Price Paid For 2015 Genesis

[uncarich]

I have a 36/12 Lease question. If you use less than 12 a year is there a credit at lease end?

 

[ksoze]

I have a 36/12 Lease question. If you use less than 12 a year is there a credit at lease end?

Generally, no. Some manufacturers have been know to give some kind of small credit towards a new lease, but usually there is no money back per mile unused on a lease.

 

[CtK]

Hi, new to this forum. But I have a 2013 Genny coupe 3.8 GT

Dealer is offering to pay off the last two months of my lease.
Offering me a lease on 2015 Genesis 5.0 Ultimate for $2000 due at signing, $500 a month, tax included. 36 months and 12,000 miles a year.

Good deal??

Thanks!!

 

[DrNotes]

OK got my final numbers, picking up my V6 AWD Ultimate in Empire State Grey tomorrow, as follows:

Price: $47,386 after $1500 in "rebates"
Including a handful of small extras; cargo mat, wheel locks, first aid kit, mud flaps and rebadge the trunk. And a free cheapo 32" TV.

Going to trade in my daughter's car that I paid off for a $250 profit after paying it off and finance for 60 months at 1.9%.

If the buyout on a lease was based on a percentage of the negotiated price, it would be a better deal to go that route. The trick is that the buyout is based on the sticker price, so if I lease it for 3 years and then buy it at the end, it turns out to be about a wash. It does provide the option to walk away after 3 years, but if I buy it I can sell it at any time and get something else. No matter what, new cars are a bad investment lol.

Also, I have never in my life heard of a credit for unused miles on a lease, which is part of the reason that I am no longer leasing since I do not put on anywhere near 10,000 miles a year, the minimum they will do on a lease. Turning in my last two year lease with 15,000 miles on it.

 

[Hoidy]

If the buyout on a lease was based on a percentage of the negotiated price, it would be a better deal to go that route. The trick is that the buyout is based on the sticker price, so if I lease it for 3 years and then buy it at the end, it turns out to be about a wash. It does provide the option to walk away after 3 years, but if I buy it I can sell it at any time and get something else. No matter what, new cars are a bad investment lol.

Not quite sure what you mean by the residual being based upon negotiated price instead of sticker as a better deal and that it is a wash if you buy it at the end of lease.

The residual is based upon sticker, but you only pay depreciation from the negotiated price. If you purchase at the end of the lease you pay the residual, but the total paid is not the sticker, it is the negotiated price. For instance if sticker is 50k, negotiated price is 45k and residual (based upon sticker) is 30k. You pay 15k in depreciation during the lease and then the remaining residual of 30k at the end for a total of 45k.

 

[sc24]

I paid $33,800, sticker price was right a 42k

 

[synnyster]

I paid $33,800, sticker price was right a 42k

Is that base or with signature or tech package? If it is with any package, that is incredibly cheap.

 

[krs71]

Hi guys,
New member here and first post
I just LEASED and picked up my new Genesis on Sunday from Hardin Hyundai in Anaheim SoCal. I got a 2015 sedan, 3.8 Ultimate package in Ibiza blue with the Ivory interior.

I used "truecar" website and got a discount of $7,754 from the MSRP. The dealer didnt give me any grief over the discount and didn't try to "throw any extra's in" that "are already on the car and cant be removed from the package/deal". This brought the price down from the window sticker of $50,186 to $42,483. They DID include a KARR alarm system, but didn't charge me any extra for it! I was happy overall with the price.
I turned out to be tier 4 credit, as I already have another lease on a Hyundai for my wife, so my score was around 680. But, they pushed me up to tier 3, and told me the repayments were the same for tier 1, 2, or 3. So again, I was really happy with that.
I wanted to keep my monthly repayment down, so I actually put a deposit of $6000 down. $4,000 in cash, and then I was going to trade an old car in (99 Infiniti G20), but somebody brought it from me for cash in the dealers parking lot for $2,000! So I used the cash money from that too!!
My lease is a 3 yr lease, 12k miles with a monthly payment of $326.05 and a residual of $29,579.65.

Overall, I couldn't be happier. It drives like a dream..although the lane departure function feels a bit wierd till you get used to it....Maybe I should just drive in a straight line or shut it off.
The only other thing I don't really get is why they would limit the heated steering wheel and heated back seat to the AWD models...I mean in SoCal, you dont need AWD...but a heated wheel would be great a few mornings a year!

Oh, one last thing, I bought the Genesis decal on Ebay for $13 and intend on switching out the Hyundai H on the trunk this sunday for it.

All the best, and happy motoring!
Alan

Congratulations, welcome to the forum, what dealer in socal offered that? I'm in the market for a 3.8 AWD Ultimate...

 

[sc24]

Is that base or with signature or tech package? If it is with any package, that is incredibly cheap.

all wheel drive base model. i bought it on the last day of the month

 

[Seachange01]

Congratulations, welcome to the forum, what dealer in socal offered that? I'm in the market for a 3.8 AWD Ultimate...

Hi, and thanks. That was through Hardin Hyundai Anaheim. The sales persons name was Jose. He responded to me after I did the true car pricing. hope that helps,
Alan

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[DrNotes]

Not quite sure what you mean by the residual being based upon negotiated price instead of sticker as a better deal and that it is a wash if you buy it at the end of lease.

The residual is based upon sticker, but you only pay depreciation from the negotiated price. If you purchase at the end of the lease you pay the residual, but the total paid is not the sticker, it is the negotiated price. For instance if sticker is 50k, negotiated price is 45k and residual (based upon sticker) is 30k. You pay 15k in depreciation during the lease and then the remaining residual of 30k at the end for a total of 45k.

I didn't look at it that way, only from the perspective of wanting a lower residual at the end. Good point. I did crunch the numbers from the dealer both ways and there was not a big advantage when leasing. I figured financing the residual at 3% which yielded a savings of only about $500 if I remember correctly.

 

[krs71]

Hi, and thanks. That was through Hardin Hyundai Anaheim. The sales persons name was Jose. He responded to me after I did the true car pricing. hope that helps,
Alan

Thanks Alan

 

[ppern]

Let me know what you guys think of this deal..I picked the car up last Monday

2015 Genesis Sedan
3.8 with AWD
Signature Package
Technology Package
Parisian with Black Interior
Cargo Tray
Rear Bumper Guard
First Aid Kit
All Weather Mat Set

36 months / 12k miles per year
$1500 total at singing
$439 per month

i think its too good to be true/ congrats if thats all the down payment u had to put down. did u have a trade in? cause im paying 400 a month without awd and tech @2000 dp

 

[ZoggyBottom]

Just bought a 3.8L Ultimate AWD... sticker was $52,645, out the door at $46,500. Felt like a pretty good deal.

 

[Ernie3647]

Just bought a 3.8L Ultimate AWD... sticker was $52,645, out the door at $46,500. Felt like a pretty good deal.

If that was brand new then it definitely was. Good choice what color is it.

 

[greekgeek]

Just bought a 3.8L Ultimate AWD... sticker was $52,645, out the door at $46,500. Felt like a pretty good deal.

If that includes tax then you killed it!! Even if not that's a good deal lower than I was quoted on AWD ultimate.

 

[ksoze]

Truecar is currently showing three local dealers at $46,985 for that model.

 

[jcastag]

i think its too good to be true/ congrats if thats all the down payment u had to put down. did u have a trade in? cause im paying 400 a month without awd and tech @2000 dp

I am pretty happy with the deal.. There was no trade, and down payment included all fees and first month.

 

[ZoggyBottom]

If that includes tax then you killed it!! Even if not that's a good deal lower than I was quoted on AWD ultimate.

Thanks! I leased it, so that was the capitalized cost. I used the remainder of the incentives to cover all my fees and first payment. I ended up with no cash down and 35 payments of $475 (including tax).

Also, they were very good to me on my trade... that helped seal it.

If that was brand new then it definitely was. Good choice what color is it.

Yes, brand new 2015 in Santiago Silver. I'm definitely loving the car so far.

 

[osamasyed]

I bought a "brasshat" which had 5900 miles on it. It was a manufacturer demo. MSRP was $55,855, got it for $41k after rebates and discounts. I don't mind the extra mileage, some would. And because of the TERRIBLE resale value of the Genesis currently, I lease.