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Kia Forte Lease Questions

2

Comments

  • ppxstylezppxstylez Posts: 1
    edited August 2012
    Hello Car_man,

    Could you please post the August residual and money factor for the 2013 Kia Forte SX (12k and 15k miles)?
    Thank you!

    Best regards,
    Paul
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings Paul. Kia Financial Services' August buy rate lease money factor and residual value for a 2013 Kia Forte Sedan SX with 15,000 miles per year are .00100 and 56%, respectively for consumers who qualify for its top credit tier.

    The residual value for a lease with only 12,000 miles per year would be 1% higher.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • mwahlertmwahlert Posts: 13
    Can you please post the MF and residual for the Forte EX Auto sedan with Premium Package?

    12k and 15k

    Any idea if the 1k cash back can be used on a lease?

    Thank you!
  • jnkohjnkoh Posts: 23
    Hi car_man,
    What are the lease numbers for a 2012 Kia forte LX auto for 12k miles per year 36 months? Can customer cash back be used on the lease?

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Certainly mwahlert. Kia Financial Services' August buy rate lease money factor and residual value for a 36-month lease of a 2012 Forte Sedan EX with 15,000 miles per year are .00068 and 54%, respectively for consumers who qualify for its top credit tier.

    The residual value for a lease with only 12,000 miles per year would be 1% higher.

    There is a $1,000 cash incentive on leases of this car right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jnkoh. Kia Financial Services' August buy rate lease money factor and residual value for a 36-month lease of a 2012 Forte Sedan LX Auto with 12,000 miles per year are .00061 and 55%, respectively for consumers who qualify for its top credit tier.

    There is a $1,000 cash incentive on leases of this car in August.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Greetings Car_man

    Could you provide the May Money factor and residual on a 12,000 mile lease on a Forte EX Automatic? I'm hoping they're competitive to what's currently offered on the Elantra!

    Thanks in advance!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi wordsmith419. Kia Financial Services' buy rate lease money factor and residual value for a 36-month lease of a 2013 Kia Forte EX with 12,000 miles per year are .00109 and 65% for consumers who qualify for its top credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • mbl_carguymbl_carguy Posts: 11
    Hi Car_Man,

    First and foremost, thank you for all the help you provide to everyone on this board.

    Looking at the new, redesigned Forte EX with Premium Package - MSRP around $23,200. Do you know the money factor and residual for a 36 month lease, 10k miles per year? Am I correct in that there's a $500 lease incentive now? I am in NC. Thanks in advance.
  • mbl_carguymbl_carguy Posts: 11
    I should clarify - looks like you provided the rates in May for the Forte EX, but looks like it was for the 2013 model. Not sure how different the #'s are now? Thanks again.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome mbl_carguy. Kia Financial Services' June buy rate lease money factor and residual value for a 36-month lease of a 2014 Forte EX with 10,000 miles per year are .00156 and 66% for consumers who qualify for its top credit tier.

    You are correct, there is a $500 cash incentive on leases of this car right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • badeacon1badeacon1 Posts: 8
    Hi Carman

    Could you give me the July money factor and residual values on 2014 Forte Ex with premium and tech package for 36 months 10,000 and 12,000 miles.

    Thanks
  • rmc03rmc03 Posts: 5

    Hi there, please can I get the money factor and residual on a 2014 Forte Coup SX.

    24 month lease, 15,000 miles and 12,000 miles options in California.

    Thanks a lot

  • kyfdxkyfdx Posts: 31,040

    @rmc03 said: Hi there, please can I get the money factor and residual on a 2014 Forte Coup SX.

    24 month lease, 15,000 miles and 12,000 miles options in California.

    Thanks a lot

    Not showing any 24 month lease info for Kia

    36mo, 15K (automatic): .00212 MF and 64% residual. $1000 lease cash.
    Add 2% for 12K/yr.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • rolento76rolento76 Posts: 22

    Hi CarMan. Can I get the numbers and any incentives for June 2014 for a 36 month lease, 10,000 miles for a KIA Forte EX with premium package? Thanks in advance!

  • MichaellMichaell ColoradoPosts: 7,978

    @rolento76 said: Hi CarMan. Can I get the numbers and any incentives for June 2014 for a 36 month lease, 10,000 miles for a KIA Forte EX with premium package? Thanks in advance!

    The June numbers should be available as early as tomorrow. Check back with us in a day or two.

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  • rolento76rolento76 Posts: 22

    Have the Kia numbers come in for June 2014?

  • kyfdxkyfdx Posts: 31,040

    @rolento76 said: Hi CarMan. Can I get the numbers and any incentives for June 2014 for a 36 month lease, 10,000 miles for a KIA Forte EX with premium package? Thanks in advance!

    I'm not sure Kia offers a 10K/yr program.

    2015 EX 4-door: .00108 MF and 62% residual for 36mo, 12K/yr.<br? 2015 EX 5-door: .00022 MF and 58% residual

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Hi,

    Do you have numbers for the 2014 Forte Koup SX? 36/12k (SoCal).
  • kyfdxkyfdx Posts: 31,040

    Hi,

    Do you have numbers for the 2014 Forte Koup SX? 36/12k (SoCal).

    .00081 MF and 59% residual. $1500 lease cash

    If manual, .00084 MF

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • carqguycarqguy Posts: 10
    Kia is running a lease special right now for 189/mo for 2000 down. $189 per month for 36 months, $1,999 due at lease signing (excluding tax, title, license & dealer fees) and is contingent upon customer eligibility of a $500 Competitive Bonus or Owner Loyalty Bonus and must be applied to reduce monthly lease payments.

    Can anyone comment on whether or not this is a good deal out the door or not? I leased my first forte EX for 199/mo all taxes and fees included so I'm hoping to get as good or better a deal with this one.

    Where could I request some wiggle room to get the price down some more for me at the dealership?
  • MichaellMichaell ColoradoPosts: 7,978
    carqguy said:

    Kia is running a lease special right now for 189/mo for 2000 down. $189 per month for 36 months, $1,999 due at lease signing (excluding tax, title, license & dealer fees) and is contingent upon customer eligibility of a $500 Competitive Bonus or Owner Loyalty Bonus and must be applied to reduce monthly lease payments.

    Can anyone comment on whether or not this is a good deal out the door or not? I leased my first forte EX for 199/mo all taxes and fees included so I'm hoping to get as good or better a deal with this one.

    Where could I request some wiggle room to get the price down some more for me at the dealership?

    The national deals are just OK; they often require a healthy amount of down payment (in this case, $2000) and not much of a discount from sticker.

    You can - and should - be able to do better on your own. Negotiate your best selling price, then apply the competitive or loyalty bonus.

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  • carqguycarqguy Posts: 10
    Michaell said:

    carqguy said:

    Kia is running a lease special right now for 189/mo for 2000 down. $189 per month for 36 months, $1,999 due at lease signing (excluding tax, title, license & dealer fees) and is contingent upon customer eligibility of a $500 Competitive Bonus or Owner Loyalty Bonus and must be applied to reduce monthly lease payments.

    Can anyone comment on whether or not this is a good deal out the door or not? I leased my first forte EX for 199/mo all taxes and fees included so I'm hoping to get as good or better a deal with this one.

    Where could I request some wiggle room to get the price down some more for me at the dealership?

    The national deals are just OK; they often require a healthy amount of down payment (in this case, $2000) and not much of a discount from sticker.

    You can - and should - be able to do better on your own. Negotiate your best selling price, then apply the competitive or loyalty bonus.

    That's what I figured. I just emailed a few local dealerships asking for Invoice including destination + competitive bonus, i'm hoping that's a good place to start the discussion.

  • MichaellMichaell ColoradoPosts: 7,978
    carqguy said:

    Michaell said:

    carqguy said:

    Kia is running a lease special right now for 189/mo for 2000 down. $189 per month for 36 months, $1,999 due at lease signing (excluding tax, title, license & dealer fees) and is contingent upon customer eligibility of a $500 Competitive Bonus or Owner Loyalty Bonus and must be applied to reduce monthly lease payments.

    Can anyone comment on whether or not this is a good deal out the door or not? I leased my first forte EX for 199/mo all taxes and fees included so I'm hoping to get as good or better a deal with this one.

    Where could I request some wiggle room to get the price down some more for me at the dealership?

    The national deals are just OK; they often require a healthy amount of down payment (in this case, $2000) and not much of a discount from sticker.

    You can - and should - be able to do better on your own. Negotiate your best selling price, then apply the competitive or loyalty bonus.

    That's what I figured. I just emailed a few local dealerships asking for Invoice including destination + competitive bonus, i'm hoping that's a good place to start the discussion.

    Use the shopping tools at the top of the page to help establish a target price.

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  • carqguycarqguy Posts: 10
    Hello,

    I'm can someone post this months MF and residual for a 2015 Forte-5 EX?

    I had prenegotiated a price and run the calculations through the edmunds calculator based on the June numbers from above (2015 EX 5-door: .00022 MF and 58% residual).

    I thought I had a good deal worked out but it barely beats the lease special on the website and I'm not sure I understand why.

    You see.. the deal on the kia website has a lower AV than the AV listed on my lease sheet, and I am assuming KIA wants to make money on their cars. Here's why I'm confused.

    Kia.com Deal - http://www.kia.com/us/en/offers?series=forte5&year=2015
    MSRP: 20490 (inc $800 destination)
    RV: 11,679.30
    $2000 down ($1215 cap cost reduction)
    595 Acquisition fee
    Base payment: 189
    Total payments: 8614 / 36 = 239 total payment

    Now -- as you said above these deals are just OK. So I looked up the invoice price on the vehicle and asked for invoice including destination, which should make me well below invoice pricing and result in a good deal, yes? After the dealer accepted my offer of invoice + current kia incentives I headed in and here's the calcs they gave me..

    Kia Dealership
    MSRSP: 20490 (inc 800 destination)
    Dealer Cost: 18751, Options: 197, Destination: 800, Total: 19937
    Agreed Value: 19000
    +addtl gross cap (745) - this is the 595 acquisition fee + title, license, reg they said.
    Net cap: 18250.94
    Rebate: 500
    Residual Value: 12363
    $1500 down ($1494.06 cap cost reduction)
    Base Payment: 200.90
    total payment: 218.98

    I didn't catch the MF which is why i'm asking, I know he said he was calculating the RV at 60% instead of 58% and i believe the MF was .000325 instead of .0002 but the caulcator on edmunds still isn't adding up.

    Now.. Here's is my additional confusion..

    The kia.com has a lower RV than the deal I got at the dealership. The deal I am getting at the dealership was negotiated to $900 under invoice cost and has a higher RV than the kia.com lease deal.

    Shouldn't my payments be much-much lower than the kia.com deal with the higher RV and lower than MSRP invoice cost?

    I know that in my negotiated lease deal my down payment is $500 less, but we bumped it up to see how it compard and my base payment is 187, $3 under the kia.com deal.

    Additionall on the kia.com deal, the total payments /36 come out to a WAY higher total payment than my negotiated lease, yet the base payments are relatively the same.

    Why are the payments so close in base, so far in total, when the RV is almost $1000 apart and I'm already $1000 under invoice on the vehicle?

    Surely kia.com is not offering vehicle-s for $1000 under invoice cost? That would make no sense from a business perspective.





  • carqguycarqguy Posts: 10
    Just spoke with them, they are saying its a .001220 MF on the EX and he's having trouble figuring out how kia.com is getting their numbers how they are since the RV is at 60% and the MSRP is higher than what they have listed for calc.
  • MichaellMichaell ColoradoPosts: 7,978
    carqguy said:

    Hello,

    I'm can someone post this months MF and residual for a 2015 Forte-5 EX?

    I had prenegotiated a price and run the calculations through the edmunds calculator based on the June numbers from above (2015 EX 5-door: .00022 MF and 58% residual).

    I thought I had a good deal worked out but it barely beats the lease special on the website and I'm not sure I understand why.

    You see.. the deal on the kia website has a lower AV than the AV listed on my lease sheet, and I am assuming KIA wants to make money on their cars. Here's why I'm confused.

    Kia.com Deal - http://www.kia.com/us/en/offers?series=forte5&year=2015
    MSRP: 20490 (inc $800 destination)
    RV: 11,679.30
    $2000 down ($1215 cap cost reduction)
    595 Acquisition fee
    Base payment: 189
    Total payments: 8614 / 36 = 239 total payment

    Now -- as you said above these deals are just OK. So I looked up the invoice price on the vehicle and asked for invoice including destination, which should make me well below invoice pricing and result in a good deal, yes? After the dealer accepted my offer of invoice + current kia incentives I headed in and here's the calcs they gave me..

    Kia Dealership
    MSRSP: 20490 (inc 800 destination)
    Dealer Cost: 18751, Options: 197, Destination: 800, Total: 19937
    Agreed Value: 19000
    +addtl gross cap (745) - this is the 595 acquisition fee + title, license, reg they said.
    Net cap: 18250.94
    Rebate: 500
    Residual Value: 12363
    $1500 down ($1494.06 cap cost reduction)
    Base Payment: 200.90
    total payment: 218.98

    I didn't catch the MF which is why i'm asking, I know he said he was calculating the RV at 60% instead of 58% and i believe the MF was .000325 instead of .0002 but the caulcator on edmunds still isn't adding up.

    Now.. Here's is my additional confusion..

    The kia.com has a lower RV than the deal I got at the dealership. The deal I am getting at the dealership was negotiated to $900 under invoice cost and has a higher RV than the kia.com lease deal.

    Shouldn't my payments be much-much lower than the kia.com deal with the higher RV and lower than MSRP invoice cost?

    I know that in my negotiated lease deal my down payment is $500 less, but we bumped it up to see how it compard and my base payment is 187, $3 under the kia.com deal.

    Additionall on the kia.com deal, the total payments /36 come out to a WAY higher total payment than my negotiated lease, yet the base payments are relatively the same.

    Why are the payments so close in base, so far in total, when the RV is almost $1000 apart and I'm already $1000 under invoice on the vehicle?

    Surely kia.com is not offering vehicle-s for $1000 under invoice cost? That would make no sense from a business perspective.

    What state is this? We only have partial numbers from Kia for this month.

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  • carqguycarqguy Posts: 10
    WA State. He is quoting .60RV and .001220 over the phone which puts me at $21863 after 3 years on an agreed value of 19000. Which seems absurdly high to me. Is the lease rates this month just atrocious? 3+% on a lease seems super high and its making me think i'd be better off purchasing instead ofleasing.
  • carqguycarqguy Posts: 10
    He also said the computer won't let him do $500 loyalty bonus but is giving me $500 kia cash instead.. not sure whats up with that.
  • MichaellMichaell ColoradoPosts: 7,978
    carqguy said:

    WA State. He is quoting .60RV and .001220 over the phone which puts me at $21863 after 3 years on an agreed value of 19000. Which seems absurdly high to me. Is the lease rates this month just atrocious? 3+% on a lease seems super high and its making me think i'd be better off purchasing instead ofleasing.

    The numbers I have don't include Washington state - sorry.

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