I’ve only financed new cars in person in the past. This one is over 2 hours away so I’d like to know if I’m approaching this the right way. I’m looking to do either a lease and buy it out right away, or balloon financing, to take advantage of Kia’s lease incentives.
This is for a '19 Kia Stinger GT2 in Arizona, in-state for me. I have a specific stock # picked out.
Here’s what I was thinking of doing:
- Call dealer, ask to speak with an internet manager
- Give them their stock # and model/trim/color. Ask for them to get back to me on whether it’s available, and whether miles are low (<100, not looking for a demo), and if there are any other issues such as repaired lot damage. Find out local tax rate and doc fee. Also, see if they’re familiar with balloon loans.
- Prepare an offer for the adjusted capitalized cost. I have a trade-in so that would be included in the offer along with a copy of the CarMax price offer I’m looking to match. The dealer’s online price looks good, so otherwise I’d just be plugging in the numbers.
A few questions:
- The adjusted cap cost is what I should be negotiating if I only care about the OTD price and not the finance charges, correct?
- Is this a good way to go about it since I have a trade, or should I have them first write up an offer to me and go back and forth a bit on price if they pile on some dealer add-ins?
- Since I’m over 2 hours away, I’d like to hold the car for a few days if we agree on a number. How far into the process can I get without being there in person given that I have a trade-in? I’d gladly make a deposit by CC.
Thanks for the help.