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Kia Cadenza Lease Questions

kyfdx%40Edmundskyfdx%40Edmunds Posts: 25,869
Ask your Cadenza lease questions here!

Moderator - Prices Paid, Lease Questions, SUVs

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Comments

  • gsim6784gsim6784 Posts: 3
    Can you help with money factor information and residual values for the new 2014 Kia Cadenza.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Sure gsim6784. Kia Financial Services' June buy rate lease money factor and residual value for a 36-month lease of a 2014 Cadenza with 15,000 miles per year are .00091 and 59% for consumers who qualify for its top credit tier.

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

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • carchick5carchick5 Posts: 3
    What would be a good deal for a 36 month lease with 12 k miles a year? I did not want to go over 349. A month for the lease payment. It's the luxury package I am looking at for the 2014 Cadenza.
    Thanks
  • gsim6784gsim6784 Posts: 3
    I can share the deal that we were able to get. After competitive car bonus and Kia lease bonus, the car (with the luxury package) was $33,630. We did a $0 upfront lease through Kia and the monthly rate is $391.19.

    Did the Smokey Blue exterior and Beige interior. A very good looking car.
  • carchick5carchick5 Posts: 3
    Thanks. That helps me.
  • crestonavecrestonave Posts: 219
    I would love to get some opinions on my ideas for what I should offer.

    I just looked at a white guy with white leather. Impressed, although I haven't driven the car yet. Sticker is 41900 with destination (loaded). I am thinking as follows:

    If I can get 4% off sticker that brings me to 40224. With the 1500 incentive from Kia plus a trade worth 2000 I would put down 3500. My tax rate is 8.63% (Suffolk County NY). The money factor is .00091 (2.184%). With a 59% residual comes to 24721. I make the payment for 36 mos to be 333.44 without tax, 362.22 with.

    Does this sound doable? Should I start here? Any thoughts, comments or suggestions would be most appreciated. Thank you!!!!!!!!!!!!!!!!!
  • carchick5carchick5 Posts: 3
    I signed my lease last night. I did 3 k at signing and first month payment of 349.88. It's the premium package and sticker was almost 40k with tax. 12 k a year. Really cool car. Silver with black napa leather interior.
  • tictac3tictac3 Posts: 78
    Got a "base" model with black on black. 12K/36mos. Gave me $500 over book on my 2011 Sonata SE and a conquest bonus for my wife's Maxima lease. $329/mo all in.
  • xkwmxkwm Posts: 6
    Can someone tell me what the lease payment would be? MSRP = $42,105.
    Dealer will lease for 40,105 - $2500 in incentives = Net cap of $37,605. Money factor of 0.00091 for 15,000 mile 36 month lease. Putting down $3500 cash also. Thanks! Told residual factor is 59% for 15k a year.
  • aceravaacerava Posts: 2
    I have a 2011 Optima on lease right now and of course the lease expires next year. I have seen the new optima and I like it EXCEPT for the lights being strangely misaligned in the back. My lease on a fully loaded SX is 446/mo. with their "Insurance". Im looking into an A4, CC, 2014 Optima or the Cadenza. I see you have all gotten your monthly payments BELOW mine which is weird. How or what can I get that out of a cadenza with 446/mo or less? Is it possible? I dont like base model cars.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey xkwm. The money factor and residual value that you were quoted are spot on.

    Let's crunch some numbers and see what we come up with. According to my calculations, if you were to lease a 2014 Kia Cadenza that has an MSRP of $42,105 and a capitalized cost of $37,605 through Kia Financial Services right now for 36-months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $412.

    You definitely do not want to put $3,500 down on a lease. If your vehicle is totaled for insurance purposes there's a good chance that the money that you paid at signing essentially disappears.

    If you were to make a $2,500 capitalized cost reduction (at least $1,000 of what you're paying at signing is going to first month, fees, etc...), it would lower this car's monthly payment to around $340.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • xkwmxkwm Posts: 6
    Car Man,

    How do you keep from getting screwed? This is what the salesman sent me:

    Thanks for stopping by again this afternoon. This is Matt Smith at Hart Kia. I have looked up the chances of finding or getting you a Cadenza in here and I have found one that I am hopeful I could get. The MSRP of it is 42105. I also calculated out the figures of the lease and what it would cost. The lease is 36 month, residual with 15k miles a yr is 59%, and the money factor is .00091. I can sell you the car 40100. That is $2005 off and allows us to earn 960 off of the Cadenza and on a lease all the earning for us is only what we have as profit unlike regular purchases. This will also include 1500 lease cash and a competitive or loyalty rebate of 1000.



    12000 Miles year 15000 Miles a year

    3500 only down 365 388





    3500+ 1st payment 354 376
  • xkwmxkwm Posts: 6
    Car Man,

    I was with you on the first part where you said my payment would be $412. I hear you on the second part about cap cost reduction of $3500. When you came back with your example of $2500 with only $1,000 actually going as cap cost reduction, your math got fuzzy. There was no way that I could get downto $340 with $2500 down and assuming that only $1,000 went to the lease.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi xkwm. If the dealer that you are currently working with is quoting you unreasonably high payments for this car you probably should comparison shop with a few other dealers.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    I think that you misunderstood what I was saying. I meant that $2,500 of the $3,500 was a capitalized cost reduction with a grand probably going to fees and first payment.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • xkwmxkwm Posts: 6
    Okay thanks. I made the deal. The difference was the taxes, almost $1300. I feel good about the deal and the car is unbelievable. Thanks for your help!
  • ken117ken117 Posts: 178
    Best not to put any down payment on a lease. You risk losing it if the vehicle is totaled. Make sure the lease includes GAP. If not, check with you insurance company. Dealers grossly overprice their GAP products
  • xkwmxkwm Posts: 6
    All Kia's and Hyundai's have built in GAP protection. I don't see how GAP protection would help you if you put a large down payment on your car. What am I missing here? Seems like GAP would come into play when the insurance company is paying LESS than what you owe on the lease.
  • Car_man,

    Can you tell me the residual for 12k miles/yr lease and 10k miles/yr lease (36 months lease)? I'm looking for '14 Cadenza with luxury pkg.

    Also - Is the MF still 0.00091?
  • jefk56jefk56 Posts: 4
    Hey, just wanted to thank all on here for the helpful info, as I leased a 14 Cadenza, that I already extremely like. 345 mo, includes taxes and 15k mi per year, 36 mo. I put 3145 down and that included 1st payment and aqu. fee. This was the Smokey blue w/ beige interior, lux and tech pkgs with mats, cargo tray, nets ,splash guards, door edges, etching and a couple other goodies. Own a 13 Sonata limited (wifes)very happy with that, figured this as Kia's entry to "semi lux", therefore leased and can't get burned if it has any flaws down the road. All scheduled maintenance is also covered.
    I felt it was a very solid deal for a msrp of 42.1k.
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