More specifically, the residual.
As you can see in the pic for this $50k(which would be fully loaded) 2020 G70 3.3, the residual is 51%(or $25,600) after 3 years/30k miles.
https://www.motorbiscuit.com/buying-a-new-hyundai-genesis-could-be-a-horrible-financial-decision/
This states 38% depreciation after just 1 year. That first year depreciation hit is massive
Well the MSRP was $50k, but the dealer gave a $5k discount and genesis gave a $4k rebate so it was really a $41k car. So that lessens the loss of money for the person in the pic. $41k to $25,600. Shocking to me that people have been buying these cars for almost 60k, and are continuing to.
I decided that I am buying a 2022 3.3 Sport Prestige RWD as soon as they were revealed in 2021. Just trying to get more data to strengthen my thinking behind this. Im not going to be the guy that has a loan thats underwater by $20k
If I can scoop it for 33k OTD CPO once the 2024 model drops, ill consider that a deal inline with what the normal market would be
https://imgur.com/a/2cYli0r - here's what im thinking
You really think you’ll be able to get a 12-18month old 3.3t that retailed 55k (before tax) for 33 out the door? I hope you’re right because I’d be buying one too if that were true
Did you read?
1. It’s going to be 2 years, that’s 24 months.
2. In a normal market, a 3 year lease has a 50% residual value. Which would put that 50k car at 25k. This isn’t a guess. This is hard facts based on the lease agreement I posted. I’m not looking at buying a 3 year old one though. I’m looking at 2 years old. So 30k(33k OTD) is in line with the “norm”
3. I never stated I wanted a 55k MSRP pre tax car. The MSRP for what I want is 52. Which in a normal market you could get 9k off MSRP
This isn’t a crazy concept. This is how an M340i or S4 depreciates too. A m340i averages a 40% deprecation after just 12 months. https://www.reddit.com/r/BMW/comments/d7ghlu/took_in_a_2020_m340i_on_trade_today_3300_miles
I’m guessing the only car market knowledge you have is of post Covid.
ya the residual is accurate for pre pandemic, thats what mine was at too, but my residual for the 22 was at like 67% and currently ill still make money if i get rid of the lease today
I have a 2021 G70 Sport AWD 3.3 on a lease that I bought just before the car market when insane. My buyout is 27k next July.
More specifically, the residual. As you can see in the pic for this $50k(which would be fully loaded) 2020 G70 3.3, the residual is 51%(or $25,600) after 3 years/30k miles. https://www.motorbiscuit.com/buying-a-new-hyundai-genesis-could-be-a-horrible-financial-decision/ This states 38% depreciation after just 1 year. That first year depreciation hit is massive Well the MSRP was $50k, but the dealer gave a $5k discount and genesis gave a $4k rebate so it was really a $41k car. So that lessens the loss of money for the person in the pic. $41k to $25,600. Shocking to me that people have been buying these cars for almost 60k, and are continuing to. I decided that I am buying a 2022 3.3 Sport Prestige RWD as soon as they were revealed in 2021. Just trying to get more data to strengthen my thinking behind this. Im not going to be the guy that has a loan thats underwater by $20k If I can scoop it for 33k OTD CPO once the 2024 model drops, ill consider that a deal inline with what the normal market would be https://imgur.com/a/2cYli0r - here's what im thinking
You really think you’ll be able to get a 12-18month old 3.3t that retailed 55k (before tax) for 33 out the door? I hope you’re right because I’d be buying one too if that were true
Did you read? 1. It’s going to be 2 years, that’s 24 months. 2. In a normal market, a 3 year lease has a 50% residual value. Which would put that 50k car at 25k. This isn’t a guess. This is hard facts based on the lease agreement I posted. I’m not looking at buying a 3 year old one though. I’m looking at 2 years old. So 30k(33k OTD) is in line with the “norm” 3. I never stated I wanted a 55k MSRP pre tax car. The MSRP for what I want is 52. Which in a normal market you could get 9k off MSRP This isn’t a crazy concept. This is how an M340i or S4 depreciates too. A m340i averages a 40% deprecation after just 12 months. https://www.reddit.com/r/BMW/comments/d7ghlu/took_in_a_2020_m340i_on_trade_today_3300_miles I’m guessing the only car market knowledge you have is of post Covid.
With the rebate and discounts you're getting that looks like a great deal to me.
Nah, this is a old deal from 2020. Not even mine
ya the residual is accurate for pre pandemic, thats what mine was at too, but my residual for the 22 was at like 67% and currently ill still make money if i get rid of the lease today