First time lease here. Looking for a little guidance. Here are the details so far.
2019 Stinger 2.0 Premium
MSRP- $42,880
Sale price - $38500
Residual- 22,297
Money factor 0.00196
36 Month Lease
10k per year allowance
$0 down $409 *first payment due at signing.
$2000 down $359 *first payment due at signing.
$3000 down $329 *first payment due at signing.
Invoice looks to be $38.8k
Wondering what I should be asking for more details on. I have no trade ins and currently no payments. They mentioned dealer cash. I’m not sure if they’re applying to msrp to get the sale price. I’m only a couple days in so far. Im in NH, so no taxes. I seem to be at the 1% rule if I read the guide right.
You can as the dealer to provide breakdown of the sales price (to see if any dealer cash/incentives were factored in) and then ask on the Edmunds forum about the MF. And then plug in the numbers into the calculator to see if the dealer is padding the monthly payment.
When I build this car on Kia’s site, there appears to be a -$6400 applied offer until 4/1. This did not come up in our talks, just “dealer cash”. Maybe the same thing? Kia puts the lease with the same basic conditions at $520.
NH has no sales tax, so the monthly should have no taxes added. Our registration fees tend to be higher to make up for this, but I’m prepared for that. I still need to clarify this with the dealer, but everything I’ve read online so far, albeit little, seems to say no tax on vehicles unless it is registered outside of NH and then that’s taxed by the local government. I guess tax evasion can be a problem if you don’t declare it.
I’m preparing to send an email back to get more info. I want to make sure I ask the right questions.
I’m still pretty new to all of this, but, if the rebate is listed on the Kia website, I assume it’s coming direct from the manufacturer (and thus doesn’t eat into the dealer’s profit). If that’s the case, then your selling price is sh*t.
Edmunds is giving me .00196, 52% RV and - $6400 lease cash. This is how I have the calculator configured and it’s putting me about the same monthly payment as the dealer:
In NH the dealer gives you a 20 day temporary plate and you register the vehicle yourself at the local town hall. They charge you more than typical. I beleive this is where they collect the “taxes”. But it’s not phrased that way.
To truly rate this deal compared to others, I would try to find out how much that would cost. If the registration/fees/etc. is less than $640 the calculator shows you within 1%
The only estimator I could find for NH is for a city where the local fees are likely higher. Estimate was ~750/yr. Bumps my rate to 432/mo. Just a touch over 1%.
Im guessing my local rate will be a little lower, but I don’t know for sure.
It’s really not bad overall. I don’t know how much more patients you have or how badly you need a car, but if you can hold off till closer to months end, you can probably get a little bit more off.
I’m not in a rush. Don’t really need the car at all. Just ready for something new after 12 years in one car. Just wanted to make sure I’m where I thought I was. Thanks for the help. You got me thinking the right way.
Kudos to you. 12 years in one car? I know I couldn’t do that…
I would say look at a Stinger GT base since it’s about the same MSRP, but the lease will be worse since there is significantly less lease support for that compared to the Premium.
Had a base GT and would I don’t think I would have enjoyed the Premium if I got it.
