I’m working on a deal on this Kia Stinger GT - Line - Would like to know your thoughts?
MSRP : $39,375
Sell Price : $35,988
Doc Fee: $495
Acq Fee $650
Cap Sales Tax NJ - $1438
Tot Gross Cap Cost : $38,579
REBATE : $6,123
Net Cap Cost :$32,456
Residual 47%
Residual Value : $18,506
36 mos 12K miles / year
Drive off amount and monthly (including tax): $476
Not the worst stinger lease I’ve ever seen. That low residual is a killer. With stingers, generally leasing only makes sense if you’re going to immediately buy it out and are just leasing it to get the larger incentives.
I forgot to mention they are taking me out of a 2018 Genesis G80 Sport with 4 payments left of $635.
Total $2540 . Actually they are buying the car from Hyundai to retail. It’s mint with 25K miles.
Are they rolling the payments in? Do you have a contract? Have you checked the retail value to make sure you’re getting fair value? Have you checked car buying sites like carvanna to see what they’ll give you compared to your buyout?
What’s the price on it?
They’re paying just over $33,xxx
Let’s just make sure there’s isn’t any equity you’re leaving on the table by not doing the selling yourself.
Try to keep the 2 deals separate.
Yes it’s all in writing on paper, no contract has been written yet. My buyout on the lease was $35,968. Being a kea dealer they got a better price.
I’m just giving them the keys they will do the rest with Hyundai.
When you do get the contract, post it here, make sure they aren’t rolling any payments in.
Something is not adding up
If buyout is 35k, they’re paying 33k, what’s happening with the remainder? Genesis isn’t going to let it go…
I don’t think it works that way lol…
Need to see the detailed quote… Something is not adding up
As I said, they negotiated a better price with Hyundai. They want to retail it. These are retailing now for $35- 36,000.
Okay…
GT-Line rebate is $6,600 on 36 months
Also might be some loyalty rebate ($750) but not sure
Whats your MF on this? that price seems really high for that cost - $90 per month or so in interest seems insane?
It’s a stinger. High MF and poor RV is par for the course, large part of why it usually only makes sense to lease these if you’re going to immediately buy it out.
Interesting. I just got a G70 in March and was able to get rent of $600 over 36 months, roughly $17 per month. I’m surprised stingers are so different.
I’m waiting for the dealer to call back and ask him for the mf. Does it show anywhere on my deal quote?
They list the “service charge” which is the rent charge. It back calculates to .00175
You need to find out from edmunds what buy rate is to compare.
