MarkyMark
Active Member
Well, you'll save another $100 - $150 in interest...
Lease numbers not making sense...
- Thread starter mcmckuf
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Ryan Autry
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Good to know!
StungBlueGT2
Sustaining Member
Ryan I’m trying to help you understand the facts but seems like you’re stuck on these inaccurate figures.
It would be too much to explain all the details, but your missing multiple costs so almost everything in your calculations are incorrect. To start you must add the $900 destination fee and other fee each dealer is charged so invoice is actually $47,542. Next, add $650 lease acquisition fee+$200-500 DMV fee+$500-1k Dealer Doc fee(few don’t charge but rare)+$30-50m Taxes(Per state laws & usually added to payment). That’s all standard before any additional “addendum” costs and typically adds $2k-3k to the invoice price. Those costs by themselves add $60-$100m to your calculations which puts you exactly at the $630-650m I’ve been quoting...Not to mention the latest lease incentives just got worse for March and will add another $10-15m more.
I do agree with you about the “addendum” costs and never let a dealer add anything to the MSRP!
Again I’m just trying to help so misinformation is not passed around giving people false hope. But good luck on your search and hope you do find a great deal once contracts are signed!
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StungBlueGT2
Sustaining Member
Good point, however for leases you prepay your month opposed to a purchase where you pay at the end.
So if first payment and/or DMV fees are not paid up front then they must be rolled into the monthly payment. That would be an increase of $10-$30 on every payment depending on terms and base monthly payments. Just something to consider if payment amount is a deciding factor.
Ryan Autry
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Ryan I’m trying to help you understand the facts but seems like you’re stuck on these inaccurate figures.
It would be too much to explain all the details, but your missing multiple costs so almost everything in your calculations are incorrect. To start you must add the $900 destination fee and other fee each dealer is charged so invoice is actually $47,542. Next, add $650 lease acquisition fee+$200-500 DMV fee+$500-1k Dealer Doc fee(few don’t charge but rare)+$30-50m Taxes(Per state laws & usually added to payment). That’s all standard before any additional “addendum” costs and typically adds $2k-3k to the invoice price. Those costs by themselves add $60-$100m to your calculations which puts you exactly at the $630-650m I’ve been quoting...Not to mention the latest lease incentives just got worse for March and will add another $10-15m more.
I do agree with you about the “addendum” costs and never let a dealer add anything to the MSRP!
Again I’m just trying to help so misinformation is not passed around giving people false hope. But good luck on your search and hope you do find a great deal once contracts are signed!
My lease monthly calculations are after all taxes and fees.
From interior to exterior to high performance - everything you need for your Stinger awaits you...
MarkyMark
Active Member
Hello Ryan,
I'll lay this out as an example so you can plug in your own numbers, email your numbers to the dealer and see if they'll say yes or no. If not, move on I say! ; )
GT + Saftey Pkg, + Shipping
MSRP = $41,250
Invoice: GT $35,973 + $1,826 Drive Wise Invoice = $37,799 + $900 shipping
Total Invoice: $38,699 (38,700)
Invoice/Purchase Price (I will at LEAST start at if not another $500 off via Costco): $38,700
Money Factor = .00168 (after taking off -.00040 - called the Reserve, from the .00208, which the dealer can take off).
Residual = 54%
Gross Cap Cost = $38,700
Adjusted Cap Cost = $38,700 - $5,000 (lease cash) = $33,100
NOTE: You need to install your state tax on top of the Adjusted Capital Cost and continue on with the formula
Residual Value = $41,250 * .54 = $22,275
Depreciation Amount = $33,100 - $22,275 = $10,825
Base Payment = $10,825 / 36 = $300.70
Rent Charge = ($33,100 which is the adjusted capital cost + $22,275 Residual) = $55,375 * .00168 = $93.03
36 Month Monthly Payment = $300.70 + $93.03 = $393.73
Title/Licence/Fees = $300 (est)
Document Fee = $200 (estimate AND totally negotiable with the dealer. That's a commission line)
Acquisition Fee = Bogus. You've paid the $900 Destination Charge on the sticker. This is nothing but a grab from the dealer. Refuse.
Any other Dealer fees = Uh, no.
36 mo Lease Payoff = $10,825. You may pay your first month payment w/Rent Charge at the dealer or roll it into the total cost. Your choice. Save a bit of interest if you don't pay it and just pay this all off in a week or so via KMF.
Lease Buyout Fee: $300 (Kia Motors Financial, Required)
Residual to Payoff (54% of MSRP): $22,275
Versus flat, out, purchasing at Invoice, this will save you - at the end of the day - about $3k, which I think is worth it.
If I missed anything or didn't get a portion right, feel free to add/correct folks. Hope this helps. Thanks!
Pretty sure acquisition fee is a KMF fee and not a dealer fee so the only way they can get rid of it is to decrease the price of the car by 650. Also, I thought the reserve was how much they could add to the MF. Not how much they can take away. Those MF numbers you see on the lease number docs are the best you can do and then they can mark it up from the way it was explained to me.
MarkyMark
Active Member
KMF has a buyout fee - that is all.
Pretty sure you're incorrect. And Kia also has a disposition fee when you turn the vehicle back in, so just a buyout fee is also incorrect. Where are you getting your information from? I'm pretty sure I saw someone tell you before that it wasn't negotiable, as well. Have you ever leased before? All banks charge an acquisition fee when you lease. It's best if misinformation isn't spread because there are a lot of people coming to this forum for help. Now if you have a link to prove otherwise, I'll gladly retract my statement, but having experience with multiple leases, I can tell you that acquisition fees are a part of the process. Also, see below. Now if the dealership is marking up the acquisition fee, that'
totally different.
Looking to lease? Read our car leasing basics.
MarkyMark
Active Member
A Disposition Fee is $400 if you return the lease, correct? However, if you are calling in to buyout the vehicle,the Disposition fee is replaced with a $300 buyout fee. Oh the fees... It's enough to make me just say, give me a $2k rebate in the fall, on top of the -$500 off Invoice Costco pricing and be done with it...
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From interior to exterior to high performance - everything you need for your Stinger awaits you...
Right, disposition fee if you turn it in, and buyout fee if you buy it. I was just pointing out that buyout fees aren't the only fees that KMF charges, and that they most certainly do charge an acquisition fee.
Edit: they also show that they charge an acquisition fee when you go to their website and use the payment calculator for a lease. You're not getting out of that fee. Fees are probably why most people don't immediately buyout leases, ha. However, in this case, I'd say it is still worth it.
MarkyMark
Active Member
Acquisition Fee is likely to help cover depreciation costs - reduce their risk with your wallet. Seriously 54% residual is really pushing it, so these companies want to cover their risk... Thanks for that.
Carlos C
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Never heard of an appearence fee..sounds like a rip off
MarkyMark
Active Member
So it appears you/they didn’t even work the MSRP down a few thousand?... I’d ask if they are part of the Costco program first. If so, they should be $500 BELOW invoice to start. Then the military (not sure that applies to a lease..), and certainly all the lease cash.
As for “Appearance fee” what is that? I’m assuming/guessing some 3M paint/scratch protectant film on the hood and such and maybe a fun or?... can’t imagine what’s in that dealer added markup, it if it is nothing - then all they have done is given you Factory discounts, nothing on their part, and market the MSRP up with this odd appearance fee...
As for “Appearance fee” what is that? I’m assuming/guessing some 3M paint/scratch protectant film on the hood and such and maybe a fun or?... can’t imagine what’s in that dealer added markup, it if it is nothing - then all they have done is given you Factory discounts, nothing on their part, and market the MSRP up with this odd appearance fee...
Mach_Tuck
1000 Posts Club!
Section 9 of the lease agreement details the buyout fees, if any. Mine are $0. There is another section, not sure the number, that shows the "turn in fee" of $400 (its towards the top). This $400 is also included in the section that has the "total you will have paid at lease end." (also towards the top)
Lease fee is only negotiable if you can get them to remove from purchase price. All dealers i went to were $650. I think online it says KMF is $595 standard so they "juiced" me a little on it.
Lease fee is only negotiable if you can get them to remove from purchase price. All dealers i went to were $650. I think online it says KMF is $595 standard so they "juiced" me a little on it.
From interior to exterior to high performance - everything you need for your Stinger awaits you...
4wheelpilot
Active Member
If you can really get those numbers go sign the paperwork right now!!!
I sold cars for years and know they gave you the “let them walk” numbers nobody can meet. Without even running those numbers through a finance calculator yet I know that would be “thousands” under invoice! I’m sorry to burst your bubble but no dealer is going to lose that much on a Stinger... Go read others posts on actual deals people got and you’ll see those number are almost $100/m off. Dealers play these “games” all the time and unfortunately it gives false hope to innocent people that don’t know any better...But good luck on your search and if anyone will get close to those numbers BUY IT on the spot!!!
In addition to your experience, and in addition to the numbers being accurate, the one thing that can make comparisons difficult is that each State has different taxes on a leased vehicle.
It would be very helpful if anyone giving monthly lease amounts would break down the total to monthly lease amount-then tax as a separate number.
StungBlueGT2
Sustaining Member
This wont work for every case as each states taxes are collected differently. Some states make you pay taxes up front like a purchase, while others will roll them into the monthly payments. In FL its included monthly, but each county's taxes can be a different percentage so it makes apples to apples comparison very difficult. Just make sure the numbers you're comparing are "tax-in" vs. "plus taxes", etc.
