Purchase Details so we all can prosper!

[bilmat]

Did you happen to pick up the $500 voucher while you were there?
That would have saved you alittle more money.

Never heard of the voucher until the other day when someone mentioned it in another thread. Assumed he was military as I recall reading somewhere that Hyundai was offering active military personnel $500 off on new purchases. Might be that the Hyundai rep I spent 20 minutes talking with at the auto show figured I was sufficiently hooked and that she would save her company five bills. Bitch! () Whatever the case, it's water under the bridge, and I more than got my money's worth as far as I'm concerned.

 

[JayJay]

Just wanted to say that I walked out today on a Hyundai dealer. I was there for 5 hours. Negotiated with them a silver, black interior V6 w/ tech package. They would NOT go below 620 a month with GAP and 100k bumper to bumper. Without either of those they said the lowest they would go is 600. I said 600 with both and I would take it. (My interest rate was almost as low as it goes, perfect credit, etc) They didn't even give me the lease option because they claim its almost impossible to get now. I'll be checking a new hyundai dealer on monday. What do you guys think?

 

[Mark_888]

Just wanted to say that I walked out today on a Hyundai dealer. I was there for 5 hours. Negotiated with them a silver, black interior V6 w/ tech package. They would NOT go below 620 a month with GAP and 100k bumper to bumper. Without either of those they said the lowest they would go is 600. I said 600 with both and I would take it. (My interest rate was almost as low as it goes, perfect credit, etc) They didn't even give me the lease option because they claim its almost impossible to get now. I'll be checking a new hyundai dealer on monday. What do you guys think?

I would get my own financing and deal with them on that basis (basically the equivalent of a cash deal as far as the dealer is concerned). If you have excellent credit, you should be able to get a loan at a bank or credit union. It used to be that the best interest rates could be had at a credit union, but I don't really know if that is still the case after the recent banking crisis.

My understanding is that they are not going to negotiate as much on a car with the Tech package due to high demand, but it probably varies from one market to another.

 

[JayJay]

I would get my own financing and deal with them on that basis (basically the equivalent of a cash deal as far as the dealer is concerned). If you have excellent credit, you should be able to get a loan at a bank or credit union. It used to be that the best interest rates could be had at a credit union, but I don't really know if that is still the case after the recent banking crisis.

My understanding is that they are not going to negotiate as much on a car with the Tech package due to high demand, but it probably varies from one market to another.

Thanks! I may consider that. I am also going to start checking out prices on a V8 tech package, it seems like that may come to the exact price as a V6 tech/premium. I also really wanted to lease it, so maybe the other dealers will work with me on that. I see people here getting 400-600 a month leases in the last few months so I see no reason why I shouldn't be able to score the same.

 

[DanTheMan]

One thing we CAN disagree about is Dianna Krall...
;-)

Her sultry jazz voice along w/her piano stylings are GREAT driving music....I hope you come around to my way of thinking! (Just kidding)!

Enjoy the car...and whatever music you prefer!

Dan :>)

 

[claytron9]

In Northern VA.
Purchased 4.6 Sedan, with Tech. $38,850 for EVERYTHING (no taxes, tags, misc fees, etc...).
Black on Black (I wanted Black Ext, didn't care about interior, and always easier to get what is on lot).

I then decided to Lease it for 27 months -- the reason is for taxes (I own a company and charge the car through that way, it's a long story...). The gotcha on this, is that the residual is on MSRP, not on the negotiated rate -- that only impacts your payments.

So... they whore you that way.

That said, it's a nice car. My 8 year old 740iL blew up, and I didn't want another BMW (it costs $3K just to look at it in a garage). Soooo, here I am at Hyundai. Good luck out there.

 

[bpajax]

I then decided to Lease it for 27 months -- the reason is for taxes (I own a company and charge the car through that way, it's a long story...). The gotcha on this, is that the residual is on MSRP, not on the negotiated rate -- that only impacts your payments.

So... they whore you that way.

Actually it's to your advantage for the residual to be based off of the MSRP and not the negotiated price - it results in a higher residual that way and a lower payment.

 

[claytron9]

In reply to, "Actually it's to your advantage for the residual to be based off of the MSRP and not the negotiated price - it results in a higher residual that way and a lower payment. "

I understand this sentiment, but it's wrong for my given circumstances. I apologize for the long windedness of this...

1) I own a company. Any salary I take is taxed, let's assume, at 36%. So if I want to pay myself $100, I need to pay myself about $136 (assume the math works, it's not quite exact, but illustrative). And again, assume I pay myself at the top tax bracket. Conceptually.
2) If I take that same $136 and apply it to a legit business expense, in this case a lease --> it's pretax. So it would be like paying myself $172 (less "about" $36 for taxes).
3) Now at the end of the Lease. I really like this car and want to buy it. I've had it, it smokes, I've taken car of it. Do I want to pay more or less of my personal money? I want to pay less. So I would want the residual to be more -- or the value less.
4) So conceptually, I want to say I'm driving the max miles (only 15K with Hyundai which is a different issue -- though really it will be MUCH less) to drive my monthly payment up, and the residual down, so that (again, in theory) I can purchase an excellent Hyundai Genesis with maybe 10 or 15K miles in total for a bargain payment of maybe $20K. With a "higher" residual it actually costs me more money at the end.

Don't get me wrong. Your statement is may generally be right for people who aren't going to purchase, but that is NOT my situation. This may change, so who knows.

 

[DieselHybrid]

I apologize for my "newbie" question, but I searched and couldn't find a decent answer- so here it goes:

Purchase or Lease for a BASE (no options) 3.8 Genesis Sedan:

Purchase:
Negotiated price: $29,500 (USAA discount -includes military discount)
taxes: $1,775.94
Govt fees: $274
Dealer fee: $99
Amt financed: $31,648.94
$3942.06 down payment
5.5% over 60 months: $529/month to buy

or

36 month Lease:
Negotiated price: $29,500 (includes military discount)
taxes: $1,775.94
Govt fees: $274
Initial Payment: $2,918.06 (includes Hyundai's $1000 rebate + first payment)
Residual: $16,219 (***seems low??***)
max mileage: 12,000 miles per year
monthly payment: $418.06/month to lease

Not exactly the $399/month deal they advertise. I suppose I need a bigger downpayment.

Bottom line, I have never even considered leasing before. Is this a good lease deal?
Which is the best option?
Any help would be appreciated.
Thanks in advance!

 

[wayoutwest]

The $399 is before tax, so you are actually getting a better than the advertised deal. (Depending on your state sales tax).

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[sandy]

Leasing is usually a good deal if you are sure you can stay within the milage allowance. A major advantage of leasing is you pay sales tax only for the months you lease the car. In your example, you show sales tax of $1776 when you purchase (so I assume your state sales tax is 6% as 6% of $29,500 is $1770).

If you lease, DEPENDING ON THE STATE, the sales tax is added to the monthly payment. So, if your monthly payment was $399, you would add 6% or $24. Your total sales tax would be $24 x 36 or $864...a big savings. Again, this varies by stgate. Tghat's how they do it in Ct.

The residual sounds about right.

I'm not clear on what's included in your initial payment of $2918. Part of it must be for a down payment or what they call a Capitalized Cost Reduction. If you are putting down around $2000 the monthly payment seems high.

 

[ChipD1]

Date: 21 March 2009
Model: 3.8 Premium Plus
State: Florida
Buy/Lease: Buy
Final Negotiated Price on Sales Invoice*: $32,775
If lease:
Term
Monthly payment dollars
Down Payment $ Amount: $15,000
Rebate:0
Dealer installed options $ Cargo Mat, Net, Ipod cable.
Warranty or Protection Plan $ & Years


V6 Premium Plus

 

[Dimitry]

I apologize for my "newbie" question, but I searched and couldn't find a decent answer- so here it goes:

Purchase or Lease for a BASE (no options) 3.8 Genesis Sedan:

Purchase:
Negotiated price: $29,500 (USAA discount -includes military discount)
taxes: $1,775.94
Govt fees: $274
Dealer fee: $99
Amt financed: $31,648.94
$3942.06 down payment
5.5% over 60 months: $529/month to buy

or

36 month Lease:
Negotiated price: $29,500 (includes military discount)
taxes: $1,775.94
Govt fees: $274
Initial Payment: $2,918.06 (includes Hyundai's $1000 rebate + first payment)
Residual: $16,219 (***seems low??***)
max mileage: 12,000 miles per year
monthly payment: $418.06/month to lease

Not exactly the $399/month deal they advertise. I suppose I need a bigger downpayment.

Bottom line, I have never even considered leasing before. Is this a good lease deal?
Which is the best option?
Any help would be appreciated.
Thanks in advance!

The going residuals for the V6 is 49%, and V8 are 47% regardless of tech or not. That is a prudent residual.

They will usually in very small print somewhere after the advertisements "WALK OUT WITH A GENESIS FOR 399.99 A MONTH!"
Subject to Tax, Title, Licence and other dealer fees with a 3599 down payment

Did you, or anyone for that matter, get the interest, or money factor rate that is being offered by Hyundai this month?

 

[ppug]

A local dealership had the following on their internet site... looks like a mistake?

2009 HYUNDAI GENESIS 4.6L V8 $29,454

http://www.rohrman.com/inventory/usedcars/inhy/KMHGC46F39U041555

What do you think?

 

[warp08]

A local dealership had the following on their internet site... looks like a mistake?

2009 HYUNDAI GENESIS 4.6L V8 $29,454

http://www.rohrman.com/inventory/usedcars/inhy/KMHGC46F39U041555

What do you think?

I think this is definitely a mistake. It could be a valid price for a base model, but that's not what's pictured there.

 

[moose66]

Probably should have been a 3 where the 2 is in the price. That would be more in line with what the expected going rate is for a V8.

 

[xactstep]

The website www.truecar.com seems to give actual sales data based on zipcode.

 

[ilovemygenesis]

Date - April 30
Model - 3.8 with Technology
State - NEW YAWK!!!!!
Buy/Lease - Lease
Final Negotiated Price on Sales Invoice* - $37,600
If lease:
Term - 36 months
Monthly payment dollars - 370.06
Down Payment $ Amount - $5,100 with $2,100 down and $3,000 trade in
Rebate - $1,000
Dealer installed options - None
Warranty or Protection Plan $ & Years - standard

 

[jggann]

Date- May 29, 2009
Genesis V8 (NOT tech package)
A few extras such as wind deflector for sunroof, pinstripes, locking wheel hubs
620 miles on odometer
sold as new
$35,000 + @1600 tax, title, blah blah blah
Financed 100% at 2.9% for 60 months
very happy with car so far

 

[ashwinaru]

Genesis Sterling blue 3.8 tech pkg (15-20 miles)
approx 36,200 for the car
tax 6% title tag dealer fee etc 2800
out the door 39,000

Included badge changes (provided them), cargo net, ipod cable, wheel lock, mobil synthetic oil (6 qrt in box not changed), dealer ordered 4 chrome strips for the door (like 4.6) to be home delivered. Purchased FL