The electric vehicle market is heating up with deals! While Tesla adjusts pricing and competitors like BMW and Lucid offer discounts, Genesis throws its hat in the ring.
Genesis Offers Lease and Purchase Incentives
According to CarsDirect.com, all Genesis electric vehicles (GV60, Electrified GV70, and Electrified G80) are eligible for a significant lease discount until April 30th. This $7,500 incentive brings the starting price of the GV60 crossover down to $45,881 (compared to $48,350 without the discount). The Electrified GV70 benefits similarly, with its MSRP dropping from $67,800 to $60,300.
Purchase Incentives with a Catch
The $7,500 discount applies to purchases as well, but there’s a catch. It cannot be combined with the lowest available financing rate (5.49% APR for 60 months or 5.99% APR for 72 months for GV60 and Electrified GV80). The Electrified G80 sedan, the brand’s flagship, misses out on the purchase discount but remains eligible for the lease incentive.
Important Considerations
It’s worth noting that Genesis EVs currently don’t qualify for the $7,500 federal tax credit available on electric vehicle purchases. This makes the base GV60 roughly $9,000 more expensive than its competitor, the Tesla Model Y, which benefits from the credit. The Model Y’s starting MSRP goes down to $36,800 after the tax credit is applied.
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Genesis EV Options
The base GV60 comes with a single electric motor (225 horsepower) and an EPA-estimated range of 294 miles. The Electrified GV70, priced higher at around $144,000, offers all-wheel drive and an EPA-estimated range of 236 miles. Finally, the Electrified G80 sedan starts at $75,625 without any incentives and boasts all-wheel drive with a 282-mile EPA-estimated range.
With this new wave of deals, competition in the EV market intensifies. Consumers now have more choices with attractive lease and purchase offers.