RV more than purchase price? 2024 Genesis G80 Electrified

Ask the Hackrs Buy/Finance
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1

Is it possible for the RV to be more than the purchase price?

I just got a quote sent over from a sales rep, not sure if he has run it by his finance manager yet but it looks like this:

MSRP…$75,195
Dealer Discount…-$20,000
Dealership Price…$55,195
Manufacturer Rebate…-$24,500
Total Purchase Price…$30,695

Residual value…$33,838 (45%)

24mo/12k miles. He has the sales tax, registration, fees, and the first month all in a down payment at $3,437.46. I was going to ask to have the sales tax of $2,477.30 spread throughout the monthly payments. Did he put the sales tax with the purchase price so its greater than the RV?

The total quoted monthly payment (with sales tax upfront) is $241.46. Seems too good to be true? First time leasing, so any help is appreciated!

2

It may not fund. Aggressive dealers may set net cap cost above rv and cut a check back to you to the agreed deal.

3

What do you mean by it may not fund?

4

The captive bank typically will reject funding (paying dealer for the car) if net cap is lower than rv.

5

Typically the ACC (adjusted cap cost) has to be greater than the RV

You can try rolling in all your upfronts (taxes, acq, doc, reg, etc) into the lease.

1 Like
6

Just tell them to cut you a check. Raise the mileage or sell you some BS lease protection and get the cap cost a few bucks over the residual and sign the thing before it slips away from you.

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7

First time leasing a deal. Not signed yet, but also have not negotiated sales price down. Is it still worth negotiating with such a steep discount already? Any sweeteners I can get on top? Not sure if Genesis still does the three year Electrify America charging free plan.

Base Model $73,125
Wheel Locks $85
Rear Bumper Applique $85
Vik Black Pearl Metallic $650
Manufacturer Destination Charge $1,250
MSRP (Sticker Price) $75,195
Dealer Discount $(20,000)
Dealer Price $55,195
Manufacturer Rebate $(24,500)
Total Purchase Price $30,695
Lease Summary
Term 24 months
Annual Milleage 12k miles
Residual Value (45%) $33,838.00
Total DAS $-
First Payment $241.46
Down Payment $(3,437.46)
Estimated Up-Front Reg. & Fees $718.70
Sales Tax $2,477.30
Monthly Payment $241.46

Fine print says my net cap cost is $34,882.46. I’m not sure what is being added to get that number. I also assume they need to include some stuff in there to get the net cap cost greater than the RV? Do I even have much negotiating room since cap cost is so close to the RV?

Much appreciated, thanks.

8

You sure that “discount” doesn’t include purchase-specific rebates?

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9

Car is a loaner - I figured that’s the discount.

What does purchase-specific rebate mean? Sorry just new to all this.

10

Is this from an actual dealer offer sheet? If not, did you actually get an offer sheet for the lease?

11

A rebate that only applies to cash/financing but specifically does NOT apply to leases.

12

No, just from sales rep. They are running my credit today and I expect to get something more official from the finance team today.

13

Got it. I’ll have to make sure. I’ve clarified a few times with the sales rep, but finance will let me know later today.

14

If that’s a legit quote at $241/m $0 DAS then sign it before someone else does

8 Likes
15

yep.. sign then ask.

16

100% this. Jump on it.

1 Like
17

Where’s the $3,437.46 coming from?

18

It’s the summation of the first payment, sales tax, and fees. I am not sure why it combined to a “down payment” since I shouldn’t have anything DAS.

19

So down payment/CCR is zero, but DAS is 1st payment, tax and fees.

Still looks like a nice deal, but effective monthly should be in the 400s.

PS: Have you researched about the car to make sure it meets your needs? The GV70 Electrified has 200 miles of range, not sure what’s the range in the G80.

20

Verify that it is a true $0 Due at signing and not $0 Down Payment. A quick look at their website calculator yield the same payment with $0 down payment + 1st+TLL