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2013 and earlier Kia Sorento Lease Questions

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Comments

  • Car_Man -- Do you have the money factor and residual value numbers for April for both Kia Sorrento EX V6 AWD and LX V6 AWD?

    Your help is most appreciated!
  • apsonapson Posts: 2
    I was just quoted by Kia of Elk Grove (Sacramento, CA region) with a money factor of .00058 and a residual value of 50% along with the $1500 cash incentive for the I4 LX 2WD in Titanium Silver. Dealer says won't go below MSRP because there are only two of this color in this trim within 100 miles. Amounted to $3k due at signing and $289/mo. Kia.com has this model (#72222) special at $2999 down, $239/mo. The only way I can see one achieving this monthly price is if you qualify for $1k bonus cash (on top of $1500 incentive) and get the dealer to come down on selling price. In California, with 8.125% sales tax I came up with this:

    MSRP: $23590
    - Cash Incentive of $1500: $22090
    Due at signing: $2999 (fees + cap reduction)
    (Cap reduction: $2150)
    Money Factor: .00058
    Residual: 50%
    Sales Tax 8.125% ($897.41 I think?)
    Monthly: $276.80

    I'm not sure where lic/doc fees are going to go. This would be added to the selling price or subtracted from the cap reduction, right? "Due at signing" is $2999 which includes fees leaving you with a cap reduction of $2150

    Dealer quoted me $2999 at signing and $289/mo. Would feel a lot better for a 2WD LX at $260.
  • karchkarch Posts: 42
    If dealer won't go below msrp, I'd find another dealer. Just my opinion.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    I sure do thesignal. Kia's current base lease rate and residual value for a 36 month lease of a 2011 Sorento EX V6 AWD with 15,000 miles per year are .00129 and 50%, respectively.

    The numbers for an otherwise identical lease of a Sorento LX V6 AWD are .00054 and 48%.

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

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • raduderadude Posts: 50
    Car_man,

    What it the the current MF and Residual for a 36 month/10K lease on a 2011 Kia Sorento AWD 4dr I4 LX w/AUTO?

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi radude. Infiniti Financial Services' May buy rate lease money factor and residual value for a 36 month lease of a 2011 Kia Sorento AWD LX I4 with 10,000 miles per year are .00094 and 52%, respectively.

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

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • andy2812andy2812 Posts: 65
    Hi Car Man,

    Can you please let me know what the residual and money factor is on the Sorento LX V6 w AWD for a 36 month lease and 12k miles per year?

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    I'd be happy to andy2812. Kia Finance's June buy rate lease money factor and residual value for a 36 month lease of a 2011 Sorento LX V6 AWD with 12,000 miles per year are .00154 and 50%, respectively.

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

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • andy2812andy2812 Posts: 65
    Car_man,

    Thanks for your help.
  • tjcolvintjcolvin Posts: 2
    Car_man,

    Do you have the residual and money factor for a 36/12,000 lease on the 2012 (not '11) Sorento EX AWD. I just read that the residual rate is now 58% and wanted to confirm and get the MF if that is true.

    Thanks.
  • ashwenashwen Posts: 21
    CAR_MAN,
    Do you have the June lease rates for both the 2011 and 2012 Sorento FWD SX? I am looking for a 36 month /12,000 miles lease. Thanks for all your help.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're very welcome andy2812.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    I certainly do tjcolvin. Infiniti Financial Services' June buy rate lease money factor and residual value for a 36 month lease of a 2012 Kia Sorento EX 4-cylinder AWD with 12,000 miles per year are .00144 and 57%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi ashwen. Kia's June buy rate lease money factor and residual value for a 36 month lease of a 2011 Sorento SX FWD with 12,000 miles per year are .00164 and 51%, respectively.

    The numbers for an otherwise identical lease of a 2012 model are .00126 and 54%, respectively.

    Kia is currently providing a $1,500 cash incentive on leases of the 2011 model, but no cash on the 2012 model.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • tjcolvintjcolvin Posts: 2
    Thanks, Car_man! Much appreciated.
  • ashwenashwen Posts: 21
    Thanks Car_Man. I was hoping the 2012 to have a higher residual value. :( From what I understand, the main difference is the addition of UVO in 2012, so I won't be missing out much going with a 2011.

    From my interactions with a couple of dealerships here in Houston, looks like the $1500 competitive cash can be applied to leases in addition to the $1500 lease cash that is being offered on the 2011s.

    Also, there seems to be a $1000 competitive cash available on the 2012s.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're very welcome tjcolvin.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • j_smith1j_smith1 Posts: 14
    Car_man

    Do you have the July money factor and residual for for Sorento SX Awd 36mo 12k? Any incentives this month?

    Thanks!
  • brianf1997brianf1997 Posts: 22
    Car man,

    Can you please provide the current money factor and residual value for the 2012 EX V6 AWD? Also, I presume the residual % doesnt change based on the options in the EX (e.g., navigation system vs no navigation system)?
  • vegasqvegasq Posts: 2
    Car_Man,

    I am looking to close a deal on a Kia Sorento this week. I am looking for the lease rates on both a 2012 Sorento EX FWD 4 cylinder 15k and a Sorento LX FWD 4 cylinder 15k. Also, is there any dealer cash for July? Thanks for all the great information you provide!
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