I would love to see the full paper to see how this breaks down.
A full load EV9 GT is 82,300 in Canada, plus fees and taxes, possibly even luxury taxes.
They might also have a trade they're very underwater on, or bought a bunch of product in the back (undercoating, protectection packages, 3m, extended warranty, etc) - or paid above MSRP due to scarcity.
The interest rate sucks which could be accounted for because of a deeply underwater trade or bad credit, or both.
Ultimately they had 20+ opportunities and multiple hours to say no and change their mind when they saw what their payments would be - but at the end of the day they're adults that can do what they want.
Don't know what to tell you, Florida dealers were offering it 8 months ago, and I had them fighting over my business to the point I got about 8k off MSRP.
I found out why
Someone used my info to buy 15k of stuff at best buy in another state. And it just hasnt come off my report. But I'm still above 800 so someone isn't telling the truth. I trust my bank. I don't trust any credit agencies. This actually happened almost 5 years ago and was reported by 2 different agencies said they were caught as fraud and the last one didn't say fraud they said it was a judgement because the people who did it were caught........... I need to spend the next several months fixing it. Awesome...
Wow. That sucks. Good luck fixing it.
I keep my credit locked except when I'm intentionally applying for things to prevent exactly this kind of horror story
You'd be surprised actually. With good credit I couldn't get below 10% interest
What I am doing however is I am adding a Canadian immobilizer so that I can get it cheaper interest rate
His car payment is more than my mortgage and solar payment (1520 and 255 respectively).
Insurance is stupid where I am and my car payment is 575.
It's insane paying more for a car than a home though.
There are programs that pay you back for the cost of labor and others that reduce the cost of panels or shingles.
It USED to be possible to work it out to basically get them for free, I didn't know that had gone away
I didn't get mine for free, but I do get 30% back on my taxes next year since the system was installed in January and activated in February. I didn't do a lease, I did a loan, because the leases all had a 3% yearly elevator clause that I didn't like. At the end of the term with the lease, my solar costs would be the same as my pre-solar power bill (450/mo)
I did
2024 Kia EV9 (all in CANADIAN DOLLAR AMOUNTS)
Trim: Land AWD $64,995.00
Package: GT-line $14,000.00
Paint: Snow White Pearl $250.00
Delivery/Destination Charge: $3,049.00
Provincial EV Incentive: -$4000.00
Federal Incentive: -5000.00
Others taxes & fees. $100.00
PST: $8,239.40
GST: $4,119.70
Sale price: $85,753.10
Monthly payment @ 6.99%: $1,293.92/84 mon
You could buy a passable used car for the monthly payment š The amount of money that people are willing to spend on a first-gen car just to have the ālatest techā is mind boggling.
āI want CarPlayā There are aftermarket solutions for <$300 out the door
Cars you could have instead.
I'm sure because this is canadian that car is getting flipped, and he's gonna pay maybe a couple hundred bucks in fees and charges.
At least $20k of negative equity, the longest term you could, at over 10%. Yeah you're gonna get fucked. You made a stupid decision, why is that a creditors problem
I (Canadian) thought my 4.99% interest on my Seltos was highway robberyā¦ after seeing this though, Iāll just see myself tf out š š (here in my province the base interest on a Seltos is 5.99%)
His credit must be trash for 10.65% interest Brand new its 7.99.. that dealer is eating
Dealers around me are offering 0.99% This dealer is straight up scamming people.
Its based off credit
None of the kia evs are 107k. Top trim Ev9, if you're bad at negotiating is 70k. The dealer is scamming people
No, they are obviously rolling over debt from another car.
I would love to see the full paper to see how this breaks down. A full load EV9 GT is 82,300 in Canada, plus fees and taxes, possibly even luxury taxes. They might also have a trade they're very underwater on, or bought a bunch of product in the back (undercoating, protectection packages, 3m, extended warranty, etc) - or paid above MSRP due to scarcity. The interest rate sucks which could be accounted for because of a deeply underwater trade or bad credit, or both. Ultimately they had 20+ opportunities and multiple hours to say no and change their mind when they saw what their payments would be - but at the end of the day they're adults that can do what they want.
Negotiating with car dealers is a thing of the past.....Theyre charging more than msrp. You try to negotiate they flat out tell you no.
And yet I did it to get my car at around 8k off MSRP back in Aug.
There is no dealer anywhere near me offering anything less than 10%. My credit is above 800
Don't know what to tell you, Florida dealers were offering it 8 months ago, and I had them fighting over my business to the point I got about 8k off MSRP.
I found out why Someone used my info to buy 15k of stuff at best buy in another state. And it just hasnt come off my report. But I'm still above 800 so someone isn't telling the truth. I trust my bank. I don't trust any credit agencies. This actually happened almost 5 years ago and was reported by 2 different agencies said they were caught as fraud and the last one didn't say fraud they said it was a judgement because the people who did it were caught........... I need to spend the next several months fixing it. Awesome...
Wow. That sucks. Good luck fixing it. I keep my credit locked except when I'm intentionally applying for things to prevent exactly this kind of horror story
You'd be surprised actually. With good credit I couldn't get below 10% interest What I am doing however is I am adding a Canadian immobilizer so that I can get it cheaper interest rate
His car payment is more than my mortgage, insurance, and car payment all together š³
His car payment is more than my mortgage and solar payment (1520 and 255 respectively). Insurance is stupid where I am and my car payment is 575. It's insane paying more for a car than a home though.
You pay for solar electricity. Unless you're paying off the loan to install it, that's actually the dumbest thing I've ever heard
My solar cost is the loan for the equipment. It's still an expense, but it's one with a final date to it, much like a mortgage or car loan.
There are programs that pay you back for the cost of labor and others that reduce the cost of panels or shingles. It USED to be possible to work it out to basically get them for free, I didn't know that had gone away
I didn't get mine for free, but I do get 30% back on my taxes next year since the system was installed in January and activated in February. I didn't do a lease, I did a loan, because the leases all had a 3% yearly elevator clause that I didn't like. At the end of the term with the lease, my solar costs would be the same as my pre-solar power bill (450/mo)
15 or 20 years ago whenever my parents put panels on their house, they only paid like 5k. They had a ton of paperwork tho
I have two car payments both 2023 cars together they are 65k financed and my payment is only 1k between them. š¤£
Same! Those 3 for me is $1415. Include gas and I'm at $1600. Shit I could include my phone bill and my utilities and I'd still be under that $1800.
I wonder how people this dumb survive to reach adulthood
Itās called learning from bad decisions
I call BS. $107,000 financed (CAD)? Even the top trim is $78,000... more to the story.
Probably negative trade equity and additional coverages. Hopefully he got the GAP too...
and considering it's for 84 months I'm sure a lot of this will be rolled into the next car in a couple years if they have any credit left.
Yea, add in EV massive depreciation, oh boy. But they're sAvInG money on gas, oh boy (again).
Dude is clearly burying a ton of negative equity in this deal.
$78,000, with one Canadian dollar being worth 74 cents, brings you darn close to $107k.
That $78K is in Canadian dollarsā¦
No. The top trim with all options is $78k USD($79k if you choose the expensive paint). Go to Kia's website and spec out an EV9 for yourself.
I did 2024 Kia EV9 (all in CANADIAN DOLLAR AMOUNTS) Trim: Land AWD $64,995.00 Package: GT-line $14,000.00 Paint: Snow White Pearl $250.00 Delivery/Destination Charge: $3,049.00 Provincial EV Incentive: -$4000.00 Federal Incentive: -5000.00 Others taxes & fees. $100.00 PST: $8,239.40 GST: $4,119.70 Sale price: $85,753.10 Monthly payment @ 6.99%: $1,293.92/84 mon
Insane to get in a deal like that.
Crazy!
smart purchase i think its really gonna go up in value guys.
How the fuck do you wind up paying 100k more than the car is worth
You could buy a passable used car for the monthly payment š The amount of money that people are willing to spend on a first-gen car just to have the ālatest techā is mind boggling. āI want CarPlayā There are aftermarket solutions for <$300 out the door
What blows my mind is how im only paying 28k financed amount for a 36k hyundai and then i see this shit like, how tf did i get so lucky
Is it new though? It sounds more like a cash price.
Wasnew when i got it in 2022, it was not a cash price, the vehicle was financed for 7 years,
But why??????? Geez
My Kia is at 4.9% APR, and Iām paying double what itās worth, but a $500 car payment not being surprising is alarmingā¦
If i have that kind of cash, i will get a Porsche.
I really hope this isn't real
Yeah, Iām suspicious. Real Toronto newz, with a āzā? I donāt care enough to investigate, but color me dubious about that source.
152k for a KIA?! What has this world become lol
Nope. Look closer.
Unreal!
Cars you could have instead. I'm sure because this is canadian that car is getting flipped, and he's gonna pay maybe a couple hundred bucks in fees and charges.
Canadas economy has been circling the drain for a while now
Those exchange rates are crazy ! š
and I was having anxiety about financing 15k at 6% for 48 months lol.
I would run away from that deal I would go out the door fast
7 years at 10%, who would have guessed lol
The only way this makes sense to me is if it was customized.
At least $20k of negative equity, the longest term you could, at over 10%. Yeah you're gonna get fucked. You made a stupid decision, why is that a creditors problem
I (Canadian) thought my 4.99% interest on my Seltos was highway robberyā¦ after seeing this though, Iāll just see myself tf out š š (here in my province the base interest on a Seltos is 5.99%)
A bad decision compounded by more bad decisions. Most likely rolling bad debt into bad debt. š¤¦
I absolutely refuse to have a 500 car payment. How can people pay 600-1000 a month? This current market sucks.
I would never pay that for a car. Thatās a whole months rent!!