2015 Kia Optima Lease Questions

ny_sx

got it - so the $4000 is factory to dealer lease cash and is not guaranteed - i just need to work to get as much of it as i can. any other money is on the consumer side and a sure thing.

so, here is a question for the crystal ball, which i understand if we had, we would probably be on the Bentley forum, but is it fair to guess that although the residual might drop a bit, the deals might be more favorable after 2/2 when the february deals come out and we get closer to the '16 Optima release?

thanks again - i hope this is helping other members, too!

Michaell

ny_sx said:

got it - so the $4000 is factory to dealer lease cash and is not guaranteed - i just need to work to get as much of it as i can. any other money is on the consumer side and a sure thing.

so, here is a question for the crystal ball, which i understand if we had, we would probably be on the Bentley forum, but is it fair to guess that although the residual might drop a bit, the deals might be more favorable after 2/2 when the february deals come out and we get closer to the '16 Optima release?

thanks again - i hope this is helping other members, too!

As noted, it is hard to predict what will happen with the numbers from month to month .. very general, though, the residual and the MF both go down throughout the year.

ny_sx

Well, I didn't go for it and I am still wavering between a '14 Cadenza Limited or the '15 Optima SXL, which is why the similiar post in the Cadenza Forum.

When they become available, would you please share the numbers and rebate/incentive programs for February? Just like above, I am looking for NY area [unless there are way better deals a few hours away] '15 Optima SXL, 36/12 or thereabouts. I have until the end of April to turn in my '12 Optima SX, which only has 20,000 miles after 36 months.

Also, are there actually better deals for President's Day or is that all hype and I should just stick to my usual end-of-the-month strategy?

Thanks!

kyfdx

ny_sx said:

Well, I didn't go for it and I am still wavering between a '14 Cadenza Limited or the '15 Optima SXL, which is why the similiar post in the Cadenza Forum.

When they become available, would you please share the numbers and rebate/incentive programs for February? Just like above, I am looking for NY area [unless there are way better deals a few hours away] '15 Optima SXL, 36/12 or thereabouts. I have until the end of April to turn in my '12 Optima SX, which only has 20,000 miles after 36 months.

Also, are there actually better deals for President's Day or is that all hype and I should just stick to my usual end-of-the-month strategy?

Thanks!

.00005 MF and 50% residual for 36mo, 12K/yr. $4000 lease cash.

mrtrance

Can you post the lease numbers for LX and EX models for February for both  24/36mo and 10K/12K?  Also what sort of pricing should I be targeting from MSRP?  Any incentives to be aware of too? I am in SoCal.

kyfdx

mrtrance said:

Can you post the lease numbers for LX and EX models for February for both  24/36mo and 10K/12K?  Also what sort of pricing should I be targeting from MSRP?  Any incentives to be aware of too? I am in SoCal.

LX: .00059 MF and 59% residual for 24/12. $3500 lease cash
.00049 MF and 54% residual for 36/12. $2500 lease cash

EX: .00078 MF and 58% residual for 24/12. $4000 lease cash
.00030 MF and 53% residual for 36/12. $2500 lease cash.

No 10K/yr program available

mrtrance

What should be my target discount off MSRP for LX or EX when also factoring in the cash incentives for 24 months? Possible to get $5K off on a LX model for 24 months or $5.5K off EX? Can you easily get $1500 off MSRP before taking into account these lease cash incentives?

Michaell

mrtrance said:

What should be my target discount off MSRP for LX or EX when also factoring in the cash incentives for 24 months? Possible to get $5K off on a LX model for 24 months or $5.5K off EX? Can you easily get $1500 off MSRP before taking into account these lease cash incentives?

Use the pricing tools at the top of the page to help establish a target price .. make / model / year

mrtrance

kyfdx said:

Can you post the lease numbers for LX and EX models for February for both  24/36mo and 10K/12K?  Also what sort of pricing should I be targeting from MSRP?  Any incentives to be aware of too? I am in SoCal.

LX: .00059 MF and 59% residual for 24/12. $3500 lease cash .00049 MF and 54% residual for 36/12. $2500 lease cash EX: .00078 MF and 58% residual for 24/12. $4000 lease cash .00030 MF and 53% residual for 36/12. $2500 lease cash. No 10K/yr program available

For a LX or EX  for 24 months would it be possible to target a selling price point of $5K-$6K under MSRP when including the cash incentives?  Any feedback on what is the typical discount available before the cash incentive is taken into account?

mrtrance

kyfdx said:

Can you post the lease numbers for LX and EX models for February for both  24/36mo and 10K/12K?  Also what sort of pricing should I be targeting from MSRP?  Any incentives to be aware of too? I am in SoCal.

LX: .00059 MF and 59% residual for 24/12. $3500 lease cash .00049 MF and 54% residual for 36/12. $2500 lease cash EX: .00078 MF and 58% residual for 24/12. $4000 lease cash .00030 MF and 53% residual for 36/12. $2500 lease cash. No 10K/yr program available

So if I wanted to go with either a LX or EX for 24 months is it possible to get $5K-$6K off MSRP when factoring in the lease cash?  What are typical discounts one can get before factoring inthe lease incentives so I can be aware of a target price?

ny_sx

kyfdx said:

ny_sx said:

Well, I didn't go for it and I am still wavering between a '14 Cadenza Limited or the '15 Optima SXL, which is why the similiar post in the Cadenza Forum.

When they become available, would you please share the numbers and rebate/incentive programs for February? Just like above, I am looking for NY area [unless there are way better deals a few hours away] '15 Optima SXL, 36/12 or thereabouts. I have until the end of April to turn in my '12 Optima SX, which only has 20,000 miles after 36 months.

Also, are there actually better deals for President's Day or is that all hype and I should just stick to my usual end-of-the-month strategy?

Thanks!

.00005 MF and 50% residual for 36mo, 12K/yr. $4000 lease cash.

Any idea about 39/12? I realized I don't want my leases ending in February.

ny_sx

Mrtrance's question is a good one. Whether I am using this site or others, part of the "PricePromise" or best deal number includes some amount of incentives or rebates. Is there anyway to find the ideal price before any incentives/rebates/givebacks? If we had that number, we are really well armed with the other information we get from here like MF, residual, dealer cash, etc.

Michaell

ny_sx said:

kyfdx said:

ny_sx said:

Well, I didn't go for it and I am still wavering between a '14 Cadenza Limited or the '15 Optima SXL, which is why the similiar post in the Cadenza Forum.

When they become available, would you please share the numbers and rebate/incentive programs for February? Just like above, I am looking for NY area [unless there are way better deals a few hours away] '15 Optima SXL, 36/12 or thereabouts. I have until the end of April to turn in my '12 Optima SX, which only has 20,000 miles after 36 months.

Also, are there actually better deals for President's Day or is that all hype and I should just stick to my usual end-of-the-month strategy?

Thanks!

.00005 MF and 50% residual for 36mo, 12K/yr. $4000 lease cash.

Any idea about 39/12? I realized I don't want my leases ending in February.

No 39 month terms from Kia ... next longest lease term is 42 months.

Michaell

ny_sx said:

Mrtrance's question is a good one. Whether I am using this site or others, part of the "PricePromise" or best deal number includes some amount of incentives or rebates. Is there anyway to find the ideal price before any incentives/rebates/givebacks? If we had that number, we are really well armed with the other information we get from here like MF, residual, dealer cash, etc.

Admittedly, I've not used any of the PricePromise tools, but doesn't it break out the selling price before the incentives?

When I use the "regular" pricing tools here at Edmunds (the "make / model / year" pull downs at the top of the page), I get a TMV (true market value) number that breaks out any customer incentives.

Remember that customer incentives and lease cash may not always be combined.

ny_sx

Well, Michaell, not surprisingly, you are right - with some poking around.

For example, I priced a '15 Optima SXL, MSRP $36,655. The next screen after entering my email and phone gave me a price of $31,658, which it points out is a savings of $4997. If you click in the right place, it will tell you that includes $1500 Customer Cash, if qualified. When I printed the certificate, the numbers remained the same, of course, but it did not print out that a part of the savings was Customer Cash.

So, assuming there are at least a $1500 Customer Cash, $1000 Loyalty and $4000 Lease Cash incentives, which likely do not all combine, how do we calculate a good target price? I think that might have been where Mrtrance was going and certainly is the part that still confuses me.

Thanks, Michaell, for your help!

mrtrance

ny_sx said:

Well, Michaell, not surprisingly, you are right - with some poking around. For example, I priced a '15 Optima SXL, MSRP $36,655. The next screen after entering my email and phone gave me a price of $31,658, which it points out is a savings of $4997. If you click in the right place, it will tell you that includes $1500 Customer Cash, if qualified. When I printed the certificate, the numbers remained the same, of course, but it did not print out that a part of the savings was Customer Cash. So, assuming there are at least a $1500 Customer Cash, $1000 Loyalty and $4000 Lease Cash incentives, which likely do not all combine, how do we calculate a good target price? I think that might have been where Mrtrance was going and certainly is the part that still confuses me. Thanks, Michaell, for your help!

I have never dealt with Kia dealers so not sure what is the typical discount one can get from dealers before any incentive is available.  For example on a $25K car what would be best price one can achieve when just talking to internet manager? Is it easy to get $1K, $2K , etc off MSRP with very little hassle?  Once I know that then I can factor in the current incentive to get to rough target price.  If some folks can post what sort of discounts they got before any incentives that would be helpful.

mrtrance

ny_sx said:

Well, Michaell, not surprisingly, you are right - with some poking around. For example, I priced a '15 Optima SXL, MSRP $36,655. The next screen after entering my email and phone gave me a price of $31,658, which it points out is a savings of $4997. If you click in the right place, it will tell you that includes $1500 Customer Cash, if qualified. When I printed the certificate, the numbers remained the same, of course, but it did not print out that a part of the savings was Customer Cash. So, assuming there are at least a $1500 Customer Cash, $1000 Loyalty and $4000 Lease Cash incentives, which likely do not all combine, how do we calculate a good target price? I think that might have been where Mrtrance was going and certainly is the part that still confuses me. Thanks, Michaell, for your help!

I have never dealt with Kia dealers so not sure what is the typical discount one can get from dealers before any incentive is available.  For example on a $25K car what would be best price one can achieve when just talking to internet manager? Is it easy to get $1K, $2K , etc off MSRP with very little hassle?  Once I know that then I can factor in the current incentive to get to rough target price.  If some folks can post what sort of discounts they got before any incentives that would be helpful.

mrtrance

kyfdx said:

Can you post the lease numbers for LX and EX models for February for both  24/36mo and 10K/12K?  Also what sort of pricing should I be targeting from MSRP?  Any incentives to be aware of too? I am in SoCal.

LX: .00059 MF and 59% residual for 24/12. $3500 lease cash .00049 MF and 54% residual for 36/12. $2500 lease cash EX: .00078 MF and 58% residual for 24/12. $4000 lease cash .00030 MF and 53% residual for 36/12. $2500 lease cash. No 10K/yr program available

For 24 month leases for LX or EX how are the lease cash $3500 and $4000 respectively when I checked the incentive on this site shows only $1500 customer cash?  Or is customer cash different than lease cash and can they be combined if different?

Michaell

@mrtrance and @ny_sx‌ -

Generally speaking, you should be able to negotiate a price around invoice (+/- $500 or so) before applying any incentives.

The lease cash that we quote is a factory to dealer incentive, and won't show up as a customer incentive. The dealer can choose to pass along that money, in whole or in part, to the customer. Lease cash can be combined with any customer incentives you qualify for on a lease.

Where things get confusing is when there are multiple customer incentives - some are for purchases, others for leases, loyalty, conquest - those may not always stack with one another.

mrtrance

Michaell said:

@mrtrance and @ny_sx‌ - Generally speaking, you should be able to negotiate a price around invoice (+/- $500 or so) before applying any incentives. The lease cash that we quote is a factory to dealer incentive, and won't show up as a customer incentive. The dealer can choose to pass along that money, in whole or in part, to the customer. Lease cash can be combined with any customer incentives you qualify for on a lease. Where things get confusing is when there are multiple customer incentives - some are for purchases, others for leases, loyalty, conquest - those may not always stack with one another.

So in this case where we know lease cash is $3500 for LX for 24 months and customer cash is also $1500 technically we should be able to get at least $5K off the MSRP if dealer decides to pass along all the lease cash (we would be getting all the $1500 customer cash since that is offered direct to customer).  Now if we can also get the original selling pricing down to invoice or better then that would increase the discount of $5K depending how low we get them on the selling price.  So in the end depending on what the difference is between MSRP and invoice we can in theory get close to $6500-$7000 off MSRP (assuming a difference of $1500-$2000 between MSRP and invoice) if all the discounts are applied and we can bargain hard on the selling price of the car.

Am I correct here?

Michaell

mrtrance said:

Michaell said:

@mrtrance and @ny_sx‌ -

Generally speaking, you should be able to negotiate a price around invoice (+/- $500 or so) before applying any incentives.

The lease cash that we quote is a factory to dealer incentive, and won't show up as a customer incentive. The dealer can choose to pass along that money, in whole or in part, to the customer. Lease cash can be combined with any customer incentives you qualify for on a lease.

Where things get confusing is when there are multiple customer incentives - some are for purchases, others for leases, loyalty, conquest - those may not always stack with one another.

So in this case where we know lease cash is $3500 for LX for 24 months and customer cash is also $1500 technically we should be able to get at least $5K off the MSRP if dealer decides to pass along all the lease cash (we would be getting all the $1500 customer cash since that is offered direct to customer).  Now if we can also get the original selling pricing down to invoice or better then that would increase the discount of $5K depending how low we get them on the selling price.  So in the end depending on what the difference is between MSRP and invoice we can in theory get close to $6500-$7000 off MSRP (assuming a difference of $1500-$2000 between MSRP and invoice) if all the discounts are applied and we can bargain hard on the selling price of the car.

Am I correct here?

Exactly.

mrtrance

If Truecar's price is showing that a LX with MSRP of $22,515 is $19,343 (which includes the $1500 Customer incentive into their calculations) does this mean that if I went with a 24 month lease here in SoCal I have another $3500 lease cash that I can use to get the cap cost/selling price down to $15,843 (if dealer is willing to part with most of the lease cash)? So lowest a dealer can go on this vehicle is $15,843 and I should try to get as close to this cap cost as possible correct? Or it is either the $1500 Customer incentive or the $3500 lease cash, but not both?

kyfdx

mrtrance said:

If Truecar's price is showing that a LX with MSRP of $22,515 is $19,343 (which includes the $1500 Customer incentive into their calculations) does this mean that if I went with a 24 month lease here in SoCal I have another $3500 lease cash that I can use to get the cap cost/selling price down to $15,843 (if dealer is willing to part with most of the lease cash)? So lowest a dealer can go on this vehicle is $15,843 and I should try to get as close to this cap cost as possible correct? Or it is either the $1500 Customer incentive or the $3500 lease cash, but not both?

No idea about the TrueCar price.... you'd have to ask them or a dealer how that works.

mrtrance

kyfdx said:

If Truecar's price is showing that a LX with MSRP of $22,515 is $19,343 (which includes the $1500 Customer incentive into their calculations) does this mean that if I went with a 24 month lease here in SoCal I have another $3500 lease cash that I can use to get the cap cost/selling price down to $15,843 (if dealer is willing to part with most of the lease cash)? So lowest a dealer can go on this vehicle is $15,843 and I should try to get as close to this cap cost as possible correct? Or it is either the $1500 Customer incentive or the $3500 lease cash, but not both?

No idea about the TrueCar price.... you'd have to ask them or a dealer how that works.

Well the main point of my post was if the price we get here (price promise) or another site which includes the $1500 customer cash incentive into their offered price whether we would be able to stack the lease cash amount in addition to the $1500? I know that lease cash is manufacturer to dealer and it is up to dealer whether they give some, all, or none of it to customer, but is it allowed to stack with the $1500 customer cash incentive?  I see the price promise on here is like $3700 discount, but no idea if that factors the $1500 discount or not.  

Michaell

mrtrance said:

kyfdx said:

mrtrance said:

If Truecar's price is showing that a LX with MSRP of $22,515 is $19,343 (which includes the $1500 Customer incentive into their calculations) does this mean that if I went with a 24 month lease here in SoCal I have another $3500 lease cash that I can use to get the cap cost/selling price down to $15,843 (if dealer is willing to part with most of the lease cash)? So lowest a dealer can go on this vehicle is $15,843 and I should try to get as close to this cap cost as possible correct? Or it is either the $1500 Customer incentive or the $3500 lease cash, but not both?

No idea about the TrueCar price.... you'd have to ask them or a dealer how that works.

Well the main point of my post was if the price we get here (price promise) or another site which includes the $1500 customer cash incentive into their offered price whether we would be able to stack the lease cash amount in addition to the $1500? I know that lease cash is manufacturer to dealer and it is up to dealer whether they give some, all, or none of it to customer, but is it allowed to stack with the $1500 customer cash incentive?  I see the price promise on here is like $3700 discount, but no idea if that factors the $1500 discount or not.  

My guess (and it's only a guess) is that the $3700 discount includes the $1500 incentive. The margins on new cars isn't that large.

mrtrance

Michaell said:

kyfdx said:

If Truecar's price is showing that a LX with MSRP of $22,515 is $19,343 (which includes the $1500 Customer incentive into their calculations) does this mean that if I went with a 24 month lease here in SoCal I have another $3500 lease cash that I can use to get the cap cost/selling price down to $15,843 (if dealer is willing to part with most of the lease cash)? So lowest a dealer can go on this vehicle is $15,843 and I should try to get as close to this cap cost as possible correct? Or it is either the $1500 Customer incentive or the $3500 lease cash, but not both?

No idea about the TrueCar price.... you'd have to ask them or a dealer how that works.

Well the main point of my post was if the price we get here (price promise) or another site which includes the $1500 customer cash incentive into their offered price whether we would be able to stack the lease cash amount in addition to the $1500? I know that lease cash is manufacturer to dealer and it is up to dealer whether they give some, all, or none of it to customer, but is it allowed to stack with the $1500 customer cash incentive?  I see the price promise on here is like $3700 discount, but no idea if that factors the $1500 discount or not.  

My guess (and it's only a guess) is that the $3700 discount includes the $1500 incentive. The margins on new cars isn't that large.

So if these prices have the $1500 factored in already when do we bring up the lease cash thatis available?  Do we mention it right at the beginning to the internet manager or wait til we finalize a selling price and then bring it up?  Will this lease cash amount vary to how much of it we can get from each dealer?  

kyfdx

I'd be surprised if you can get a purchase incentive and lease cash on the same vehicle.

Generally, those two are not compatible..

mrtrance

kyfdx said:

I'd be surprised if you can get a purchase incentive and lease cash on the same vehicle. Generally, those two are not compatible..

So then if that is the case why not just then try to get full lease cash instead of customer cash since for example if you can get the EX at invoice price (which would be close to $1300 discount) and do a 24 month lease (which has a $4000 lease cash) then you could be looking at a net cap cost of $5300 off MSRP.  So knowing this I try to get them to sell me that car at much off which we know can be done correct?  Why then go with the price promise or other sites prices which just factor in the $1500 only and only take off close to $4300 leaving another $1000 on the table?

Michaell

mrtrance said:

kyfdx said:

I'd be surprised if you can get a purchase incentive and lease cash on the same vehicle.

Generally, those two are not compatible..

So then if that is the case why not just then try to get full lease cash instead of customer cash since for example if you can get the EX at invoice price (which would be close to $1300 discount) and do a 24 month lease (which has a $4000 lease cash) then you could be looking at a net cap cost of $5300 off MSRP.  So knowing this I try to get them to sell me that car at much off which we know can be done correct?  Why then go with the price promise or other sites prices which just factor in the $1500 only and only take off close to $4300 leaving another $1000 on the table?

It's important to remember that any pricing service only takes into consideration customer facing incentives. The lease cash is factory to dealer; the dealer can choose to pass along the $4000, in whole or in part, to the customer. You, of course, want it all, but the pricing tools don't know about it.

mrtrance

Michaell said:

kyfdx said:

I'd be surprised if you can get a purchase incentive and lease cash on the same vehicle. Generally, those two are not compatible..

So then if that is the case why not just then try to get full lease cash instead of customer cash since for example if you can get the EX at invoice price (which would be close to $1300 discount) and do a 24 month lease (which has a $4000 lease cash) then you could be looking at a net cap cost of $5300 off MSRP.  So knowing this I try to get them to sell me that car at much off which we know can be done correct?  Why then go with the price promise or other sites prices which just factor in the $1500 only and only take off close to $4300 leaving another $1000 on the table?

It's important to remember that any pricing service only takes into consideration customer facing incentives. The lease cash is factory to dealer; the dealer can choose to pass along the $4000, in whole or in part, to the customer. You, of course, want it all, but the pricing tools don't know about it.

Do we inform them right off the bat that there is a lease cash after they give us their best selling price which will most likely just include the cash incentive?
 
So if that is the case then we can try to factor at least some of that lease cash into our offers on top of the price that these pricing services offer?So if we try to offer a price that is $6300 under MSRP ($4300 off with cash incentive/pricing services and $2000 of the lease cash) it would not be out of the question for them to sell at then?

Michaell

mrtrance said:

Michaell said:

kyfdx said:

I'd be surprised if you can get a purchase incentive and lease cash on the same vehicle.

Generally, those two are not compatible..

So then if that is the case why not just then try to get full lease cash instead of customer cash since for example if you can get the EX at invoice price (which would be close to $1300 discount) and do a 24 month lease (which has a $4000 lease cash) then you could be looking at a net cap cost of $5300 off MSRP.  So knowing this I try to get them to sell me that car at much off which we know can be done correct?  Why then go with the price promise or other sites prices which just factor in the $1500 only and only take off close to $4300 leaving another $1000 on the table?

It's important to remember that any pricing service only takes into consideration customer facing incentives. The lease cash is factory to dealer; the dealer can choose to pass along the $4000, in whole or in part, to the customer. You, of course, want it all, but the pricing tools don't know about it.
Do we inform them right off the bat that there is a lease cash after they give us their best selling price which will most likely just include the cash incentive?
 
So if that is the case then we can try to factor at least some of that lease cash into our offers on top of the price that these pricing services offer?So if we try to offer a price that is $6300 under MSRP ($4300 off with cash incentive/pricing services and $2000 of the lease cash) it would not be out of the question for them to sell at then?

Go back to what my co-host pointed out. There are lease incentives, and there are purchase incentives. Rarely can they be combined. You can't take a price with purchase incentives and add (well, subtract) the lease incentives from that price as well.

For a lease, determine the best selling price with no purchase incentives, then subtract the lease cash from that number.

Other incentives (military, conquest, loyalty, etc.), can be stacked with either purchase incentives (rebates) or lease cash.

mrtrance

Michaell said:

Michaell said:

kyfdx said:

I'd be surprised if you can get a purchase incentive and lease cash on the same vehicle. Generally, those two are not compatible..

So then if that is the case why not just then try to get full lease cash instead of customer cash since for example if you can get the EX at invoice price (which would be close to $1300 discount) and do a 24 month lease (which has a $4000 lease cash) then you could be looking at a net cap cost of $5300 off MSRP.  So knowing this I try to get them to sell me that car at much off which we know can be done correct?  Why then go with the price promise or other sites prices which just factor in the $1500 only and only take off close to $4300 leaving another $1000 on the table?

It's important to remember that any pricing service only takes into consideration customer facing incentives. The lease cash is factory to dealer; the dealer can choose to pass along the $4000, in whole or in part, to the customer. You, of course, want it all, but the pricing tools don't know about it.

Do we inform them right off the bat that there is a lease cash after they give us their best selling price which will most likely just include the cash incentive?
 
So if that is the case then we can try to factor at least some of that lease cash into our offers on top of the price that these pricing services offer?So if we try to offer a price that is $6300 under MSRP ($4300 off with cash incentive/pricing services and $2000 of the lease cash) it would not be out of the question for them to sell at then?

Go back to what my co-host pointed out. There are lease incentives, and there are purchase incentives. Rarely can they be combined. You can't take a price with purchase incentives and add (well, subtract) the lease incentives from that price as well. For a lease, determine the best selling price with no purchase incentives, then subtract the lease cash from that number. Other incentives (military, conquest, loyalty, etc.), can be stacked with either purchase incentives (rebates) or lease cash.

So then if a pricing service like Truecar has the EX priced at 20,690 (MSRP 25, 015) and it does include the $1500 cash incentive which they show in their price breakdown then if I remove that $1500 then the best selling price for lease would be $22, 190 and from this price I can apply the $4000 lease cash so I can offer them a selling price of $18, 190 or there about as my target cap cost..is that correct?   

Michaell

mrtrance said:

Michaell said:

Michaell said:

kyfdx said:

I'd be surprised if you can get a purchase incentive and lease cash on the same vehicle.

Generally, those two are not compatible..

So then if that is the case why not just then try to get full lease cash instead of customer cash since for example if you can get the EX at invoice price (which would be close to $1300 discount) and do a 24 month lease (which has a $4000 lease cash) then you could be looking at a net cap cost of $5300 off MSRP.  So knowing this I try to get them to sell me that car at much off which we know can be done correct?  Why then go with the price promise or other sites prices which just factor in the $1500 only and only take off close to $4300 leaving another $1000 on the table?

It's important to remember that any pricing service only takes into consideration customer facing incentives. The lease cash is factory to dealer; the dealer can choose to pass along the $4000, in whole or in part, to the customer. You, of course, want it all, but the pricing tools don't know about it.

Do we inform them right off the bat that there is a lease cash after they give us their best selling price which will most likely just include the cash incentive?
 
So if that is the case then we can try to factor at least some of that lease cash into our offers on top of the price that these pricing services offer?So if we try to offer a price that is $6300 under MSRP ($4300 off with cash incentive/pricing services and $2000 of the lease cash) it would not be out of the question for them to sell at then?

Go back to what my co-host pointed out. There are lease incentives, and there are purchase incentives. Rarely can they be combined. You can't take a price with purchase incentives and add (well, subtract) the lease incentives from that price as well.

For a lease, determine the best selling price with no purchase incentives, then subtract the lease cash from that number.

Other incentives (military, conquest, loyalty, etc.), can be stacked with either purchase incentives (rebates) or lease cash.

So then if a pricing service like Truecar has the EX priced at 20,690 (MSRP 25, 015) and it does include the $1500 cash incentive which they show in their price breakdown then if I remove that $1500 then the best selling price for lease would be $22, 190 and from this price I can apply the $4000 lease cash so I can offer them a selling price of $18, 190 or there about as my target cap cost..is that correct?   


If the $1500 is a purchase only incentive, then your math is correct.

rocketman18

Can you post MF & Residuals 36/12k for the Optima EX & SX-L??Also any any Lease Cash available for NJ??Thank you

Michaell

rocketman18 said:

Can you post MF & Residuals 36/12k for the Optima EX & SX-L??Also any any Lease Cash available for NJ??Thank you

EX - .00001 and 53%. $2500 lease cash

SX-L - .00025 and 50%. $4000 lease cash

XxHaimBonxX

mkrv said:

I'm in NY area, looking for a fully loaded 2015 Kia Optima SXL Turbo with Ultimate Package.
I believe this is the complete info... hoping someone can help decipher and confirm if good deal or not...

$0 Down Lease
36 mo./12k mi.

MSRP $36,355
Cap Cost $32,698
Residual $18,541
MF 0.0004
Rebate $3,500 +$1,045 (total discount = $4,545)

Acquisition $595
Admin $289
Tax $1,528
Doc $75
NYS Tire $12.5
Inspection $10
Gas $54.31 (not sure what this is...)
All above will be paid upfront (not amortized into monthly lease)

Total upfront $2,563.81
Monthly payment $370.59

Does this seem high?

Thanks!

I see signs of a rip off, sorry to say. Not sure if you got the car already, but hopefully, future buyers get the benefit. First, I am not sure what is the Ultimate Package, since SXL come fully loaded and the only thing you can add is generic accessories. If I had to guess, dealer is trying to impress you with the wording and make the car sound more expensive that it is. Second, charging you for gas? That's outrageous. This is my 5th lease and I think I was had on my first, but never charged for tank of gas. Same goes for inspection. I got a 2014 SXL, however, comparing to your numbers, I had to pay only $375 first month and $375 per after, tax included. Then I got a $50 refund for doc fee because my registration was transferred.

mrtrance

Can you post the lease numbers and any lease cash for 2015 SX and SXL models for 24/36 months and 12K/15K for Southern California?

Michaell

mrtrance said:

Can you post the lease numbers and any lease cash for 2015 SX and SXL models for 24/36 months and 12K/15K for Southern California?

24/12:

SX - .00110 and 57%. $5000 lease cash

SXL - .00047 and 55%. $6000 lease cash

36/12:

SX - .00068 and 52%. $3500 lease cash

SXL - .00025 and 50%. $4000 lease cash

Subtract 2% from the above for 15K.

straman17

Are Kia's lease rates different per region? I am looking for the specifics on an SXL for 24/36 15K. It looks like they are pushing 24 month leasese right now?

Michaell

straman17 said:

Are Kia's lease rates different per region? I am looking for the specifics on an SXL for 24/36 15K. It looks like they are pushing 24 month leasese right now?

Yes, there are regional numbers for Kia ... where do you live?

straman17

Sorry I meant to mention that. Ohio here.

Michaell

straman17 said:

Are Kia's lease rates different per region? I am looking for the specifics on an SXL for 24/36 15K in Ohio. It looks like they are pushing 24 month leasese right now?

24/15 - .00045 and 53%. $6000 lease cash.

36/15 - .00025 and 48%. $4000 lease cash.

ccppbb

Hi all, I have a 2012 Kia Optima SX-Turbo Premium Package w/ 20,500 miles, sunroof, power seats, leather, premium wheels, pretty much everything except navigation. I have 2 months left on the lease. The buyout is going to be around ~$16,500 and the trade-in is around ~$17,500 online. I'm looking at a 2015 Kia Optima SX-Turbo Premium Package (pretty much a mirror image of my car now) which makes it $31,825. Looking online I see they have a lease cash incentive of $3,500 for 36/12 and 42/12. I'm hoping I can negotiate around $2,000 off MSRP. Is under $300 a month do-able / a good deal? What should I aim for? Do these lease incentives just end and then they begin a new one right away? I don't want to see the incentive increase the next month after I make the deal for $3,500. I'm just going to pay the ~$1,000 back towards the last 2 payments of the Optima i'm trading in. By the way i'm in New Jersey.

Michaell

ccppbb said:

Hi all, I have a 2012 Kia Optima SX-Turbo Premium Package w/ 20,500 miles, sunroof, power seats, leather, premium wheels, pretty much everything except navigation. I have 2 months left on the lease. The buyout is going to be around ~$16,500 and the trade-in is around ~$17,500 online. I'm looking at a 2015 Kia Optima SX-Turbo Premium Package (pretty much a mirror image of my car now) which makes it $31,825. Looking online I see they have a lease cash incentive of $3,500 for 36/12 and 42/12. I'm hoping I can negotiate around $2,000 off MSRP. Is under $300 a month do-able / a good deal? What should I aim for? Do these lease incentives just end and then they begin a new one right away? I don't want to see the incentive increase the next month after I make the deal for $3,500. I'm just going to pay the ~$1,000 back towards the last 2 payments of the Optima i'm trading in. By the way i'm in New Jersey.

Without knowing the net cap cost (after negotiating your best price and subtracting the incentives, but adding in any taxes and fees), we can't model a payment for you.

Your current buyout is the residual value plus any payments you have yet to make. Head over to the "Real World Trade in Values" discussion for an honest appraisal of what your car is worth.

dan_0

Hi,
Could you please post current NY MF, residuals and incentives for Optima hybrid and LX?
Thanks in advance!

ny_sx

ccppbb said:

Hi all, I have a 2012 Kia Optima SX-Turbo Premium Package w/ 20,500 miles, sunroof, power seats, leather, premium wheels, pretty much everything except navigation. I have 2 months left on the lease. The buyout is going to be around ~$16,500 and the trade-in is around ~$17,500 online. I'm looking at a 2015 Kia Optima SX-Turbo Premium Package (pretty much a mirror image of my car now) which makes it $31,825. Looking online I see they have a lease cash incentive of $3,500 for 36/12 and 42/12. I'm hoping I can negotiate around $2,000 off MSRP. Is under $300 a month do-able / a good deal? What should I aim for? Do these lease incentives just end and then they begin a new one right away? I don't want to see the incentive increase the next month after I make the deal for $3,500. I'm just going to pay the ~$1,000 back towards the last 2 payments of the Optima i'm trading in. By the way i'm in New Jersey.

If your lease is held by Kia Motor Finance, they should waive up to your last three monthly payments and most of you return fee if you lease another Kia through them.

Michaell

dan_0 said:

Hi,
Could you please post current NY MF, residuals and incentives for Optima hybrid and LX?
Thanks in advance!

What lease term and how many miles per year?

dan_0

Arrgghh! Thought I included that. Apologies!
12K, 24 and 36 months.
Thanks again!

kyfdx

dan_0 said:

Hi,
Could you please post current NY MF, residuals and incentives for Optima hybrid and LX?
Thanks in advance!

dan_0 said:

Arrgghh! Thought I included that. Apologies!
12K, 24 and 36 months.
Thanks again!

24mo, 12K/yr
LX Gas: .00026 MF and 59% residual. $3500 lease cash
LX Hybrid: .00088 MF and 55% residual. $5500 lease cash.

36mo, 12K/yr
LX Gas: .00019 MF and 54% residual. $2500 lease cash
LX Hybrid: .00081 MF and 50% residual. $4500 lease cash

jnkoh

Looking for lease numbers for LX, EX and SX optimas in NJ 3/12K miles please.