What did you pay for your Genesis G80?

[EdP]

Sure - https://www.rickcasegenesisatlanta.com/
To further clarify what I said - when I meant Nationwide, I meant that Rick Case Auto is very common dealership. I don't actually know if they are in every state but I do know that they are common in Georgia and Florida.

Looks like 16 dealerships. Not the biggest, but certainly a lot of them around FL and GA. As for the deal, I've heard of things like that over the years. Right car at the right time.

 

[Gsxr150]

Thank you for apologizing. One thing you have to realize is that is a fantastic car. From my research, the Genesis does depreciate faster than some of the other luxury brands, but that is expected out of a new brand such as the Genesis.

What you have to figure out is the deal that I got is the norm or not. My thoughts - I just got lucky to get a hell of a deal and IT IS NOT THE NORM. I really doubt you'll find too much 2018 Genesis for that much off MSRP. I have seen two other 2018 G80 Sports (used) with low mileage. Both were close to 50-51K according to TrueCar. For the 40k range - you might be able to get a used 2017 Genesis 5.0 (https://www.truecar.com/used-cars-for-sale/listing/KMHGN4JF9HU174983/2017-genesis-g80/).

Hope this helps and again, please don't let this sway you from buying a Genesis. It really is a fantastic car!

Your right, it's an awesome car. I have a 2015 and absolutely love it. You got a rockstar deal no doubt about it, but based on this and a few other deals I think the best case for me is to hang tight until I find a sweetheart deal as well. That depreciation is a tough pill to swallow, but not if you find an awesome deal it appears. I am going to spend a little more time comparing to other cars like the Volvo S90 and E-Class and see how the deals look.

 

[BrazGenesis]

It always depends on how you define the depreciation. My 2015 G2 was leased with a HUGE discount. The residual value is 24.7K.
I am thinking about purchasing the car. Low price used to lease, more than affordable residual and the opportunity for an extended warranty that provides long life for the car at a VERY low cost of ownweship. On the other hand, the MSRP vs 24.7 looks like a scandal...
PS: In September the car will have 13K miles.

 

[tissle]

It always depends on how you define the depreciation. My 2015 G2 was leased with a HUGE discount. The residual value is 24.7K.
I am thinking about purchasing the car. Low price used to lease, more than affordable residual and the opportunity for an extended warranty that provides long life for the car at a VERY low cost of ownweship. On the other hand, the MSRP vs 24.7 looks like a scandal...
PS: In September the car will have 13K miles.

It also depends on how long you will have the car. I will NOT buy a Genesis new if I was planning to keep it only for a few years.
I plan to keep my current sport for the next 6-10 years.

 

[rickkapur]

Thank you for apologizing. One thing you have to realize is that is a fantastic car. From my research, the Genesis does depreciate faster than some of the other luxury brands, but that is expected out of a new brand such as the Genesis.

What you have to figure out is the deal that I got is the norm or not. My thoughts - I just got lucky to get a hell of a deal and IT IS NOT THE NORM. I really doubt you'll find too much 2018 Genesis for that much off MSRP. I have seen two other 2018 G80 Sports (used) with low mileage. Both were close to 50-51K according to TrueCar. For the 40k range - you might be able to get a used 2017 Genesis 5.0 (https://www.truecar.com/used-cars-for-sale/listing/KMHGN4JF9HU174983/2017-genesis-g80/).

Hope this helps and again, please don't let this sway you from buying a Genesis. It really is a fantastic car!

For what it is worth, in May 2015 I was able to get a 2015 V8 5.0 (normal with Tech pkg; not the Ultimate trim) for $40,200 plus tax from an out of state dealer...it was not a norm as MSRP was $52,500, and local CA price offer to me was about $48K. Again, not a norm...just being in right place at the right time, and getting lucky. After I got the car, and looked at the paperwork, they used something called Circle E Pricing and the car showed at actually $38,700, with $1500 add-on's from the dealer (read margin)...so they made their $s, and the price reduction was eaten by Hyundai Corp. Seems that this was the last RWD 5.0 on their lot in the NW, and customers in that area were predominantly AWD customers; so I got lucky (did have to fly in and pickup the card and have a very nice drive back of about 650 Miles.
So, it is luck of the draw in some small number of cases.

 

[Mark_888]

Ah, your post reads " 2018 Genesis G80 Sport for 43.5k OTD (includes taxes, fees, and 1.5k trade in value). The car was used a display car for executive showroom and only had 75 miles!" OK, based on that math your're at a sale price of about 42K + plus taxes and fees, minus trade, to fall around 43.5. I'm not so much questioning the good "deal", however I am certainly questioning the horrendous depreciating that is happening here. A 56k+ sticker, and 75 miles later a dealer is willing to sell a "demo" for very low 40's? I thought you were spamming the board - but I apologize. I'm shocked at the ultra low price, but if you're getting this "deal" it's likely others may be as well. Any buyer paying over 50K could be a complete idiot based on this depreciation level.

Once a car is titled, then it is a used car when sold again, regardless of the number of miles on it. The HMA (Hyundai Motor America) cars used for executives, or for golf tournament courtesy cars, or for car shows, etc, were apparently titled to HMA, and then resold at auction. HMA is a distributor owned by the manufacturer, and not a retailer, so I don't think they are allowed to have demos like a dealer can, since they are not allowed to sell cars to the public (only to dealers).

I remember back in 2009, a guy on this forum bought a Genesis and drove it home, and discovered that the suspension was way too stiff and bouncy on rough roads (it was). The problem did not show up on smooth roads used for the test drive. He went back to the Hyundai dealer a couple days later and sold it back to them for $7K less than he paid. He bought a another brand somewhere else (I think it was a MB or something). He wasn't happy, but he could afford to take the $7K hit.

So there is a huge difference between the market value of a used car, and a demo, even if they both have the same number of very low miles on them. That's just the way the business works.

 

[Mcc]

I agree with Mark_888’s explanation. It seems the confusion stems from readers assuming the demo was sold as a new car when in fact it “seems” to me it was titled as a used car. If I got that wrong I am sure someone will correct me. So the depreciation (If that is what you want to call it, but it’s really just a discount) came from going from new to used. Not terribly surprising and since it was owned by Hyundai with only 75 miles still a pretty good deal (and still a used car).

 

[BrazGenesis]

Totally agree.
No doubt it was a great deal.
Currently this group shows clearly that the deep "pure discounts" practiced at the end of G1 and stabilization of G2 are no longer that big. This can be validated with Truecar. (not perfect but a good starting guide)
I am totally aware that I will NOT be able to get the advantages I got in Sep 2015 in Sep 2018...

 

[wakame]

Went through the Hyundai circle and got 52k for the G80 Sport. Got a call about 15 mins later from the finance guy and said that it is invalid and they can only sell me the car at listed price (56k) or his dealership could lose the license. I laughed and told him good night. Anyone get their quote through Hyundai circle?

 

[GV70GUY]

Went through the Hyundai circle and got 52k for the G80 Sport. Got a call about 15 mins later from the finance guy and said that it is invalid and they can only sell me the car at listed price (56k) or his dealership could lose the license. I laughed and told him good night. Anyone get their quote through Hyundai circle?

I got 2 dealers giving me a price just under $52K without Hyundai circle for G80 Sport AWD.

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[GV70GUY]

I got 2 dealers giving me a price just under $52K without Hyundai circle for G80 Sport AWD.

Well I put a deposit down for a G80 Sport AWD (they now have to go find my color) price was $52,511 OTD. So I think I did ok.

 

[silvius]

Lets all remember that there is no way we can know for certain who bought what at which price. This is a community folks, lets start acting like it. Lets please move on from this discussion with a friendly handshake and agreeing to disagree. If anyone feels otherwise, please feel free to reach out to me directly.

Thank you.

Unless of course they post their complete sales invoice with their personal info covered up or blocked out. So, I wouldn't agree that there is 'no way we can know'. Unless posting that is prohibited on the forum. Is it?

- - - Updated - - -

Also, TrueCar is not a reliable source. Dealer networks long ago started getting their paws in financially with the old 'find out the invoice' web sites like Edmunds. TrueCar is an example of a site that dealers are in on that puts out prices that they want you to think are correct. The short of it is that their average price they claim people are paying is inflated, or at best, don't represent factual savings numbers. Dealers are still making substantial money if they sell at invoice, even if they give up most or all of their holdback. The days of consumers finding out the true dealer cost of a car are long gone.

One article of many on this topic:

https://jalopnik.com/the-truth-about-truecar-savings-1559397086

 

[Mcc]

Unless of course they post their complete sales invoice with their personal info covered up or blocked out. So, I wouldn't agree that there is 'no way we can know'. Unless of course, posting that is prohibited on the forum. Is it?

- - - Updated - - -

Also, TrueCar is not a reliable source. Dealer networks long ago started getting their paws in financially with the old 'find out the invoice' web sites like Edmunds. TrueCar is an example of a site that dealers are in on that puts out prices that they want you to think are correct. The short of it is that their average price they claim people are paying is inflated.

Wow this is the first I have heard that TrueCar publishes spurious and biased data. Do the just make up car sales or is there some other way the bias the pricing, like selectively choosing what they report. Often I do see outliers but both on the high and low side.

 

[silvius]

Don't trust TrueCar as the dealer networks give them the numbers.....they are going to supply numbers that make them the most money, not "true" numbers (despite the web site title.) I don't know what their exact deception formula is though, sorry.

A good read is the article I posted earlier from Jalopnik; it is just a starting point.


https://jalopnik.com/the-truth-about...ngs-1559397086

Another related article:

http://www.autonews.com/article/20150731/RETAIL/150739945/truecar-hit-with-another-dealer-lawsuit

 

[GV70GUY]

If TrueCar numbers were correct the price I paid isn't even on their graph. Yelp is another one businesses can pay to have bad reviews removed. It like a membership you join and pay X amount.

 

[jmcgary]

I posted a photo of my purchase contract on this thread when I purchased a base model 2018 G80. Like others have mentioned, my price is not noted by Truecar and was lower than they stated was an excellent price. I didn't enjoy my experience at that particular dealership (other than I got what I believe was a fair price, although nothing like the guy who nabbed an 18 sport with 75 miles for 43.5k OTD I think was the price), but still showed the entire purchase contract to give potential buyers some additional information.

 

[Starflyer]

Just found this forum as I'm seriously thinking of going the G80 route. Price quotes here are all over the board. So I checked "carmax.com" and ALL the '17 G80's are listed for under 40K. Considering the list prices for ALL THE WAY are above 55K, that's a hell of a hit after only one year. I'm on a road trip and won't be back until mid-March. Then, I'm going to troll my local Genesis dealer (yes, we seem to have a Genesis only dealer) a few miles from home.

Wonder what the average 55K hit is on other luxury vehicles after one year?

 

[EdP]

Just found this forum as I'm seriously thinking of going the G80 route. Price quotes here are all over the board. So I checked "carmax.com" and ALL the '17 G80's are listed for under 40K. Considering the list prices for ALL THE WAY are above 55K, that's a hell of a hit after only one year. I'm on a road trip and won't be back until mid-March. Then, I'm going to troll my local Genesis dealer (yes, we seem to have a Genesis only dealer) a few miles from home.

Wonder what the average 55K hit is on other luxury vehicles after one year?

Did you compare trims? My AWD Ultimate stickered at $55550 bt you could buy it for much less bringing it to the high 40's. A plain base model starts out at 42 sticker. Sure, any car takes a big hit first year, but besure to check trim levels as there is quite a difference from the start. Doing a quick check of Carmax, I found the lowest priced Genesis to be the best equipped Ultimate, though it also had a few more miles. It made no sense to me given the starting price but seeing it in person may have been more revealing.

 

[Starflyer]

Did you compare trims? My AWD Ultimate stickered at $55550 bt you could buy it for much less bringing it to the high 40's.

No, trims were not listed for the 3 G80's I saw on carmax. I'm either interested in the regular G80 AWD tricked out all the way, Premium/Ultimate (55K) or the Sport at 57K msrp. The G80 5.0 busts my bank, but not because the gas mileage is less.

I'm in no hurry to complete the deal and might even wait until the '19's come out although I would probably still go for an '18. I'm thinking the end of May might be good. Right now i'm driving an Acura RDX, but want to get out of the SUV class. My Acura license expires at the end of May and to renew, it will cost over $500. And yes, the G80 license will probably be $650.

So, which model I get will probably depend on whether I like the Sport engine for 2K more.

 

[EdP]

My Acura license expires at the end of May and to renew, it will cost over $500. And yes, the G80 license will probably be $650.
.

How long does that cover you for? Here is CT registration is $90 for two years. We do pay property tax on cars though and my G80 is about $600 for the first year and declines with blue book value.