Resale

[salvo]

Just read new auto magazine and it stated 5 year resale value for 1st generation Genesis was only 41% as compared to 46-48% for other luxury cars...
Does anybody have any comment about that or just in general about retained value of Genesis...Thank you...

 

[bmbutler]

From what I have encountered, that is exactly right.

 

[kev4]

If you are investing on the average 13000$ less for what many have said to be the same or better quality of car, then the re sale loss because of the BRAND name of the car is less, have you not saved in the original purchase price.

If you invested that 13000$ for five years it would increase the re sale reality to closer to its competitors. Five year GIC @ 3.5% = roughly $2000 in interest return. If you invested that 13000$ in Facebook shares it would of more then double. If you invested it in an update in your homes bathroom or kitchen etc etc etc.
Just my opinion
Kevin

 

[salvo]

Even if save 13k upfront when car is sold the extra 5 or 6 % depreciation is on total price paid initially so difference between is much less...
i.e.--Sale of Genny at 5 years with 41% retained value would be 45k x 41%=18.5 K...
For a BMW initial cost 58k x 47% retained = 27.25K----So difference in cost of ownership only about 4k between BMW and Genesis...For less than $1000 a year get to own the true luxury vehicle..Really wonder if worth giving up status of true luxury car for that small a difference???

 

[Alwaysforward]

The maintenance cost is what gets you after your warranty expires on the luxury cars from what I have been reading on here.

 

[ksoze]

..Really wonder if worth giving up status of true luxury car for that small a difference???

Not sure if the gap is that small a difference. KBB has a cost of ownership which takes into account depreciation, but also gas, maintenance, financing, etc. As an example, a 2014 Genesis 3.8 total cost over 5 years is $58,435 ($0.78 /mile) and a BMW 535i is $74,457 ($0.99 /mile).

http://www.kbb.com/new-cars/total-cost-of-ownership/

 

[PMCErnie]

Just read new auto magazine and it stated 5 year resale value for 1st generation Genesis was only 41% as compared to 46-48% for other luxury cars...
Does anybody have any comment about that or just in general about retained value of Genesis...Thank you...

I thumbed through the same magazine very quickly yesterday at Barnes and Noble. If you want to start a real discussion, how about giving the name of the magazine? Also, give the names and ratings of the specific cars you are referring to. By the way, the first gen Genesis was never ranked as a luxury car. Near-luxury was the oft-used appellation.

 

[LA Genesis]

Im looking at a Lexus GS350 with an MSRP of about $58,000 and a 3.8 with an MSRP of about $50K. I keep my cars for 4 years. It seems to me the Lexus will only cost a little bit more to own due to its better resale value. I'm torn between the two.

 

[jjsC6]

Im looking at a Lexus GS350 with an MSRP of about $58,000 and a 3.8 with an MSRP of about $50K. I keep my cars for 4 years. It seems to me the Lexus will only cost a little bit more to own due to its better resale value. I'm torn between the two.

I've run the same info on those two cars a few others. That is good thinking. The other side of the coin is that we are using resale values of the first generation Genesis. Who knows whether the new generation will have better resale value or not, but there is a good chance it will. But we can only guess at it for now.

 

[keithl]

I have traditionally bought cars I think will hold decent resale and then leased cars I was unsure of. Since I get the itch frequently when I check out the Genesis I would likely lease it to have a known end date. I did that with my Infiniti, which worked out because the M37 resale was horrible. I bought most of my Acuras and my recent A6 as the A6 has predicted good resale.

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[salvo]

just got Genesis 2015 tech package and has some rattles and engine not as solid as would like it to be...
Question how can I lower volume on Chimes and Beeps...also the interior overhead light at night is like a spotlight can the brightness be controlled...Thanks, guys...

 

[ASHDUMP]

A car you own is a car that has the most resale value....

 

[DFWGenny]

I drive a car long enough that resale is not an issue.

 

[Alwaysforward]

I drive a car long enough that resale is not an issue.

Ditto. I drive my cars 10-12 years. The longer you can drive a car without car payments, the more money you will have saved up for your next car or for whatever else you might need.

 

[LA Genesis]

I normally keep mine 4-6 years but got the bug this time after 3 years.

 

[Midnightsun]

Ditto. I drive my cars 10-12 years. The longer you can drive a car without car payments, the more money you will have saved up for your next car or for whatever else you might need.

Then you made the right choice as no way could you keep a German brand this long, the maintenance costs would drive you to the poor house after warranties expire. I change quite often so I am not affected but for a daily driver and someone who want to hang onto their car for long term I really would stay away from the smaller displacement turbo charged units, they just do not make it in the real long run.