Realistic price points to expect on a Genesis GV70

Ask the Hackrs Buy/Finance
1

I’m a Minnesotan who’s been a regular at my local Genesis dealership just drooling over the GV70 inventory that finally is hitting the lot in a reasonable bulk. They have anywhere between 3-6 for sale between the 2022-2023 models and at least a dozen vehicles on hold that are waiting to get picked up. Typically my dealership has been marking up the loose ones on the lot by a grand or two, but the in transit ones have shown up exactly at MSRP. I have yet to inquire about out the door prices nor find any recent estimate about any GV70 sales prices in Minnesota anywhere.

I have a few questions and am open for any advice/guidance since this is going to be my first serious car purchase (I have been driving an old buick that has been having a lot of maintenance issues this year).

I’m looking at getting a 2.5T advanced trim, which MSRP’s around $51,150.

  1. Can I get a good lease offer, if any lease offer at all, if I order the car into the dealership?

  2. Does anyone have any resources of past lease offers / out the door prices with this car in MN? Data for this specific make’s RV and depreciation rates are hard to find. Edmunds only has data for comparable cars on their site. The XC60 is a very close car in price range that has $25k depreciation costs.

  3. At what price point should I walk away from a deal on the car? It won’t be long before I need a new car so there’s some urgency, but going through the Signed! section on this site, I certainly don’t want to settle on any leasehackr score less than a 6 or so while I can help it.

  4. Obligatory: Lease or Finance? I’d like to lease but I can afford either comfortably right now.

Per my calculations I’m hoping to settle on a lease price in the $675 range for 3year/12k
or a finance deal very close to MSRP. I plan to put down $11,500, and if they accept it, trade-in my 2002 buick century with 50k miles in good condition.

Any advice/feedback is welcome! Thank you in advance!

2

Last time I looked at these, which wasn’t long ago, the leases were absolutely atrocious. This is a vehicle to purchase if you want it, not lease.

What percent discount is required to get you there?

2 Likes
3

  1. Lease offers suck right now, they are pretty much slightly worse than buying / selling

  2. Look at forums.edmunds.com

  3. That’s up to you

  4. Finance, if you can’t afford finance, then lease a DIFFERENT car.

You did say Realistic, if you are hard set on GV70, well good luck at giving your hard earned cash to the bank.

3 Likes
4

Assuming a highly optimistic 65% RV and a 5% discount on MSRP it gets into the lease ballpark I was talking about. Again hard to find specifics on these numbers, so I was looking at good scores on the forms here for comparable prices in this class of cars. I’m guessing that RV and discount are both highly optimistic though

5

I’m showing it at ~55

6

I didn’t know about the forms on that site. Thanks a lot for your feedback! This is really helpful

7

RVs are set by the manufacturer. There is no optimistic RV.

5 Likes
8

You’re right, RV and leasing as a whole is looking bleak via that thread.

9

Right now Leasing is pretty bad, and Genesis just started to go under MSRP.

GV80’s are offered under MSRP according to the Market Place and the 2.5T has 59% RV.

3 Likes
10

Why are you assuming what the RV?

11

Get offers elsewhere.

12

You think it’d be worth it? My research on that is $2,000 at the very very best, and my thinking is that getting $700 equity on a trade would be worth it to me for all the trouble of selling the car elsewhere. I may be jaded by my own experience of driving it that it’s not worth more…

13

Forbs kindly pointed out the forms on Edmunds that has good info on the GV70 RV’s. Prior to this thread I was unable to find an exact number. I’m new to this community and a first time buyer so sorry if I come across as a little lost! Thank you again for your help!

1 Like
14

Highly recommend leasing 101 articles!

Will help understand the basic math, and what goes into that lease payment #!

1 Like
15

On GV70, you should be able to get 8-12% off MSRP.

2 Likes
16

Care to share where you have seen GV70s being offered at that discount?

4 Likes
17

Maybe he meant GV80? GV70’s are brand new

18

Been out for a while now. Maybe you’re thinking of the the GV60?

19

A year during the pandemic is not ‘a while now’
Look at the Marketplace, 1 deal from Clutch and it’s over MSRP

20

I thought realistic price points on most Kia/Hyundai/Genesis models have started with blessings on blessing on blessings.