Bought wrong car -- what are my options?

[GronkSoyFiesta]

This seems kind of odd to say to an internet stranger -- but thanks for some oddly comforting advice.

To be fair, you are asking internet strangers for advice.

 

[turismo863]

Hey Tourismo, not sure where you are located however, dealers have pretty good discounts going on to get this car off the lots, some places are doing 10%+ off the MSRP and KIA has the $3k Conquest cash and 0% financing for up to 66 months. The deal you heard about sounds like the lease buyout. You cannot just calculate the discounts without taxes (not saying your buddy didn't get out the door at that number, but it sounds too good to be true) and fees, it will come up great that way but there is always taxes and it differs by state. Just doing straight numbers as an example:

GT2 AWD MSRP - $52,300
10% Discount price - $47,070
September Lease cash - $7700 (just checked KIA's website and the extra $1k is no longer listed)
Tax - x%

Looking at that you are at $39,370 for the car before taxes. The way they do in VA is tax on the full amount of the vehicle, not just the lease portion. So this way it is:

Price - $47070 + dealer fees, registration + tax on that amount - rebate or 47,070 + 850 (fees and reg.) = 47,950 + 4.15% VA tax = 49,940 - 7700 = $42,240

You then take that $42,240 to be refinanced at your bank or credit union.

Pennsylvania has 6% sales tax and an additional 3% on the total lease price. Looks like my friend is either lying or got a tremendous deal. He definitely does have a GT2 though, had the HUD.

I see in the incentive fine print that the conquest cash is for buyers and can't be used by lease deals -- is this true even for the lease-buyout approach? Would seem pretty absurd to get a $10700 discount.

 

[Waynerm002]

Last month the lease incentive was $8900 for the GT2 AWD plus an additional $400 if you are military, which I qualified for, so mine was $9300 in rebates. My out the door price including rebates, taxes and fees was $41,700.

 

[Abaloz]

If there’s no equity in it, I’d suggest someone take over ur payments... also add in some toppings like and extra 1k to take the car from u!! Then u should be in a better position the get a Stinger... I feel bad too. My friend is in a similar situation, and he test drove my Stinger, fell in love and now wants one, at this point I’m going to a Stinger he will take a hit, cause he’s already negative in his Camry, and looks like he’s willing to take a hit. The smart way imo, so u can maximize u to keep ur money, drive the accord for 3 yrs, and if it exists lease a 2021 Stinger lol. Or just buy a used 2018 stinger with 30,000 miles. For a fraction of the price

 

[GronkSoyFiesta]

One question to ponder: Would you feel this way if you read the full thread on paint issues? I'm not so sure I would make the same decision if I thought the paint was going to be flaking off my car.

 

[MerlintheMad]

One question to ponder: Would you feel this way if you read the full thread on paint issues? I'm not so sure I would make the same decision if I thought the paint was going to be flaking off my car.

Talk about a glass 97% empty guy! I doubt that even 3% of Stingers have actual failing (poorly adhering) paint. It's too bad that any do at all. But the incidence is very low, even counting the Sunset Yellows.

 

[Bryan3.3]

If you leased you probably have gap insurance. Buckle up and crash that sucker into a wall. JK, maybe anyway good luck hope you get the car you want. Cheers!

 

[GronkSoyFiesta]

Talk about a glass 97% empty guy! I doubt that even 3% of Stingers have actual failing (poorly adhering) paint. It's too bad that any do at all. But the incidence is very low, even counting the Sunset Yellows.

Ha. You have me right Thanks for keeping me honest. I may have misinterpreted the thread, because the impression is that the incidence is higher. Either way, I hope I'm in the 97%. I have always taken the "safe" choice with Acura and Lexus and actually bought a GS350 F Sport two years ago, but the deal fell through. The Stinger is infinitely more exciting and I knew there was some risk, but this definitely does introduce angst that someone who just plunked down this much $ shouldn't have to deal with IMHO right out of the gate.

 

[westcoastGT]

IMHO , wait , drive your car for the lease then switch , by then all the little glitches on the Stingers will be fixed and you wont get spanked in the wallet ...........................

 

[Daniel Egan]

I was 18 months into a 60 month loan with an Elantra SR Turbo (Sport variant outside of AU).

I traded it into Kia at a time when the maximum private sale price for that year and KM was $24000 AUD which would have been negotiated (privately) down to $22-23000 ($25500 was owing on the loan after 18 months). Kia as a trade-in offered $17000 AUD and I negotiated the Stinger GT (GT2 for USA) down from $65700 to $61000. Ultimately, we agreed on me paying RRP for the Stinger GT + $1k, and Kia would take the Elantra off me and pay off the remaining loan ($25500).

Do I regret it? No. I have a smile on my face every time I walk to the car and take the longer routes when driving.

Treat yourself..... as long as it's within your financial capacity.

Just make sure you get a decent deal. I could have sold privately and got a little more, allowing greater negotiation on the Stinger as a standalone transaction. But the convenience of doing it all through Kia in the one weekend was worth the (roughly) $2k hit.

 

[Waynerm002]

Ha. You have me right Thanks for keeping me honest. I may have misinterpreted the thread, because the impression is that the incidence is higher. Either way, I hope I'm in the 97%. I have always taken the "safe" choice with Acura and Lexus and actually bought a GS350 F Sport two years ago, but the deal fell through. The Stinger is infinitely more exciting and I knew there was some risk, but this definitely does introduce angst that someone who just plunked down this much $ shouldn't have to deal with IMHO right out of the gate.

First year niggles are a fact for every car maker, some have bigger issues than others. Folks coming to KIA for the first time, with pre-conceived notions, if they experience anything, will think that it's a brand issue even though it isn't. No matter how well you engineer something, there are things that will go wrong that will need to be corrected. If KIA wasn't handling it, that would be a different story. Folks expecting a fix overnight are not being realistic. We are humans, most prefer to complain than find a solution, sadly it's just how things are.

You should see what Volvo owners went through with the XC90 when it first came out.

 

[GronkSoyFiesta]

Talk about a glass 97% empty guy! I doubt that even 3% of Stingers have actual failing (poorly adhering) paint. It's too bad that any do at all. But the incidence is very low, even counting the Sunset Yellows.

Hey I realized your numbers are off. I'm not a 97% empty guy. I am a 60% empty guy because I just looked at the poll numbers. Of those who took the paint poll, only 40% said they are having no issues with their paint. Let's say we throw out half of them because the poll is not representative of the total Stinger population. That leaves somewhere between 30-60% of Stinger owners who say they have had paint issues. By any measure, that is not a small population of people having a problem.

 

[Abaloz]

Paint chipping or not, it’s better than my slow ass super base Hyundai Sonata hybrid I’ve been driving for the past 3 years lol

 

[MerlintheMad]

Hey I realized your numbers are off. I'm not a 97% empty guy. I am a 60% empty guy because I just looked at the poll numbers. Of those who took the paint poll, only 40% said they are having no issues with their paint. Let's say we throw out half of them because the poll is not representative of the total Stinger population. That leaves somewhere between 30-60% of Stinger owners who say they have had paint issues. By any measure, that is not a small population of people having a problem.

Only 40% of poll responders. And 220 responders (last time I looked a couple of days ago) is only 5% of the Stinger Forum population. There is no way that anyone coming here even a handful of times does not get an eye full on the subject of Stinger paint.

A conservative factoring for worldwide Stinger population looking for information on why they are having trouble with their paint would probably put the percentage of Stingers having trouble at less than 3%, but why haggle? The poll shows up at the top of Google results when you search with phrases like "kia stinger paint chipping/peeling" or "kia stinger paint quality issues". So only having 220 participants in the poll so far is a big indicator that this most popular hate subject amongst us is not widely known in the whole wide world of Stinger owners. If it were, then some thousands of searches would have turned the poll up and response would be enormous. I just selected 97% as the unbothered Stinger population. It is probably closer to 1%, or maybe some 200 total cars. The one Yellow (by far the most troublesome color) I know of has pristine paint. But hey, if it is 400 or 600 cars with paint adhesion issues, that is 400 or 600 too many; but not a crisis for the car in its first year. Especially since Kia is honoring their paint warranty. And doing far more than that for all Yellows; and by all indications other colors too on a case by case basis.

 

[DiabloStinger]

Hey I realized your numbers are off. I'm not a 97% empty guy. I am a 60% empty guy because I just looked at the poll numbers. Of those who took the paint poll, only 40% said they are having no issues with their paint. Let's say we throw out half of them because the poll is not representative of the total Stinger population. That leaves somewhere between 30-60% of Stinger owners who say they have had paint issues. By any measure, that is not a small population of people having a problem.

There is a small amount of people... be assured of this. Not 30-60%