Hello from Minneapolis!

[kishen]

Hi everyone! I am very new to this forum, I got a GT2 Panthera Metal with Black interior like 3 weeks ago. I traded in my Jeep Cherokee KL V6 for this and i am still getting used to the lower ride height

I have been checking out the threads but just didnt get a change to introduce myself But I am really loving the stinger and I have already started with the mods (Sorry, i didnt have the patience to wait for a month). Also, i recently went on a road trip with a couple of friends and I was blown off my mind driving this car. However, the engine cut me off at 135MPH (All season tire) which was a bummer.

But anyways, really excited to be a part of this group!

 

[Kia Stinger]

Hi everyone! I am very new to this forum, I got a GT2 Panthera Metal with Black interior like 3 weeks ago. I traded in my Jeep Cherokee KL V6 for this and i am still getting used to the lower ride height

I have been checking out the threads but just didnt get a change to introduce myself But I am really loving the stinger and I have already started with the mods (Sorry, i didnt have the patience to wait for a month). Also, i recently went on a road trip with a couple of friends and I was blown off my mind driving this car. However, the engine cut me off at 135MPH (All season tire) which was a bummer.

But anyways, really excited to be a part of this group!

View attachment 33279

Welcome aboard! And thank you for signing up. Congratulations on your Stinger GT! Nice upgrade! I’m glad you found us...

 

[HerbieTheCar]

Welcome! Good to see another Minnesotan joining the cult! I'm from the Elk River area but I hope to see you on the road or at MN Cars and Coffee next year!

Which dealership did you go to to get your Stinger?

 

[kishen]

Welcome! Good to see another Minnesotan joining the cult! I'm from the Elk River area but I hope to see you on the road or at MN Cars and Coffee next year!

Which dealership did you go to to get your Stinger?

Oh that's nice, i am in Chanhassen.

I got my car from Jeff Belzer's at Lakeville.

 

[HerbieTheCar]

Oh that's nice, i am in Chanhassen.

I got my car from Jeff Belzer's at Lakeville.

I also got mine from Jeff Belzer's. Who was your sales rep?

 

[kishen]

I also got mine from Jeff Belzer's. Who was your sales rep?

It was Bob Burke, what about you? Seemed like a great guy. But it did take a while to negotiate the price. But had a very good experience with the dealership overall.

 

[CVD]

That’s funny. I purchased my white GT2 from Belzers a day or two after you bought the Panthera one. Also dealt with Bob, nice enough guy but the negotiations were painful.

Edit, different guy actually. I think my rep was Bob/Robert Soucherey rather.

 

[HerbieTheCar]

It was Bob Burke, what about you? Seemed like a great guy. But it did take a while to negotiate the price. But had a very good experience with the dealership overall.

Mine was Dan Volz. He's still pretty new to that dealership and is a super nice guy. Negotiations weren't really painful because I went prepared with questions and a car in mind. I leased mine with the intention of purchasing it after the lease. We went on a few test drives and told him how much I wanted to pay a month and was a done deal. The painful part was the fact it took 4+ hours for them to prep the car since it just got off the truck. I was there from 10AM-3PM.

 

[CVD]

I did the same with the lease buyout. They did a horrible job prepping my car, I brought it home and cleaned it up myself. They just ripped the foam blocks off the doors leaving the adhesive behind on the paint.
I negotiated the cap cost and they really struggled to work with that. They had “never heard of such a thing”, which I doubt.

I’m curious if you have completed your buyout process and if you were able to recoup the taxes you paid on the lease when you paid taxes on the purchase. I’m part way through, KMF just deposited my buyout check.

 

[kishen]

Mine was Dan Volz. He's still pretty new to that dealership and is a super nice guy. Negotiations weren't really painful because I went prepared with questions and a car in mind. I leased mine with the intention of purchasing it after the lease. We went on a few test drives and told him how much I wanted to pay a month and was a done deal. The painful part was the fact it took 4+ hours for them to prep the car since it just got off the truck. I was there from 10AM-3PM.

That's great!

I was in touch with my guy for about 2 weeks over email. I wanted to lease too and buy it immediately. Finally went to the dealership to look at the car in person and did some test drives. It took me about 6 hours to negotiate the MSRP down to my number. I knew he wouldn't let me go without making a deal. I was there from about 10am to 4pm on a Saturday. However I decided to take delivery on a Monday, so I didn't have to wait for the car to be prepped.

And because I traded in my Jeep, they gave me a loaner car free of charge for 3 days. It was a 2020 traverse. It was thoughtful of them.

 

[kishen]

I did the same with the lease buyout. They did a horrible job prepping my car, I brought it home and cleaned it up myself. They just ripped the foam blocks off the doors leaving the adhesive behind on the paint.
I negotiated the cap cost and they really struggled to work with that. They had “never heard of such a thing”, which I doubt.

I’m curious if you have completed your buyout process and if you were able to recoup the taxes you paid on the lease when you paid taxes on the purchase. I’m part way through, KMF just deposited my buyout check.

Yes, I had the same issues. Also there were some scratches on the door panel and fenders. So I'm actually getting it fixed today. Also talked them into detailing the entire car outside and remove all swirl marks on the car. Planning to do ceramic coating myself before it starts snowing.

And yes, I did start the buyout process. It was Fairly simple. I requested for buyout packet from Kia over phone. The buyout amount included my existing payments that were made on the car (1st payment during purchase and payment for 2nd month). In MN they don't collect motor vehicle taxes, so I've to pay that myself at the DMV.
However I gave the packet to my credit union and they sent them a check. It's cleared, I'm now waiting for the title and once I get that, will pay taxes and get title transfered to my CU.

Edit: typos

 

[CVD]

Right, with the lease buyout we will have to pay full sales tax at the DMV, but since MN collects tax on the full lease at the time of signing we’ve all paid somewhere between $800-1500 in taxes for the lease which, in theory should be refunded or deducted from the sales tax. I’m just very unclear on how that process works.

 

[kishen]

That’s funny. I purchased my white GT2 from Belzers a day or two after you bought the Panthera one. Also dealt with Bob, nice enough guy but the negotiations were painful.

Edit, different guy actually. I think my rep was Bob/Robert Soucherey rather.

Oh, that's right. There were 2 white GT2's there. And few days later there was only 1. Congrats!

 

[kishen]

Right, with the lease buyout we will have to pay full sales tax at the DMV, but since MN collects tax on the full lease at the time of signing we’ve all paid somewhere between $800-1500 in taxes for the lease which, in theory should be refunded or deducted from the sales tax. I’m just very unclear on how that process works.

That's interesting. I don't remember paying $800-1500 in taxes. I've only payed sales tax on the 2 payments and that's accounted for in the buyout amount is what I understand. And I have to pay taxes only on the final buyout quote now.

Correct me if I'm wrong. This is new for me also.

 

[CVD]

Check your paperwork from finance. Look for line 14, that’s your total taxes and fees. Mine was $1628.97 but I don’t think all of that is lease taxes. But I do think at least $849 of that was sales tax for the full term of the lease.

 

[kishen]

I will take a look and get back to you later. Thanks for bringing this up, I hadn't noticed.

 

[kishen]

Check your paperwork from finance. Look for line 14, that’s your total taxes and fees. Mine was $1628.97 but I don’t think all of that is lease taxes. But I do think at least $849 of that was sales tax for the full term of the lease.

okay, so i did look into line 14 about taxes. Here is what the finance guy at the dealership explained to me. He told me that value (in your case $1629) is an estimated value. They arrive at this number through your monthly payments. In MN your monthly lease charges include a sales tax instead of MN Motor vehicle tax. So based on that, the estimated (sales) tax you will pay through the end of your lease is $1629. I have similar charge on my Finance papers too, and it doesn't add up when i did the math based on the MSRP, Rebate, trade in and any other amount due during purchase. This amount is only an estimate.

Hope that clarifies your concern.

 

[MerlintheMad]

Welcome to the forum. I can only share my Utah experience: Kia mailed the title after my buyout cheque cleared and the total wait time was less than a month. No hitches. All taxes were included in the buyout. My dealer did the licensing and paid the DMV so I haven't darkened a doorway of the DMV in any of this process.

 

[CVD]

okay, so i did look into line 14 about taxes. Here is what the finance guy at the dealership explained to me. He told me that value (in your case $1629) is an estimated value. They arrive at this number through your monthly payments. In MN your monthly lease charges include a sales tax instead of MN Motor vehicle tax. So based on that, the estimated (sales) tax you will pay through the end of your lease is $1629. I have similar charge on my Finance papers too, and it doesn't add up when i did the math based on the MSRP, Rebate, trade in and any other amount due during purchase. This amount is only an estimate.

Hope that clarifies your concern.

I’m definitely not an expert but I’m also not sure about what the finance guy is saying.
Car Leasing Fees Charges and Taxes Explained - by LeaseGuide.com
According to this website: “Although most states only charge sales tax on individual monthly payments (and down payment, if any), some states, such as Texas, New York, Minnesota, Ohio, Georgia, and Illinois, require the entire sales tax to be paid up front, based either on the sum of all lease payments or on the full sale price of the vehicle, depending on the state. Customers often choose to roll up-front taxes back into the capitalized cost and finance it with the lease. See below for more details.“

 

[kishen]

I came across this article from MN State revenue website. They provide information on Lease cancellation and Tax credit.
Not sure if in our case it is considered lease cancellation. But if I understand this correctly, we can get tax credit on the amount that was paid as Tax on Line 14.

Lease Cancellation

Within 90 Days or Lemon Law

Sales tax may be refunded if a lease is cancelled within 90 days or the vehicle is returned to the manufacturer under Minnesota’s Lemon Law. The customer may request a refund of the total sales tax paid minus any tax due for the period the vehicle was used.

Tax Credit Calculation
The tax credit is calculated with a prorated lease term based on the number of full months left in the lease:

Months remaining in the lease ÷ Months in the original lease agreement = Prorated lease term
Prorated lease term x Sales tax paid on the lease = Tax credit

Example: A 36-month lease is cancelled midway through the 12th month. There are 24 months left in the lease. The customer paid sales tax of $1,375 on the vehicle lease. The tax credit is calculated as follows:

Prorated lease term = 24 ÷ 36 = 0.67
Tax credit = 0.67 x $1,375 = $921.25