Hyundai Capital America’s luxury captive, Genesis Finance, launched an all-inclusive lease program today called Genesis Spectrum. The new program bundles lease payment, car insurance, and maintenance coverage into a monthly payment.
Genesis Spectrum includes a 36-month loan term and insurance provided by MetLife Auto with a $500 deductible on 2019 Genesis G70, G80, and G90 sedans. To start, the program will be available in Florida.
“We are actively evaluating opportunities to introduce Genesis Spectrum in other markets,” Genesis Sales Director Connie Kahn told Auto Finance News.
As for the lease payment, G70 starts at $489 with $2699 due at signing; G80 starts at $569 with $3999 due at signing, and finally, G90 starts at $909 with $5499 due at signing.
Hyundai Capital America National Sales Director John Thacker told AFN in February that the success of its Hyundai Plus Lease program sparked expansion of the program to the Genesis brand, which boasts a lease penetration rate in the 60% to 75% range.
HCA’s previous initiative for promoting leases — its Hyundai Plus Lease, which launched in July 2018 — allows consumers to lease cars on a three-year term with insurance and maintenance bundled into the $279-per-month starting price.
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