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Lease then Buyout - Contract Explanation

Discussion in 'How to Buy a Kia Stinger' started by Mach_Tuck, Feb 19, 2018.

  1. Waynerm002

    Waynerm002 United States 1000 Posts Club!

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    MY CU took my buyout info, contacted KIA when I was on the phone to confirm the amount, cut me a check for it, I sent it to KIA and once they cashed it and it showed paid, I started to ask for the title. It came about 3 weeks later. The only thing KIA asked for from my was the odometer statement (of course the payoff check was needed first), I faxed it to them multiple times just to make sure they got it and then got the title, got the car re-titled and that process is now done.
     
  2. rippingpants

    rippingpants United States Newish Member

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    Give them a call. If they don't have you in the system, contact your dealer.
     
    • Agree Agree x 1
  3. mulepic

    mulepic United States Newish Member

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    It took 2 months before my kmfusa profile was available, but this was mainly b/c the dealer needed to correct the documentation and dragged their feet doing so. 4 weeks isn't unheard of, but You should call kia financial 855.278.0432
    and ask if your documentation has been submitted by the dealership and is complete. I called them every other day to find out the status of my paperwork and called the dealership to make them aware of any mistakes....I had to resign twice.

    Once kia financial approves the paperwork it goes on to kmfusa.com then you'll get an online profile. Their customer service number is 1.866.331.5632 I called them weekly for 3 months. I took deliver of my car in middle July and didn't have my title in-hand till middle of October. Just stay on it.
     
  4. Jimbeaux

    Jimbeaux United States Newish Member

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    KMF balloon loan sheet uploaded. No 2019 Stingers. List allowable states. Finding most dealers don’t want it or don’t know about it. Dealers are now mini banks who make their money financing 7 year loans.
     

    Attached Files:

    • Like Like x 2
    • Informative Informative x 1
  5. Brandon V

    Brandon V United States Newish Member

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    Thoughts on this lease offer? Sorry for bad quality. Should I put money down? I am planning on doing a buyout to own after 1-2 months. Anything I should ask for from the dealer?
    image1.jpeg
     
  6. Bugout

    Bugout United States Member

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    Decent numbers. Don't put anything down unless you plan on buying it out immediately. If the car gets totaled before the buyout goes through you lose it all.
     
  7. sergey

    sergey United States Newish Member

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    how did you get 12k rebate?
     
    • Winner Winner x 1
  8. robz32

    robz32 United States 1000 Posts Club! Staff Member Moderator Texas Stinger Swarm

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    Are all those options currently installed on the car? Whats "Nitro"?

    That Dealer fee is kind of high
     
    • Like Like x 1
  9. sergey

    sergey United States Newish Member

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    ask to not charge you for any accessories, and 3k dealer discount is atrocious that late in the year. I had dealer begging me to buy yesterday with 8k discount I didn't yet.
     
  10. brancky3

    brancky3 United States Active Member

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    Nitrogen-filled tires for $149. lolol
     
  11. sergey

    sergey United States Newish Member

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    imagine, he walks into dealership as a saviour, to relief them from that 2018 GT2 stinger in the end of 2018, and what he gets? Nitrogen filled tires for $150. I'd ask for $150 more of discount if id be offered them.
     
  12. mulepic

    mulepic United States Newish Member

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    Yep, lots of junk fees on there. But at the end it's about where I ended as well. $37k adj cap. cost then tax, title, junk fee, etc. = total payoff $39,500.
     
    • Like Like x 1
  13. MerlintheMad

    MerlintheMad United States 2500 Posts Club!

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    This: I've not heard of such a yooge rebate before. Whence cometh it from?:p Maybe they are just inflating the rebate and using that to pad the discount? Why, though?

    That price seems like a good one for a brand new GT2. So how one arrives at a nice final price is kind of pointless to worry about; it's their numbers game. Final price is the only thing that matters.
     
  14. Indy499

    Indy499 United States Member

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    They're combining lease cash (8k), regional AWD bonus (1k) and lease cash (3k). They shouldn't be able to do that, but who's gonna complain about getting an extra 3k rebate?
     
    • Like Like x 1
  15. Menissalt

    Menissalt United States Member

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    nevermind
     
  16. Brandon V

    Brandon V United States Newish Member

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    Not sure but I am not going to disagree with them.
     
    • Funny Funny x 1
  17. Brandon V

    Brandon V United States Newish Member

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    Well the dealer took off all the add-ons and my final price is 39,600. I am not going to put money down and will buyout the car after it is in the KMF system. Thanks for all your help. I did not even think about doing the lease then buyout options when I started this process. I will hopefully welcome home my new GT2 tomorrow afternoon.
     
    • Like Like x 2
  18. Waynerm002

    Waynerm002 United States 1000 Posts Club!

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    That’s a better price for that car, let us know when you get it.
     
  19. Brandon V

    Brandon V United States Newish Member

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    Well, the lease is signed and the car is mine. Next step will be contact KMF in the next month or so to get my buyout figure. I am assuming it is around 41000 + (rent + highway use tax for the number of payments). Would that be correct. I also have to pay a 3% highway tax (our sales tax in NC) at title transfer after the buyout. It will be about a 7-8 thousand savings if all goes well. I have attached the important section of lease for reference.
     

    Attached Files:

  20. x4nd3r05

    x4nd3r05 United States New Member

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    Had a dealer offer me 5000 bonus cash on a 2019. Still didn't bring down the price enough for me. Couldn't agree on 46,900 otd for ceramic grey gt2 awd. Will wait til the bonus cash reaches 7700 again for 2019.
     
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