The amount I owed to drive away included the first month's payment. I've never heard of that being negotiable.
What do you think that is? I've never heard of that. Kia puts up the buyout amount on your account online and it changes each month into the lease. Kia does not advertise/encourage doing the buyout of a lease. But they don't put up a stink about it.
Not that i know of
I remember yes, to that. Any liens or other unknown charges that you incur, Kia says that those are (of course) not included. It's in the print at the bottom of the buyout page.
It’s been a huge PITA dealing with lenders on this buyout. 3 lenders were easy and one is specific for details asking about taxes and crap. I have to deal with the local dealership in my state because KIA finance is not license to do so like Florida. Now the dealership says I have to finance through them or I’d lose my warranty on the buy out. Is he bullshitting or what? Plus I still have to pay more sales tax and fees to the dealership. This has been an aggravating and worse experience that I already regret getting the Stinger.
Warranty part is BS, as your still the original owner.
I paid taxes on the lease contract as indicated in section 11 Line B. Dealership said it was not included and I have to pay another $500 in taxes and $39 tag fee. Kia Motor Finance cannot do ANYTHING at all here (spoke with 3 different reps) because they are not licensed in the state and that I have to deal with the dealership since they are doing this on KIA Motors Finance behalf.
How much is registration? Ten more months of lease rent is $1,170. I doubt that registration x 2 comes anywhere near that. But even if it does, why pay lease rent on top of registration x 2? Buyout is most valuable the earlier the better.
Probably in the 700-800 range.. but wouldn't the finance charge (interest) on the loan offset the $1,170? It would be $1160 over that same period of time... or am I missing something?
Ah hah, yes, you bring up the often not compared difference between lease completion and buyout with a loan. Unless the loan to do the buyout is at a considerably lower interest rate than the lease rent amount, it really doesn't make sense to do the buyout at all. I always think of cash to do the buyout, because that is what we did. The buyout is only about one thing: getting the largest amount off MSRP by taking Kia's largest incentive; then getting the car owned outright as soon as possible. Anything that takes a loan or takes longer, is just diminished returns.
Hello again, so as you know I went with the 2021 GT2 lease for 24 mon and 12k/year. Today I received my paperwork from KMF and it got me thinking again on when I should plan to buyout the lease. I was searching and searching on here and I guess I'm not plugging in the exact terminology because I cant seem to find the threads I was reading last time about the buyout strategy. I also began to worry about my taxes on my contract because I feel like the total amount was included and now i wonder if i got shafted because in other readings maybe they should have only taxed me on the lease payment and not the total agreement price? Just when I thought I finally understood all this new jargon I'm doubting the numbers I agreed to.
Yep, that's some BS. makes absolutely no sense. My credit score went down by 31 points!! Now when I buy out the lease shortly there will be another hard inquiry. That's a sh_tty move on KMF part. They most definitely can use the dealerships pull especially since its been less than a month since it was originally was pulled. RRRggg.
Say what? How could that be? A payoff would I presume because of daily interest but not the actual loan amount right?
That's a great point, wasn't figuring on the additional debt to income ratio. I appreciate the clarification.
