Lease then Buyout - Contract Explanation

[Waynerm002]

Yes I leased it and trying to buy it out. The credit union wants a bill of sale and Kia is not responding to the requests...

MY CU took my buyout info, contacted KIA when I was on the phone to confirm the amount, cut me a check for it, I sent it to KIA and once they cashed it and it showed paid, I started to ask for the title. It came about 3 weeks later. The only thing KIA asked for from my was the odometer statement (of course the payoff check was needed first), I faxed it to them multiple times just to make sure they got it and then got the title, got the car re-titled and that process is now done.

 

[rippingpants]

I try every day. It says invalid VIN..

Give them a call. If they don't have you in the system, contact your dealer.

 

[mulepic]

It took 2 months before my kmfusa profile was available, but this was mainly b/c the dealer needed to correct the documentation and dragged their feet doing so. 4 weeks isn't unheard of, but You should call kia financial 855.278.0432
and ask if your documentation has been submitted by the dealership and is complete. I called them every other day to find out the status of my paperwork and called the dealership to make them aware of any mistakes....I had to resign twice.

Once kia financial approves the paperwork it goes on to kmfusa.com then you'll get an online profile. Their customer service number is 1.866.331.5632 I called them weekly for 3 months. I took deliver of my car in middle July and didn't have my title in-hand till middle of October. Just stay on it.

 

[Jimbeaux]

KMF balloon loan sheet uploaded. No 2019 Stingers. List allowable states. Finding most dealers don’t want it or don’t know about it. Dealers are now mini banks who make their money financing 7 year loans.

 

[Brandon V]

Thoughts on this lease offer? Sorry for bad quality. Should I put money down? I am planning on doing a buyout to own after 1-2 months. Anything I should ask for from the dealer?

 

[Bugout]

Decent numbers. Don't put anything down unless you plan on buying it out immediately. If the car gets totaled before the buyout goes through you lose it all.

 

[sergey]

how did you get 12k rebate?

 

[robz32]

Are all those options currently installed on the car? Whats "Nitro"?

That Dealer fee is kind of high

 

[sergey]

ask to not charge you for any accessories, and 3k dealer discount is atrocious that late in the year. I had dealer begging me to buy yesterday with 8k discount I didn't yet.

 

[brancky3]

Are all those options currently installed on the car? Whats "Nitro"?

That Dealer fee is kind of high

Nitrogen-filled tires for $149. lolol

 

[sergey]

imagine, he walks into dealership as a saviour, to relief them from that 2018 GT2 stinger in the end of 2018, and what he gets? Nitrogen filled tires for $150. I'd ask for $150 more of discount if id be offered them.

 

[mulepic]

Yep, lots of junk fees on there. But at the end it's about where I ended as well. $37k adj cap. cost then tax, title, junk fee, etc. = total payoff $39,500.

 

[MerlintheMad]

how did you get 12k rebate?

This: I've not heard of such a yooge rebate before. Whence cometh it from? Maybe they are just inflating the rebate and using that to pad the discount? Why, though?

That price seems like a good one for a brand new GT2. So how one arrives at a nice final price is kind of pointless to worry about; it's their numbers game. Final price is the only thing that matters.

 

[Indy499]

This: I've not heard of such a yooge rebate before. Whence cometh it from? Maybe they are just inflating the rebate and using that to pad the discount? Why, though?

That price seems like a good one for a brand new GT2. So how one arrives at a nice final price is kind of pointless to worry about; it's their numbers game. Final price is the only thing that matters.

They're combining lease cash (8k), regional AWD bonus (1k) and lease cash (3k). They shouldn't be able to do that, but who's gonna complain about getting an extra 3k rebate?

 

[Menissalt]

nevermind

 

[Brandon V]

how did you get 12k rebate?

Not sure but I am not going to disagree with them.

 

[Brandon V]

Well the dealer took off all the add-ons and my final price is 39,600. I am not going to put money down and will buyout the car after it is in the KMF system. Thanks for all your help. I did not even think about doing the lease then buyout options when I started this process. I will hopefully welcome home my new GT2 tomorrow afternoon.

 

[Waynerm002]

That’s a better price for that car, let us know when you get it.

 

[Brandon V]

Well, the lease is signed and the car is mine. Next step will be contact KMF in the next month or so to get my buyout figure. I am assuming it is around 41000 + (rent + highway use tax for the number of payments). Would that be correct. I also have to pay a 3% highway tax (our sales tax in NC) at title transfer after the buyout. It will be about a 7-8 thousand savings if all goes well. I have attached the important section of lease for reference.

 

[x4nd3r05]

KMF balloon loan sheet uploaded. No 2019 Stingers. List allowable states. Finding most dealers don’t want it or don’t know about it. Dealers are now mini banks who make their money financing 7 year loans.

Had a dealer offer me 5000 bonus cash on a 2019. Still didn't bring down the price enough for me. Couldn't agree on 46,900 otd for ceramic grey gt2 awd. Will wait til the bonus cash reaches 7700 again for 2019.