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Kia Optima Lease Questions

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Comments

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi ralphantonelli. While it is difficult to predict exactly what a manufacturer's future incentives will be like, Kia's current incentive program is scheduled to run through the end of April. I would be surprised if its program for the Optima is much different next month than it is today. The dealer is probably just trying to get you to wait on buying because they don't have what you want in stock.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi Milo. Kia Financial Services' March buy rate lease money factor and residual value for a 36-month lease of a 2012 Optima SX with 15,000 miles per year are .00060 and 53%, respectively for consumers who qualify for its top credit tier.

    Kia is currently providing a $1,000 cash incentive on leases of this car.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • tazz11tazz11 Posts: 1
    edited March 2012
    Hi Car_man,

    Can you please provide current lease residual and money factor info for both the 2012 Optima EX and 2012 Optima LX (36 months & 12K miles)? I'm located near Tampa. Also, is the $1,000 lease cash offered in my area?

    You are providing an extremely valuable and much-appreciated service on this forum!

    Thank you in advance!!
  • edizzy86edizzy86 Posts: 3
    Hi,

    I noticed in your post you mentioned the $1000 lease cash. My question is if I can use that with competitive cash and loyalty cash? I have a another kia and im trading in a mazda 3 which matches the competitive cash guidelines. This would be for lease on a SX premium pack.
  • crfabcrfab Posts: 7
    Thanks Car Man. Do you know what they are for April as I am planning to pull the trigger this month.
  • Hi,

    I am also interested in April's numbers (residual/interest) for a 2012 Kia Optima SX Premium. 36 months at 15k miles a year.

    Also, what are the current incentives/rebates? I'm a current Kia owner.
  • Hi Car_man,

    I'm about to finish a deal for the 2012 Optima SX Turbo fully loaded, with tech and premium package. They've added wheel locks, all weather floor mats, rear bumper applique, cargo net, tinted windows, and remote start. In the deal there's a 2 year free maintenance included.

    I'm getting the $1,000 of competitive incentive. Dont remember very well on the final negotiated price, but the Lease comes out to be $448 per month, 36 months and 15K miles, nothing down, just registration fees, $200 bucks.

    I've been shopping around in nyc, and got very similar prices, but without all the features.

    Is this a good deal? I see a lot of people on this forum talking about payments within the 350-400 range.

    I'd appreciate your comments, or anyone's comments. Thanks!
  • johngettlerjohngettler Posts: 12
    edited April 2012
    Just thought it might be helpful if I share the numbers from my recently completed Optima lease. This was at a Minneapolis dealership, and was signed on March 30th. This was the best price quote after emailing all of the local dealerships to give their lowest possible quote on the same vehicle. I think I got a great deal, and this car is *amazing* for the price.

    2012 Kia Optima SX with Premium Touring Package in Satin Metal

    Price Specs:
    MSRP $ 30,345
    * minus $1,000 rebate for lease cash
    * minus $1,000 rebate for comp vehicle (2009 Civic lease)
    * minus dealer discount $1,452
    Final Sale Price $26,893

    Lease Specs:
    36 months/ 15,000 miles per year
    Money Factor of 0.00060 (x2400 = 1.44%)
    Residual Percentage of 0.53

    Payment:
    Final actual monthly payment amount **$ 299.15 per month**
    * includes tax, title, and license.
    * with $1000 cash given at signing
  • edizzy86edizzy86 Posts: 3
    That's a great deal! I am having trouble getting dealers near me to even come close to that deal. Dealers are not willing to move on price saying they can move optima's quick! Not to mention limited inventory.
  • glayfan40glayfan40 Posts: 20
    Just finished a deal at an MA dealership, details below,

    MSRP (sticker) - $27170
    Negotiated Sales Price - $24500
    Trade-in Balance Owed - $2685
    Gross Cap Cost - $27185
    Cap Cost Reduction - $2000
    Adjusted Cap Cost - $25185
    Residual - $14943.5 (55%)
    Monthly Payment - $312.58 + 19.54 (MA Tax @ 6.25%) = 332.12
    Total Out-of-Pocket - $1200 (includes TTL, acquisition, doc & 1st payment)

    Hope this helps!!!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're welcome crfab. Kia Financial Services' April buy rate lease money factor and residual value for a 36-month lease of a 2012 Optima SX with 15,000 miles per year are still .00060 and 53%, respectively for consumers who qualify for its top credit tier.

    Kia is currently providing a $1,000 cash incentive on leases of this car.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi theericharris1. Please see my previous post for the lease information that you're looking for.

    Kia is providing a $1,000 cash incentive on leases of this car to everyone and an additional $1,000 for loyal customers.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey atticus23. There's just too many variables for me to tell how good a deal this is off of the top of my head. It would be much easier for me to evaluate this deal if I knew what this car's MSRP and selling price are. Do you have these numbers?

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi johngettler. Thanks for taking the time to give back and share the details of your deal with everyone! Real-world examples like this are always helpful for others who are in the market for similar vehicles. Enjoy your new ride :shades: .

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • barrylibarryli Posts: 3
    New York lease completed today. MSRP: $28,615. Selling price: $27,600. Rebates: $1000 customer cash, $1000 competitive cash, 36 mos/12,000 miles. White with beige interior. $2000 downpayment (First month, title, taxes, etc), residual 57%, MF 0.00070, $299 a month. Whites are very hard to come by, not the best deal here but not the worst either, I'm quite pleased how it went. Looking forward to now actually driving my new Optima.
  • rp8rp8 Posts: 8
    @ Car_Man - is the MF for the Optima EX now .00070? and residual 57%? I thought the April MF was still .00109 and MF 58% (same as March). Please let me know.
  • barrylibarryli Posts: 3
    As an addendum final lease price was $293, not $299 as quoted. Car was leased from Lash Kia in White Plains, an easy negotiation and experience all around. No complaints at all. Enjoying my Optima, did a ton of research and think it was the best value for the $.
  • rp8rp8 Posts: 8
    Car_Man - is the MF for the Optima EX now .00070? and residual 57%? I thought the April MF was still .00109 and MF 58% (same as March). Please let me know.
  • How did I do?

    MSRP: $24220
    Negotiated Price: $22383
    Incentives: $1000
    Net Price: $21383
    MF: .00051
    RV:56%

    $0 down
  • Here is what one dealer out of town gave me today... Most dealers in the town where i live are marking them up anywhere from $995 to $1995. and then adding tinted windows, hood deflectors, and a ton of other add ons... This has been the only dealer who has been up front and not adding any dealer markup over sticker...

    Can't tell to much from the number since they are giving me more for my trade than its worth to make the numbers better.

    But damn i want this car especially when the payment would only be about $20 more than the focus i was looking at with my xplan...

    msrp. 30415.
    cap cost. 30415.
    trade. 15000. (i owe 13,000)
    rebates. $2000.
    residual 53% 16119.95
    money factor. .00021
    title. 225.
    tire & batt. 6.50
    efs. 24.
    dealer fee. 699
    capped acq fee. 595.
    term 36
    miles. 36,000
    first payment. 6/5/2012
    inception fees: 3950.
    adjusted cap: 28467.31
    total working cash: 3950.
    payment: 373.48 (incl tax)

    Tried to get one of the other deals posted but they said they could sell me the car for that $28,000 (roughly) but they could not lease me the car for invoice or under invoice since i was leasing and since i was not putting money down they had to roll money....

    If i put $1,000 down my payment would go down to $339. But even the salesman said i could invest that $1,000 and get a better return on money...=)

    How does that deal look?
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