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Kia Optima Lease Questions

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Comments

  • rob233rob233 Posts: 10
    No, and its a lease not a purchase. With several calculators it seems to be a decent deal.

    Again, an EX with Premium package, tint and spare tire/kit

    39 months at 247.50

    2500 down

    residual = 56% MSRP is 27,500
  • trusso69trusso69 Posts: 68
    msrp 27500
    spare tire kit is 150-200
    tint is ??? - they are probably not including tint in the residual value; means you are paying for that outright

    27500 * 0.56 = 15400
    earlier you posted: "13,753 residual value"

    sorry but this is not a good deal
  • rob233rob233 Posts: 10
    I appreciate your help, but in reading all of the other posts, reading various articles, doing calculations, why is it not a good deal?
  • rob233rob233 Posts: 10
    franko,

    So you put 2k down and are paying 259.00 for 36 months

    What is your residual- what would you owe at the end of the lease if you wanted to purchase it?

    I am leasing same car, but for 247.50 for 39 months and residual is 15,400
  • trusso69trusso69 Posts: 68
    how did 27500 msrp become 29445 retail value?
    why are they charging you tax on the entire amount instead of only the lease payment as is proper in AZ?
    how much is the tint and how are you paying for it?
    why is there BOTH a doc fee of 399 (BS) and a dealer fee of 199?
    you MAY qualify for BOTH the conquest bonus of 1000 plus there is another 1000 of lease bonus cash; they only gave you 1500 of it

    should i go on?

    dealers TRY to make leasing complicated but it is just math
    use this easy calculator:
    http://www.leaseguide.com/calc.htm
    If you can't get the numbers to work out close to what they gave you, then something is wrong.
  • trusso69trusso69 Posts: 68
    I am NOT trying to be a [non-permissible content removed]; I'd like you to get a good deal.

    This guy francko said:
    "Did not qualify for any of the rebates (loyalty or competitive)"

    You qualify for $2000 (minus tax) of current incentives. that's ~$47 per month on a 39 month lease. Adjust his deal accordingly if you are trying to compare...
  • trusso69trusso69 Posts: 68
    why you don't make a large down payment on ANY lease:

    from the forum moderator:
    "Your friend was right about not putting money down on a lease. I always advise consumers not to make any sort of down payment on leased vehicles. Consumers who put money down risk losing part or all of that money if their vehicle is totaled in an accident or stolen and never recovered. "
  • rob233rob233 Posts: 10
    No, I know, I do appreciate everything.

    So, we have an EX with Premium package at 27,500 MRP and Arizona has a 7% tax

    What should I come back with in your opinion?
  • trusso69trusso69 Posts: 68
    i get 293 per month (39 months) including 7% tax using that calculator.
    Add in the state minimum reg. fees and that is your out-the-door amount.

    EXAMPLE: If Arizona reg fees are $300. You would offer $593 now + 38 additional payments of $293
  • rob233rob233 Posts: 10
    and with that a 15,400 residual value is reasonable?

    Thanks
  • trusso69trusso69 Posts: 68
    edited March 2013
    Here's the detail numbers I used for your review:
    msrp 27500; sell 25500 (includes dealer fees)
    costs added to lease: 795 (595 acq fee, 200 tint)
    credits 1850 (lease bonus 1000, conquest bonus 1000; adjusted for tax)
    56% residual is set by KMF (Kia Motor Finance)
    money factor 0.00105 is also set by KMF
    39 month term; 7% state tax rate on the lease payment only
    Plugged all this into that lease calc and came up with the $293 payment
    All you need to add is the Arizona DMV fees (estimated 300 in the example; are they really that high?)

    take some time to digest all that...GL
    i'll be back in a few hours
  • rob233rob233 Posts: 10
    Yes, AZ tags are very expensive. I worked on it and will be picking one up today-NO money down and 288.00 per month! Thanks for your help.
  • Hi,
    I just made a deal on a lease, haven't signed anything yet. It is an Optima EX with Premium package, my money down was my trade of which I received an equity of $1500. (after payoff). My monthly rate at 12000 miles/yr and 36 months = $304.

    Is this a good deal?
  • trusso69trusso69 Posts: 68
    Have you read posts 389 through 408?
    I think your payment is too high considering you are putting down 1500
    If you haven't signed anything, then the deal is not done...
  • I ended up getting a lease for a 2013 Nissan Altima , 1200 miles, no money down, sign and drive for $235 a month in NY. So for a Kia that sounds like a lot of money. I would consider looking into other vehicles.
  • kaarona1kaarona1 Posts: 6
    I already qualify for the $2,000 competitor rebate... Is there another $1,000 lease incentive offered by Kia Finance Company??

    Thanks
  • kaarona1kaarona1 Posts: 6
    What is the difference in residual value when you go from 12k miles per year to 15k miles per year on Optima SX? I know that 12k per year = 56% residual... what is 15k per year?
    thanks
  • trusso69trusso69 Posts: 68
    typically, 15k is 2% less then 12k for most car makers...
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    sven_4, Kia Financial Services' current buy rate lease money factor and residual value for a 36-month lease of a 2013 Optima SX with 12,000 miles per year are .00061 and 56% 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: 38,515
    Hi florenceva. I dont think that there is a 2013 Optima Hybrid yet...at least there isn't a lease program on it yet. If you want to lease one, you'll have to go with a 2012 model.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Yes :).

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • cali92cali92 Posts: 12
    Does anyone know the money factor and residual for a 2013 Optima LX for a 2 year lease with 12000 miles a year?
    Thanks
  • drwoobindrwoobin Posts: 1
    Hi Car_man,

    Can you find out the March money factor for 2012 Optima Hybrid on a 36-month lease? I believe the residual is 55% for 12k / year, please check this also.

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi cali92. Kia Financial Services' March buy rate lease money factor and residual value for a 36-month lease of a 2013 Optima LX with .00074 and 58% for consumers who qualify for its top credit tier.

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

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Yes I can drwoobin. Kia Financial Services' March buy rate lease money factor and residual value for a 36-month lease of a 2013 Optima Hybrid with 12,000 miles per year are .00079 and 55% for consumers who qualify for its top credit tier.

    Kia is providing a $1,500 cash incentive on leases of this car. Make sure to take this cash into account when negotiating your vehicle's capitalized cost.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • hotboy34hotboy34 Posts: 1
    I know some of you all are from up North and the Kia's are higher up there. Have you look at the dealer ship down south in GA, because they are cheaper down their. My wife and I brought the 2013 LX Sorento with the Convience Package and it was $25,000. The warranty is good but we got gap, and added a extended warranty because of our driving and came out with a 471.00 payment. I know the Kia in Albany, GA will have your car driven to you are ship to you ladies and gentlemen.
  • The deal I have been offered is 36mo, 15000k/yr $399.00 mo. Is this a good deal? I have no clue?
  • carmania5carmania5 Posts: 1
    edited April 2013
    Hello I was offered a Kia Optima 2013 EX (fully loaded) at $325 the lease. 12K 36 months, No money down(except taxes, fees, DMV, etc.). Do you think this is a good deal?

    By the way this is a New York KIA Dealer.
  • jssxl13jssxl13 Posts: 1
    Wife just leased 2013 optima SXl for 232.00 . Was this a good deal here are the numbers.
    Msrp 35,645. Sale price 32,279- trade in 3,189 -rebates 3,000 -term 36 months -residual 56 percent
    Money factor .00101 -Acquisition fee 595 -and registration , inspection deal fee was 277.45 . Payed taxes upfront don't know if that was a wise idea. Any thoughts on this deal.
  • vickifavickifa Posts: 3
    Hi Car_man, can you post the money rate and residual on Optima SXL, 36 months, 10k miles per year?
This discussion has been closed.