Is this a good deal or should I wait?

[mahadt17]

I want to know if I'm getting a good deal on this 2020 Stinger GT2 AWD. I originally wanted to wait for the 2021 model, but the rebate thats being offered on 2020 models seems too good to pass up. I assume there won't be any incentives at all on the 21 models in the first 2-3 months? So if that is the case and this seems like a good deal, I'll pass on the 21 and pull the trigger on this one.

 

[stasek]

Considering current market conditions, it doesn't look too bad. Back in the day, it was fairly easy to get 10% off + available rebate (~$12,500 was the highest, iirc), but the inventory sucks nowadays, so the dealers are not as inclined to deal.

 

[AWDGT2]

Sign it!!!!! LOL

 

[bearstinger]

Way better than we did, our dealer was a no negotiations. I would sign that quick!

 

[ChaneRZ]

Sign it!

 

[Travis Wills]

I want to know if I'm getting a good deal on this 2020 Stinger GT2 AWD. I originally wanted to wait for the 2021 model, but the rebate thats being offered on 2020 models seems too good to pass up. I assume there won't be any incentives at all on the 21 models in the first 2-3 months? So if that is the case and this seems like a good deal, I'll pass on the 21 and pull the trigger on this one.

You need to know what the final cap cost will be. That price doesn't appear to include the lease initiation fee, dealer fees, or doc fees. Also tax isn't included in there either. It is likely that they will tack on a ton of fees when you go to sign on the dotted line. That will make it less of a good deal depending on how much they tack on.

That price of $850-$862 a month for 24 months is MASSIVELY high. With the numbers in your attachment the base lease payment for 24 months should be $736 a month plus whatever your tax would be. They are tacking on something like $120 a month of extra charges. That is a lot. They are probably raising the interest rate from the .00178(4.27% apr) that it should be to something like .0033(7.92% apr).

Here is a mock up of what that lease should cost with August 2020 lease numbers. It is possible that September lease numbers will be slightly different.

leasehackr.com/calculator

Here is information on what the current incentives are.

2020 Kia Stinger Lease Deals and Prices - Page 15

24/12: .00178 MF and 53% residual. $9400 lease cash 36/12: .00169 MF and 48% residual. $7500 lease cash

forums.edmunds.com

If you are going to do the lease buyout option then the interest rate doesn't matter and cap cost is the only thing that will matter. They are giving you a bigger discount than they are supposed to but making up for that with interest and other fees.

I absolutely would not lease this car if you intend to keep the lease. It is a terrible deal. However, if you intend to buyout the lease and can get the total cap cost under $40k then it would be a very good deal.

They can make a lease sound great by showing you that sub $40K selling price. However, when the monthly payment calculation comes into play they tack on so many extra hidden charges. If you don't know what you are doing with leases you can get screwed. Here is a video I did on some ways they get you with leases.

 

[Travis Wills]

Way better than we did, our dealer was a no negotiations. I would sign that quick!

You are a dealer's wet dream then. They hook you in with that ultra low selling price but what you didn't realize is that there is over $100 a month in extra fees that they have secretly inserted in that monthly payment calculation. This is a suckers lease.

 

[bearstinger]

You are a dealer's wet dream then. They hook you in with that ultra low selling price but what you didn't realize is that there is over $100 a month in extra fees that they have secretly inserted in that monthly payment calculation. This is a suckers lease.

Yeah we are, but I made a error did not notice at first this was a lease buy, we did a cash buy. opps old eyes lol

 

[MerlintheMad]

Welcome to the forum, and the topic that generates the most heat (even more than pulsating brakes, hah).

I have no savvy when it comes to leases; I've done exactly ONE, this one, and I bought it out at three months.

 

[Lonz]

I want to know if I'm getting a good deal on this 2020 Stinger GT2 AWD. I originally wanted to wait for the 2021 model, but the rebate thats being offered on 2020 models seems too good to pass up. I assume there won't be any incentives at all on the 21 models in the first 2-3 months? So if that is the case and this seems like a good deal, I'll pass on the 21 and pull the trigger on this one.

If the Adjusted Capital Cost is $39,320, that is a fantastic deal! To others' points above, the Adjusted Capital Cost (less any taxes) is the true number you need to know. Anything under $40k for the ACC is a good deal.

 

[heyheyal]

Might be some more wiggle room. But at the end of the day it’s a good deal.