2016 Kia Sorento Lease Questions

kyfdx

dustin1228 said:

Can I have  Arizona numbers for the limited v6 AWD/FWD? Thanks

36mo, 12K/yr

FWD: .00096 MF and 58% residual
AWD: .00095 MF and 59% residual.

$1000 lease cash

sboscar

Hi! I looking for the money factor, residual, lease cash for both a Sorento LX (FWD, 4 cyl) and EX (AWD, 6 cyl), 36 months/12,000 miles per year in Massachusetts. Thanks!

Michaell

sboscar said:

Hi! I looking for the money factor, residual, lease cash for both a Sorento LX (FWD, 4 cyl) and EX (AWD, 6 cyl), 36 months/12,000 miles per year in Massachusetts. Thanks!

LX FWD 4-cyl - .00109 and 62%

EX AWD V6 - .00151 and 65%

No lease cash

mtmitchell5

I am looking for lease payments on 2016 Sorento - EX 2.0T - MSRP 34,075 and Sale price - 27,809

Could you please help me out.. Thanks in advance. I am a beginner on negotiating leases and would love some help.

Michaell

mtmitchell5 said:

I am looking for lease payments on 2016 Sorento - EX 2.0T - MSRP 34,075 and Sale price - 27,809

Could you please help me out.. Thanks in advance. I am a beginner on negotiating leases and would love some help.

What lease term and how many miles per year?

mtmitchell5

both 24 and 36 months at probably 12k miles.. MAYBE 15, but most likely 12 is fine.

mtmitchell5

Michaell said:

I am looking for lease payments on 2016 Sorento - EX 2.0T - MSRP 34,075 and Sale price - 27,809 Could you please help me out.. Thanks in advance. I am a beginner on negotiating leases and would love some help.

What lease term and how many miles per year?

both 24 and 36 months at probably 12k miles.. MAYBE 15, but most likely 12 is fine.

Michaell

mtmitchell5 said:

Michaell said:

I am looking for lease payments on 2016 Sorento - EX 2.0T - MSRP 34,075 and Sale price - 27,809

Could you please help me out.. Thanks in advance. I am a beginner on negotiating leases and would love some help.

What lease term and how many miles per year?

both 24 and 36 months at probably 12k miles.. MAYBE 15, but most likely 12 is fine.

Sorry, one last question ... what state is this? Kia numbers are regional.

mtmitchell5

Michaell said:

Michaell said:

I am looking for lease payments on 2016 Sorento - EX 2.0T - MSRP 34,075 and Sale price - 27,809 Could you please help me out.. Thanks in advance. I am a beginner on negotiating leases and would love some help.

What lease term and how many miles per year?

both 24 and 36 months at probably 12k miles.. MAYBE 15, but most likely 12 is fine.

Sorry, one last question ... what state is this? Kia numbers are regional.

Indiana 

Michaell

mtmitchell5 said:

Michaell said:

mtmitchell5 said:

Michaell said:

I am looking for lease payments on 2016 Sorento - EX 2.0T - MSRP 34,075 and Sale price - 27,809

Could you please help me out.. Thanks in advance. I am a beginner on negotiating leases and would love some help.

What lease term and how many miles per year?

both 24 and 36 months at probably 12k miles.. MAYBE 15, but most likely 12 is fine.

Sorry, one last question ... what state is this? Kia numbers are regional.

Indiana 

Perfect, thanks.

OK, the 24/12 numbers are .00064 and 67%, $1000 lease cash.

36/12 is .00099 and 62%. No lease cash.

With your MSRP and sale price, I get a 24 month payment (pre-tax) of $241.38 and a 36 month payment (pre-tax) of $234.07

sebastian10

mtmitchell5 said:

Michaell said:

mtmitchell5 said:

Michaell said:

I am looking for lease payments on 2016 Sorento - EX 2.0T - MSRP 34,075 and Sale price - 27,809

Could you please help me out.. Thanks in advance. I am a beginner on negotiating leases and would love some help.

What lease term and how many miles per year?

both 24 and 36 months at probably 12k miles.. MAYBE 15, but most likely 12 is fine.

Sorry, one last question ... what state is this? Kia numbers are regional.

Indiana 

Hi, would you share the dealer address?

drancid

Hi.
I'm looking for a lease payment for

2016 Sorento SXL 2.0T w/Tech package,
10k/12k miles for 24/36 months.

I'm in California.
Thank you in advance.

kyfdx

drancid said:

Hi.
I'm looking for a lease payment for

2016 Sorento SXL 2.0T w/Tech package,
10k/12k miles for 24/36 months.

I'm in California.
Thank you in advance.

Assuming FWD?

24/12: .00041 MF and 62% residual. $2500 lease cash
36/12: .00080 MF and 57% residual. $1000 lease cash

Can't estimate a payment without the MSRP and selling price

rakeinfools

Hi, 
the money factor, residual, and lease cash for Ex, 4 cylinder FWD in Arizona 36/12. The sticker was just over 33000, they said they were taking ~3k off and it would zero down and $350/mo. How does this sound. (The guy didn't seem very straight forward though) 

thank you in advance! 

kyfdx

rakeinfools said:

Hi, 
the money factor, residual, and lease cash for Ex, 4 cylinder FWD in Arizona 36/12. The sticker was just over 33000, they said they were taking ~3k off and it would zero down and $350/mo. How does this sound. (The guy didn't seem very straight forward though) 

thank you in advance! 

.00086 MF and 60% residual. No lease cash.

rakeinfools

kyfdx said:

Hi, 
the money factor, residual, and lease cash for Ex, 4 cylinder FWD in Arizona 36/12. The sticker was just over 33000, they said they were taking ~3k off and it would zero down and $350/mo. How does this sound. (The guy didn't seem very straight forward though) 

thank you in advance! 

.00086 MF and 60% residual. No lease cash.

Does the Ex turbo change the numbers at all? 
Thank you 

bossman141

Need some help.

Considering leasing a 2016 Kia Sorento LX 2.4 4 cyl AWD.

I am upside down on my trade by approximately $6,500. I financed the entire amount of my current vehicle including the extended warranty which was a mistake.

My wife and I are not happy with the vehicle and would like to get out of it.

I am planning to pay $5000 OOP toward the lease to eat up as much negative equity as possible.

The MSRP is $30080 with a selling price of $28080 and a Competitive cash offer of $1000 bringing the cost of the Sorento to $27080.

I was quoted a 64% Residual with a .00095MF. We are in the state of NY.

The dealer is giving me these monthly prices.

36/12K - $438 a month or 48/12 - $405 a month.

Every calculator that I use says that the monthly on the 36 month term should be more like $373.

Can someone shed some light on this? I do not feel comfortable with these numbers.

Thanks

Michaell

rakeinfools said:

kyfdx said:

rakeinfools said:

Hi, 
the money factor, residual, and lease cash for Ex, 4 cylinder FWD in Arizona 36/12. The sticker was just over 33000, they said they were taking ~3k off and it would zero down and $350/mo. How does this sound. (The guy didn't seem very straight forward though) 

thank you in advance! 

.00086 MF and 60% residual. No lease cash.

Does the Ex turbo change the numbers at all? 
Thank you 

Those are the turbo numbers.

Michaell

bossman141 said:

Need some help.

Considering leasing a 2016 Kia Sorento LX 2.4 4 cyl AWD.

I am upside down on my trade by approximately $6,500. I financed the entire amount of my current vehicle including the extended warranty which was a mistake.

My wife and I are not happy with the vehicle and would like to get out of it.

I am planning to pay $5000 OOP toward the lease to eat up as much negative equity as possible.

The MSRP is $30080 with a selling price of $28080 and a Competitive cash offer of $1000 bringing the cost of the Sorento to $27080.

I was quoted a 64% Residual with a .00095MF. We are in the state of NY.

The dealer is giving me these monthly prices.

36/12K - $438 a month or 48/12 - $405 a month.

Every calculator that I use says that the monthly on the 36 month term should be more like $373.

Can someone shed some light on this? I do not feel comfortable with these numbers.

Thanks

.00095 and 64% are the 36/12 numbers for the LX AWD 4-cyl.

Using your MSRP and final cost, I get a pre-tax payment of $261.48.

I would ask the dealer what the net capitalized cost is - I'm guessing that part of the $5000 OOP is going to taxes, fees, etc, and that the remainder is applied to the negative equity.

May I ask - other than the strong dislike, why not stick with your current car and work to get out of the negative equity situation?

bossman141

I'm not sure that you are factoring in the $6500 in negative equity. I come up with around $373 a month.

I purchased a 2013 Prius V wagon. My wife hates the car. Hates the way it brakes, hates the way it accelerates, and hates the way it handles the snow. It's my fault. I should have had her drive it before I bought it.

Michaell

bossman141 said:

I'm not sure that you are factoring in the $6500 in negative equity. I come up with around $373 a month.

I purchased a 2013 Prius V wagon. My wife hates the car. Hates the way it brakes, hates the way it accelerates, and hates the way it handles the snow. It's my fault. I should have had her drive it before I bought it.

You're right - I'm not. Only because I don't know how much of it was actually being applied to the new lease, and how much is going to the up front fees, taxes, etc.

What is the net cap cost of the lease quote?

Every $1000 of negative equity will add about $28/mo to your payment, pre-tax.

bossman141

Net cap cost was 27080. $30080 reduced to 28080 with a 1000 competitive rebate

Michaell

bossman141 said:

Net cap cost was 27080. $30080 reduced to 28080 with a 1000 competitive rebate

So where did the $1500 go that wasn't covered by the $5K you put down?

bruincstone

Hey Michaell/Moderators - other Sorento Lessee People

I'm in Southern California. Attempting to get best deal on a 2016 EX V6 (7 passenger) or a 2016 EX V6 (7 Passenger) with Premium Package.

The Best Price I've been quoted so far was via True Car, 29400.

The best deal I've seen so far is 0 down/0drive off and 369/month or 2000 down 300/month for EX premium.

Are there any other big deals going on?

If I use the 29400 number as sales price, msrp of 32745, 60% residual value and a MF of .00086, and I'm going for a 36 month, 12,000/year lease then...

So 271/month depreciation value + 42/month finance = 313/month (not including taxes)

Now, I know I'm not including all the fees, but just checking with moderator, shouldn't that be what I can get based on that sales price? Are my MF and Res value correct?

and if I can get 313/month, is that a good deal?

Are there any major incentives I should know about or leverage?

Thanks!!!

bruincstone

UPDATE:
Best offer so far is 2000/down on a purchase price of 29300. Also added the competition rebate off the original offered price of 30300.

Also updated the MF to the appropriate MF for the EX V6 Passenger.

New MF: .00138,

So with the math, that ends up at 2000 down, 280 month before taxes.

Thoughts?

kyfdx

bruincstone said:

UPDATE:
Best offer so far is 2000/down on a purchase price of 29300. Also added the competition rebate off the original offered price of 30300.

Also updated the MF to the appropriate MF for the EX V6 Passenger.

New MF: .00138,

So with the math, that ends up at 2000 down, 280 month before taxes.

Thoughts?

So... that's the offer from the dealership? Is the $2000 the amount due at signing, or just a CAP cost reduction, with other costs added?

bruincstone

Yeah. Does not include all the initial costs so actual monthly is more. One dealer suggested a 24 month because then you get another 1000  lease rebate, or 48 months to make monthly lower. Anyone have numbers on that in terms of MF or residual?

Thanks

kyfdx

bruincstone said:

Yeah. Does not include all the initial costs so actual monthly is more. One dealer suggested a 24 month because then you get another 1000  lease rebate, or 48 months to make monthly lower. Anyone have numbers on that in terms of MF or residual?

Thanks

24/12: .00115 MF and 68% residual. $1000 lease cash
36/12: .00138 MF and 63% residual
48/12: .00151 MF and 55% residual

bruincstone

Thanks for those numbers.I think we are going with 30000 purchase price minus 1000 competition rebate, with taxes and other fees.and.$1500 down comes out to 325/month. What do you think? 

Anyone know why the kia website lists the ex v6 with an msrp of 31800 but at dealership it's 32750?

Michaell

bruincstone said:

Thanks for those numbers.I think we are going with 30000 purchase price minus 1000 competition rebate, with taxes and other fees.and.$1500 down comes out to 325/month. What do you think? 

Anyone know why the kia website lists the ex v6 with an msrp of 31800 but at dealership it's 32750?

Destination fee?

bruincstone

Already included 

Michaell

bruincstone said:

Already included 

I'm out of ideas, then. Is this the price n the factory sticker or on the dealer website?

bruincstone

Sorry. I am dumb. Yes the difference is the dest fee which I confused with the acquisition fee.

Thoughts on deal?

Michaell

bruincstone said:

Sorry. I am dumb. Yes the difference is the dest fee which I confused with the acquisition fee.

Thoughts on deal?

What lease term and mileage?

bruincstone

3 years 12000

Michaell

bruincstone said:

3 years 12000

I get $301 before tax so $325 looks pretty solid. 

bruincstone

Thanks so much, Michaell. I appreciate you and the other moderators like Kyfdx taking the time to provide this feedback. So helpful.

I'll let you know how things end up when it is all over.

mikecass2286

Can I get the lease numbers for a 2016 Kia Sorento SX V6 w/ AWD in Staten Island, NY? I'm looking at a 36mo/12K lease. Also, can you please let me know of any incentives for July? Thanks!

kyfdx

mikecass2286 said:

Can I get the lease numbers for a 2016 Kia Sorento SX V6 w/ AWD in Staten Island, NY? I'm looking at a 36mo/12K lease. Also, can you please let me know of any incentives for July? Thanks!

I don't have the Tri-State numbers, but I'll give you what I do have for most of the country... it should be close.

.00143 MF and 64% residual. $1500 lease cash

bruincstone

yeah, the incentives just changed today. or did not change, but technically the old ones expired and there are new ones, although they may not be applicable to me.

Previously, I was hoping to take advantage of the 1000 competitor cash and maybe the 24 month lease with high credit of 1000 lease cash.

Are both of those still around? Is there any update on lease cash for the 36 month for an EX
v6?

I looked on the kia.com site and i don't see the competitor cash, but i know not all offers are on the site. anyone know what other offers might apply for the 2016 Sorento EX V6?

Thanks

bgkob

In southeastern Wisconsin, after some haggling with three area Kia dealers,  the best deal I am seeing is 0 down, $330/month all in (fees/taxes included) for a 2016 LX with third row/conv. package, 4 cylinder. 

Seems OK,  but I just don't know. 

bruincstone

So what is the sales price of the car on the offer sheet, bgkob?

bgkob

If I remember correctly it was either $26,700 or $26,900. Oh, and our sales tax is 5.6%. 

Michaell

bgkob said:

If I remember correctly it was either $26,700 or $26,900. Oh, and our sales tax is 5.6%. 

MSRP? Lease term and miles per year? $330/mo might be a good quote, but we won't know until we have all the numbers.

bgkob

Michaell said:

If I remember correctly it was either $26,700 or $26,900. Oh, and our sales tax is 5.6%. 

MSRP? Lease term and miles per year? $330/mo might be a good quote, but we won't know until we have all the numbers.

What ever the MSRP is for a LX third row / convience package is..? $30-31k, right? Maybe $29k. 

36 month/12,000 miles per year. 

Michaell

bgkob said:

Michaell said:

bgkob said:

If I remember correctly it was either $26,700 or $26,900. Oh, and our sales tax is 5.6%. 

MSRP? Lease term and miles per year? $330/mo might be a good quote, but we won't know until we have all the numbers.

What ever the MSRP is for a LX third row / convience package is..? $30-31k, right? Maybe $29k. 

36 month/12,000 miles per year. 

You can use the pricing tools at the top of the page - make / model / year - to get the MSRP.

If I use $31,000 as the MSRP and $26,900 as the selling price, along with the 36/12 lease numbers of the Sorento LX AWD of .00092 and 63%, I get a payment of $261.29/mo with tax.

bgkob

Michaell said:

Michaell said:

If I remember correctly it was either $26,700 or $26,900. Oh, and our sales tax is 5.6%. 

MSRP? Lease term and miles per year? $330/mo might be a good quote, but we won't know until we have all the numbers.

What ever the MSRP is for a LX third row / convience package is..? $30-31k, right? Maybe $29k. 

36 month/12,000 miles per year. 

You can use the pricing tools at the top of the page - make / model / year - to get the MSRP. If I use $31,000 as the MSRP and $26,900 as the selling price, along with the 36/12 lease numbers of the Sorento LX AWD of .00092 and 63%, I get a payment of $261.29/mo with tax.

Not AWD...  

looks like the MSRP from Kia site is $29,300 for the model. My credit score is in the low 800s too...now it seems like a bad deal...idk. 

Michaell

bgkob said:

Michaell said:

bgkob said:

Michaell said:

bgkob said:

If I remember correctly it was either $26,700 or $26,900. Oh, and our sales tax is 5.6%. 

MSRP? Lease term and miles per year? $330/mo might be a good quote, but we won't know until we have all the numbers.

What ever the MSRP is for a LX third row / convience package is..? $30-31k, right? Maybe $29k. 

36 month/12,000 miles per year. 

You can use the pricing tools at the top of the page - make / model / year - to get the MSRP.

If I use $31,000 as the MSRP and $26,900 as the selling price, along with the 36/12 lease numbers of the Sorento LX AWD of .00092 and 63%, I get a payment of $261.29/mo with tax.

Not AWD...  

looks like the MSRP from Kia site is $29,300 for the model. My credit score is in the low 800s too...now it seems like a bad deal...idk. 

.00072 and 61% 36/12 on the Sorento LX FWD. Now I get $299/mo.

bruincstone

I think you can get a better price bgkob.

bruincstone

oh, one last thing, if you know you want a certain color, i'd bargain most directly with the dealer that has the car you really want. otherwise, if another dealer asks that dealer for the car, the one with the car might say no since they've been bargaining with the same person. I, for example, probably spoke to too many dealers.

Good luck!