Stinger GT Line - DEAL CHECK - Need Some Help?

Ask the Hackrs
1

I could some help trying to figure out this deal . NJ 07626
2022 Stinger GT Line 36 mos / 12 K mi / yr / Zero Down ( 1st Month out the door )
MSRP $43047
Selling Price $40609 - 5.66% off MSRP
Residual 59% Value $25,122
Money Factor .00118
Lease Incentive Rebate $1500
Trade In $ 2779.

The dealers price is coming in at $468 / month ( includes 7% tax)

When I used the Lease calculator it comes out to $403,

I reviewed the contract and can’t seem to see where they included the trade in of $2779?

2

Thanks for your help!

3

Is this already signed? Looks like it. Enjoy the car!

P.S. You should make sure you answer all these questions before signing. A learning experience for next time.

4

Yes, thanks, but I still want to get some advise and see if I am figuring something wrong?

5

How much did you pay at signing? the trade equity is likely there as CCR

6

I paid nothing at signing , the dealer also paid the 1st month, $468.
They are showing CCR of $3811 + 1st Month $468 = $4279 ( upper left side 6A)
But I was also getting Net Trade $2779 + $1500 = $4279 ( upper right side 6B)
But in 7B they only show CCR $3811 and the adjusted CC is $39,236?
It doesn’t add up, or am I figuring it wrong?

7

Section B in the upper right corner

8

Yes, that’s what I can’t see also,
The selling price of the car is $40609 ( only $2438 off sticker )
So where do they arrive at $3811? ( a balance off of $1373 / $3811 - 2438 = $1373 )
Where is the $1500 and $2779 = $4279 deducted?
Look at the lease calculator where I put it all in , the monthly should be around $403 ?

1 Like
9

$3811 is going to cap cost reduction. The balance of the due at sale is going towards drive offs/first month’s payment.

You’ve also missed all of the fees. You need to include acquisition fee, dealer doc, and gov fees.

10

No I didn’t miss the fees , they were included in the $43,047 ( the MSRP was actually $42,588 , I rolled the fees into it }
So how can they only end up with a CCR of only $39,236?
What am I missing, I can’t see where the trade in is reflected?

11

It doesn’t work that way. You need to itemize the fees. Adjusting the msrp does nothing but screw up the residual value. It doesn’t include them in the costs.

Here is what your corrected calculator looks like:

12

Your trade is being applied as part of the due at sale amount.

There is $4279 due at signing. That is being paid with $2779 in equity and $1250 in incentives.

Of the $4278, $468 of it is covering the first month payment and the balance is being applied as a cap cost reduction.

The dealer has capitalized all of the fees and then applied the due at signing as cap cost reduction rather than applying directly to fees. Either way works fine.

13

So then it adds up and looks ok, I appreciate your help!
Its so confusing :crazy_face:
Thanks

14

If you don’t mind me asking, what Kia dealership in NJ did you go to?

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