What did you pay for your Kia Stinger?

[DurtyByrd]

I dont have any exact numbers for you but I feel like the 2.0s are in much better supply at the moment and are easier to negotiate on. Plenty of people here have had success negotiating on the GTs as well, which are in very short supply, so the 2.0 should be a piece of cake. Find the invoice price or dealer cost (it's posted on this forum somewhere, I'll have to go digging for it) and work from there. Make sure you involve as many dealers as you can so that you get them competing against each other. Dont be afraid to drive a couple hours away if necessary. You might even be able to get one at BELOW invoice.

Good luck! And welcome to our forums by the way!

Thanks for the information!

I am looking those trims as well. Haven't seen any confirmed purchases yet. Dealers in my area have 2.0s listed at 30k, so you should at least be able to get that, maybe a grand or so less. I've seen Premiums locally at 35k.

Yeah, that is what I am seeing as well. Some dealers in my area are showing the retail price with the lease incentives applied as the sale price.
For example:

• Retail Price:$35,995
• Discounts:$9,010
• Sale Price:$26,985

I have an appointment with that dealer on this weekend. I will let you all know how it goes...

 

[STNGRNV]

The prices that I quoted are before the lease incentives. Granted we do have dealers who have 4k ADM markups, too.

 

[MartinC]

I haven't signed the final paperwork yet, but here is the deal I took to my local dealer which they matched.

View attachment 2067

Soulvo8
I've run some calculations on your lease deal and something doesn't seem right. You have the final financed amount of $39,402 and the residual value is $27,250. This means that you are financing $12,157 within the lease. The lease rate of .00198 is equivilant to an APR of 4.75%. If you finance $12,157 for 36 months at 4.75%, the interest paid should be about $910 in addition to your principal. Your payment of $469.66 for 36 months comes out to $16,907 which means you are paying $4,750 more than the amount you are financing within the lease. This seems incredibly higher than an expected interest paid amount of $910 over that period. Someone else please chime in if my math doesn't make sense but it seems to me that the dealer is hiding some dollars within your lease payment that you shouldn't be paying.

 

[Chris]

Soulvo8
I've run some calculations on your lease deal and something doesn't seem right. You have the final financed amount of $39,402 and the residual value is $27,250. This means that you are financing $12,157 within the lease. The lease rate of .00198 is equivilant to an APR of 4.75%. If you finance $12,157 for 36 months at 4.75%, the interest paid should be about $910 in addition to your principal. Your payment of $469.66 for 36 months comes out to $16,907 which means you are paying $4,750 more than the amount you are financing within the lease. This seems incredibly higher than an expected interest paid amount of $910 over that period. Someone else please chime in if my math doesn't make sense but it seems to me that the dealer is hiding some dollars within your lease payment that you shouldn't be paying.

When you lease a car you are paying interest on the entire value.
So you need to look at the the amount you pay as as two loans. 1 is the interest and principal of the amount to you are paying. ( Sale price - residual) the other you are basically taking an interest only loan on the residual amount.

 

[MartinC]

When you lease a car you are paying interest on the entire value.
So you need to look at the the amount you pay as as two loans. 1 is the interest and principal of the amount to you are paying. ( Sale price - residual) the other you are basically taking an interest only loan on the residual amount.

Based on your reply Chris, the numbers on his lease add up almost exactly. I leased once years ago before I really understood the mechanics of the process. As I've looked at leases in recent memory, they've always been on money factors representing a very low interest rate. That said, this higher rate of 4.75% really drives the lease payment up substantially. The fact that Kia gives $7200 of incentive more than offsets the bad money factor.

 

[Chris]

Based on your reply Chris, the numbers on his lease add up almost exactly. I leased once years ago before I really understood the mechanics of the process. As I've looked at leases in recent memory, they've always been on money factors representing a very low interest rate. That said, this higher rate of 4.75% really drives the lease payment up substantially. The fact that Kia gives $7200 of incentive more than offsets the bad money factor.

I'm not sure the vlaue is really there. If they were giving you the 7200 and the MF wasn't ridiculous, I would agree and say it's a good deal, but that MF is crazy. If I was buying right now, I would lease it and buy out the lease after the first month..

 

[MartinC]

I'm not sure the vlaue is really there. If they were giving you the 7200 and the MF wasn't ridiculous, I would agree and say it's a good deal, but that MF is crazy. If I was buying right now, I would lease it and buy out the lease after the first month..

If you buy out the lease right away, do you avoid the full carrying cost on the residual value? With that money factor, that's almost $4K. If so, my thought was to do the lease, buy it out right away and then finance the remaining amount - it's still a brand new car from a bank's perspective so their rates should reflect that even thought it was leased for a few minutes. You could reduce the overall purchase price by at least a few thousand dollars.

 

[OnceHeaven]

You guys are really making me green in envy....

Well, the stinger just launched here over the weekend, and this is what it cost in Singapore.

 

[iclicku]

Google is telling me that still tranlates to 158k for the GT?!

 

[OnceHeaven]

thats right buddy. even Vin Diesel had the shock of his life.

 

[Kia Stinger]

You guys are really making me green in envy....

Well, the stinger just launched here over the weekend, and this is what it cost in Singapore.View attachment 2192

Welcome aboard, @OnceHeaven! Thank you for signing up. Man, I feel your pain. We have another member here from Singapore who's given us some lessons on how things work over there. If I recall, you basically rent your cars for about ten years. Am I right? And then there's a fairly large fee to buy it afterwards if you want to?

 

[OnceHeaven]

Welcome aboard, @OnceHeaven! Thank you for signing up. Man, I feel your pain. We have another member here from Singapore who's given us some lessons on how things work over there. If I recall, you basically rent your cars for about ten years. Am I right? And then there's a fairly large fee to buy it afterwards if you want to?

i wouldn't so much as to say "rent". For the current situation, you basically pay a downpayment for the car, which is 50% of the sell price, and repay the remaining in installments of up to 7yrs. You could pay in full if you're feeling rich. In a way, you do "rent" the vehicle up to the point you full repay the loan. But you're only the owner for a couple more years before it becomes scrap metal.

I would think most of my fellow country men (car guys) envy folks outside of Singapore. For being able to purchase the car you like/love at much lower price, and if you like/love it so much, you can even keep it in the family and pass it on to your next gen.

 

[Kia Stinger]

i wouldn't so much as to say "rent". For the current situation, you basically pay a downpayment for the car, which is 50% of the sell price, and repay the remaining in installments of up to 7yrs. You could pay in full if you're feeling rich. In a way, you do "rent" the vehicle up to the point you full repay the loan. But you're only the owner for a couple more years before it becomes scrap metal.

I would think most of my fellow country men (car guys) envy folks outside of Singapore. For being able to purchase the car you like/love at much lower price, and if you like/love it so much, you can even keep it in the family and pass it on to your next gen.

Yeah, that's so strange to me that you can't keep your cars. I mean, I don't keep cars for long anyway. So I suppose I'd be fine. But what if I found I car I never wanted to get rid of? Something so great I always wanted to keep it? I like knowing that I "can" if I want to...

 

[OnceHeaven]

We have this "certificate" here (it's actually a freaking tax that's phrase in a nicer way as an excuse to get your money), that you have to have when you buy the car. It's called the "Certificate of Entitlement" (COE). It's purpose is to curb the traffic jams, by imposing high taxes on vehicles so not any Tom, Dick and Harry gets to own 1.

Actually, if you decide that you car is still in a drive-able condition for the next 10yrs, you can renew your COE. That is, to pay the full amount for the COE all over again.

Right now our COE is at $41kSGD/$31013.62USD. That's half the price of the Stinger in America. I'm now driving a K5 which I bought in Sept 2012. The COE alone was $84,389SGD/$63834.34USD.

It sucks to be a car guy in Singapore, let me tell you that...

 

[iclicku]

W.
T.
F.

 

[Kia Stinger]

We have this "certificate" here (it's actually a freaking tax that's phrase in a nicer way as an excuse to get your money), that you have to have when you buy the car. It's called the "Certificate of Entitlement" (COE). It's purpose is to curb the traffic jams, by imposing high taxes on vehicles so not any Tom, Dick and Harry gets to own 1.

Actually, if you decide that you car is still in a drive-able condition for the next 10yrs, you can renew your COE. That is, to pay the full amount for the COE all over again.

Right now our COE is at $41kSGD/$31013.62USD. That's half the price of the Stinger in America. I'm now driving a K5 which I bought in Sept 2012. The COE alone was $84,389SGD/$63834.34USD.

It sucks to be a car guy in Singapore, let me tell you that...

Yeah. Man, I would need a different hobby if I lived in Singapore... It looks like a wonderful place and I'd love to visit...

 

[Brand]

2.0 Premium-Blue
611 a month
36months/15k
They sold me on the premium wheel and tire insurance.

 

[Kia Stinger]

2.0 Premium-Blue
611 a month
36months/15k
They sold me on the premium wheel and tire insurance.

Well congratulations, Brand! How was it driving home? What did your Stinger replace?

 

[Brand]

Forgot to mention I terminated my Optima lease 5 months.
I was a little worried that the rebates wouldn’t get any better than they currently are.

 

[ralzod]

They sold me on the premium wheel and tire insurance.

Having seen this post, I don't blame you (and I recently blew out a tire and killed a 16" alloy myself, so I feel his pain).