New 2018 GT1

[rytabb]

Looking at getting a new 2018 GT1 and had some questions on the lease buyout process. I found the exact car I was looking for in a different state (Illinois)... I'm in California. As of now it's listed at 41,975 but I think I should be able to get it a bit lower (correct me if I'm wrong).

First, given the two states, would a lease buyout make sense?

According to Edmunds if I take the 24 month lease option, they offer $8,700 as a bonus offer. Is that able to be combined with the $3,000 conquest competitive bonus? If so, thats now $31,275 after incentives. A seemingly incredible deal on a new 2018 GT1... Am I missing anything important?

Can someone also help me understand the additional taxes and fees that would be involved in that?

Thank you!

 

[MerlintheMad]

Someone with more experience will add to this: but a starting price of c. $42K for a MY18 GT1 is not a deal. By now the dealer discount should be a minimum of 10% off MSRP. If the GT1 is AWD, the MSRP was $45,600; a RWD would be $2,200 less than that. So that is a sucky dealer discount on last year's car!?

As for taxes, some states charge twice because Kia owns the title when you lease, and when the title changes hands (you get it) they unfairly define that as tax owed again, so you end up paying twice. Grr! Probably Cali isn't one of those? Don't know.

Buyout makes sense in either case because the lease incentive is BIG. I have read on here that conquest is combined with lease incentive. Look the lease over and make sure that you get the incentive; I think on my lease the dealer added back in quite a few "fees and added costs" and our lease incentive was almost entirely used to pay for those. I would ask questions now that I didn't even think to ask going in. Good luck!

 

[rytabb]

Thanks for the thoughtful response. This particular model is AWD with the Advanced Driver Assistance Package. The MSRP is $48,405. Do you think the deal is better given that info, or should I still expect to go even lower? If lower, what would you think is reasonable? Thanks again.

 

[MerlintheMad]

The benchmark, pretty much the consensus on here, is that a MY18 should have a minimum of 10% off MSRP dealer discount before incentives. So that package is a 13% discount from the dealer up front: that's a good deal! Go for it if you like everything about the car.

If that is the starting dealer discount you can try for even better. 15% is probably within reason. (But I am not a haggler and would never tell someone else to push hard for the rock bottom deal.)

By contrast, your $41,975 is only c. 3% discount from a base GT1 RWD.

 

[Ruturaj]

Agree with Merlin on here. 2020 will soon be out. I was able to get 7.4% off of MSRP on 2019 in December of 2018. You should be able to get twice at least (15%).

I would suggest 2019 if you are not planning to lease though. It has cooled seats and has better chances of not having any issues.

 

[Jeaddi]

There was a guy in Seattle that got a leftover 2018 GT2 AWD for around 42k before incentives. This was only about a month or so ago. I think you can go for more...

For reference I got 6k off a 2019 GT2 AWD just a few weeks ago.

 

[MisterMac]

I can't believe there are any lease options or incentives available on a 2018.

 

[Ruturaj]

I can't believe there are any lease options or incentives available on a 2018.

There must be, I think kia just stops posting those, dealers might have it.

 

[MerlintheMad]

I can't believe there are any lease options or incentives available on a 2018.

There must be, I think kia just stops posting those, dealers might have it.

I looked at Jerry Seiner's inventory a couple of months ago and they had (have?) several MY18 offerings. The lease incentive looked identical to the MY19 incentives. It wouldn't make any sense to not offer the same incentives: Kia wants to move those cars, and the dealer is doubly motivated to do so. A really good dealer discount on top of the incentives would swing the trick.

 

[MisterMac]

I looked at Jerry Seiner's inventory a couple of months ago and they had (have?) several MY18 offerings. The lease incentive looked identical to the MY19 incentives. It wouldn't make any sense to not offer the same incentives: Kia wants to move those cars, and the dealer is doubly motivated to do so. A really good dealer discount on top of the incentives would swing the trick.

Actually, once dealer support ends, which was April 30 for 2018 MY vehicles, Kia to customer incentives end. Not that it makes sense, it’s just the way it is.

 

[19GT-AWD]

Looking at getting a new 2018 GT1 ... it's listed at 41,975 ... they offer $8,700 as a bonus offer. Is that able to be combined with the $3,000 conquest competitive bonus? If so, thats now $31,275 after incentives ...

Conquest can not be added to leases.

For US prices, MSRP for an 18 GT1 AWD w/no options is $46,350, which is $2,817 over invoice.

Dealer Holdback is 3%, which = $1,390.

If the dealer truly sells the car at "cost", that's $46,350 - $2,817 - $1,390 = $42,143

Subtract $8,700 for the crunched 2 year lease, and that leaves you at $33,433.

If you can afford/risk a 2 year lease, $33,433 is the number you're stretching for. Understand that most dealers will not give up their holdback. And remember that the $8,700 Lease Incentive comes from KIA, not the dealer, so that doesn't effect them. Noting that dealers rarely take an actual out of pocket loss and therefore leaving out the holdback, $34,833 is the number you want.

 

[rytabb]

Just an update for anyone who might be reading this considering options for themselves, according to both dealerships I spoke with today, incentives are still available and can be combined with the competitive bonus.

 

[Ruturaj]

Just an update for anyone who might be reading this considering options for themselves, according to both dealerships I spoke with today, incentives are still available and can be combined with the competitive bonus.

Lease incentives can not be combined with competitive bonus. And focus on how much dealer discount you are getting as long as incentives are same.

 

[19GT-AWD]

FYI for anyone considering KIA Motors Lease: Conquest Competitive Bonus Program and Loyalty discount are not offered, only Military.