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2013 and earlier Kia Soul Lease Questions

24

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  • centiscentis Posts: 10
    Just leased a 3yr, 15K on an Alien Green Soul + with upgraded audio, floor mats, etc... MSRP of $17,835. Got it for $17,300. With $1,000 down (which includes 1st month payment), $1,000 in lease incentive, $750 in competitive bonus incentive we have a monthly payment of $199.98. Residual value of $9,200.

    The 2011's, sub-$18k +'s were getting really scarce in my area this past week. This was one of, if not the last one, in my immediate area I believe. Feel comfortable with where we landed.
  • Carman, What is the money factor and residual on a Kia Soul + in August 2011? How is residual calculated, as a percentage of MSRP? or as a percentage of selling price? What are the lease incentives to know about for August? Will incentives get more attractive in September?

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi deal_finder. Kia Motors Finance's August buy rate lease money factor and residual value for a 36 month lease of a 2011 Kia Soul + with 15,000 miles per year are .00021 and 49%, respectively for consumers who qualify for its top credit tier.

    Vehicles' residual values are based upon a percentage of their full MSRPs, including the MSRPs of any options that can be residualized and the destination charge.

    Kia is providing a $1,500 cash incentive on leases of this vehicle in August.

    These programs are scheduled to run through August 31st. It's difficult to say what its September programs will be like.

    Car_man
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  • Hi Carman
    Could you give me the buy rate lease money factor and residual for a 2011 Kia Soul + w/ Automatic and floormats (MSRP = $17,285.00) for 12,000 miles per year for 36 months?
    - Thanks!
  • sirk98sirk98 Posts: 7
    Hi there!

    I have always owned cars outright, but am considering buying or leasing a Kia Soul+.

    I guess I have a couple of questions. Here is the first one.

    I found a website (unsure if its kosher to give URL here), that 'pre-negotiates' the price for me--no haggling at the dealership. The price it gve me, including the options I want was quite fair. Lets say it was < $17k.

    The dealer called me back and told me that they would honor this price--they had to contractually--so long as I scheduled a test drive. So I did.

    My question is this: can I use this price as the basis for a lease negotiation? Woman on phone said she doesnt handle the finance angle--that could be discussed when I go in.

    Also, I see you mentioned that Kia is offering $1500 incentives in August. I saw only one I thought I would qualify for (Competitor incentive) for $750. What was the other incentive you mentioned? There is a college grad one, but I think you have to have graduated in the last 6 months?
  • sirk98sirk98 Posts: 7
    edited August 2011
    For my second (or third or fourth *grin*) question:

    Kia is also running a special lease offer for $159/month. From kia.com, looks like $1245 cap cost reduction plus some other stuff for $1999 total (plus fees) due at lease signing.

    Why would I or would I not want to trade in my current car (2004 Nissan Sentra 1.8 w/ 74k miles) in on this deal? I read somewhere that less money down is better in case the lease gets stolen?

    Thanks in advance for all the info!
  • sirk98sirk98 Posts: 7
    Given the Soul's lengthy warranty (limited? not bumper to bumper?), does the advice on avoiding leases longer than 36 months still hold? Would a 48 or 60 month lease be a better deal (I know it depends on money factor, etc--but avoiding a new lease in 36 months has to save some $$, no?)...

    Thanks again!
    k
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    I'd be happy to help you out, leaser45. Kia Motors Finance's August buy rate lease money factor and residual value for a 36 month lease of a 2011 Soul + with 12,000 miles per year are .00021 and 50%, respectively for consumers who qualify for its top credit tier.

    When negotiating your lease on this vehicle, make sure to take advantage of the $1,500 cash incentive that is currently available on leases of it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi sirk98. If you have negotiated an attractive selling price on the Soul that you're interested in, I personally don't see why you wouldn't be able to use that price to calculate your car's lease payment.

    In addition to the $750 competitive owner cash incentive that you mentioned, Kia is providing a $1,500 cash incentive on leases of this car. Make sure to take this cash into account when negotiating your deal. I believe that Kia is providing a $750 cash incentive for recent college grads on top of these offers.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    What you have heard about not putting money down on leases is correct, sirk98. There's nothing wrong with trading in your current vehicle when leasing a new one, but you should have the dealer cut you a check for any equity that you have in it rather than using the proceeds from it as a down payment for your lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi sirk98. The problem with leasing a Soul for anything other than 36 months is that this seems to be the only term that Kia is currently providing lease support on. If this is indeed the case, leasing for any other length would be a much worse deal.

    Car_man
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  • sirk98sirk98 Posts: 7
    thanks for the info!!! very helpful! :-)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    No problem sirk98. I'm glad that I was able to help.

    Car_man
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  • jrw118jrw118 Posts: 4
    Good Morning,
    My dealership has a 2010 soul left. Is is possible to still lease a 2010? and if so what would be the money factor and residual on a 2010 Soul sport with man trans?
    Thanks
  • Hi jrw118. Kia is not providing lease support on 2010 models any longer. As a result, if you really want to lease you wold probably be better off going with a newer model.

    Car_man
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  • dpavdpav Posts: 19
    Car_Man - could you please provide MF and residual for Kia's December lease programs for 36 mo 10K and 12K leases of a 2012 Soul + Automatic. Any lease incentives still active ?
  • I'd be happy to dpav. Kia Financial Services' December buy rate lease money factor and residual value for a 39-month lease of a 2012 Soul + Automatic with 12,000 miles per year are .00164 and 58%, respectively for consumers who qualify for its top credit tier.

    Kia is currently providing a $500 cash incentive on leases of this vehicle.

    Car_man
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  • Hi Car_man,

    Does Kia do 15k leases on the soul? Term does not really matter for me, I just need the mileage. If yes, can you please tell me the money factor and residual for an Exclaim model?

    Thank you very much!
  • Yes, jordyncale, all banks that I am aware of offer leases with 15,000 miles per year. Kia Financial Services' 15,000 mile per year residual values are 1% lower than its 12,000 mile per year residuals.

    KFS' 39-month, 15,000 mile per year numbers for a 2012 Soul 2.0L are .00092 and 53%.

    Car_man
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  • chadecoenchadecoen Posts: 13
    edited March 2012
    Hello Car_man,
    Thank you for all the wonderful info you have here! Any chance you have the current lease numbers and incentives for the Soul? Looks like the inventories in my area are finally being replenished. My biggest problem is my wife likes all of the current models being offered by KIA!!!!! Actually, I think we are looking at an optima, soul, or Forte. But I will ask about the others in the appropriate forums. Thanks again.

    Chad
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