dealership offer on GT2

[geewiss]

2020 GT2 lease buyout option.

Opinions?
This doesn't seem like a very good deal to me.

$678/month on a 36 month, The buyout price at the end of the lease will be $24,959.00. Here is a breakdown of the lease quote:

Market Value Selling Price - $54,260.00
Total Saving - $13,600.00
Adjusted Price - $40,660.00
Taxable Fees (Estimated) - $750.00
Dealer Process Charge - $299.00
Tax - $3,138.54
Non Tax Fees - $271.00
Balance - $45,118.54

Horrible right?

 

[MerlintheMad]

Typical, not horrible, in my humble opinion. That's Out The Door, so, not bad. That's a bit high monthly payment. What kind of miles per year are you getting?

 

[geewiss]

It was for 12,000 miles a year.

I'm new to this lease thing, I normally always purchase.

The way I'm looking at this is...
So it appears the total cost of the car with buyout would be
total payments = 678x36 = 24408
buyout = 24959
total = $49367

Shouldn't I be able to negotiate a purchase/finance price much less than $49367? Maybe I'm looking at this lease thing all wrong?

 

[jellyman]

Simple way to look at Lease/Buyout is:
1. You lease it for $45k (using your numbers above)
2. Call KMF in couple days, ask for lease buyout (should be close to 45k)
3. You then find a lender for $45k, payoff KMF.
4. You bought the car for 45k (possible added sales tax depending on state)

-------------------------------
You should be concerned with lowering your numbers on #1. As that would be what your "purchase" price would be. I think 45k otd for '20 is not bad.

 

[Chark]

Lease cash is higher for a 24 month lease (if you're doing the buyout). Go to Edmunds.com and enter your ZIP to see what incentives are available in your area. AWD or RWD?

Best 2020 Kia Stinger Incentives, Rebates & Deals Near You | Edmunds

 

[johnnypantera]

Lease cash is higher for a 24 month lease (if you're doing the buyout). Go to Edmunds.com and enter your ZIP to see what incentives are available in your area. AWD or RWD?

Best 2020 Kia Stinger Incentives, Rebates & Deals Near You | Edmunds

I am in Mass and been working on numbers for a while. I have not seen the papers but via text this is what I have (numbers include 6.5% sales tax, reg fee and all other fees)....
2020 GT2 AWD Ceramic Silver 24/12 no money down for 60 days $850/mo 29804 residual 45k adj cap cost

IF these numbers really include taxes and fees, the buyout would be around 41-42k excluding taxes/fees. Seems like a great deal but I need to see the paper. I've also been going back and forth for a month and have them thinking about lifetime tires and wheels service

 

[RUFFSTUFF]

Did anyone not notice the ORIGINAL PRICE OF THE CAR?

 

[johnnypantera]

Did anyone not notice the ORIGINAL PRICE OF THE CAR?

The 54k msrp? Definitely, but I’m also looking at the poor residuals. If I buy a new car, especially during these crazy times, I’m trying to reduce my drive off loss as much as possible

 

[geewiss]

I guess to try and make this easier. What are you all seeing as best negotiate prices for a 2020 GT2 AWD? Not OTD pricing as ours will all be different as we are in different states.

 

[geewiss]

Did anyone not notice the ORIGINAL PRICE OF THE CAR?

Is this way off or something?

 

[MerlintheMad]

Did anyone not notice the ORIGINAL PRICE OF THE CAR?

Is this way off or something?

https://www.kbb.com/kia/stinger/2020/gt2/
I guess so. I wasn't watching carefully enough.

 

[namja]

https://www.kbb.com/kia/stinger/2020/gt2/
I guess so. I wasn't watching carefully enough.

It's not too off for a GT2 AWD but if RWD...wtf kinda add-ons do they have

 

[General_Vodka]

It's not too off for a GT2 AWD but if RWD...wtf kinda add-ons do they have

um, nitrogen filled tires and a full body massage?

 

[Lonz]

Your offer needs to be at least 10% off of MSRP, and then apply the lease rebate. 24 month lease rebate as of April 1st is $9500. The math works out this way:

MSRP: $54,260.

Dealer Extended Price: $48,834 (10% off of MSRP. Heck, right now, you might be able to get 12%-15% off of MSRP)

Less Rebate: $9,500

Adjusted Price: $39,334

Add Lease Acquisition Fee: $600

Add Doc Fee: $200

Adjusted Capital Cost: $40,134 (This is your lease buyout price, and what the amount the bank will finance).

You should buy out the lease immediately (within 30-60 days). Not too shabby to pay $40k for the $54k MSRP vehicle.

I did this back in October of last year (2019). Worked out perfectly!

Also, tell them absolutely NO dealer add-ons! They are completely worthless in the end, and you won't get any of that crap back on resale. If they try to slip in add-ons, tell them the deal is off!

Hope this helps!

Thanks!

 

[johnnypantera]

Awesome!! Thank you

Btw, I think I am close because their numbers include mass sales tax and reg fee but still awaiting lease sheet

 

[ltjammer]

Payment seems high to me, but seems to be typical of what dealers are quoting during the first go around in my experience. I just got into a 36/12 lease for $579/mth including tax here in Florida. It took expanding my dealer search radius from 75 miles to 200 miles. Most dealers quoted 670-720 first thing, some would move, some would not budge at all. Don't get me started on those ridiculous add-ons.

 

[johnnypantera]

Congrats on your deal. The payment will be higher on the 24/12 since I am looking for the lowest adj cap cost for the immediate lease buyout, ideally before I even make a payment but if after a payment that is deductible to calculate the buyout.