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2014 Kia Sorento Lease Questions

steverstever Viva Las CrucesPosts: 41,633
edited January 29 in Kia
Welcome to Edmunds discussion dedicated to 2014 Kia Sorento Lease Questions.

Here you can find and discuss all the latest lease details for the 2014 Kia Sorento, including cap costs, money factors, residual values, acquisition fees, etc. Please post any leasing questions you have or any details you’d like to share about your own lease deals.

You can also research local dealer inventory and pricing, reviews, features, and specifications, on our Kia Sorento page.

To see all forums discussions about the Kia Sorento, including earlier model years, please visit our list of Kia Sorento discussions.

Navigation tips: To see the most recent information and activity, make sure to visit the latest post, which may be a few pages ahead. Click the pages numbers just below to go to a new page in the discussion -- or search the entire discussion by clicking the magnifying glass icon and entering keywords.

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Minivan fan. Feel free to message or email me - stever@edmunds.com.

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Comments

  • xterra24xterra24 Posts: 2
    edited October 2013
    Hello Car Man,

    I'm writing to you as I found the information you have been providing extremely useful. I'm in the process of purchasing a 2014 Kia Sorento SX Limited and here are the numbers:
    MSRP - $40,080
    Rebate - $5,000
    Trade-in - $4,000
    Tax/Title/Tags - $776
    Docking or Doc Fee - Waived ($595)
    Total Cost - $31,356
    Money Factor - .00348
    Residual - 54% or $21,643.20

    The question I have is the money factor. My credit is a little shaky so I know I will take a hit for that, but .00348 seems steep. My score is 614 with Kia Motors.

    Any advice that you can give would be helpful and ideally a good number to go back at as far as the money factor to counter them with would be great! Also, if the numbers I provided seem like a good deal?
  • kyfdxkyfdx Posts: 30,594
    I don't have the October numbers, but generally, Kia Finance money factors just blow up when your FICO score is below 640... The .00348 they quoted you is probably about the lowest they can offer.. At 680+ you can get top tier rates..

    I'd either wait until you can get your score up.... or, try another make of vehicle, to see if the rates are better..

    regards,
    kyfdx

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  • My lease ends in December. I'd like to get another Kia Sorento, and I don't know what to expect as far as lease parameters for CT. I'm looking for a Sorento EX all whell drive with heated seats and navigation.
    Can you help?
  • jaymnjaymn Posts: 1
    Thanks in advance for your help!

    Can you help with the money factor and residual for a lease in MN
    MSRP: 43005
    Price: 35194
    15K miles/yr for 36 mos.
    690 Credit score w/ zero down

    What's a ballpark payment?
  • kyfdxkyfdx Posts: 30,594
    2014 Sorento Limited AWD (?) 36mo, 15K/yr lease
    .00052 MF and 54% residual

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Hi Car man,

    Can you provide rates for a 24 and 36 month lease on a 2014 SX AWD with 12k/yr? Thank you.
  • Nevermind. I just received the following rates from the Kia salesman:

    To lease a 2014 Sorento SX AWD, Tier 1 customer is qualified for 0.00058 money factor. Sorento 3 year leasing program with 12k miles has 56% residue value.

    Apparently no 24 month rates.
  • kyfdxkyfdx Posts: 30,594
    Yes.. those are the same rates that I show..

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  • Please provide all the Tiers and their respective money factors for a 2014 SXL Sorento.
  • kyfdxkyfdx Posts: 30,594
    2014 SX Limited AWD
    Tiers 1-4 have a money factor of .00006
    Tiers 5-6 MF = .00106
    Tier 7 = .00285

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • scottn12scottn12 Posts: 1

    Do you have the current money factor,residual, and incentives for 2014 sx and sx awd? Tier 1 Credit.

  • kyfdxkyfdx Posts: 30,594

    Sorry... we didn't get the January numbers for Kia.

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  • lkslks Posts: 4

    Hello. I am realizing we did not get enough information from the dealer to make an informed lease purchase. We are currently looking at a 2014 Sorento SX AWD V6. The MSRP is $39,270. I forgot to take the worksheet with me, but he quoted me the invoice pricing. We are trading in our 2011 Sorento LX 2WD (with convenience package, 3rd row, and leather) for $16,500 with about $13K left on our finance plan. So that gives us about $3K to put down. We have Tier 1 credit as well. He also said we qualified for $3K in incentives and quoted us a monthly payment of $392. Does this sound right??? Thanks!

  • lkslks Posts: 4

    I forgot to say that we live in Kansas and I think he said the residual is 55% for 12K mileage for 36 months.

  • kyfdxkyfdx Posts: 30,594

    I don't have much information on the Kias for this month. But, he is accurate about the $3000 of incentives. ($2000 customer cash + $1000 owner loyalty).

    I'm sorry that I don't have more information for you.

    MODERATOR
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  • lkslks Posts: 4

    Could you give me a ballpark based on December numbers? I just need to know if we are in the right place. Thanks!

  • kyfdxkyfdx Posts: 30,594

    I'm sorry, but I no longer have access to the December numbers..

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  • lkslks Posts: 4

    Hmmm. What do you suggest I do to figure out whether I should go with this deal?

  • rysterryster Posts: 521

    @lks said: Hmmm. What do you suggest I do to figure out whether I should go with this deal?

    Based on online lease calculators, the $392/month price seems way high.

    MSRP $39,270 Trade equity $3,500 Customer cash $2,000 Loyalty $1,000 Adjusted total $32,770

    Residual value of 55% of $39,270 = $21,598.50

    $32,770-$21,598.50 = $11,171.50 (actual total of lease)

    $11,171.50 + 6.15% sales tax = $11,858.55

    So, before interest is figured in you are at $329.40 per month on a 36 month lease.

    The only way to hit the $392 from that point is if they are using a money factor of .0011, which is what Tier5-6 customers were reportedly paying in November.

    If you have Tier1 credit, I think you should be paying $30-$50 less per month than $392.

  • lafon16lafon16 Posts: 2

    Do you have apr numbers for tier 1-4 and MF for Feb on the LX V6 AWD with convenience pkg?

  • kyfdxkyfdx Posts: 30,594

    @lafon16 said: Do you have apr numbers for tier 1-4 and MF for Feb on the LX V6 AWD with convenience pkg?

    1.9% for 37-60 months for Tiers 1-3.

    .00141 MF for 36 month leases for Tiers 1-4.

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  • lafon16lafon16 Posts: 2

    sorry forgot about residual for 36months in Detroit, MI? ?

  • kyfdxkyfdx Posts: 30,594

    @lafon16 said: sorry forgot about residual for 36months in Detroit, MI? ?

    63% for 36mo, 12K/yr lease

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  • mrny1mrny1 Posts: 11

    Do you have March mf & residual information for 12k/yr & 15k/yr leases? Thank you.

  • kyfdxkyfdx Posts: 30,594

    @mrny1 said: Do you have March mf & residual information for 12k/yr & 15k/yr leases? Thank you.

    Sure... which Sorento model?

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  • mrny1mrny1 Posts: 11

    SX Limited and EX; thank you

  • MichaellMichaell ColoradoPosts: 7,389

    @mrny1 said: SX Limited and EX; thank you

    One more question - FWD or AWD?

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  • MichaellMichaell ColoradoPosts: 7,389

    @mrny1 said: AWD

    Thanks - 36 month numbers:

    SXL - .00047 and 53% for 12K. 51% for 15K

    EX - .00079 and 56% for 12K. 54% for 15K

    $1500 lease cash available for both

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  • mrny1mrny1 Posts: 11

    One more request, can you send the April numbers for the AWD EX & SX for 12/15K miles for both 2014 & 2015 models; thanks again.

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