2015 Kia Sorento Lease Questions

car421car421 Member Posts: 6
edited May 2015 in Kia

To research local dealer inventory and pricing, reviews, features, and specifications, see Edmunds 2015 Kia Sorento page.

I am working with a local dealer on a lease of a 2015 Kia Sportage Base LX 4 cyl. with the Convenience package and cargo tray. I am in NC and here are the #'s I am getting from the dealer:
Gross Capitalized cost 27822
Net Capitalized cost 25058.30
Money Factor is .00059
Monthly Tax 8.39
No money down - 288.04 for 36 months and a payoff of 13203.26
My wife and myself have very good credit so I'm not sure how good that money factor is.
How do these #'s look?

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  • kyfdxkyfdx Moderator Posts: 207,779

    Is it a Sportage or a Sorento?

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  • car421car421 Member Posts: 6

    Sorry, Sorento

  • kyfdxkyfdx Moderator Posts: 207,779

    @car421 said:
    I am working with a local dealer on a lease of a 2015 Kia Sportage Base LX 4 cyl. with the Convenience package and cargo tray. I am in NC and here are the #'s I am getting from the dealer:
    Gross Capitalized cost 27822
    Net Capitalized cost 25058.30
    Money Factor is .00059
    Monthly Tax 8.39
    No money down - 288.04 for 36 months and a payoff of 13203.26
    My wife and myself have very good credit so I'm not sure how good that money factor is.
    How do these #'s look?

    2015 Sorento LX FWD:

    .00059 is the base MF and the residual is 58% for 36mo, 12K/yr.

    Hard to calculate without the MSRP... By "payoff", do you mean residual? Or, is this a balloon note, instead of a lease? Because a 58% residual would be higher than that number, I think.

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  • car421car421 Member Posts: 6

    It is a lease. I have been trying to get the dealer to itemize the #'s. Payoff is what is due at end of the lease.

  • kyfdxkyfdx Moderator Posts: 207,779

    @car421 said:
    It is a lease. I have been trying to get the dealer to itemize the #'s. Payoff is what is due at end of the lease.

    Try to get the MSRP. That residual seems low for a 36 month lease. Almost makes me wonder if they are quoting a longer term.

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  • car421car421 Member Posts: 6

    The original quote was 299 month for 48 months and I told them I would not do a 48 month lease only a 36 month lease. The 288 was the requoted payment for 36 months

  • kyfdxkyfdx Moderator Posts: 207,779

    @car421 said:
    The original quote was 299 month for 48 months and I told them I would not do a 48 month lease only a 36 month lease. The 288 was the requoted payment for 36 months

    I think that residual number is left over from the 48 month quote, but can't know for sure, without the MSRP.

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  • car421car421 Member Posts: 6

    27290 msrp. Sale price of 26500, 599 admin fee, 595 aquisition fee,128 tag and license. 25058.30 net cap cost - cap reduction of 2763.70 - 1500 rebate and 1263.70 trade equity.

  • kyfdxkyfdx Moderator Posts: 207,779

    I get about $281/mo. for 36mo, 12K, using .00059 MF and 58% residual. (residual is $15,828, by the way. Their other number was the 48 month residual).

    So, your only contribution is the $1263.70 trade equity? Looks pretty solid.

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  • car421car421 Member Posts: 6

    Their trade offer is low and the assumed equity is off. Carmax appraised the car at 15k and they are offering 14800. Most websites have the trade higher than both but I should have at least 2k in trade equity. I also feel I can work on the price now that I have the itemized costs. I was really hoping to be in the 240 range. The trade is a 2012 optima ex with trunk mat. 33000, all service done at dealer I am working with along with purchasing the car there. Car is in exellent shape.

  • mcquistonmcquiston Member Posts: 33

    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.

  • mcquistonmcquiston Member Posts: 33

    @mcquiston said:
    ...MSRP $34,990 less $1750 rebate plus additional lease rebate of $250 making the final price $32,990.00

    Actual MSRP is $35,770.00 dealer sale price is $34,990.00 - same rebates and final price

  • garden54garden54 Member Posts: 27

    Can anyone tell me what the best lease they've received in Northern/Central NJ for a new Kia Sorento.4 or 6 cyl; leather, nav and sunroof; no money down and 12K miles yearly??

  • greenie1greenie1 Member Posts: 8

    @garden54 said:
    Can anyone tell me what the best lease they've received in Northern/Central NJ for a new Kia

    Sorento.4 or 6 cyl; leather, nav and sunroof; no money down and 12K miles yearly??

    garden54
    Got a quote for an EX with touring minus the 3rd row. $410 plus $1750 for tax, tile, registration. 3yr 36k miles.

  • rferraro21rferraro21 Member Posts: 26

    what are the specific cost details for a 2015 sorento sx, mf residual etc?

  • kyfdxkyfdx Moderator Posts: 207,779

    @rferraro21 said:
    what are the specific cost details for a 2015 sorento sx, mf residual etc?

    Term? Mileage? FWD/AWD? State of residence?

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  • rferraro21rferraro21 Member Posts: 26

    Sorry, 36 months, 12k miles per year, FL, fwd, thank you

  • kyfdxkyfdx Moderator Posts: 207,779

    @rferraro21 said:
    Sorry, 36 months, 12k miles per year, FL, fwd, thank you

    .00027 MF and 56% residual. $1000 lease cash.

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  • carqguycarqguy Member Posts: 13

    Hey There gentlemen.

    Trying to figure out if I have some wiggle room here.

    Quoted out the following on a 2015 FWD/AWD respectively. Both with 3rd row + convenience.

    FWD - 373.96
    AWD - 378.89

    FWD
    -Agreed Value: 28310
    -Additional Cap (License fee + Acquisition): 845
    -1122.52 in cap reduction
    -Net cap: 28032.48
    -Lease Term: 39 months
    -RV: 15570.50
    -Base Payment 343.08
    -Tax: 30.88
    Total: 373.96

    AWD
    -Agreed Value: 30090
    -Additional Cap (License fee + Acquisition): 845
    -1117.99 in cap reduction
    -Net cap: 29817.01
    -Lease Term: 39 months
    -RV: 16549.50
    -Base Payment 347.61
    -Tax: 31.28
    Total: 378.89

    They are offering 1750 in rebates (1122.52 of which is the cap reduction above for FWD and 1117.99 for AWD). The rest is made up of First PMT, Doc Fee (150),(Lice/reg 2.50), and Taxes (~100)

    At face value it looks like a decent deal.. but I'm really fighting to get my payments closer to $300 a month. I feel like something is fishy here and that any reduction I'm getting is basically just cancelling out the fees and not truly getting me closer to invoice pricing on things.

    Any bargaining suggestions to get the payments down some more?

    I have the invoice for the AWD rendition. MSRSP is 25900, dealer cost 25027. Convenience package 2200/2025, 50/50 seat 1000/930.

    $895 in destination/freight/handling
    MSRSP 3090/29236

    Thanks!

  • MichaellMichaell ColoradoModerator Posts: 206,110
    edited August 2014

    @carqguy said:
    Hey There gentlemen.

    Trying to figure out if I have some wiggle room here.

    Quoted out the following on a 2015 FWD/AWD respectively. Both with 3rd row + convenience.

    FWD - 373.96
    AWD - 378.89

    FWD
    -Agreed Value: 28310
    -Additional Cap (License fee + Acquisition): 845
    -1122.52 in cap reduction
    -Net cap: 28032.48
    -Lease Term: 39 months
    -RV: 15570.50
    -Base Payment 343.08
    -Tax: 30.88
    Total: 373.96

    AWD
    -Agreed Value: 30090
    -Additional Cap (License fee + Acquisition): 845
    -1117.99 in cap reduction
    -Net cap: 29817.01
    -Lease Term: 39 months
    -RV: 16549.50
    -Base Payment 347.61
    -Tax: 31.28
    Total: 378.89

    They are offering 1750 in rebates (1122.52 of which is the cap reduction above for FWD and 1117.99 for AWD). The rest is made up of First PMT, Doc Fee (150),(Lice/reg 2.50), and Taxes (~100)

    At face value it looks like a decent deal.. but I'm really fighting to get my payments closer to $300 a month. I feel like something is fishy here and that any reduction I'm getting is basically just cancelling out the fees and not truly getting me closer to invoice pricing on things.

    Any bargaining suggestions to get the payments down some more?

    I have the invoice for the AWD rendition. MSRSP is 25900, dealer cost 25027. Convenience package 2200/2025, 50/50 seat 1000/930.

    $895 in destination/freight/handling
    MSRSP 3090/29236

    Thanks!

    A couple of missing pieces:

    What trim level is this (LX, EX, SX) and what engine? How many miles per year? What is the MSRP of the two vehicles in question?

    Also - what state are you in? Kia has two different sets of numbers based on state.

    The only 39 month program I see for the 2015 Sorento this month is for the LX 2.4L FWD - .00054 MF and 55% residual for 39/12.

    Your dealer may be using a different finance company other than Kia for the quotes you received.

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  • tsnew1tsnew1 ChicagoMember Posts: 10

    Hi guys! First post! I'm trying to get an idea of the lease (MF, residual) for the following sorento. I'm in Illinois (outside Chicago).

    2015 Sorento LX V6, AWD, Convenience Package.
    MSRP (on kia.com): 31,895

    Looking for 36 months, 12k/yr. Also, do you know the incentives right now?

    Thanks in advance!

  • MichaellMichaell ColoradoModerator Posts: 206,110

    @tsnew1 said:
    Hi guys! First post! I'm trying to get an idea of the lease (MF, residual) for the following sorento. I'm in Illinois (outside Chicago).

    2015 Sorento LX V6, AWD, Convenience Package.
    MSRP (on kia.com): 31,895

    Looking for 36 months, 12k/yr. Also, do you know the incentives right now?

    Thanks in advance!

    36/12 numbers are .00016 and 57%. $1250 lease cash.

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  • tsnew1tsnew1 ChicagoMember Posts: 10

    @Michaell said:
    36/12 numbers are .00016 and 57%. $1250 lease cash.

    Great thanks! So let's see if I have this calculation right:

    Final Price (approx): 31895 - 1250 = 30645

    Residual: 31895 x 0.57 = 18180.15

    Payment: (30645 - 18180.15) / 36 = 346.25

    MF: 0.00016 x (30645 + 18180.15) = 7.81

    Tax (6.7%): 0.067 x (346.25 + 7.81) = 23.72

    Total Payment: $377.78

    Seem about right? Thanks for your help! This site is great for first time leasers, like me.

  • carqguycarqguy Member Posts: 13
    edited August 2014

    A couple of missing pieces:

    What trim level is this (LX, EX, SX) and what engine? How many miles per year? What is the MSRP of the two vehicles in question?

    Also - what state are you in? Kia has two different sets of numbers based on state.

    The only 39 month program I see for the 2015 Sorento this month is for the LX 2.4L FWD - .00054 MF and 55% residual for 39/12.

    Your dealer may be using a different finance company other than Kia for the quotes you received.

    Whoops!

    This is for an LX I4, MSRP is AWD 29195/ FWD 24995

    This is for WA state. 12,000 a year lease.

    Thanks in advance! Just trying not to get screwed. :)

  • MichaellMichaell ColoradoModerator Posts: 206,110

    @tsnew1 said:

    Your numbers are right on the money.

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  • MichaellMichaell ColoradoModerator Posts: 206,110

    @carqguy said:
    Thanks in advance! Just trying not to get screwed. :)

    As previously noted, I only have 39 month MF and RV for the FWD LX ... .00054 and 55%.

    I'm not sure I understand your numbers ... the MSRP is $24,995 but the net cap cost is $28,032?

    Use the shopping tools at the top of the page to get a target price.

    I'm assuming that Washington taxes only the payment and not the entire selling price?

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  • carqguycarqguy Member Posts: 13
    edited August 2014

    @Michaell said:
    I'm assuming that Washington taxes only the payment and not the entire selling price?

    MSRP is as requested and then the options listed in my first post (Convenience package 2200/2025, 50/50 seat 1000/930. MSRP/Dealer Cost respectively).

    MSRP with options and destination ($895) was given as $30090 for the AWD model and $28310 for the FWD model.

    If I'm not being clear let me know and I can go ahead and scan in the documents and upload them. And yes -- WA taxes on the PMT not the selling price :)

    I've used the shopping tools, and a calculator, but I don't understand how the price jumps over $100 a month from their current "279" a month sign and drive deal to almost 400 for adding $3000 in options or so, so I wanted to make sure I wasn't getting screwed.

  • MichaellMichaell ColoradoModerator Posts: 206,110

    @carqguy said:

    $3000 in options translates to an additional $77/mo on a 39 month lease.

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  • carqguycarqguy Member Posts: 13

    @Michaell said:
    $3000 in options translates to an additional $77/mo on a 39 month lease.

    So do you think a fair lease price would be closer to 360 then for the LX FWD?

  • tsnew1tsnew1 ChicagoMember Posts: 10

    @Michaell said:
    Your numbers are right on the money.

    Awesome! Thanks for your help!

    One quick last question, does Kia allow multiple incentives? For example, $500 kia loyalty AND $400 recent graduate?

  • MichaellMichaell ColoradoModerator Posts: 206,110

    @carqguy said:
    So do you think a fair lease price would be closer to 360 then for the LX FWD?

    That sounds about right.

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  • MichaellMichaell ColoradoModerator Posts: 206,110

    @tsnew1 said:
    One quick last question, does Kia allow multiple incentives? For example, $500 kia loyalty AND $400 recent graduate?

    Use the "Car Research" tab at the top of the page to find the latest incentives. I see no reason why the loyalty and college graduate rebates would not stack.

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  • tsnew1tsnew1 ChicagoMember Posts: 10

    @Michaell said:

    Great thanks! I'm going to head to the Kia dealership tomorrow and see what I can get.

  • lauraleex603lauraleex603 Member Posts: 15

    Looking for numbers for 2015 Sorento LX AWD in New Hampshire 36 months, 12K/year MSRP around $27,000 thanks!

  • kyfdxkyfdx Moderator Posts: 207,779

    @lauraleex603 said:
    Looking for numbers for 2015 Sorento LX AWD in New Hampshire 36 months, 12K/year MSRP around $27,000 thanks!

    4 cylinder: .00016 MF and 57% residual

    6-cyl.: .00056 MF and 59% residual.

    $1250 lease cash on either model.

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  • tsnew1tsnew1 ChicagoMember Posts: 10

    @tsnew1 said:
    Great thanks! I'm going to head to the Kia dealership tomorrow and see what I can get.

    Just wanted to report back on my results. I had one problem with my calculation, I did not know that Illinois is one of those terrible states that makes you pay the sales tax on the full cost up-front! So that changed things a little.

    We got a 2015 LX I4 AWD with 3rd row seats and convenience package.

    MSRP: $30,800

    Lease Cash: -$1250

    Recent Grad: -$400

    Loyalty: -$500

    Final Price: $28,650

    The sales tax was $2100! So we got them to cover it as part of the negotiation.

    We ended up paying $1000 for title, registration, etc.
    Monthly payment: $327

    I'm glad we got them to cover the tax, but that hurt our ability to negotiate the price. Luckily we had those incentives to help. Illinois is not a good state for leasing.

  • MichaellMichaell ColoradoModerator Posts: 206,110

    @tsnew1 said:
    Just wanted to report back on my results. I had one problem with my calculation, I did not know that Illinois is one of those terrible states that makes you pay the sales tax on the full cost up-front! So that changed things a little.

    >

    We got a 2015 LX I4 AWD with 3rd row seats and convenience package.

    >

    MSRP: $30,800

    >

    Lease Cash: -$1250

    Recent Grad: -$400

    Loyalty: -$500

    >

    Final Price: $28,650

    >

    The sales tax was $2100! So we got them to cover it as part of the negotiation.

    >

    We ended up paying $1000 for title, registration, etc. Monthly payment: $327

    >

    I'm glad we got them to cover the tax, but that hurt our ability to negotiate the price. Luckily we had those incentives to help. Illinois is not a good state for leasing.

    You did good - the incentives really helped offset the tax burden. The sales tax for leases in IL is changing as of 1/1/15 - they will only tax the payment rather than the entire purchase price.

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  • tsnew1tsnew1 ChicagoMember Posts: 10

    @Michaell said:
    You did good - the incentives really helped offset the tax burden. The sales tax for leases in IL is changing as of 1/1/15 - they will only tax the payment rather than the entire purchase price.

    That's good to hear (on both accounts). Thanks again for your assistance, it was very helpful. The initial payment they quoted me was around $420, and I was quickly able to tell that they were using the wrong money factor (0.002 vs 0.00016). Made life much easier.

  • damnyankeesdamnyankees Member Posts: 128
    Just left the Kia dealer in Danbury CT with the following deal: 36 months, 12k miles/year lease on an SX. $0 out of pocket at signing. MSRP $39,245. Selling price of $37,000 (no negotiating was done yet). $1606 of fees rolled in, $2500 in rebates ($1500 rebate from Kia, and $1000 rebate because we're coming from a Q5 - competitor rebate). Adjusted cap cost of $36,701. 55% residual, .00069 lease factor. They are showing me a base payment of $460.10, and a total of $489.32 once tax is included. This is the exact number I get on my own, so I'm not questioning their math. Just wondering if the lease factor is goosed up at all, and if the residual appears accurate? According to True Car, I can theoretically get the selling price closer to $35,500 or so, which would get my payment down in the $411-430 range, which I'd gladly take. Also, the fees they are showing are: $595 acquisition fee, $185 mv fees, $69 lemon law, $499 doc fee. Any of those negotiable? Thanks!
  • kyfdxkyfdx Moderator Posts: 207,779
    edited September 2014

    Just left the Kia dealer in Danbury CT with the following deal: 36 months, 12k miles/year lease on an SX. $0 out of pocket at signing. MSRP $39,245. Selling price of $37,000 (no negotiating was done yet). $1606 of fees rolled in, $2500 in rebates ($1500 rebate from Kia, and $1000 rebate because we're coming from a Q5 - competitor rebate). Adjusted cap cost of $36,701. 55% residual, .00069 lease factor. They are showing me a base payment of $460.10, and a total of $489.32 once tax is included. This is the exact number I get on my own, so I'm not questioning their math. Just wondering if the lease factor is goosed up at all, and if the residual appears accurate? According to True Car, I can theoretically get the selling price closer to $35,500 or so, which would get my payment down in the $411-430 range, which I'd gladly take. Also, the fees they are showing are: $595 acquisition fee, $185 mv fees, $69 lemon law, $499 doc fee. Any of those negotiable? Thanks!

    Kia has two regions for leases, and we only have the information for one region.. The other region could possibly the same (or worse)... Unfortunately, CT is in the other region.

    In the region I have, the 2015 SX AWD is .00047. It is very likely that your MF of .00069 is correct, because Kia dealers that mark up the MF usually go for the full .00040 increase.

    So, it's doubtful that your MF is marked up, I just can't say so with certainty.

    $499 doc fee seems high. But, you'll have better luck getting them to cut the price of the car, to make up for it, than getting them to actually dump the fee.

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  • damnyankeesdamnyankees Member Posts: 128
    kyfdx said:

    Just left the Kia dealer in Danbury CT with the following deal: 36 months, 12k miles/year lease on an SX. $0 out of pocket at signing. MSRP $39,245. Selling price of $37,000 (no negotiating was done yet). $1606 of fees rolled in, $2500 in rebates ($1500 rebate from Kia, and $1000 rebate because we're coming from a Q5 - competitor rebate). Adjusted cap cost of $36,701. 55% residual, .00069 lease factor. They are showing me a base payment of $460.10, and a total of $489.32 once tax is included. This is the exact number I get on my own, so I'm not questioning their math. Just wondering if the lease factor is goosed up at all, and if the residual appears accurate? According to True Car, I can theoretically get the selling price closer to $35,500 or so, which would get my payment down in the $411-430 range, which I'd gladly take. Also, the fees they are showing are: $595 acquisition fee, $185 mv fees, $69 lemon law, $499 doc fee. Any of those negotiable? Thanks!

    Kia has two regions for leases, and we only have the information for one region.. The other region could possibly the same (or worse)... Unfortunately, CT is in the other region.

    In the region I have, the 2015 SX AWD is .00047. It is very likely that your MF of .00069 is correct, because Kia dealers that mark up the MF usually go for the full .00040 increase.

    So, it's doubtful that your MF is marked up, I just can't say so with certainty.

    $499 doc fee seems high. But, you'll have better luck getting them to cut the price of the car, to make up for it, than getting them to actually dump the fee.
    Thanks so much for the quick response. What do you think is a reasonable selling price I should aim for?
  • damnyankeesdamnyankees Member Posts: 128
    kyfdx said:

    Just left the Kia dealer in Danbury CT with the following deal: 36 months, 12k miles/year lease on an SX. $0 out of pocket at signing. MSRP $39,245. Selling price of $37,000 (no negotiating was done yet). $1606 of fees rolled in, $2500 in rebates ($1500 rebate from Kia, and $1000 rebate because we're coming from a Q5 - competitor rebate). Adjusted cap cost of $36,701. 55% residual, .00069 lease factor. They are showing me a base payment of $460.10, and a total of $489.32 once tax is included. This is the exact number I get on my own, so I'm not questioning their math. Just wondering if the lease factor is goosed up at all, and if the residual appears accurate? According to True Car, I can theoretically get the selling price closer to $35,500 or so, which would get my payment down in the $411-430 range, which I'd gladly take. Also, the fees they are showing are: $595 acquisition fee, $185 mv fees, $69 lemon law, $499 doc fee. Any of those negotiable? Thanks!

    Kia has two regions for leases, and we only have the information for one region.. The other region could possibly the same (or worse)... Unfortunately, CT is in the other region.

    In the region I have, the 2015 SX AWD is .00047. It is very likely that your MF of .00069 is correct, because Kia dealers that mark up the MF usually go for the full .00040 increase.

    So, it's doubtful that your MF is marked up, I just can't say so with certainty.

    $499 doc fee seems high. But, you'll have better luck getting them to cut the price of the car, to make up for it, than getting them to actually dump the fee.
    Does the EX have better numbers? You can add options to it and basically make it an SX, but just wondering if it's got a better residual or money factor. Thanks
  • kyfdxkyfdx Moderator Posts: 207,779
    EX residuals are 1% higher, but the MF is .00024 higher.. Most likely, an EX and an SX with the same MSRP would have about the same payment.

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  • damnyankeesdamnyankees Member Posts: 128
    What's the likelihood of getting the dealer to go below invoice on the selling price, before taking into account $2500 in rebates?
  • MichaellMichaell ColoradoModerator Posts: 206,110

    What's the likelihood of getting the dealer to go below invoice on the selling price, before taking into account $2500 in rebates?

    Hard to say .. you can use the pricing tools at the top of the page to get a target price - should be around invoice or so before the incentives are applied.

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  • damnyankeesdamnyankees Member Posts: 128
    Michaell said:

    What's the likelihood of getting the dealer to go below invoice on the selling price, before taking into account $2500 in rebates?

    Hard to say .. you can use the pricing tools at the top of the page to get a target price - should be around invoice or so before the incentives are applied.

    Yeah, they claim they are giving me invoice (haven't asked to see the actual invoice yet). True Car suggests about $1,000 below invoice. I'm trying to get the SX payment down to $450/mo, but I don't think it's going to happen. They already said they'd do an SX with 15k miles for the same price they quoted me on the SX with 12k miles (about a $19/mo difference), so presumably they'd be willing to knock that $19 off the SX with 12k miles price and get me to about $470. Seems like a decent deal on an almost $40,000 car with $0 out of pocket.
  • damnyankeesdamnyankees Member Posts: 128

    Michaell said:

    What's the likelihood of getting the dealer to go below invoice on the selling price, before taking into account $2500 in rebates?

    Hard to say .. you can use the pricing tools at the top of the page to get a target price - should be around invoice or so before the incentives are applied.

    Yeah, they claim they are giving me invoice (haven't asked to see the actual invoice yet). True Car suggests about $1,000 below invoice. I'm trying to get the SX payment down to $450/mo, but I don't think it's going to happen. They already said they'd do an SX with 15k miles for the same price they quoted me on the SX with 12k miles (about a $19/mo difference), so presumably they'd be willing to knock that $19 off the SX with 12k miles price and get me to about $470. Seems like a decent deal on an almost $40,000 car with $0 out of pocket.
    They also said they'd make the last payment on our Q5 lease for us...so that's another $563. Am I just being greedy at this point? I don't want to pay more than I "should", but I understand the dealer wants/needs to make a couple bucks. I also really like our salesman and don't wanna screw him unnecessarily. :smile:
  • MichaellMichaell ColoradoModerator Posts: 206,110

    Michaell said:

    What's the likelihood of getting the dealer to go below invoice on the selling price, before taking into account $2500 in rebates?

    Hard to say .. you can use the pricing tools at the top of the page to get a target price - should be around invoice or so before the incentives are applied.

    Yeah, they claim they are giving me invoice (haven't asked to see the actual invoice yet). True Car suggests about $1,000 below invoice. I'm trying to get the SX payment down to $450/mo, but I don't think it's going to happen. They already said they'd do an SX with 15k miles for the same price they quoted me on the SX with 12k miles (about a $19/mo difference), so presumably they'd be willing to knock that $19 off the SX with 12k miles price and get me to about $470. Seems like a decent deal on an almost $40,000 car with $0 out of pocket.
    They also said they'd make the last payment on our Q5 lease for us...so that's another $563. Am I just being greedy at this point? I don't want to pay more than I "should", but I understand the dealer wants/needs to make a couple bucks. I also really like our salesman and don't wanna screw him unnecessarily. :smile:
    Be careful when dealing with a trade ... the dealer says they are 'covering' the last payment but could be lowballing you. Get the payoff from Audi and head over to the "real world trade in values" discussion here for an honest appraisal of your Q5, then determine how much equity you have. Might be way more than $563.

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  • damnyankeesdamnyankees Member Posts: 128
    Unless I'm missing something, we aren't "trading in" the Audi. I got the impression that the Kia dealer was literally just going to make the last payment for us, so that we'd buy a car from them now. We'd still be responsible for returning the car to Audi, as if we had made the last payment ourselves and ran out the lease til it ended. But thanks for the heads up!
  • MichaellMichaell ColoradoModerator Posts: 206,110

    Unless I'm missing something, we aren't "trading in" the Audi. I got the impression that the Kia dealer was literally just going to make the last payment for us, so that we'd buy a car from them now. We'd still be responsible for returning the car to Audi, as if we had made the last payment ourselves and ran out the lease til it ended. But thanks for the heads up!

    So you would retain possession of the Audi for the next month?

    Is the dealer giving you a check for the payment?

    I'm not sure I'd be comfortable with them making the payment to Audi directly.

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