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2014 Kia Sorento Lease Questions

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  • kyfdxkyfdx Posts: 27,921

    @pikaru said: I feel like the dealer is trying to make some money on me. For a 2014 SXL FWD 36 months/12k mi I believe my credit score is 720+ while my wifes is around 800, they quoted us a money factor of .00119. Also, they said the residual value is 44% here in TX. Can anyone verify their numbers?

    They are quoting you the 48 month, 12K/yr numbers, not the 36 month numbers..

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  • pikarupikaru Posts: 6

    So is that like almost exactly 48 month numbers? I called my salesman IMMEDIATELY after you posted this. He says he'll have one of the finance guys call me back or he'll send me the numbers. Thanks so much!

  • pikarupikaru Posts: 6

    And, just so I don't keep telling them I'm getting my information from Edmunds, where do you guys actually pull your data? Straight from Kia? If you don't mind me asking.

  • pikarupikaru Posts: 6

    None of this looks right to me because they still haven't corrected the fact that, like you guys said, they're quoting me 48 month numbers and charging Doc fees and what not. Which were never mentioned. Also, am I supposed to mention gap insurance? I'm looking over the lease worksheet they sent me and it says no gap.

    1. MSRP 41345
    2. Times the residual value percentage X 44%
    3. Equals the residual value = 18191.80
    4. Negotiated Price: $35600 5 .Minus the residual (from line 3) – 18191.80
    5. Equals the depreciation over 36 months = $17408.20
    6. Depreciation (line 6) divided by term in months ÷ 36
    7. Equals the monthly depreciation payment = $483.56
    8. Net capitalized cost (From line 4) $35600
    9. Plus the residual (From line 3) + $18191.80
    10. Equals = $53791.80
    11. Times the money factor X 0.00119 (Top Tier Credit)
    12. Equals money factor (interest) payment portion = $64.01
    13. Monthly depreciation payment (from line 8) $483.56
    14. Plus money factor payment portion (from line 12) + $64.01
    15. Equals bottom-line monthly lease payment = $547.57
    16. PA state sales tax x .0625 = $34.22
    17. 36-month lease payment = $581.79

    If they won't fix the 36 vs 48 month thing I guess I'll have to find another dealer.

  • kyfdxkyfdx Posts: 27,921

    Those are the exact 48 month, 12K/yr numbers. And yes, they come from Kia.

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  • lildeanlildean Posts: 14

    Pikaru - Check the sales tax amount of .0625. For example, Allegheny county is 10% and Butler county is 9.0%. That's where there might be a difference in numbers.

  • kmart00kmart00 Posts: 16

    Can you tell me what the residual value and money factor in NJ would be on a 2014 LX v4 with touring package?

    I am seeing Edmunds TMV $34k.. is that what things are selling for?

  • kyfdxkyfdx Posts: 27,921

    @kmart00 said: Can you tell me what the residual value and money factor in NJ would be on a 2014 LX v4 with touring package?

    I am seeing Edmunds TMV $34k.. is that what things are selling for?

    .00105 MF and 55% residual for 36mo, 12K/yr

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  • kmart00kmart00 Posts: 16

    thanks! what about @ 15k a year?

  • MichaellMichaell ColoradoPosts: 3,604

    @kmart00 said: thanks! what about @ 15k a year?

    Deduct 2% from the residual for 15K.

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  • 2014 Sorento LX V6 and EX trims? 48mo/12K in Colorado? Also, a 60 month lease fits nicely with a 60K warranty. Can you even lease one of these at that term? If so, I'd appreciate those numbers too. Thank you.

  • AWD on all those numbers as well...shouldn't have assumed you knew that from Colorado...

  • MichaellMichaell ColoradoPosts: 3,604

    @dealbreaker1 said: 2014 Sorento AWD LX V6 and EX trims? 48mo/12K in Colorado? Also, a 60 month lease fits nicely with a 60K warranty. Can you even lease one of these at that term? If so, I'd appreciate those numbers too. Thank you.

    No 60 month numbers available from Kia - though I suspect you wouldn't like them even if they are available.

    48/12:

    LX AWD - .00119 and 47%; $2000 lease cash

    EX AWD - .00133 and 47%; $2000 lease cash

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  • mcquistonmcquiston Posts: 7

    Looking to lease a 2015 EX v6 with touring package and credit for the third row. MSRP $34,990 less $1750 rebate plus additional lease rebate of $250 making the final price $32,990. Three year, 12k miles (I wanted 20k but they said they don't do 20k leases) quoted Lease residual at 50% and the money factor at .00142 payment roughly $420 including tax, tags, fees with $2000 cap cost. They claim there are no Titanium cars in this configuration so I would have to compromise on color. Do these numbers sound right to you? My calculations don't add up to this, I get a higher payment. Any room to negotiate? I don't want to put $2000 down, max $1000 so I know that will change the numbers a bit. In Pennsylvania with credit score around 720-740 depending where it's pulled from.

  • kyfdxkyfdx Posts: 27,921

    @mcquiston said: Looking to lease a 2015 EX v6 with touring package and credit for the third row. MSRP $34,990 less $1750 rebate plus additional lease rebate of $250 making the final price $32,990. Three year, 12k miles (I wanted 20k but they said they don't do 20k leases) quoted Lease residual at 50% and the money factor at .00142 payment roughly $420 including tax, tags, fees with $2000 cap cost. They claim there are no Titanium cars in this configuration so I would have to compromise on color. Do these numbers sound right to you? My calculations don't add up to this, I get a higher payment. Any room to negotiate? I don't want to put $2000 down, max $1000 so I know that will change the numbers a bit. In Pennsylvania with credit score around 720-740 depending where it's pulled from.

    If you have good credit, I show an MF of .00096 and a residual of 59% for 36mo, 12K/yr. with $1000 of lease cash. (assuming AWD).

    So, no.. the numbers don't sound right, at all. Plus, you'd want a lower selling price than MSRP minus the rebates.. If you wanted 20K/yr, I'm surprised they didn't quote you the 15K/yr number, at least (57% residual).

    Oh wait... now, I figured it out.... they quoted you a 48 month lease.. .00142 MF and 50% residual for 48mo, 12K/yr lease... still with $1000 lease cash. Seems like you could get a comparable payment for 36 months..

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  • mcquistonmcquiston Posts: 7
    I pressed for better numbers and here is what they sent me
    Lease - 36 mos. 12k 15k
    MSRP: 35,770 35770 35770
    Your Price 34,990 -780 -780
    Taxes 861 861 861
    Fees 247.50 247.5 247.5
    Rebates 2,000 -2000 -2000
    Out the door price 34098.5 34098.5
    Cash Paid -1000 -1000
    $33,098.50 $33,098.50
    Residual 59% 57%
    Money Factor 0.00101 0.00101
    Mo pmt (incl tax/fees) 430 441
    Excess mileage rate $0.20 $0.20

    After this I got them to knock off another $500 but it is FWD not AWD which is ok. I'm going to do the 15k if these numbers look good
  • kyfdxkyfdx Posts: 27,921

    Okay.. that's for a 36 month lease, right?

    Those are the base numbers with no markups, so that's good. If you are happy with the selling price, that's the only number left to negotiate.

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  • mcquistonmcquiston Posts: 7
    Thanks kyfdx for your input, it's really nice to have someone who knows looking at the numbers. Yes that's for 36 months, they did say there is a new program for 39 months, same MF and residual and Kia pays the last 3 months so the monthly payment is lower without costing anymore - have you heard of this? Also confirmed they give extra miles for those three months.
  • kyfdxkyfdx Posts: 27,921

    @mcquiston said: Thanks kyfdx for your input, it's really nice to have someone who knows looking at the numbers. Yes that's for 36 months, they did say there is a new program for 39 months, same MF and residual and Kia pays the last 3 months so the monthly payment is lower without costing anymore - have you heard of this? Also confirmed they give extra miles for those three months.

    I don't have any information on 39 month programs, but our Kia information is pretty limited.

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  • flcarguy62flcarguy62 Posts: 19
    edited July 7

    Do you guys have the residual and MF numbers for a FWD EX at 36 months for - 10K and 12K? Thanks

  • kyfdxkyfdx Posts: 27,921

    Sorry.. we don't have the Kia numbers for July... yet.

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  • flcarguy62flcarguy62 Posts: 19

    Do you guys have the July lease incentives, residual and MF numbers for a FWD EX with touring package at 36 months for - 10K and 12K? Thanks for all the help as I struggle through finding a small crossover SUV for my wife.

  • MichaellMichaell ColoradoPosts: 3,604

    @flcarguy62 said: Do you guys have the July lease incentives, residual and MF numbers for a FWD EX with touring package at 36 months for - 10K and 12K? Thanks for all the help as I struggle through finding a small crossover SUV for my wife.

    2014? .00029 and $2000 lease cash. 53% for 36/12; no 10k numbers from Kia.

    I wouldn't call the Sorento small - it does have three rows of seats. The Sportage is the small SUV from Kia.

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  • nomad317nomad317 Posts: 13

    Trying to find July MF/Lease Cash/Residual on EX AWD w/ Touring Pkg. 36mo or 24 mo, 12k (or 10k if available) in Indiana. Thanks!

  • MichaellMichaell ColoradoPosts: 3,604

    @nomad317 said: Trying to find July MF/Lease Cash/Residual on EX AWD w/ Touring Pkg. 36mo or 24 mo, 12k (or 10k if available) in Indiana. Thanks!

    2014 or 2015?

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  • nomad317nomad317 Posts: 13
    edited July 15

    @Michaell said: 2014 or 2015?

    Hmmm, both I suppose. Thanks

  • MichaellMichaell ColoradoPosts: 3,604

    @nomad317 said: Trying to find July MF/Lease Cash/Residual on EX AWD w/ Touring Pkg. 36mo or 24 mo, 12k (or 10k if available) in Indiana. Thanks! 2014 and 2015

    2015 - .00050 and $1000 lease cash. 58% residual for 36/12. No 24 month numbers.

    2014 - .00021 and $2500 lease cash. 53% residual for 36/12. No 24 month numbers.

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  • flcarguy62flcarguy62 Posts: 19

    @Michaell said: 2014? .00029 and $2000 lease cash. 53% for 36/12; no 10k numbers from Kia.

    What about a 2015 FWD EX with touring package at 36 months for - 12K? Thanks

  • MichaellMichaell ColoradoPosts: 3,604

    @flcarguy62 said: What about a 2015 FWD EX with touring package at 36 months for - 12K? Thanks

    .00054 MF; same residual

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