Super Strong Genesis Lease!

[Sal Collaziano]

Viking.. Maybe EVH could give you a better deal altogether and ship it to you...

 

[carcapco]

Some more sad news for those of us interested in a white Genesis or a V6 Genesis with Nav. A dealer spoke with his regional manager to find out what it would take to get me a white V6 with Nav and was told the following.

Problem with the white paint - so they discontinued availability until they resolve the problem. Also,

As far as the Navi, the initial orders of the technology package far exceeded Hyundai’s initial expectations so they could not fulfill all the requests. During a mid-Genesis order the technology package was not available so they could “catch up” to meet the demand. The technology package was made available on the last order. Unfortunately delivery to the dealerships of the last order probably will not be until late August or early September.

If anyone has any info to the contrary - please let me know. Otherwise, I have to get something else as 8+ weeks is too long.

Sadly yours,
David

 

[EdVoylesHyundai]

EVH,

Anything you can find out about specific lease rates would be much appreciated!!!! The dealers in my area of MN just down seem to be up-to-speed on the lease costs. If you were in MN, I would be leasing my new Genesis from EVH.

Although I waffled on the Genesis after seeing the new 2009 Maxima, I am firmly back in the Genesis camp and am about 90% sure that I want to lease. I just want to know exactly what it will cost me for a Pack 4 V-6 as far as how much down and how much per month - so I can make an informed decision and pull the trigger.

Maybe they will offer a better lease here in MN -- to entice the stubborn Scandinavian heritage folks to overcome the concern about a RWD in snow & ice!!

The lease has been extended through July. It is a regional lease, so you have to go to Hyundaiusa.com and go to the "Financing" tab and click "Special Offers" on the drop-down. Then, put in your zip code and leave the model blank. If there is a genesis lease available for your region, it will appear. If there is not a lease, it should show the genesis with little dashes indicating there is nothing available. If nothing appears, then you did something wrong or the site is having issues.

The wording on the web is a little confusing. They say $2199 due at signing but then also $1800 down. You pay the down payment ($1800) plus your first payment ($399) at signing. That equals $2199. That's it.

 

[Viking]

Thanks, EVH -- I see it now. It also lists a $500 origination fee...

I wish it would be a little more specific -- like show what it will be for V-6 Pack 4 vs. pack 3 (maybe that won't be available until next month when the pack 4s arrive on the lots). Also it should show 24 vs. 36 month rates.

The only place I have seen anything very specific is your initial post!

 

[EdVoylesHyundai]

Thanks, EVH -- I see it now. It also lists a $500 origination fee...

I wish it would be a little more specific -- like show what it will be for V-6 Pack 4 vs. pack 3 (maybe that won't be available until next month when the pack 4s arrive on the lots). Also it should show 24 vs. 36 month rates.

The only place I have seen anything very specific is your initial post!

Since the lease is regional and not national, the best place to get that specific info is a local dealer. I can post up what the offerings are for our region, but it may not apply to you. Most manufacturers also apply the incentives based on the region you live in, not where you purchase the car. For instance, if New York had a stronger lease and I wanted to fly up there from Atlanta to lease the car, it wouldn't work. My lease rates would be based on where I live (Atlanta) not where I would buy the car. I will check with my region when I have the opportunity and let you know for sure. Again, this is practiced by most manufacturers, so Hyundai would not be unique in this regard.

 

[EdVoylesHyundai]

I apologize for the late notification, but the Genesis is officially here. Been really busy...

We got 4 on Thursday and have 15 more scheduled to arrive in the next couple weeks, all V6's and a few tech packs.

 

[Duaine]

Do you have any further updates as to when the V-8 Genesis will start showing up at the dealerships?

 

[Sal Collaziano]

Do you have any further updates as to when the V-8 Genesis will start showing up at the dealerships?

I'm hearing two different things right now.. Some are saying between 3 and 6 weeks. Others are saying late September or early October.. The actual delivery dates surely vary between dealerships. Those who sell more vehicles will get the v8 sooner...

 

[charliemike]

I'm going to drive one on Saturday!

 

[Sal Collaziano]

I'm going to drive one on Saturday!

Welcome aboard, CharlieMike! Thank you for signing up! Don't forget to tell us all about your Genesis test drive!

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Help support this site so it can continue supporting you!

 

[carcapco]

REALITY CHECK TODAY ON SUPER STRONG LEASE.

There are 2 (TWO) V6 Genesis with Tech Package cars in our town. This is amazing as Hyundai's regional manager called me 2 days ago to advise that there would be 1 car arriving in 2-4 weeks (that would be the soonest and the first) and he could not get more specific on their arrival. So I was elated to find out that there were 2 at another dealership in town.

I drove right over for a test drive and loved it. I then asked about the $499 lease on 24 months to which I was then told $865 per month with $2500 down. Hmmm, I thought - somebody made an error and after 15 minutes they apologized and presented me with $665 a month and $2500 down. I asked how this was possible and they seemed pretty confident that it was $665. They showed me a flier on the $399 a month lease for 24 months on the base model and I asked how much that would be a month (just for fun). It was just under $470 per month which had them confused also.

The magical answer is that the $399 and $499 nationally marketed lease by HCMC is based on a capitalized cost of INVOICE PRICE - not MSRP - which I know of no dealers participating in right now. They felt bad and ran the numbers at $1,000 below MSRP and we were over $70 a month apart - so we parted company.

I'm very very angry at myself for thinking that the nationally advertised lease was something Hyundai would actually promote and honor. I cannot fault the dealership at all for wanting to sell for more than invoice given that the car is so new. I'm just upset at myself for wasting so much time waiting for the car and not following through with the numbers beforehand to see if it is something that would be offered by anyone. While it may be - I don't know anyone who does. Barring a change of heart by a dealer - I'm off to the Infiniti, Lexus & BMW store this weekend.



Carcapco (Most Disappointed)

 

[BaywayRic]

REALITY CHECK TODAY ON SUPER STRONG LEASE.

Ouch! Here's what Hyundaiusa.com has to say:

Programs: Lease a 2009 Hyundai Genesis 3.8L V6 for $399/month for 24 months, $1,800 customer cash down plus $500 HMFC origination support, and $2,199 due at lease signing. See your local dealer for lease details. This program is effective from July 01, 2008 through July 31, 2008.

See your participating Hyundai dealer for more details on these special offers. Special limited time annual percentage rate (APR) available to qualified buyers on approved credit through Hyundai Motor Finance Company. May not be combined with other special offers except where specified. Only a limited number of customers will qualify for advertised APR or lease offer. Finance contract or lease agreement must be signed no later than July 31, 2008.

Not sure how a local dealer can "opt out" of a nationally sponsored program. I assume the funding for the program is coming from the 87mil launch budget.

Another great deal if there are any military folks out there:

If you are on Active Duty Status in the military or the spouse of someone who is you can receive an additional $500 off any new 2007, 2008 or 2009 Accent, Elantra, Tiburon, Azera, Tucson, Entourage, Veracruz, and Genesis OR $1,000 off any new Sonata and Santa Fe distributed by Hyundai Motor America. This program is effective from July 1, 2008 through July 31, 2008.

Active Duty Status should include any of you who might be in the reserves, but will be doing your 2 weeks ACDUTRA this month.

 

[carcapco]

Thanks for the verbage. Mind sharing exactly where you found it.

Thanks,

DAvid

 

[BaywayRic]

Thanks for the verbage. Mind sharing exactly where you found it.

Goto: http://www.hyundaiusa.com/

Across the top, left click on Financing and then Special Offers

Right under where it says "Currently Available" fill in your state, 2009 and Genesis and left click on Continue.

There you will see the Genesis offer for your state as well as othr offers [including military] across the black banner at top.

Under Genesis, left click either the V8 or V6, and you will get the page with the verbiage.

 

[Viking]

Carpaco,

That verbiage is from the Hyundai USA website. I can't help but think that the dealership you were dealing with is incorrect. I understand that not all dealers will offer the lease but there must be some that will.

I will tell you that if the lease comes out in the prices you referenced then I am absolutely out of the Genesis and back to looking again (maybe the 2009 Maxima). I really want a Genesis and the availability of the published lease is what sealed the deal for me.

I am test driving one in Bloomington, MN on Sunday at the Genesis Tour.

 

[Graycar]

There has to be more to the story or there won't be any 399 leases on the road. Matter of fact they will lose a ton of business by advertising this and ticking customers off when they cannot get the advertised lease price.

I am thinking that Hyundai is going to make up the difference to the dealer with some of the rollout dollars as someone above pointed out as a possibility.

It would not surprise me at all if the dealers have not been given any information on this...if true.

 

[Coug]

REALITY CHECK TODAY ON SUPER STRONG LEASE.

There are 2 (TWO) V6 Genesis with Tech Package cars in our town..... I drove right over for a test drive and loved it.

Carcapco, I know you are turned off by the lease issues with your dealer, but can you give us your thoughts on the Tech Package vehicle? I think you are the first one here that has driven one. What did you think of the:
Sound system?
Multi-media controller?
Reverse camera?
Parking sensors?
Cooled seat?

 

[carcapco]

Carcapco, I know you are turned off by the lease issues with your dealer, but can you give us your thoughts on the Tech Package vehicle? I think you are the first one here that has driven one. What did you think of the:
Sound system?
Multi-media controller?
Reverse camera?
Parking sensors?
Cooled seat?

The car was solid and as a prior owner of a Lexus and more recently an Infiniti M35X - this car handles right in between the two. More specifically, it was softer ride than the M35 which is quite firm while not as loose as the Lexus. It was certainly enjoyable.

Multi-media controller seemed far easier to use than the one on the M35.

The dealership simply game me the car and told me to go for a drive. Nobody asked for a license and they apologized that they could not go with me. No time limit, no route to follow as others seem to have been instructed to do at other dealerships.

I took the liberty of pairing my Bluetooth phone with the car and called a number of people to evaluate how it sounded. The sound from the person I was talking to was crystal clear and more importantly, I was being heard clearly - the recipient did not think I was on a speakerphone let alone in a car. Usually (on the M35X) - people thought I was in a tunnel under water and could easily tell I was on a speakersphone - the sound was that bad. Given the new state laws that are growing in popularity about banning use of a cell phone while driving unless a hands free device is used - this is a nice feature and definately a plus.

Reverse camera is nice; however, it only tells you where you are as opposed to other camera's that overlay where you will be going (path - a curved line)if you keep the steering wheel turned at a certain angle. Don't get me wrong, I'm very happy that it has lines that tell you where you are - I was just spoiled before. The worst (I think) is the Lexus camera that just shows an image - no lines identifying where the car is or is going. These lines make backing up into a garage or parking space easier - that's all.

Was not sure how to operate the parking sensors. There was a button to the left of the steering wheel that activates them (toggle switch) but I was not able to see them in action. I'm sure this is a feature that can be tailored from the car settings menu.

Cooled seat was nice. What was interesting is that it was 95 Degrees and the car is black with black interior and it cooled very quickly. So I'm not as opposed to the black as much as I was before.

In summary, the car was a joy to ride. The trunk seemed larger than I remembered it as did the back seat. The sound system was wonderful. No rain so unable to test water repellent windshield or automatic wipers.

Hope that helps.

I'm going to call a few other dealerships to inquire on the Lease along with Hyundai Financing to see if the dealer made an error (due to lack of education) as several of you have kindly suggested (thank you for that) and will post any positive findings.

 

[carcapco]

Taking the advice of my fellow Genesis enthusiasts who replied to my initial Genesis quote I just spent the last hour calling dealers that I know have the Nav 4 car (easy to find as they have them listed on ebay). I found one dealer who was terrific. He outlined the $499 lease program on the Nav 4 car. It is as follows:

$2179 due at signing. Includes first month and down payment. Does not include Tax, Tag, etc.

There is a $500 HMFC program that helps reduce the cap cost down to $37,155.73. So the dealer is selling for $37,655.73. MF = .0008 for Tier 1.

He was very familiar with the program and while he said dealers do not have to follow the programs - they do because it makes for happy customers and or course - repeat customers. Their guideline was that if the program is national by Hyundai - then they follow it. He would sell me the car today at those quoted prices.

So, I cannot guarantee the accuracy of the numbers but have no reason to disagree with them either. This was from the finance manager of the dealership.

So while I am unable to blame a dealer for sacrificing profit to stick with a national program; I can say that the dealer who does is one that is earning my business for now and in the future and one that I would recommend to everyone. After all, money is made over a lifetime - not on one deal.

So there is hope. Unfortunately, this dealership is a little farther away than I would like.

 

[Viking]

I have to second Carcapco's experience... I just spoke to a Hyundai dealership in Minnesota that also confirmed the details you just posted. Only problem is that we don't have the Tech 4 packages yet.

I wish the Hyundai USA website posted inventory at each dealership - like Nissan's website - so I don't have to keep caling.

As soon as they get the V-6 Tech 4 package in the color I want I will be sitting in a new (albeit leased) Genesis!!