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Kia Optima Lease Questions



  • Hey guys. Dont if this is gonna help anyone but i just got a 2013 kia optima sx turbo with pleather seats heated front and rear no money down for 282 a month for 39 months... Money factor was 0.00096 residual value $16000 12k miles per year. Other than a little tire noise and small amount of engine noise car is awesome! I live in north va and sales tax was rolled into monthly payment and i was given $2000 competitor bonus because i switched from a cadillac. I also got $1000 first time buyer and $500 because auto show was in town the week i got the car. All in all i think i got a good deal!
  • bwaabwaa Posts: 13
    I agree, that is a good deal. Thumbs up!
  • rob233rob233 Posts: 10
    Optima ex with Premium package- tint and spare tire and kit included

    2500 down

    39 months at 247.00

    13,753 residual value

    What do you think?
  • trusso69trusso69 Posts: 68
    edited March 2013
    need msrp, sell price, # months, residual % and money factor to calculate lease data. Seems high to me at the moment.

    Have you checked the current incentives for the Optima?
    what do you drive now?

    Lastly, you should NOT make big down payments on ANY lease. Maximum o-t-d should be less than $500 in every case ection=customer_rebates_irr
  • rob233rob233 Posts: 10
    retail value- 29,445.00
    5900.00 in discounts
    selling price- 23,543
    2089.00 sales tax
    1000.00 - doc, registration, etc fees
    26,635.00 total price

    waiting on money factor and %, will get back to you-thanks
  • trusso69trusso69 Posts: 68
    what state are you in? tax seems high
    msrp and retail value are NOT the same; should be closer to 28k msrp
    1000 for fees is ridiculous
    is this a kia lease?
  • rob233rob233 Posts: 10
    yes, from a Kia dealer

    I am in Arizona

    money factor is .00105, residual 56%
  • trusso69trusso69 Posts: 68
    looks like they inflated the retail value with something;
    i meant is this a Kia motor finance lease vs a bank lease?
    doc fee is completely negotiable in AZ
    still seems very high; if you get me the msrp, i can show you
  • rob233rob233 Posts: 10
    2013 NEW KIA OPTIMA 4D SEDAN EX AUTO (53242)
    12000 STOCK NO
    Lease Options
    Term $1000.00 $1500.00 $2000.00 $2500.00
    39 $289.12 $274.73 $261.01 $247.30

    Total Retail Value: $29445.00
    Discount: $-4402.00
    Factory Rebate: $-1500.00
    Selling Price: $23543.00
    Trade Allowance: $0.00
    Trade Difference: $23543.00
    Sales Tax: $2089.30
    Dealer Doc. Fee: $399.00
    Registration Fee (est.): $399.80
    Other Fees: $5.00
    Dealer Defined Fees: $199.00
    Subtotal: $26635.10
    Pay-Off of Trade: $0.00
    Service Contract: $0.00
    Total Cash Due: $26635.10
  • trusso69trusso69 Posts: 68
    that's a purchase, not a lease

    Have you signed this deal yet?
  • 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

    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:
    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?

This discussion has been closed.