Post purchase price details here (US $ only)

[AG13]

He is probably reading this form. I showed up with a WRITTEN internet quote to a dealership for mine - that the dealership wouldn't honor---till I walked out & started my car---

Lol I had that thought too, but who knows. I'm working with another dealer, so there is still hope.

 

[pulsar]

Whatever dealer has the car you want, any chance you could go get it? Plenty of folks here have bought out of state. Do a deal online with them for paperwork and go pick up in person. Some have shipped their cars but buying site unseen would scare me.

 

[AG13]

Whatever dealer has the car you want, any chance you could go get it? Plenty of folks here have bought out of state. Do a deal online with them for paperwork and go pick up in person. Some have shipped their cars but buying site unseen would scare me.

I considered this but the car is in Oklahoma, and another is in Louisiana, and I don't know how leases work if the car is out of state. I called the OK dealer a few days ago and they said they can't lease out of state.

 

[KusaKusa]

I had a similar situation where I wanted to use Circle A to get a dealer trade, but they said they wouldn't accept Circle A for a trade. It's probably just not worth the effort in their opinion. You'll probably have to visit those dealers directly.

 

[AG13]

Whatever dealer has the car you want, any chance you could go get it? Plenty of folks here have bought out of state. Do a deal online with them for paperwork and go pick up in person. Some have shipped their cars but buying site unseen would scare me.

I had a similar situation where I wanted to use Circle A to get a dealer trade, but they said they wouldn't accept Circle A for a trade. It's probably just not worth the effort in their opinion. You'll probably have to visit those dealers directly.

Yeah, that also crossed my mind, but buying would mean I lose the lease cash, which would make my OTD price around $50-51k. Not worth it at this time in my opinion, considering the deals I've seen people here get.

 

[PJR]

Yeah, that also crossed my mind, but buying would mean I lose the lease cash, which would make my OTD price around $50-51k. Not worth it at this time in my opinion, considering the deals I've seen people here get.

They're paying a retiree $15/hr to drive the car for the swap. Maybe offer them $200 to cover their costs and hassle.

 

[therican]

Well incentives went tits up, guess I'll buy the stinger

 

[Chad86tsi]

Well incentives went tits up, guess I'll buy the stinger

check back in a few days, the last set of incentives just expired last night and sometimes the new details are out a few days late. It's a bad system no doubt, but they always repopulate for those that wait.

 

[Legger88]

Well incentives went tits up, guess I'll buy the stinger

therican,

Where are you located? I am picking up a G70 this weekend and looking to sell my Stinger GT2 if you are interested?

2020 Stinger GT2 3.3TT AWD
Miles: 3500
Ceramic Silver
Red Napa Interior

I'm going to AK to pick up the G70 and driving back to Colorado

 

[Legger88]

To all on this page:

Buying a G70 this weekend. Doing the balloon payment to get the 6500 in incentives and the dealer has a nice discount on it as it is a 2020 2.0t Sport 6-speed.

That being said does anyone know the fine details of how the balloon payment breakdown math is?

I was explained it works similar to a lease and you can buy out at anytime...
I have sales price, discounts, dealer fee, lump sum balance/residule and rate. However the math doesn't work out to the number they gave?
Can anyone explain if there are hidden fees in balloon payments or provide insight on this matter, all advice and help is greatly appreciated.

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[pulsar]

To all on this page:

Buying a G70 this weekend. Doing the balloon payment to get the 6500 in incentives and the dealer has a nice discount on it as it is a 2020 2.0t Sport 6-speed.

That being said does anyone know the fine details of how the balloon payment breakdown math is?

I was explained it works similar to a lease and you can buy out at anytime...
I have sales price, discounts, dealer fee, lump sum balance/residule and rate. However the math doesn't work out to the number they gave?
Can anyone explain if there are hidden fees in balloon payments or provide insight on this matter, all advice and help is greatly appreciated.

I didn’t have extra fees. I paid circle A price minus all incentives plus TTL and Texas VIT and thats it. I paid upfront for all TTL and VIT and financed the balance from Genesis. There was a monthly payment schedule given. After several weeks I called Genesis to get payoff amount. It was the amount financed plus a very small 30 day finance charge. If numbers don’t all add up get the dealer to explain. Should be no funny business by the dealer and be straight forward.

 

[Legger88]

I didn’t have extra fees. I paid circle A price minus all incentives plus TTL and Texas VIT and thats it. I paid upfront for all TTL and VIT and financed the balance from Genesis. There was a monthly payment schedule given. After several weeks I called Genesis to get payoff amount. It was the amount financed plus a very small 30 day finance charge. If numbers don’t all add up get the dealer to explain. Should be no funny business by the dealer and be straight forward.

Pulsar:

Thank you for the reply, I'm doing this all out of state so that may be the difference is taxes. However it was explained that since AK is a non tittle holding state or something of that nature I will pay all taxes and titling once I register the car in Colorado.

Here is what I have:

MSRP: $39,495.00
Sell Price: $31,166.00 (with all discounts and rebates)
Service & Handling Fee: $650.00

Out the door: 31,816.00
Rate: 2.29%
Down Payment $3,000.00
Residual/lump sum @ 36 months $18,167.00

Payment: $351.00 a month

My math shows $31,816.00 minus residual/lump sum $18,167.00 equals $13,649.00
Take out $3,000.00 down
Finance amount is $10,649.00
$10,649.00 over 36 months @ 2.29% is $306.36 monthly...

Just trying to make sure I am seeing this right?

 

[Jlapaglia]

Pulsar:

Thank you for the reply, I'm doing this all out of state so that may be the difference is taxes. However it was explained that since AK is a non tittle holding state or something of that nature I will pay all taxes and titling once I register the car in Colorado.

Here is what I have:

MSRP: $39,495.00
Sell Price: $31,166.00 (with all discounts and rebates)
Service & Handling Fee: $650.00

Out the door: 31,816.00
Rate: 2.29%
Down Payment $3,000.00
Residual/lump sum @ 36 months $18,167.00

Payment: $351.00 a month

My math shows $31,816.00 minus residual/lump sum $18,167.00 equals $13,649.00
Take out $3,000.00 down
Finance amount is $10,649.00
$10,649.00 over 36 months @ 2.29% is $306.36 monthly...

Just trying to make sure I am seeing this right?

Hi there, I think what you may be missing is taxes. From my understanding on a lease you only pay taxes on the payments you make. If it’s a balloon type loan you would be responsible for taxes on the entire purchase. See if adding that in gets you the correct payment.

edit: also I bought my car out of state but paid taxes at the dealer who then sent them to my states dmv. So they may still be collecting the taxes for you.

 

[TurtleBoy]

Pulsar:

Thank you for the reply, I'm doing this all out of state so that may be the difference is taxes. However it was explained that since AK is a non tittle holding state or something of that nature I will pay all taxes and titling once I register the car in Colorado.

Here is what I have:

MSRP: $39,495.00
Sell Price: $31,166.00 (with all discounts and rebates)
Service & Handling Fee: $650.00

Out the door: 31,816.00
Rate: 2.29%
Down Payment $3,000.00
Residual/lump sum @ 36 months $18,167.00

Payment: $351.00 a month

My math shows $31,816.00 minus residual/lump sum $18,167.00 equals $13,649.00
Take out $3,000.00 down
Finance amount is $10,649.00
$10,649.00 over 36 months @ 2.29% is $306.36 monthly...

Just trying to make sure I am seeing this right?

i

Pulsar:

Thank you for the reply, I'm doing this all out of state so that may be the difference is taxes. However it was explained that since AK is a non tittle holding state or something of that nature I will pay all taxes and titling once I register the car in Colorado.

Here is what I have:

MSRP: $39,495.00
Sell Price: $31,166.00 (with all discounts and rebates)
Service & Handling Fee: $650.00

Out the door: 31,816.00
Rate: 2.29%
Down Payment $3,000.00
Residual/lump sum @ 36 months $18,167.00

Payment: $351.00 a month

My math shows $31,816.00 minus residual/lump sum $18,167.00 equals $13,649.00
Take out $3,000.00 down
Finance amount is $10,649.00
$10,649.00 over 36 months @ 2.29% is $306.36 monthly...

Just trying to make sure I am seeing this right?

I’m not able to do the detailed numbers now but keep in mind when you lease you are paying interest on the cap cost as well as the residual. If you have some time search for calculating a lease by hand and it will show you the steps and you will be able to determine how much interest you will be paying on the lease and what your effective interest rate will be on that 10k.

As mentioned, the sales tax will be included in the monthly lease payment. When you register it you won’t pay any sales tax but rather the reg fees and the ownership taxes.

 

[Legger88]

Hi there, I think what you may be missing is taxes. From my understanding on a lease you only pay taxes on the payments you make. If it’s a balloon type loan you would be responsible for taxes on the entire purchase. See if adding that in gets you the correct payment.

edit: also I bought my car out of state but paid taxes at the dealer who then sent them to my states dmv. So they may still be collecting the taxes for you.

Jlapaglia,

Yeah that was my thought as well. I ran the math that way just to see how close it was. If you only pay taxes on the depreciation amount for my case $13,649.00 then it’s very close. I know in auto leases it’s monthly tax but this balloon financing is all new to me but with the incentives/rebates being so strong it’s cheaper to buy new than used for what I am looking for. Plus the added maintenance free for 3yr/36k miles.

I not sure if the taxes are on the depreciation amount or full sale price. But if it’s depreciation than that would make more sense in this case.

Thank you all

 

[Legger88]

i


I’m not able to do the detailed numbers now but keep in mind when you lease you are paying interest on the cap cost as well as the residual. If you have some time search for calculating a lease by hand and it will show you the steps and you will be able to determine how much interest you will be paying on the lease and what your effective interest rate will be on that 10k.

As mentioned, the sales tax will be included in the monthly lease payment. When you register it you won’t pay any sales tax but rather the reg fees and the ownership taxes.

TurtleBoy,

Thank you for clarifying that would make a lot more sense then. Based on using that 10K with my taxes in CO the payment number is within $5.00 which is expected on dealer sales sheets. I think that the sales person just made things more confusing and doesn't understand the exact details with financing. I don't know how they could avoid sales tax. Makes much more sense.

Thanks,

 

[pulsar]

Pulsar:

Thank you for the reply, I'm doing this all out of state so that may be the difference is taxes. However it was explained that since AK is a non tittle holding state or something of that nature I will pay all taxes and titling once I register the car in Colorado.

Here is what I have:

MSRP: $39,495.00
Sell Price: $31,166.00 (with all discounts and rebates)
Service & Handling Fee: $650.00

Out the door: 31,816.00
Rate: 2.29%
Down Payment $3,000.00
Residual/lump sum @ 36 months $18,167.00

Payment: $351.00 a month

My math shows $31,816.00 minus residual/lump sum $18,167.00 equals $13,649.00
Take out $3,000.00 down
Finance amount is $10,649.00
$10,649.00 over 36 months @ 2.29% is $306.36 monthly...

Just trying to make sure I am seeing this right?

Here is my worksheet. Have not sent this out before. Has some of my scribble on it. The balloon showing is had I leased over the term of the lease what I would owe at the end. The unpaid balance was my actual 30 day balloon note minus a small interest charge that I paid off the car at. I basically have a purchase cash price paid off in 30 days with a small interest fee you don’t see on the worksheet. That got me all my incentives. Your getting charged a service and handling fee, really, don’t like that and not sure why it’s needed? Buying out of state is something I don’t know much about. Just pay zero taxes to the selling dealers state and pay once you register at your own state. That way you avoid the whole potential of paying any taxes or registration fees twice. Good luck.

 

[Legger88]

Here is my worksheet. Have not sent this out before. Has some of my scribble on it. The balloon showing is had I leased over the term of the lease what I would owe at the end. The unpaid balance was my actual 30 day balloon note minus a small interest charge that I paid off the car at. I basically have a purchase cash price paid off in 30 days with a small interest fee you don’t see on the worksheet. That got me all my incentives. Your getting charged a service and handling fee, really, don’t like that and not sure why it’s needed? Buying out of state is something I don’t know much about. Just pay zero taxes to the selling dealers state and pay once you register at your own state. That way you avoid the whole potential of paying any taxes or registration fees twice. Good luck. View attachment 33846

Pulsar,

Thanks for sharing that! So is there any advantage in buying it out right away vs running it out with balloon payments then doing a refi to buy at end? or somewhere in-between? I generally only hold onto my cars for 1-2 years, then trade up or on to something new! However I am hopping that I may hang on to this one since manuals are going away so fast in sedan class and can't bring myself to drive a WRX... But I also love my Stinger, if I can pull them both off that would be the win win but prolly isn't worth having 2 almost identical cars. Hard choices but this is a solid deal I feel on a new car.
Yeah that handling fee is a joke in my opinion. I may use that when I go to pick up the car and I'll tell them to take it off or I'll walk. I can fly back home. They have had that car for almost a year on their lot I'm guessing they want it gone!

Thanks,

 

[pulsar]

There has been dialog on that exact question here. I keep my cars for more than 5 years and I keep them in very clean condition. Part of my worry had I leased was if I buy at the end, how does Texas calculate remaining owed taxes and the hassle of possibly re-titling the car at that time with new registration fees on top of that. Some said I should have kept my cash, invested it for the 36 months before I paid off the final note. I might add I hate monthly payments so for me my plan worked just fine. If you like new cars every few years then for sure your a lease candidate. There are folks here really smart on lease specifics, sorry to say I’m not one of them.

 

[TurtleBoy]

Pulsar,

Thanks for sharing that! So is there any advantage in buying it out right away vs running it out with balloon payments then doing a refi to buy at end? or somewhere in-between? I generally only hold onto my cars for 1-2 years, then trade up or on to something new!

Thanks,

Putting aside whether you want payments or not, it is just a matter of running the numbers and seeing which way is the least expensive. You need to make a few guess as to what future interest rates and investment returns would be.

When the MF was extremely low it was a no-brainer to lease for the full term at 15k miles so the residual was as low as possible in order to use the almost free money. I haven't been following the MFs but if they are up in the 2% range as you mention then perhaps paying the lease off early is a better option depending on what that funding source would be.