2016 Hyundai Genesis AWD lease for $193. Can we do better?

genesis
hyundai
sedan
#1

Hi all,

Just received the following #s from my local dealership and I’m wondering if this lease can get even sweeter with the help of our experts:

• MSRP: $42k
• Capitalized Cost: $30,052
• 57% residual: $24,233.55
• Money factor .00035
• $193.07 base monthly payment
• $226.75 = Lease price + dealership doc fees, acquisition fee, state fees
• $15.53 = State tax/month (6.85% tax)
• $242.28 = Total monthly cost
• $8,879.8 = Total lease cost (includes $400 disposition)

edit: Less $400 college grad incentive, final payment comes out to $229/month.

He didn’t break out the administration fees (dealer doc, acquisition, state fees, etc). It seems odd to me that the cap cost less residual is $5,818.45 yet my total lease cost is $8,879.80 ($3k more). Am I getting nailed by dealer fees? Can we do better on this? I’m ready to pull the trigger tomorrow.

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#2

I was looking at the Genesis as well. I am seeing $4500 in incentives ($3500 lease cash + $1000 conquest) so it looks like you are getting 18% off of MSRP through the dealer. That’s incredible! Did it take much to get down to that price? I have a few dealers around here advertising a $4k dealer discount before incentives.

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#3

What part of the country are you in?

#4

Honestly it took no real effort at all. They marked down about $7k since it was a loaner vehicle, and then another ~$4,500 as a dealership fee/incentives. He didn’t give me a detailed breakdown. I know I qualify for recent grad and loyalty incentives ($1,400). All that being said, I’m not sure if those incentives were already included, so I’m curious if I could walk away with an even better deal than what’s already on the table. Thoughts?

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#5

I’m out in the west coast- but I’m assuming the markdowns are nationwide

#6

bay area?? let me know and ill go to same dealer asap! lol

#7

I work for Hyundai on the east coast and I can’t even get this deal as am employee. Let me know which dealer and I will go and get it :grinning: if you don’t want it.

#8

seems like maybe more discount bc it was a loaner? but a quick view of things in the area, showing $3500-4000 dealer discount, and then if theres really $4500 of incentive, seems like it would be easy to replicate something similar? or maybe im too optimistic :slight_smile:

#9

We seem to be looking at the same vehicles lol. I also have a lead on a ford edge titanium deal. Getting 18% off MSRP on a non loaner car is pretty optimistic. :smiley: But seeing as a few of my local dealers are listing their internet prices at ~10% off MSRP, you might be able to get close.

#10

Utah. I actually ended up negotiating it a bit cheaper. Additionally, I declined the excess wear and tear ($595) so my OTD was $8k flat not including disposition.

#11

Haha, I just picked it up, but they have other 2016s on the lot.

I actually ended up negotiating it a bit cheaper. Additionally, I declined the excess wear and tear ($595) so my OTD was $8k flat not including disposition. Still not sure whether or not to get it, they said I have a couple days to decide…

#12

Just got this lease quote sent to me and it looks off. All of my calculations get payments down to ~$309.50 after 9.8% sales tax.

MSRP 42415
Base Cap Cost was agreed upon at 37915
Rebates 4500
Net Cap Cost should be 34010 with the acquisition fee rolled into the lease. He’s got an extra 305.29 added in there

He’s also got another 876.06 added in as cap cost reduction, which shouldn’t be there.

I’ve brought all of this up with him and he still can’t seem to understand. Saying their quote is based upon all of the numbers we discussed and they can’t match my calculations.

#13

Hmmm that’s odd. Though keep in mind mine did have an immediate $7k and some change off the top for having over 1k miles on it.

Here’s a copy of my contract if that’s helpful. This was before I went in and further negotiated it down to $229.

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#14

Little hard to read but I got the gist of it. The more I talk with this sales guy, the more I can tell he doesn’t understand simple math.

#15

Sorry, for some reason it gets pixelated when I upload to imgur. Hopefully it’s still somewhat legible and easy to follow. Perhaps one of the differences is that I qualified for a couple rebates/incentives (i.e. Military, student, competitive/loyalty, etc). If you don’t qualify for them that’s easily another $40 or $50 a month. Good luck. Let me know how it turns out!

#16

Is anyone seeing similar deals in the Atlanta market?

Stopped by Rick Case in Roswell yesterday and did not even get greeted by a Salesperson. Guess they made their quota before Friday.

#17

Most of sales persons don’t know how lease is calculated. Their finance person or manager just enters the numbers into their software and gets the result. Not saying they don’t try to add something there.

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#18

Can you tell me which dealer in Utah you worked with? I am in Utah and love to get this deal.

#19

That is definitely the case here. Their software seems to be set up in a particular fashion and they wont/cant alter it. I don’t feel comfortable with the way they are structuring the deal. It just doesn’t feel right. Nothing but the RV and MF seem to match with what I have calculated. Not even the Gross Cap Cost matches what I was told the sale price would be. Already working with another dealer to see what they come up with.

#20

Whether it’s $350, $300, or $200/month, that’s still an epic deal for a car like Genesis, which is arguably a 5-series or E-Class competitor.

Thanks for sharing, all! I’ll look into this. Perhaps an article is in order. :slight_smile:

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