Satisfied Customer: Just got my 2nd Genesis

[jpq1999]

I had originally gotten a 2009 4.6 Titanium/black on 12/30/08, and my 27 month lease was up in a few days, after putting on 32,600 stress and trouble free miles. Drove home earlier tonight in a 2011 in the same configuration/color. Really thought about waiting for the 2012 and/or R-Spec, but timing wasn't right.

Already ordered my badges (didn't want to try & remove them). Swapped the wheel caps back to the "H" ones, as well as the steering wheel emblem. (Dealer wanted $200 just to put badges on, told him I'd pass).

I've never been more satisfied with a car in my life. Hoping I have the same luck w/ #2!

 

[BacktoHyundaibychoice]

Great!

 

[imaphaetonguy]

Sweet!

I've got an '09 3.8, and am very tempted to also get a 2011 4.6. Some great deals out there NOW on them.

 

[Ruissimo]

Wait, you rebadged the leased car? Did they give you a hard time when you handed it back to them? Also... did you lease the 2011 too?

 

[maxpowers]

Why does it seem everyone is leasing these cars? Don't you want to own it?

 

[BacktoHyundaibychoice]

Why does it seem everyone is leasing these cars? Don't you want to own it?

I ask myself this:
Would I buy a house for $400K knowing that in 5 years it will be worth $200K? And out of "builders warranty"?
A wise old man told me it's best to "rent" 3 things:
Housing, cars, and women.

My humble opinion.

 

[TJPark01]

I ask myself this:
Would I buy a house for $400K knowing that in 5 years it will be worth $200K? And out of "builders warranty"?
A wise old man told me it's best to "rent" 3 things:
Housing, cars, and women.

My humble opinion.

No offense but that is a silly argument. You're comparing and asset with an expense. An asset has the potential to go up, down or stay flat in value. A new car will always go down and rapidly. The only way leasing makes sense is if you can offset the cost as a business "expense". Otherwise all you're doing is chucking money out the window. Which is fine if your name begins with Lord, or Sheik, or if you have a fixed income from retirement money that allows you to do this and wish to enjoy the fruits of your labor. The reality is that the majority of people do this because it allows them to drive a nicer car for less money up front, but the reality is that it's a merry go round; a never ending expense, that ends up costing you much more in the long run.

 

[Ruissimo]

I would agree that leasing isn't always the best option... unless you drive cars that depreciate very little (and thus have low monthly payments). This way, you're driving a new car every couple of years, and have absolutely ZERO maintenance costs.

It may not be the best thing FINANCIALLY, but you must also consider your "time-value of enjoyment", if there is such a concept. I can tell you that personally, I would *LOVE* owning a new car every 2 or 3 years, unfortunately, I drive them for 10. There is nothing like the feeling of driving a new car the first few months...

Anyways, back on topic for me... JPQ1999, can you describe some of the things that have improved for you going from an '09 to an '11?

 

[jpq1999]

Ruissimo:

Leased the '09. Inspection dinged me for $400: $220 for front bumper from scraping concrete parking barrier, & $180 for stupid weatherstripping that split (didnt even see it). Also over on mileage by 3k. I got the $200 for the stripping off the new car. SGS is TOUGH on inspections, fyi.

Took wheel caps & steering wheel badge off before turning in. Wasnt going to bither scratching car. Dealer wanted $200 to badge only. I ordered last night from KDM for $34.

Sp far, in 50 miles of driving, the ride feels smoother, either new tight suspension, slightly fixrd, or fact it never bothered me as much as some.

Phone address book automatically dumps in, but names don't always match up w/ how they are entered on phone, so wgen you verbally"call" someone, it might nofind it t
sound system: new lady doing commands, sounds like a bitch . call history is now all calls, not categorized (missed, dialed, etc)

volume is different. In 09,.max was 35, & 26 was ear shattering. In 11, max is 45, & max is loud, but tolerable. Equalizer function is gone (classical, custom, rock, etc). Can still adjust treble, mid, bass, but not same for all.

The new adaptive cruise conyrol seems good, but have just srarted using it. Did discover you can't set cruise while Esc" is off.

I leased for 36 months & 15k miles for a little over $500/month. Put $1500 down (1st, taxes,fees, etc). A 36 month loan at .09% was $1,050/month

Sorry if this is disjointed. Getting tint done & typi.g on ny cell

 

[TJPark01]

If you are talking about personal use here is a simple explanation as to why it makes no sense:
*If you lease a V6 Genesis for $500 a month for 36 months, no money down. (which is about what it costs), you would have spent 18 grand at the end of the lease terms.
* Now you return the car, you have to lease again. Say you do the same thing, 500 a month 36 months and get the same results. Well now it's 6 years later and you have spent 36k to lease two cars, and you still are left with no car, so you have to lease another one. Endless cycle....
*If you took that same 500 a month and financed (at basically 1% now)a car, you would have it paid off after 6-7 years, effectively ending payments. Now you have the option of selling the car, and getting some money back or driving the car with no more payments. With the lease you have no option. It either lease again, or take the bus.

**One of the few ways it makes sense is if you can write off the cost of the lease as a business expense (assuming you use the car primarily for business). Purely from a long term monetary perspective leasing is not a good decision. But is 6 years really that long? Sure if you like the new car smell every 3 years, that's great, but you're paying a massive premium to do it. In terms of maintenance, the odds of you having to spend some exorbitant amount of money to maintain the car is unlikely. Even if you allocate $500 a year on maintenance post warranty, you're still coming out way ahead. Leasing versus buying is not black or white. It really depends on your situation. One thing I will say about buying or financing a car is:
If you finance a vehicle and continue to drive it once it's paid off. The money you would be spending on car payments can be allocated towards other things, so there is an opportunity cost to leasing a vehicle for personal use as well.

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[jpq1999]

@TJPark:

Granted, from a strictly financial standpoint, leasing is many times the better option. However, like others said, cars CAN be an emotional purchase. I drove a 99 Avalon XLS for 170,000 miles before i got the 09 Genny. I had it repainted, let alone other mechanical/aesthetic fixes, yet my wife was still embarrassed to drive w/ me (Nercedes owner: go figure-lol).

After I make my 36 payments & pay roughly $20k, I can pay $22,800 if I want & keep it. That means I "test drove" my car, saved a boatload of monthly payments, then essentially paid $1k under sticker 3 yrs later to own it outright. I decided I didnt want to buy the 09, but may very well buy the 11 in 3 yrs

 

[jpq1999]

Would I buy a house for $400K knowing that in 5 years it will be worth $200K? And out of "builders warranty"?

A wise old man told me it's best to "rent" 3 things:

Housing, cars, and women.

As a FL resident who's house dropped about $400k in value in 3 yrs, I don't know whether to agree or cry

 

[TJPark01]

@TJPark:

Granted, from a strictly financial standpoint, leasing is many times the better option. However, like others said, cars CAN be an emotional purchase. I drove a 99 Avalon XLS for 170,000 miles before i got the 09 Genny. I had it repainted, let alone other mechanical/aesthetic fixes, yet my wife was still embarrassed to drive w/ me (Nercedes owner: go figure-lol).

Cars are very emotional things, especially for guys. Like anything done for love, it always ends up being expensive. I'm an original owner of a 1995 LS400, that I simply can't part with. I've done all the maintenance with my own hands and I know what is what with the car. It's also been bullet proof and runs flawlessly, so I drive it till it dies. It's been relegated towards beater status, but like the donkey or the redheaded step child, no matter what you do to it, it never fails or complains.

 

[GenesisSedan]

hyundai has never seen such a high rate of returning customer before. this is great.

maybe a 2012 Genesis for me

 

[TJPark01]

hyundai has never seen such a high rate of returning customer before. this is great.

maybe a 2012 Genesis for me

Customer retention rate is the highest it's ever been for Hyundai and Kia; rivals some marque name plates.

 

[jpq1999]

Customer retention rate is the highest it's ever been for Hyundai and Kia; rivals some marque name plates.

That chart is great news for Hyundai. Interesting to see Acura, & especially Infiniti's numbers. Two out of every three Infiniti owners bought something else the next time they bought a car? Wow. (Never owned either brand myself)

 

[Informatics]

I'll be honest, my wife fell in love with Hyundai when I got my Genesis but she is the hybrid type (Buick Enclave). I bet we will have 2 Hyundai's in the near future.

 

[mikec]

A couple of comments/questions on that J.D. Powers Customer Retention Rates chart:
* Interesting how high Honda is compared to sister Acura. Same for Nissan-Infiniti. Perhaps high-end buyers as a whole are less brand loyal? Heck, even Ford-Mercury shows this trend. Only Toyota-Lexus bucks the trend.

* I wonder how that chart would look if the big-three American companies had their pickup truck data removed from that chart... my personal experience is that pickup owners, as a group, tend to be far more vocal brand loyalists than car owners. (especially Ford & Chevy truck guys)

I'm surprised Mitsubishi is as high as it is... I know of NO repeat Mitsu owners among my friends and co-workers. Mitsu dealers and Mitsu corporate as a whole are miserable to deal with; folks don't make the same mistake twice. I certainly won't ever consider anything Mitsu again.

I'm going to try to find previous year versions of this chart... it'd be interesting to see how Toyota/Lexus looked a few years ago... and it'll be interesting a few years from now after their recent debacles.

Friend and co-workers know I'm a car nut and follow the industry and go to the LA Auto Show regularly - some have gone to the show with me to "learn" as they put it. When asked for advice, I used to tell people "any Honda or any Toyota that you like will likely be a good, reliable car." For the last handful of years I've been saying "any Honda, Toyota, Subaru, or Hyundai" though recently Toyota has fallen off that list - not from the recalls but from the general "cheapening" of their cars as a result of cost cutting and de-contenting. A co-worker had a late 90's Camry and really liked it (bought it used, gave it to his son) and replaced it with his first new car - a 2007 or so Camry. The new one is MUCH louder while driving - he's really disappointed in it. He likes my Genesis a lot more and is looking at swapping the Camry for a V6 Genesis when he retires in a few months.

mike c.