I recently (3 weeks ago) purchased a Genesis on lease. First ever lease, we always buy. Wife informs me that she won’t want to give the car up in 3 years and we got the $7500 lease rebate anyway. I found on the site and over the phone how to get the lease buyout quote. I am dumbfounded as to how to initiate this. Do I have to make the payment to the finance system. I don’t see any way at this point to talk to an actual human. Any advice from someone who has already dealt with Genesis on this? Thanks in advance.
I don’t know offhand but it’s not great. If I rode the lease out, I wouldn’t buy the car at the end. The RV is .61, and buying now versus at the end is a difference of about 13k.
Do you know your MF? Does your state charge additional tax on lease? or you can check your buy out price now & get a financing vs at the end of the lease + upcoming lease payment, this will determine which one is cheaper.
Wisconsin charges use tax during the lease, sales tax on the purchase. I have my buyout price, it is just a matter of initiating the clause. There is no financing involved in the purchase.
There is a rent charge, not sure what it is off hand. Yes, no loan. The backstory is that we had purchased a different model with cash. That model turned out to be a lemon. My wife was sick of the rental and we were a little leery at that point of buying another car outright, so we picked the lease option. I didn’t really do any research into MF or leases at that point. We just went with it based on the amount of money we were comfortable paying over the 3 years.
Finally found the link thanks to this page and did the payoff. Note for any Genesis owners looking for this info: The payment page only allows you to do a max of $25,000 per transaction. You can input multiple payments so long as they are not identical amounts (i.e doing two 25k payments, I had to drop the second to $24,999 to get it to pass through).
