Has anyone leased a stinger GT2 - I just got a Quote in MA over the phone of just short of $700 for 36 months 12K miles. I laughed - I am awaiting the numbers. He did say there was $7500 in lease cash on GT2’s.
The Sticker is $52K and the residual he quote was less that 50%
It is a new car with a lot of hype about it, you probably won’t get any decent deals on it until the second half of the year. I have read that some dealers are even selling them with a markup over MSRP…
January from what I saw is $7200 on AWD (which in MA is what you are looking at) .00198 MF and 52% at 10k and 51% at 12k. I want one, my lease isn’t up until August, so hopefully they will be priced better come summer.
I would wait a good couple of months until the hype goes down.
Pretty terrible residual out of the gate.
That MF is also terrible.
True and you have to deal with Kia dealers, it’s the unholy trinity!
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My experience is that most new models, especially those with some hype need over a year before the factory is willing to take any depreciation risk. For example the BMW M2 is far more expensive to lease than an M2. There is a lot of discussion in the industry about the residual value risks they have been taking so I expect we will only see good residuals and MF on the Stinger if they are not selling well. Just a few months ago nearly every factory took reported earnings hits based on the flood of lease returns hitting the lots and residuals not holding up so hot selling cars don’t give them any incentive to take that risk.
$7200 of lease cash out the gate for their top model is insane, no matter what the residual or MF are. Most educated leasers know that new models always have conservative lease rates in the first few months, with little to no factory rebates. If this wasn’t a Kia, I don’t think we would be having these conversations.
However, I am leaning on my experience from my 2016 Hyundai Genesis lease, which I got for $283/mo on $42k MSRP. I am confident that within a year Kia will be offering the employee discounts with hefty incentives and we’ll see the mid-300s on at least the GT and maybe the GT1 models.
If my 335 continues to have issues, I’m looking to lease a Stinger GT/GT1 AWD, Q50 Sport AWD, or possibly 2018 Accord Sport 2.0 6MT in the next year. Lots of exciting options in this segment.
They make up on the money factor which is like .00200. How reasonable is that for Tier 1 customers?
Kia always does that, huge lease cash and then sky high money factor to take most of it back. There must be an accounting benefit for Kia (something like lease rebate being part of COGS and not taxed as part of gross profit) otherwise customers are needlessly paying sales tax on that huge lease cash upfront and the monthly rent charge.
I am very surprised they have any lease cash on these. I just imagine that ppl are eager to get one and Kia wouldn’t need to help push them along.
A few years ago while car shopping I was showing my wife photos of various options and while looking at an Acura she saw the price and said “Who is going to pay $50,000 for an Acura?”
If people feel that way about Kia then no matter how good the car it won’t sell. It can win every automotive award on the planet and consumers will ignore it and buy a Camry or Accord.
Must be a very long time ago. Acura had over $50k cars for decades.
I’m not sure how hot they are, I’ve yet to see one on the street. My wife and I looked at them 6 weeks ago. I drive by the dealer when driving to and from work, and I’ve seen the same ones parked in the same spots since then.
About 18 months ago if I recollect. Point is that her perception of Acura was of a product range that wasn’t worth $50K+. I’d say recent lack-luster Acura sales numbers support her opinion.
Actually, Acura sales seen a nice gain in 2017, even in tlx, which is surprising in this market. People seemed okay to pay over 50k for mdx.
Not so. Acura sales in the US were down 4.2% in 2017 vs. 2016 including a 12.4% drop in December 2017.
They did outperform their rival Lexus who was down 8% though Lexus has twice the sales volume of Acura. Infiniti came very close to passing Acura in total sales last year.
Kia could use a success with the Stinger- they were down 9% in 2017.