What did you pay for your Kia Stinger?

[SilverNitr8]

I am really dumb on these deals.. I searched my area (DC/VA/MD) i didnt see any lease offers? Even the kia website doesnt show the 7900 lease. Can you walk through how you did it? For example, i built a GT2 worth 53k.... Now what? Do i go to dealer, negotiate on price first - lets say 47k OTD. Then ask for lease and mention the 7900 off? And whats KMF? I guess i take a loan out for the remainder from a bank and pay off Kia and now i own the car? Is this encouraged by the dealer?

Ok so one day Joe walk into a Kia dealership and met Billy Bob
Billy Bob: Waassssuuuppp man - you want a stinga? I got a deal for you that you can't refuse
Joe: Yeah man, you read my mind. I heard you got dis killer sale going on plus some crazy mucho loco lease cash rebate... wassup with that? is that a finger discount or some S#!T. Do I need to go around the back to make this deal?

Ok.... I'm kidding, but here's a short version of it from how I understood it.

1. If you want to see what the current offers there are for the stinger, one good source will be autobytel.com
2. Right now the lease cash rebate is 7900 + 1000 manufacturer rebate (I heard this is only on the east coast as some states don't offer this)

So how this works very short version.... there is a sticky on this forum explains it in more detail so I suggest you read up on that and learn all the terminology and how things are calculated.

1. Negotiate the selling price of the car. Nobody wants to buy at MSRP so why should you? This should be before incentives and rebates, before any taxes/fees.
2. You can let them know you want to lease the car in order to take advantage of the lease cash + rebate - it's not a trade secret, so you don't need to go around the back
3. Work the numbers to get the final cost of the car (i.e. tax 4.15%, acquisition fee 650, doc fees 700-800 in VA) if you have trade-in, negotiate it separately. Check KBB and NADA sites to see what your trade-in value.
4. Once you agree on the final price of the car - you'll need to pay up your first month's rent which includes interest on the car (first month's lease is usually paid up front).
5. Wait about a week for your paper work to show up on KIA Motor Finance (KMF) then request for the buyout amount of the car + a 300 buyout fee. This would be the remaining value of the car (ex. if the total selling price is 40k and lets say you paid about 20k with trade in including first months rent, the rough estimate of your remaining value will be around 20k) so you pay the remaining 20k + 300 buyout fee.... once that's paid, you now own the car... hurray!

So do most people go this route? 7900 lease cash vs. 2000 cash bonus, I think you'll know why. Ok. So what's the catch.... you don't really get all of the 7900 rebate because you paid interest on the car each month you make a lease payment - this is why the sooner you buy out the lease, the more money you save. If you let your lease mature, KIA gets all that rebate back from interest + could potentially cost you more than the MSRP if you decide to buy the car when the lease is up so DON'T DO THAT! Also, there's the buyout fee that you have to pay, but the savings is still a lot. If you can't write a check for the remaining value of the car, you can set one up a new car loan with your bank to pay the remaining balance, then you're back to regular financing on the car for a lower interest rate.

I think that's pretty much the gist of it. Other members, please feel free to chime in if I got something wrong.

 

[Ruturaj]

To US buyers there is a Florida dealer claiming up to $6,500 in savings for a GT2 Stinger 2019. If your in the area or looking to buy one you may want to call these people nd ask them to fax you a quote and the present that to the dealership in your area to negotiate the price. When I purchase my car I didn't saw any deals.

check out go to friendlykia.com for reference.

For 2019? Is there a link?

Edit: looked at their website, it's 2018 and 6500 offer includes all rebates and incentives. Plus they 900 dealer fee.

 

[BrandonH]

Tricity Kia in NC

Dang l, I hope I didn’t just buy your car. I found them all on my own after emailing like 10 dealerships for prices the last few days and they had the best price by far with no haggling and their doc fees were less than any other dealer I contacted. I fully intended to buy the black premium they had that didn’t have the driver assist package but ended up buying the blue premium with the driver assist package instead. I’d have to look at the paperwork to know the exact amount but I know it was more than 10% off of msrp and I had no trouble doing a lease. They do have the silver one left though with the driver assist package. I have to say for about the same price the red GT they was mighty tempting but I wanted the other premium additions as well. The sales manager said they lost 1000 on my sale, so I asked him how they make money and he said it was all about hitting their monthly goal every month. I guess that’s how they really make their money and in the end they don’t lose anything selling them that low if they hit their targets.

 

[Ruturaj]

Ok so one day Joe walk into a Kia dealership and met Billy Bob
Billy Bob: Waassssuuuppp man - you want a stinga? I got a deal for you that you can't refuse
Joe: Yeah man, you read my mind. I heard you got dis killer sale going on plus some crazy mucho loco lease cash rebate... wassup with that? is that a finger discount or some S#!T. Do I need to go around the back to make this deal?

Ok.... I'm kidding, but here's a short version of it from how I understood it.

1. If you want to see what the current offers there are for the stinger, one good source will be autobytel.com
2. Right now the lease cash rebate is 7900 + 1000 manufacturer rebate (I heard this is only on the east coast as some states don't offer this)

So how this works very short version.... there is a sticky on this forum explains it in more detail so I suggest you read up on that and learn all the terminology and how things are calculated.

1. Negotiate the selling price of the car. Nobody wants to buy at MSRP so why should you? This should be before incentives and rebates, before any taxes/fees.
2. You can let them know you want to lease the car in order to take advantage of the lease cash + rebate - it's not a trade secret, so you don't need to go around the back
3. Work the numbers to get the final cost of the car (i.e. tax 4.15%, acquisition fee 650, doc fees 700-800 in VA) if you have trade-in, negotiate it separately. Check KBB and NADA sites to see what your trade-in value.
4. Once you agree on the final price of the car - you'll need to pay up your first month's rent which includes interest on the car (first month's lease is usually paid up front).
5. Wait about a week for your paper work to show up on KIA Motor Finance (KMF) then request for the buyout amount of the car + a 300 buyout fee. This would be the remaining value of the car (ex. if the total selling price is 40k and lets say you paid about 20k with trade in including first months rent, the rough estimate of your remaining value will be around 20k) so you pay the remaining 20k + 300 buyout fee.... once that's paid, you now own the car... hurray!

So do most people go this route? 7900 lease cash vs. 2000 cash bonus, I think you'll know why. Ok. So what's the catch.... you don't really get all of the 7900 rebate because you paid interest on the car each month you make a lease payment - this is why the sooner you buy out the lease, the more money you save. If you let your lease mature, KIA gets all that rebate back from interest + could potentially cost you more than the MSRP if you decide to buy the car when the lease is up so DON'T DO THAT! Also, there's the buyout fee that you have to pay, but the savings is still a lot. If you can't write a check for the remaining value of the car, you can set one up a new car loan with your bank to pay the remaining balance, then you're back to regular financing on the car for a lower interest rate.

I think that's pretty much the gist of it. Other members, please feel free to chime in if I got something wrong.

Great wrireup. One thing I would like to add is balloon financing if available will be better for buyout than lease.

 

[Shaselai]

Ok so one day Joe walk into a Kia dealership and met Billy Bob
Billy Bob: Waassssuuuppp man - you want a stinga? I got a deal for you that you can't refuse
Joe: Yeah man, you read my mind. I heard you got dis killer sale going on plus some crazy mucho loco lease cash rebate... wassup with that? is that a finger discount or some S#!T. Do I need to go around the back to make this deal?

Ok.... I'm kidding, but here's a short version of it from how I understood it.

1. If you want to see what the current offers there are for the stinger, one good source will be autobytel.com
2. Right now the lease cash rebate is 7900 + 1000 manufacturer rebate (I heard this is only on the east coast as some states don't offer this)

So how this works very short version.... there is a sticky on this forum explains it in more detail so I suggest you read up on that and learn all the terminology and how things are calculated.

1. Negotiate the selling price of the car. Nobody wants to buy at MSRP so why should you? This should be before incentives and rebates, before any taxes/fees.
2. You can let them know you want to lease the car in order to take advantage of the lease cash + rebate - it's not a trade secret, so you don't need to go around the back
3. Work the numbers to get the final cost of the car (i.e. tax 4.15%, acquisition fee 650, doc fees 700-800 in VA) if you have trade-in, negotiate it separately. Check KBB and NADA sites to see what your trade-in value.
4. Once you agree on the final price of the car - you'll need to pay up your first month's rent which includes interest on the car (first month's lease is usually paid up front).
5. Wait about a week for your paper work to show up on KIA Motor Finance (KMF) then request for the buyout amount of the car + a 300 buyout fee. This would be the remaining value of the car (ex. if the total selling price is 40k and lets say you paid about 20k with trade in including first months rent, the rough estimate of your remaining value will be around 20k) so you pay the remaining 20k + 300 buyout fee.... once that's paid, you now own the car... hurray!

So do most people go this route? 7900 lease cash vs. 2000 cash bonus, I think you'll know why. Ok. So what's the catch.... you don't really get all of the 7900 rebate because you paid interest on the car each month you make a lease payment - this is why the sooner you buy out the lease, the more money you save. If you let your lease mature, KIA gets all that rebate back from interest + could potentially cost you more than the MSRP if you decide to buy the car when the lease is up so DON'T DO THAT! Also, there's the buyout fee that you have to pay, but the savings is still a lot. If you can't write a check for the remaining value of the car, you can set one up a new car loan with your bank to pay the remaining balance, then you're back to regular financing on the car for a lower interest rate.

I think that's pretty much the gist of it. Other members, please feel free to chime in if I got something wrong.

Wow thats really nice. Will definitely check it out. I am in a good time actually... I have an Audi A5 deal that might fall through because the dealer i got the decent offer from wouldnt share the quote in writing (they did agree in email) so other dealers would not trust me (i guess smart move by dealer eh?). The deal is still decent but i gonna try to milk them a bit more.

If that falls through i think this lease deal would be pretty awesome! Potentially getting a GT2 at low 40s (luckily there are many Kia places to shop here...) which is awesome AND i "save" 12k from my A5 deal (if it falls through).

 

[Joseph Spiegel]

But where is this lease cash? i dont see it advertised? And how come you didnt ask for 13%? isnt 10% easy to ask? Did you bargain any extras? And did you mention you want to lease first?

And i thought once you pay off lease you return the car??? i am confused...

You’re not paying off the lease, you’re buying out all the remaining value. I did it in May. The cash back was 6200 then. I used Costco for a predetermined discount, total with the lease cash was 9100 off the MSRP of 50,150. Then tax and all the rest. After this payment I’m buying out. The dealer asked for three payments so they don’t get dinked on the rebate. Is that real? No skin off me so I did it that way.

 

[Shaselai]

You’re not paying off the lease, you’re buying out all the remaining value. I did it in May. The cash back was 6200 then. I used Costco for a predetermined discount, total with the lease cash was 9100 off the MSRP of 50,150. Then tax and all the rest. After this payment I’m buying out. The dealer asked for three payments so they don’t get dinked on the rebate. Is that real? No skin off me so I did it that way.

great. Definitely gonna do it if my other deal dont work out... i am actually inclined to just do it.... Unfortunately the only silver one out there near me has only remote starter but not the puddle lights.

BTW, did you ask any freebies? like free window tinting or those hamsters?

 

[Indy499]

You’re not paying off the lease, you’re buying out all the remaining value. I did it in May. The cash back was 6200 then. I used Costco for a predetermined discount, total with the lease cash was 9100 off the MSRP of 50,150. Then tax and all the rest. After this payment I’m buying out. The dealer asked for three payments so they don’t get dinked on the rebate. Is that real? No skin off me so I did it that way.

If you buy the lease out within 90 days, the dealer doesn't get their reserve kickback from KMF ($150 I think). But since you're paying @$150/mo in rent charge (depending of course on your cap cost), you're better off just paying the dealer the extra $150 and buying out right away. Or just don't tell them you're gonna buy out right away.

 

[Joseph Spiegel]

great. Definitely gonna do it if my other deal dont work out... i am actually inclined to just do it.... Unfortunately the only silver one out there near me has only remote starter but not the puddle lights.

BTW, did you ask any freebies? like free window tinting or those hamsters?

I think I got a firm hand shake. LOL, Actually my dealer stuck on those numeric stickers all over the car for theft ID. They’re on but I wasn’t charged. It was negotiated out for not having the red/red I wanted. I was happy with 9100 off sticker and being able to cash in on my CarMax offer on my old car.

 

[BrandonH]

Here are the important details of my Tri-City Kia Lease deal I made last night in Eden NC:
Micro Blue 2.0 Premium with Driver assist package
MSRP 40,000
Dealer Discount before rebates: 4,480
Price before rebates, fees and taxes 35,520 or 11.2% off sticker.
Dealer doc fee was an additional 349 which is half the cost some of our other local dealers charge
Price with doc fee before rebates and taxes was 35,869 which if you include that for those folks with states that don't allow that is still 10.3% off of MSRP
No trade

I think I did great.

 

[Greeneguy]

St. Louis County, MO
GT AWD Snow White Pearl
Advanced Driver Assistance System Pkg.
Puddle Lights
Remote Start
MSRP: $44,185
Negotiated: $39,139
$5800 Lease Rebate
Dealer paid first payment
Final Cost: $34,189

Love this car!!

 

[Shaselai]

I looked at the kia stinger sales... its selling pretty slowly 1kish per month.

How much would i be missing out on features if i take a premium over gt2? It seems gt2 has mostly performance features and nicer seats?

 

[Stinger305]

I looked at the kia stinger sales... its selling pretty slowly 1kish per month.

How much would i be missing out on features if i take a premium over gt2? It seems gt2 has mostly performance features and nicer seats?

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Click the COMPARE TRIMS button and it spells it out for you.

If you're looking to save a few bucks, I would go with a Premium or GT1 over a GT2. I think the 2s are a bit overpriced mainly for the leather upgrade, but there are perks. It just depends if you want them or not.

That said, if you're going for a 2019 version, the GT2s are the only trim with the 360 camera.

 

[Smitty16s]

So I decided to get in touch with a dealer, and he quoted me this:
"Jonathon,

For GT2 Stinger with rear wheel drive, our stock #K6662. Red exterior and interior.

With Costco pricing discount of $3,812.00 Plus $7600.00 rebate and $400.00 military discount.

For a 3 year lease with 10,000 miles/year 0 down would be $681.00/month. $2000.00 down would be $618.00/month.

Please let me know what time you can come in on Monday."


The payments seem really high to me? Thats almost finance range, not lease? Am I crazy here?

 

[Joseph Spiegel]

So I decided to get in touch with a dealer, and he quoted me this:
"Jonathon,

For GT2 Stinger with rear wheel drive, our stock #K6662. Red exterior and interior.

With Costco pricing discount of $3,812.00 Plus $7600.00 rebate and $400.00 military discount.

For a 3 year lease with 10,000 miles/year 0 down would be $681.00/month. $2000.00 down would be $618.00/month.

Please let me know what time you can come in on Monday."


The payments seem really high to me? Thats almost finance range, not lease? Am I crazy here?

That’s a GT2 for 38,288. That’s 4K under mine. That’s a koo koo price, I believe. Are you buying or really leasing?
This isn’t a great lease car as the depreciation isn’t a sure thing like a BMW. They’re protecting themselves.
As a lease to buy out, it’s amazing.

 

[Smitty16s]

That’s a GT2 for 38,288. That’s 4K under mine. That’s a koo koo price, I believe. Are you buying or really leasing?
This isn’t a great lease car as the depreciation isn’t a sure thing like a BMW. They’re protecting themselves.
As a lease to buy out, it’s amazing.

My plan was to buy out, that just seemed like a really high lease payment on a 38k car.

 

[Joseph Spiegel]

My plan was to buy out, that just seemed like a really high lease payment on a 38k car.

I’m done making payments I’m buying this month. I did it as a courtesy to my dealer who was nice to me. I put 15k down so yes, my payments are low. LOL. I’m not a leasing person, first time, it looks like you’re paying for half the car in that lease. So, OK there’s that. But the buy price is $38k for a GT2. Wow! And the colors I wanted, jealously!

 

[Indy499]

So I decided to get in touch with a dealer, and he quoted me this:
"Jonathon,

For GT2 Stinger with rear wheel drive, our stock #K6662. Red exterior and interior.

With Costco pricing discount of $3,812.00 Plus $7600.00 rebate and $400.00 military discount.

For a 3 year lease with 10,000 miles/year 0 down would be $681.00/month. $2000.00 down would be $618.00/month.

Please let me know what time you can come in on Monday."


The payments seem really high to me? Thats almost finance range, not lease? Am I crazy here?

That payment is quite high for that price. Make him give you a full breakdown, the are probably some dealer fees in there and possibly a marked up money factor (which doesn't really matter if you're buying the lease out).

Are you in a state where all taxes are charged up front on a lease? That could also be the reason for the high payment.

 

[Smitty16s]

I’m in Florida. I’ve actually never leased a vehicle before. So this is all new to me.

 

[Paul32]

I’m in Florida. I’ve actually never leased a vehicle before. So this is all new to me.

Where in Florida, I'm in Flagler Beach.