2020 Hyundai Sonata Limited lease vs 2019 Genesis G70 Sport lease

Ask the Hackrs
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1

Hey guys, I changed the subject a little to compare two offers I received (2020 Sonata Limited vs 2019 Genesis G70 Sport).

I live in Houston, TX. Have talked with almost every Hyundai dealer about the new 2020 Hyundai Sonata limited Trim ($34.5K MSRP), and it is really hard to get a good deal. The lowest quote i can get so far is all inclusive $356/month for 36 months (12K miles per year) with 0 down/drive-off (except the first monthly payment).

I also got a quote for 2019 Genesis G70 Sport trim ($45.9K MSRP) about $420/month (36 month, 12K miles per year). I verified with Edmunds for both cars. MF and RV match. Both cars have <20 miles on the car.

Sonata advantage: 1 year newer, bigger screen (10" vs 8"), panoramic sun window, blind spot camera, all digital meters, larger space (really comfortable; vs very cramped back seat for G70), bigger trunk (15 cubic feet vs 10 cubic feet), the design little more modern, much higher MPG (27 vs 20)

G70 advantage: look nicer/more sharp from outside; interior materials feel more classy (i.e., better leather), power fold/auto dimming side mirrors, bigger wheels (19" vs 18"), better tires, more power (2.0T vs 1.6T)

So the question now which is better? 356/month for 2020 Sonata Limited vs $420/month 2019 G70 Sport?

2020 Sonata Limited Trim

2019 Genesis G70 Sport Trim

2

Seems like too much :moneybag::moneybag::moneybag::moneybag: for that car, you’re in 3 series S60 fart car territory

3

For 2020 Sonata limited that could be a good deal if there is zero drive off. In SoCal dealer quoted me for the same car with zero down zero drive off before tax $489 I was like :open_mouth::hushed:

4

I ran into the same issue with a 2020 Sonata Premium I got quotes. Residuals are good but very limited incentives and limited discounts so it’s not a good lease right now. I’m waiting till March to see if things change.

5

You might need to check all dealers (maybe even further away from your zip). I just got one offer for 373/month and all the others are above 450/month… My check radius is 100 miles from where I live.

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6

It was said that cars are not leased well in February. Not sure about March. It might be even worse. I can tell the lease cash in Feb is less than in Jan (i have been monitoring the price since last December). But March is the end of quarter, so it might get better as well.

The “low” offer I got ($373/month with $0 drive off) is because the dealer said he has to finish certain amount of sales otherwise Hyundai will not give him some money, blahblah. Not sure whether it is true or not. He even claimed that he lost money on this rate (I highly doubted this though).

My previous lease of 2017 Sonata Limited is $300/month for $31.5K msrp. So I expected monthly payment will be $300/$31.5K*$34.5K = $330/month

7

In the past Hyundai did pay out bonuses based on certain sales numbers, if that’s the case they might call you on the last day or so of the month with a lower payment if it gets them to the next tier.

8

Can we stop doing this please? Compare every car payment against a 3-series loaner? Sonata is a bigger roomier car, larger trunk, better gas mileage etc etc. 3-series is more compact with much better handling and more power.
If I were to guess, a limited Sonata may also have no features and options than a 3-series loaner at this payment. ( I helped a friend hack a 48K 3-series last month, effective payment was $378, so I know what options come at that price level).

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9

Fixed it!!!

10

That’s also conveniently forgetting the tax burden in Texas which puts a 330i nearly unattainable in that price range.

11

lol. Look, I am not saying we should be paying $370 for a Sonata, but these things start at what? $24k and goto 35k?

12

Oh it’s texas, yeah readjust your search for cars with tax credits.

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13
  1. Let’s not compare a 2017 deal to 2020, huge changes to market (sedan residuals are typically lower, interest rates are higher, incentives are fewer etc etc).
  2. Texas has higher taxes on lease (on whole car, not just depreciation).
14

Yeah, definitely don’t reminisce about your 3 year old lease deal on a previous generation Sonata. The Hellcat people got a rude awakening with that. Well, except @Ed_Churchward.

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15

but the TX dealer gave me lower tax rate (effective tax rate around 1% for the whole car). I agree the market changed a lot. I got my 2017 car in 2016 while got this 2020 car quote in 2020, though. Both are the top trim.

16

Hey, those ridiculous hood DRLs are worth an extra 70 bucks IMO.

17

Can you clarify how you think a dealer can give you a different tax rate than what’s mandated by state law?

18

I don’t know how that work legally. But it seems the tax credit/reduced tax rate is a normal thing here (many vendors of different brands provide that now). Many LeaseHacr posts have that info as well.

19

Unfortunately, the base model has MSRP of $24K and the top trim gets a tag of $34K. The top trim has 10 inch screen, surround view camera, heat/ventilated seats, panpramic sun window, wireless charge, you can even control the car without sitting in the car to park/pull back the car. I kind of like its design.

20

Smells like tax credits to me.

And yeah the top trim has some pretty sweet options. The blind spot cameras are great and adding “dumb summon” was a nice touch.