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Kia Sportage Lease Questions

kyfdxkyfdx Moderator Posts: 236,777
edited May 2015 in Kia
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  • nom2nom2 Member Posts: 13
    I'm looking for November residual and MF on a 2011 Sportage EX for 36 months and 12k/year.

    Thanks,

    Louis
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Louis. Kia's November buy rate lease money factor and residual value for a 36 month lease of a 2011 Sportage EX 4WD with 12,000 miles per year are .00055 and 52%, respectively.

    Car_man
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  • nom2nom2 Member Posts: 13
    Carman,

    Can I have the same numbers for December?
    36 months, 12K miles, Sportage EX

    Thanks
  • nom2nom2 Member Posts: 13
    Carman,

    Forgot to mentions thats for a 2WD EX

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited January 2011
    Hello nom2. Kia's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Sportage EX 2WD with 12,000 miles per year are .00065 and 54%, respectively.

    Car_man
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  • archmodarchmod Member Posts: 7
    Hi Car_man,
    I am looking at both the sportage EX 2WD and LX 2WD to lease for 36 mo. at 15000 miles/year. Could you help me out with MF and residuals currently available.

    Thanks for your time.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi archmod. Kia's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Sportage EX 2WD with 15,000 miles per year are .00065 and 53%, respectively.

    The numbers for an otherwise identical lease of a Sportage LX 2WD are .00104 and 59%.

    Car_man
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  • mnguy1mnguy1 Member Posts: 6
    I am looking at the 2011 Sportage EX AWD to lease for 36 mo. at 15000 miles/year. Could you help me out with MF and residuals currently available?

    Thanks for your help
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I certainly can, mnguy1. Kia's January buy rate lease money factor and residual value for a 36 month lease of a 2011 Sportage EX 4-cylinder AWD with 15,000 miles per year are .00212 and 48%, respectively.

    Car_man
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  • thenestcafethenestcafe Member Posts: 3
    Hi, Car_Man:
    I am looking at lease of Sportage EX for 36 months at 15000 miles/yr.

    What would be the lease rate for March?

    Thank you.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi thenestcafe. Kia Motors Finance's March buy rate lease money factor and residual value for a 36 month lease of a 2011 Sportage EX 4WD with 15,000 miles per year are .00025 and 50%, respectively.

    Car_man
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  • ajpbf7ajpbf7 Member Posts: 92
    Hello Carman,

    Hope you are well. Could you please provide the MF and Residual for the 2011 Sportage SX(2.0T) FWD? I am looking at 36 months, 12k(10k if offered). Thanks very much!
  • mike_in_nepamike_in_nepa Member Posts: 16
    Hi Carman,

    What's the 36 month lease MF and residual rates for a Sportage SX AWD w/ Navigation - 15K miles/year.
  • gt99speedgt99speed Member Posts: 3
    Hello,

    Could someone tell me the money factor Kia is using on their national Sportage program? Vehicle is a model 42222. MSRP of 20,990 including freight. Residual appears to be 57% and cap cost reduction is $1,895. There doesn't appear to be any dealer participation in this though. Am I correct that the national lease program is selling the vehicle at full sticker? Money factor looks to be about .0004. Let me know if my variables seem correct.

    Thanks,

    Jim
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Jim. I believe that the vehicle that is featured in Kia's nationally advertised lease for the Sportage is the Sportage LX 4-cylinder 2WD. Kia Finance's June buy rate lease money factor and residual value for a 36 month lease of this truck with 12,000 miles per year are .00050 and 57%, respectively for consumers who qualify for its top credit tier.

    While I don't think that the selling price of the vehicle that is used in Kia's sample payment for this car is its full MSRP, it's probably close. I strongly suspect that you will be able to negotiate a lower selling price than the one that was used on the advertised vehicle.

    Car_man
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  • mike_in_nepamike_in_nepa Member Posts: 16
    Looking to lease a Sportage SX AWD w/ Premium Package w/Leather Seats & Navigation. What is the money factor and residual for a 36 month lease w/ 15K miles a year? What would the ball park figure be on it out to assuming all taxes and fees are paid up front (Edmunds TMV is 30,594)?
  • mike_in_nepamike_in_nepa Member Posts: 16
    Looking to lease a Sportage SX AWD w/ Premium Package w/Leather Seats & Navigation. What is the money factor and residual for a 36 month lease w/ 15K miles a year? What would the ball park figure be on it out to assuming all taxes and fees are paid up front (Edmunds TMV is 30,594)? I am located in Northeast PA.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mike_in_nepa. Kia's June buy rate lease money factor and residual value for a 36 month lease of a 2011 Sportage SX AWD with 15,000 miles per year are .00042 and 48%, respectively.

    I'd be happy to work up a lease payment on this truck for you if you provide me with its full MSRP and selling price, or at least its MSRP and invoice price.

    Car_man
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  • mike_in_nepamike_in_nepa Member Posts: 16
    Thanks Car_Man.

    Here are the numbers:

    MSRP: $32,490
    Invoice: $30,185
    Edmunds TMV: $30,594

    Again, thanks :)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, mike_in_nepa. Let's crunch some numbers and see what we come up with. According to my calculations, if you were to lease a 2011 Sportage SX AWD that has an MSRP of $32,490 and a selling price of $30,685 through Kia Motors Finance for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $439.

    Car_man
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  • mike_in_nepamike_in_nepa Member Posts: 16
    Car_man, thank you for your help. Parked in my driveway is a brand new 2011 Kia Sportage SX (AWD) model in Signal Red with the Premium w/ Leather Package and the Navigation Package. Great car, and already have 850 miles on the odometer. Thanks again. :)
  • andrewkuhnandrewkuhn Member Posts: 2
    Car Man,

    Good afternoon. I'm looking to set up my Fiance with a 36 Month lease on a Kia Sportage EX (Clear White) in 2 Wheel Drive.

    Trying to figure out what Zero Down (or little down as possible) lease payments would look like for this vehicle and how to get the local dealerships to work with me on this lease. Great Credit (750+ FICO). This'll be our first lease so thanks in advance for your help!

    Andrew
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, mike_in_nepa. Thanks for taking the time to stop back and let us know how everything turned out. Enjoy your new ride!

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome Andrew. Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

    I would be happy to work up a sample lease payment on the exact Sportage that you are interested in for you, but in order for me to do so I need you to provide me with its full MSRP and dealer invoice price. You can find this data over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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  • andrewkuhnandrewkuhn Member Posts: 2
    CanMan,

    Thanks for your help. Read the posts (great help btw as I'm looking to purchase my own used vehicle soon)

    The vehicle in questions is the 2011 Kia Sportage EX in 2WD.

    Full MSRP: $23,990
    Invoice: $22,565

    (Note: There is a $695 Destination Fee built into both of those #'s).

    Thanks again

    Andrew

    PS - What's the best way to find the residual value and MF for vehicles?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome Andrew. According to my calculations, if you were to lease a 2011 Kia Sportage EX 2WD that has an MSRP of $23,990 and a selling price of $23,065 ($500 over dealer invoice) through Kia Motors Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $311.

    I used a money factor of .00027 and a residual value of 51% to calculate the above payment.

    Car_man
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  • recruitsvc1recruitsvc1 Member Posts: 2
    edited July 2011
    Hi--looking for the money factor for 2011 Kia Sportage SX 2WD sticker is $25795 and invoice is $24,070. Want a 36 mo lease with 12K a year...live in Philadelphia, PA. no money down if I can help it. Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi recruitsvc1. Kia's current buy rate lease money factor for a 36 month lease of a 2011 Sportage SX 2WD is .00075 for consumers who qualify for its top credit tier.

    Car_man
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  • cgsteelcgsteel Member Posts: 1
    I'm currently trying to find a great lease deal for a Kia Sportage 2WD - SX model w/ premium package. The MSRP of the car is $29,540 and the price provided by the internet salesperson is $26,540. I would figure that he will try to add on fees but I'm not wanting to pay those fees.

    I was not able to locate the projected ALG residual value for this car but I'm thinking it is around 53%.

    I'm credit rating is 850. What is the best money factor I could get on this car? I'm hoping for an APR of under 1%. Is this even possible?

    I'm needing the dealer to increase the percentage of the residual value on this car because I would like my payments to be below $250 w/ NO out of pocket.

    Am I completely off the mark?

    I know that depreciation in the first year is significant and the cars I'm looking at have been sitting on their lot for over 2 months since I've been checking.

    Let me know what you think.
  • im2bradim2brad Member Posts: 2
    I am somewhat atypical in that I plan to purchase the new vehicle with no financing. My question is what discount to msrp should I expect (in the Columbus, Oh area) on a 2011 v. a 2012 Kia Sportage. Right now, I am considering an EX with Premium Package since I require the following features: heated seats, backup warning, telescoping wheel. I do not require either AWD or Navigation, since I have found that AWD is "overkill" in Columbus and that Navigation changes so often that my iPhone Nav software updates quicker and is always in my pocket anyway. In the past, I have moved up a model in order to access a more powerful engine and depending upon incentives might consider an SX. Thoughts?
  • herko2225herko2225 Member Posts: 6
    The Kia salesman said the 2012 Sportage models have better resale than most cars, but could not give the specific numbers.

    Do you have the money factors and residuals for the 2011 & 2012 and SX models with 12k & 15k in SoCal?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings herko2225. Kia Motors Finance's August buy rate lease money factor and residual value for a 36 month lease of a 2011 Sportage SX AWD with 15,000 miles per year are .00042 and 48%, respectively.

    The residual value for a lease with only 12,000 miles per year would be 1% higher.

    I haven't seen the numbers for the 2012 Sportage yet. I'll have to see if I can find them out for you.

    Car_man
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  • jthewoodjthewood Member Posts: 6
    Car_man,

    For a 2011 Sportage SX, AWD, loaded, is 0.00065 MF and 44% residual a good deal? MSRP on the vehicle is $32740 with a sale price of $29182 before $1500 in rebates. Also, should the lease be calculated on the sale price before or after the rebates are applied?
    Thanks,
    Jason
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Jason. The residual value that you were quoted is correct, but the money factor looks a little high. According to the latest information that I have seen, Kia Motors Finance's buy rate lease money factor for this truck is only .00015.

    I believe that Kia is currently providing a $1,000 cash incentive on leases of this truck.

    Your vehicle's capitalized cost for the purpose of calculating its monthly payment would be the selling price minus any cash incentives that the dealer is giving you.

    Car_man
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  • jthewoodjthewood Member Posts: 6
    WOW! A money factor of .00015 would be great! The dealer is quoting me .00055. Is there any official documentation I could take with me to negotiate a better MF? and, yes, they are giving me the $1K incentive + a $500 rebate I qualify for. All said, final price is $27682 for an SX AWD loaded.
    Jason
  • powermaxxpowermaxx Member Posts: 6
    How much is your monthly payment?
  • powermaxxpowermaxx Member Posts: 6
    I appreciate all the financial terms, but for someone that does not understand math in any way shape or form other than the very basics, it would be great to see:

    Model Leased:
    Option Package Selected:
    Total Actual Cost Paid:
    Monthly Payment:
    Length of Lease:
  • havemercy_xohavemercy_xo Member Posts: 8
    Hey Car_man,

    Can you please tell me what the October lease rates are for a 2011 and 2012 Kia Sportage SX (both 12/k and 15/k per yr mileage)

    Thanks!
  • that1dudethat1dude Member Posts: 1
    edited October 2011
    Hello,

    I am new to leasing and would like to know if this is a good deal. We are looking at a 2012 Sportage EX with the Premium/Nav package. Here is what we were offered:

    - MSRP = $28675
    - Money Factor = .00128
    - Residual = 55%

    After some haggling, they said they could bring our payment down to around $430. I have read that the residual is high and that supposedly is good, but what about the Money Factor? Is this a good idea? I read on this site that the TMV for this vehicle is $27,913. Any feedback would be much appreciated. We may be buying two as well. What kind of additional discount would that warrant? Thank you in advance.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey havemercy_xo. Kia Motors Finance's October buy rate lease money factor and residual value for a 36-month lease of a 2012 Sportage SX 4WD with 15,000 miles per year are .00119 and 50%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a 2011 model are .00015 and 43%.

    The residual value for a lease with only 12,000 miles per year would be 1% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi that1dude. The money factor and residual value that you were quoted for this truck look good. The missing piece of information is its selling price. If I was in the market for a Sportage right now, I personally would shoot for a selling price of a couple hundred dollars over dealer invoice. You can look up this vehicle's exact invoice price over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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  • caddyman7caddyman7 Member Posts: 2
    Hi Carman, I need leasing information on a 2012 Kia Sportage SX. My target price is 29500. I will pay tax and tags up front. There is a 500.00 rebate. I want a 36 month 12,000 mile lease. Could you quote me a payment for the lease? Thanks so much.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi caddyman7. I need both this vehicle's MSRP and selling price to work up a payment for you. let me know what the MSRP is and I'll crunch some numbers.

    Car_man
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  • mamac3mamac3 Member Posts: 3
    Hi,
    I am looking for the January lease money factor and residual for a 36 month lease (12K a year).

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go mamac3. Kia Motors finance's January buy rate lease money factor and residual value for a 36-month lease of a 2012 Sportage EX 4WD with 12,000 miles per year are .00205 and 55%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • bostonbenbostonben Member Posts: 71
    Do you have the current lease numbers for a Sportage EX and SX AWD? 15K miles per year. Thank you!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I certainly do bostonben. Kia Financial Services' February buy rate lease money factor and residual value for a 39-month lease of a 2012 Sportage EX AWD with 15,000 miles per year are .00205 and 54%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a Sportage SX AWD are .00213 and 54%.

    Car_man
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  • trekin97trekin97 Member Posts: 1
    Hey car man looking for lease rates and money factor on a 2012 Kia Sportage EX FWD at 12000 miles. Does the added options or equipment make a difference on these rates? We were at a dealership tonight and felt we were being led in the wrong direction.

    Another question. A dealership lists a 2012 Sportage for sale on Autotrader.com and lists it at a sale price of 19889. (EX FWD with conv. package, msrp of 23650). I went to a local dealership who told me that price was impossible. Not sure who or what to believe..do I drive the hour drive to see if the price is legit or is unlikely not?

    At the local dealership we were quoted $23335 on an EX FWD with Conv. Pkg. Residual after 39 months of 13090. They told us the payment was going to be 379 a month (including $400 negative equity in trade and first months pymt down). The math just did not add up to me.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey trekin97. Kia Financial Services' current buy rate lease money factor and residual value for a 36-month lease of a 2012 Sportage EX FWD with 12,000 miles per year are .00112 and 53%, respectively for consumers who qualify for its top credit tier.

    It's difficult to say whether the selling price that you saw on-line is legit or not. Is it significantly below dealer invoice (you can look up he invoice price of this vehicle here: New Vehicle Pricing)? If so, then there's a good shot that there is some sort of catch. If it's near invoice than it may very well be real.

    Car_man
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  • timmbojtimmboj Member Posts: 123
    Hi Car_Man,

    This may be an atypical request... What are the MFs and Residuals for a 24-Month lease on an 2012 SX AWD with 12K miles per year?

    Thank you.
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