OTD on this GT1?

[StumpZ22]

Hi. Looking at a local dealer's GT1. My niece's husband is the finance guy there and keeps telling me he can get me a great deal. We all know how family transactions can sometimes turn out...

What do you think I should shoot for on this car for the OTD price? They have had an '18 sitting there forever so maybe they just don't deal much. Kind of a weird atmosphere at this dealer, super busy all the time and really chaotic. I have 4 months left on a lease so not pushing hard at this point and I have a feeling it will be there for awhile.

 

[Sabs]

Welcome!

First, read up on doing a lease buyout and see if that's something you're willing to do. That's how people are getting the lowest OTD prices. Financed, I think at best you'd be around $38k + TTL but could get closer to $35k + TTL with a lease buyout.

OTD price means including all taxes and fees, so that will depend on your local taxes and registration fees.

I wouldn't worry about the '18 still being on the lot - several months ago manufacturer incentives were taken away on '18's so it's hard for dealers to sell them without losing several thousand. Plenty of dealers are still sitting on them.

 

[StumpZ22]

Thanks for the info! I am a lease guy typically as I put a good amount of miles on a year and like to have newer cars. Though with the Kia warranty I might look to do the lease buyout thing, I will review that for sure.

 

[StumpZ22]

Thoughts on this lease? Thanks for any feedback.

 

[Sabs]

So just to start off - Kias don't lease well. The value proposition really only works with ownership. If you're certain you'd be buying out the lease immediately, then leases can offer excellent values.

If you'd rather not own, a $487/mo lease can get you a nice BMW. Or, you could get an alfa giulia, volvo, or infiniti with money left over.

If you're sure you still want to lease the full term, never put cash down. Let's say you lease and you're in an accident the day you drive off the lot. The car is totaled. You're out that $2200 down. Had you put zero down, you'd be out nothing.

This particular offer is decent if you'd be doing a buyout, but you'd get even more off with a 24 month lease.

If you're set on leasing the full term, a 36mo lease such as you posted would work out best (is this 12k or 15k miles)? I would shoot for around the monthly you posted, but without the $2200 down. That's about $60/month they'd need to come down, which may or may not happen.

 

[StumpZ22]

So just to start off - Kias don't lease well. The value proposition really only works with ownership. If you're certain you'd be buying out the lease immediately, then leases can offer excellent values.

If you'd rather not own, a $487/mo lease can get you a nice BMW. Or, you could get an alfa giulia, volvo, or infiniti with money left over.

If you're sure you still want to lease the full term, never put cash down. Let's say you lease and you're in an accident the day you drive off the lot. The car is totaled. You're out that $2200 down. Had you put zero down, you'd be out nothing.

This particular offer is decent if you'd be doing a buyout, but you'd get even more off with a 24 month lease.

If you're set on leasing the full term, a 36mo lease such as you posted would work out best (is this 12k or 15k miles)? I would shoot for around the monthly you posted, but without the $2200 down. That's about $60/month they'd need to come down, which may or may not happen.

Great info. Appreciate the reply. I understand the comparison to the “badge” names. This is for a 15k miles per year.

They are working on a 24 month for comparison and/or getting the sell price lower. I have yet to speak to them. I thought it was refreshing they sent the lease sheet right out to me.

 

[StumpZ22]

They have lowered the selling price over $1K. $2200 is first payment, taxes and DMV.

 

[Sabs]

I would still tell them you’re looking to do a no-money-down lease. Since there’s lots of lease cash to cover 1st payment/taxes/registration you wouldn’t have to pay anything at signing.

 

[StumpZ22]

NYS the taxes have to be paid at lease signing. DMV charges are what they are. I can ask about the first payment down.