a ~$30,000 trade in also.

Worst case you get a trade in quote, decide it isn't high enough for your liking, and you go a different path. I would try pushing your dealer or asking a different dealer to give you a rough trade quote (they won't hold to it exactly without an in person inspection, but regardless).

 

[Buckdes]

I

I got a trade in quote many weeks ago from Genesis for my car, and they didn't need a GV60 VIN to do any of it. It was a shockingly transparent process, they went as far as showing me the screenshots of the rough quotes from vauto.com in Canada, explaining what they do to the car after taking it in on trade and their costs to do so, and also the profit margin they expect to make on trade in vehicles also. I was satisfied with the number they came back with, roughly $5000 less than the average one for sale online and between $3000-6000 less than I might be able to sell for private party (but need to factor in the tax rebate on the trade) and this was on a ~$30,000 trade in also.

Worst case you get a trade in quote, decide it isn't high enough for your liking, and you go a different path. I would try pushing your dealer or asking a different dealer to give you a rough trade quote (they won't hold to it exactly without an in person inspection, but regardless).

I appreciate all this info friend , my issue is the salesperson i am working with is the district manager and they get all of thesales inquiries in my area , i guess i could reach out to a different dealership completely but i hate to waste someones time , for reference i am looking to trade in a 2019 G70 3.3 sport with 13000kms

 

[Minbari]

I

I appreciate all this info friend , my issue is the salesperson i am working with is the district manager and they get all of thesales inquiries in my area , i guess i could reach out to a different dealership completely but i hate to waste someones time , for reference i am looking to trade in a 2019 G70 3.3 sport with 13000kms

Wow sounds like you have a very similar car to my friend. His trade in quote from Genesis for a 2019 G70 3.3 sport with 70000kms was around $38k if I recall. Realistically private party it would fetch closer to $44-46k ish. I would expect your trade quote assuming its a clean car and title to be in the 35-40 range regardless of dealer unless somebody was lowballing you. Even a below average trade quote would get you in the ballpark of 33 absolute minimum.

 

[Buckdes]

Wow sounds like you have a very similar car to my friend. His trade in quote from Genesis for a 2019 G70 3.3 sport with 70000kms was around $38k if I recall. Realistically private party it would fetch closer to $44-46k ish. I would expect your trade quote assuming its a clean car and title to be in the 35-40 range regardless of dealer unless somebody was lowballing you. Even a below average trade quote would get you in the ballpark of 33 absolute minimum.

I would think since your friend has many more kms than my car i should get more than his 38000 for my trade

 

[NLJ]

Sometimes the lower trade in value vs higher resale works in your favour.
Trades are painless. Plus you get the reduced benefit if the trade in view vs private sale value is only within a few thousands.

With trade in your total is:
MSRP - Trade in = Subtotal
Subtotal + Tax = Total

If you sell privately:
(MSRP - Downpayment) + Tax = Total

If you owe on your vehicle, don't tell them how much you owe. Just ask them what they will offer you. Sometimes they f$%k around and make it look like they're doing you a favour paying off your car but giving you wholesale value or less!

 

[gitSehT]

Just punch your trade info into auto trader value finder or the black book site to find a fairly accurate value. Double check it against a refined search of your vehicle/mileage/condition.

 

[Minbari]

I would think since your friend has many more kms than my car i should get more than his 38000 for my trade

With a car that new and that is still under warranty, kms don't mean as much as one might think they do in the valuation. I think region/city you're living in might have a bigger impact on trade value than the km number alone. That said, best you can do is ask around, or put your exact postal code/trim/etc into blackbook and get a rough estimate. I've found that the blackbook has more realistic trade in figures than the optimistic ones on KBB, but it could go either way I suppose.

 

[mike_1103]

New to this Forum, and a little bit late to the GV60 party.

Did place a deposit for a Performance GV60 (uyuni white on black interior) on March 23rd after road testing a GV70 to get a better look and feel on the Genesis brand.

I'm in Montreal.

At that time, the dealer told me there were 600+ pre-orders in Canada, and if I wanted to take delivery before year-end, I should hurry.

They were expecting a demonstration unit in April, prices around end of March / beginning of April, financing rates in April, and deliveries between May-June and December.

Will send him an e-mail to know more and keep you guys posted.

OK, heard back from my dealer and news are not so good…

Demonstration unit, prices and financing rates are now expected in May, I am number 263 in the queue (all models included), and my car will be built… in 2023!

 

[NLJ]

OK, heard back from my dealer and news are not so good…

Demonstration unit, prices and financing rates are now expected in May, I am number 263 in the queue (all models included), and my car will be built… in 2023!

Are you sure? That's quite the delay.
I ordered over the weekend and my GXM said mid to late August.

 

[mike_1103]

Are you sure? That's quite the delay.
I ordered over the weekend and my GXM said mid to late August.

Quite sure, unfortunately. Below is what I received from him (French is my mother’s tongue, he says Genesis Canada told them yesterday the production months for the current orders, my car will be built in 2023, and I am number 263):

Genesis Canada nous a fait parvenir hier les mois de de production associés aux commandes émises. Dans votre cas le véhicule sera produit uniquement en 2023 et votre rang est le 263ème au total, tout modèles confondus.

Nous devrions recevoir le véhicule d’essai routier et les prix avec un peu de retard en mai…

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[Feuros]

OK, heard back from my dealer and news are not so good…

Demonstration unit, prices and financing rates are now expected in May, I am number 263 in the queue (all models included), and my car will be built… in 2023!

I'm trying to reconcile what you originally said - there were 600 pre-orders already when you placed your deposit with you now being 263 in queue. Something doesn't add up with what your dealer is telling you.

 

[MycHo]

I'm trying to reconcile what you originally said - there were 600 pre-orders already when you placed your deposit with you now being 263 in queue. Something doesn't add up with what your dealer is telling you.

I agree it is strange. My Dealer sent me a screenshot of my order in their system.
My order has been placed on March 14 (9 days before Mike) and my rank is 378.

I pre-ordered mine online and my order has been associated with the Laval dealer.

 

[Feuros]

I agree it is strange. My Dealer sent me a screenshot of my order in their system.
My order has been placed on March 14 (9 days before Mike) and my rank is 378.

I pre-ordered mine online and my order has been associated with the Laval dealer.

Maybe there are separate queues for advanced and performance. Which did you order? Perhaps performance is being delayed.
I guess it's stupid to be guessing at this point, hopefully there's more information in the coming weeks.

 

[MycHo]

Maybe there are separate queues for advanced and performance. Which did you order? Perhaps performance is being delayed.
I guess it's stupid to be guessing at this point, hopefully there's more information in the coming weeks.

You may be right. Mine is an Advanced black on black.
Anyway as you say, other than waiting there is not much we can do.

 

[Irige]

You may be right. Mine is an Advanced black on black.
Anyway as you say, other than waiting there is not much we can do.

That would likely be why, when I talked to my dealership yesterday the GM told me the Performance Trims are being built first with the Advanced trims at a later undetermined date.

 

[Kraken]

I also placed my order on Feb 9 - and also was told 2 days ago my car was in production and delivery around end of June.
So either this is great validation that the cars are indeed being built - or we may have the same dealer, feeding us some bullshit LOL.

My dealer is K.S - you?

My Dealer is Genesis Estrie. What is K.S. ?

I also placed my order on Feb 9 - and also was told 2 days ago my car was in production and delivery around end of June.
So either this is great validation that the cars are indeed being built - or we may have the same dealer, feeding us some bullshit LOL.

My dealer is K.S - you?

 

[Imadudeadam]

My Dealer is Genesis Estrie. What is K.S. ?

K.S was the dealer's name (initials) as I didn't want to write his full name.
I am NOT with Estrie dealership so looks like we are both getting the same information

 

[PythonNF]

Wow sounds like you have a very similar car to my friend. His trade in quote from Genesis for a 2019 G70 3.3 sport with 70000kms was around $38k if I recall. Realistically private party it would fetch closer to $44-46k ish. I would expect your trade quote assuming its a clean car and title to be in the 35-40 range regardless of dealer unless somebody was lowballing you. Even a below average trade quote would get you in the ballpark of 33 absolute minimum.

I'm trading a 2019 Stinger GT Limited with 18k km on a Performance GV60. I've gotten trade quotes from Clutch.ca, Kia and Kelly and they all came in around $40k which is great. I'm going to lease so even if I get within $5k, this will make a big difference to the monthly cost. Also the higher cost of the performance should be reflected in a bigger end value which helps in the lease cost. I checked out leasing a top spec Kia EV6 online and was surprised at the residual value. Cost was $62345 & residual $36,376 for a 4 year lease. Hopefully Genesis will have similar residuals.

 

[Looney100]

Also the higher cost of the performance should be reflected in a bigger end value which helps in the lease cost.

I’m confused. How does a higher sticker price reduce lease payments? Residual value - particularly for a specific model - is a percentage of sticker price, where the difference between the two is the depreciation expense that lease payments must cover.
If we assume residual value at lease end is 50% of the original cost, depreciation expense on a $100K vehicle is $50K, vs. $25K for a $50K vehicle. In the first case, the lessor’s monthly payments need to cover twice the cost of the second, even though the residual of the first vehicle would be twice the second.
A higher cost vehicle doesn’t result in lower lease payments.

 

[fredf]

That would likely be why, when I talked to my dealership yesterday the GM told me the Performance Trims are being built first with the Advanced trims at a later undetermined date.

That would make some sense as they would be the higher markup car. Also they will make a better impression in the initial marketplace as people review them.
But all this is, of course, complete conjecture at this point.