Appreciate the feedback. I am avoiding the finance because I would like to lower my monthly payments at the time if possible and want to have more liquid cash in hand as I am also considering a mortgage over the next year (if these rates ever improve).
I have considered selling back to Honda but have been told I would only get a good price if only I traded towards another Honda.
Any reason you are not recommending PPF? I am concerned about leaving matte paint as is since I drive in some very bad roads (NY) and am worried about rock chips which would be expensive fix for matte paint. Honestly would like to avoid matte paint if possible but there is literally no other colors available in the same trim around me.
$6k is a lot. Itās like a $6k down payment. If your car gets totaled, you donāt get that back. Genesis traditionally donāt lease very well. There is a fire sale on Audi Q5s right now.
Wow that is wild pricing! I donāt have costco and am in NY but I did see NYCLIFE has a 2025 for $530 and 2023 Q5 for $620. Trying my luck with that right now.
If thatās the priority then donāt take on a $60k+ liability right now.
Complete waste of money for the scenario youāre describing (lease it, buy it out at the end and own it for several years after that). No one is going to pay you even $600 more for your car vs one with normal wear and tear. Your ROI is going to be almost zero.
Just get a non-matte color or, to my earlier point, choose a different make/model.
Couple of notes on Genesis. I donāt have one, but a few of my friends do. If you are going to have to deal with Hyundai dealership for service, move on right now. Thatās where Genesis luxury experience goes out the window and you are stuck dealing with what is one step above Kia as far as assholes per employee ratios.
Since you are planning to buy it out, do some research into the problems with that model. They are pretty shitty reliability-wise. Like a lot of Hyundai offerings flashy things, with shit mechanicals. Lease is fine, but again if your plan is to own it, consider it past the āHonestly I am smitten by the 2023 GV70 Advancedā, it sounds like you are now making decisions with your heart vs your brain.
Gun to my head to put the cars in your list in order of preference would go: X3 > Q5 > Rebadged Dodge if it was half the price of x3 > GV70 (only after looking around at what else is out there). As a disclaimer, Iād rather walk than ever have to deal with my local Hyundai dealer.
That could be in todayās market, I havenāt been following the prices on those specific cars. Iām going from purely preference based on quality, luxury, driving dynamics, dealership experiences, etc. For me personally Iād rather go with either of the Germans, or if thatās not in the budget, just skip the luxury segment and go based on prices. Maybe thatās an old way of thinking, but to me Genesis is Hyundai, Acura is Honda (honestly in some aspects Honda is better), Infiniti is Nissan, and the only one that managed to break the draw down from the regular brand is Lexus / Toyota.
I currently drive a GV80 (financed) and a G70 (leased). Used to lease a loaner G70 previously that was totaled in an accident. My experience with the brand has been mostly positive. As others mentioned, the dealership experience is bad. But the cars are an amazing value for what they offer. And I dig their designs. GV70 is no exception and looks terrific.
I can not speak of their long term reliability since all of my cars are/were late model years. But with 70,000 miles split across three cars, they have been very reliable with genesis provided prepaid maintenance for 36 months. For service, I like their valet pickup/drop. But Iāve seen a few dealers try to discourage this by providing appointments thatās few months out if you choose valet option. On my G70, they found uneven tire wear after the first 5000 miles and replaced all 4 under warranty. Other that, I only had to regular maintenance and itās been solid at 17k miles now. Our GV80 has racked up close to 35k miles. It is trouble free as well with only regular maintenance. I had the dealershipās body shop replace front grille, hood due to a collision few months back and Iām not very happy with the work. In spite of using a genesis dealer and OEM parts, I saw the hood-bumper panel gap is slightly misaligned. And they tried to convince me itās normal and thatās the best they could do.
Fuel economy is not great. On my GV80 with the 2.5 engine, I get around 24 - 26. On the G70 with 3.3T itās horrible at 20 - 23 and with a heavy right foot it drops to high teens.
Overall, the cars are great, not so great fuel economy and sub par dealership experience. Iām not used to any luxury brands, so I can work it. Good luck with your search.
You should have at least $6K in equity on your Accord lease if your buyout is only $20K. [Black Book] National Average āTrade-Inā value for a '20 Accord Sport 2.0T 10AT w/24K is ~$26K. Thatās in āAverageā condition. Probably not too far off what the selling price of it was when you first leased it.
