Is leasing the secret to paying the lowest price for a Stinger?

[yesitsakia]

First off thank you [MENTION=291]MurlinatoR[/MENTION] for posting this info sheet.

I'm in the market for a Stinger and want to make sure I get the best deal. Can someone shed some light on how I can take advantage of the lease cash deals to get the lowest price on a new Stinger purchase? Keep in mind my goal is to eventually finance this vehicle through a credit union.

 

[GDI Guy]

If there's a loophole I'd like to know too for future purchases.

 

[MurlinatoR]

First off thank you [MENTION=291]MurlinatoR[/MENTION] for posting this info sheet.

I'm in the market for a Stinger and want to make sure I get the best deal. Can someone shed some light on how I can take advantage of the lease cash deals to get the lowest price on a new Stinger purchase? Keep in mind my goal is to eventually finance this vehicle through a credit union.

Simple answer is YES, you can.

We actually have quite a few threads talking about this very thing!

If love to help either of you on your perfect Stinger purchase!

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[yesitsakia]

Hi MurlinatoR

Can you explain in layman's terms how this is done. It is possible to negotiate the lowest prices on the car then apply lease cash back?

For instance can I sign up for a lease then and get a loan through the credit union and buyout the lease? If I can what kind of penalties do I incur for buying out the lease early?

 

[snowman]

Simple answer is YES, you can.

We actually have quite a few threads talking about this very thing!

If love to help either of you on your perfect Stinger purchase!

Sent from my SM-G930R4 using Tapatalk

Can you tell me where to look? I already purchased a Stinger but still would like to read up on this too.

 

[ghedoicy]

First off thank you [MENTION=291]MurlinatoR[/MENTION] for posting this info sheet.

I'm in the market for a Stinger and want to make sure I get the best deal. Can someone shed some light on how I can take advantage of the lease cash deals to get the lowest price on a new Stinger purchase? Keep in mind my goal is to eventually finance this vehicle through a credit union.

It's a bit tricky if you are trying to finance the whole thing... The simple break down is this...

You lease it for your negotiated price less any current lease incentives. Lets say for the sake of simple math you end up with a monthly lease payment of $600. You'll most likely pay your first month upfront plus any fees. You'll also know what the purchase price of the car is going to be when the lease is up. Let's again make up a number of $25k.

The above leaves you with 35 monthly payments of $600 to satisfy the lease. That would be $21,000 including the tax and interest. If you made that payment on day 1 you would save all the interest on it... Something close to $2200. It's hard for me to get exact as it is calculated based on an amortization. I'm using 5% since that's about what the MF is on a RWD GT2.

You then can turn in the keys in 35 months or choose to buy it now. The hard part is explaining this to a bank in the case you are trying to finance it all. Most people who do a one pay lease are paying cash. You have to be able to finance the $18,800 plus the $25k to buy the vehicle at lease end. So a total loan of $43,800 in my example.

You keep the current lease incentive plus save on the interest.

Make sense?

-Matt

 

[yesitsakia]

That makes prefect sense and thanks for the thorough response, really appreciate it.

 

[MurlinatoR]

It's a bit tricky if you are trying to finance the whole thing... The simple break down is this...

You lease it for your negotiated price less any current lease incentives. Lets say for the sake of simple math you end up with a monthly lease payment of $600. You'll most likely pay your first month upfront plus any fees. You'll also know what the purchase price of the car is going to be when the lease is up. Let's again make up a number of $25k.

The above leaves you with 35 monthly payments of $600 to satisfy the lease. That would be $21,000 including the tax and interest. If you made that payment on day 1 you would save all the interest on it... Something close to $2200. It's hard for me to get exact as it is calculated based on an amortization. I'm using 5% since that's about what the MF is on a RWD GT2.

You then can turn in the keys in 35 months or choose to buy it now. The hard part is explaining this to a bank in the case you are trying to finance it all. Most people who do a one pay lease are paying cash. You have to be able to finance the $18,800 plus the $25k to buy the vehicle at lease end. So a total loan of $43,800 in my example.

You keep the current lease incentive plus save on the interest.

Make sense?

-Matt

It is important for you to know that if you simply pay the total of your lease payments, you will pay the interest. That is fulfilling the lease contract and the lease contract has interest built into it.

If you want to avoid interest, you have to buy the lease out completely as soon as possible. Every payment you make is monthly interest you lose.

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[ghedoicy]

Apparently KMF has a buyout number they will give you that does not require "two" loans.

-Matt

 

[bb123]

Hello all
My first post, here we go. I'm looking at a 2018 base 2.0 stinger micro blue and black with drive wise and was offered 20% off msrp, "We can get you a Base AWD blue with black interior. MSRP $37,000 Selling price $29,600 plus tax, title, license." I think they are saying lease / ballon. Is this a good deal

 

[MurlinatoR]

It's a decent deal.

 

[bb123]

Thanks MurlinatoR what could I do better.

 

[MurlinatoR]

Thanks MurlinatoR what could I do better.

Go get it!!!!! LOL

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