July Incentives

[ant]

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

Hey buddy--I'm also from MA. I was able to negotiate a GT2 AWD down to 43500 out the door, taxes all in, through a lease at Wagner Kia in Shrewsbury. This means the balance on my lease is 43500 - whatever downpayment I did through my credit cards to get points. It certainly wasn't easy but my sales rep Dave was pretty good. You have to speak confidently and know your facts and show that you're ready to buy. At that point it just comes down to numbers and margins. If you want a certain price, it should be reasonable, and one thing I do is make a proposal with alternatives. I.e, give different prices, some prices that include accessories, extra warranty, etc.

I'm signing the paperwork for the lease tomorrow and picking it up Monday. I have a low trust of car dealerships so I'm hoping no surprises.

My experience at some other dealers..
The sales people at LEV Kia Framingham suck. I asked about the lease then buyout thing and they didn't believe me, then said they called some regional kia supervisor and then gave me a price with the lease cash, then made up some charges, and didn't even come close to the best offer I had on hand. Then they tried to say the adjusted cap cost they gave me didn't include sales tax and other fees so whatever they told me was worse by an additional $2k! They either don't know anything, or act like they don't know anything. I felt offended that they offered a price worse than the offer I told them I already had on hand. This sales rep also kept insisting they are KIA's top sales rep and seems to have a story about selling a stinger every week. I live 1 mile from this dealership but 10 miles from the one I'm going to be buying from so I thought I'd give them a chance. Waste of time. The sales rep said that he's never lost a deal over the cost of a vehicle.. please. The net result is that they came across as completely incompetent to me.

Herb Chambers Kia Burlington had a "slick slimy" feeling and came across as stuck up. I don't know why, but every one of their dealerships has that vibe to me. Especially the finance manager / sales managers. The sales person I dealt with at Kia Burlington was super nice though.

Good luck, keep trying. These places are going to keep trying to dump the GT2s before 2019 models get released.

 

[PieceOfChum]

Hey buddy--I'm also from MA. I was able to negotiate a GT2 AWD down to 43500 out the door, taxes all in, through a lease at Wagner Kia in Shrewsbury

Did you buy the white one or the blue one there. I liked Wagner but they didn't have a good selection. Was the 43,500 out the door after a down payment? If so how much did you put down? I have a deal for a GT2 AWD with the car at $47,200 I have two trades so I will only pay a couple of hundred in taxes not sure how the trades impact the taxes with the lease. So I would be close to your prices after my down payment.

 

[zoop]

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.

Thanks, very helpful. I'm finding it hard to wait for the 2019s at their this price but I really want the 360 camera and wireless charging.

 

[zoop]

Someone previously posted jpg charts of the monthly lease deals, does anyone have that for July? If I remember correctly it detailed the mf and residual differences for 10k vs 12k mi/yr leases and showed the lease cash etc.

 

[PieceOfChum]

Thanks, very helpful. I'm finding it hard to wait for the 2019s at their this price but I really want the 360 camera and wireless charging.

Are you sure the 2019's will have the 360 camera wouldn't mind having that.

 

[Waynerm002]

Based on what was supposed to come on the Atlantica, the fact that it is cancelled as a special edition, maybe it will just come across the line. That is what we are hoping for.

 

[Jayce]

Everything is pointing towards nothing really changing in the 2019s. I would be happy if they would fix it by adding back the stuff they deleted. I wonder when we'll know for sure.

 

[AnyVare]

Everything is pointing towards nothing really changing in the 2019s. I would be happy if they would fix it by adding back the stuff they deleted. I wonder when we'll know for sure.

I'm going to go with when the G70 launches with all the missing features, the 2019 will show up with all the feature too.

 

[Waynerm002]

That’s what i’m thinking as well. They may have to lower the price or they will say the car is an even better buy since they made the safety features standard and added new features while keeping the original price. I dot expect them to do like Apple with the first iPhone and give some money back, but who knows, it could happen.

 

[Jayce]

I'm going to go with when the G70 launches with all the missing features, the 2019 will show up with all the feature too.

I guess that would be in the next month or so then. Good.

 

[mikestevens]

Hi All,

I am new to this forum and need your help. I am totally confused with residuals and money factors etc...
I think I have an excellent lease deal and want to make sure I'm correct.
I plan on signing this Monday. I live in MD so I get taxed on the entire price of the car 6%

GT1 with Drive Wise / LSD - MSRP 43, 450
36 months / 12k Miles
No money down
Tax/ Bank Fee/ DMV / Damage Waiver included
First month payment due at signing.

$569.23 out the door

 

[Rydahog]

Did you get 400noff for military?, also kia rebate off I think about 6600?..and drive wise is about 1600 or 1800..not 2k, so negotiate that also.

 

[MerlintheMad]

Hi All,

I am new to this forum and need your help. I am totally confused with residuals and money factors etc...
I think I have an excellent lease deal and want to make sure I'm correct.
I plan on signing this Monday. I live in MD so I get taxed on the entire price of the car 6%

GT1 with Drive Wise / LSD (Limited Slip Differential) - MSRP 43, 450
36 months / 12k Miles
No money down
Tax/ Bank Fee/ DMV / Damage Waiver included
First month payment due at signing.

$569.23 out the door

Looks pretty close to what mine was like. Possible differences are they knocked c. $3K off my MSRP up front (mine is AWD, so higher MSRP starting out). And I had a higher monthly payment mainly because I opted for 15K miles. But then, after two payments, I bought out the lease. And if I figured it right, I save over $4K at the end of 36 months. The savings would have been nearly $500 more if I had opted out as soon as the lease kicked in (but I didn't know about buying out at the time). The guy here to talk to you about leases is @Mach_Tuck

 

[BlaydeX15]

Hi All,

I am new to this forum and need your help. I am totally confused with residuals and money factors etc...
I think I have an excellent lease deal and want to make sure I'm correct.
I plan on signing this Monday. I live in MD so I get taxed on the entire price of the car 6%

GT1 with Drive Wise / LSD (Limited Slip Differential) - MSRP 43, 450
36 months / 12k Miles
No money down
Tax/ Bank Fee/ DMV / Damage Waiver included
First month payment due at signing.

$569.23 out the door

So, there are 3 major parts of every lease. The Adjusted Capital Cost, the Residual, and the Money Factor. (Term and mileage are there as well, but not as big)

Adjusted Capital cost is the 'final' cost of the car. You take the agreed upon price, add any taxes and fees, then subtract incentives (like the large lease incentive Kia is offering right now). Now, since you're only leasing the car for 3 (or so) years, they aren't going to charge you for the whole car over that 3 years. This is where the Residual comes in.

The residual is basically what they think the car will be worth after the lease ends, expressed as a percentage of the MSRP (not the Capital Cost). In the case of the Stinger, it's something like 51-53% for a 3 year 12k mile lease. The longer the lease or the more miles, the lower the residual, since an older car or one with more miles is worth less. So if the car is listed at an MSRP of $43,050, and has a residual of 53%, the car is expected to be worth 23028.50 at the end of the lease, so over the course of a lease, you will only be paying for 20k of the car, minus any down payment or discounts you got off of the Capital Cost.

So what about the money factor? It's basically the interest rate, just more confusing. Kia's money factor is pretty bad, and it ends up being roughly ~6% interest.

So your monthly payment ends up being (Capital Cost + Taxes + Interest - Residual)/36. At the end of the day though, since everything else is pretty static, the real indicator of a good deal is the Capital Cost. Assuming what you wrote up there is correct, and they're waiving all fees except the acquisition fee, we can do some quick napkin math to figure out what kind of deal you're getting. It won't be exact, since we're guessing a few things, but here is your price if you were to pay exactly MSRP:

MSRP: 43,450
Capital Cost Reductions: 6600 (Lease Cash)
Taxes: 2600
Fees: 400
Money Factor: 0.0025
Residual: 22,159 (51%)

Payment: $664

So if we play with the numbers a bit, it ends up looking like the Dealer gave you a discount of ~3k off of sticker. Also, that MSRP looks low. That's the MSRP for the GT1 with no options, adding Drivewise and LSD brings the MSRP up 2k. If you can confirm you're getting those options at that price, that makes the car an even better deal, putting you at at 4k below MSRP.

 

[mikestevens]

Thanks so much. This was extremely helpful!!
I got the MSRP straight from Kia Site.
Stinger GT $40,550
Drive Wise $2000
Destination $900

 

[BlaydeX15]

Thanks so much. This was extremely helpful!!
I got the MSRP straight from Kia Site.
Stinger GT $40,550
Drive Wise $2000
Destination $900

The GT1 is a step above the GT. the GT1 has the sunroof and the nicer stereo, and has an MSRP of 43,250.

 

[MerlintheMad]

The one thing I did that made buying out stupid after the fact was getting 15K miles. You want to drop your miles to 10K if you plan on buying out the lease right away.

 

[Paul32]

Thanks so much. This was extremely helpful!!
I got the MSRP straight from Kia Site.
Stinger GT $40,550
Drive Wise $2000
Destination $900

You said GT1 not GT?

 

[mikestevens]

Sorry - that was my mistake. I meant GT

 

[niko]

Are you sure the 2019's will have the 360 camera wouldn't mind having that.

they r having that wireless charging, 360 camera, lsd to all gt's, rear heated seats and coasting to neutral control.
then if u want 2.0s they have some major upgrade mostly interior stuff trying make it like the 3.3gts