Purchase Details so we all can prosper!

[darammer]

Date: 9/1/08
Model: V6 3.8 Premium Plus Package
Color: Sterling Blue Metallic/ Cashmere Interior
State: CA
Buy / Lease: Lease
Term: 24 month
Mileage: 12K a year
Total out of pocket: $2100
Monthly Payment: 459.00

 

[Wilbur_the_goose]

Mgrig - Honestly, with the economy these days, I'd wait till the spring. Prices WILL come down.

 

[KenT]

Well I sort of agree with Wilbur...

But if you know how to negotiate (well) like anything- cars, real estate, etc. in this current environment- you can get great deals now- especially if you a cash buyer
pertaining to cars and I am not talking get a loan- real cash speaks loud especially
on the last day of this month- which is the last day of the quarter.

 

[OneShot]

Actually, the best deal can be had if you wait until the last day of the month and let the dealer finance the vehicle, even if you are a cash buyer. Just make sure there are no prepayment penalties, so you can pay the car off a few days after the sale. The dealers get paid a portion, up front, for the financing so they can offer the car at a lower price if you finance with them rather than paying cash!

 

[pjkad]

New Lease Program?

I have a deposit in on a v6 tech. I am told by my dealer today that the lease program from Hyundai has changed. The 24 mo lease now has a residual of 59% instead of what was a 66% residual before (money factor is the same). This makes my monthy payment go up by about $50 which is huge. I questioned him on whether this was right and he said this is the new program. Anyone else hearing this. Can we confirm?

 

[Jerrad]

Well Roseville Hyundai in Northern California had 5 V6 for lease last month for 299 each. I belive the add is still on there website.

 

[sandy]

Re: New Lease Program?

[The 24 mo lease now has a residual of 59% instead of what was a 66% residual before (money factor is the same). This makes my monthy payment go up by about $50 which is huge. I questioned him on whether this was right and he said this is the new program. Anyone else hearing this. Can we confirm?[/QUOTE]



Wow. That is a HUGE increase. I re-figured the quote I received of $524/mo (includes 6% sls tx) based on the 66% residual. Using a 59% residual, the new number would be $630.

Possibly the 59% residual is for a 36 month lease becuase that is about what it was for other 36 month leases I/ve had (different cars, of course).

 

[pjkad]

[Possibly the 59% residual is for a 36 month lease becuase that is about what it was for other 36 month leases I/ve had (different cars, of course).]

That was my reaction too, which makes me think this dealer is trying to pull something on me. I called Hyndai Financial Services and they don't talk about their programs...you have to go through dealers.

I called another dealer and he was not aware of any program change, so maybe I just found a shady one.

 

[sandy]

I called another dealer and he was not aware of any program change, so maybe I just found a shady one.[/QUOTE]


If you don't want to name this dealer, where is the general location.

 

[Duaine]

Date: 9/17/08 (deal made just now getting it posted here)
Model: Genesis 4.6 w/tech pkg.
Color: Sterling Blue w/cashmere interior
retail: $42,000.00
cost: $39,000.00
trade: $16,000.00 (2006 Hyundai Azera Limited w/ 19,900 miles)
Diff: $23,000.00 ($24,500 down the road with tax, lic, and fees.

The above deal I made and of course now I wait for my Genesis to get in. My dealer wanted my Azera before it turned 20,000 miles in the worst way. In the mean time he is giving me a low mileage 2008 Azera to drive until my Genesis arrives.

While I hated giving my Azera up it helped get me a better trade to keep additional miles off my trade while waiting for my new Genesis. Also what the heck I now put miles on their car while I wait. To be honest for my area I have saw used 2006 Azera's like mine sell for as little as $16,500.00 I didn't think I would get much for my trade when the Genesis was discounted that much.

Anyway I have a friend who is the Hyundai sales manager. I have bought 6 Hyundai's from him since 2002. He always came through with the best deals for me in the past. Not this time however.........I was pushing for $24,000 down the road all taxes and fees included.

His final offer was $25,500 down the road............I said well I'll wait until there are plenty around and the possibility of rebates. He said well its up to you and said good-bye and hung up and went home because he was actually there after closing hours anyway.

It was very late around 10:00 PM when I got a call from the general sales manager. He asked would you be willing to do $24,500 down the road? I decided $500 wasn't going to keep me from getting the Genesis so I accepted.

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[pjkad]

Lease Price Change - the rest of the story

I visited the dealer to find out what the story was with my lease price change. In fact...there was a change in residual value for the v6 between August (when I placed my order), and September. It has gone from 66% to 63%. I saw the sheets from Hyundai Financial Services with the program. When my salesperson called me about it he was mis-informed when he told me 59%. But the $50/mo increase is in fact legit vs. what it would have been in August.
For anyone else who placed an order last month and got a lease price, and is waiting for your car...you better check with the dealer on what your Sept deal will be.

 

[milanmvd]

My Car details:

3.8L v6 premium package
Sale price: 32200 (MSRP 35,000)
Down: 12800, Balance financed
Dealer options: none, got iphone cable free (dealer offered lifetime oil change free but unfortunately I stay 800 miles away from the dealer)
Factory warranty
Blue with Black interior - loving it more than the Tan interior I earlier thought was good combination.

Can you pl. tell me how you got 1.9% finance as I also have excellent credit rating but no one is willing to go below 5.5-6% now-a-days.

MVD

 

[chuman]

"Can you pl. tell me how you got 1.9% finance as I also have excellent credit rating but no one is willing to go below 5.5-6% now-a-days."

Prior to labor day Hyundai had a special financing deal. I can't remember the details, but I think they had 3 levels of interest rates depending on how long you financed: 0.9%, 1.9% and 3.9%. Plus, you needed to have the good scores in order to get the rate they advertised. I took advantage of this and closed before the end of the special. Like you, I put some money down and financed the rest (I got the 0.9% over 48 months). It worked out to like $400 of interest (or something like that) over the life of the loan.

 

[musher51]

MVD -- per a thread on HMC interest rates a month or so ago, it appears that the very low rates were only available in selected states, although I don't believe HMC ever explained their rationale for determining which states got the most attractive rates. Here in MN, a 1.9% rate was available last winter when my wife bought a Sante Fe, but the dealer couldn't come close to that when I was buying a Genesis in early August, so I worked with one of my banks on a short-term loan (already paid off, happily). Obviously MN is not one of the states enjoying the sub-3% rates from HMC right now.

While there are clear advantages to working with a dealer close to home, you might want to do some research on rates available from dealers in nearby states. If they offer a significantly lower rate than your neighborhood dealer does, it may be worth it to cross a border or two.

 

[Jerrad]

Welcome to the boards milanmvd .

 

[Jerrad]

Here is from a previous post of mine, hope it is useful to you.

For what its worth to anyone that wants to save on financing. These are the states that offer low interest financing during 08/01/08~09/02/08.

The financing goes as followed:

Months 24-48 = 0.9%
Months 49-60 = 1.9%
Months 61-72 = 3.9%

The states that these rates are offered in are as followed:
Alabama
Arkansas
Louisiana
Mississippi
New Mexico
Oklahoma
Tennessee
Texas

 

[OneShot]

In order to get the special finance rates, do you have to live in the state, or purchase the car from a dealer in the state?

 

[KenT]

you have to buy the car in the state to get finance deals

 

[KenT]

it sucks though that especially in the state with probably the most car sales and activity- we were excluded from Hyundai's Low Interest Loans

especially when their headquarters is in the LA Area and if they were trying to sell for
example Genesis'- we would tend to be the ones to buy the most

for me I feel bad that if I decide to get one- i can not get the low rate- my Equifax FICO score is in the "top 1%" even

 

[Jerrad]

I hear you KenT, I am actually considering a drive to New Mexico when I decide to buy if I cannot get the dealers here in San Diego to get me a low APR.

Atleast if I buy it in NM I will have the break-in period covered (not to exceed 4k RPM or maintain a constant RPM for 600 miles)