Current MFR Incentives for the Stinger

[turboAWD]

From what I hear / read (leasehackr, etc), cash is no longer king. I think it USED to be king, because they knew you could get a deal done THAT DAY and they could be sure it would get done. Now, with instant loan approvals, kick-backs for financing, etc, I hear they actually prefer NON-cash buyers.

Getting $5-10K lease cash is a great deal for the buyer, and it doesn't involve ANY loss of profit on the dealer side - why would they sell the car at a loss just to come close to that? For example, I haven't seen ANY GT2 AWD discounted below say $45-46K before incentives - which is right around invoice - holdback, AFAIK. Holdback is the "hidden profit" dealers get on the car. If they give you all of holdback, they're more or less at 0 profit (again, AFAIK).

With the Stinger, you can add up to $10,500 lease cash for an '18 GT2 AWD - without any sweat off the dealer's back. Even if you lose $1K in the churn, that's still around $35-36K for a GT2 (before taxes). No dealer will do that for a cash purchase unless it's end-of-the-year unicorn, hit-mega-bonus one day of the year, your lucky day.

 

[turboAWD]

Merlin - what were your numbers that you didn't save much by buying out early?

Looking at the '18 GT2 AWD numbers I posted, the total cost of the lease for 2 years ends up being almost 30% interest. Just a really rough example, with 56% residual, 0.002 MF (4.8%, that's close, IIRC), total lease cost is ~$12,000 for 24 months, and ~$8600 with 0 interest (i.e. instant buyout). Since you can't avoid all interest, after 3 months, figure you saved an additional ~$3200 in interest over 21 months, AND of course, there's the $10K lease cash. Buyout would be around $41-42K OTD, just off the top of my head, including taxes.

Best cash price would probably be $43K + tax. 9% in my neck of the woods, so close to $47K. Obviously, if state taxes are near 0, that would be very different.

 

[MerlintheMad]

Merlin - what were your numbers that you didn't save much by buying out early?

I did save a lot on lease rent. But I was talking about cash on the spot (OTD) compared to leasing then buying out three months later. It looks like I probably saved c.$2K+ by doing that, even counting in the buyout fee and some $1,800 of additional crap that I cannot account for. Tax on the spot would have been higher with a cash purchase because the OTD would have been higher. Unless I could have talked them down, I guess that even in my case lease then buyout was worth no less than two grand in savings.

 

[Edwardb1]

I'm definitely going to buy out my lease, maybe after the first payment. That should give me the time I need to maximize my savings.

 

[leecm]

I'm definitely going to buy out my lease, maybe after the first payment. That should give me the time I need to maximize my savings.

I would start the process as soon as your lease shows up on the kmf website. Should be a couple weeks after you drive the car off the lot.

 

[Edwardb1]

I would start the process as soon as your lease shows up on the kmf website. Should be a couple weeks after you drive the car off the lot.

Sounds good! Thanks!

 

[Christos]

Okay, I'm going in! Here is some information related to the deal offer on the website. Please give feedback. I am seriously thinking of doing the lease then buyout deal. Here are the numbers: View attachment 22197View attachment 22198

Just got off the phone with the finance guy at Luther regarding this deal, cause I’m interested as well and they 3-4 units left of the GT2. He explained that if you finance with the 0% APR offer up to 66 months you lose out on a $2500 rebate. However, you can take advantage of the additional $2500 rebate, and will pay a higher interest rate. What he suggested is that if you are looking to buy out the car in 48+ months, forget about the $2500, cause you’ll pay more in interest in the long run ~4,700 for 40K financed.
That being said, I think that you can probably negotiate a better deal towards the second half of the month, as dealers start to get desperate to make their numbers. Also based on my research so far, KIA has been very strategic with the pricing and marketing of this car, so i am confident that you can get the same deal in most other places, even though it’s not advertised the same way.

 

[Christos]

Okay, I'm going in! Here is some information related to the deal offer on the website. Please give feedback. I am seriously thinking of doing the lease then buyout deal. Here are the numbers: View attachment 22197View attachment 22198

What is the residual value of the car at the end of the lease?

 

[Edwardb1]

I think it was set at $24,800.

 

[SGT2]

I just bought my Stinger gt2 and used the kia military rebate and saved $400.00 on the spot.

 

[BT_STINGER]

Is this Luther MN? How did you get this gt2 for asking price 40 then an additional 8k to make it 32k.thats insane i want this.

 

[thethunderbird]

Is this Luther MN? How did you get this gt2 for asking price 40 then an additional 8k to make it 32k.thats insane i want this.

I don't think that's what happened here. He still hasn't said what his cap cost was.

 

[Edwardb1]

I don't think that's what happened here. He still hasn't said what his cap cost was.

After everything was said and done,(I'm not looking at the paperwork) I think I was around $41,345

 

[turboAWD]

After everything was said and done,(I'm not looking at the paperwork) I think I was around $41,345

Was that BEFORE lease cash? Did you qualify for loyalty/conquest?

 

[Edwardb1]

I'll have to look to absolutely certain, but I do believe this was everything all in. For a car that listed for $52,845, I thought it was a decent deal. I love the car regardless!