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Discussion in 'How to Buy a Kia Stinger' started by StingerHopeful, Oct 30, 2019.
In the end, that's all that matters!
Shopping remotely as none near me. Looking at a new '19 GT1 AWD:
seems no lease in my area, so finance, supposedly through Kia. Says we'll go through the details when we agree on a price. How much lower should I start at? I asked whether Kia finance as I was afeared they'd try to bone me with their own financing and gobble up the $12k...
Why wouldn't a lease be available? Are you at a Kia dealership? Sorry, I've never heard of a lease not being available. Where are you?
If you go to Edmund's forums (google it) you can go to the Kia Stinger subforum and ask for the MF, residual and lease incentives for your zip code. That's a good place to start going the math.
For my zip code (here in LA) the numbers on the 2019 Stinger GT1 were:
.00184 and 47%
$8250 lease cash
You can also use Edmunds to get you a true market value on the GT1; that's going to be the dealer price, before the incentive. Edmunds has the GT1 in LA at around $41,000 market price. There's a $4000 cash incentive right now for a purchase, so that's probably how the dealer is getting to the $35738 listing. For a lease, you should be around $41,000 market price, minus $8250 for the lease, so around $32,750? Seems like the price is a little lower and the discounts are a little steeper where you are. You might be able to negotiate down to $30-$31k on a lease.
Thanks. I'm in NY 12020. looking at GT1 in FL at a Kia dealer. Checking the Edmund's forum...
The Edmund's forum got me an answer, but the Edmund's shopping site is pretty handy itself. Specifically:
New blue '19 GT1 AWD:
(Includes Destination Fee of $995)
Edmunds Suggested Price(Before Rebates)
2019 Kia Stinger GT1 AWD Lease Cash and Special Financing expires 03/03/2020
Edmunds Suggested Price(After Rebates)
Est. Cash Due at Signing
4.44% for 36 mo
Est. Money Factor
Nice. Throw the numbers into leasehackr calculator. You can probably get zero down, just pay all other fees and taxes upfront. No point in financing those. Should get you into low $400s.
One thing I screwed up was not researching early buyout. If that is an option for you, go for 24/10. Better lease incentive to make the buyout cheaper.
Thanks. No 24/10 option apparently. A dealer in NJ just provided this (new '19 GT1 AWD) quote. A lot closer to NY than FL! They weren't on Edmund's.
My Asking Price
Est. Lease Payment
Length of Loan
Miles per Year
*Est. pmt. based on your asking price of $45,092 at 10,000 mi/yr for 36 mos with $554 down for qualified buyers. Contingent upon dealer’s acceptance of these terms. Terms may vary. Payment Expires: 03/02/2020.See Details.
Edit Payment Terms
Est. Adjusted Cap Cost
My Asking Price Reduction
Total Cap Cost Reduction
Update ZIP Code
Taxes - Capitalized
Due at Lease Signing
Net Down Payment
Taxes - Due Upfront
First Month Payment
I’d hammer the NJ guys. I’m seeing an MSRP of $48,495 on Edmunds, with a suggested price of $40,468. Estimated $9,000 lease incentive gets you to ~$31,500 cap cost.
My GT2 was $52,500 MSRP. Got them to ~$37,700 cap cost after dealer discount and $10,050 lease incentive. Your MSRP is about $4,000 less, so they can do a lot better than $38,600 cap cost.
Just lay the numbers out:
= Cap Cost
Fees paid upfront
Plug that in lease hacker calculator and it’ll spit out what your payments should be before and with tax.
Shoot that to them and tell them that’s where they need to get based off your research from Edmunds. MF and residual is set by Kia by zip code. Make sure they give you the right one. My dealer tried to use a different one. Have them break everything out. Couple dealers just wouldn’t do that so I didn’t mess with them. Tell them if they can hit your numbers, they got a deal. Shop it around and use other deals as leverage. I ended up getting two dealerships bidding for me by doing that. Drop names do whatever you got to. Selling cars is a savage business; treat them like the savages they are lol.
This was my post from another thread that went over my process.
I just wrapped up a lease on the 2019 GT2 from Covina. Citrus was slow in responding, unfortunately, and couldn't get to where I needed (there was basically zero back and forth, a take it or leave it deal). I ended up playing Downtown and Covina off of each other, and ended up with a pretty good deal from Covina. They wanted a higher money factor (0.00225 vs. 0.00185 from Downtown), but I managed to talk them down on both the MF and the cap cost. The lease incentive was also fantastic. Whole deal took about 30 minutes to negotiate, then 45 minutes to complete paperwork.
I had talked to about 8-10 dealerships when shopping. My quick notes on the experience with dealerships:
Carson - just bad. Went there after setting up to meeting with an internet sales guy. Ended up sitting around for 20 minutes and two sales people just ghosting on me. Told the manager off after he didn't give a shit, and left.
Alhambra - went in to test drive a GT1; sales guy came out, didn't introduce himself. Told him I wanted to check out the GT1. He opened it up and let me sit in it, but when I wanted to test drive it, he said the car blocking the GT1 had a dead battery, so I wouldn't be able to. Walked off.
Downtown - pretty busy. Managed to test drive the GT2 (first time driving it after Carson and Alhambra). Sales guy was nice enough. Sat down to talk; he basically got to down payment and monthly, and I told him I wasn't quite read to talk numbers yet (still doing research.) Couple days later, I did submit one of the Edmund's quote requests, and DTLA got back to me quick. Told them I had already agreed to an offer from Covina, and they asked for an opportunity to quote before signing. Unfortunately, they were closed before I was able to get back to them. Pretty transparent and open. They had a black/black GT2 I was considering; ultimately, ended up with the Pearl White from Covina.
Garden Grove - went to GG because they had a GT2 for $39,999 advertised; turned out it had over 5k miles, so not eligible for the lease. My internet sales person was busy, so manager helped me (Abby.) She was very pleasant, even double checked on the 5k threshhold. Ultimately, gave me a quick quote on a 2020. Overall, very pleasant experience at GG.
Citrus - communicated over email. Couldn't get a quote to where I needed to; they didn't counter my counter, just stuck to their initial offer which was around a $40k net cap on a '19 GT2.
Kirby - had a car advertised that I wanted, but when inquired, it was not available for lease as it was a demo. Said he could get me to a $36 net cap on a 2019 GT2, but didn't have any. Not sure if serious.
Car Pros HB - inquired on a RWD GT2, said they didn't have one, had a AWD. Lowballed them using Kirby's offer of $36k cap because I didn't want the AWD or the Panthera, but wanted to see what they would counter with. They said we weren't even in the same ballpark (figured.)
Covina - pretty fast moving. Ultimately ended up purchasing from here. Christina was my rep; communicated well, pleasant. Initially offered around a $38k cap; told her I was looking at $36-37k range. She said if I went in there, she could get there. Drove to Covina. On the way, downtown contacted me and asked for opportunity to match. Sat down at Covina, numbers came in a bit different as we weren't really apples to apples. About 20-30 minutes of going back and forth on numbers, got to where I needed to be. There was a misunderstanding of MF (they quoted 0.00225, I was expecting 0.00185) but we came to agreement. It was late when I walked in, around 8:00pm, got out before 9:30pm.
Agreement as follows:
Vehicle was the GT2, Pearl White, MSRP of $52,050
MF = 0.00185 (they originally tried to get me at 0.00225, which was the MF at Covina, but they gave me 0.00185 when I said I would register in LA)
Residual = 45%
Lease incentive = $10,050
Gross Cap = $48.976
Adjusted Cap = $37,144
Amount paid in cash = $4222.37 (doc fees, license registration, tax, incentive tax, first month)
Monthly payments = $493.66 before tax; $540 with tax
Looking at a 2019 Kia Stinger GT2 AWD - $40,714 dealer price at present, although I'm confident I can get that down further. I'm based in Tx, so the lease/buyback seems tricky due to tax purposes. Does that sound like a solid deal for purchase or should I go further?
Look into “balloon financing”. In Texas, you’ll only pay the taxes once (since you’re buying the car initially) AND you qualify for lease cash, which if I’m not mistaken is $12000 and some change on a GT2.
We walked out paying $42k OTD on a 2019 GT2 RWD (buy, not lease). They started us at $54k due to locale markups. Last 2019 on the lot and the salesman owned a Stinger, lol
I think $40.7k OTD is a great price. Even if it’s before TTT, that’s still a good deal for a AWD.
A few weeks ago, I purchased one of the few remaining brand new 2019 GT2 AWD for just under $41K. I plan on purchasing this Stinger, but I leased it to take advantage of the $12K plus in incentives. If you can pick up one of the remaining new 2019s, I highly recommended it!
Anyone know how low I can get a dealer discount off of msrp for 2020 models? The dealerships in my local area are hesitant to give even a 8% discount off msrp.
If seems that the biggest discounts are by leasing a Stinger. I'm not a lease kind of guy, but you can really save some money with the proper buyout. Get online and find out what rebates KIA is offering. Then call multiple dealerships and get them to email you a quoted price so you have it in writing. You can then get them to start trying to out do each other for the sale. To get the best price you may want to be prepared to drive a few hours if needed.
Just my $.02 worth.
This was the response I received from a local dealership...
"There is currently no balloon program available on the 2020 Stinger. I called Kia and they had no answer as to when they would have one."
Just put a deposit on a New 2019 GT2 Panthera Metal w/ grey interior. Spent 42,250 OTD (VA sales tax), comes with puddle light and mats etc. Haven't seen the car yet since Im stationed overseas. You guys think its a good deal?
Since I paid about the same amount, I think it’s a great price!