Kia Stinger Out The Door Price Thread

[MikeStevens]

OK guys, thanks to your awesome forum, I think I can calculate a decent lease.

I want the GT with Drive Wise package in Panthera Metal which is extremely hard to find.
I found one about 400 miles away from me.
Stock # :11575 VIN: KNAE35LC1J6026800

TrueCar shows I could probably get it at 10% of MSRP but I used $39,000 for my calculations. The lease I want is 36months / 12k year/ all tax-fees-damage waiver included
Here are the numbers I ran. Did I do it correctly?

Purchase Price 39,000
Title/License/Fees 300
Money Factor .00228
Residual 51% (12k miles)
Tax 6%

Gross Cap: 41,990 (39,000 + 2,340 tax + 650 acquisition fee)

Adj Cap: 35,190 (41,990 ? 5,800 lease cash & 1000 awdrebate)

Residual Value: 22,195.50 (43,450 msrp x .51)

Depreciation: 12,994.50 (35,190 ? 22,195.50)

Base Payment: 360.83 (11,496 / 36)

Rent Charge: 130.95 (35,190 adj cap + residual 22,159.50 x .00228)

Monthly Payment: $491.80

With damage waiver: $506.37 (500/36)

 

[freefloyd]

OK guys, thanks to your awesome forum, I think I can calculate a decent lease.

I want the GT with Drive Wise package in Panthera Metal which is extremely hard to find.
I found one about 400 miles away from me.
Stock # :11575 VIN: KNAE35LC1J6026800

TrueCar shows I could probably get it at 10% of MSRP but I used $39,000 for my calculations. The lease I want is 36months / 12k year/ all tax-fees-damage waiver included
Here are the numbers I ran. Did I do it correctly?

Purchase Price 39,000
Title/License/Fees 300
Money Factor .00228
Residual 51% (12k miles)
Tax 6%

Gross Cap: 41,990 (39,000 + 2,340 tax + 650 acquisition fee)

Adj Cap: 35,190 (41,990 ? 5,800 lease cash & 1000 awdrebate)

Residual Value: 22,195.50 (43,450 msrp x .51)

Depreciation: 12,994.50 (35,190 ? 22,195.50)

Base Payment: 360.83 (11,496 / 36)

Rent Charge: 130.95 (35,190 adj cap + residual 22,159.50 x .00228)

Monthly Payment: $491.80

With damage waiver: $506.37 (500/36)

Have you compared pricing using Costco Auto Program?

 

[MikeStevens]

No, would you please send me the link?
also is rent charge .0028 or 0029 for 12k 36 months

 

[freefloyd]

No, would you please send me the link?
also is rent charge .0028 or 0029 for 12k 36 months

Go here Mike.
https://www.costcoauto.com/

 

[MikeStevens]

Thanks!

 

[tbalonick]

Alright guys, Ive spent the last week going around and getting offers and here's my best one yet. Would I be a fool not to jump on this? This is for a new Stinger GT with the Drivewise Pack + LSD and if I recall properly is pre tax/title/lic/doc fees.



Also are the aforementioned fees taken based on the vehicle price after rebates?

 

[MikeStevens]

That is a crazy price!
I am looking at the same car.
The only thing that does not makes sense is that MSRP on the car is $43, 450
your guy is showing it as $41,650

 

[MarkyMark]

That is a crazy price!
I am looking at the same car.
The only thing that does not makes sense is that MSRP on the car is $43, 450
your guy is showing it as $41,650

I am ALSO looking for a GT w/Drivewise and maybe LSD if available. That's typically around $41,450 or so (depending on cargo net, remote start added, etc...).

The dealer probably had their own markup?

The Kia rebate is $2,000 if using their captive financing. The ONLY way I can see this being the case in a purchase price is if a dealer is throwing this to you as a "hook" and they will then say, "Oh, this is for a lease, not a purchase. We figured you were leasing." In which case, the lease cash is $5,400. Even still, that would be a great deal on a lease cash, dicker, then buy it out, price!

 

[tbalonick]

That is the costco price + lease incentive but still it's not bad as I was intending to buy it out. Very tempting. It would still be right around 37k out the door which makes it a slightly mixed bag for me.

To buy now or to wait 3-4 months when they really want to get rid of their inventory.

 

[MarkyMark]

That is the costco price + lease incentive but still it's not bad as I was intending to buy it out. Very tempting. It would still be right around 37k out the door which makes it a slightly mixed bag for me.

To buy now or to wait 3-4 months when they really want to get rid of their inventory.

Great info! Thank you! I am waiting (and saving!), for a few more months. September/October is my timeline...

 

[MikeStevens]

OK, tomorrow I am going to my dealer with the following offer:

• GT AWD / Drive Assist
• 36months / 12K miles
• Purchase price $39k (10% off MSRP)
• Acquisition Fee/ Doc Fees/ DMV /Tax included (tax 6% on purchase price)
• $6800 in Rebates ($5800 lease cash /$1000 AWD)
• Money Factor: .00229
• Residual 52%

$534 Sign & Drive
I'll let you know how it goes.

 

[MarkyMark]

OK, tomorrow I am going to my dealer with the following offer:

• GT AWD / Drive Assist
• 36months / 12K miles
• Purchase price $39k (10% off MSRP)
• Acquisition Fee/ Doc Fees/ DMV /Tax included (tax 6% on purchase price)
• $6800 in Rebates ($5800 lease cash /$1000 AWD)
• Money Factor: .00229
• Residual 52%

$534 Sign & Drive
I'll let you know how it goes.

Good luck Mike! I plan on nailing it all down via Costco or online (emails) with a dealer and get it all done, so it's all in writing and set. Worked like a charm last purchase so I'll continue the same "digital" direction of negotiating.

QUESTION: Where is there a $1k rebate on AWD options?! That's awesome, but I've seen it nowhere.

Thanks Steve

 

[MikeStevens]

go on the KIA site, built the GT with AWD
ON the upper right is the payment calculator
when you run the calculator switch it to lease.

 

[MarkyMark]

Wow, thanks!

 

[MikeStevens]

Hi All,

How likely is it that the August incentives will be better than July.

Right now GT AWD is $5800 Lease cash and $1000 AWD Bonus Cash.

52% Residual

.0029 Money Factor

 

[MarkyMark]

Hi All,

How likely is it that the August incentives will be better than July.

Right now GT AWD is $5800 Lease cash and $1000 AWD Bonus Cash.

52% Residual

.0029 Money Factor

Good question Mike. At the end of the day only KMF knows, but taking a stab at it, I'd guess 60/40 split they'll increase a bit more for August. Here is my rationale:

A. The Lease Cash is fairly aggressive right now, but it can always go higher as Kia will simply increase the Money Factor. Seems to be working so far, and I believe there has been an uptick in Stinger sales this month. Why not continue this trend to clear out inventory?

B. My understanding is Kia's yearly model changeover is October 1, and this is for ALL Kia models. Large, small or few to little changes to any given vehicle, it makes no difference. Come October 1st, all models start arriving as 2019's. I've heard rumor that the Stinger will change later, but I have seen no evidence for this, nor any logic to that rumor. Thus, unless Kia makes some official announcement, I'd continuing running with the assumption October 1st will also be the Stinger model changeover. I suspect August will be at, or have ever so slightly higher incentives.

C. What kind of incentives? There are only so many people that lease, and those incentives are pretty strong, thus I can see Kia throwing in another $1k in purchasing incentives, as they've done almost nothing with putting more into people purchasing the Stinger. But with a strong economy and money coming easy to many, leasing is a tempting path and Kia is targeting BMW and Audi buyers as best they can... Many of those people lease, thus the aggressive lease programs for the Stinger, while purchasing seems an afterthought.

Lastly, taking a quick look at dealer inventory in the LA area (100 mile radius), Kia has a skewed mix of inventory on dealer floors:

GT: 63
GT1: 49
GT2: 147

Assuming LA is similar to the rest of the country (I know, quite a stretch ? ha!), GT2's are going to see the biggest incentives, GT's probably pulling second place and the GT1's likely not much in the way of change.

I'm looking for a GT, so here's to hoping Kia throws in a bit more to get me to bite in August!

SUMMARY:

? $3,000 rebate for purchasing (up from current $2k)
? GT2: $7,900 & $8,200 (RWD vs AWD)
? GT1: $6,700 (both RWD and AWD)
? GT: $5800, $6,000 (RWD and AWD)

Okay, any other takers? That's my best guess for August...

 

[MikeStevens]

Thanks for a very informative answer!

 

[Pieceofchum]

Hello,

I am about to purchase a Stinger GT2 AWD and I have two deals a lease buyout and a purchase. I cannot decide between the two these are the best deals I can get in this area and I have walked away many times to get to these numbers. I have two trades so I cannot buy from a great distance for both deals I get the trade value I want. To me it looks like the Lease Cash with Buyout is about a $1,800 savings here are the two deals can someone please verify I am doing the math correctly I think I got it all correct but if someone could take a quick look to verify.

 

[MurlinatoR]

First, why are the sales prices different for the lease and buy? That's $1,900 of your loss between the two options. The sales price is ALWAYS the sale for a purchase or a lease.

Second, the tax credit for your trade value is the other loss between the two options. Most states won't give trade credit for sales tax on a lease.

You're still saving more than a thousand dollars. You've fought for a few hundred dollars in your negotiation only to throw away money on the lease option.

Also, lease it for the finance sales price. That's the additional money you'll save.

Sent from my SM-G930R4 using Tapatalk

 

[Pieceofchum]

Thanks for the response MurlinatoR. In Mass they won't due anything lower than $49,000 for the lease. I have walked from three deals and called eight dealers a couple in Mass, RI and one in CT. This is the best deal I have gotten so far. I suppose I could wait and see if someone eventually will do a 47,200 price for the negotiated price of the vehicle for the lease but that hasn't happened yet. I figure I have 2 options here fight for more off the discount price for the lease or try to get more off the purchase price to make the difference less. I think there is one mistake in my calculations and that is I believe in Mass I would also pay tax on the lease cash which I didn't do in the spreadsheet if I did that then the difference between the two is $1317.18. Does it appear that my logic is ok though does the math look reasonably correct?