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Kia Optima Lease Questions

kyfdx@Edmundskyfdx@Edmunds Posts: 25,965
Ask your Optima lease questions here!

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  • trenztrenz Posts: 9
    Can anyone tell me the March lease rates for a 2011 Optima EX. The MSRP is $23,190 and the invoice is $21,715. This is for 36 months and 10,000 miles per year.
    Thank you
  • dkgsxdkgsx Posts: 8
    Looking for current lease parameters (residual value %, money factor, acq. fees, etc.) for a fully optioned 2011 Optima SX with MSRP of $30,925 , annual miles are less than 9000, for a 36-month lease. Is there a 24-month lease available? If so, I would be interested in the same set of lease data...

    Thanks in advance!
  • trenztrenz Posts: 9
    I guess this is not a popular leasing car at the moment but I just completed a deal and have some numbers to offer.

    Base Ex, 12,000 miles is 53% and .001 for a 36 month lease
    EX Turbo, 12,000 miles is 54% and .00092 for 36 months

    acquisition fee is $595

    Hope this helps somebody
  • dkgsxdkgsx Posts: 8
    I am getting initial numbers of 51% residual on SX, 0.00034 MF, $592 acquisition fee.

    Not sure if 51% is right for SX for March...
  • trenztrenz Posts: 9
    If this is for 36 months and 12,000 miles I am not sure. That MF is very good, less than 1% interest . Just from comparing the EX to EX Turbo it would seem that the residual and MF gets better as the trim line goes up. Could you have gotten numbers for a longer lease than 36 months or for more miles than 12,000, as that might explain the lower residual than the Ex's I listed? I am in New Jersey but not sure if that matters.
  • dkgsxdkgsx Posts: 8
    the numbers were for a 36-mo. lease in CA. But, being the first set of numbers, I don't trust them much, as the dealer, when I pushed him later, said 53% was possible.

    From my on-line observations, higher-optioned models usually have lower residual... 53% is quoted on the Kia's web site (Nov-2010 press release and in the current LX lease offer).

    0.00034 MF seems on par with Sonata models (same parent co.).

    Despite lease money ($1000) and customer cash ($500), this particular dealer seems unwilling to get "selling price" below the invoice (but above cost)...
  • lamronh49lamronh49 Posts: 86
    LX auto, sticker $21,285, 36 month 12,000 miles per year, rate .00137, residual .53, adj. residual $11,281. There is $1000 KIA money on leases, and $500 loyalty, competitor, or active military money. Plus the dealer sent out a postcard worth $500.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi trenz. Kia Motors Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Optima EX with 12,000 miles per year are .00060 and 53%, respectively for consumers who qualify for its top credit tier.

    I'm not sure if KMF offers leases with 10,000 miles per year, but if it does its residual values for that mileage allowance is likely 1% higher.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Here's the information that you're looking for, dkgsx. Kia Motors Finance's March buy rate lease money factor and residual value for a 36 month lease of an Optima SX with 12,000 miles per year are .00034 and 51%, respectively.

    I don't believe that Kia is currently offering 24-month leases of this car. I don't think that it offers leases with 10,000 miles per year, but if it does its residual values for that mileage allowance are 1% higher.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • mwahlertmwahlert Posts: 11
    What are the residual and MF for a 2011 Optima SX w/ Navigation - 36mths, 15k?

    Thank you!
  • jmcmbzjmcmbz Posts: 42
    Hi, does anybody have April MF and Residual for a 3year 12K lease on the Optima EX w/ nav? I see they are still offering $500 conquest and $1000 lease cash. Anyone getting $1500 below invoice? Much appreciated!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hello mwahlert. Kia's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Kia Optima SX with Navigation and 15,000 miles per year are .00034 and 50%, respectively.

    When negotiating your deal on this car, make sure to take advantage of the $1,000 cash incentive that is currently available on leases of it.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Jmcmbz, Kia's April buy rate lease money factor and residual value for a 36 month lease of a 2011 Optima EX w/Navigation and 12,000 miles per year are .00060 and 53%, respectively.

    Yes, the lease cash and conquest cash are still available.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • sgt253sgt253 Posts: 6
    Looking at this vehicle. Been quoted a sale price of $23,600.00 plus ttl on an MSRP of $25,440.00. I believe this a fair price. Would anyone know the current buy rate lease money factor and residual for 15k miles? I certainly would appreciate it.
  • sgt253sgt253 Posts: 6
    Car Man, I sure would love your help.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi sgt253. Kia Motors Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Kia Optima EX with 15,000 miles per year are .00065 and 50%, respectively for consumers who qualify for its top credit tier.

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

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • sgt253sgt253 Posts: 6
    THANKS Car_Man! You are the best! I really appreciate this information. Best regards.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're very welcome, sgt253. I'm glad that I was able to help you out.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • tschaitschai Posts: 14
    Just leased one today in CA and noticed that Item #6 on the lease agreement under Estimated Official Fees and Taxes has $1960 next to it. Is this something I'm paying as part of my monthly payment or a bill coming in the mail later? My monthly payment already has sales/use tax in there but they still don't add up to $1960 over 3 years.

    The actual section reads:
    The total estimated amount you will pay for official and license fees, registration, title and taxes over the term of your Lease, whether included with your monthly payments or access otherwise: $1960 (e) The actual total of fees and taxes may be higher or lower depending on the tax rates in effect or the value of the Vehicle at the time a fee or tax is assessed.

    The section under itemized amount due at signing listed:
    Registration Fees: $295
    Upfront Taxes: $220
    Title Fees: N/A
    Opt. DMV Filing Fee: N/A
    Doc Fee: $55
    CA Tire Fees: $8.75
    Lease acquisition fee: N/A

    Lease acqquisition fee of $595 is listed under gross capitalized cost.

    I'm so afraid that I might have gotten duped since the dealer asked for only $1k at sign off and that's all I gave to them. Just want to get some ideas before calling the dealer tomorrow.

    Thanks!
  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,965
    edited May 2011
    It's just an estimate of what is built into the lease... except, I believe you'll have to pay registration fees each year you have the lease.... or, the leasing bank will have to pay them, and you'll have to reimburse them.

    You've already paid almost $600 in taxes and fees upfront.. We don't know the tax in your monthly payment, but you'll have to pay registration each year.... I'd say the $1960 isn't far off (and, doesn't include the acq.fee).

    regards,
    kyfdx

    Moderator - Prices Paid, Lease Questions, SUVs

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