No leasing in Texas?

[Time0ut]

Hi guys, I'm new here. I'm currently looking for a replacement for my '03 BMW 525i. Today, after I saw the leasing offer on the hyunday website, I went to to a local dealer here in Houston to check on the Genesis V8 Tech and they told me that they don't offer leasing. The guy couldn't tell me why so I just left.

Is this true for all Texas or it is just for this dealer?

 

[DeMAN]

Hi guys, I'm new here. I'm currently looking for a replacement for my '03 BMW 525i. Today, after I saw the leasing offer on the hyunday website, I went to to a local dealer here in Houston to check on the Genesis V8 Tech and they told me that they don't offer leasing. The guy couldn't tell me why so I just left.

Is this true for all Texas or it is just for this dealer?

That must be true, thats what the dealer in Baytown is telling me. It applies to all dealers in Texas.

This could be your answer here: Billy Navarre Chevrolet Honda Hyundai 1310 E College St, Lake Charles, LA, as they do lease the V8. You can call before you make that drive. (337) 474-1999. It can be serviced in houston. Its approx 144 miles from downtown houston to Lake Charles, LA.

 

[Mark_888]

According to an Hyundai advertisement I saw, the Genesis leasing deal that expired on 12/1/2008 excluded the "South Central Region". According to my Genesis Owners Manual, the South Central Region includes Alabama, Arkansas, Colorado, Kansas, Louisiana, Mississippi, Missouri, New Mexico, Oklahoma, Tennessee, Texas, and Wyoming.

I don't know about the current leasing deal.

It is possible that you can lease a Hyundai from an independent leasing company, but the above refers to the lease offered by Hyundai itself.

 

[BacktoHyundaibychoice]

I've never heard of such a thing! Of course you can lease a Hyundai. Not all regions offer the same deals, but to say NO to a lease outright? Unheard of.

Can't wait to see one of the Hyundai guys chime in. Are you there Frank? Or Priority?

 

[BacktoHyundaibychoice]

Quick question, no insult intended:
Did they tell you this before or after they ran your SSN?

 

[Mark_888]

I've never heard of such a thing! Of course you can lease a Hyundai. Not all regions offer the same deals, but to say NO to a lease outright? Unheard of.

Can't wait to see one of the Hyundai guys chime in. Are you there Frank? Or Priority?

Maybe you heard something about the recent stock market crash and world-wide credit crunch? There are a lot of things that have happened in the last 3 months that were previously unheard of.

Maybe the South Central Region had a leasing deal with a company that went under (like Lehman Brothers), or were taken over by the Feds and "certain" assets sold to other banks (Washington Mutual, Wachovia, Merrill Lynch, etc), or other banks or insurance companies that are in deep trouble (Citibank, Bank of America, AIG).

 

[BaywayRic]

Check it out here: HYUNDAI MOTOR FINANCE COMPANY (HMFC)

 

[Mark_888]

I just went to the Hyundai website (not leasing company) and I don't see any leasing deal for the Genesis right now.
http://www.hyundaiusa.com/financing/specialoffers/special_offers.aspx?vehicle=Genesis

 

[bpajax]

I leased mine in Florida last week through HMFC. Not sure if things have changed since then or are different in Texas.

 

[pm1234]

Wow that's not good. Things like this doesn't help the economy and doesn't help Hyundai to achive the predicted sales. Hope it all gets sorted out for you.

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[BacktoHyundaibychoice]

Maybe you heard something about the recent stock market crash and world-wide credit crunch? There are a lot of things that have happened in the last 3 months that were previously unheard of.

Maybe the South Central Region had a leasing deal with a company that went under (like Lehman Brothers), or were taken over by the Feds and "certain" assets sold to other banks (Washington Mutual, Wachovia, Merrill Lynch, etc), or other banks or insurance companies that are in deep trouble (Citibank, Bank of America, AIG).

If HMFC is in the same shape as Chrysler or GMAC it IS news to me. Like I said, I will wait for one of the dealers to respond.
If HMFC stopped all leases, even for a region, it would be major news.

 

[joe215]

I just leased my Genesis in Dallas on January 1st. Evey dealer in DFW had a lease program then. I doubt that has changed in the last three weeks.

 

[Mark_888]

I just leased my Genesis in Dallas on January 1st. Evey dealer in DFW had a lease program then. I doubt that has changed in the last three weeks.

I beleive that the speical lease program that Hyundai offered for the Genesis expired on or about Jan 5, 2009. There is no special lease term listed for the Genesis on the Hyundai website at this moment. There are (or were) lots of independent leasing companies, but the terms may be a different than previously offered by Hyundai.

 

[bpajax]

I beleive that the speical lease program that Hyundai offered for the Genesis expired on or about Jan 5, 2009. There is no special lease term listed for the Genesis on the Hyundai website at this moment. There are (or were) lots of independent leasing companies, but the terms may be a different than previously offered by Hyundai.

HMAC announced a new 27 month lease program on 1/6 with $1,000 and $1,250 cashback on the 3.8 and 4.6, respectively, and an almost zero percent money factor (I can't remember exactly what it was). The residuals were in the 52% to 56% range depending upon mileage and model. I leased mine on 1/14 under that program. I'm not sure if it's still in effect.

 

[joe215]

There were no leases posted on the Hyundai site when I leased mine. However, at the time, the specific program was only available in North Texas (the Houston dealers didn't have a program).

I have a 3.6 PP. 58% residual value at less than a half percent interest.

 

[Mark_888]

I just saw this on the Hyundai website:
http://www.hyundaiusa.com/vehicle/genesis/genesis.aspx

Lease a 2009 Genesis for $399 a month for 27 months*

*Lease financing available on 2009 Hyundai Genesis 3.8 V6 model code B0422. Lease offer available only at participating Hyundai dealers. Lease offer not available the states of NM, TX, OK, LA, AR, MS, AL, and TN. Offer ends February 2, 2009. Monthly lease payments of $399.00 for 27 months based on MSRP of $33,000.00 (includes freight). $2,599 due at lease signing (includes $2,200 cap cost reduction.) Total lease payments are $10,773.00. Excludes tax, title, license, and registration fees. Lease financing subject to credit approval. Dealer contribution may affect terms. Lessee must cover insurance. At lease end, lessee will be liable for disposition fee ($400.00), any excess wear and use as set forth in the lease agreement and excess mileage charges of $.20 per mile for miles driven in excess of 12,000 miles per year. Purchase option at lease end for $19,470 excludes taxes. Lessee acquires no ownership interest unless purchase option is exercised. See participating Hyundai dealers for details and vehicle availability.