Canadian Buyers - How much did you pay vs. MSRP?

[Gtecko]

How come I haven’t seen anyone do the lease/early buyout loophole for this car in Canada? Seems like something to take advantage of. Is it not possible to do in Canada?

I just looked at my BUY NOW lease and it didnt look like it would save me much lol I think it is definitely a US thing as NS_Stinger mentioned

 

[STINGDADDY]

Just bought mine. $50,455 OTD (ALL FEES INCL) in Southern Ontario.
Real invoice price is $43000 by the way. Not 47000.
I'd I paid 47000 pre tax and fee for this car I would've been very mad lol.

 

[magixx]

Just bought mine. $50,455 OTD (ALL FEES INCL) in Southern Ontario.
Real invoice price is $43000 by the way. Not 47000.
I'd I paid 47000 pre tax and fee for this car I would've been very mad lol.

What dealership was this as I may try and do the same.
My first choice was looking for a 2018 Limited with <30,000km for <$35,000 but I've not had much luck (one seller has not got back to me yet unfortunately and another one sold before I could test drive it), how likely are dealerships willing to let the used ones go for this price?
Is the $12,000 difference worth it for a new model vs a 2018 with 30,000km? I know the 2020 has LSD but how much better can that be?

 

[STINGDADDY]

What dealership was this as I may try and do the same.
My first choice was looking for a 2018 Limited with <30,000km for <$35,000 but I've not had much luck (one seller has not got back to me yet unfortunately and another one sold before I could test drive it), how likely are dealerships willing to let the used ones go for this price?
Is the $12,000 difference worth it for a new model vs a 2018 with 30,000km? I know the 2020 has LSD (Limited Slip Differential) but how much better can that be?

Ask for Scott at Orangeville Kia ($41474 base price if you take the Kia prime rate.. which you can do if you have cash to pay it down on the spot and save a ton.. otherwise $45474 at 0%).
Jer sent you.

 

[Dannnnyg]

Hello everyone, first time poster, long time fan of the forum and car... I've been eyeing the GT Limited for quite some time and might be as close as I've ever been to getting the stinger. Would love some feedback...

Used (red on black) 2019 GT Limited 47,000 kms
$36,500 +HST $4k down @6.99%

I am so ready to join this stinger community!!

 

[STINGDADDY]

Hello everyone, first time poster, long time fan of the forum and car... I've been eyeing the GT Limited for quite some time and might be as close as I've ever been to getting the stinger. Would love some feedback...

Used (red on black) 2019 GT Limited 47,000 kms
$36,500 +HST $4k down @6.99%

I am so ready to join this stinger community!!

For 10k more you can get brand new at a lower rate, but they're same car. 6.99 for how long? I can number crunch and lay it out.

 

[Dannnnyg]

For 10k more you can get brand new at a lower rate, but they're same car. 6.99 for how long? I can number crunch and lay it out.

72 months (6 yrs)

 

[STINGDADDY]

72 months (6 yrs)

About 3k ish per year in interest.
That's $17,000 (diminishing over time but still, say 13k with money down) in Interest payments.

Buy new at 0% and 0 down, you'll pay similar and have a brand new car. You can also pay it down later but there's no point. 0% is amazing.

You should not pay more than $45500 for 0%/0 down either.

 

[Dannnnyg]

About 3k ish per year in interest.
That's $17,000 (diminishing over time but still, say 13k with money down) in Interest payments.

Buy new at 0% and 0 down, you'll pay similar and have a brand new car. You can also pay it down later but there's no point. 0% is amazing.

Appreciate that info! The calculation sheet they showed me totaled to just under 46k (price, tax, down payment, finance charges). Definitely looks better than new based on what they showed me. Am I missing anything?

 

[Dannnnyg]

You should not pay more than $45500 for 0%/0 down either.

I am not seeing those offers anywhere in the GTA especially for the GT Limited

 

[STINGDADDY]

Appreciate that info! The calculation sheet they showed me totaled to just under 46k (price, tax, down payment, finance charges). Definitely looks better than new based on what they showed me. Am I missing anything?

Finance charges?? Banks do it for free. They even pay dealers for the business.

Interest rate year over year

So finance amount x 0.0699 every year, reduced by the amount you pay every year.

 

[STINGDADDY]

I am not seeing those offers anywhere in the GTA especially for the GT Limited

Call Scott at Orangeville Kia. Best price in Canada, seriously.

If that includes down payment, your total is 50,000? What I paid for new.

 

[Dannnnyg]

Finance charges?? Banks do it for free. They even pay dealers for the business.

Interest rate year over year

So finance amount x 0.0699 every year, reduced by the amount you pay every year.

I see.
When I see Finance charges I equate that to the cost of borrowing at 6.99%. Is this the wrong approach to this? Is this dealership not truly showing me everything? I can show you the sheet they showed me I can DM you if that's cool.

 

[STINGDADDY]

I can't figure out how to DM here lol

 

[STINGDADDY]

I see.
When I see Finance charges I equate that to the cost of borrowing at 6.99%. Is this the wrong approach to this? Is this dealership not truly showing me everything? I can show you the sheet they showed me I can DM you if that's cool.

I almost got scammed in Newmarket and nearly paid 58k for the car. The dealer margin is huge for Kias, these guys slobber over Stinger sales.
They have $10,000 wiggle room down from MSRP on new Stingers depending on payment setup.

For used, I have no idea but if I see the layout I'll tell you where the BS is.

Still can't figure out PM.

 

[Smeeps]

Hello everyone, first time poster, long time fan of the forum and car... I've been eyeing the GT Limited for quite some time and might be as close as I've ever been to getting the stinger. Would love some feedback...

Used (red on black) 2019 GT Limited 47,000 kms
$36,500 +HST $4k down @6.99%

I am so ready to join this stinger community!!

Geez! That 6.99% is a no go! @ 6.99% for 72 months you're looking at approximately $634.81 after $4,000 down

You would be better off buying a new car 2020 and keep the same monthly premium at 0% interest.

 

[Jayphil]

Depending on your credit score you should be able to get better financing than 6,99% in a reputable garage. Garages and dealership have negociated interest rates with banks so you do not pay the same amount you would pay yourself going for a loan at your local bank. Usually they look at your credit score and they have a chart to offert you a interest based on it, they can choose to give you a lower interest rate and reduce the commission the bank is giving them or even not take any comission an offer you the greatest option to get your sales.

For example my last car I was offered 4% (5 is years ago) in an independent garage and now while shopping the Kia dealership was offering me 3,69% through there financing (not KIA corporate finance).

I would never put a car at 6,99% especially not for 72 months, this is very risky since the car will depreciate much faster than what you will be paying!

 

[Smeeps]

Depending on your credit score you should be able to get better financing than 6,99% in a reputable garage. Garages and dealership have negociated interest rates with banks so you do not pay the same amount you would pay yourself going for a loan at your local bank. Usually they look at your credit score and they have a chart to offert you a interest based on it, they can choose to give you a lower interest rate and reduce the commission the bank is giving them or even not take any comission an offer you the greatest option to get your sales.

For example my last car I was offered 4% (5 is years ago) in an independent garage and now while shopping the Kia dealership was offering me 3,69% through there financing (not KIA corporate finance).

I would never put a car at 6,99% especially not for 72 months, this is very risky since the car will depreciate much faster than what you will be paying!

I agree with him. I bought my stinger used from a Honda dealership.

I bought it last year. The car was 2018 GT with 22K km. I was offered 6.99% financing. I negotiated my way down to 4% and $4K discount on the car to account for that interest. I would suggest if you are okay with your monthly payment, think about a brand new if you're planning on keeping this car for a long time. That 100k, 5 year warranty is worth it.

Plus a 2019 with 47k km sounds like a lot of driving in one year.

 

[Dannnnyg]

I agree with him. I bought my stinger used from a Honda dealership.

I bought it last year. The car was 2018 GT with 22K km. I was offered 6.99% financing. I negotiated my way down to 4% and $4K discount on the car to account for that interest. I would suggest if you are okay with your monthly payment, think about a brand new if you're planning on keeping this car for a long time. That 100k, 5 year warranty is worth it.

Plus a 2019 with 47k km sounds like a lot of driving in one year.

Man. If I ever had reservations on joining this community, I don't any longer! You guys info are great.

 

[Smeeps]

Man. If I ever had reservations on joining this community, I don't any longer! You guys info are great.

No worries man! Let us know what you ended up picking up. StingDaddy's OTD price is amazing.