Stinger Price Point Hardly Make Sense

[Paul Lindo]

I currently drive a 2013 Mercedes C300. I eventually wanted to upgrade to a 2018 Mercedes C43 (MSRP$72K). I've also looked at the Stinger Limited (MSRP $52K). Calculated lease payments on both vehicles for the same term (45 months). Factoring in all of the current manufacturers leasing incentives and interest rates (of which there were basically none for the Stinger), the monthly payments were within $1 of each other (the Mercedes residual was almost $20K more at end of term). I guess Mercedes really wants your business more than Kia does!!

Yup, the Stinger price looks reasonable upfront, but when you factor in the huge depreciation, the total cost of ownership make it a tough pill to swallow for me. Even if you finance, instead of lease, the low, expected resale value is something to be borne in mind

 

[Jonathan Lasich]

What I find funny is when people refer to brand snobbery regarding the high end German manufacturers!
The Mercedes dealer offered a $3.5K dealer discount on the car, and offered to waive the dealer prep and administration fees to sweeten the deal. Apart from the Benz, we also own a Sedona van, so we are current customers to both manufacturers. Mercedes offered a 1% reduction in their lease rates to keep us with them.

Kia-- when asked about the possibility of a dealer discount on the car, the salesman looked at me in the eye and said " You should count your blessings that we are selling you the vehicle at MSRP and not anything above that!" REALLY!!!
No incentives and no rate reductions from Kia, and the only thing the dealer waived was bye-bye as I left!!

 

[Paul Lindo]

I k

What I find funny is when people refer to brand snobbery regarding the high end German manufacturers!
The Mercedes dealer offered a $3.5K dealer discount on the car, and offered to waive the dealer prep and administration fees to sweeten the deal. Apart from the Benz, we also own a Sedona van, so we are current customers to both manufacturers. Mercedes offered a 1% reduction in their lease rates to keep us with them.

Kia-- when asked about the possibility of a dealer discount on the car, the salesman looked at me in the eye and said " You should count your blessings that we are selling you the vehicle at MSRP and not anything above that!" REALLY!!!
No incentives and no rate reductions from Kia, and the only thing the dealer waived was bye-bye as I left!!

I know exactly what you mean. My BMW dealer, not only service my car for free, (as they do all BMWs for the first 3 years) they will pick up my car at work, and take it back at the end of the day. I'm almost at the end of my lease, and my cost, other than my lease payments and petrol, has been zero. The Stinger was of great interest to me, until I found out it will cost me more than my 340 X-drive with M performance power kit and exhaust. No thanks, maybe in a couple years I'll get one that's 2 years old for cheap

 

[Jonathan Lasich]

I k


I know exactly what you mean. My BMW dealer, not only service my car for free, (as they do all BMWs for the first 3 years) they will pick up my car at work, and take it back at the end of the day. I'm almost at the end of my lease, and my cost, other than my lease payments and petrol, has been zero. The Stinger was of great interest to me, until I found out it will cost me more than my 340 X-drive with M performance power kit and exhaust. No thanks, maybe in a couple years I'll get one that's 2 years old for cheap

I'm looking at the Stinger and I'm thinking, OK, I'll need to get a slightly louder aftermarket exhaust (too quiet for me), and I'll need to get a set of Eibach springs (to get rid of the skittishness in bumpy high speed turns which was apparent during my test drive). The AMG---needs NOTHING!!

And the salt in the wound that I forgot to mention was that Mercedes offered me what I currently owed on the C300 (almost 2 years of payments and zero down at the time of purchase). The Kia dealer offered me $5K less!! Lord, I think that Kia and their sales people regard the Stinger as Jesus Christ's personal chariot!!

 

[StungBlueGT2]

I'm looking at the Stinger and I'm thinking, OK, I'll need to get a slightly louder aftermarket exhaust (too quiet for me), and I'll need to get a set of Eibach springs (to get rid of the skittishness in bumpy high speed turns which was apparent during my test drive). The AMG---needs NOTHING!!

And the salt in the wound that I forgot to mention was that Mercedes offered me what I currently owed on the C300 (almost 2 years of payments and zero down at the time of purchase). The Kia dealer offered me $5K less!! Lord, I think that Kia and their sales people regard the Stinger as Jesus Christ's personal chariot!!

You both officially made me start feeling sorry for Canada! But then I realized it’s just Kia’s marketing for different countries. Canadians get a huge advantage buying(more features less MSRP vs USA), but more people lease in the USA so each side wins.

Unfortunately yes, you may have to spend a little more for exhaust(suggest $465 NGM Zeta) since Canadians didn’t get the aggressive US spec exhaust, but just get the adjustable(Sport mode=tight & planted, or Comfort=smooth as glass) GT2 style suspension instead of the aftermarket Eibach...

However, the AMG needs a lot to try to equally compare to our Stingers! Real, adult size, rear seats; 40ft+ cargo capacity; smooth non jarring ride, uniqueness, and a $20k rebate(if buying)

But I agree Kia dealers treat them like gold because honestly Stingers are a diamond in the rough and they are trying their best to take advantage.

Finally, I wanted an S5 SB, 440i GC, or the C43, but the Stinger was roomier and the closest mix of all 3 in performance at 25% less money(here in the states at least). No comparison really and so sorry Canadians cant also get that advantage when leasing.

 

[phxgt]

I currently drive a 2013 Mercedes C300. I eventually wanted to upgrade to a 2018 Mercedes C43 (MSRP$72K). I've also looked at the Stinger Limited (MSRP $52K). Calculated lease payments on both vehicles for the same term (45 months). Factoring in all of the current manufacturers leasing incentives and interest rates (of which there were basically none for the Stinger), the monthly payments were within $1 of each other (the Mercedes residual was almost $20K more at end of term). I guess Mercedes really wants your business more than Kia does!!

Forgive ne as I have never leased so perhaps an not completely comprehending... But shouldn't the Merc residual be about $20k higher if it starts $20k higher and you're making the same payments? Granted the Kia is losing a larger percentage of initial price over three years but the drop is the same amount. If the payments are the same between those two vehicles pick the one you want more. If you may consider purchasing the vehicle at the end of the lease you don't want the high residual.
Bottom line is both cars are depreciating about the same amount.

 

[Paul Lindo]

Forgive ne as I have never leased so perhaps an not completely comprehending... But shouldn't the Merc residual be about $20k higher if it starts $20k higher and you're making the same payments? Granted the Kia is losing a larger percentage of initial price over three years but the drop is the same amount. If the payments are the same between those two vehicles pick the one you want more. If you may consider purchasing the vehicle at the end of the lease you don't want the high residual.
Bottom line is both cars are depreciating about the same amount.

Depreciation is about percentage, not dollar amount. If we follow your logic, in a few more years, when the Mercedes value drops to 20 grand, the KIA would be zero. Bottom line is, if the depreciation was similar, the lease payment on the Stinger should be a lot cheaper than a car that is 20 grand dearer. This does not mean that the Stinger is not worth buying, it just means that the price advantage that the Stinger appears to have is not as it seams, when you factoring total cost of ownership

 

[phxgt]

Depreciation is about percentage, not dollar amount. If we follow your logic, in a few more years, when the Mercedes value drops to 20 grand, the KIA would be zero. Bottom line is, if the depreciation was similar, the lease payment on the Stinger should be a lot cheaper than a car that is 20 grand dearer. This does not mean that the Stinger is not worth buying, it just means that the price advantage that the Stinger appears to have is not as it seams, when you factoring total cost of ownership

I will continue with my logic.... Total cost of ownership on the two is exactly the same for the term of the lease. So as I stated in this case lease the one you like better. The difference between the sale price and residual is what the lease pays for. So yes, if the Kia held the same percentage the lease would be lower. Problem at this point is that it is based on historical Kia values not Stinger value. If you were purchasing the Merc it's a still much higher total cost of ownership.... Higher initial price and higher (more than likely) cost of maintenance.

 

[StungBlueGT2]

Depreciation is about percentage, not dollar amount. If we follow your logic, in a few more years, when the Mercedes value drops to 20 grand, the KIA would be zero. Bottom line is, if the depreciation was similar, the lease payment on the Stinger should be a lot cheaper than a car that is 20 grand dearer. This does not mean that the Stinger is not worth buying, it just means that the price advantage that the Stinger appears to have is not as it seams, when you factoring total cost of ownership

I’m just unclear where you’re finding such a large difference in depreciation.A 2018 Stinger GTs 36m residual is 54% and the C43 is only 58%. That’s really not that much and I’ll put money on it they depreciate almost the same % in 4-5yrs. KMF is simply basing residual values on current Kia cars, not a sought after unique model like the Stinger...

The real factor on why Stingers lease payments are worse is the dramatically higher money factors(APR%). Benz is willing to take a hit on financing profits by consistently selling higher quantities over many years, while Kia is trying to offset 1st year losses with some long term profits. It’s just each manufacturer adjusting their balance sheets and all these factors will change in a few years...

At least for now it seems like the price advantage of buying a Stinger in Canada makes it a complete steal! While leasing(or lease with immediate buyout) in the USA has the most advantages.

Hope this helps dispel some of your depreciation concerns, and hope a better deal comes along so you too can enjoy what a unique experience it is to be a Stinger owner.

 

[Paul Lindo]

I’m just unclear where you’re finding such a large difference in depreciation.A 2018 Stinger GTs 36m residual is 54% and the C43 is only 58%. That’s really not that much and I’ll put money on it they depreciate almost the same % in 4-5yrs. KMF is simply basing residual values on current Kia cars, not a sought after unique model like the Stinger...

The real factor on why Stingers lease payments are worse is the dramatically higher money factors(APR%). Benz is willing to take a hit on financing profits by consistently selling higher quantities over many years, while Kia is trying to offset 1st year losses with some long term profits. It’s just each manufacturer adjusting their balance sheets and all these factors will change in a few years...

At least for now it seems like the price advantage of buying a Stinger in Canada makes it a complete steal! While leasing(or lease with immediate buyout) in the USA has the most advantages.

Hope this helps dispel some of your depreciation concerns, and hope a better deal comes along so you too can enjoy what a unique experience it is to be a Stinger owner.

I change cars too frequently to buy, I definitely will lease. I'm strongly considering the Genesis G70. Surprisingly, G70 3.3T Sport loaded, lease payments are very similar to the Stinger. I prefer the exterior of the Stinger, but the G70 interior looks really nice, and I really don't need the extra space of the Stinger.