July Incentives

[PieceOfChum]

I did some math and I will only save $2,600 doing the lease cash along with the Costco pricing versus my price which is $1k less. The only way I actually save a ton is with a balloon loan where the trade still reduces my taxes to a couple hundred dollars and I can do a buyout with no fees. With a lease you have acquisition/origination fees and with less tax savings, and higher financing rates it starts to get closer to just a straight purchase. I will try to do this process one last time but if it doesn't work then I might just bite on the deal and pay that extra money since I would be financing at 0.9% for 72 months it has little impact on my monthly payment it would only really make a big difference if I had to trade the car. I will also see if dealers in other adjacent states do the balloon payment, might be possible in Rhode Island which is only 1/2 hour away.

 

[StingEm]

Keep in mind that $2000 of the discount you are getting is the Kia financing incentive. So technically you should be getting Costco price plus another $2000 off if you finance.

 

[PieceOfChum]

I don't think the financing incentive applies to the 0.9% for 72 months.

 

[shaggystinger]

Where did you see the additional $1000 if you lease for 36 months?

It appears to apply to all AWD models only. Interesting!

 

[PieceOfChum]

It appears to apply to all AWD models only. Interesting!

Can someone post a link that states there is $1000 over the $7900 for lease cash for awd models. I don't see anything like that anywhere.

 

[shaggystinger]

Go to KIA's website and build any AWD Stinger. Click on the little calculator in the top right hand corner and click Calculate payments. Change your option to Lease and in both the left of your page and at the bottom right you will see something like: (GT AWD example)

• $5,800 Manufacturer Offer & $1,000 Manufacturer Offer Special Program from Kia Motors Finance for 36 months

I thought I was dreaming at first but after building a GT, GT1 and GT2 AWD an additional $1000 was being applied. It explains why several dealers I gave my contact info to are reaching out to me all at the same time.

 

[StingEm]

I don't think the financing incentive applies to the 0.9% for 72 months.

That is true. It is only offered on the 2.9% financing. In that case I don’t see why the same dealer who is offering you the 0.9% deal wouldn’t do the same (or at least very close) price plus the lease cash incentive to do a lease.

I’d let them know that you are willing to pay that price (plus the lease origination fee, doc fee, taxes, etc) if they will do it on a lease with the lease incentive. I find it hard to believe that they wouldn’t go for that as it shouldn’t matter to them much $$$ wise whether it’s financed at 0.9% or leased.

It sounds like you have a good handle on the situation now though as far as what you stand to gain as far lease vs. financing. Personally if I wasn’t going to be getting a discount + lease cash then I would just be patient and talk to more dealers / wait for a dealer to change their mind. You will always be able to find a dealer willing to make you a deal on a car with financing, and even if the lease incentives went away in the next few months you would just be right back to where you are now so you don’t really have anything to lose by waiting.

 

[StingEm]

Go to KIA's website and build any AWD Stinger. Click on the little calculator in the top right hand corner and click Calculate payments. Change your option to Lease and in both the left of your page and at the bottom right you will see something like: (GT AWD example)

• $5,800 Manufacturer Offer & $1,000 Manufacturer Offer Special Program from Kia Motors Finance for 36 months

I thought I was dreaming at first but after building a GT, GT1 and GT2 AWD an additional $1000 was being applied. It explains why several dealers I gave my contact info to are reaching out to me all at the same time.

Interesting. That makes the total AWD incentives larger than the RWD by:

Base: $1,400
Premium: $1,400
GT: $1,300
GT1: $900
GT2: $1,300

Which further closes the gap by $400 on an AWD GT1+DriveWise vs a GT2.

Also, the Premium AWD model now has a total of $8,600 discount. That is hilariously awesome when you consider a few days ago the Premium RWD was $6,500 incentive. MSRP on one with drive wise would be about $42,000 so with a $3,400 dealer discount you would be at $30,000 even. Pretty crazy! The base AWD models are also nuts at $7,400 discount. Now is definitely the time to buy (lease) if you are looking for an AWD model.

 

[StingEm]

Can someone post a link that states there is $1000 over the $7900 for lease cash for awd models. I don't see anything like that anywhere.

It is also shown on the AutoByTel link earlier in the thread. When discussing with a dealer though just tell them to bring up the Kia site and use the lease calculator like the other poster mentioned.

 

[Gferg01]

I'm not seeing that on the Kia website at all. I just did the same thing. Nothing came up about an additional $1,000 for AWD models.

Maybe it is region specific? I'm in the northeast. A majority if not all Stingers are AWD.


Edit: Autobytel link doesn't show the additional $1k for me either.

 

[Rydahog]

I don't see 1000, but I compared GT1 to gt2 with same numbers, and for $1000 more, gt2 is way better deal.. You get a lot more.. Jmho.. With military.400, yikes 8grand off before negotiations..

 

[shaggystinger]

I'm in Maryland (northeast region). Maybe it is region specific but the attached is what i'm seeing.

 

[Gferg01]

Did a deep dive on the Kia website to try to figure it out. It appears to be based off of your zip code where you reside. For example, if I use a Maryland zip code, and search for a dealer in the Philly area (where I am currently) I will get the additional $1,000. But if I do the opposite and use my home zip code searching in Maryland, I wont get the additional $1,000. So it seems like the additional money is specifically targeting certain markets or even states.

 

[shaggystinger]

Did a deep dive on the Kia website to try to figure it out. It appears to be based off of your zip code where you reside. For example, if I use a Maryland zip code, and search for a dealer in the Philly area (where I am currently) I will get the additional $1,000. But if I do the opposite and use my home zip code searching in Maryland, I wont get the additional $1,000. So it seems like the additional money is specifically targeting certain markets or even states.

Very interesting and when I think about it, I guess it all makes sense. Supply is in abundance in this area as there are so many dealerships within 100 miles of my zipcode. Some Stingers in this area have been on the lots since the day they came off the boats, especially the GT2's. Labor Day weekend is the next holiday coming up.....dare I wait till then to see who will take a loss?!?!

 

[StingEm]

Very interesting and when I think about it, I guess it all makes sense. Supply is in abundance in this area as there are so many dealerships within 100 miles of my zipcode. Some Stingers in this area have been on the lots since the day they came off the boats, especially the GT2's. Labor Day weekend is the next holiday coming up.....dare I wait till then to see who will take a loss?!?!

If I wanted another Stinger I personally would jump on any dealer willing to go to 10% off MSRP (before origination/doc/taxes) plus cash incentives. 8% off is also very fair I think (and a dealer is much more likely to bite at 8% than 10% based on what we’ve seen previously).

 

[Steeler84]

What are some of the lease deals that people are getting? I was just quoted $725 on a sign and drive GT2 from a dealer who quoted me $680 on a sign and drive last month...even though the lease cash has gone up $1,400.

Either they jacked the MF way up and dropped the residual even more, or the dealer is simply pissed off I didn't buy last month and offering me an awful price on the car. I would think that the price should be around ~$640 a month on a sign and drive, and to the lucky people who are getting the extra $1,000 bonus cash, around ~$615. Going to shop around but I'm interested to hear what others are paying.

 

[mightbestung]

I just purchased a stinger on July 4th and was able to negotiate 7% off msrp and was able to apply the lease cash as a Ballon finance. Super easy and dealt with Todd at Demontrond Kia in Houston. If anyone is in the market and close to Houston I would recommend going to see Todd. The finance guy frank was great too and new all about the balloon finance. I plan on cutting a check as soon as my account is live to payoff the balance. Heck of a great deal right now for a spectacular car. Happy Shopping!!

 

[PieceOfChum]

Wish I could do that deal. Tough to do around here for some reason.

 

[StingEm]

I just purchased a stinger on July 4th and was able to negotiate 7% off msrp and was able to apply the lease cash as a Ballon finance. Super easy and dealt with Todd at Demontrond Kia in Houston. If anyone is in the market and close to Houston I would recommend going to see Todd. The finance guy frank was great too and new all about the balloon finance. I plan on cutting a check as soon as my account is live to payoff the balance. Heck of a great deal right now for a spectacular car. Happy Shopping!!

Awesome. So apparently KMF offers the balloon financing in Texas, Oklahoma, and Arkansas. I wonder what other states? Those are the only three I can remember people posting about.

 

[OliverNuther]

OT but buying a car in the US seems a LOT more complicated than in Australia. We rarely lease cars nowadays, we don’t have Costco pricing. Here you basically go into a dealer, negotiate a price and pay it. Either in cash or finance. Dealer finance or finance you’ve arranged independently. I don’t want to derail the thread but if someone had experience with both systems it would be an interesting new thread.