Kia Stinger Purchase/Lease Cheat Sheet - MFs & APRs

[ghedoicy]

This should help all of us out!

My issue is the calculated APR on a GT2 lease for a 700+ (really 800+) credit score is 4.344% (0.00181 x 2400). Not gonna cut it.




-Matt

 

[VegasStinger]

Great share, thanks.

 

[treker]

Thank you!

From what I've read, it looked like rates could vary somewhat by region.

 

[MurlinatoR]

You are 100% correct.

 

[mjsteelega]

Looks like Kia did not renew the lease cash offer on the GT. My car is still on a boat somewhere. Kinda PO'd that I'm now going to miss that offer because they couldn't get the color I wanted in time.

 

[MurlinatoR]

Looks like Kia did not renew the lease cash offer on the GT. My car is still on a boat somewhere. Kinda PO'd that I'm now going to miss that offer because they couldn't get the color I wanted in time.

Hey, you saw my post about the replacement program for January, right?

 

[mjsteelega]

I did. Thank you [MENTION=291]MurlinatoR[/MENTION]


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[English D]

it's been a while since I did f&I but don't forget you have the lease cash as well which alone is worth a ton of rate and a residual which is taken into consideration in the calculation you could also buy the rate down if it bothers you

 

[Rufus]

You are 100% correct.

Do you happen to know where/how I'd be able to determine the rates for the Pacific nw/Seattle area? My wife and I are heading to discuss with the salesman this Saturday and would love to have the correct info to work off of.

 

[MurlinatoR]

Do you happen to know where/how I'd be able to determine the rates for the Pacific nw/Seattle area? My wife and I are heading to discuss with the salesman this Saturday and would love to have the correct info to work off of.

What rates are you looking for?

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[KiaFan]

Do you happen to know where/how I'd be able to determine the rates for the Pacific nw/Seattle area? My wife and I are heading to discuss with the salesman this Saturday and would love to have the correct info to work off of.

I believe this is the current one, shared by [MENTION=291]MurlinatoR[/MENTION]

.....//cloud.tapatalk.com/s/5a4d4e3ca449c/012018 KMF Stinger (1).pdf

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[Rufus]

I believe this is the current one, shared by [MENTION=291]MurlinatoR[/MENTION]

Thanks so much! I've seen folks here talking about "buying out" their lease. Does this mean that once they've signed the with all lease cash, it's possible to buy the note outright for the net cap cost?

 

[MurlinatoR]

Thanks so much! I've seen folks here talking about "buying out" their lease. Does this mean that once they've signed the with all lease cash, it's possible to buy the note outright for the net cap cost?

Simply, yes. It's money that is taken off of your "lease portion" which is simply 100% of the MSRP minus your residual that is set by the factory. You then pay the residual plus taxes when you buy it out.

 

[Rufus]

Simply, yes. It's money that is taken off of your "lease portion" which is simply 100% of the MSRP minus your residual that is set by the factory. You then pay the residual plus taxes when you buy it out.

Wow! So hypothetically speaking, a base rwd stinger at $32,800 can be leased at 36mos w/ $4k at signing(the amt we we're thinking of putting down) and $5k lease cash, which would put the price of the car at $23,800. And then this means that assuming available financing i.e., a credit union new car loan, I'd be able to just buy the car outright from the leasing company for that $23,800, excluding taxes?? If that's correct, that would mos def be the way to go!!!

 

[MurlinatoR]

Wow! So hypothetically speaking, a base rwd stinger at $32,800 can be leased at 36mos w/ $4k at signing(the amt we we're thinking of putting down) and $5k lease cash, which would put the price of the car at $23,800. And then this means that assuming available financing i.e., a credit union new car loan, I'd be able to just buy the car outright from the leasing company for that $23,800, excluding taxes?? If that's correct, that would mos def be the way to go!!!

Effectively, yes. Now, there are more fees that are associated with financing and purchasing a vehicle and those all have to be added to your numbers as well.

 

[Rufus]

Effectively, yes. Now, there are more fees that are associated with financing and purchasing a vehicle and those all have to be added to your numbers as well.

You, sir, ROCK! Thanks so much for being such an upfront, standup guy--I'm sure the other members will agree! I'll be sure to post updates on which direction we decide to go. Thanks again!

 

[MurlinatoR]

You, sir, ROCK! Thanks so much for being such an upfront, standup guy--I'm sure the other members will agree! I'll be sure to post updates on which direction we decide to go. Thanks again!

Always [MENTION=464]Rufus[/MENTION]!

I will also throw into this that I'd LOVE to earn your business! I would be willing to work with you on your travel expenses! LOL

But seriously... will be the best car buying experience you've ever had.

 

[mjsteelega]

[MENTION=291]MurlinatoR[/MENTION]

Question if I may. My dealer is saying that I can NOT buyout the lease at any time. If I choose to buy the car I have to pay all the remaining lease payments. Which isn't making a whole lot of sense. If you run the #'s on a GT2 with the $6,500 KMF cash and a money factor of 0.00199, they are saying the lease payment is around $630/month (after $3k down payment at signing).

According to my math; 36 months x $630 = $22,680
Residual Value = $26,213
Down payment = $3,100
-------------------------------
Total cost $51,993 which is pretty close to the MSRP of the vehicle.

Are these leases set up to wipe out the $6,500 KMF cash??? Or am I missing something?

Thanks in advance for your help.

 

[mjsteelega]

The more I look into the #'s, the KMF cash is nothing more than a huge BAIT and SWITCH.

Oh look, we're offering $6,500 cash off the car, just sign our lease (which you CAN NOT TERMINATE EARLY) and you'll pay us back the KMF cash!

 

[mldavis2]

Early pay-off varies by state laws. I was told I can do that in Arkansas, but my car won't be in until March.