2020 GT1 or GT2 Lease Guidance

[Jeff_So_FL]

Hey All,

Hope everyone is staying healthy and sane during this very bizarre time. New to the site and in need of some help in finding a fair lease on the Stinger. My lease is up on a 2017 Infiniti Q50 Red Sport and I am looking for something equally fun and sporty, though less expensive. I've bought, sold and leased dozen of cars over my life, from high end German badges to plenty of Nissan's and even a Subaru. On this go round, I sort of settled on the Stinger or Genesis G70, but strongly prefer the Kia for the larger interior and like the rear coupe style.

Anyway, cutting the chase, here in So Florida with a fairly ample inventory of GT1 & 2's, the dealers are offering what I believe to be really high numbers. I'm looking for 12k miles, 36 months and no cap cost down, only transfer tag and the usual garbage dealer fees. The discount off MSRP is substantial, but the lease numbers are no lower than $585 (w/out tax) and only base inceptions OOP. The dealers admit the residual is not great and I also understand the money factor is now higher on leases, but for a new car that is being sold at anywhere from $39k - 45k; doesn't $600 plus a month seem high???

I noticed on some other threads that incentives on a 24 month lease may be greater, is that so and where can I look that up? No dealer has discussed any other term beyond the 36 month, granted I typically am ready to move into another car between 24 - 30 months, so that would be ideal. If anyone has any specific suggestions, thoughts on realistic numbers and even dealer recommendations, I'd be super grateful. Unfortunately, be it the Kia badge or not, I am finding it less pleasant and straightforward when working with these dealers.

Really great forum, hope to land a Stinger and will be back here for sure. Many thanks!!!

 

[2Slo4u]

Autobytel is your friend -- update your zip code

2020 Kia Stinger Incentives and Rebates | Autobytel.com

 

[Jeff_So_FL]

Very helpful, just noticed that there is an extra $1200 in lease cash on a 24 mo RWD GT1 versus the 36 mo! Thank you!!!

 

[stasek]

These rather large lease incentives help when doing immediate lease buyout, but generally the Stingers lease terribly (as you already know - abysmal RV and high MF).

 

[jd284]

They make a lot of the lease cash back with the high money factor. If you decide to lease then you just have accept you’re paying a premium there’s no way around it. I’m looking at them and currently own an s3 and my strategy is to find a 19 with the higher lease cash or wait until the 20s go “on sale”. Plan is to lease buyout which will save me some $ even though I am in CT

 

[Jeff_So_FL]

It's so frustrating b/c the Genesis G70 3.3, basically the same car under the skin, sells like 10 x more vehicles and yet can be had for legitimately $50 - 100 less per month. However, it is a smaller interior and I've got two teenagers and like the space and larger trunk; not too mention the coupe rear styling. I'm cool with the badge, really have no concerns on that, but when a car stickers at $50k, yet with the dealer discount and lease cash is being sold for $39 - 40k, paying somewhere between $590 to 650 just doesn't fly with me. Yes, I could put more down, but why do that on a lease. I checked out the WW Areteon, but their leases are always high and though German, it's a dull car. Want to stay away from the cost of the big three Germans and have had my fill of Infiniti, Lexus and even Acura. As bizarre as it sounds, what else is there that offers a solid level of luxury, 300 + HP for fun driving and great styling. Nissan Max is like getting another Infiniti Q50 (my current ride), Toyota doesn't have anything, same with Honda. I'd even buy American, but only a Jeep or SUV and I'll get more value with a Sportage or Tuscan. Have to return my wifes QX70 in about 60 days and will get her one of those. How can it be that there are no other choices!!!???!!!

 

[jd284]

I hear you man! It sucks. Random question - have you looked at the Ford Edge ST? If you want space and a fun drive you might want to check that out. It’s close in price but it’s an suv so it will seat passengers better. Stinger has a low roof in the rear seat so if you have tall kids it may be tight

 

[Jeff_So_FL]

I hear you man! It sucks. Random question - have you looked at the Ford Edge ST? If you want space and a fun drive you might want to check that out. It’s close in price but it’s an suv so it will seat passengers better. Stinger has a low roof in the rear seat so if you have tall kids it may be tight

Appreciate the suggestion and am a big fan of the Edge and what Ford has done with it (tech, performance and looks). Issue is my wife only wants to drive an SUV and I'd want to keep that for myself and have zero interest, especially in So Florida, with having two SUV's.

 

[seh0872]

You can get the incentives, money factors, and residual values on the Edmunds forums. This board won't allow me to post the link, but Google "Edmunds Discussions Kia Stinger" and you should find it.

Just ask politely, and give them the details (trim, miles, zip code) and you'll get all the details.

The 24-month lease has the best incentives at $9500 for a GT2 (which you've already discovered)..given this and the difference in residuals, it was a cheaper option, but it may depend on whether you have to pay excess mileage and/or if you buy out the lease. I've run my numbers on a GT1, but happy to help analyze a 24- versus 36- month deal for you if you give me the sales price and fees.

 

[CeramicGT001]

It's so frustrating b/c the Genesis G70 3.3, basically the same car under the skin, sells like 10 x more vehicles and yet can be had for legitimately $50 - 100 less per month. However, it is a smaller interior and I've got two teenagers and like the space and larger trunk; not too mention the coupe rear styling. I'm cool with the badge, really have no concerns on that, but when a car stickers at $50k, yet with the dealer discount and lease cash is being sold for $39 - 40k, paying somewhere between $590 to 650 just doesn't fly with me. Yes, I could put more down, but why do that on a lease. I checked out the WW Areteon, but their leases are always high and though German, it's a dull car. Want to stay away from the cost of the big three Germans and have had my fill of Infiniti, Lexus and even Acura. As bizarre as it sounds, what else is there that offers a solid level of luxury, 300 + HP for fun driving and great styling. Nissan Max is like getting another Infiniti Q50 (my current ride), Toyota doesn't have anything, same with Honda. I'd even buy American, but only a Jeep or SUV and I'll get more value with a Sportage or Tuscan. Have to return my wifes QX70 in about 60 days and will get her one of those. How can it be that there are no other choices!!!???!!!

Didn’t really read everything you wrote but the g70 sold 2,000 less units in 2019 compared to the Stinger.

 

[Jeff_So_FL]

Didn’t really read everything you wrote but the g70 sold 2,000 less units in 2019 compared to the Stinger.

Wow, I thought the G70 was doing great, my bad. Then they are both in trouble. :-(

 

[CeramicGT001]

Wow, I thought the G70 was doing great, my bad. Then they are both in trouble. :-(

And so far this year (Jan thru Mar) the G70 has sold 2,074 and the Stinger has sold 2,560. Sedan sales are down in general.

 

[Jeff_So_FL]

Just ask politely, and give them the details (trim, miles, zip code) and you'll get all the details.

Just posted inquiry, will let you know what I find out, thanks again!

 

[Jeff_So_FL]

You can get the incentives, money factors, and residual values on the Edmunds forums. This board won't allow me to post the link, but Google "Edmunds Discussions Kia Stinger" and you should find it.

Just ask politely, and give them the details (trim, miles, zip code) and you'll get all the details.

The 24-month lease has the best incentives at $9500 for a GT2 (which you've already discovered)..given this and the difference in residuals, it was a cheaper option, but it may depend on whether you have to pay excess mileage and/or if you buy out the lease. I've run my numbers on a GT1, but happy to help analyze a 24- versus 36- month deal for you if you give me the sales price and fees.

Just got this follow-up from the Edmunds Board:
GT1 RWD
24/12 - .00181 and 56%; $7500 lease cash
36/12 - .00179 and 51%: $6300

GT2 RWD
.00191 and 54%; $9100
.00181 and 49%; $7500

Thank you SEH0872!

 

[Jeff_So_FL]

Just got this follow-up from the Edmunds Board:
GT1 RWD
24/12 - .00181 and 56%; $7500 lease cash
36/12 - .00179 and 51%: $6300

GT2 RWD
.00191 and 54%; $9100
.00181 and 49%; $7500

Thank you SEH0872!

Just found two Ceramic Silver, RWD Stingers about 150 miles from me. One is a GT1 and the other a GT2. They are listing the cars at $9400 and $10k off sticker respectively, but I am waiting to confirm that is inclusive of dealer disc and Kia Cash. I also asked for all dealer fees and hope to have soon. Can't believe the color I want, in RWD, showed up today in both trims. I will also say, their discounts at face value are far more substantial then I've seen with any of my local dealers. The closest guy was about $6k off sticker, possibly not all inclusive, but his cars are AWD.

 

[Jay B.]

@Jeff_So_FL If the dealer is advertising a large discount like that, it most likely will include every known rebate totaled together even if some do not stack. Curious to what you hear back from them. Best of luck.

 

[Jeff_So_FL]

Okay, so here we go, as noted Edmunds Board provided me with the following:
GT1 RWD
24/12 - .00181 and 56%; $7500 lease cash
36/12 - .00179 and 51%: $6300
GT2 RWD
.00191 and 54%; $9100
.00181 and 49%; $7500

Hot off the presses from a dealer in Florida, mind you two days remaining in the month, check out these numbers:
GT1
MSRP: $47,325
Disc: <2,325>
Rebate: <7,800>
Total Price: $37,200

Taxable Fees (Est): $180.35
Doc Fee: $799.00
Tax: $528.82
Non-Tax Fees: $127.00
NET PRICE: $39,485.17

Lease Numbers (24 Mo, 12k miles):
$1,000 Down $755/ mo
$2,000 Down $706/ mo
$3,000 Down $659/ mo

Lease Numbers (36 Mo, 12k miles):
$1,000 Down $635/ mo
$2,000 Down $602/ mo
$3,000 Down $570/ mo

GT2
MSRP: $52,505
Disc: <2,325>
Rebate: <9,000>
Total Price: $41,180

Taxable Fees (Est): $180.35
Doc Fee: $799.00
Tax: $600.82
Non-Tax Fees: $402.00
NET PRICE: $43,757.17

Lease Numbers (36 Mo, 12k miles):
$1,000 Down $729/ mo
$2,000 Down $696/ mo
$3,000 Down $664/ mo

SO, I DON'T KNOW WHAT I AM MISSING HERE, BUT ARE THESE PEOPLE NUTS???

FIRST OF ALL, THE LEASE FIGURES ARE FAR HIGHER THAN I'VE BEEN QUOTED EARLIER THIS MONTH FROM OTHER DEALERS AND SECONDLY, HOW IS IT POSSIBLE WHEN HIS SELLING PRICE IS COMING IN LOWER THAN THE OTHERS. CAN SOMEONE WORK THE NUMBERS UP AND LET ME KNOW IF THESE ARE LEGIT OR IS THE DEALER JUST TRYING TO GET OVER ON ME. AT THESE FIGURES, I CAN GET AN AUDI A5 SPORTBACK OR SPEND A LITTLE MORE AND GET AN S5 SPORTBACK.

APPRECIATE ANY INSIGHT.

 

[jd284]

Okay, so here we go, as noted Edmunds Board provided me with the following:
GT1 RWD
24/12 - .00181 and 56%; $7500 lease cash
36/12 - .00179 and 51%: $6300
GT2 RWD
.00191 and 54%; $9100
.00181 and 49%; $7500

Hot off the presses from a dealer in Florida, mind you two days remaining in the month, check out these numbers:
GT1
MSRP: $47,325
Disc: <2,325>
Rebate: <7,800>
Total Price: $37,200

Taxable Fees (Est): $180.35
Doc Fee: $799.00
Tax: $528.82
Non-Tax Fees: $127.00
NET PRICE: $39,485.17

Lease Numbers (24 Mo, 12k miles):
$1,000 Down $755/ mo
$2,000 Down $706/ mo
$3,000 Down $659/ mo

Lease Numbers (36 Mo, 12k miles):
$1,000 Down $635/ mo
$2,000 Down $602/ mo
$3,000 Down $570/ mo

GT2
MSRP: $52,505
Disc: <2,325>
Rebate: <9,000>
Total Price: $41,180

Taxable Fees (Est): $180.35
Doc Fee: $799.00
Tax: $600.82
Non-Tax Fees: $402.00
NET PRICE: $43,757.17

Lease Numbers (36 Mo, 12k miles):
$1,000 Down $729/ mo
$2,000 Down $696/ mo
$3,000 Down $664/ mo

SO, I DON'T KNOW WHAT I AM MISSING HERE, BUT ARE THESE PEOPLE NUTS???

FIRST OF ALL, THE LEASE FIGURES ARE FAR HIGHER THAN I'VE BEEN QUOTED EARLIER THIS MONTH FROM OTHER DEALERS AND SECONDLY, HOW IS IT POSSIBLE WHEN HIS SELLING PRICE IS COMING IN LOWER THAN THE OTHERS. CAN SOMEONE WORK THE NUMBERS UP AND LET ME KNOW IF THESE ARE LEGIT OR IS THE DEALER JUST TRYING TO GET OVER ON ME. AT THESE FIGURES, I CAN GET AN AUDI A5 SPORTBACK OR SPEND A LITTLE MORE AND GET AN S5 SPORTBACK.

APPRECIATE ANY INSIGHT.

It's the money factor spoiling your deal.On the onei'm lookingat, 116 of the monthly payment is the rental charge! Both dealer discounts are pretty weak. for a 2020 you need to shoot for 3000-3500, and for a GT2 3500-4000. My recommendation is find a 19 or wait to see what happens with the incentives over the next few months

Here is the deal i am locking in tomorrow. It was literally a PITA to find a leftover 19. Ive had dealers blow me off and lie. Finally found a great dealer about 2 hr away.

2019 GT1 Snow White Pearl

MSRP: $49,180
Discount: $3,680 (7.48%)
Selling Price: $45,500 (invoice = $46,163), $663 under invoice
Gross Cap Cost: $47,028
Total Cap Reduction: $12,767.64 ($10,420 rebate, $1k down+ trade equity)
Net Cap: $34,260.36

 

[jd284]

keep your head up, and good luck!

 

[Jeff_So_FL]

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.