2020 GT2 AWD - Advice Needed

[Fahadddddy]

Hello Stinger family,

I am in the market for a Stinger GT2 AWD to finance. I am trying to lock in the best deal possible but not sure what I'm offering is "fair".

The best deal I've been able to see on the forums is from @Lonz but he did the lease buyout method. This method works great if you have the cash to buy the car outright but doesnt make sense to walk away from 0% interest when buying out using finance through a bank paying anywhere from 2%-5% interest. I am pretty much trying to get the same numbers as Lonz through KIA financing.

MSRP of $54,140
10% discount off MSRP
$10,200 incentive
Car Price excluding taxes/fees - $38,526

I've sent a dealer a breakdown of the above and requesting them to match but haven't heard anything yet (just sent requests out today).

Is this possible? Can I get a better deal? Can I pay someone a fee to help me get the absolute best deal?

Let me know if you need any more information. I am looking to lock in a car by this weekends end.

ps. I am in Virginia and a novice car buyer so bare with me

 

[eflyguy]

The lease incentives are KMF's way of providing low/no interest. Lose it up front, pay over time.

You can't have it both ways.

 

[Lonz]

The deal I got was via the 24-month lease rebate, and then immediate buy-out. There is an interest rate as part of the lease (called the money factor in lease jargon). Not sure what the rate is for my deal. It's probably at least 3%-5%, but I don't really care what it is, since I'll be buying out the lease in the next 2 weeks (as soon as I get my paperwork from Kia Finance). I could go to a bank and get a loan for the buy-out, but luckily, I have the cash to buy it out now, so no need for a loan. I'm not a very big fan of loans. I hate owing people money. But that's just me .

Bottom line, the only way you'll get to the $39k mark is via the lease buy-out trick that I'm doing (and have already done last October).

Hope this helps!

 

[Fahadddddy]

The deal I got was via the 24-month lease rebate, and then immediate buy-out. There is an interest rate as part of the lease (called the money factor in lease jargon). Not sure what the rate is for my deal. It's probably at least 3%-5%, but I don't really care what it is, since I'll be buying out the lease in the next 2 weeks (as soon as I get my paperwork from Kia Finance). I could go to a bank and get a loan for the buy-out, but luckily, I have the cash to buy it out now, so no need for a loan. I'm not a very big fan of loans. I hate owing people money. But that's just me .

Bottom line, the only way you'll get to the $39k mark is via the lease buy-out trick that I'm doing (and have already done last October).

Hope this helps!

Lonz, I appreciate the detailed explanation! Helps me understand the details a bit better.

I did reach out to dealerships with your numbers but asking for a finance term with them. I figured I'd give it a shot. One of the dealers responded and said "I can do that price, when can you come in?"

The below is the email I sent over:

After doing some market research I've seen other buyers getting the below deal. This specific transaction is from last week.

MSRP of $54,140
Minus incentives/ 10% msrp discount - $38,526
Out the door price - $40,791.69.

Please let me know if a deal like the above example is possible. I have a credit between 730-740 and looking to do an 84 month finance term.

Now I'm curious if hes bsing me or what...

 

[Lonz]

I suppose it's possible, but I wonder if the dealer is thinking you're going down the 24-month lease, and then buy-out path? If I understand correctly, you're not looking to go down the 24-month lease, buy-out path, correct? If not, looks like the largest rebate you can get is $6200 bonus cash (at least that's the amount for my zip code), which is $4000 less than the 24-month lease rebate. That being said, I would imagine the best price you'll get is going to be $42,526, plus fees and taxes. I arrived at this number via the following math:

10% off of MSRP = $48,726.

Less $6200 rebate = $42,526.

I do see other rebates out there, however, I do not believe they are stackable. 2020 Kia Stinger Incentives and Rebates | Autobytel.com.

If you can get them down to $38,526 (before doc fee and taxes) without the 24-month lease rebate path, that would be an absolute home run deal! The only way I see you getting to this number is if, indeed, the rebates are stackable. Suppose you could ask them if the rebates are stackable... Usually, they're not. If you do get them to $38,526 without stackable rebates, this means they'd be losing money, no question.

Hope this helps!

 

[Fahadddddy]

Thanks, Lonz, very helpful info!

Correct, I am NOT looking to go down the 24 month lease buy-out path.

I am hoping to hit a home run but I will reach out to the sales guy once again so he understands the path I am trying to take. Last thing I want to do is show up at the dealership and his assumptions are different than mine.

I think worst case scenario I go with the lease buyout plan and get a 72 month loan from my CU at 2.29% interest

 

[anniepeachie]

Maybe I'm just butthurt from my failed negotiations, but I have no idea how he could give you a $38.5k price to finance. I mean, I'd love to finance that price + TTL, but I want to buyout and finance through my CU. I'm not sure what the stacked $6200 rebate is comprised of, but maybe it's the zip code.

In my personal experience in the past two weeks, an alarming number of dealers love to quote you prices which include every possible rebate and make it as if it's your OTD. Even when you insist you want to negotiate without rebates ("I'm not sure if I'm going to finance, lease, or all-in....") they act confused and repeat the all-inclusive after rebate price or just default to MSRP. I *hope* I'm wrong, but that dealer quote is gonna change fast once you're in the chair, so be well-prepared.

 

[RonNSoCal]

Maybe I'm just butthurt from my failed negotiations, but I have no idea how he could give you a $38.5k price to finance. I mean, I'd love to finance that price + TTL, but I want to buyout and finance through my CU. I'm not sure what the stacked $6200 rebate is comprised of, but maybe it's the zip code.

In my personal experience in the past two weeks, an alarming number of dealers love to quote you prices which include every possible rebate and make it as if it's your OTD. Even when you insist you want to negotiate without rebates ("I'm not sure if I'm going to finance, lease, or all-in....") they act confused and repeat the all-inclusive after rebate price or just default to MSRP. I *hope* I'm wrong, but that dealer quote is gonna change fast once you're in the chair, so be well-prepared.

I agree, dealers will offer things they have no intention of actually giving you just to get you in the office, Bait and switch, confuse the buyer as much as possible and hope the excitement of the new car will result in you paying a lot more than you had expected to pay. Be careful in negotiating with dealers, they are pros. I used to sell cars, and there are so many tricks they can play on you if you are not wary. Between the advertised price, fees they can sneak in, over priced extra add ons you do not need, the financing and trade ins, there are many ways for a dealer to skew the results of what you actually end up paying.

 

[Fahadddddy]

I agree, dealers will offer things they have no intention of actually giving you just to get you in the office, Bait and switch, confuse the buyer as much as possible and hope the excitement of the new car will result in you paying a lot more than you had expected to pay. Be careful in negotiating with dealers, they are pros. I used to sell cars, and there are so many tricks they can play on you if you are not wary. Between the advertised price, fees they can sneak in, over priced extra add ons you do not need, the financing and trade ins, there are many ways for a dealer to skew the results of what you actually end up paying.

I agree with you guys, and hence im trying to do the negotiation online to avoid the pressure they apply. My plan is to walk in and see the $40.8k price that was promised out the door price no questions asked lol. If I notice any games I'm walking away simple as that. Planning to go in tomorrow evening.

 

[anniepeachie]

Good luck and tell us how it goes! FYI, it looks like the best Kia Finance rate is 4.25% if you also take any rebates. So don't go expecting the 0% APR with a price like that. I'd just be happy with 10% off MSRP right now, so if you can score that, no matter how you pay, I say it's a win. Just watch him trying to sell you on payments, stick with price.

 

[eflyguy]

I agree with you guys, and hence im trying to do the negotiation online to avoid the pressure they apply. My plan is to walk in and see the $40.8k price that was promised out the door price no questions asked lol. If I notice any games I'm walking away simple as that. Planning to go in tomorrow evening.

Then do it all remote. Have them send all the paperwork by email. Look it over. Don't even step foot there until you're happy.

I bought mine from Kia of Muncie 500 miles from home. We worked out the details before the car even arrived on their lot. The morning after it did, I bought a ticket for a flight later that day and flew up. Signed the papers, and drove it home overnight. If I buy another Kia, I'd likely use them again - assuming the same team is still in place.

(I live in Atlanta. There are probably a dozen KIA dealers within an hour. I won't do business with any of them because of their stupid sales tactics.)

 

[Fahadddddy]

UPDATE:

First, thank you all for the input and advise, it really helped me. Special thanks to @Lonz !!

I am officially a proud owner (after a lease buyout) of a 2020 Stinger GT2 AWD - White Exterior/Red Interior.

The only way to get these types of numbers is through the lease buyout loophole.

So, I got the car price down to $38,800, with taxes/tags/fees, my net cost comes to $42,560.19.

Maybe I could have avoided all those fees, maybe not but I had to pay the processing fee, transportation, and acquisition fee. No point in crying over spilled milk now, still a good deal imo.

Below is the breakdown:
MSRP - $54,180.00
Sale Price - $,38,800
Destination - $990
Processing Fee - $799
Taxes - $1,769.44
Tags - $73.35
Acquisition - $128.40 - Got $500 taken off to get to that.
Total - $42,560.19

Story time for those interested in how my day went:


In my earlier post I mentioned a dealer said they could give me the same deal on finance for 84 months. I drove an hour and a half up to Kia of Bowie in MD. The sales guy goes: I thought you wanted $40,791.69 out the door price for the Stinger GT. At that point I was upset as I broke down the Stinger GT2 for him in my initial email… When I asked him what he could do for me on a finance or lease deal for a GT2 they said there’s no way they could get me the deal I was looking for, anyways long story short, I spent 20 mins there and headed to the next dealership without an appointment. The way I was rejected I lost hope, I wasn’t sure I could get any dealer down to $38,526.

Next stop KIA of Woodbridge in VA.

First sales guy showed us the car, I told him what I was looking for numbers wise and he turned sour instantly, said I was crazy and there’s no way. Instantly turned me over to another sales guy.

I asked the next guy to break out the numbers and informed him that I was willing to do a lease as well with the incentives etc. He told me I’m not allowed to buyout a KIA lease… I then broke out @Lonz deal and he still said this doesn’t make sense and can’t be done. Luckily the finance manager knew all about this loophole and he schooled his salesperson, as well as walked me through the process of how its done, etc. He said very few people know about this and he has handled only a handful of these types of deals. All in all, once the finance manager got involved it was very straight forward, slight negotiations and I got the price down to $38,800.

Let me know if you guys have any questions, if I can help in anyway, or if you simply have advise on where I could’ve done better.

Next step is too go through the buyout process, hopefully all goes well.

Thanks again Stinger fam!

 

[anniepeachie]

We're smack dab in the middle of a negotiation right now after a test drive. Getting numbers after lunch. Send us good vibes!!

 

[Fahadddddy]

We're smack dab in the middle of a negotiation right now after a test drive. Getting numbers after lunch. Send us good vibes!!

Awesome!! Goodluck!! Hope it goes your way, keep us posted

 

[eflyguy]

The only way to get these types of numbers is through the lease buyout loophole.

Yes. My reply - the first in this thread - told you that.

 

[Lonz]

So, I got the car price down to $38,800, with taxes/tags/fees, my net cost comes to $42,560.19.

Nice work, and thank you for the shout out! Happy to help! I love it when people get awesome deals!

I'm curious about what the destination charge is for $990? Isn't that already baked into the MSRP of $54,180?

I like how one of the sales guys said you cannot buy out the lease. That's hysterical! If I'm a sales guy, I'm going to know every single possible way to get a deal closed. Crazy how some of these salespeople are so uninformed. It's baffling to me.

 

[Fahadddddy]

Nice work, and thank you for the shout out! Happy to help! I love it when people get awesome deals!

I'm curious about what the destination charge is for $990? Isn't that already baked into the MSRP of $54,180?

I like how one of the sales guys said you cannot buy out the lease. That's hysterical! If I'm a sales guy, I'm going to know every single possible way to get a deal closed. Crazy how some of these salespeople are so uninformed. It's baffling to me.

That is a very valid point... dang it!!! I missed that detail. It took me 30 mins to get him down $500...

 

[playmaker023]

@Fahadddddy how did you get them so low? I'm in Washington state active duty military and going to drive ~2 hours tomorrow to the dealership. Looking at the GT 2 AWD Ceramic Silver with red interior. MSRP $54,155 online sale price of $47,300 because of Dealer discount of $3,355 and kia customer cash of $3500. I get a military discount of 400 so the price "is" $46,900 [54155 - 3500 - 3355 - 400]. I asked him if he could go lower on the price at all to at least $46,000 and he said absolutely no room to wiggle. But I should come to test drive it and once I love the car deal with the finance team and work out a price. I wanted to haggle the deal before I even get there and then hit them with the lease part. It seems his only objective it is to get me at the dealership

A little back story I have one more 3 month deployment I do not "need" a new car because I don't want to pay for something I can't use for 3 months while I'm away. Ideally I was waiting on a little more information on the 2021 fleet before pulling the trigger because I would return to the states early next year and I am only going to buy if it's like a super great deal. When I told him I wanted to negotiate before he started asking me about my trade in value asking for pictures of the vehicle. I got a quote from the kmf site saying it's worth $8551, and he said he had a hard time believing that because it has over 100,000 miles. He stated he needs all the pieces of the puzzle to make this deal work. I told him that my trade in value isn't a piece of the puzzle because it has nothing to do with the sale price and then he said there is a trade in credit of $1500 that can get the price down to $45,400. I think something isn't right because at first he said he can't budge and then seconds later gave me a price that was under what I requested. He said there's power in my presence being physically in the dealership and that people request a price and then try to get it matched at a dealership closer to them.

I have been trying to follow all this math to get an OTD price so I can work backwards to know how low I need to get him initially on the MSRP. It sounds like they have a lot more wiggle room once I'm in person but I don't know how to get them there. I am not from Washington but I know the state tax in that county is 10.3% (goodness gracious). I told him I want to register the car myself as my current car is registered in Florida to save on some registration costs. I also had a question about the lease buyout. On the KMF site they say their finance department has the 0% APR on loans until 8/3. Is it possible to get the buyout financed at 0% through Kia or is it on me to have my own financing secured. Which would be absolutely no problem at all just a phone call to one of the banks I have and it's done, but 0% is better lol. Below are some numbers that I have for the loan calculation. (Probably wrong)

Est. Capitalized cost - 46,900 (MSRP-dealership credits??)
Offer (24 month lease) - 9,300
Discount - $400
Net price - $37,600
Down Payment (trade in) - 8551
Additional Fee's -650
Adj Capitalized Cost - $29,699

 

[STINGDADDY]

@Fahadddddy how did you get them so low? I'm in Washington state active duty military and going to drive ~2 hours tomorrow to the dealership. Looking at the GT 2 AWD Ceramic Silver with red interior. MSRP $54,155 online sale price of $47,300 because of Dealer discount of $3,355 and kia customer cash of $3500. I get a military discount of 400 so the price "is" $46,900 [54155 - 3500 - 3355 - 400]. I asked him if he could go lower on the price at all to at least $46,000 and he said absolutely no room to wiggle. But I should come to test drive it and once I love the car deal with the finance team and work out a price. I wanted to haggle the deal before I even get there and then hit them with the lease part. It seems his only objective it is to get me at the dealership

A little back story I have one more 3 month deployment I do not "need" a new car because I don't want to pay for something I can't use for 3 months while I'm away. Ideally I was waiting on a little more information on the 2021 fleet before pulling the trigger because I would return to the states early next year and I am only going to buy if it's like a super great deal. When I told him I wanted to negotiate before he started asking me about my trade in value asking for pictures of the vehicle. I got a quote from the kmf site saying it's worth $8551, and he said he had a hard time believing that because it has over 100,000 miles. He stated he needs all the pieces of the puzzle to make this deal work. I told him that my trade in value isn't a piece of the puzzle because it has nothing to do with the sale price and then he said there is a trade in credit of $1500 that can get the price down to $45,400. I think something isn't right because at first he said he can't budge and then seconds later gave me a price that was under what I requested. He said there's power in my presence being physically in the dealership and that people request a price and then try to get it matched at a dealership closer to them.

I have been trying to follow all this math to get an OTD price so I can work backwards to know how low I need to get him initially on the MSRP. It sounds like they have a lot more wiggle room once I'm in person but I don't know how to get them there. I am not from Washington but I know the state tax in that county is 10.3% (goodness gracious). I told him I want to register the car myself as my current car is registered in Florida to save on some registration costs. I also had a question about the lease buyout. On the KMF site they say their finance department has the 0% APR on loans until 8/3. Is it possible to get the buyout financed at 0% through Kia or is it on me to have my own financing secured. Which would be absolutely no problem at all just a phone call to one of the banks I have and it's done, but 0% is better lol. Below are some numbers that I have for the loan calculation. (Probably wrong)

Est. Capitalized cost - 46,900 (MSRP-dealership credits??)
Offer (24 month lease) - 9,300
Discount - $400
Net price - $37,600
Down Payment (trade in) - 8551
Additional Fee's -650
Adj Capitalized Cost - $29,699

38000 usd is a fair price for this car, all in.

 

[Fahadddddy]

@Fahadddddy how did you get them so low? I'm in Washington state active duty military and going to drive ~2 hours tomorrow to the dealership. Looking at the GT 2 AWD Ceramic Silver with red interior. MSRP $54,155 online sale price of $47,300 because of Dealer discount of $3,355 and kia customer cash of $3500. I get a military discount of 400 so the price "is" $46,900 [54155 - 3500 - 3355 - 400]. I asked him if he could go lower on the price at all to at least $46,000 and he said absolutely no room to wiggle. But I should come to test drive it and once I love the car deal with the finance team and work out a price. I wanted to haggle the deal before I even get there and then hit them with the lease part. It seems his only objective it is to get me at the dealership

A little back story I have one more 3 month deployment I do not "need" a new car because I don't want to pay for something I can't use for 3 months while I'm away. Ideally I was waiting on a little more information on the 2021 fleet before pulling the trigger because I would return to the states early next year and I am only going to buy if it's like a super great deal. When I told him I wanted to negotiate before he started asking me about my trade in value asking for pictures of the vehicle. I got a quote from the kmf site saying it's worth $8551, and he said he had a hard time believing that because it has over 100,000 miles. He stated he needs all the pieces of the puzzle to make this deal work. I told him that my trade in value isn't a piece of the puzzle because it has nothing to do with the sale price and then he said there is a trade in credit of $1500 that can get the price down to $45,400. I think something isn't right because at first he said he can't budge and then seconds later gave me a price that was under what I requested. He said there's power in my presence being physically in the dealership and that people request a price and then try to get it matched at a dealership closer to them.

I have been trying to follow all this math to get an OTD price so I can work backwards to know how low I need to get him initially on the MSRP. It sounds like they have a lot more wiggle room once I'm in person but I don't know how to get them there. I am not from Washington but I know the state tax in that county is 10.3% (goodness gracious). I told him I want to register the car myself as my current car is registered in Florida to save on some registration costs. I also had a question about the lease buyout. On the KMF site they say their finance department has the 0% APR on loans until 8/3. Is it possible to get the buyout financed at 0% through Kia or is it on me to have my own financing secured. Which would be absolutely no problem at all just a phone call to one of the banks I have and it's done, but 0% is better lol. Below are some numbers that I have for the loan calculation. (Probably wrong)

Est. Capitalized cost - 46,900 (MSRP-dealership credits??)
Offer (24 month lease) - 9,300
Discount - $400
Net price - $37,600
Down Payment (trade in) - 8551
Additional Fee's -650
Adj Capitalized Cost - $29,699

Hey @playmaker023 , first, thank you for your service!

Awesome color choice, I wish I was able to find a ceramic silver with red interior. Honestly without @Lonz screenshot I wouldnt have gotten the deal I got. I used that screenshot as my Ace card and kept showing it to them lol. I said I am not paying more than what this guy paid and he just got the car last week, either you can make it happen or I cant afford to get the car. As I mentioned above the finance manager understood the lease to buy loophole and once he knew he cut the bs and got the price where I needed it. I'd say stick to your guns as you know it can be done. Attached is a screenshot of my deal. I should of paid attention to the destination charge as its already part of the MSRP price.

I dont think you can buyout the lease using KIA finance, would be lovely lol. I think that offer is there if you directly purchase the car and not lease. I was able to secure a 72 month loan at 2.29% through my CU.

Hope that was helpful, I am a noob at this stuff but I just closed my eyes and said I want this guys deal...

Goodluck and let us know how it goes!