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G70 is one of the best luxury lease deals

3396 Views 6 Replies 4 Participants Last post by  Roderick
As the G70 is geared towards those that are more budget minded, its not surprising to find that the G70 has some of the best lease rates in the segment. It is also the first luxury car that can be bought entirely online through their Genesis at Home service. A breakdown from the Globe and Mail details what you can expect to pay through financing and leasing.
2019 Genesis G70 2.0T Advanced All Wheel Drive

Vehicle price: $42,000 (all-inclusive)

Government fees: $131

Cash purchase price before tax: $42,131

Finance for 60 months at 1.9-per-cent interest for $816 per month including tax and requires $1,000 down payment

Lease for 48 months at 1.4-per-cent interest for $571 per month including tax and assumes a 20,000 annual kilometer allowance and requires $1,000 down payment

Includes complimentary scheduled maintenance and courtesy vehicle service for five years or 100,000 kilometers, and complimentary navigation map updates for five years
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I wonder why Genesis hasn't considered some kind of subscription service for the new G70 as that's been working well for new models from other automakers like Lexus and Volvo. Not having to worry about the costs of maintenance and repairs goes a long way in reducing the risks of being an early adopter.
I know Hyundai offered some kind of subscription plan for the Ioniq, but they ended up pulling it for reasons unknown. It was only offered in So Cal, so I don't think they really got the opportunity to see how it would fair on a larger scale.
They should consider revisiting this kind of service as I think that would be a welcomed alternative to traditional leasing. If they opened it up to the other models that would also be a way for buyers to get a better sense of their products as a whole.
Would love to see them go this route, especially with their new SUV on the horizon as well. Something like this only gets more appealing as they continue to expand on their lineup.
A key factor that might see a downturn in people enrolling into subscription programs will be shifting demographics that are seeing younger buyer enter the market. With that these days come more frugal buyers that shy away from all the bells and whistles that come with these programs for a more basic approach instead. Going through the 2008 recession, they're still scared by it.
The car ownership model is shifting and the next generation of buyers will come to realize there is no need to actually own a vehicle. The depreciation that is seen particularly on luxury models is just one of the reasons why so many opt to lease rather than buy. Subscription services should also make having one of these cars more affordable to the average individual.
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