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

[jasonvt]

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?

Depends on your interest rate. The lease payment has ~$100/mo lease charge built into it. Basically the finance charge. So over a 36 month lease, you’re paying 3600 in finance charges. If you can get a refi rate that will charge less than that, that would be the way to go.


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[MMB22]

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.

Update: I finally received my title with a copy of the buyout from Hyundai Finance dated 3/13/19, however when I went to get my title transferred to my name at the MVD they could not do it here in AZ because they did not notarize the back of the title or buyout paperwork in order for them to do it which is required in the State of AZ but not in CA where they did the paperwork so I had to call them to have them send a notarized copy to me. So still not completely 100% done yet due to these issues from a 12/30/18 lease date. I'm supposed to call them next week to see if they are sending it out.

 

[pantheman75]

Am I correct in thinking that when the numbers all shake out from leasing and then buying the car out it's about $4000ish in savings below the dealer discount... and that if you just did a straight up purchase it would be about $3000 in manufacturer savings below the dealer discount? So... going through all that lease / buyout legwork nets about an extra $1000 in savings?

 

[jasonvt]

Am I correct in thinking that when the numbers all shake out from leasing and then buying the car out it's about $4000ish in savings below the dealer discount... and that if you just did a straight up purchase it would be about $3000 in manufacturer savings below the dealer discount? So... going through all that lease / buyout legwork nets about an extra $1000 in savings?

No. If you finance, you can get 3k or so in rebates. If you lease, you can get up to 9600 back depending on the model and term.


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[timmywa]

Is Lease Cash an actual amount of money in a one-time transaction? Or is it something that's spread throughout the life of the lease? Can it be considered a "down payment" of sorts? Or used to absorb negative equity from a trade? I hope this makes sense and it's in the right place to ask. Thanks.

 

[ART]

For the Illinois members.
We get taxed on the full purchase price when you do the lease buy-out, correct?

For example.
'18 GT2 AWD
$52355 MSRP
$47,783 Sale Price (this number still needs to come down, working on that....)
$9500 Lease Cash
$38283 Lease Buy-Out

I know there are fees not listed here - just trying to understand the Illinois tax.

So when I go to do the buy-out, I will be taxed on the entire $47,783 Sale Price?

Thanks

 

[PatriotOne]

Does anyone know how log it takes to get the pink slip from Kia Motors Finance? I sent HCA Exchange Inc. the payment check on 6/20 and my 2nd lease payment is due on 7/9.

 

[usagi]

looks like the lease cash incentives are gone.

 

[Colereihl]

looks like the lease cash incentives are gone.

Give it a few more days, they normally update the offers at the beginning of the month and it takes a couple of days for the offers to show up on the website. https://www.kia.com/us/en/offers/

 

[Colereihl]

Does anyone know how log it takes to get the pink slip from Kia Motors Finance? I sent HCA Exchange Inc. the payment check on 6/20 and my 2nd lease payment is due on 7/9.

Mine took nearly two months to arrive. I think some states process them faster than others.

 

[usagi]

Give it a few more days, they normally update the offers at the beginning of the month and it takes a couple of days for the offers to show up on the website. https://www.kia.com/us/en/offers/

they dont seem to list the lease cash. according to autobytel it's $9900 now for a stinger gt2 awd.

 

[Ktstinger]

Can someone much smarter than me assist? Did I get screwed over? A mixture of excitement and thinking I knew what i was doing sweaped over me and now (after reading a ton of content on here) I'm worried I screwed myself. The rebate was a ton higher for leasing and couldn't get the dealership to budge on price. I should have walked but this color combo wasn't available anywhere.
I have a pre-approval from another bank for 2.68%. Should I pay off the car with Kia and refinance with the new lender? What would you do? Help me sleep tonight by figuring out the next best move please!

 

[sycopupy]

What are your thoughts on this lease quote from one of my local dealers? This is for a 2022 GT-Line in So. Cal. TIA!

 

[Nightshifter]

Heh... SoCal prices aren't like that anymore ... hardly any inventory and most likely last of the Mohicans when it comes to Stingers... rumor is Kia cutting production 2nd quarter 2022. You'll be paying over MSRP with no dealer discount but you'll get some incentives.

 

[sycopupy]

Heh... SoCal prices aren't like that anymore ... hardly any inventory and most likely last of the Mohicans when it comes to Stingers... rumor is Kia cutting production 2nd quarter 2022. You'll be paying over MSRP with no dealer discount but you'll get some incentives.

No kidding. Right now it's a bloodbath for buyers. I got lucky and made my purchase before supplies started running out. I got into a 2022 GT-Line for a little over $36k OTD after trade in on a 2009 Honda Accord LX with over 250k miles.

 

[Nightshifter]

No kidding. Right now it's a bloodbath for buyers. I got lucky and made my purchase before supplies started running out. I got into a 2022 GT-Line for a little over $36k OTD after trade in on a 2009 Honda Accord LX with over 250k miles.

The 2022 Gt-line was so much improved! Great car! AWD or RWD?

 

[sycopupy]

The 2022 Gt-line was so much improved! Great car! AWD or RWD?

RWD.