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Lease Buyout - How to get the best deal on a Kia Stinger!

Messages
44
Likes
6
State
IL
Country
United States
#41
I pulled the Trigger, GT2 Ceramic Grey, with Red interior. MSRP was 51,480 with Freight and Handling.

Gross capitalized cost was $45,399
License and Registration Fees $906.60
Dealer Documentation Service fee? $498.00
Acquisition Fee $650.00
Extended Bumper to Bumper 100k $597.00

Total $48,050.60
Less Lease cash $6,200.00
Less Trade $4,450.00

Total $ 37,400.60

I'd say that seems like a pretty good deal on a GT2 Stinger. Not sure about all the add on fees are those legit? A little higher than what I was wanting but I definitely upgraded. I don't know half of what this car does now I need to read all the manuals. Car had 58 miles on it. Now I just need to figure on what the buyout price is once it is updated in KMF.

Do they email you when it is loaded up or do you need to sign up?
Not sure how AZ taxes work - but the buyout should be right around that $37,400 + some kind of tax on value of the acquired car (37400.60) + fees. In IL, the taxes on leased cars are paid based on the monthly lease rate (sales tax where car is registered x lease payment). When buying out the lease, you would pay tax on the value of the asset being acquired (aka what do you owe on the car). They get your money one way or the other.
 
Messages
85
Likes
24
State
AZ
Country
United States
What I Drive
2019 Kia Stinger GT2
#42
Not sure how AZ taxes work - but the buyout should be right around that $37,400 + some kind of tax on value of the acquired car (37400.60) + fees. In IL, the taxes on leased cars are paid based on the monthly lease rate (sales tax where car is registered x lease payment). When buying out the lease, you would pay tax on the value of the asset being acquired (aka what do you owe on the car). They get your money one way or the other.
It should work the same way here AZ, its not funky like Texas or anything so it should be straight forward I think. I assume when I request the buyout quote it should have the state tax then added for the remaining amount as the state tax is added into the lease payment as you pay, so hopefully I can get it done before payment is due but if I have to make one payment its not too bad on the interest.

Not sure how long it takes to get the info into Kia Finance in order to request, I'll have to check out a few forums. I imagine it can take at least a week to a few to get put in.


Just went online and it says my VIN number is invalid so I knew it wouldn't be that quick but you never know, they had me sign a bunch of stuff on a I PAD until they tried to add in some type of maintenance thing I didn't want so the guy didn't know how to remove it so he just printed up a contract and I signed it the old fashion way so I'm assuming they will have to mail that into them then or scan it or something.

I'll post what the final buyout is once it is up.
 
Last edited:

mzones

New Member
Messages
22
Likes
4
State
CA
Country
United States
What I Drive
1999 Lexus GS 400
#43
Hey folks I can use some help here. I’m trying to buy a car, and I’ve been down the road with a couple dealers and I don’t think I’m getting a straight story.

I’d prefer to buy a car all cash, but from what I’ve seen and read here it is better to lease and then buy out the lease.

Now, I’m my mind, if I say “out the door” or “all in” I mean with sales tax, licensing Reg fees, you know....EVERYTHING.

So here are the numbers with the latest dealer:
2019 GT1 with an msrp of $46,705. Dealer discount of 1,705 and a lease rebate of $5,700.00 yields a net price of $39,300.00.
Dealer keeps telling me my “out the door” price is $41,885. And I would be ok with this number if it meant what I think it should mean. But here in Los Angeles (yeah, I know) sales tax alone is 9.5% and registration for a car if this price has to be over $400.00, so there is no way I will be all in to this car for the $41,885. I get the feeling that in addition to this number, I will be paying more sales tax when I go to buy the car and it actually transfers title.

Now, I sell commercial real estate for a living, and our credo is “disclose, disclose, disclose.”

I’m thinking this may not be the case in car sales/leasing. I would be most appreciative if you can shed some light on this.

Thanks
 
Messages
85
Likes
24
State
AZ
Country
United States
What I Drive
2019 Kia Stinger GT2
#44
I just got my Lease buyout quote which includes the tax in AZ, I think it is around 7.8% here but maybe you can see by my numbers and get an idea. I will tell you that when you go into financing they will try to add alot onto the price so you need to be firm and only take what you want/ can afford as it will increase the price.

So I got a 2019 RWD GT2 negotiated from dealer down to $45,399.00 I did the 36 month Lease with a KMF Discount of $6,200 which brought the price down to $39,199 I also had a trade of $4,450 so the price was $34,749.

Finance add ons:

Sales use tax on capitalized cost reduction : $3.58
License title and registrations fee: $906.60
Dealer documentation/ Service Fee: $498.00
Extended Bumper to Bumper 5yr 100k: $597.00
Acquisition Fee: $650.00

Price $37,404.18

I paid $450.33 at dealership to take delivery first month Lease payment. $36,953.85 then with sales tax add about $2,882.40 so payoff would be $ 39836.25 by my calculations

The buyout I received from Kia for the Lease buyout to purchase the car came to $39,973.15 interest calculated out to 2/1/2019. So if I were to add the $450 I paid at dealership the actual out the door price would be about $40,423.48 for a 2019 GT2. If you take out my trade just add the $4,450 for $44,873.48. MSRP of the car listed was $51,480.00 So about 12.8% off the sticker price out the door.

That includes the tax and everything and since I'm keeping my same plates for my trade I should get a refund back for the tags I paid through 2020 on my other car so that will come separately. So I think when you are negotiating with the dealer you need to factor in the additional costs.

Hope that helps I was meaning to post my final numbers after I got the lease buyout quote. I purchased on 12/30/18 and it was loaded into the Kia website 1/10/19.

But if the new January Kia incentives are correct you can go for a 24 month Lease and take more cash for the lease then buyout. The lease incentives would be the best way to reduce the price further after negotiating the price on the car.
 

mzones

New Member
Messages
22
Likes
4
State
CA
Country
United States
What I Drive
1999 Lexus GS 400
#45
MMB, thanks for the input. My understanding is that the cash back financing is a taxable event, so I guess that component needs to be accounted for. I'd prefer to get the dealer to come off their price rather than the cash back, but I suppose it is the manufacturer paying the financing rebate, not the dealer.
 
Messages
85
Likes
24
State
AZ
Country
United States
What I Drive
2019 Kia Stinger GT2
#46
MMB, thanks for the input. My understanding is that the cash back financing is a taxable event, so I guess that component needs to be accounted for. I'd prefer to get the dealer to come off their price rather than the cash back, but I suppose it is the manufacturer paying the financing rebate, not the dealer.

Just looking at the prices my GT2 Price is similar to the ending price you are at for a GT1 so I think you could try to get the 45K they are offering on the GT1 closer to 42-43 then apply the lease cash. I would think you have some room to go on the GT1 off the MSRP, the lease cash is provided by Kia so the dealer shouldn't Be concerned with the lease cash.

But I would definitely hit lower off the MSRP since I think there is room there but it depends on how much the dealer is willing to negotiate.

Good Luck!
 
Messages
85
Likes
24
State
AZ
Country
United States
What I Drive
2019 Kia Stinger GT2
#47
Update: so Yesterday 1/23/19 Kia Finance posted my buyout check on their website. If I request a buyout quote it shows $0 due now. So I imagine then they will send the title to me after processing the paperwork further. Not sure the time frame but I bought the car on 12/30/18 so I'm really trying to just chronicle the time it takes for the entire process for the lease buyout. On a side note I still have not received my Plate tags for my existing plate I've opted to keep from my trade but that is more an AZ thing I think. Temporary plate is good until 2/13/19 so not too worried yet. Just would love to take off the temporary tag and get rid of the dealer branded plate they have on there.
 

MurlinatoR

1000 Posts Achieved
Staff Member
Messages
1,231
Likes
302
State
IA
Country
United States
What I Drive
Lot's of Kia's
#48
[MENTION=1495]MMB22[/MENTION], did you send them payment or did you refinance and have a bank send them payment? They will release it to whoever paid the car off.

Also, it's very important to send them an odometer disclosure statement at the time of payoff. If you haven't yet, do that tomorrow. You can download a copy from the kmfusa.com website. They will NOT release the title without an odo statement.
 
Messages
85
Likes
24
State
AZ
Country
United States
What I Drive
2019 Kia Stinger GT2
#49
[MENTION=1495]MMB22[/MENTION], did you send them payment or did you refinance and have a bank send them payment? They will release it to whoever paid the car off.

Also, it's very important to send them an odometer disclosure statement at the time of payoff. If you haven't yet, do that tomorrow. You can download a copy from the kmfusa.com website. They will NOT release the title without an odo statement.


Hi I paid Cash through a Bank Check and followed the buyout instructions and sent the Odometer statement to them with the check. So I know they got it since they applied the check. So not sure the lead time on the release but as long as I don't need to make the 2/1 payment on the lease I'm happy with that. It looks like they show that payment being satisfied with the big check. I'm not sure if I get the interest back from when I sent the payoff even though it is probably a small amount.
 
Messages
48
Likes
4
State
AK
Country
United States
#50
I leased an 18 premium 2 weeks ago. MSRP of 40,460. My account was registered a couple days ago and lease buyout shows $28,843.69. I think I got a pretty good deal there. 0 down. No trade. I plan to send the payoff next week. Thanks for the heads up on the odometer reading


Sent from my iPhone using Tapatalk
 
Messages
85
Likes
24
State
AZ
Country
United States
What I Drive
2019 Kia Stinger GT2
#51
I leased an 18 premium 2 weeks ago. MSRP of 40,460. My account was registered a couple days ago and lease buyout shows $28,843.69. I think I got a pretty good deal there. 0 down. No trade. I plan to send the payoff next week. Thanks for the heads up on the odometer reading


Sent from my iPhone using Tapatalk
Congratulations!!! How much did you negotiate off the price and what was the lease cash they applied? With no Trade that is a great price!
 
Messages
48
Likes
4
State
AK
Country
United States
#52
Congratulations!!! How much did you negotiate off the price and what was the lease cash they applied? With no Trade that is a great price!
Thanks! I love the car so far! Lease cash was $7000. dealer discount was $6060. Sale price after lease cash was 27400.


Sent from my iPhone using Tapatalk
 
Messages
85
Likes
24
State
AZ
Country
United States
What I Drive
2019 Kia Stinger GT2
#53
Thanks! I love the car so far! Lease cash was $7000. dealer discount was $6060. Sale price after lease cash was 27400.


Sent from my iPhone using Tapatalk
Yeah that's a great deal! I didn't know they would go that low off of the Premium that rocks!
 

AJS

New Member
Messages
2
Likes
0
State
NY
Country
United States
#54
Has anyone done the lease buyout method in NY State? Any reason why this wouldn't work in NY?

Thanks
 
Messages
30
Likes
1
State
SC
Country
United States
What I Drive
2015 Mustang GT
#55
When I go to the kmfusa website and click to get my buyout quote, it then tells me to contact my dealer? 1st payment due in9 days. Did the 24 month lease and took the lease cash. Will post my deal once I have confirmed my buyout. Anyone else had to contact the dealer for their buyout?
 

Ls1ashley

New Member
Messages
3
Likes
0
State
TX
Country
United States
What I Drive
‘17 Corvette
#56
For people doing this:
1). I live in TX, anything weird I should know about?
2). Why doesn’t everyone take a 24 month lease? I think the cash incentive is better for 24 vs 36.... no?
 
Messages
48
Likes
4
State
AK
Country
United States
#57
For people doing this:
1). I live in TX, anything weird I should know about?
2). Why doesn’t everyone take a 24 month lease? I think the cash incentive is better for 24 vs 36.... no?
A 24 wasn’t available when I did mine. That’s what they told me anyways. Also, the residual on a 24 is higher so depending on the deal, the numbers could work out differently.


Sent from my iPhone using Tapatalk
 

paikche

New Member
Messages
1
Likes
0
State
MO
Country
United States
What I Drive
2018 GT2
#58
Hey guys,

Just recently leased a 2018 GT2 with plans on doing a lease buyout.
It's been 1 month since I signed the paperwork yet my online account is not set up yet.
I called the finance person at my dealership and they mentioned that there is a backlog on KIA thus my paperwork is in line to get processed.
They asked that I pay the first lease monthly payment via phone.
Is this a normal occurrence with Kia? Never had this issue before in my other car purchases/leases.
Any input is greatly appreciated! Much thanks in advance!
 
Messages
48
Likes
4
State
AK
Country
United States
#59
My account was up 2 weeks after signing. I paid that week and it took 2 months to get the title.


Sent from my iPhone using Tapatalk
 
Messages
14
Likes
0
State
WI
Country
United States
What I Drive
2014 Ford Mustang
#60
Help somebody with a small brain understand this... am I correct in thinking that unless one has the cash on hand to immediately fully buyout the car using the lease / buyout discount "trick" it would be dumb to finance the buyout immediately rather than pay the lower monthly lease payment, save the "extra" cash, NOT pay interest on borrowed money (because there isn't any), and then use the saved cash to put down on the buyout and THEN finance the remaining lower balance when the lease is up?
 


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