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Stinger Price Point Hardly Make Sense

Discussion in 'How to Buy a Kia Stinger' started by Paul Lindo, Apr 23, 2018.

  1. Paul Lindo

    Paul Lindo Canada Newish Member

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    Firstly, I only lease, I like new cars, and rarely keep a car beyond 3 years. I'm toying with the idea of a Stinger GT Limited to replace my BMW 340i when the lease is up in a few months, but the numbers give me pause. I'm in Canada, so I'm referring to Canadian prices.
    Stinger GT Limited MSRP $57,808, with no money down lease payment $1102 per month including taxes. 2018 BMW 340 Xdrive with the options I want (premium package, smart phone package, M performance 1 and 2 package, with M exhaust, 355hp 360tq) MSRP $69,456 minus $3,000 incentives. That BMW lease for $801 monthly for 3 years 20,000 KMS per year, taxes included.
    The point here is not to debate whether the Stinger can Compete with BMW's M performance 340i, it's just that I can't think of anyone who would lease a Stinger for $300 per month more than the comparable BMW. I guess the difference in payment is due to 1) higher interest rate Stinger Canada is offering, but 2) the main reason is the ridiculous depreciation expected of the Stinger, hence, whether you lease and purchase, it is a tough pill to swallow
     
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  2. Bear

    Bear United States Active Member

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    I don’t believe everything that I read, but an article came out about cars increasing in value. Sure, Kia hasn’t been known for quality, but in reality...it’s actually been topping quality lists. It may take a little bit of time for people to look past the 2000 era of cheap cars. I’m sure with what they’ve done in the Stinger will prove all that they need to.

    Stinger: USA Today's 10 Hot Vehicles to Increase in Value

    I look at it this way, if the vehicle looks good, has the features I want and is reliable...I’ll buy it. I don’t buy a “premium” car for its brand name anymore. I think my Audi that had 80,000 miles on it and cost me two arms and a leg to repair was a fat p.o.s. My first car was a 1993 supercharged mustang that I very very harshly drove and was still kicking at 137,000 miles when I sold it. That mustang was far more superior than the Audi.

    Lastly, you can negotiate a lower up front cost with Kia, more than you could with BMW. Which if you do it right and well enough, it offsets the lower depreciation of a Kia.

    I’ve had a 2014 Optima, 2015 Optima, two 2015 Sorentos and now my Stinger. I’ve kept the cars for rather short periods and kept upgrading to something better, but I wasn’t rolling over on trade-in because I typically negotiate 8-10k off the MSRP.
     
  3. Hydrajin

    Hydrajin Canada Active Member

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    I priced out the GTL and it's $949.17 monthly all in for 3 years at 3.99%. I don't know how u got that number but I'm on Kia.ca and that's the price I see. Dealership should be the same or less.
     
  4. Paul Lindo

    Paul Lindo Canada Newish Member

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    Kia.ca, the actual numbers are MSRP $52,080, 20K per year for 36 months. $852.44 before taxes, or $1133,30 after taxes. (saskatchewan)
    End value $26,040. The numbers in my original post includes $1,000 deposit
     
  5. StungBlueGT2

    StungBlueGT2 United States 1000 Posts Club! Sustaining Member

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    Wow. Canadian prices are insane and I thought they were supposed to be cheaper than the USA versions?:confused:I know it’s not apples to apples but my loaded GT2 listed for $50,100 and I only pay $600m 0 down taxes included for my 48m/40k. I know you have the currency difference but there is no way you should pay double?!?

    Also a BMW 440i base model was well over $700m for the same terms as my Stinger here isn’t the states so your numbers or something seems way off.:cautious: I could have sworn people were saving thousands going to Canada to get their Stingers so I’m not sure why you’re numbers seem so high. Maybe shop some other dealers before getting discouraged with some bogus numbers.
     
  6. Paul Lindo

    Paul Lindo Canada Newish Member

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    Numbers aren't bogus, they are from kia.ca, you can check it yourself. I haven't spoken to any dealer as yet, I'm just doing my homework. I really like the Stinger, and I'm not a brand snob, but I'm not going to lease a Stinger for a lot more per month than an Audi S4
     
  7. StungBlueGT2

    StungBlueGT2 United States 1000 Posts Club! Sustaining Member

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    Still seems like something is seriously wrong... Part of the reason people choose the Stinger is because it’s $15-$20k cheaper than a comparable 440i GC, S5 SB, C43 etc. No matter what, your payments should be 20% less than any of those cars. Kias main advantage is that it gives you 95% of the performance and features of any of those cars for a fraction of the price(20% less). Again, something seems very wrong with those numbers, or Canada just ruined any chance of the Stinger doing well there.:eek:

    Any other Canadian owners on here pay as much for their Stinger as an S4?!? Can anyone clarify if this price difference is common?

    If this is true then how are they selling so many Stingers in Canada? And why would some Americans drive to Canada to get their own Stingers? I’m sorry but nothing seems to add up, especially these numbers, so I’m thoroughly confused.:confused:
     
  8. westcoastGT

    westcoastGT 5000 Posts Club!

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    we dont lease ...................we buy
     
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  9. Paul Lindo

    Paul Lindo Canada Newish Member

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    If you understand lease, then you will understand the effect residual value have on monthly payments. The monthly payments on the Stinger is high, because of the high depreciation. Based on the numbers quoted, KIA expect the car to be worth only $26,000 after 36 months and 60,000KMS. The Audi and BMW will be worth maybe 20 grand more
     
  10. Paul Lindo

    Paul Lindo Canada Newish Member

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    Unless you plan on keeping the car forever, a faster than normal depreciation is a cost. When the time come to sell or trade, then you will understand. I'm not saying people should not buy the car, it's a gorgeous looking car, well built and full of features, but there's nothing wrong with understanding all the facts, and then make an informed decision
     
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  11. tofu

    tofu Canada Active Member

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    Yes, the Canadian lease numbers don't make any sense. That's why I ended up financing it.
     
  12. Paul Lindo

    Paul Lindo Canada Newish Member

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    Financing is the way to go, as long as you plan on keeping the car for a long time. It's a fabulous car, but for people like me who gets bored with a car after 3 years, financing wont work. To get the payment manageable, at least 5 or 6 year financing term is required. If I do that, and then trade after 3 years, the loan balance will be greater than the car value at that time, and that's the problem. The high depreciation, based on KIA's estimates, make the car more expensive to own than it appears just looking on the reasonable MSRP. If they keep making great cars like the Stinger, the resale value will eventually rise, and that will be a win win
     
  13. Hydrajin

    Hydrajin Canada Active Member

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    Stinger in Canada I way cheaper than in the us, the USD is 1.3 CDN on average and when we pay $49,995 for the GTL it's a fully loaded car, and the fully loaded Canadian spec has more options compared to the US spec. The Canadian Stinger is really a bargain considering the exchange rate and the additional option, which sucks for our southern neighbors but that's just the way Kia decided it must be.
    As for comparisons, I priced out a the GLA/CLA AMG which are less car than the Stinger in nearly every aspect except exhaust tone and they both came to about $65,250 (and that's without all of the carbon trim which would have cost an additional $3,500 that I really wanted). I also priced out the Audi S4 to about as close to the Stinger as I could get it and it came up to $69,190. All prices are excluding taxes because taxes will vary depending on where in Canada the vehicle is sold, in Ontario there is about $200 of fees associated with new car purchase and a 13% HST cherry on top. There really is no way to compare even lesser German automobiles (smaller and a class below) to the stinger, it's an absolute steal if you don't care for branding. As much as I love AMGs for the awesome sound, I have no brand bias really, I'll drive anything that performs and feels good to drive.
     
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  14. Hydrajin

    Hydrajin Canada Active Member

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    I will add though, I don't know what lease rates for Benz and Audi are so interest rates can throw everything off but for financing at the time I was making the purchase they all had a very similar finance rate within 0.5%. If anyone wants a good laugh, look at the finance rates for full size and larger vehicles from Lexus and Toyota lol.
     
  15. Paul Lindo

    Paul Lindo Canada Newish Member

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    You make fair points, but you also have to account for the higher depreciation on the Stinger, which is the main reason the lease numbers are so horrible
     
  16. Hydrajin

    Hydrajin Canada Active Member

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    You're right, but we still don't know the depreciation yet, German automobiles don't keep value here either but it may still be slightly better than Kia. I don't think that additional $15k+ adds up still, and for a car that is smaller and a class below the Stinger. Toyota depreciates the least but the rates are still jaw dropping, up to 6.29% for their larger vehicles.
     
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  17. tofu

    tofu Canada Active Member

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    I suspect the out the door numbers for most of the German competition would be lower than what's on the site, but I honestly didn't bother checking since I was already set on the Stinger anyway.
     
  18. westcoastGT

    westcoastGT 5000 Posts Club!

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  19. Hydrajin

    Hydrajin Canada Active Member

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    Those are out the door prices, I actually test drove these cars along with the 4Runner TRD off-road and the Tacoma TRD off-road before buying the Stinger. The websites are a little cheaper because they don't include dealership fees in the prices once u configure the cars.
     
  20. Jonathan Lasich

    Jonathan Lasich Canada Active Member

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    I currently drive a 2013 Mercedes C300. I eventually wanted to upgrade to a 2018 Mercedes C43 (MSRP$72K). I've also looked at the Stinger Limited (MSRP $52K). Calculated lease payments on both vehicles for the same term (45 months). Factoring in all of the current manufacturers leasing incentives and interest rates (of which there were basically none for the Stinger), the monthly payments were within $1 of each other (the Mercedes residual was almost $20K more at end of term). I guess Mercedes really wants your business more than Kia does!!
     
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