A pile of discounts still makes for an expensive lease.
The Genesis G90 was the brand’s lowest-selling model last year, even though sales were steady from 2018 into 2019. Genesis gave the luxury sedan a significant mid-cycle redesign late last year, nearly a year after the redesigned flagship set sail in the brand’s home of South Korea. The refreshed G90 is just now beginning to arrive at dealerships, and it’s bringing with it a mountain of lease discounts, according to a new report from Cars Direct that cited a bulletin sent to Genesis dealers.
Genesis is offering up to $6,750 off a G90 lease to lure customers. As with other discounts, the savings amount varies depending on trim. According to the publication, customers can get up to $5,000 off the G90 Premium with that jumping to $5,250 when customers opt for all-wheel drive. The G90 Ultimate is eligible for $4,000 with rear-wheel drive and $5,750 with AWD.
Lessees are also eligible for one of two $1,000 discounts – one as a conquest bonus for customers coming from a Genesis competitor, or one for current Genesis or Hyundai customers. Total up all those potential savings, and customers could save up to $6,750. However, even with all that money off, a G90 lease isn’t the best value.
As Cars Direct breaks down, a G90 lease is still expensive. Genesis is listing a G90 Premium lease at $899 a month for 36 months with $5,999 due at signing. That equates to $1,066 a month though that does drop to $1,038 if you qualify for either of the $1,000 bonuses. Those in the market for a luxury sedan should look to the cheaper 2019 Lexus LS 500, according to the publication, though a comparatively equipped 2020 BMW 740i or 2020 Mercedes S450 lease is more expensive.
Gallery: 2020 Genesis G90: First Drive
Genesis, Hyundai’s full-throated foray into the luxury segment, closed 2019 by doubling its sales for the year, which is remarkable for a brand that will launch its first SUV tonight. While the G70 sedan accounted for more than half of the brand’s sales, G90 sales held steady compared to 2018. Though, the G90 isn’t a sales leader for the company with 2,238, down two from 2018. A major redesign should attract new customers, though these current lease deals end February 3.