2020 GT1 or GT2 Lease Guidance

[jd284]

Thanks JD, I gather you are also doing a purchase versus lease? Your discount is clearly stronger as well. I'm hoping for additional replies to try and see what other lease numbers people are getting.

Yeah i plan to buy out after a month or two. I have a loan lined up 2.39% for 72 mo but i may put more down for a 5 yr. This is definitely a long term car for me.

I contacted at least 8-10 dealers and only a few really took the time to iron out the details with me. Keep working the dealer discount and shopping around!

 

[KGT1]

Not to derail but I got my Stinger around this time last year with these specs below. I would be surprised if dealers, especially during these times, would be hesitant to go near or even lower than these numbers.

Ceramic Silver GT1 AWD for $535 with $0 down/3y/30k lease

 

[jd284]

Not to derail but I got my Stinger around this time last year with these specs below. I would be surprised if dealers, especially during these times, would be hesitant to go near or even lower than these numbers.

Ceramic Silver GT1 AWD for $535 with $0 down/3y/30k lease

Nice, would have to see the full breakdown to evaluate. Money factor, rebate, dealer discount ,etc

 

[Jeff_So_FL]

Dealer is getting super aggressive with his numbers, thoughts?

2020 GT2 RWD
36 mo, 12k mi
$619/mo all in
$619 1st mo due at signing

Compared with what I've seen up till now, this is by far the lowest. You think it's legit?

 

[jd284]

Dealer is getting super aggressive with his numbers, thoughts?

2020 GT2 RWD
36 mo, 12k mi
$619/mo all in
$619 1st mo due at signing

Compared with what I've seen up till now, this is by far the lowest. You think it's legit?

Same numbers as before or better dealer discount?

 

[Jeff_So_FL]

I told him his numbers were too high, especially tossing in $1200 in BS dealer fees. I mentioned that Rick Case Kia gave me a better offer on an identical car weeks ago and he then changed his tune.

 

[Jeff_So_FL]

I'm sorry, I mean yes, he seems to be using the same numbers, likely just took off some of the fees and maybe bumped his dealer discount up.

 

[Jeff_So_FL]

I've decided to let things slide into May as a) more of the Ceramic Silver GT1 & 2's are showing up in dealer lots, and b) with the economic tsunami, I have to believe the incentives will only improve in May. Even if they remain as-is, summer months tend to bring better deals as the current model year cars start to get long in the tooth with expected 2021 cars arriving in August. We shall see, I just felt that the dealers were all over the place and not being especially honest. I used to enjoy shopping for cars, not anymore. Appreciate all the help and will circle back in a few weeks.

 

[Lonz]

Dealer is getting super aggressive with his numbers, thoughts?

2020 GT2 RWD
36 mo, 12k mi
$619/mo all in
$619 1st mo due at signing

Compared with what I've seen up till now, this is by far the lowest. You think it's legit?

I would not focus on the payment amount. You should only be concerned with getting the absolute lowest "Adjusted Capital Cost" number. To get there, you'll need 10% off of MSRP, and then apply the 24-month lease rebate, then add the lease acquisition fee, and the dealer doc fee (hopefully, no higher than $199). With this deal, you cannot have any dealer add-ons that are not only worthless, but will drive-up your "Adjusted Capital Cost" number.

 

[seh0872]

Sorry Jeff I haven’t been following this thread over the last few days, but here’s some perspective from me. First the Kia incentives were extended through today. Not sure where they will be tomorrow. I’m guessing they will be extended.

Also, for reference, here was my deal on a Ceramic Silver GT1 AWD with floor mats. MSRP $49,280. Had the pre-incentive deal down to $45,300 but agreed to raise it to $45,800 to get them to fetch the specific color combination for me from another state. So, $3,500 off.

BTW, don’t put any money down on a lease, beyond dealer fees. Scout around these boards for more on why, but basically because you risk that can if the car is totaled.

 

[Jeff_So_FL]

Sorry Jeff I haven’t been following this thread over the last few days, but here’s some perspective from me. First the Kia incentives were extended through today. Not sure where they will be tomorrow. I’m guessing they will be extended.

Also, for reference, here was my deal on a Ceramic Silver GT1 AWD with floor mats. MSRP $49,280. Had the pre-incentive deal down to $45,300 but agreed to raise it to $45,800 to get them to fetch the specific color combination for me from another state. So, $3,500 off.

BTW, don’t put any money down on a lease, beyond dealer fees. Scout around these boards for more on why, but basically because you risk that can if the car is totaled.

On the same page and as noted earlier, decided to sit out the balance of April and see what develops in May. Somehow, a few more Ceramic Silver GT1/2's appeared at dealerships and I am also guessing that incentives will either remain as-is or get better. I guess they could get worse, but economics do not seem to lean that way. A handful of the cars I've been keeping my eye on have also been at the dealerships for some time, so another month on their books should provide additional incentive for the dealer to move it. I will also admit to being totally turned off by the Kia dealership experience. Virtually all were hesitant to provide pricing and if they did, all relevant details were not provided. It was the usual, "oh, come in, we'll take care of you here" and I'm like, why, we can do it virtually all over the phone and online, I don't feel like coming in with all the Covid stuff going on, nor want to get there and find the numbers have changed and you are trying to upsell, etc. No disrespect as I will still likely get the car, but it was and remains a very down-market experience and I'm not at all pleased with it.

 

[G-307450]

Well, looks like you may have made a smart decision. Kia lease incentives are $700 higher this month. Not sure how the money factor has changed, though. I think they've climbed over .002

 

[ltjammer]

On the same page and as noted earlier, decided to sit out the balance of April and see what develops in May. Somehow, a few more Ceramic Silver GT1/2's appeared at dealerships and I am also guessing that incentives will either remain as-is or get better. I guess they could get worse, but economics do not seem to lean that way. A handful of the cars I've been keeping my eye on have also been at the dealerships for some time, so another month on their books should provide additional incentive for the dealer to move it. I will also admit to being totally turned off by the Kia dealership experience. Virtually all were hesitant to provide pricing and if they did, all relevant details were not provided. It was the usual, "oh, come in, we'll take care of you here" and I'm like, why, we can do it virtually all over the phone and online, I don't feel like coming in with all the Covid stuff going on, nor want to get there and find the numbers have changed and you are trying to upsell, etc. No disrespect as I will still likely get the car, but it was and remains a very down-market experience and I'm not at all pleased with it.

I leased my 2020 Ceramic Silver GT2 on 4/5/2020. I did all of my stuff online and over the phone as well. I am in Central Florida and the dealers around here suck. I had to increase my search radius to within 4 hours drive time. I had 2 dealers close on price and payment for a 36/12K lease, Rick Case Kia in Sunrise and Friendly Kia in New Port Richey. I was offered $586 including tax from Rick Case and $579 including tax from Friendly. I chose Friendly as they were 2 hours closer. I have attached a screenshot of how to compute an approximate lease payment. A friend in the car business sent this to me. I was able to create an excel spreadsheet with the formulas on that screenshot. I then plugged in the numbers to make sure the deals were good and that they were not increasing the MF or other fees. I was about $15 off the monthly payment and this was because of the Florida taxable fees for tires, environmental, battery etc that I did not include.

 

[Jeff_So_FL]

Congrats on the car, I hope you are enjoying it. May I ask what your total OOP was? The $580 ish with taxes in is an excellent price based on all the whacky numbers I have seen. Obviously that is dependent upon what you paid at signing. That deal I would take, assuming there was no cap cost or significant OOP. I will check New Port Richey to see what they have. I've been to Rick Case and found them to be impossible to deal with. Maybe b/c I went in once, they now expect me to come in again to sit and negotiate. Again, enjoy the car!!!

 

[Jeff_So_FL]

I leased my 2020 Ceramic Silver GT2 on 4/5/2020. I did all of my stuff online and over the phone as well. I am in Central Florida and the dealers around here suck. I had to increase my search radius to within 4 hours drive time. I had 2 dealers close on price and payment for a 36/12K lease, Rick Case Kia in Sunrise and Friendly Kia in New Port Richey. I was offered $586 including tax from Rick Case and $579 including tax from Friendly. I chose Friendly as they were 2 hours closer. I have attached a screenshot of how to compute an approximate lease payment. A friend in the car business sent this to me. I was able to create an excel spreadsheet with the formulas on that screenshot. I then plugged in the numbers to make sure the deals were good and that they were not increasing the MF or other fees. I was about $15 off the monthly payment and this was because of the Florida taxable fees for tires, environmental, battery etc that I did not include.

If possible, can you let me know what sales rep you worked with? I'll reach out to them directly to try and work out a similar deal. Using the calc you provided and matches one I've been using from Edmunds, I get to a lease number (36/12) of $514.00 / mo with $1k in fees. I believe I've got the correct Kia Lease Cash, residual, MF, etc. The calc usually comes in low, so even at another $40 - 50 / mo, it should be close. Fees will also dictate where the price ends up. Any help would be most appreciated. Thanks!!!

 

[ltjammer]

If possible, can you let me know what sales rep you worked with? I'll reach out to them directly to try and work out a similar deal. Using the calc you provided and matches one I've been using from Edmunds, I get to a lease number (36/12) of $514.00 / mo with $1k in fees. I believe I've got the correct Kia Lease Cash, residual, MF, etc. The calc usually comes in low, so even at another $40 - 50 / mo, it should be close. Fees will also dictate where the price ends up. Any help would be most appreciated. Thanks!!!

My out of pocket was $2000 down as I wanted to pay for the acquisition fee and the dealer installed options, like windows tinting, ceramic coating on the interior etc. I did not want those wrapped into the lease. I worked with Crystal Cheney and John Armstrong. Edmunds and Leasehakr are good resources but they don't account for all of the local fees like tires, battery etc. Good Luck!

 

[Jeff_So_FL]

I now officially hate car dealers. I didn't like them before, but now it is outright HATRED! Bad word, but still. Ugh, I've got so much going on with life - family, work, health and whatnot and the dealers just can't be honest.

I am dealing with Friendly for a deal like ltjammer got on a 2020 RWD GT2 Ceramic Silver. The first PDF shows the initial deal they sent me in the first column. Melissa D. came in at $646.85 / mo PLUS they wanted $4400 OOP. Obviously I laughed at that, told them I am NOT taking an $1895.00 "mandatory" Kia Protection Package with another $2450.00 in DF on top of it.

So I sent them this file with the second column. Fees dropped down to a more reasonable $850.00 (and it can go up some, don't care) and the car leases out at $536.25 / mo. So what do they do... they send me the following Friendly Offer and literally ADD in the $1895.00 Protection Package onto the MSRP!!! Come on, I'm not an idiot and this just leads to bad vibes. Their fees are still high at $1,800.00 and I still need to go cash down a grand to come to $636.00 / mo. Wow, so I'd be $2800 OOP and leasing the car at $100.00 than it legitimately should lease for.

I'm done, I am going to get a bicycle and call it a day. Or I can go to Audi and lease an S5 Sportback and be far happier paying $100.00 over the $636 for a killer gran coupe. Don't get me wrong, I really want this car, but why are these dealers so scummy!!!

 

[stasek]

A road trip might be what the doctor ordered .

 

[ltjammer]

I now officially hate car dealers. I didn't like them before, but now it is outright HATRED! Bad word, but still. Ugh, I've got so much going on with life - family, work, health and whatnot and the dealers just can't be honest.

I am dealing with Friendly for a deal like ltjammer got on a 2020 RWD GT2 Ceramic Silver. The first PDF shows the initial deal they sent me in the first column. Melissa D. came in at $646.85 / mo PLUS they wanted $4400 OOP. Obviously I laughed at that, told them I am NOT taking an $1895.00 "mandatory" Kia Protection Package with another $2450.00 in DF on top of it.

So I sent them this file with the second column. Fees dropped down to a more reasonable $850.00 (and it can go up some, don't care) and the car leases out at $536.25 / mo. So what do they do... they send me the following Friendly Offer and literally ADD in the $1895.00 Protection Package onto the MSRP!!! Come on, I'm not an idiot and this just leads to bad vibes. Their fees are still high at $1,800.00 and I still need to go cash down a grand to come to $636.00 / mo. Wow, so I'd be $2800 OOP and leasing the car at $100.00 than it legitimately should lease for.

I'm done, I am going to get a bicycle and call it a day. Or I can go to Audi and lease an S5 Sportback and be far happier paying $100.00 over the $636 for a killer gran coupe. Don't get me wrong, I really want this car, but why are these dealers so scummy!!!

The Friendly dealer I purchased my car from was in New Port Richey.

 

[Jeff_So_FL]

Yup, same folks.