2019 Stinger GT2 (Ceramic silver)

[trainheavy]

I've been going back and forth with a dealership about options to get to a desired monthly payment for a purchase. To get there it's been proposed an 84 month term loan at 3.74% without it being certified. It goes up an extra $16 per month to get it Kia certified. I'm wondering 2 things: a) am I crazy to accept an 84 month and b) is it wise to get the powertrain warranty added? I'm not sure what I think about a twin turbo engine with no extended powertrain on it.

Any help would be appreciated. Thanks!

 

[fooolish1]

At 84 months you can be assured you will be buried in the car and upside down. Another words you're going to owe much more than it will be worth for a long time as you will not be denting principal for the first two/three years or so while the car depreciates rapidly. I wouldn't go more than 60 months. Lastly, why would you buy an extended powertrain warranty when it comes with a 1o year 100,000 mile from Kia?

 

[Sabs]

So you're talking about a used/CPO car? I wouldn't go to an 84 month term for new, let alone used. 7 years is a long time. If it ever gets wrecked or you want/need a different vehicle you'll be pretty far upside down on the loan.

Not what you want to hear, but if you need to go up to a 84 month loan to comfortably afford the payment, it's probably not a good financial choice. May want to look at a GT or GT1 instead.

 

[MTStinger]

Working in the car business for many years I can tell you they are just bumping you in payment for pure profit. Are you buying it from a Kia Dealership? Is it listed on their website as a Certified Kia? If yes, then it's just a tactic to get you to pay more. They are already going to do well on the back-end of the deal with it being 84 months. $16 a month doesn't seem like much, but over 84 months that's over $1300.

I know these are awesome cars, just be careful and don't be afraid to walk away.

 

[trainheavy]

At 84 months you can be assured you will be buried in the car and upside down. Another words you're going to owe much more than it will be worth for a long time as you will not be denting principal for the first two/three years or so while the car depreciates rapidly. I wouldn't go more than 60 months. Lastly, why would you buy an extended powertrain warranty when it comes with a 1o year 100,000 mile from Kia?

Because it's a used vehicle and it's not certified. It's a Kia dealership so they can but they said they want to give the buyer the option. The bumper is still intact for 4 more years. But I hear you on the 84 month term. That's my concern also. Thanks.

 

[trainheavy]

Working in the car business for many years I can tell you they are just bumping you in payment for pure profit. Are you buying it from a Kia Dealership? Is it listed on their website as a Certified Kia? If yes, then it's just a tactic to get you to pay more. They are already going to do well on the back-end of the deal with it being 84 months. $16 a month doesn't seem like much, but over 84 months that's over $1300.

I know these are awesome cars, just be careful and don't be afraid to walk away.

Yeah its at a Kia dealership but they give the option to certify so its not in the price of the car. The reason I even consider it is because I've had 2 dealerships willing to give me $1600+ in equity on my Charger GT loan. If I wait into term I lose that. Just trying to take advantage of the market.

 

[MerlintheMad]

Ah, the privilege of leasing. If you can afford it. Welcome to the forum.