Lease and pay cash immediately to take get $7500 off for Genesis GV60?

Ask the Hackrs
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I was told by Genesis that I can get $7500 off a GV60 by leasing it and then paying cash to buy it immediately or within a month or two, because the Genesis leasing company will take the credit. Is that true?

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Well you could pay for ratefindr (highly recommended to support LH)

Or edmunds forum will have that sort of info re lease cash.

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Yes, you can.

Minimize transaction costs. Is there an acq. fee waiver? How is sales tax handled for the lease and then subsequent buyout.

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Maryland sales tax is based on the sales price of the lease, not monthly payment. You don’t have to pay it again when buying the lease out. Same thing in Virginia.

The dealer isn’t lying. My girlfriend is going to do the same thing on a Volvo XC90 T8 Ultimate.

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@bilalfaruqi this is actually one of the main I think @brokers should remove calculator quotes.

Nothing wrong with the founders receiving a little piece of action for the tool they created that saved thousands of dollars for many.

Simultaneously pushing people to become more well-versed in lease terminology. The less spoon feeding, the better the community engagement and dialogue…

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I hate that tax rule. Kills unicorn deals at times.

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I hate personal property tax a lot more. Makes me wish I was still in NJ with vastly cheaper car ownership and lower income tax

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For example, these Volvo deals don’t make any sense for 24 months with such a high tax burden. Same for all the 18 month Nissan deals.

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Do you also hate insurance in VA vs. NJ? :grin:

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Honestly it’s about the same. Going from suburban NJ to an urban part of VA didn’t do me any favors there.

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What happens to the $5,999 due at signing? Would it be deducted so that I’d pay $60k - $7500 - $5999 + taxes on the $60k to buy it out?

The Genesis offer is “GV60 Advanced starting at $599/month for 36 months with $5,999 due at signing (AWD) after application of $7,500 EV Lease Bonus.”

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That’s not a real offer. That’s a manufacturer special. Get real quotes from dealers. Try Annapolis - they seem quite honest as they heavily promoted no markups during the worst of the chip crisis.

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Thanks everyone for the responses. I see detailed threads on this in the Ioniq 5 and GV60 forums.

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