Kia Stinger Out The Door Price Thread

[Dan_Harkinz]

Still want to get the GT1 but since this crazy heat in AZ wondering if the ventilated seats in the GT2 would be worth splurging on. Further there's all this talk about 2019 models maybe debuting soon. So wonder if it's worth waiting for those to see if there's any significant price changes to the 2018 and what would be included in the 2019.

 

[ghedoicy]

Still want to get the GT1 but since this crazy heat in AZ wondering if the ventilated seats in the GT2 would be worth splurging on. Further there's all this talk about 2019 models maybe debuting soon. So wonder if it's worth waiting for those to see if there's any significant price changes to the 2018 and what would be included in the 2019.

I'd wait... When the time comes let's go buy together. See about a deal on 2 GT2s.

-Matt


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[MurlinatoR]

Still want to get the GT1 but since this crazy heat in AZ wondering if the ventilated seats in the GT2 would be worth splurging on. Further there's all this talk about 2019 models maybe debuting soon. So wonder if it's worth waiting for those to see if there's any significant price changes to the 2018 and what would be included in the 2019.

2019 Stinger's aren't breaking for months. I'm guessing it will be around Halloween.

 

[Pieceofchum]

I am a bit confused about this lease cash thing. If I negotiate a price then tell my dealer I want to lease the vehicle at the negotiated price. Then after two weeks or so I buyout the lease then I can save around $6,500 more money on the vehicle? That seems a bit wrong to me won't Kia just charge me a huge early termination fee?

 

[Dan_Harkinz]

I mean from a morale standpoint it might be wrong but from a wallet perspective...

 

[Pieceofchum]

Ha ha I mean it sounds to good to be true. Does Kia charge an early buyout fee. I will also need to check if a Massachusetts dealer would do this type of deal.

 

[ghedoicy]

Ha ha I mean it sounds to good to be true. Does Kia charge an early buyout fee. I will also need to check if a Massachusetts dealer would do this type of deal.

No early payoff penalty. Desler has nothing to do with it... Get your purchase price, switch to lease, wait until you get access to your account online and payoff.

-Matt


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[MarkyMark]

I mean from a morale standpoint it might be wrong but from a wallet perspective...

Firstly, that's not exactly how a lease to buyout works. If only it were that simple. Adjusted Gross Capital Cost, No, you won't end up getting $6,500 off the car. Once you go study how the lease works and the Residual Value (around 54% of the retail price), Depreciation Amount, Rent Charge (Residual Value + Adjusted Capital Cost x Money Factor), and get all the numbers in place, you'll quickly learn it ins't like you are getting $6,500 off the price of the car PLUS the amount you negotiated down.

And no, this is not unethical to do this. Kia Financial offers these programs legally, and lays out the terms and how they work. It is up to you if you how you choose to utilize their program. This is much like a Credit Card company offering $500 if you spend $6k on their card in the first 3 months. You can do that and cancel the card. Again, nothing wrong with this. But the Credit Card companies, like lease deals with financial companies, know about 2% of everyone actually use their programs in this fashion. Rather, people carry balances, pay lots of interested, pay the annual card fee, etc...

They all know the % of people using the program for customer benefit, and their numbers are all baked to take in those folks. Perfectly ethical, thus perfectly moral.

Good luck!

 

[Pieceofchum]

Depreciation Amount, Rent Charge (Residual Value + Adjusted Capital Cost x Money Factor), and get all the numbers in place, you'll quickly learn it ins't like you are getting $6,500 off the price of the car PLUS the amount you negotiated down

Ok so my plan would be to negotiate a price which I have already done I can get a GT2 for $47,200. Then I plan to tell the dealer that I want to lease the vehicle take the lease cash and then get a loan for 2.74%/65months and buyout the lease within the first month. So you state that I would not actually get $6500 off the car, so with the plan I have outlined approximately how much would I reduce the amount by? I only ask because this seems like a lot of effort so if I am not saving a significant amount then I would straight out purchase the vehicle and save the effort.

Thanks

 

[ghedoicy]

Ok so my plan would be to negotiate a price which I have already done I can get a GT2 for $47,200. Then I plan to tell the dealer that I want to lease the vehicle take the lease cash and then get a loan for 2.74%/65months and buyout the lease within the first month. So you state that I would not actually get $6500 off the car, so with the plan I have outlined approximately how much would I reduce the amount by? I only ask because this seems like a lot of effort so if I am not saving a significant amount then I would straight out purchase the vehicle and save the effort.

Thanks

You will save that... He meant you don't really save it if you lease for the full term. As in they are getting you (us) so don't feel so bad about what you're doing. They'd make it all back, and then some, via the astronomical MF.

-Matt


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[Pieceofchum]

You will save that... He meant you don't really save it if you lease for the full term. As in they are getting you (us) so don't feel so bad about what you're doing.

Someone else thought I was stating that I felt doing this was somehow wrong. I just meant it seemed to good to be true. I will never feel badly about saving money on a car and I am obliged to get the best deal I can for my family.

Thanks for the info I will see if a dealer will do this where I live. I wonder if anyone on this forum has done this type of deal with a kia dealer in Massachusetts?

One more question I have a trade-in so how does a lease impact the taxes I pay since in my state I would pay the difference between purchase price and trade allowance. For a lease you would only pay taxes on the value you use so the residual would still be taxable when you do the buyout.

Thank

 

[MurlinatoR]

Someone else thought I was stating that I felt doing this was somehow wrong. I just meant it seemed to good to be true. I will never feel badly about saving money on a car and I am obliged to get the best deal I can for my family.

Thanks for the info I will see if a dealer will do this where I live. I wonder if anyone on this forum has done this type of deal with a kia dealer in Massachusetts?

One more question I have a trade-in so how does a lease impact the taxes I pay since in my state I would pay the difference between purchase price and trade allowance. For a lease you would only pay taxes on the value you use so the residual would still be taxable when you do the buyout.

Thank

You pay full tax when you lease. You only get the tax credit when you finance.

You will lose $950 of the $6,500 because of the lease acq fee and the buy out fee. But still, you end up $5,500 ahead. I'm a dealer. I encourage all of my customers to purchase this way.

Your trade equity (or negative equity) is all factored into your lease portion. If your residual is 53%, then your lease contract is for 47% of MSRP before discounts, rebates, fees, and trade.

Also, we have a couple of different threads where I discuss this process at length with lots of owners. Just hit the search^^^

 

[Pieceofchum]

You pay full tax when you lease. You only get the tax credit when you finance.

You will lose $950 of the $6,500 because of the lease acq fee and the buy out fee. But still, you end up $5,500 ahead. I'm a dealer. I encourage all of my customers to purchase this way.

Your trade equity (or negative equity) is all factored into your lease portion. If your residual is 53%, then your lease contract is for 47% of MSRP before discounts, rebates, fees, and trade.

Also, we have a couple of different threads where I discuss this process at length with lots of owners. Just hit the search^^^

Yes I saw your thread last night as I was researching it is a very interesting read.

Though for me it might not work out well here is why.

I currently have two cars to trade where I am receiving $45k combined as a trade allowance and giving me $5000 as a down payment so I would pay $125 in taxes. So for a $47k car in Massachusetts that is approximately $2,800, then I lose $950 for the acquisition and buy-out fees, then I lose the better financing 0.9%/75months versus 2.74%/65months which means if I go to term I would pay an additional $2k in interest. So I would only save possibly $750 by doing that deal which isn't enough for the hassle.

I am going to call the Mass RMV and ask them if I can still get a credit since I purchased a car within the year that I will be trading maybe that will save it for me not sure but otherwise probably straight out purchase is better for me.

I wish you were around the New England area so you could advise me as I have an extremely complex situation that will ultimately work out well but will require a lot of risk with Kia Dealers I have dealt with as they try every trick in the book to mess with you at least so far. I wish there was a dealer I could trust that I knew the owner or something like that so I could just relax and not stress about this so much.

 

[MarkyMark]

You will save that... He meant you don't really save it if you lease for the full term. As in they are getting you (us) so don't feel so bad about what you're doing. They'd make it all back, and then some, via the astronomical MF.

-Matt


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Matt may be able to give more guidance regarding this thought, but the dealer does not need to know anything about your buyout plans whatsoever. The dealer ? in the end ? will have nothing to do with it.

I am not sure if the dealer gets stung with quick buyouts in terms of their commission or bonus structure? I do not know. But I know if KMF isn't getting their Lease Cash back over time, well, if it isn't good for Kia it probably isn't great for the dealers. This is how I am thinking about it, thus I do not plan on informing the dealer of my buyout, just work with them to get the lowest initial pricing, the lower of the two Money Factor options (worse case in case disaster happens in the family and suddenly I'm stuck with having to lease the full term), etc...

Sounds like you have a great starting price, and if they will hold that price for the lease (instead of playing games with you at that point) bravo!

 

[Dan_Harkinz]

Firstly, that's not exactly how a lease to buyout works. If only it were that simple. Adjusted Gross Capital Cost, No, you won't end up getting $6,500 off the car. Once you go study how the lease works and the Residual Value (around 54% of the retail price), Depreciation Amount, Rent Charge (Residual Value + Adjusted Capital Cost x Money Factor), and get all the numbers in place, you'll quickly learn it ins't like you are getting $6,500 off the price of the car PLUS the amount you negotiated down.

And no, this is not unethical to do this. Kia Financial offers these programs legally, and lays out the terms and how they work. It is up to you if you how you choose to utilize their program. This is much like a Credit Card company offering $500 if you spend $6k on their card in the first 3 months. You can do that and cancel the card. Again, nothing wrong with this. But the Credit Card companies, like lease deals with financial companies, know about 2% of everyone actually use their programs in this fashion. Rather, people carry balances, pay lots of interested, pay the annual card fee, etc...

They all know the % of people using the program for customer benefit, and their numbers are all baked to take in those folks. Perfectly ethical, thus perfectly moral.

Good luck!

I see, goes to show what I know.

Anyway about to get this GT1 let's see how screwed I got... Willingly

 

[MarkyMark]

I see, goes to show what I know.

Anyway about to get this GT1 let's see how screwed I got... Willingly

Meh, I'm sure you did just fine. The goal of a dealer is always to have people leave thinking they got a great deal, so run with it and enjoy your new rig!

 

[Dan_Harkinz]

GT1 with assist package and dealer vapor service OTD was $46,531.79.

However looking at the numbers it makes no sense

http://imgur.com/dpEJUjT

Oh well

 

[MarkyMark]

GT1 with assist package and dealer vapor service OTD was $46,531.79.

However looking at the numbers it makes no sense

http://imgur.com/dpEJUjT

Oh well

Congrats! Enjoy!

NOTE: Can't open that link. Hmpf....

 

[350zrb]

Paid $41k for white GT.
I got the car and 3 options at invoice. After $2000 discount and tax and fees.

 

[ghedoicy]

GT1 with assist package and dealer vapor service OTD was $46,531.79.

However looking at the numbers it makes no sense

http://imgur.com/dpEJUjT

Oh well

Whatttt?

-Matt


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