kia stinger store

Lease then Buyout - Contract Explanation

Izzmit

New Member
4
0
1
Looking back through the posts, it looks like the adjusted cap cost @$29,613 should be my buyout, very close to my original $29,170 number.

Looks like lease incentives are gone for now? Stupid first of the month, throwing everything off.
 

trooper1414

New Member
4
0
1
Hi, I'm new to this. In the bay area, I have a general understanding of the procedure...but can someone help me what's the price I should target for a 2021/2022 Stinger Gt2 AWD? With the lease cash buyout.

I am happy to do a zoom or Skype call if required
 

captainstevo

Newish Member
9
5
3
Looking back through the posts, it looks like the adjusted cap cost @$29,613 should be my buyout, very close to my original $29,170 number.

Looks like lease incentives are gone for now? Stupid first of the month, throwing everything off.
If you go to Kia's website and build out the car you want, when you get to pricing it will show the incentives. I actually saw some on the '22's when I did that yesterday, although they were light. I'm close to pulling the trigger too, but I'm going hold out to see if the incentives increases through the year once these have been on lots for a bit.
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glhfddka

Member
24
14
3
Hi, I'm new to this. In the bay area, I have a general understanding of the procedure...but can someone help me what's the price I should target for a 2021/2022 Stinger Gt2 AWD? With the lease cash buyout.

I am happy to do a zoom or Skype call if required

Lease incentives aren't big enough anymore to make lease buyouts worthwhile on 2022 models. For SF zip codes, I'm seeing only $3800 lease cash on 2022 GT2 AWD models on autobytel. Instead you could just finance it for one of their promotional special low rates and get around that value back by putting your money to work, with much less hassle than doing a lease buyout.

Still some opportunity on 2021 models ($6700 lease cash) but its nothing like the heydays with over $10,000 lease cash discounts, which made lease buyouts a no brainer.
 

trooper1414

New Member
4
0
1
Lease incentives aren't big enough anymore to make lease buyouts worthwhile on 2022 models. For SF zip codes, I'm seeing only $3800 lease cash on 2022 GT2 AWD models on autobytel. Instead you could just finance it for one of their promotional special low rates and get around that value back by putting your money to work, with much less hassle than doing a lease buyout.

Still some opportunity on 2021 models ($6700 lease cash) but its nothing like the heydays with over $10,000 lease cash discounts, which made lease buyouts a no brainer.
Thank you so much for your prompt response. I guess I have no choice but to wait and risk it to see if 2021 lease cash account goes up..
And what's the max I can hope to negotiate of MSRP?
 

rci3044

Newish Member
9
6
3
I just got back from negotiating a 24/10K lease deal for a 2021 GT2 AWD. The sticker had the MSRP at $53,780 and I could only get them talked down another $1280 for an MSRP of $52,500. I was able to get all the addendum items removed too. So, with the lease rebate of $6,700, the residual value was listed at $30,117. I, too am wondering what more I can get them to take off the MSRP. OR, do I already have a good deal?
 

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andyecon

Member
38
25
18
I just got back from negotiating a 24/10K lease deal for a 2021 GT2 AWD. The sticker had the MSRP at $53,780 and I could only get them talked down another $1280 for an MSRP of $52,500. I was able to get all the addendum items removed too. So, with the lease rebate of $6,700, the residual value was listed at $30,117. I, too am wondering what more I can get them to take off the MSRP. OR, do I already have a good deal?
Where are you? I had to contact a dozen dealerships, but eventually one gave me 8% discount on a GT2 before incentives with low fees and no add ins. I was able to leverage that to get two more dealers bidding and ended up with 8.6% off and free maintenance and tinting. You just need that first good offer and then it gets much easier!
 

rci3044

Newish Member
9
6
3
I am in Utah and there are not any other 2021 GT2's here or in Idaho. Edmunds puts the MSRP at about 50500. This dealer has had this Stinger for more than a year so I'm hoping this will help me get a deal at MSRP or better.
 

andyecon

Member
38
25
18
I am in Utah and there are not any other 2021 GT2's here or in Idaho. Edmunds puts the MSRP at about 50500. This dealer has had this Stinger for more than a year so I'm hoping this will help me get a deal at MSRP or better.
The offer that got the ball rolling for me was from Chicago and I’m in Kansas City, so even a distance offer can get them to move their price. At that paltry discount, you’d be better shipping from across the country in all honesty.
 

rci3044

Newish Member
9
6
3
Good point. Well, it's good to know you got 8.6% off plus some other goodies. I'll expand my search out into Colorado and east Nevada and Oregon. 8.6% off $53,780 would put the MSRP at about $49,200. That $6700 lease rebate will put me at $42,500. This next week should prove interesting...
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andyecon

Member
38
25
18
Good point. Well, it's good to know you got 8.6% off plus some other goodies. I'll expand my search out into Colorado and east Nevada and Oregon. 8.6% off $53,780 would put the MSRP at about $49,200. That $6700 lease rebate will put me at $42,500. This next week should prove interesting...
One thing to note is that there is a $650 acquisition fee, in addition to other government fees, so you will be around $53,500 for the final cap cost. Also, the MSRP remains $53,780 for determining the residual value (not that it matters much if you intend to buy out immediately).
 

MerlintheMad

Sustaining Member
14,650
4,327
118
West Jordan, Y00TAW
Hi. Where in Utah are you located? You're right about MY21 being gone. Jerry Seiner of South Jordan only had one amidst a dozen or so MY22; this was a couple weeks ago.

But you should be able to get more than $3K off. I base that on my experience, which started with a dealer discount of $2,900; and they said that their max discount would be $500 more than that if we didn't lease and paid cash. The lease incentive on a GT1 at that time was $5,900; and financing incentive was $1,000; so the smallest discount we were going to get was by paying cash. (We leased, then three months later I found out here about buying out the lease and we did that.)
 

rci3044

Newish Member
9
6
3
I am near Brigham City. There is one more 2021 GT2 in Layton. However, I have found 4 of these Stingers in Colorado, of which 3 are priced less on their websites, and one has already made me an offer that beats the dealer in Layton. I expect to hear from the other 3 tomorrow.

An interesting thing when I have crunched numbers for the 2021 GT2 AWD: if I understand the lease buyout idea correctly, I might actually have similar monthly payments if I can get financing through Kia at 6yrs and 0%. The best interest rate I have qualified for if I do the lease buyout is 6yrs at 2.9%. Please help me out here, if one of these Stingers has an MSRP of 53,780 and I get them to take 4000 off that, then I am at 49,780. Then, I get $6700 in lease cash and that brings me down to 43,080 (I know there are dealer fees here but let's just allow $1000 give or take). Wouldn't the lease buyout also be $43,080 (if it's more or less, please enlighten me)? If so, then my monthly payments at 2.9% for 6yrs is $652.62. Now, if I go with financing the MSRP is 53,780 and there is a 2500 rebate and then a 3795 rebate from the dealer so I am at 47485 (again there are dealer fees too...). This cost split into 6yrs at 0% is $659.51. Maybe the lease buyout isn't that big a deal. Of course, that's assuming Kia offers 0% for 6yrs.

One final question, does anyone know if I would need to return to the dealer to complete the lease buyout in Utah AND Colorado?
 

MerlintheMad

Sustaining Member
14,650
4,327
118
West Jordan, Y00TAW
I am near Brigham City. There is one more 2021 GT2 in Layton. However, I have found 4 of these Stingers in Colorado, of which 3 are priced less on their websites, and one has already made me an offer that beats the dealer in Layton. I expect to hear from the other 3 tomorrow.

An interesting thing when I have crunched numbers for the 2021 GT2 AWD: if I understand the lease buyout idea correctly, I might actually have similar monthly payments if I can get financing through Kia at 6yrs and 0%. The best interest rate I have qualified for if I do the lease buyout is 6yrs at 2.9%. Please help me out here, if one of these Stingers has an MSRP of 53,780 and I get them to take 4000 off that, then I am at 49,780. Then, I get $6700 in lease cash and that brings me down to 43,080 (I know there are dealer fees here but let's just allow $1000 give or take). Wouldn't the lease buyout also be $43,080 (if it's more or less, please enlighten me)? If so, then my monthly payments at 2.9% for 6yrs is $652.62. Now, if I go with financing the MSRP is 53,780 and there is a 2500 rebate and then a 3795 rebate from the dealer so I am at 47485 (again there are dealer fees too...). This cost split into 6yrs at 0% is $659.51. Maybe the lease buyout isn't that big a deal. Of course, that's assuming Kia offers 0% for 6yrs.

One final question, does anyone know if I would need to return to the dealer to complete the lease buyout in Utah AND Colorado?
I don't know about Colorado, but Utah does not require you to do the buyout through the dealer. "My" dealer didn't even know I had done the buyout until earlier this year, when I told them (they had called to ask if I was interested in trading in on a new car, i.e. rolling into a new lease).
 

rci3044

Newish Member
9
6
3
Thanks for letting me know about Utah. I'm still hoping the dealer will beat what I am offered from Colorado. Does anyone else know if one must go to the Kia dealership to complete the lease buyout? BTW, I have been very pleased with the info being shared here and the candor of it. Some of the other forums I frequent have members that are rather difficult.
 

Sabs

Active Member
323
174
43
Arizona, USA
April's incentives are available. They are identical to March for both 2021 and 2022 in all GT trims.
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2Slo4u

Active Member
112
71
28
Thanks for letting me know about Utah. I'm still hoping the dealer will beat what I am offered from Colorado. Does anyone else know if one must go to the Kia dealership to complete the lease buyout? BTW, I have been very pleased with the info being shared here and the candor of it. Some of the other forums I frequent have members that are rather difficult.
In Utah, you do not need to go to a dealer to buyout the lease. Wait till it posts to the Kia website and then you need to call them to get the buyout packet. If you're financing from a lending institution, they will be very familiar with the buyout process. The one thing that is not mentioned is that the lending institution will typically make you register the car first as a leased car, then they will give you a loan. Then, once you do the buyout, you'll need to re-register at the DMV in your own name. You don't have to pay sales tax twice but you will need to pay registration twice. At least that was my experience.
 

stingerstevo

New Member
1
0
1
I am near Brigham City. There is one more 2021 GT2 in Layton. However, I have found 4 of these Stingers in Colorado, of which 3 are priced less on their websites, and one has already made me an offer that beats the dealer in Layton. I expect to hear from the other 3 tomorrow.

An interesting thing when I have crunched numbers for the 2021 GT2 AWD: if I understand the lease buyout idea correctly, I might actually have similar monthly payments if I can get financing through Kia at 6yrs and 0%. The best interest rate I have qualified for if I do the lease buyout is 6yrs at 2.9%. Please help me out here, if one of these Stingers has an MSRP of 53,780 and I get them to take 4000 off that, then I am at 49,780. Then, I get $6700 in lease cash and that brings me down to 43,080 (I know there are dealer fees here but let's just allow $1000 give or take). Wouldn't the lease buyout also be $43,080 (if it's more or less, please enlighten me)? If so, then my monthly payments at 2.9% for 6yrs is $652.62. Now, if I go with financing the MSRP is 53,780 and there is a 2500 rebate and then a 3795 rebate from the dealer so I am at 47485 (again there are dealer fees too...). This cost split into 6yrs at 0% is $659.51. Maybe the lease buyout isn't that big a deal. Of course, that's assuming Kia offers 0% for 6yrs.

One final question, does anyone know if I would need to return to the dealer to complete the lease buyout in Utah AND Colorado?
Hello I'm pretty sure the financing incentive through kia is 1.9% for 72 months. I also don't think that you can combine incentives on the 2021's and get the 2500$ back and also the financing incentive.
 

rci3044

Newish Member
9
6
3
I do appreciate the comments here and they have enhanced my understanding of the process. I went ahead and leased the Stinger yesterday! The lease buyout was the best way to go for me. I was able to get 9.5% off the MSRP (the dealer claimed this was below their invoice), all of the addendum items removed, and the $6700 lease rebate. Kia Finance sent me a notice early this morning and I can already see the buyout amount in my account. I'll be calling them tomorrow morning to confirm if sales tax is included in this buyout quote and to get my buyout packet as was mentioned in an earlier post (thanks, 2Slo4u). I've been preapproved at a bank so I should be good to boogie!

BTW, the dealer did say that I could NOT get the 1.9% financing for 72 months AND the $2500 back. So, I can confirm what you stated stingerstevo.
 

andyecon

Member
38
25
18
I do appreciate the comments here and they have enhanced my understanding of the process. I went ahead and leased the Stinger yesterday! The lease buyout was the best way to go for me. I was able to get 9.5% off the MSRP (the dealer claimed this was below their invoice), all of the addendum items removed, and the $6700 lease rebate. Kia Finance sent me a notice early this morning and I can already see the buyout amount in my account. I'll be calling them tomorrow morning to confirm if sales tax is included in this buyout quote and to get my buyout packet as was mentioned in an earlier post (thanks, 2Slo4u). I've been preapproved at a bank so I should be good to boogie!

BTW, the dealer did say that I could NOT get the 1.9% financing for 72 months AND the $2500 back. So, I can confirm what you stated stingerstevo.
Great deal, congrats! What market are you in?
 
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