what to check on a lease buyout

[Doel]

I know there's a thread on this, but there's so many comments and I couldn't find exactly what I was looking for when skimming it. I'm looking to do the lease/buyout on a stinger this week and I just wanted to check and make sure I know what to look for to make sure there aren't any markups added on.

Gross capitalized cost: the price of the car I negotiate the car down to plus all fees
Capitalized cost reduction: the lease rebate
Adjusted Capitalized Cost: the negotiated price minus the rebate
Residual value: Not important for lease buy out
Depreciation: Not important for lease buy out
Rent charge: Not important for lease buy out
Anything about the monthly payment: Not important for lease buy out

When looking at itemization of gross capitalized cost
Negotiated price of vehicle: agreed amount
sales tax
license, title fees: based on local fees, set amount?
outstanding lease balance: none
Dealer documentation/service: How much should this be, 700ish?
Optional vehicle contract: none
Optional wear: none
Acquisition fee: How much should this be? Am I correct that this is the only "Extra" fee you're going to have to pay to do the lease buyout over just a regular purchase, aside from the bit of "rent" you pay in the first monthly payment?

Thanks!

 

[RockTrooper]

Interested in this as well.

 

[Audible Silence]

All these terms to confuse the customer. It's like listening to a lawyer.

 

[twig2121]

I was surprised to find out that PA is one of the few states where you have to do payoff at a dealer to the point where Kia Finance won't even give you the payoff amount. Unfortunately dealers being what they are, some won't even talk to me about doing a payoff, at least one says they charge a $500 "processing fee" for the payoff. I'm talking to some that don't seem to charge the processing fee for payoff...we'll see in the next couple weeks when I do the deed. One won't tell me #s until I come in to the dealer for privacy reasons. What a mess. Fix your dealers Kia!

It especially bothers me when Kia Finance says I must do payoff at a PA dealer and that ANY dealer should do it, yet some dealers so "no" or don't even return my call.

 

[Mnext02]

Dealer told me today you have to make 6 payments before you can payoff??

 

[sds144]

Twig, let me know what you find out . I'm also in pa and I'd like to do a lease buyout but if there are too many hoops to jump through , I might reconsider

 

[Doel]

I decided to not do the lease buyout, for me the conquest discount and finance incentives actually gave me a lower price. The only way the lease buyout is going to be cheaper for anyone right now is if they don't need to finance any or much of the car, or if they have outside financing around 0-1%, or if they can't get the loyalty or conquest discount.

These are my numbers on a GT1, these interest rates require an excellent credit score
Selling price $40,340
Dealer service charge: $599
Tax: $1,630
Money down: $5,000

With the conquest rebate and finance incentive
-$3,000 Conquest Rebate
Financing $34,569 @ 0% APR for 66 months
All in price of $39,569 /w a $524 monthly payment

With the lease buyout and the best outside financing I could find
$-6,000 Lease Rebate
$+700 for acquisition fee and "rental charge" for first month
Financing $32,269 @ 2.75% APR for 63 months
All in price of $39,713 /w a $551 monthly payment

Prices are really close but just doing the financing saves a little money, lower payment, and far less hassle. If you can put down more than $10,000 the lease buyout will start to look more attractive. If you can buy the car outright without financing, the lease buyout will save you around $2,300 on a GT1.