[BGVT]

Hey all! I currently am half way through my lease of a 2021 K5 GT-Line Premium and would love to get out of the lease. My local Kia dealer has a 2023 K5 GT with the GT1 package ($36K) which I’ve been eying. Running numbers with them they offered me $3K over what my lease buyout is, but are upcharging $3K over MSRP which would put me right at sticker price. Would I be smart to purchase this or should I wait until the lease is up in a year and go from there?

Thanks!

 

[Mike_TX]

Just my opinion, but you aren't going to gain anything by waiting a year. For one thing, used car prices are beginning to fall, so your current car is worth more now than it will ever be. (And $3k over lease payoff ain't bad.)

Secondly, even though you will have paid your lease down more in a year you'll be lucky to have more equity than you have now, if as much.

Third, the car market is nuts right now, and no one can tell you how it will be in 12 months. So next year is a mystery and today is a known quantity, and that's worth something.

Last but not least, if that dealer actually has a GT sitting on his lot, that saves you 2-12 - 3 months of waiting if you were to order one.

If I were in your shoes, I'd strike while the iron is hot. You won't get this chance again for a long time.

 

[1st K5]

I'd calculate total monthly cost and see if it makes financial sense to you. If so....jump on it.

 

[FloridaDave]

Agree with Mike-TX - go for it now...this economic environment could be way different a year from now. One thing is a given...interest rates are going up, which includes new & used cars. If they have a GT at essentially sticker....I would snatch that up now. Just my opinion

 

[RMA]

All truly accurate statements as mentioned above, I would jump on that deal if I were in the same situation as you.

 

[Mike_TX]

Okay, @BGTV, what did you do?

 

[WolfGreyGuy]

I also would jump on it to get the GT at effectively MSRP.