lease

[bikerdude]

has anyone used the option to lease and buy, stinger dealer says I will get $7200 discount if I lease and then purchase in a year. anyone done this, is there a down side to doing it

 

[TurboTx]

That's what I did. Soon as my account went live on Kia Finance, I obtained the lease purchase price and used the pre-approval from my credit union to buy it. Super easy process.

 

[mjsteelega]

I plan to do the same. I may even wait until the end of the lease to buy it out as the lease money factor is fairly aggressive. Although I will have to keep an eye on inflation and interest rates for car loans as they may go up in the next year or two.


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[bikerdude]

If this such a good deal why don't more people do it, and why can't they offer as good a discount for a cash deal

 

[mjsteelega]

1. Not everyone can qualify for it. (The one with think that the majority the people looking at this price range vehicle would have a credit score high enough)
2. KMF makes money when you finance/lease. And even though it sounds simple, most people will not go through the hassle of getting another loan after the fact to buy out the lease. So they will just stick with the Kia Motor Finance lease/loan.


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[BriTay]

1. Not everyone can qualify for it. (The one with think that the majority the people looking at this price range vehicle would have a credit score high enough)
2. KMF makes money when you finance/lease. And even though it sounds simple, most people will not go through the hassle of getting another loan after the fact to buy out the lease. So they will just stick with the Kia Motor Finance lease/loan.


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Interesting. This actually sounds like the way to go. Not a hassle to me if it saves money....

 

[rockinray]

This is what I did. The money factor is pretty cheap right now so I too will watch and buy it out when the time is right.

As I remember there was $6700 lease cash available on the Premium model which is what I got.

Buy out at the end of the lease term is $20700.


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[JJT4406]

Hi Guys, New to the forum. Been enjoying all the great info I have found here. Thanks! My Optima SX lease is up in three months and going to trade up to a Stinger.Trying to work out budget to what level I want to swing. (sure wish the sunroof was a stand alone option) It would be the GT with AWD, safety, and sunroof... Alas, its $5K to get my sunroof in a GT1. So trying to understand this lease cash offer. Is the calculator online showing this lease cash option, or is this lease cash above this?
Trying to understand if a GT1 with AWD and safety package will be totalling $46,350 as per kia site, with or without the lease cash offer I read about in another section. If somebody would enlighten me, I would be grateful! This lease to buy sounds interesting. Thanks in advance!!!

 

[TurboTx]

Hi Guys, New to the forum. Been enjoying all the great info I have found here. Thanks! My Optima SX lease is up in three months and going to trade up to a Stinger.Trying to work out budget to what level I want to swing. (sure wish the sunroof was a stand alone option) It would be the GT with AWD, safety, and sunroof... Alas, its $5K to get my sunroof in a GT1. So trying to understand this lease cash offer. Is the calculator online showing this lease cash option, or is this lease cash above this?
Trying to understand if a GT1 with AWD and safety package will be totalling $46,350 as per kia site, with or without the lease cash offer I read about in another section. If somebody would enlighten me, I would be grateful! This lease to buy sounds interesting. Thanks in advance!!!

Welcome aboard. To answer you, the $46,350 is before the lease cash is applied (and assuming you pay the default $2000 down); they'll take another $5600 off, if you're going with a 36 month lease. Your taxes and fees will then be added to that amount.

Hope that answered you.

 

[JJT4406]

Thanks Sooo much! That answered my question. That will help quite a bit in a new lease for a GT1. I was hoping that was the case, but seemed too good to be true! Just have to try and find a GT1 in NY.