I was 99% ready to close on a 2019 GT w/rwd. But no....

[Dr_jitsu]

Greetings, coming from German cars (and a Hyundai Equus) the Stinger really caught my eye. It is a hell of a car, especially for the money.

I am on a budget, and found a base GT I liked for a good price: $34,072. $36,672 OTD. To get the big $2700 discount I had to finance through Kia. The interest rate was 7.75%.

My Hundai Equus was totaled from water damage, and I got a lowball $15k for it. $14k was going towards a down payment.

It is red (a color that has grown on me) with a black interior (not my first pick, but I could live with it).

On Sat. I received the check and emailed the dealer rep that I was ready to go. I made one last small request, I asked for a better int. rate. They seemed to not like that.

Today I went to the bank to deposit the check from my INS. company and they said that my wife had to be present to deposit the check. I was going to then wire $14k to the dealer.

I was going to meet my wife tomorrow so that we could cash it. She is insanely busy.

I called my dealer rep and told him there was a delay and he responded by telling me he was putting the car back on the market.

He was put out by my last minute request for a lower int. rate....but hey, I don't think I was out of line at all. He told me he was putting the car back on the market.

I responded by saying "it is as if you were running a marathon, and then quit 10 yards before the finish line." Dumbshit rep was one day away from closing the deal. So I need some advice.

First, was I out of line? If no, then can anyone point me towards a good deal on a GT, GT1, or GT2?

 

[Dr_jitsu]

On another thread we saw that KGH brokered this deal:

2019 GT2 Panthera Metal
MSRP - $50,985
Cash savings applied- $10,000
Conquest- $2,000
Subtotal of $38,985
Sales tax-$1,436.56
Doc fee- $379
Total- $40,800.56 OTD

I contacted the Austin Dealer and tried to get this deal but he said I did not qualify for the conquest discount.

My dealer was Huffines. I have also been looking at the cars from Ferguson.

I live in the Houston area.

Thanks!

 

[Tobstertx3]

Not out of line at all. Keep looking for a better deal, they are out there. I financed at 0.9%

 

[Dr_jitsu]

My business went under a few years ago (I am OK however) and it killed my credit. My score is only 650.

 

[DaJackson]

I responded by saying "it is as if you were running a marathon, and then quit 10 yards before the finish line." Dumbshit rep was one day away from closing the deal.

But he’s actually running multiple marathons at the same time. And he didn’t quit, he just told you he’s going to work on finishing another marathon or start and finish another one while you get your Logistics together.

You’ve essentially told him you are a flight risk on the deal by asking for a last min change and probably looking at other dealers. So when you delayed he hedged his bets and gave you a reason to hurry up. It will either work and get you in there ASAP or not and you will walk and he will sell it to someone else.

 

[Dr_jitsu]

Not out of line at all. Keep looking for a better deal, they are out there. I financed at 0.9%

I am in Sugar Land. Do you know of any local deals?

 

[Tobstertx3]

I am in Sugar Land. Do you know of any local deals?

Have you tried Westside Kia? A few of the Houston guys got good deals from there.

 

[RUFFSTUFF]

At 7.75% interest you are not getting a discount.

 

[Dr_jitsu]

But he’s actually running multiple marathons at the same time. And he didn’t quit, he just told you he’s going to work on finishing another marathon or start and finish another one before you get your Logistics together.

He told me "I am putting the car back up for sale." Sounds like a quit to me. He did not say anything about logistics or other races he is in. I was planning on meeting my wife on the other side of town tomorrow at 11. Doing so is a huge hassle for both of us. Obviously I would then be wiring the money. You may be comfortable sending 14k to someone who may or may not adhere to a deal, but not me. I was buying the car sight unseen.

I am not going to make my wifes' life more complicated if he intends to sell the car out from under me.

 

[Dr_jitsu]

I will, thank you.

 

[DaJackson]

He told me "I am putting the car back up for sale." Sounds like a quit to me. He did not say anything about logistics or other races he is in. I was planning on meeting my wife on the other side of town tomorrow at 11. Doing so is a huge hassle for both of us. Obviously I would then be wiring the money. You may be comfortable sending 14k to someone who may or may not adhere to a deal, but not me. I was buying the car sight unseen.

I am not going to make my wifes' life more complicated if he intends to sell the car out from under me.

He’s not selling it out from under you. Unless you put some kind of deposit down or signed a purchase agreement it wasn’t your car.

I’m not trying to say you did anything wrong or this guy is the best dealer out there but the days where everyone on the street could go in and play dealers against each to drive down the price or play other games is largely over. Dealers know the games and know buyers have way more info than before. So they focus on the buyers who are most likely to buy from them and bail on those that start to be flaky or are just trying to use them to get a better deal.

 

[DaJackson]

Also at 7.75 you either have bad credit or got a terrible deal. Either way the dealer sees you as a risk and would rather prioritize working on a less risky deal.

 

[Dr_jitsu]

The deal was done. Am I in the wrong for wanting a lower interest rate? I was at the bank trying to wire him money. All he had to do was give me one more day. I was meeting with my wife at 11 tomorrow, then immediately wiring the money. $14k is not chump change. The deal was done. He did all that work and now is losing the sale. I am sorry, but you are completely wrong here.

I am now looking at the Ferguson deals.

 

[DaJackson]

The deal was done. Am I in the wrong for wanting a lower interest rate? I was at the bank trying to wire him money. All he had to do was give me one more day. I was meeting with my wife at 11 tomorrow, then immediately wiring the money. $14k is not chump change. The deal was done. He did all that work and now is losing the sale. I am sorry, but you are completely wrong here.

I am now looking at the Ferguson deals.

The deal was done and I needed one more day are not the same thing.

You weren’t in the wrong to want a better interest rate. At 7% I would have walked by now.

The dealer is also not wrong to let someone else buy the car. You still have the ability to go buy it tomorrow, call him in the morning and see if it’s sold. If not go wire the money and get the car you want. Or don’t and go buy it somewhere else.

You asked for opinions on the situation. You got some, don’t be mad when they don’t align with what you want to hear.

 

[Dr_jitsu]

The deal was done and I needed one more day are not the same thing.

You weren’t in the wrong to want a better interest rate. At 7% I would have walked by now.

The dealer is also not wrong to let someone else buy the car. You still have the ability to go buy it tomorrow, call him in the morning and see if it’s sold. If not go wire the money and get the car you want. Or don’t and go buy it somewhere else.

You asked for opinions on the situation. You got some, don’t be mad when they don’t align with what you want to hear.

What makes you think I am mad? I disagree with you, you make absolutely no business sense whatsoever. I am incredulous but I am not one bit angry. I don't understand why they would say something so foolish right before the money came in. that they would lose the sale. Dealership staff send me email after email trying to contact me, and blowing up my phone. After all that they have a sale, all they had to do was say "OK, send the money tomorrow" and I would have.

This is just stupid business sense. The 7.75% interest rate was caused by the $2,700 KMF incentive. I could have paid it off early.

Do you work for Kia? You simply cannot run a business this way. In my business I get tons of tire kickers. I stay polite because doing so increases my sales.

 

[StungnTn]

You should go to KIA's website, it tells you what interest rate is available to you based upon your credit. I plugged in 650 and it said they were offering a 3.5% apr on a stinger gt for 66 months and 2.75% apr for 60 months. If they can't match what's on KIA's website you are getting ripped off. Don't fall for their explanation that you have bad credit, that's bs. If you had good credit you can get a stinger for 0% APR right now, that 2.75%-3.5% APR is the penalty for 650 credit, which is still superior to that 7.75% BS.

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I took a friend to a local KIA dealership and they offered her 8% APR and I told them that their website offered 0% APR, and they literally pulled out another offer sheet behind their backs at 0% APR.

 

[StungnTn]

Another thing, you can get an amazing deal on a used 2018 yellow stinger limited GT due to the paint recall which includes a lot of options (drive wise) no longer available in the base 2019 GT trim for less than 30k. Also, the 2018 limited GT includes a LSD.

 

[Chark]

According to cargurus.com, Stingers are averaging over 200 days on dealer lots. I say call the dealer's bluff, but I also agree that they are trying to rip you off with the high APR. It was absolutely within your rights to ask about a lower rate.

 

[Dr_jitsu]

Thank you guys very much. I will move forward on your advice. Yes, the car I was buying was on sale for more than 100 days. I need to stick to my budget but I really want the Harmon Kardin stereo that comes with the GT1 and GT2, and the sunroof. I will keep looking.

It bears repeating, to get the $2700 incentive you had to finance through KMF. I exchanged the higher rate for the $2700 rebate. 7.75 is high, but compared w/ 4% it would still cost less than if I passed on the rebate.

What do you guys think of the Ferguson deals?

 

[Ruturaj]

Look at lease then buyout option. You can get much better deal that way.