2019 KIA STINGER GT2 NEGOTATION/ GETTING BEST PRICE

[Dave E]

See NY publication 839. It looks like NY requires that taxes on the amount of vehicle you are using be paid at lease inception. So for example, if you leased and the cap cost minus residual was $20k, you would pay NY state and local taxes on that amount. NY only refunds taxes on a lease in event of a lemon law enforcement. So if doing early buyout after 1 month of leasing, you would have to pay taxes on the entire buyout quote resulting in around $1,800 more than if you went the purchase option. If the taxes were financed in your lease (and remitted to NY upfront by the dealer/lessor) there is probably some way that the dealer covers themselves getting that money back. Doing a 2 year lease (currently, $9400 lease cash, or maybe plus an additional $1k, $10400 total if available on gt2 awd) may make sense even if you were to not do buyout early and simply buyout at lease end. Especially if you can get a money factor of less than 0.002.

Very interesting Rob, i am located in NY as well and am having trouble calculating everything. I think this helps, so my understanding is we will probably pay an extra 1700-2300 in taxes depending on the final numbers if we do a lease buyout, and we would pay the fee of $950 to buyout the lease early. So it would essentially be lease cash amount minus around 2800 would be our total cost.

 

[Rob M]

Very interesting Rob, i am located in NY as well and am having trouble calculating everything. I think this helps, so my understanding is we will probably pay an extra 1700-2300 in taxes depending on the final numbers if we do a lease buyout, and we would pay the fee of $950 to buyout the lease early. So it would essentially be lease cash amount minus around 2800 would be our total cost.

Yes, but the $950 isn't just the buyout fee - it is the round-trip fees related to the lease - typically $650 origination fee and $300 buyout. But it still amounts to $950 that you would not have to pay on a traditional purchase. Any dealer fees (subject to state laws and whether negotiable or non-negotiable) still apply to the lease just like a purchase. In addition to the taxation "penalty" and lease origination and buyout costs, you also need to consider any re-registration fees (title, registration, license plates) that will apply since at the termination of the lease their is a change in ownership. I had to pay ~$200 here in MD for those fees and 6% tax on the entire vehicle, but our law is a little more humane, lol, and additional sales taxes are waived when a lessee buys the vehicle.

 

[jkim20]

i dont think the difference will be tremendous. I want to go with the traditional finance method but I'm not getting the right prices!!!
my current lease is ending in October but if i can get a good deal now, i plan on getting it right away.

guess a 50 mile radius of searching isnt enough.

 

[jkim20]

How is this deal

MSRP: $54,500
SELLING PRICE: $46,383.47
FEES: $495
SALES TAX: $4,471.53 (NY TAX IS 8.8875%)
OTD: $51,350

Planning on putting 3k down,
finance 0% for 66 months for $732

Is this a good deal or can be had for a much lower price?

 

[MrSmoofy]

How is this deal

MSRP: $54,500
SELLING PRICE: $46,383.47
FEES: $495
SALES TAX: $4,471.53 (NY TAX IS 8.8875%)
OTD: $51,350

Planning on putting 3k down,
finance 0% for 66 months for $732

Is this a good deal or can be had for a much lower price?

I don't have all the numbers of front of me to compare but mine was much lower then this. Well tax you can't do anything about it. I put down the same as you but I got extended warranty and premium tire/wheel protection and my monthly payment is lower then yours for 60 months at 5.5% My OTD was closer to 43 to 46 on a 2019 GT2 RWD

 

[jkim20]

MrSmoofy.

What state are you in and whats the state tax %??

 

[MrSmoofy]

MrSmoofy.

What state are you in and whats the state tax %??

I'm in Florida. The state itself gets 6% and then depending on where you buy things there is an additional 1 to 1.5%. I purchased in Clearwater so total sales tax was 7% and we don't have state income tax

 

[Dr_jitsu]

I bought locally, but you need to do a nationwide search. I got a white gt2 loaded w/ everything, including the Nappa red interior (nice!).

Car was driven by sales manager w/ 1900 on it. I paid $41.500.00 excluding TTL. I think OTD was about $45k, but that includes the $1k 5 year maintenance. Best of all, dealership was 7 miles away. I was close to buying a GT1 from 1000 miles away. I spent a full week researching, 3-4 hours a day.

Approach it like a part time job

 

[Kgh31386]

Check around Oklahoma...


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Description
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