Genesis Lease
11-07-08, 06:59 PM
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Genesis Lease
Don't want to start the usual Genesis rants or raves but noticed the attached ad in our local paper. It is obviously a V6 with the premium package and the tech package, whatever they are. And of course it wants 5K down. But it certainly looks like an attractive way to get into one.
Before anyone starts with how desperate Hyundai must be to unload these things or that the car is junk, I haven't really spent much time with one up close yet. But the reviews I have scanned indicate that it is a pretty impressive car even when compared with hardware that is much more expensive. I can't claim to have watched much leases but it seems that the Genesis at this lease point would easily out class the like priced competition. Have to look at these at the Auto Shows the end of the month.
Before anyone starts with how desperate Hyundai must be to unload these things or that the car is junk, I haven't really spent much time with one up close yet. But the reviews I have scanned indicate that it is a pretty impressive car even when compared with hardware that is much more expensive. I can't claim to have watched much leases but it seems that the Genesis at this lease point would easily out class the like priced competition. Have to look at these at the Auto Shows the end of the month.
11-07-08, 07:09 PM
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I have no idea what we are talking about competing with it price wise but I am of the assumption the Genesis would put it to shame. We aren't talking about LS or 5 or E money here.
In tough times, it just seems like a heckuva deal. And I am looking forward to the SF auto show (Thanksgiving week) to spend some time with it. I can forgive a lot of minor issues at that price point that I wouldn't forgive in something with a higher price tag.
11-07-08, 07:13 PM
#4
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I think we both agree the Genesis is superb. Now do you see the traditional Hyundai buyer putting 5k down on a car? I don't. I know the Genesis is to appeal to a more affluent demographic but I think if it had a lower down with a higher monthly, well it would do better.
I could be wrong. Hell you can lease a G35 now G37 sedan for $349 a month and have so for sometime, with I think 3k down. That to me is a tough decision.
I could be wrong. Hell you can lease a G35 now G37 sedan for $349 a month and have so for sometime, with I think 3k down. That to me is a tough decision.
11-07-08, 08:06 PM
#6
Make time fast, it's a good car
The reasons for this are pretty obvious
1) The economy is still pretty bad
2) The Hyundai name still has a somewhat negative connotation (warranted or not) and when people spend 30k on a car they want more than "just" a Hyundai.
It really is a shame though. I hope the Genesis makes it through more than 1 gen.
11-07-08, 09:26 PM
#7
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Hmm.... ran a quick check on an is250 lease for 24 months online with 5K down. I got > $750/mo. Sounds like a deal to me. I think you will agree the Genesis is > IS250. We all want stuff "cheap" but in today's market I think $2.5K would be unbelievable whereas $5K seems like a decent bargain to me.
2.5k would be a bargain on the Genesis...
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11-08-08, 06:21 AM
#8
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Hmm.... ran a quick check on an is250 lease for 24 months online with 5K down. I got > $750/mo. Sounds like a deal to me. I think you will agree the Genesis is > IS250. We all want stuff "cheap" but in today's market I think $2.5K would be unbelievable whereas $5K seems like a decent bargain to me.
11-08-08, 07:35 AM
#9
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Fair enough, haven't followed them that closely and I don't get near that with the lexus financial calculator though. Call them equal @ 299 though and I think Genesis is still a fantastic deal not a meh deal.
11-08-08, 01:50 PM
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Well, I was curious how the Genesis lease stood up and what kind of competition it is up against at that price point. I'll have to take everyone's word for the IS250 lease price, just don't know what it is. And while the IS 250 has it's strengths, my impression from the reviews so far is that the Genesis is quite a bit bigger vehicle, at least in practical interior dimensions if not outside. I would hope so as the IS is not anything I would consider because of that.
Still looking forward to spending some time with the Genesis. Wouldn't hurt if Hyundai would publicize the lease if it is national other than have it just be noticed casually as I saw it.
Still looking forward to spending some time with the Genesis. Wouldn't hurt if Hyundai would publicize the lease if it is national other than have it just be noticed casually as I saw it.
11-08-08, 04:07 PM
#11
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Here's the national deal they're advertising on their website:
*Lease financing available on 2009 Hyundai Genesis 3.8 V6 model code B0422. Lease offer available only at participating Hyundai dealers. Lease offer not available the states of NM, TX, OK, LA, AR, MS, AL, and TN. Offer ends December 1, 2008. Monthly lease payments of $399.00 for 27 months based on MSRP of $33,000.00 (includes freight). $2,599 due at lease signing (includes $2,200 cap cost reduction.) Total lease payments are $10,773.00.
The best way to make leases easier to compare is to either compare by multiplying the payment by the month into a lump sum or dividing the cash due at signing by the months and building it into the payment. In the case of the deal posted by the OP the payments on the car jump to about 500/month.
This is on a car with a 39,250 MSRP before destination.
So just compare it to other car leases on cars selling around 40k... is 0 down 500/month good?
To me it sounds good, not amazing, but good... especially considering the value that the Genesis already packs into itself for 40k. I guess what I'm saying is that there's already great value in the MSRP... tack on a good lease rate to that and that's impressive!
*Lease financing available on 2009 Hyundai Genesis 3.8 V6 model code B0422. Lease offer available only at participating Hyundai dealers. Lease offer not available the states of NM, TX, OK, LA, AR, MS, AL, and TN. Offer ends December 1, 2008. Monthly lease payments of $399.00 for 27 months based on MSRP of $33,000.00 (includes freight). $2,599 due at lease signing (includes $2,200 cap cost reduction.) Total lease payments are $10,773.00.
The best way to make leases easier to compare is to either compare by multiplying the payment by the month into a lump sum or dividing the cash due at signing by the months and building it into the payment. In the case of the deal posted by the OP the payments on the car jump to about 500/month.
This is on a car with a 39,250 MSRP before destination.
So just compare it to other car leases on cars selling around 40k... is 0 down 500/month good?
To me it sounds good, not amazing, but good... especially considering the value that the Genesis already packs into itself for 40k. I guess what I'm saying is that there's already great value in the MSRP... tack on a good lease rate to that and that's impressive!
11-08-08, 04:53 PM
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Here's the national deal they're advertising on their website:
*Lease financing available on 2009 Hyundai Genesis 3.8 V6 model code B0422. Lease offer available only at participating Hyundai dealers. Lease offer not available the states of NM, TX, OK, LA, AR, MS, AL, and TN. Offer ends December 1, 2008. Monthly lease payments of $399.00 for 27 months based on MSRP of $33,000.00 (includes freight). $2,599 due at lease signing (includes $2,200 cap cost reduction.) Total lease payments are $10,773.00.
The best way to make leases easier to compare is to either compare by multiplying the payment by the month into a lump sum or dividing the cash due at signing by the months and building it into the payment. In the case of the deal posted by the OP the payments on the car jump to about 500/month.
This is on a car with a 39,250 MSRP before destination.
So just compare it to other car leases on cars selling around 40k... is 0 down 500/month good?
To me it sounds good, not amazing, but good... especially considering the value that the Genesis already packs into itself for 40k. I guess what I'm saying is that there's already great value in the MSRP... tack on a good lease rate to that and that's impressive!
*Lease financing available on 2009 Hyundai Genesis 3.8 V6 model code B0422. Lease offer available only at participating Hyundai dealers. Lease offer not available the states of NM, TX, OK, LA, AR, MS, AL, and TN. Offer ends December 1, 2008. Monthly lease payments of $399.00 for 27 months based on MSRP of $33,000.00 (includes freight). $2,599 due at lease signing (includes $2,200 cap cost reduction.) Total lease payments are $10,773.00.
The best way to make leases easier to compare is to either compare by multiplying the payment by the month into a lump sum or dividing the cash due at signing by the months and building it into the payment. In the case of the deal posted by the OP the payments on the car jump to about 500/month.
This is on a car with a 39,250 MSRP before destination.
So just compare it to other car leases on cars selling around 40k... is 0 down 500/month good?
To me it sounds good, not amazing, but good... especially considering the value that the Genesis already packs into itself for 40k. I guess what I'm saying is that there's already great value in the MSRP... tack on a good lease rate to that and that's impressive!
A good lease deal, or price, on a car you don't want is no deal IMO. But the Genesis really has me intrigued. From what I have read, this looked like a pretty tempting deal on a pretty competitive car.
11-13-08, 12:07 PM
#14
Lexus Test Driver
Eh. Like you kinda mentioned - the Genesis isn't really FOR the traditional Hyundai buyer. It's meant for a more affluent demographic that CAN afford a $5k down payment. You should check my site some time. You'll find a LOT of people coming to Hyundai from BMW, Lexus and Infiniti - and I'm not talking OLD models.
As for the G37 sedan - it's a very nice car - but different than the Genesis - which is much more roomy and comfortable. It's really just not intended to attract the same crowd...
To Allen.. Again, as I mentioned above:
You should check my site some time. You'll find a LOT of people coming to Hyundai from BMW, Lexus and Infiniti - and I'm not talking OLD models. This has never happened before. These people are trading in their top-tier brand name vehicles for "just a Hyundai"...
As for the G37 sedan - it's a very nice car - but different than the Genesis - which is much more roomy and comfortable. It's really just not intended to attract the same crowd...
I think we both agree the Genesis is superb. Now do you see the traditional Hyundai buyer putting 5k down on a car? I don't. I know the Genesis is to appeal to a more affluent demographic but I think if it had a lower down with a higher monthly, well it would do better.
I could be wrong. Hell you can lease a G35 now G37 sedan for $349 a month and have so for sometime, with I think 3k down. That to me is a tough decision.
I could be wrong. Hell you can lease a G35 now G37 sedan for $349 a month and have so for sometime, with I think 3k down. That to me is a tough decision.
You should check my site some time. You'll find a LOT of people coming to Hyundai from BMW, Lexus and Infiniti - and I'm not talking OLD models. This has never happened before. These people are trading in their top-tier brand name vehicles for "just a Hyundai"...
Make time fast, it's a good car
The reasons for this are pretty obvious
1) The economy is still pretty bad
2) The Hyundai name still has a somewhat negative connotation (warranted or not) and when people spend 30k on a car they want more than "just" a Hyundai.
It really is a shame though. I hope the Genesis makes it through more than 1 gen.
The reasons for this are pretty obvious
1) The economy is still pretty bad
2) The Hyundai name still has a somewhat negative connotation (warranted or not) and when people spend 30k on a car they want more than "just" a Hyundai.
It really is a shame though. I hope the Genesis makes it through more than 1 gen.
11-13-08, 12:55 PM
#15
Lexus Fanatic
I think we both agree the Genesis is superb. Now do you see the traditional Hyundai buyer putting 5k down on a car? I don't. I know the Genesis is to appeal to a more affluent demographic but I think if it had a lower down with a higher monthly, well it would do better.
I could be wrong. Hell you can lease a G35 now G37 sedan for $349 a month and have so for sometime, with I think 3k down. That to me is a tough decision.
I could be wrong. Hell you can lease a G35 now G37 sedan for $349 a month and have so for sometime, with I think 3k down. That to me is a tough decision.