Any Advice For a 2021 Stinger GT1 Quick Lease Buyout (Los Angeles)?

[jonathanjtliu]

Hi everyone, reading the forums has been a tremendous help to me over the past few days. I've been in the market for a used GT1 RWD for months now, was hoping to finalise a purchase by the end of the year but looking more likely that it will happen in January. I'm glad I came across the early lease buyout video on YouTube, which then led me here.

From my research, even a used 2019 GT1 will run at least $33,000 pre-tax/fees, and after doing some quick math it seems as if I could get much better value from doing a quick lease/buyout. I'd love to do one for a 2020 model but it seems as though they're pretty much extinct in the SoCal area.

I'd appreciate any tips/guidance from anyone who's recently done a quick lease buyout on a 2021 GT1 (or any 2021 model), particularly if it was in California, it'd be really helpful. Would love to know what kind of deal you got and how much negotiating went into your deal. Would also love to know whether any of you would recommend any particular Kia dealerships as well.

Finally, would also really appreciate any help in checking my rough estimates below to make sure I'm doing the math correctly below to make sure I know my stuff going into negotiations. Thanks so much!

2021 GT1 RWD MSRP: $45,490
Aim to negotiate 10% off for purchase price: ~$40,941
Subtract current $5,700 2021 GT1 RWD lease rebate (per Autobytel): ~$35,241
Plus ~10% in CA/LA county taxes: ~$35,465
Plus potential $1,000 in dealer/acquisition/interest fees: ~$36,465

Thanks so much for your help in advance!

 

[stasek]

Your math is off on taxes - you mention 10% but only added $200 to the cost. Other than that, you’re pretty close. Is CA taxing on the entire value of the car or only on depreciation? If you haven’t done so - check out leasehackr forum. Even though you’re doing a lease buyout, you’ll be able to see some deals from CA.

 

[jonathanjtliu]

Your math is off on taxes - you mention 10% but only added $200 to the cost. Other than that, you’re pretty close. Is CA taxing on the entire value of the car or only on depreciation? If you haven’t done so - check out leasehackr forum. Even though you’re doing a lease buyout, you’ll be able to see some deals from CA.

Thanks for the catch, that was my bad. My understanding is that CA taxes only on depreciation, although some dealers charge the tax up front meaning that if you do a quick lease buyout, you would essentially be paying the tax twice (please let me know if I'm wrong here).

Just as a sanity check, I received the following lease offers from a dealer for putting down $2k, $4k, and $8k down respectively. If I'm interpreting these correctly, the dealer is essentially barely giving me a discount off MSRP for each option pre-rebate, and that these are bad deals, right?

 

[stasek]

Thanks for the catch, that was my bad. My understanding is that CA taxes only on depreciation, although some dealers charge the tax up front meaning that if you do a quick lease buyout, you would essentially be paying the tax twice (please let me know if I'm wrong here).

Just as a sanity check, I received the following lease offers from a dealer for putting down $2k, $4k, and $8k down respectively. If I'm interpreting these correctly, the dealer is essentially barely giving me a discount off MSRP for each option pre-rebate, and that these are bad deals, right?

Im on my phone, but the way they structure the deals it’s hard to figure out what the pre-incentive selling price is. Your best bet is to request $0 drive and sign quote (or as little down as physically possible, which is what you should be doing anyway, regardless whether you keep it as a lease or buy it out).

 

[sanfermin13]

Thanks for the catch, that was my bad. My understanding is that CA taxes only on depreciation, although some dealers charge the tax up front meaning that if you do a quick lease buyout, you would essentially be paying the tax twice (please let me know if I'm wrong here).

Just as a sanity check, I received the following lease offers from a dealer for putting down $2k, $4k, and $8k down respectively. If I'm interpreting these correctly, the dealer is essentially barely giving me a discount off MSRP for each option pre-rebate, and that these are bad deals, right?

It looks like 0 discount?? What part of CA?

 

[jonathanjtliu]

It looks like 0 discount?? What part of CA?

Thanks, it looks like there's no discount to me as well. I'm in LA county. I've reached out to the dealer to confirm what the pre-rebate selling price is.

 

[Sine Qua Non]

Definitely no discount there. Your price is same as the MSRP and at selling price.

 

[Chih]

Thanks for the catch, that was my bad. My understanding is that CA taxes only on depreciation, although some dealers charge the tax up front meaning that if you do a quick lease buyout, you would essentially be paying the tax twice (please let me know if I'm wrong here).

Just as a sanity check, I received the following lease offers from a dealer for putting down $2k, $4k, and $8k down respectively. If I'm interpreting these correctly, the dealer is essentially barely giving me a discount off MSRP for each option pre-rebate, and that these are bad deals, right?

Your looking at the gt1 at valencia?

 

[jonathanjtliu]

Your looking at the gt1 at valencia?

Not in particular, pretty much any GT1 in the southern California area in the colours that I'm interested in and for the best possible deal.

 

[anhanhymous]

Where would you have to go to find a new 2020 GT1?

 

[Chih]

Not in particular, pretty much any GT1 in the southern California area in the colours that I'm interested in and for the best possible deal.

I’m also looking for a GT1 they seem to be selling out here in SoCal all the lease guys take their time and leave me messages to call them back but I can’t get a straight answer on the dealer discount I find on true car.com I might wait for a better lease cash offer next year