Price Paid For 2015 Genesis

[Genesiswannabee]

Does anyone know when the 2016 Genesis are due to arrive?

 

[amartz]

I got, what I consider a pretty phenomenal deal. 5.0 Ultimate package for under $40k with only 42 test-drive miles on it. Never titled, never owned, but it was marked as "used". I jumped without a second thought.

Did that come with the "new" car warranty, or the "used" car warranty?

 

[srobak]

Msrp. 55,900 black on black ultimate a new car but a demo 7200 miles 43750....my first hyundai

Nice... mine was white on tan, ultimate, awd with 9500 on it for 40k.

 

[bball4032]

Any of you deal driven Genesis lovers out there interested in a 2015 5.0 tech or non-ultimate black on black with 3,500 miles on it? It's still considered new. The miles are from the Equus concierge program. MSRP $52,635 for $38,635 . . . $1,000 of that is assuming you own something other than a Kia.

 

[randian]

What sort of discount should I be targeting before factory incentives (lease cash, conquest lease, $500 coupons)? Ideally I'd like to lease a new 5.0 Ultimate. Somebody here was talking minimum 10%, but I'm not sure if that's exclusive of incentives. $5-6k + incentives easily adds up to $10-11k off MSRP, or around $45k for an Ultimate.

Also, I wanted to confirm some things. I went to a dealer today without sufficient knowledge and I'm pretty sure I was told some whoppers.

1) "5.0 money factor is a lot higher than 3.8: 0.00067". Why would that be so?
2) "3.8 starting money factor is 0.00027". Isn't it 22 right now?

Of course the manager played the "you shouldn't care how I get there" card in trying to push a certain down + payment. The wrong play when you're speaking to an engineer. The quote was padded with a $788 junk fee. Lease cash is $2250 this month isn't it? And conquest lease is $1500? Yet the quote gave only a $3000 discount. Where did the other $750 go? Not to mention no dealer participation at all. He didn't have any Ultimates in stock anyway and showed no interest in trading for one, so I ended up walking away.

 

[BrazGenesis]

What sort of discount should I be targeting before factory incentives (lease cash, conquest lease, $500 coupons)? Ideally I'd like to lease a new 5.0 Ultimate. Somebody here was talking minimum 10%, but I'm not sure if that's exclusive of incentives. $5-6k + incentives easily adds up to $10-11k off MSRP, or around $45k for an Ultimate.

Also, I wanted to confirm some things. I went to a dealer today without sufficient knowledge and I'm pretty sure I was told some whoppers.

1) "5.0 money factor is a lot higher than 3.8: 0.00067". Why would that be so?
2) "3.8 starting money factor is 0.00027". Isn't it 22 right now?

Of course the manager played the "you shouldn't care how I get there" card in trying to push a certain down + payment. The wrong play when you're speaking to an engineer. The quote was padded with a $788 junk fee. Lease cash is $2250 this month isn't it? And conquest lease is $1500? Yet the quote gave only a $3000 discount. Where did the other $750 go? Not to mention no dealer participation at all. He didn't have any Ultimates in stock anyway and showed no interest in trading for one, so I ended up walking away.

APR = .5 MF=00021 for this month & 3.8
in other parts of this group we can see it may differ by model
Resulting calculations: confer with yours. They may charge tax when the resulting amount includes tax. That would mean an increase in the price of 6.0% in Fl, for instance.
Remember: MSRP & month incentives & 500.00 coupons don't preclude discounts...

 

[ksoze]

APR = .5 MF=00021 for this month & 3.8
in other parts of this group we can see it may differ by model

For at least the past several months, the MF and residual was lower for the 5.0 compared to the 3.8 models. Not sure if that has changed after August.

 

[BrazGenesis]

For at least the past several months, the MF and residual was lower for the 5.0 compared to the 3.8 models. Not sure if that has changed after August.

Good point! My data is from Sep 2nd.
Lets remember that lower residual= higher lease fee
Higher residuals are mostly a disguised discount.
I tried to retain my 2012 by the end of lease. It would cost me around 5K in excess residual Vs market value. Plus ext. warranty & tax.
In summary, when I leased I benefited from a monthly fee that projected an unreal value for the car at lease end.
Reluctantly I returned it after 33 months and ZERO issues.
Whoever buys it will buy a gem!

 

[randian]

For at least the past several months, the MF and residual was lower for the 5.0 compared to the 3.8 models. Not sure if that has changed after August.

So the dealer was BSing me. I hate that, and I hate "you don't need to see the numbers". Quoted residual was 56%, which seems in line with other deals quoted here. I thought Hyundai Finance set the residuals not the dealers.

Maybe this was just the wrong dealership. Counter-offering with a crap deal where I wouldn't get the full value of eligible incentives suggests he didn't really want to sell me a car, or thought me a fool. I thought the 5.0s weren't selling like they expected, yet this guy seemed more interested in selling a 3.8.

I'm targeting ~$4k dealer discount (a little profit + holdback for the dealer) + lease cash + conquest + 5 coupons. Looks about $10,250 in total. Too aggressive?

 

[ksoze]

So the dealer was BSing me. I hate that, and I hate "you don't need to see the numbers". Quoted residual was 56%, which seems in line with other deals quoted here. I thought Hyundai Finance set the residuals not the dealers.

Hyundai sets the residual, not the dealer. As of August, it was 54% residual for 12K a year and 55% for 10K. It was also a .00003 MF.

I guess they boosted the residual since then, which is at odds with the fact it would actually be lower as the new models are on the doorstep. As stated above, car makers artificially set the residual based on other factors which does not represents the actual depreciation that may occur over the next 3 years.

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[randian]

Hyundai sets the residual, not the dealer. As of August, it was 54% residual for 12K a year and 55% for 10K. It was also a .00003 MF.

Sure that's 4 zeroes? That's a 0.072% APR! Might as well be zero. Any comments on my proposed deal?

 

[ksoze]

Sure that's 4 zeroes? That's a 0.00072% APR! Might as well be zero.

Four zeros is correct for the MF, it is just under 1/2% APR (.072).

 

[randian]

Four zeros is correct for the MF, it is just under 1/2% APR (.072).

1/2% APR would be 0.00021. 0.00003 MF is less than 0.1% APR.

 

[ksoze]

1/2% APR would be 0.00021. 0.00003 MF is less than 0.1% APR.

Yes, as I stated under 1/2% APR or .072. Are we debating the .00003 MF or what it is times 2400? That was the MF for the 5.0 as of August.

 

[MJDBOS]

Good afternoon. New member & currently in market to lease a 2015 Genesis AWD Signature. I'm hoping to score a deal factoring in that I have some negative equity to roll into lease.

I was shooting to get as close to invoice pricing (42568 w/ 950 destination included). From that I was looking to deduct the 1500 Lease Conquest Coupon (https://www.hyundaiusa.com/financial...al-offers.aspx) and then wrangle up to five 500 Dealer Coupons for a final Cap Cost of 38568.00. Best I can do is 39550. That's 6K off MSRP but I also know they've got 2-3% hold back on this car. Any thoughts? More room to negotiate?

Additionally I have a 2012 Volvo S60 to trade. I'm under water on it due to negative equity from a previously owned vehicle. Best trade number I'm getting is 15,000 which means I need to roll 5400 into Cap Cost or total of 44,950.

Looking to do a 36 month, 15K per year lease. Dealer is telling me residual is 55%. Is that true? Also a MF rate of around .83% or .00035. Seems I've seen higher residuals and less MFs. I'm in MA so Sales Tax is 6.25%. I refuse to put any money down (cap reduction). They're quoting 616.16, tax in. MSRP is 45,450.00.

Kills me knowing that a LOT of people are leasing this vehicle in the low 400's but I have that negative equity. I still think there's more room on Cap Cost.

Would appreciate any feedback or words of advice. Looking to pull trigger by end of month but also looking at other vehicles.

 

[ksoze]

Probably only need to post in one thread if you want answers.

 

[randian]

What are the current money factors for lower credit tier i.e. 2-6 leases?

 

[lacrossewacker]

Good afternoon. New member & currently in market to lease a 2015 Genesis AWD Signature. I'm hoping to score a deal factoring in that I have some negative equity to roll into lease.

I was shooting to get as close to invoice pricing (42568 w/ 950 destination included). From that I was looking to deduct the 1500 Lease Conquest Coupon (https://www.hyundaiusa.com/financial...al-offers.aspx) and then wrangle up to five 500 Dealer Coupons for a final Cap Cost of 38568.00. Best I can do is 39550. That's 6K off MSRP but I also know they've got 2-3% hold back on this car. Any thoughts? More room to negotiate?

Additionally I have a 2012 Volvo S60 to trade. I'm under water on it due to negative equity from a previously owned vehicle. Best trade number I'm getting is 15,000 which means I need to roll 5400 into Cap Cost or total of 44,950.

Looking to do a 36 month, 15K per year lease. Dealer is telling me residual is 55%. Is that true? Also a MF rate of around .83% or .00035. Seems I've seen higher residuals and less MFs. I'm in MA so Sales Tax is 6.25%. I refuse to put any money down (cap reduction). They're quoting 616.16, tax in. MSRP is 45,450.00.

Kills me knowing that a LOT of people are leasing this vehicle in the low 400's but I have that negative equity. I still think there's more room on Cap Cost.

Would appreciate any feedback or words of advice. Looking to pull trigger by end of month but also looking at other vehicles.

I'm by no means a financial analyst of any sort, but if you're under some water right now, I wouldn't be looking into leasing a luxury car. Honestly, if you're still into the genesis, look at the older models.

 

[TexityTex]

Great price! I could easily choose the Monticeto Blue myself. Does the fact that the dealer sold the car to you as used affect the new car warranty?

Hi, sorry, I've been out of the world for a while...

Honestly I'm unsure. I believe so, but I'm not 100% on that. Only had to take it in twice, and that was for the recall tires, an oil change, and a nav update. Haven't paid a dime yet. Also somehow picked it up with 2 years of the full meal deal Blue Link package.

I know this is something I should look into, but I haven't.

 

[iolaus]

Scored a 2015 3.8L AWD Ultimate, Montecito Blue Exterior, Grey Interior

36K Miles, not CPO

Final price $32,024 (shipped to me, MO to MN) + tax & licensing

Feeling pretty good about the pricing, can't wait for delivery!