End of lease purchase price

[StumpZ]

My lease is up in December on my 2019 GT1. The dealer reached out today and said my purchase price would be $25,211. Kind of tempting in this market but would like to go back to a pickup truck. Anyone purchase after their lease was up?

 

[Baluchitherium4]

I would purchase it and either sell it or trade it in for more than what you paid for it in this market.

 

[Fredman]

Lease was done last month. Bought my 2019 GT. I put some cash down so buyout was 21K. 36,000 wonderful miles with
-zero- issues. I know what I am sitting on in equity I am just going to give to the next guy if I try to step away so I don’t know what I’m going to do.. I’ve been looking at different dealerships, different models but dollar for dollar it’s REALLY hard to stack up against the stinger. I think about moving on and then I look and almost cry. Unfortunately I am not made of money and spending a bunch more cash right now doesn’t sound like fun. What I know is a ton of fun and has treated me really well is this car.
“Almost” thinking I will happily burn my equity and keep my baby and hope Kia honors me to 100K being first buyer.

 

[StumpZ22]

I put it through the Edmunds used car value thing and it said Car Max will buy it for 34K. The 25K includes my last 5 lease payments so I actually might make an appt with Car Max. Probably too good to be true!

 

[NYBIOMED]

I sold my 2017 Toyota Prius Prime to CarMax for $18k back in early March and rolled it into my 22MY Stinger. Easiest sale ever, but check around the others, I just priced out my son's 2018 Chevy Volt with 45k miles. Carmax offer was $21.4k, Carvana was $24k- big difference. Carmax was the highest for the Prius tho...so check.

 

[Kr33m0]

Lease was done last month. Bought my 2019 GT. I put some cash down so buyout was 21K. 36,000 wonderful miles with
-zero- issues. I know what I am sitting on in equity I am just going to give to the next guy if I try to step away so I don’t know what I’m going to do.. I’ve been looking at different dealerships, different models but dollar for dollar it’s REALLY hard to stack up against the stinger. I think about moving on and then I look and almost cry. Unfortunately I am not made of money and spending a bunch more cash right now doesn’t sound like fun. What I know is a ton of fun and has treated me really well is this car.
“Almost” thinking I will happily burn my equity and keep my baby and hope Kia honors me to 100K being first buyer.

What was the process like? Did you have to schedule an appt or just walked in? Did they make things tough on you (i.e. forcing you to trade or sell to them, etc.)? I'll be doing the same in the coming weeks so would love to know what to expect! Thanks!

 

[Ric 'Ochet]

My lease is up in December on my 2019 GT1. The dealer reached out today and said my purchase price would be $25,211. Kind of tempting in this market but would like to go back to a pickup truck. Anyone purchase after their lease was up?

I'll buy it. I want another one so I can garage my GTS.

 

[Kr33m0]

Chat with Kia Financial, seems like the whole buyout process can be done online.

 

[Fredman]

What was the process like? Did you have to schedule an appt or just walked in? Did they make things tough on you (i.e. forcing you to trade or sell to them, etc.)? I'll be doing the same in the coming weeks so would love to know what to expect! Thanks!

Two months before lease expired they were sending letters, emails and calling trying to get me to stop in and check out other models. They said several times they would gladly “take it off my hands”. Like, just come in and drop it off. Lol -
Finally called dealership and said I was purchasing. They scheduled meeting with finance and it was a done deal. Quite painless. Title arrived quickly. Still undecided on what I want to do with the car. - Awesome machine.

 

[CKeeler]

Chat with Kia Financial, seems like the whole buyout process can be done online.

THIS

 

[CKeeler]

I bought mine out almost a year ago. I did it all through Kia Financial’s website. The dealership was going to screw me over with all sorts of fees on top of the buyout price. Just call Kia Finance first and double check everything that needs to be sent out. After you’ve sent your stuff out, wait two weeks and call to make sure they have everything. I had to do that and got a great rep on the phone that said one of the forms didn’t come through correctly and stayed on the phone while I sent in a new one.

 

[StumpZ]

The dealer purchased my car yesterday. Walked out with a check for $6549.00. Not bad having them pay off your lease buyout and make money. What a crazy car market right now.

 

[Kr33m0]

Just bought mine out online yesterday. So waiting for the next steps, title etc. Did anyone find that the base pay (total lease amount) + the buyout came slightly under MSRP?

 

[Fredman]

I'll buy it. I want another one so I can garage my GTS.

I have been on fence for a while over selling because I love this car so much and I know I won’t replace it with something similar without spending a bunch of money. So i’ve decided to see what market might offer first and then decide. So i’ll ask my first prospective what you might pay for a 2019 GT, 37.2K miles zero accidents never modded. New synthetic oil strictly every 3500 miles done by a “mega thorough” mechanic MBRP stainless exhaust. Launch mode used
-zero- times. Handwashed only. Car has been loved. Needs original tires replaced.
That’s it.

 

[Fredman]

If you’re serious you can PM me. If not, have a great weekend.

 

[SOCAL2.0]

I bought out my 2018 Stinger Premium. Got proper paperwork from Kia Finance then made an appointment with my local credit union. Paid $20,00 bottom line including all California taxes. Going through the credit union saved the inspection and disposition fee of $600 required by the dealer for the transaction. Not sure this is typical but it was for me. BTW. Kia finance was very helpful.

 

[CKeeler]

I bought out my 2018 Stinger Premium. Got proper paperwork from Kia Finance then made an appointment with my local credit union. Paid $20,00 bottom line including all California taxes. Going through the credit union saved the inspection and disposition fee of $600 required by the dealer for the transaction. Not sure this is typical but it was for me. BTW. Kia finance was very helpful.

Yup. The dealership fees were disgusting on my end as well. Never had that issue with Ford

 

[JSolo]

A friend has a bmx Xsomething. It was a lease. He had it appraised at carmax and the offer was more than the pay out.

Today he went in to work out the details. Turns out the lease was structured as a loan with $X monthly payments then a balloon payment at the end (if he wanted to buy it out). According to bmw there is a current $Y pay off amount. The title does not reflect lease, nor does carfax report.

I'm not familiar with leases one bit, never leased a car, never will. Is the above typical? What benefit would the bank (bmw NA) have in arranging it this way?

 

[CKeeler]

A friend has a bmx Xsomething. It was a lease. He had it appraised at carmax and the offer was more than the pay out.

Today he went in to work out the details. Turns out the lease was structured as a loan with $X monthly payments then a balloon payment at the end (if he wanted to buy it out). According to bmw there is a current $Y pay off amount. The title does not reflect lease, nor does carfax report.

I'm not familiar with leases one bit, never leased a car, never will. Is the above typical? What benefit would the bank (bmw NA) have in arranging it this way?

No. That is not typical. My Ford Red Carpet Lease I had on my ‘06 was straight and to the point. The buyout was exactly what it was on the paperwork. No extra dealer fees as the Kia dealership tried to push on me for my buyout. Every manufacturer seems to have their own way of doing end of lease buyout.

 

[Ric 'Ochet]

A friend has a bmx Xsomething. It was a lease. He had it appraised at carmax and the offer was more than the pay out.

Today he went in to work out the details. Turns out the lease was structured as a loan with $X monthly payments then a balloon payment at the end (if he wanted to buy it out). According to bmw there is a current $Y pay off amount. The title does not reflect lease, nor does carfax report.

I'm not familiar with leases one bit, never leased a car, never will. Is the above typical? What benefit would the bank (bmw NA) have in arranging it this way?

This is BMW finance for you. There are a few types of leases they offer, this is one of them to get the lower payment for the term.