Well, you’ll want to start with the lease breakdown to see if they’re factoring it in or not. Right now you don’t have nearly enough information to evaluate the deal.
I understand what you guys are saying. But isn’t the main factor, to making a deal, good or bad, the monthly payment ?
How do you know which monthly payment makes it a good deal?
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No, it’s to minimize the total cost of the lease. Your monthly may be low, but you’re also putting $6000 down.
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Fair enough. I feel very much more prepared now. Thank you guys for all your help.
You need to get a lot more info before signing the paperwork. Doing so before you know all the details is going to cost you thousands of dollars.
MSRP- 42K
Sale Price- 33k
36 months
12k mileage
0 down payment
Trade in value at 4K
$325 monthly payment
I haven’t ran credit yet so I don’t know the money factor or the residual yet.
What are your thoughts ?
Thank You
What trim is the Stinger?
Well for them to give you a monthly payment they have to be using a MF and Residual?
Also, what incentives are included in the sale price? Loyalty?
I wouldn’t put any money down and ask for a payout check for the trade-in.
Make your payments $550 on the current car until youre right side up?
It’s a 2019 Kia stinger premium AWD
He’s including a 7200 cash bonus from Kia
You mean a payout check for the $4,000 trade in
So they’re discounting exactly $1,800? Push for $4,000 off the top then the incentive money.
So in order for the dealer to give me a monthly price. He already should know the residual value and money factor already ?
Never allow them to run you credit report until the deal is finalized.
RV doesn’t depend on your credit. Ask forums on Edmund - they have all info on RV, MF and rebates for Tier 1.
You can tell the dealership to assume Tier 1 if you have great credit and go with that.
Okay so once I ask the Edmond forum for the residual value and money factor. Do I demand I get the same at the dealership or do I just try to get as close as I can to those numbers. I’m not sure how that works. Thanks ahead of time
Ask your salesman if he’s signed a mortgage or any other long term loan without knowing the interest rate. You shouldn’t have to do any ‘demanding’.
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You can start with “I’d like to confirm you are using standard rate”. They also can’t change RV as deal won’t be accepted by bank. But they can always “make a mistake” in RV. Have seen a lot of topics lately of dealerships asking people to come back and resign.
They can’t give you a price without knowing what MF/RV they’re using.
Msrp 42k
Sell price 33k
Trade in $4,000
12k per year
36 months
0 down
Taxes and fees upfront
Residual value 49%
Money factor .00200
$317 a month
I’m getting these numbers from a auto broker.
What you guys think about buying thru a auto broker?
I could get the same deal but for $325 a month from a Kia dealer
At $325, many posters had already said your deal was very poor. None of the numbers have fundamentally changed, so your deal is still bad.
No offense, but did you really need to ask if an $8 discount per month is a much better deal?
Your broker sucks.
$4k down and still no break down of rebates vs selling price discount?
Also that MF must be a mistake.
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