Lease Payments

[bobbyvzw]

Hello Everyone

I have been shopping for a new car as my old lease is up.
I went to bmw and lexus and then decided to check out the genesis. When i went in they asked the normal questions, What do you want to pay, How much down. What options.
I picked and awd with the tech package and signature. Car was around 49,000 sticker
After waiting for about 15 minutes the gm came out and said he doesnt even want to run the numbers. saying the car would be around 700 a month lease. I was shocked considering that i could get a lexus gs350 awd for 509 a month or even a bmw 5 series for way less.
Only explanation he had was that the car was to new and everybody wanted one ??

I was wondering did anyone here get any lease prices from a dealership ?? I really liked the car but im not paying 700 a month. For that ill pay 509 and get the gs350.
Any help would be great, I do appreciate it.

 

[ksoze]

The Hyundai website has lease offers listed. Example:

LEASE OFFER
Lease a 2015 Genesis 4dr Sdn 3.8L V6 RWD for $429 per month for 36 months with $3,999 due at lease signing.

https://www.hyundaiusa.com/financial-tools/special-offers.aspx?vehicle=Genesis

 

[bobbyvzw]

ksoze - i saw this already but i was asking if anyone got any quotes from there local dealers. This is there only offer on the genesis. The only was to get pricing is through the dealers.
Even so that seems alot considering your puting 4,000 down on a lease ? My only comparison is lexus and bmw.

 

[jcox12]

Depends on what residual they are setting. I didnt lease but in general purchasing the car would make the note more expensive with everything else being the same. My 3.8 rwd ultimate was 47,384 and after about 8 down I was at 675 a month with extended warranty and gap insurance. So unless he kept the car at sticker and factored in no down payment not sure how your note could have been that high on a lease.

 

[bobbyvzw]

jcox12- I agree, It just doesn't sound right at all. I know different companies have different deals but the lexus was 5,000 more the the genesis and the numbers were alot lower monthly. Maybe i should try another dealership and have that look into it.

 

[ksoze]

You can extrapolate some info from the small print in the lease offer. It appears to be a 57% residual for 36 months and could be a 2-3% money factor. The example also assume a full list cap cost, which is not accurate.

 

[ComixZone]

There are a LOT of factors involved in leases. A quick look over at the Lexus GS lease shows it at 24 mos at 10k miles a year. Shorter lease and lower mileage will always give you a lower payment. The Genesis lease is 36 mos with12k per year.

I have the 3.8 AWD with the first two packages, sticker 48,950. I negotiated a 36 month, 15k miles per year lease with $4500 down and pay $588 month.

 

[carlosinseattle]

Here are the details of the lease I am considering:

2015 Genesis 3.8 AWD W/Signature and Tech Package
MSRP: $46,403
Sale Price Cap Cost:$43,470
Lease Cash: $1250
Due at signing: $3500
Cap Cost Reduction: $2972.44
Monthly Payment: $546.23 -- this includes WA State Sales tax.
Residual: $28971.95
Money Factor: .00173 I think, but can't remember for sure it is higher than the Money Factor on the RWD car, which is .00079. The money factor is set by Hyundai's leasing company in your region so that is non negotiable, and my numbers might be off on the MF by just a little.

Good luck. I am also considering a 2014 R-spec, they are practically giving those away right now

 

[Gunkk]

Term and miles, Carlos?

 

[sandy]

lease payments for top line genesis are very, very close to equus.

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[carlosinseattle]

Term and miles, Carlos?

36 months
12,000 miles per year
Had some credit dings this year so my scores are in the 650-690 range.

 

[Alwaysforward]

Depends on what residual they are setting. I didnt lease but in general purchasing the car would make the note more expensive with everything else being the same. My 3.8 rwd ultimate was 47,384 and after about 8 down I was at 675 a month with extended warranty and gap insurance. So unless he kept the car at sticker and factored in no down payment not sure how your note could have been that high on a lease.

If you don't mind me asking, what kind of interest rate did you get jcox12 ?

 

[jcox12]

If you don't mind me asking, what kind of interest rate did you get jcox12 ?

not at all 2.49% via cap one

 

[Alwaysforward]

Thank You...