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  Genesis Buying

2016 Hyundai Genesis 👊🏻👊🏻
March 2016 Ultimate Edition 3.8 RWD Fully loaded 
http://KefferHyundai.com

1) The Hyundai Genesis Now Genesis G80 buying process was not that good and:

  • Staff wasn’t properly trained in Luxury car buying segment at all.
  • Assurance of Apple Car Play coming soon to it, only to discover the base radio received the retrofit but not the higher end Lexicon upgrade, which cost $1900 more.
  • The residuals are NOT competitive for this segment when in fact they were quite poor in 2016 requiring a 48 month term to equalize VERY heavy depreciation.
  • I purchased 5 other vehicles at approxmately $50-55k and exited my lease after 12-18 months (36 month terms) with maximum $1k hit. This car was severely upside down in Negative equity relative to all my cars from minute 1 to 850th day of leasership.
  • Delivery was lengthy and unprofessional.
  • I made a mistake in  leasing length , and unproven economics on this car but it was a nice I.C.E car.
  • Trade-in process went smooth but Dealer took almost 30 days to payoff trade , and I would have had to make a payment to avoid 30 day late on credit.
  • Since No Genesis dealers are here yet almost 3 years later I have had to deal with low quality tactics like phishing emails to buy my car back at an aggressive price and  postcards of the same with no follow-up substance. Typical clueless dealership.
  • Would not buy again from this Hyundai Dealer due to poor execution, and Overall customer care. 
The car itself :
  1. Pros:
  • Beautiful exterior , paint has withstood all types of elements after 3 years, and interior finishes are durable and luxury.
  • Powerful v6 with 311 hp, and 295 ft lbs torque , 7 speed transmission.
  • Tremendous technology was main swing in buying... such as HUD, adaptatiVe cruise which works well, heated steering, seats and vented seats. Giant panoramic sunroof, rear powered sunshade . Auto hold at stoplight or during traffic allows you to move foot off of brake till moving again.
  • Radio is excellent, and UI is nice with large rotary knob control
  • Drive engineering is amazing for such a big car very competitive with BMW and Mercedes is responsiveness, quietness, and ease of driving
  • Very smooth and HUD is useful feature that should be on all cars.

Cons:
  • Horrible residuals due to poor reception by brand snobs, and changeover from Hyundai Genesis to “Genesis” separate brand further devalued this model sharply.
  • Poor Hyundai customer service . My iPhone has never worked right thru 4 models of IPhone , continuously disconnecting during connected playback. Bluetooth is ok but definite loss in sound quality. Issue diagnosed many hours of being serviced multiple times but never corrected nor Apple car play.
  • Poor dealer training in servicing . Serviced with $15k Elantra’s and Optima’s and poor customer handling for this higher end segment.
  • Korean company doesn’t seem to care about American customer feedback 
  • Brakes could be stronger for such a hefty car
  • Low roofline creates cozy but cramped backseats and pass thru for trunk with large items.
  • Traction control over zealous and cuts accelerative power ,which is dangerous trying to enter intersections.
  • Highly underrated car 
  • Genesis added $4,500 in buying perks in 2017, as complimentary loaner, car pick up, free map updates, free service for 3 years , free Sirius XM 4 years,which further devalued 2015-2016 models which were same car. Very poor choice for creating loyalty of early buyers alienating them financially .
 
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~Recommendation:~

Hyundai & Kia K900, Cadenza, Equus never sold very well with k900 dwindling to 455 units sold in 2017 with a total of 5,000 in 4 years!  For reference, Mercedes sold over 200,000 E class in the U.S. alone from 2014-2017.
Tesla sold 50k model 3’s in 3rd quarter 2018 alone . The gas car outlook is dwindling  as suv and electric start to dominate...and Hyundai invested heavily in Hydrogen cell technology.


~Similar to the Kia Stinger shortfalls. Great car yet massive depreciation after purchase with the resale value at 55% after 2 years. Buy certified pre-owned after year 1 or more will be a better purchase or if aggressive 36 month lease is offered , go that route. Kia’s new Stinger model was offered with a $6,500 discount immediately after release, and back in July again.  Since most Hyundai’s are leased for cheap, the subsequent buyer may receive a highly abused car and the perception is that these cars are throwaways after a few years relative to established more desirable peacocking brands. 

 

The sweetspot: You can purchase a preowned Genesis with low miles for $35k or less!