2020 KIA Stinger GT2 RWD lease Buyout

[2020KGT2]

I want to do the lease buy out, but the dealer numbers seem high to me.

$51,790
Selling price at $47,183
$9500 lease cash
MF .00189 and 54% ($27,966)
24 month 10k miles a year
$615 acquisition fee
$650 Bank Fee.
Trade in. $1200.

Using online calculator I'm getting estimates at $520 a month. He showed me his number and they're the same, but his payment is at $671.
I'm not sure if I'm over thinking it.
With this deal shouldn't I be getting this for about $47,183-$9500=$37,683

So $37.7k +TTL?


I tried posting an image of the dealer numbers, but I can't. His adjusted cap cost are $39,822. If any more information is neede . I'll try to provide it. Thanks.

 

[namja]

What's your tax rate? How much down did you put (for first month, acq fee, bank fee, etc). A normal DAS should include the aforementioned as well as taxes on lease cash.

 

[2020KGT2]

What's your tax rate? How much down did you put (for first month, acq fee, bank fee, etc). A normal DAS should include the aforementioned as well as taxes on lease cash.

Tax rate is 8%
Car trade In is my down payment $1200
Acquisition fee $615
Bank fee $650

The salesman also told me I would have to wait 4-6 months to refinance to buy it out. That seems like a lie right?

 

[stasek]

That's as close as I could get a calculator..... Of course, the dealer is full of you know what - no need to wait 4-6 months...

Leasehackr Calculator — LEASEHACKR

 

[2020KGT2]

That's as close as I could get a calculator..... Of course, the dealer is full of you know what - no need to wait 4-6 months....[/QUOTE

That's spot on. Now say if I I refinance. I'll be financing the Residual and remaining lease payment correct? I appreciate the help.

 

[2020KGT2]

That's as close as I could get a calculator..... Of course, the dealer is full of you know what - no need to wait 4-6 months...

That's spot on. Now say if I I refinance. I'll be financing the Residual and remaining lease payment correct? I appreciate the help. I just want to save as much as possible.

 

[stasek]

That's spot on. Now say if I I refinance. I'll be financing the Residual and remaining lease payment correct? I appreciate the help. I just want to save as much as possible.

Here's my "rough" math...

If you buy it out after, say, 1 payment, you're going to be paying Adjusted Cap Cost + taxes on basically entire Sale Price (since you only paid $49.77 which was part of first payment AND rebates are taxable), + $400 Buyout - ~$500 (what you paid toward depreciation which would be $671 - ~$128 (monthly rent charge) - $49 (taxes).

No more math for the day .

 

[puzzling1]

My best advice is to look at others' lease agreements and understand the math behind it. This way you can use the numbers provided by your dealer to confirm that his numbers tie out and most importantly don't include cost for items that you don't want. There is an example contract on leasehackr which has explanations for each area of the lease agreement. This was very helpful to me for confirming my dealer's numbers.

 

[2020KGT2]

My best advice is to look at others' lease agreements and understand the math behind it. This way you can use the numbers provided by your dealer to confirm that his numbers tie out and most importantly don't include cost for items that you don't want. There is an example contract on leasehackr which has explanations for each area of the lease agreement. This was very helpful to me for confirming my dealer's numbers.

Appreciate the tip.

 

[2020KGT2]

Here's my "rough" math...

If you buy it out after, say, 1 payment, you're going to be paying Adjusted Cap Cost + taxes on basically entire Sale Price (since you only paid $49.77 which was part of first payment AND rebates are taxable), + $400 Buyout - ~$500 (what you paid toward depreciation which would be $671 - ~$128 (monthly rent charge) - $49 (taxes).

No more math for the day .

Thanks for the help man. I appreciate it. Hopefully I can't get a car in the next few days.