Used Stinger GT Market Info

[Transmetal]

The days of getting a GT2 brand new for under $40k are slipping away.

Huh? When were those days? I bought a new 2020 awd gt for 36k out the door back in July of 2020. Couldn't even touch a gt1 here for under 40k, let alone a gt2, if that was the case, I wouldn't have settled on a base gt.

 

[Logic717]

Huh? When were those days? I bought a new 2020 awd gt for 36k out the door back in July of 2020. Couldn't even touch a gt1 here for under 40k, let alone a gt2, if that was the case, I wouldn't have settled on a base gt.

It probably wasn’t 40k out the door but folks who were doing the lease buyout method got some really good deals that were close to that for the sales price- this was probably most of 2019 if memory serves.

 

[Transmetal]

It probably wasn’t 40k out the door but folks who were doing the lease buyout method got some really good deals that were close to that for the sales price- this was probably most of 2019 if memory serves.

Ahhhh, ok that makes more sense. I actually thought about trying to trade in my 2020 awd gt for a 2021 awd gt, which now can be had in ceramic silver but obviously I'd loose money on the deal. Still owe a lot on it and it's got 3800 miles on it already.

 

[WRXtoStingerGT]

People need to specify not just engine or model but also the trim... and their state... and if they were financing or leasing and for how long... or cash... Also what year you purchased and if the car was new/cpo/used and the mileage.

It's like asking "if that Ferrari faster than your BMW?" It's a useless question. What kind of Ferrari or BMW, faster in a straight off the line or on a track? Professional driver verses average clown? Too many variables.

I am very curious to see more accurate info.

I bought a brand new 2020 Stinger GT-RWD in late February 2020 for $36k otd in south Florida. The only extra options that added to the price were the homelink, wheel locks, and white paint. MSRP for the vehicle was $42.5k on the sheet. I saw identical vehicles listed a year prior at dealerships ranging anywhere from $43k-$46k in south Florida.

 

[Transmetal]

People need to specify not just engine or model but also the trim... and their state... and if they were financing or leasing and for how long... or cash... Also what year you purchased and if the car was new/cpo/used and the mileage.

It's like asking "if that Ferrari faster than your BMW?" It's a useless question. What kind of Ferrari or BMW, faster in a straight off the line or on a track? Professional driver verses average clown? Too many variables.

I am very curious to see more accurate info.

I bought a brand new 2020 Stinger GT-RWD in late February 2020 for $36k otd in south Florida. The only extra options that added to the price were the homelink, wheel locks, and white paint. MSRP for the vehicle was $42.5k on the sheet. I saw identical vehicles listed a year prior at dealerships ranging anywhere from $43k-$46k in south Florida.

Yeah that makes sense. I paid 36k out the door for a 2020 awd gt here in MN, they basically only sell awd ones here. I figured a rwd one would be cheaper actually. I got undercoating and weather tech winter mats thrown in the deal. As I said, here in MN a gt1 would run you 41-43k the list price for my car was 40 got it for 36k.

 

[Travis Wills]

June of 2019 there were several 2019 RWD GT2 cars listed for $39,000 if you did the lease buyout option. There was even a 2019 AWD GT2 listed for $40,000 at one point that summer. Those deals have all long since dried up.

 

[Transmetal]

June of 2019 there were several 2019 RWD GT2 cars listed for $39,000 if you did the lease buyout option. There was even a 2019 AWD GT2 listed for $40,000 at one point that summer. Those deals have all long since dried up.

Pretty sure that depends on where you live. Now I never looked at the lease deal cuz leasing wasn't an option for me. I crashed my car in June but I only had so many months to drive my Lightning before I had to put it up for winter. Before I crashed my car, when I wasn't in the market, would just look, the deals were amazing. When I was looking, there was not a single awd gt1 new in (MN) for anything less that 41k, mind you I didn't have a trade or anything. Cheapest awd gt1 I saw was 40,950 but it was white (no offense) ain't no way I was buying a white car.

 

[WRXtoStingerGT]

Yeah that makes sense. I paid 36k out the door for a 2020 awd gt here in MN, they basically only sell awd ones here. I figured a rwd one would be cheaper actually. I got undercoating and weather tech winter mats thrown in the deal. As I said, here in MN a gt1 would run you 41-43k the list price for my car was 40 got it for 36k.

Sounds like you did a great job with getting a deal!!

June of 2019 there were several 2019 RWD GT2 cars listed for $39,000 if you did the lease buyout option. There was even a 2019 AWD GT2 listed for $40,000 at one point that summer. Those deals have all long since dried up.

Forgive me for such a foolish question but when is it ever a good time to do a lease buyout? Why not finance the car from the beginning?

 

[Buzz]

Forgive me for such a foolish question but when is it ever a good time to do a lease buyout? Why not finance the car from the beginning?

If you lease a car, you are in effect borrowing it with a specific purchase price (negotiable) turn in price (set by auto finance nerds guessing depreciation) with a "Money Factor" that defines what is roughly equivalent to an interest rate. Between the three you are financing the difference between A Minus B at MoneyFactor%

The lease buyout made it (Purchase Price minus Lease Cash) minus Turn in price, @ BadMoneyFactor%, they weren't dumb, the money factor on this lease was not the best, they were going to make a lot of their money back over the 2-3 years of the lease due to the rate.

Long story short, the correct time is as soon as possible with whatever lease had the highest Lease Cash, because you will avoid paying the mediocre MoneyFactor%, and pocket all of the Lease Cash and simply pay off Purchase Price - Lease Cash - 1-2 months payment = $Go away KiaMF give me (or my credit union) the title ASAP, which you then finance at a basically free 2-4% and never look back.

If you just financed it outright, you wouldn't have gotten all that free cash from Kia hoping you kept the lease for 2-3 years at a high MF. But in the future, one should compare the Kia Lease Cash incentive to other offers like conventional loan incentives + sweetheart rates at 0% or similar.

 

[WRXtoStingerGT]

If you lease a car, you are in effect borrowing it with a specific purchase price (negotiable) turn in price (set by auto finance nerds guessing depreciation) with a "Money Factor" that defines what is roughly equivalent to an interest rate. Between the three you are financing the difference between A Minus B at MoneyFactor%

The lease buyout made it (Purchase Price minus Lease Cash) minus Turn in price, @ BadMoneyFactor%, they weren't dumb, the money factor on this lease was not the best, they were going to make a lot of their money back over the 2-3 years of the lease due to the rate.

Long story short, the correct time is as soon as possible with whatever lease had the highest Lease Cash, because you will avoid paying the mediocre MoneyFactor%, and pocket all of the Lease Cash and simply pay off Purchase Price - Lease Cash - 1-2 months payment = $Go away KiaMF give me (or my credit union) the title ASAP, which you then finance at a basically free 2-4% and never look back.

If you just financed it outright, you wouldn't have gotten all that free cash from Kia hoping you kept the lease for 2-3 years at a high MF. But in the future, one should compare the Kia Lease Cash incentive to other offers like conventional loan incentives + sweetheart rates at 0% or similar.

Then perhaps I should have done more research. I appreciate you explaining it to me step by step while breaking it down.

I chose to finance because the interest rate (APR) was comically low due to both my 800+ credit score and also incentives created by COVID. Furthermore, I knew I wanted my new car to be in my possession at least ten years since my family has a habit of keeping our cars at least for a decade. We like to get our money's worth; ironically this is the first new car anyone in our family was buying... but that's a separate story... When I ran the numbers are some intense negotiation the monthly payments seemed pretty good to me, the total OTD final price was nice and low for my area, and the rebates/incentives/cash to lower the price were on point.

I guess there are some circumstances where leasing might make more sense than financing. For me though, since I wanted a car I could keep and drive into the early 2030's I figured why not just finance it for a few years.

 

[Sabs]

Here's an update with February's listings. Depreciation seems to be continuing predictably after the "covid bump" last summer.

 

[ghost_of_john_lennon]

June of 2019 there were several 2019 RWD GT2 cars listed for $39,000 if you did the lease buyout option. There was even a 2019 AWD GT2 listed for $40,000 at one point that summer. Those deals have all long since dried up.

I saw many GT1s and 2's in the southeast sell for 36-40k easy in fall 2019 (especially), early 2020. Julio Jones Kia had a red GT2 for sale for half a year for 38-40k, sat there forever. Somebody got a real deal.

 

[Sabs]

The 2022 Stinger details are now available for the US market.

I think the new trims will have a bit of an effect on used prices.

The least expensive 3.3TT model for 2022 is a few thousand dollars higher than in past years. Buyers comparing new to used may be willing to spend a bit more for a used model now that the cost of entry is higher.

I suspect depreciation of the GT model will slow somewhat based on this.

 

[ghost_of_john_lennon]

From what I have seen, depreciation has slowed dramatically, and is out performing expectations. Not the same with G70, I believe.

 

[WRXtoStingerGT]

View attachment 55317
Here's an update with February's listings. Depreciation seems to be continuing predictably after the "covid bump" last summer.

Don't cars in our category normally depreciate heavily?

Foreign + luxury + GT

 

[Travis Wills]

Don't cars in our category normally depreciate heavily?

Foreign + luxury + GT

The INFINITI Q50 Silver Sport is depreciating very severely now. That car has an equivalent MSRP to the Stinger GT1/GT2 depending on options.

 

[colnago1331]

I'm curious as to what will happen now that the new Stinger has been released. They dumped the base level GT trim and took away a slew of features from the GT1 trim, while lowering the price of the GT1 only minimally. If I were in the market for a GT1 now, there's no way I wouldn't take a Gen 1 Stinger over a 2022.

 

[Transmetal]

Better off buying a 2020-2021 base gt or gt1.

 

[WRXtoStingerGT]

The INFINITI Q50 Silver Sport is depreciating very severely now. That car has an equivalent MSRP to the Stinger GT1/GT2 depending on options.

That was a car that I test-drove with a coworker a few years back... it was the "special" 400 horsepower one... I forget... I don't know much about the new Infiniti's but this was the red sedan...

I like the Infiniti coupes/sedans but was never drawn to them... idk why...

I liked the previous generation G-coupes and G-sedans by Infiniti though...

I feel like Nissan/Infiniti quality has been going down a bit the last few years it seems...

 

[Travis Wills]

That was a car that I test-drove with a coworker a few years back... it was the "special" 400 horsepower one... I forget... I don't know much about the new Infiniti's but this was the red sedan...

I like the Infiniti coupes/sedans but was never drawn to them... idk why...

I liked the previous generation G-coupes and G-sedans by Infiniti though...

I feel like Nissan/Infiniti quality has been going down a bit the last few years it seems...

The Red Sport Q50s do have 400 horsepower. They are worth MUCH more on the used market than the 300 horsepower Silver Sports. However, the RS Q50s have a much higher MSRP. Both depreciate dramatically. They do make for incredible used car purchases though.

Nissan and especially INFINITI sales have slowed to a crawl over the last 2 years. Most manufacturers are doing much better now. INFINITI is just struggling to stay afloat. Their sales are positively abysmal now.