2019 GT2 rwd $41832, with balloon finance buyout

That looks real good on a 2019, I would take it and run!

 

There's a catch. When you do balloon financing, you are required to go thru KMF to get the balloon cash. They jack up your interest rate to something like 7% for 36 months. That's how they make up that cash. Then, of course you're stuck trying to secure financing on the balloon amount at a credit union or bank. Probably at another 4% since it'll then be a used vehicle. Best bet is to forgo the balloon option, and just get the .9% rate for 66 months thru KMF. Unless of course you plan on just paying it off immediately after signing the balloon financing. Just make sure there are no penalties in the contract for early payoff. Just food for thought.

 

Best bet is to just pay cash. Financing something that depreciates as quickly as a car is cray cray.

 

Sounds like a great deal to me for a 2019. Asking them to price out a ceramic gt2 awd for me. Will probably do balloon financing and buyout or do a loan from a local credit union so the interest rate won't be a big deal. Was told by the dealer that the first 3 payments go to principal only. Will have to connfirm.

 

I got my 2018 GT2 RWD for $40.5k before TTL that way.
The incentives can offset a LOT of interest. Even refinancing through the credit union I'm still about $3k less at the end of the note compared to using the KMF 0% or 0.9%.

 

We should get new incentive offers from kia in the beginning of December. Probably worth the wait to see what those are.

 

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Yea you will probably get the largest incentives at the end of the year. Thanks for posting this dealership. I'll see if I can work something out with them.

 

Question about the balloon interest. I was looking at a 2018 GT2 for around $39,000. My current trade is valued at 21g. They showed me the numbers with a balloon payment of 20g due in 36 months. The interest was around 7% like everyone is showing, but the first 35 payments were $0/month because my trade value was applied. I have the cash for the balloon payment, so I'm not concerned about that...but where is the interest? Is it in the 35 payments, or buried in the balloon? I don't want to lease, don't want to do traditional financing because there aren't nearly as good incentives. But where's the interest? I liken it to my first car I bought in college...8% interest in 2006, but I paid it off in 5 months. The amount I paid in interest wasn't nearly what it would have been if I paid the 60 full payments. How does it work here?

 

Agreed. They don't have any gt2 in stock however. Edit* gt2 awd

 

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What would be the total OTD with the extra $6,000 off?

 

Interesting. I live in Austin as well...so I wonder if I put my trade on there at $20,000, would my tax be only on the difference? Under $40,000 OTD for a 2019 isn’t bad. I want the charcoal color(panthera metal I think). My goal is use my trade to get a payment of $0/month for 35 months and pay the balloon of around $20,000 for the 36th payment. Still curious where the interest is applied if the payment is nothing per month. They showed me numbers for a 2018 with a payment of $0.