- Genesis is offering a substantial lease bonus to people who want to get a 2024 Electrified G80 sedan.
- Customers could buy a whole other car with the money saved from the lease deal.
Leasing is the preferred way for Americans to get behind the wheel of a new all-electric vehicle, with nearly 80% of new EVs bought at dealerships being leased, according to Edmunds data. And with offers like the one put forward by Genesis, it’s easy to see why.
That’s because Hyundai Motor Group’s luxury brand has what could possibly be the best deal out there at the moment, with a lease incentive so big, one could buy a brand-new base Toyota Corolla with the money saved from this lease.
According to the automaker’s website, the 2024 Genesis Electrified G80–that’s the four-door luxury flagship sedan that competes with the Tesla Model S–has a lease bonus of no less than $22,000. The 2025 Toyota Corolla starts at $22,175, so yes, you would have to add a little cash on top for the Corolla, but still, this is an amazing deal.
Leasing starts at $579 per month for 33 months, with a down payment of $5,999, which comes out to an effective monthly payment of $760.8. The terms include a 10,000-mile yearly allowance.
Yes, the 33-month term is a bit out of the ordinary, with most leases running out after 12, 24 or 36 months. But when it comes to sheer value, it’s very hard to beat Genesis’ offer here. By comparison, leasing a brand-new base Tesla Model S for 36 months with a down payment of $5,999 costs $1,046 per month. Add everything up and divide by the 33 months of the G80 lease and you would end up with an effective monthly payment of nearly $1,323. Plus, Genesis allows customers to buy the car after the lease ends for a $37,056 fee, whereas Tesla doesn’t.
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With an MSRP of $74,375 (excluding destination), the 2024 Genesis Electrified G80 comes as standard with dual-motor all-wheel drive, 365 horsepower and an EPA-estimated range of 282 miles on a full charge. The base package includes heated and ventilated front seats, an 8-inch digital instrument cluster and 14.5-inch infotainment display, Apple CarPlay and Android Auto, a wireless phone charger and a healthy list of safety systems. There’s also vehicle-to-load, which the Tesla Model S–or any other Tesla except the Cybertruck–lacks.
