Post purchase price details here (US $ only)

[danygenesis]

That is a definite maybe. Is the dealer going to perform any services in the sale? Sure you send the check to the leasing company and they send you a title. If the dealer does some services such as registration, temporary tags, he would be entitled to some form of compensation. Seems most of that would be optional as you could do it yourself.

When buying at lease end you have no interaction at all with any dealer. The whole process is done between you and the finance company ( in this case Genesis Finance). The only fee you own at lease end is the disposition fee and when you buy the car this fee is always waived.

 

[Mcc]

That is a definite maybe. Is the dealer going to perform any services in the sale? Sure you send the check to the leasing company and they send you a title. If the dealer does some services such as registration, temporary tags, he would be entitled to some form of compensation. Seems most of that would be optional as you could do it yourself.

I don’t think there is any maybe about it. I believe that whomever assumes the new financing is the entity that does the registration, etc. Genesis finance does not charge any fees to do the transfer. They just take your money and release the title. The dealer is in no way involved, at least in California.

 

[securityguy]

Thanks everyone...is anyone open to having a phone conversation before I head to the dealer on Saturday?

 

[jrosen9]

I've been considering doing exactly this (leasing and then buying the car out right at the end of the lease). From the looks of things, you should save money as you get the lease cash and the interest rate (MF) will be much lower.

There is one concern I have come across recently. I was considering trading in my current car and putting a decent chunk of cash down (basically everything that would be my down payment if I were financing). However, it came to my attention earlier this week that if I were to total the car any time during the lease, the lien holder would receive all the insurance money and you would be left with nothing. So if going this route, it may be best if you sell your car in a separate transaction and put all your money in an interest bearing account until you are ready to buy the car outright.


On a separate question, I noticed today that there are two different incentives listed for the G70 on the autobyel website. There is a $4,250 Rebate listed as Bonus Cash (Zero Down Lease Cash) and $4,250 Bonus Cash (Special Lease Cash) listed for a 36 and 48 month leases. Do you think its possible to get both of these?

 

[securityguy]

I've been considering doing exactly this (leasing and then buying the car out right at the end of the lease). From the looks of things, you should save money as you get the lease cash and the interest rate (MF) will be much lower.

There is one concern I have come across recently. I was considering trading in my current car and putting a decent chunk of cash down (basically everything that would be my down payment if I were financing). However, it came to my attention earlier this week that if I were to total the car any time during the lease, the lien holder would receive all the insurance money and you would be left with nothing. So if going this route, it may be best if you sell your car in a separate transaction and put all your money in an interest bearing account until you are ready to buy the car outright.


On a separate question, I noticed today that there are two different incentives listed for the G70 on the autobyel website. There is a $4,250 Rebate listed as Bonus Cash (Zero Down Lease Cash) and $4,250 Bonus Cash (Special Lease Cash) listed for a 36 and 48 month leases. Do you think its possible to get both of these?

Exactly my concern on the "totaling the car" as you would lose all of your money if the vehicle is still owned by the bank. I am still a bit "confused" on how the lease payoff works after 90 days of leasing and how I can benefit from that? There appear to be some knowledgeable folks here and hoping that someone will be willing to have a phone conversation as this is not my expertise at all.

The $4250 rebate applies to the 2.0T Lease (the 3.3T has a $3000 lease rebate). You can only get one lease rebate plus the conquest incentive of $1000 if that applies to you.

 

[TurtleBoy]

There is one concern I have come across recently. I was considering trading in my current car and putting a decent chunk of cash down (basically everything that would be my down payment if I were financing). However, it came to my attention earlier this week that if I were to total the car any time during the lease, the lien holder would receive all the insurance money and you would be left with nothing. So if going this route, it may be best if you sell your car in a separate transaction and put all your money in an interest bearing account until you are ready to buy the car outright.

That is a common myth that is often passed along but not true. Should that situation occur, the financing company would pass along any "extra" money to you. The situation would be no different than when you finance a car. For example, if you car was totaled and the insurance company determined it was worth $35k and the balance on the lease (the lease buyout amount) was 20k, the extra 15k would come to you.

 

[Mcc]

That is a common myth that is often passed along but not true. Should that situation occur, the financing company would pass along any "extra" money to you. The situation would be no different than when you finance a car. For example, if you car was totaled and the insurance company determined it was worth $35k and the balance on the lease (the lease buyout amount) was 20k, the extra 15k would come to you.

Correct
In addition, the lease includes gap insurance at no extra cost. If in the first year (I think) the car is new enough and gets totaled it may be worth less than you owe. In that case the lease pays the gap.

 

[danygenesis]

The only drawback you will have when you lease (compared to buying) is that you need to pay the Aquisition fee. Genesis finance will charge you $765 for it.

 

[jrosen9]

The only drawback you will have when you lease (compared to buying) is that you need to pay the Aquisition fee. Genesis finance will charge you $765 for it.

But at the moment you make it right back by getting the $3000-$4250 Lease cash as well as a much lower interest rate (MF).

 

[Mcc]

But at the moment you make it right back by getting the $3000-$4250 Lease cash as well as a much lower interest rate (MF).

An isn’t there a fee anyway if you had financed a loan?

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[danygenesis]

An isn’t there a fee anyway if you had financed a loan?

I'm not sure.

 

[danygenesis]

But at the moment you make it right back by getting the $3000-$4250 Lease cash as well as a much lower interest rate (MF).

That's correct, but it's something to keep in mind. You have to take away that sum from the lease incentive.

 

[EdP]

But at the moment you make it right back by getting the $3000-$4250 Lease cash as well as a much lower interest rate (MF).

But if you are buying up front, chances are you could get that much discount off sticker. Interest rates vary but when I bought it was 0.9%.

 

[tarhoosier]

I asked the question well back in this thread about the exceptional incentives for leasing while buying and/or financing receives only a good rate (1.9) but far more than the money factors quoted for lease. The answer here, at least, was that Genesis is competing in the field of Audi and BMW among a few others and these models are focused on the lease market, users who need a new car every 3-4 years and preserve capital for other uses. Thus to capture the attention of such customers the lease must be strongly competitive as well as the price and related services. Cash or finance buyers are not subsidized to nearly the extent because Genesis wants to take share from the aforementioned brands first, then after establishment of the marque other techniques can be used. They should know what they are doing and Hyundai sales can buoy Genesis for now and BMW and Audi have no such support.

 

[securityguy]

Quick question, since this is a first model year vehicle. The two dealers, that have what I think I want, the three cars I am looking at have build dates of July 2018 and November 2018. That surprised me that cars are sitting here that long. I know they come on a boat from Korea but the July dates scare me as I know that a manufacturer "fixes" things throughout production as issues arise or complaints start coming in from dealers and buyers related to issues that require a TSB. Thoughts or am I worrying about nothing? I could also wait for the 2020 to hit the dealers but no one seems to know when that will be and I am getting a solid deal on my Acura trade and don't want to lose another grand or so. Thanks

 

[Beefer]

Quick question, since this is a first model year vehicle. The two dealers, that have what I think I want, the three cars I am looking at have build dates of July 2018 and November 2018. That surprised me that cars are sitting here that long. I know they come on a boat from Korea but the July dates scare me as I know that a manufacturer "fixes" things throughout production as issues arise or complaints start coming in from dealers and buyers related to issues that require a TSB. Thoughts or am I worrying about nothing? I could also wait for the 2020 to hit the dealers but no one seems to know when that will be and I am getting a solid deal on my Acura trade and don't want to lose another grand or so. Thanks

I have a July 2018 build with zero issues. 4,500 miles in.

You’re fine.

Good luck!!!

 

[securityguy]

Thanks...this one has 24 What are the first build dates of the G70...anyone know?

 

[danygenesis]

Mine was built in May/2018 and I got it 2 months after @Beefer got his. No problems so far. Buy with confidence.

 

[mrcleeaan]

Quick question, since this is a first model year vehicle. The two dealers, that have what I think I want, the three cars I am looking at have build dates of July 2018 and November 2018. That surprised me that cars are sitting here that long. I know they come on a boat from Korea but the July dates scare me as I know that a manufacturer "fixes" things throughout production as issues arise or complaints start coming in from dealers and buyers related to issues that require a TSB. Thoughts or am I worrying about nothing? I could also wait for the 2020 to hit the dealers but no one seems to know when that will be and I am getting a solid deal on my Acura trade and don't want to lose another grand or so. Thanks

I'm not sure of any issues that were fixed, however, mine is a dec 2018 build and I noticed my center console has the 4 buttons instead of 5 with a blank.

 

[securityguy]

I'm not sure of any issues that were fixed, however, mine is a dec 2018 build and I noticed my center console has the 4 buttons instead of 5 with a blank.

Can you take a pic of what you are referring to?