For a full-size luxury car, the median prices of a used Hyundai Genesis are extremely reasonable in most of the states in the United States. Its South Korean manufacturer, the Hyundai Motor Company, has termed the Genesis as a ‘premium sports sedan’. This 4-door sedan has been in the American markets since 2008, and has been one of the best rated executive cars since then.
With the exception of Alabama, where the Genesis is available for a median price of $41,885, this full-size luxury car is available for a median price below $27,000 in all the other states. The Genesis is available for a median price as low as $16,495 in Montana. The insurance rates for the Genesis are also, not very high. The average annual insurance rate ranges from $925 in Maine to $2,622 in Michigan.
Considering the median price and the average insurance, the three best states to buy and insure a Genesis are –
1. Minnesota –
The median price of the Genesis is $16,501 in Minnesota. The average annual insurance rate is $1329, which is 8% of the median price.
2. New Mexico –
The median price of a used Hyundai Genesis is $19,150 in New Mexico. The average annual insurance rate is $1370, i.e., 7% of the median price.
3. Arizona –
With a slightly higher median price ($21,888) but lower annual average rate of insurance ($1125), Arizona is one of the best states to buy a used Genesis. Though the median price is higher here, the recurring cost of insurance is lower in the long run.
If you’re considering only the insurance, the rates are very high in some states. The most expensive states to insure a Genesis are –
|State||Insurance average ($)||Median price ($)||Insurance percentage (%)|
In New Jersey, both the median prices as well as insurance average are extremely high. The good news for buyers from Montana and Michigan is the low median prices here. Buyers from states where the median prices are high can lower their overall costs by buying the vehicle from another state. However, buying insurance from other states is not an option.