Leases and residuals on a G70

[g70]

I've taken the G80 Tech as a model as that has a similar base price as the top end G70 I am looking at, and plugged it into their configuramabobilator. Hopefully the residual values will be similar. It looks from my workings as if that is giving a residual value of 60-61% for a 3 year lease with 24000km. I am not too experienced in this but I break them down as follows(top row lease length, first column kms):

Term -24- -36- -39- -48- -60
16,000 -75- -64- -63- -58- -50
20,000 -74- -63- -62- -57- -49
24,000 -72- -61- -60- -55- -47
28,000 -70- -58- -57- -51- -42

At 1.9% it all starts to look pretty interesting. 39 months looks like the sweet spot for lease length/residual value. That gives a monthly payment of approx $1030 here in my province (QC).

The thing is, the list price factors in 5 years of all the extras into the car. If you only lease it for three years, it could be argued that you are overpaying.... Is locking it in for 5 years at 1.9% a better plan?

Anyone got any thoughts on this? Are my calculations correct? Also- is the protection plan worth getting?

 

[GenesisYEG]

Your residuals are incorrect. No further comment regarding residuals.

I prefer short term leases as I like new things but 5 years could be enough time for a hi-po G70 to come out. 1.9% is a great rate and will go up at least a full point if you don't pre-order so if you keep within your mileage limit and want a lower payment, it wouldn't be a terrible idea to lease long-term as the warranty covers your butt and maintenance is covered. Plenty of Bimmer lessees lease for 4 years to take advantage of the warranty and maintenance.

Protection plans are worth it IMO because surprises happen and are often expensive (windshields especially in Alberta, tires, that bumper damage you never saw until just now, etc.). YMMV, however.

 

[g70]

Your residuals are incorrect. No further comment regarding residuals.

That's not particularly helpful, but thank you for taking time to reply and thank you for the rest of the advice and feedback!

 

[GenesisYEG]

That's not particularly helpful, but thank you for taking time to reply and thank you for the rest of the advice and feedback!

I would love to tell you more but I will get in trouble.

 

[AnyVare]

Seems like the lease deals are by State here in the US. NJ (Burns) is currently showing a $359/36 deal for a 2.0.

 

[ACCHRM]

Seems like the lease deals are by State here in the US. NJ (Burns) is currently showing a $359/36 deal for a 2.0.

which trim? sounds like a 1% deal if it's the base model, unless they are asking for a lot of down.

 

[AnyVare]

which trim? sounds like a 1% deal if it's the base model unless they are asking for a lot of down.

Here's the fine print I found online, looks a little limited but like most advertised leases...they're a form of marketing to get you in the dealership.

Lease: $359 per month for 36 months. $2,699 due at signing

1. $359 per month for 36 months
2. $2,699 cash due at signing

• Applies to select new 2019 Genesis G70.

Offer only valid 10-10-2018 through 10-31-2018

* Disclaimers

• Lease a 2019 G70 2.0T AT RWD for $359 per month for 36 months with $2,699 due at lease signing.
  Closed end lease for 2019 G70 2.0T AT RWD (Model #R0412R45) available from October 2, 2018 through October 31, 2018, to well-qualified lessees approved by Genesis Finance. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. Offer shown based on $2,699 due at lease signing (includes $359 first payment and $2,340 capitalized cost reduction). No security deposit required. MSRP $35,895 (includes destination, excludes tax, license, title, registration, documentation fees, options, insurance and the like). Actual net capitalized cost $33,295.03. Net capitalized cost includes $750 acquisition fee and includes credit for either $1,000 Valued Owner Coupon or $1,000 Competitive Owner Coupon. Dealer contribution may vary and could affect actual lease payment. Total monthly payments $12,924.00. Option to purchase at lease end $20,819.10. Lessee is responsible for third-party fees. Third-party fees vary by state or locality. Lessee is also responsible for insurance, maintenance, repairs, $.25 per mile over 10,000 miles/year, excess wear, and a $400 disposition fee. Disposition fee of $400 applies in all states except CO, IN, IA, KS, ME, OK, SC, WI, WV, & WY, where disposition fee is subject to state law limitations.
  
  CO, IA, KS, ME, OK, WV, & WY: The amount of 2 times the base monthly lease payment of $359, whichever is less.
  
  IN & SC: The amount of 3 times the base monthly lease payment of $359, whichever is less.
  
  WI: The amount of the base monthly lease payment of $359, whichever is less.
  
  Must take new retail delivery on vehicle from dealer stock by October 31, 2018.
  See dealer for warranty and lease details.
  Cannot exceed 10000 miles per year.
• See State Disclaimer *

 

[danygenesis]

Not the best lease and of course never a 1%. According to those numbers you will pay $424 monthly plus taxes and dealer/other fees on a 36/10, zero down for the lowest G70 trim.

 

[Beefer]

Some numbers for another trim.

Here are the October numbers for a 3.3T Sport AWD...

10k miles
36 months: 0.00018 MF and 56% residual
39 months: 0.00048 MF and 54% residual
42 months: 0.00073 MF and 52% residual

 

[danygenesis]

Those numbers are inaccurate. You cannot generalize like that.

Here are the October numbers for a 3.3T Sport AWD...

10k miles
36 months: 0.00018 MF and 56% residual
39 months: 0.00048 MF and 54% residual
42 months: 0.00073 MF and 52% residual

He was not generalizing, that's the numbers from Genesis for the 2019 G70 2.0T AT RWD.

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[Beefer]

He was not generalizing, that's the numbers from Genesis for the 2019 G70 2.0T AT RWD.

You're right...sorry about that. I have seen generalized posts elsewhere. Wonder what the MF for that deal is though.

 

[danygenesis]

You're right...sorry about that. I have seen generalized posts elsewhere. Wonder what the MF for that deal is though.

I will try to make the numbers

 

[danygenesis]

Should be near this, for a G70 2.0t Advance RWD 36/10K
MF: .00023
RV: 58%
$1000 Incentive.

 

[Beefer]

Not sure if you went to this link or not...but create a post here and you will get your numbers...

2019 Genesis G70 Lease Deals and Prices

 

[AnyVare]

I'd also add that for a car that's only been on the lots a week, I don't expect we'll see "great" lease deals for a while. But if I can get a 1% or really close, it might be worth adopting early.

 

[Beefer]

I think the lease deals are great.

 

[TurtleBoy]

I think the lease deals are great.

From a MF point of view definitely. Genesis has the lowest money factor that I have seen from the luxury manufactures/models that I look at.

 

[mdb801]

Yesterday, I asked the Edmunds forum about the residual and MF for several trims. According to their information, Advanced, Elite, Prestige, and Sport all have the same MF and residual (holding engine and drivetrain constant). Their system only shows 3 trims: Base, Design, and Dynamic. Their assumption is that "Base" includes several trims. From Edmunds:

"I think it's like this:
Unless you have Design or Dynamic trim, the only thing that matters for lease numbers is engine choice and RWD/AWD. (plus stick/auto on 2.0 RWD).

3.3T RWD
36/12
.00016 MF and 55% residual"

 

[danygenesis]

Yesterday, I asked the Edmunds forum about the residual and MF for several trims. According to their information, Advanced, Elite, Prestige, and Sport all have the same MF and residual (holding engine and drivetrain constant). Their system only shows 3 trims: Base, Design, and Dynamic. Their assumption is that "Base" includes several trims. From Edmunds:

"I think it's like this:
Unless you have Design or Dynamic trim, the only thing that matters for lease numbers is engine choice and RWD/AWD. (plus stick/auto on 2.0 RWD).

3.3T RWD
36/12
.00016 MF and 55% residual"

I was the one who asked before on the Edmunds forum about the 3.3t Prestige and moderator answer me that there is no difference between Advance, Elite, Prestige and Sport trims. Difference is between RWD and AWD, engine and Design or Dynamic. Note that the 2.0T has better RV than the 3.3T

 

[Beefer]

I was the one who asked before on the Edmunds forum about the 3.3t Prestige and moderator answer me that there is no difference between Advance, Elite, Prestige and Sport trims. Difference is between RWD and AWD, engine and Design or Dynamic. Note that the 2.0T has better RV than the 3.3T

Usually the higher the trim (or in this case engine)...RV goes down.

I'm still happy with the 10k/36mths numbers...it's just a matter of getting a friggin car and applying them !!