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Do you plan to Finance or Lease the Kia Stinger?

Do you plan to Finance or Lease the Kia Stinger?

  • Finance

    Votes: 20 58.8%
  • Lease

    Votes: 14 41.2%

  • Total voters
    34

ghedoicy

Member
Staff Member
Messages
269
Reactions
38
State
AZ
Country
United States
What I Drive
2018 Stinger GT RWD
#21
What are the benefits of a one pay lease?

A one pay lease can offer the following advantages:

Less expensive than a traditional lease
Less expensive than paying cash if you like driving newer cars
Easier credit approval
No monthly payments

We?ll expand on each one:

Less expensive than a traditional lease
Two factors make a one pay lease less expensive than a traditional lease.

Less interest ? Because you are making an upfront payment that covers the depreciation of the car over the period of time you?ll drive it, you don?t have to pay interest on this amount. So rather than paying interest on the full cost of the car, you only pay interest on the residual value, or the value of the car at the end of the lease, which is usually about 60% of the MSRP.
Lower interest rate ? Some manufactures (including Audi, Mercedes-Benz, Lexus and Porsche) will discount the interest rate for one pay leases. The savings can be significant?for example a 0.4% interest rate for a one pay instead of 2.8% for a traditional lease.

Less expensive than paying cash if you like driving newer cars

The math is a little more straightforward on a one pay lease vs. a cash purchase. If you paid the same purchase price of $56,500 up front and then sold the vehicle three years later for the residual value of $34,325, it would cost you a total of $22,175+$4,944 (sales tax on the full purchase price, assuming 8.75% tax), or $27,119 in total. Here, a one pay lease saves just under $1,000 (again this ignores the interest you could be earning on that extra money). An additional benefit is that you don?t have to sell the car at the end?simply turn it in.

Easier credit approval

Because you are making the entire payment upfront, most manufacturers will qualify a buyer who wouldn?t ordinarily be approved for a traditional lease. This is an attractive option for clients who have recently relocated to the country, have a limited credit history, or had an event that is impacting their credit. A one pay lease allows these clients to pay less upfront than they would to buy the vehicle outright.

No monthly payments

Some people just don?t like the hassle of another monthly payment. A one pay lease eliminates this while still achieving all the benefits of leasing.

-Matt
 
Messages
120
Reactions
8
State
IA
Country
United States
#22

ghedoicy

Member
Staff Member
Messages
269
Reactions
38
State
AZ
Country
United States
What I Drive
2018 Stinger GT RWD
#24
I think he wants to lease then finance it to take advantage of the lease cash. There are a lot of people doing that since there is no incentive on buying the Stinger right now. Just leasing.

-Matt
 
Messages
100
Reactions
14
State
UT
Country
United States
What I Drive
stinger GT2
#26
I get it, mine is a not a one payment lease then. So the 4 payments is right
 

MurlinatoR

1000 Posts Achieved
Staff Member
Messages
1,231
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303
State
IA
Country
United States
What I Drive
Lot's of Kia's
#27
I get it, mine is a not a one payment lease then. So the 4 payments is right
Not correct.

You can pay it off as soon as Kia has your account finalized and complete. Usually within around 3 weeks.

Repeat, there is NO penalty for paying it off early. Only the $300 fee for buying out the lease. That applies no matter when you buy it out.

The dealer told you not to until 4 months later because the DEALER get's charged back if the customer does.
 

TurboTx

500 Posts Achieved
Staff Member
Messages
576
Reactions
196
State
CO
Country
United States
#28
The dealer told you not to until 4 months later because the DEALER get's charged back if the customer does.
Wait, so my slimy dealership got charged back when I did a lease buyout a week later?
Excellent news. [clap][woot]
 

MurlinatoR

1000 Posts Achieved
Staff Member
Messages
1,231
Reactions
303
State
IA
Country
United States
What I Drive
Lot's of Kia's
#29
Wait, so my slimy dealership got charged back when I did a lease buyout a week later?
Excellent news. [clap][woot]
LMBO

Yes, that's exactly what I'm saying. ;-)

*shameless plug*

I know a dealer that is not slimy, disrespectful, or ripping anyone off!!!!! LOL
 
Messages
18
Reactions
2
State
Non-US
Country
United States
#30
Can someone explain why it would be good to do an immediate buyout on a lease?

Sent from my SM-N950U using Tapatalk
 

ghedoicy

Member
Staff Member
Messages
269
Reactions
38
State
AZ
Country
United States
What I Drive
2018 Stinger GT RWD
#31
Can someone explain why it would be good to do an immediate buyout on a lease?

Sent from my SM-N950U using Tapatalk
There are plenty of threads on this. Please use the search button.

-Matt
 


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