How To Perform a "Lease then Buyout" on a Kia Stinger - 18k off MSRP!
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- Опубликовано: 25 мар 2020
- In today's video I go through step by step on how to perform the coveted "Lease then buyout" to get insane prices on a brand new Kia Stinger GT. I take you from finding out what you should pay for your new car, how to find out the rebates, money factors, and residuals. Even going through what to look out for with online pricing, how to negotiate with the dealer, and finally performing the buyout from Kia Motor Finance. It's a long video, but a lot of good information!
If it's your first time stopping by, be sure to subscribe! More to come on the Stinger GT and my SRT4. Leave a like if you did and thanks for watching!
Step 1: Have good credit. 1:44
Step 2: Do your research 2:32
Step 3: Find your Stinger 9:15
Step 4: Negotiate your price 15:55
Step 5: Buy your Stinger 24:58
Step 6: Complete the buyout 29:02
Step 7: SUBSCRIBE!
Here are the links to the sites I mentioned in the video:
This is where you can ask for current lease rebates, residuals, and money factors:
forums.edmunds.com/discussion...
This is where you can find out what the invoice price and average price paid of the Stinger you choose:
www.edmunds.com/kia/stinger/b...
This is a link to the forums with tons of information on how to perform this buyout and stories from others who have:
stingerforum.org/forums/how-t...
This is a link to the Kia Motor Finance website when you have your account setup. Click the "Payments Tab, then "Get a Buyout Quote"
Here is a link to view a window sticker, just enter your vin after the last forward slash:
www.kia.com/us/services/en/wi...
#kiastinger #leasebuyout #quixilver09 
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EDIT: This video may be outdated by the time you watch it. Do your due diligence and research to see if similar offers are still available.
instaBlaster.
Step 1: have good credit
Me: iight I'm a head out
🤣
yooooo me 😂😂😂 i got no credit but recently got a huge check that can definitely pay lil over half the car NEW and also got a stable job . but i dont wanna put half or all my money on a down .
Liked and subbed. This video was very informational ! Solid gold. I am well into my my research on the stinger and have to admit you've given me another avenue to explore! Plus I'm in FL too so a lot of what you said I'm hopeful applies directly to me! Thank you again for sharing the knowledge.
What a win, well done man!
Another great video full of info thank you.
Super informative video! I was really shocked when I saw local businesses in the background and NOW I recognize who you are! :)) You helped me at a Central Florida car dealership a few years back and even enlightened me on smart home technology. You teach very well. I may contact you soon to get more info on making a Stinger of a deal!
What a small world we live in! I remember you as well email me at quix09@gmail.com if you have any questions!
You sir read my mind!
Thanks for sharing
You have a new Sub 😁
Great video buddy👍
Excellent video that provides great info that more people need to be aware of. I bought a MY19 Ceramic Silver GT2 AWD in Feb 2019 for around $44k (inluding tax) using this method. That was with $5k off MSRP and $8200 lease cash. I could have improved my outcome in two ways. 1. Ask the dealer to remove the unnecessary addons (mine had a cargo net, floor mats and bumper applique which were over $300) and 2. know your credit score and make sure they're giving you the correct money factor on the lease. I have excellent credit but I didn't realize that themoney factor I was paying was one level below (higher rate) than it should have been. This wasn't a very expensive mistake because I only paid that money for the month before the lease buyout, but it still bothered me. Also, to find a dealer that will give you the best dealer discount off MSRP, find out which dealer near you deals in the highest volume (sells the most cars). In my experience, they will be the most likely to give you the biggest discount.
Thanks and congrats!
Great Video !
Thanks for your video. Used it to get them to buyout my lease and ultimately got 12k off msrp!
Heck yea!
Knowing my dumbass I would never be able to do this I would want someone that knows how to do it to help me out like holding my hand and showing me every single step but honestly this video helped me alot understanding
I think that's why you want to just stick to emailing them. I'm not the brightest guy either, but I think if you just focus on watching this video and going through each step you can pull it off.
Great Video
Well I guess that's the next step as far as leasing goes. Thanks for the reply.
Oh funny thing,,gave this video to my sales rep to confirm it and I never heard back from him lol.
Most sales reps won't know about it.
"This guy wants some." :D I skipped to the end, brother. Did the buyout at three months, and saved over $5K in lease rent costs. I was a complete noob, both at new car buying, ergo leasing. It turned out well enough; especially since I got to skip all the financing at a credit union to get the loan to do the buyout. We paid cash; bit the bullet and took the buyout amount out of our savings. Why didn't we pay cash up front? The lease incentive tempted me, and my ignorance made me weak. :D Next time, I will negotiate on buying with cash and skip the lease altogether; knowing that lease rent is only for those who want a brand new car every two to four years. I plan on keeping my GT1 for years beyond that. Originally, I had some doubt about that: wondered if at the end of the 36 month lease, the 2021 Stinger might be more cool than my 2018. I decided no, I like this car well enough to hang onto it for a long time.
I like your style. You are very articulate, knowledgeable and relaxed. Good video, sir!
Appreciate the comment sir! I hope you stick around to see my other videos! I have a lot more detailed videos on leasing/buying if you look back at my "car buying advice" playlist too.
Never tried to buy a car for cash you won't get a good deal at all. The dealerships make most of their money on the financing.
@@PlumbNutz that's why you want to have good credit and history that frees up so much you just go to a credit union see what you can get don't run your credit just see if you can get some info by talking and explaining what your credit is like see if they'll give a quote then you can keep that in mind like ok they're willing to loan me this much with this interest rate now you can go play around with the dealers and get tou some deals
Great video with lot of info..thank god I didn’t how an buy the stinger gt2 for 45k last ur...
I was getting "Florida" vibes from the drive and thought the Southwest coast (maybe Tamiami Trail) around where my mom livaes lol. I'm from out of state, so i'm not too familiar. Thanks for the informative video as my wife and I are considering leasing a new car. We have 2 old cars that run well, but as our kids are getting bigger, the Stinger would do the job. I'll be saving this for reference!
Middle of the state! If you are actually just considering leasing and not the "lease then buyout" check out my other videos on "what you don't know about leasing".
@@quixilver09 subbed!
exactly what I did with my stinger, ended up in the room with the sales manger and manger of my location.
Me too. Sometimes you gotta cut out the middle man.
I’m looking to get a 2018 GT2 ? But I have no idea about the financial Car buying world. Your video helps but could you help me by giving me like a step by step on what to do ?
Great Video !!
I’m in KY and am considering this. I’ve read on some forums that for some states, people are essentially paying full taxes twice. If anyone has a list of states or can confirm the situation for KY that would be great.
2020 Kia stinger Gt1 had it for a month,and it only has 200 miles on it,I'm sick of having to watch my mileage. I only get 10k a year. I need to try this,because this car is cool ASF!
You can do it I make less and have my dream car just manage your money right
Wow such what a great explanation awesome job, Subscribed now! Im curious did you use Suncoast as your credit union?
I live in Florida too in Fort Myers and on the hunt for the best deal I can find on a Stinger. What dealerships did you end up doing business with?
Suncoast is great, but I have Midflorida as a bank already so I just went with them. I'll probably refi with Suncoast next year. Whatever you do, don't go to Gettel.
You should make a video of your experience where your adjusted cap cost wasn't what you agreed on before and what happened
I might if they still don't come through on a promise.
Dude great video, let me get this straight, I just leased a gt1 $45ish and residue was $19ish 36 mo,credit score...excellent.So I can go to my credit union and buy out my $19g contract,and not have to turn my car back in?if so that's crazy!
No, residual value is different. That's what would you'd owe if you bought it after your lease is up. You can buy it for your adjusted cap cost. Which was probably closer to the $45 number. Look in your paperwork.
Thanks for the video!!
Im in FL too, question is, if i lease out of state and bring the car back to FL, would anything change?
Also, does this lease then quick buyout, work on all Kia vehicles? what about Hyundai's?
Thanks again!!!
Sorry I didn't see this comment for some reason. I'm not 100% sure on how that would work, but I assume if you bought the car out of state that you would be safe. I don't know if Hyundai's work the same. I've only heard of this on Kia's.
very useful info. is this strategy possible for any new model car (assuming lease incentives are good)?
Sorry for the late reply I never got the notification. As far as I know, Kia Motor Finance is the only company doing it.
This is such a sneaky move, you should get paid for letting this information out!! I mean, outside of the RUclips revenue
Haha thanks! If only that RUclips revenue was substantial. Maybe one day! Appreciate the compliment.
hey does anybody know why on Edmunds the 2020 stinger does not have the option for the silver?
thx dad, now i can fish !!
😂 Good luck son.
I am looking for a Stinger GT2 as well. Finding it hard for Orlando dealers not wanting to give price over email with their discounts. Want me to come in to negotiate the deal. Then to find one of the larger dealers have addons totaling $1200 that they do not discount, along with the $1000 dealer fee. Even if the "addons"(Window tint, mudflaps, pinstripes) aren't on the car, they told me it is still added to the price. Crazy.
Yea I probably called the same dealer. Orlando dealers are trash. Just expand that search buddy.
@@quixilver09 Yeah. I think I found one. At first they only knocked off about $5200 from the MSRP. They tried to fudge the MF, but I showed them what I was expecting and asked about the $5700 in lease cash. They came back with about 13k off MSRP with the correct MF and my payment is 507 for a 48/12. Pick it up on Tuesday. I used TrueCar, the edmunds link you shared and I found Leasehackr has a calculator that keeps those sales guys honest. Thanks for the help. Can't wait to see the mods
ruclips.net/video/TyBFFEyKn3U/видео.html
ruclips.net/video/GFeLQ-8MxjA/видео.html
How do you know if this is still a thing in 2021. Like how do you research if the buyout option is still available and Kia hasn’t gotten rid of it
Definitely isn’t a thing right now. This video did not age well. The market is insane because of lack of inventory.
I looked at these when they first came out. Vegas dealers wanted $5k over sticker. Told them to pound sand an bought a new Fusion Sport instead. 325HP / 385TQ and AWD. I paid about $2k less than what you paid for this for a Lightning Blue one with every option. Ended up trading it in for a new diesel F150 after 2 years. The aftermarket never really embraced the Fusion Sport. I missed having a turbo car though, so I just picked up my '08 Caliber SRT. BTW, high flow catted DP's seem to do wonders for the Stinger, even with the stock exhaust.
Nice! Did you first come here for the Stinger or my Neon?
@@quixilver09 Neon. I've commented on a few of your vids. I was originally looking for a NSRT but I kinda prefer the look of the Caliber. Just happened to come across one while looking for a Neon.
I am slightly confused. If you are paying for the adjusted cap cost when you do the buyout, what happens to the money that you paid during the lease? I thought it would go towards the car (I don't really know much about leasing).
It would. That would be factored in. This is based off doing the buyout right away. There's literally no point in waiting.
@@quixilver09 ohhhhhh okay, I didn't know that that was even possible. I guess I misunderstood the whole point of the video haha. I'm planning on getting one next year before the summer starts so I'll rewatch this again then.
Had quite a few dealerships explain to me I was getting 10,000 off I’m lease deal...But when I added up all the months and I looked at the buy out at the end came out to the same number do your math people
If you do the buyout, you don't pay the payments in your lease term with Kia. That's the whole advantage of this tactic.
Link you've posted to check sticker price by VIN if not working. Any alternatives?
Did you copy and paste your Vin in?
It worked for me, but I had to manually type it in my browser
I get the method and have browsed stingerforums but I have a question, I have 0 credit history but have 30k to put down immediately. If I have a cosigner with good credit would this method still work?
It's possible. You'll honestly just have to try. There's so many factors that the bank looks at. You'll also need to cosigner for both the lease and the buyout most likely.
You think I can get a loan for around 37k? It's my first new car I'll be paying myself. I have good credit but will I get approved Ata credit union?
That'll be tough. Will depend on money down, income, and credit history.
Get a cosigner
quiXilver09 I've cosigned and paid off my last car, income is decent but not a lot. I can probabaly out down around 8k.
Yes good info but if you buy out the lease ( cap cost) then you will pay full taxes on that amount. The whole point of leasing is to not pay taxes on the full amount of the vehicle. Here in Arizona it is almost 9%.
If you got $12,000 on rebates (leasing) instead of $4,000 (buying outright) then yes this method works if you wanted to buy the car to begin with, because youre going in knowing you are laying sales tax.
I may have found a good deal coming up for the lease buyout. Did you pay anything down when you originally signed off for the lease? I’m thinking of just putting down $2,000 to cover the fees, taxes, etc
Nope cause it doesn't matter. Either way though. Put it down when you buy it out or when you lease it.
How would you do this if you’re looking for used? in the market for a used 2019 gt2 awd, the only things I care about is remote start and any color but white or blue, preferably panthera metal 😍 but black, ceramic silver, or red are all fair game too looking for sub $35K, I’m aware that’s a reach
You can't lease used, so you can't.
Um yes you can.... Its a 2018-19 so it should be CPO.. Certified pre-owned, as long as its under like 48 or 50k miles...
Yea I know but I really didn't want to get in to the details. Rebates will be different or non-existent.
@@quixilver09 then tell him that, your viewers appreciate whatever detail you give them... You give good advice even if its not what they wanna hear 👍🏽
Hey does this work for Toyota’s too ? I am getting a stinger for myself but my family also needs a Highlander do you have any idea ?
I don't know. You'd have to call Toyota finance and see how their buyout works.
Thanks for the information, I had 1 last question that I don’t get about this process , the amount due on signing which is around 3k is that counted towards the cap so I am paying the cap _3000 or am I paying 3k then paying the cap ?
Whatever you put down usually includes the first payment, any acquisition fees, security deposits, etc. Unless otherwise stated by the deal you made. Some people "roll them in" to the lease payment, but that makes your payment higher. None of those affect cap cost.
I don't know about 2021s since I can barely get $5000 in rebates TOTAL which I'm assuming is the adjusted CapCost? So I haven't tried the Lease Option yet but I really doubt I will get anymore than my $5000 off my Invoice which on a GT2 for 2021 is about $50k. So where does leasing effect More debates cause Im lost here. Seems like if I do finance or cash on Capcosts its all the same discount and No way anywhere even close to 15K but it's not a year end closeout either.
Rebates should be different between a lease and buy. Have you asked on the Edmunds forums what the lease rebates are? And yes, it's also a current model year so the rebates might not be as high.
Good video sir. Would this work on the Telluride?
No reason it shouldn't, I'm about to be looking in to doing this very thing soon.
@@quixilver09 oh nice. You might be doing it before me so maybe I can see how that goes. Which trim are you thinking about?
I have this thing about getting the highest trim lol. Wolf Grey SX Nitefall edition.
@@quixilver09 perfect because that is the one I was looking at with the prestige package. So definitely going to wait and see how that works out.
Yea that too lol
Still work for dodge ? What happened to the hellcat ?
Career change. This video explains it all. ruclips.net/video/hMLXYtHOCys/видео.html
Is Kia still contacting people within the first month and offering the buyout? Trying to avoid paying the 2 year lease before buying out.
I did not know Kia was contacting people.
@@quixilver09 I must have misunderstood, I thought they contacted you about a lease buyout. Once Kia has you registered you contact them to buy out your lease?
Yes the latter. You call them.
So why do a buyout right after starting a lease because I’m thinking of leasing a gt1 right now what’s the point of buying it out right away. Instead of waiting until end of lease.
Its is basically just a hack to get a way higher discount because you'll lease it but then you just get your own loan and they buy it out and basically you financed it but instead of getting the shit end of the stick you play the system you gotta think 17k off of a brand new 50k car on top of the amount off MSRP that's OP
What Jamal said. Basically there was only 4k of rebates to buy it normally or almost 12k in rebates to lease it so you "lease it" then just buy it out. You get more money off.
@@quixilver09 ok and buying it out skips the lease fee they charge I guess everypayment? For a lease?
Yea, the money factor and residual value is pretty crappy. Not worth the lease payment. Buying was a better option with a low interest rate.
@@quixilver09 thank you for the help I'm not sure I can get such a large loan even with a credit score around 700 ugg it's very hard now with covid.
Does this still work as of now? Or is it better to buy on labor day/independence day?
In this market, it doesn't seem like this is happening any more.
@@quixilver09 true. It isnt happening to stinger.
Do you think this works with genesis g70/g80?
I’m still going to try my luck on monday😆.
I cant decide between stinger and these two beautiful cars.
I don't think it's going to work on any car on the market right now. Just a supply and demand thing.
Link for the vin number in your description is invalid
You need to put the VIN at the end of the web address I posted.
@@quixilver09 yeah it said page not found
@@quixilver09 nevermind I found it lol reading is fundamental
I'm glad you read 😂
@@quixilver09 🤣 and the Stinger I was looking at is a AWD 2018 GT2 used stinger will this work for a used Stinger? If not I see a 2021 GT2 Stinger near me at a dealership and they have the rebate on their website. The MSRP is 50,155 the rebate was $2500 so now it drop to 47,655
Just tried to view the window sticker link you posted and the Kia site said it wasn't valid.
Did you put the VIN you are interested in at the end of the link?
@@quixilver09 i did not because I couldn't find the link but it is KNAE55LCXM6091417
www.kia.com/us/services/en/windowsticker/load/KNAE55LCXM6091417
You said you tried to view the link and Kia said it wasn't valid. It's because you need to click the link, then go to the link and paste or type in the VIN number at the end then hit enter.
@@quixilver09 i must have done something wrong or maybe something on my work computer didn't like about the link. I'll try it at home. I appreciate it. I think I gave you the wrong VIN too! I had 3 window stickers with 2 of them being the exact same cars and price.
I need to know where you live man because I just tried that shit and the dealers in my geographic area are just not budging at all on any discounts off MSRP. Most of them completely ignore my comments or questions about lease cash when I bring it up, like they don't know what I'm talking about. Is this common? Why are car dealers so damn difficult? FUCK EM (Well, not you lol)
Dealers do suck ass man. It depends on where you are. If there isn't much competition, they can do whatever they want. Just gonna have to travel. I'm in FL. Plenty of dealers.
Is this strategy still applicable? And will it in 6 months from now? Or it was a thing and now it's over?
I mean I can't predict the future, but as of right now it's still good. Just double check the forums before you do it.
@@quixilver09 thanks bro
@@quixilver09 i went to the dealer and the lease cash is 7200....my concern is if i did it and paid like 2 or 3 lease payment until i get the loan for buyout...the lease payments that were paid are they wasted in the air or they will be subtracted from the buyout amount? Is the buy amount a fixed number from the beginning that doesn't go down?
All lease payments will make your buyout go down. The only thing you "lose" is having to pay interest for those months you are making payments.
@@quixilver09 yaa i know a bout the interest thing what why should be done right away but just wanted to make sure the rest of the payment is not a waste if it took me time to get a nice loan
Can you do this in Canada?
Honestly, not sure.
@@quixilver09 Idk if I could pull it off with my credit tbh, still about to just graduate and have only worked side jobs.
Doesn't sound like it. You need some kind of car credit history to get a lease 99% of the time. Especially for a $40k+ car.
has the noises quality control improved? i have been told that in earlier models a lot poor quality knobs and controls, also much noise sounds throughout the interior........rattles and squeaks.......
Previous models? like...Kia in general? Cause outside of a trunk rattle that some people have encountered, the buttons, and knobs and overall interior quality is really nice.
@@quixilver09 THANK YOU
Can this still be done???
As far as I know yes. Just check the Stinger forums.
So the buy out will be much higher if you pay it off immediately
Sorry man but you don't understand the difference with Kia finance, unlike everyone else, they let you buy it at the adjusted cap cost. No one else does this to my knowledge. Not sure for how long either.
@@quixilver09 i doubt that very much. why would they let me buy my new lease car for 25k when its worth 10-15 k more today.
That's residual value, not cap cost.
@@quixilver09 what do other car manufacturer finance arms do differently? Is the difference they let you buy out with all remaining payments plus residual value minus the remaining rent charge you did not “rent”?
I like your videos. Just bought a Stinger. But FYI you touch your face way too often; it’s distracting.
Wow already a thumbs down, there’s a hater out there
Yep, always get like 1 thumbs down lol
Is this still relevant in May 2021?
Doesn't seem to be the case with the crazy market right now.
@@quixilver09 Crazy in what sense? :) Evenody wants a kia now?
Well, there's an inventory shortage driving up prices all across the country. I've seen most car lots pretty barren lately and a lot of people aren't coming off MSRP.
Where the hell are you driving
what you are discussing is not worth it. If you live in a state with no sales tax then maybe but other wise all that work is not worth it. I leased it for a fair price and there is no way that your coming out that far ahead. The whole point of a lease is to not pay full taxes/registration and to be able to turn the car in at the end for a new vehicle. Period.
I think you misunderstood the point. This is for people that want to actually buy the car, not lease it at all. You just use the lease to get more rebates upfront to purchase the vehicle at a lesser cost overall. You're comparing leasing to buying and that's a whole separate conversation.