2015 Kia Optima Lease Questions

Michaell

hades1 said:

Michaell said:

What state is this? Kia numbers are regional.

Options or packages do not affect the numbers.

Use the pricing tools at the top of the page (make / model / year) to get target prices.

New York,

Can you also give me the numbers for the LX 24/36/48 12K I want to compare the LX and the EX prices

Thanks

LX:
24/12 - .00060 and 60%, $3500 lease cash
36/12 - .00069 and 55%, $2500 lease cash
48/12 - .00093 and 50%, $2000 lease cash

EX:
24/12 - .00078 and 59%, $4000 lease cash
36/12 - .00050 and 54%, $2500 lease cash
48/12 - .00082 and 49%, $2000 lease cash

soccerandlost

Can I please get SoCal lease variables and incentives for the 2015 Optima Hybrid EX for 2 and 3 yr leases at 10k and 12k/year? Thanks.

Michaell

soccerandlost said:

Can I please get SoCal lease variables and incentives for the 2015 Optima Hybrid EX for 2 and 3 yr leases at 10k and 12k/year? Thanks.

24/12 - .00068 and 56%. $6000 lease cash.
36/12 - .00108 and 51%. $5000 lease cash.

Add 1% for 10K

twodice1

Got an offer that I'm trying to determine if it is good enough:

Kia Optima 2015 EX with Premium Package, MSRP: $28,315, sale price: $25,696, Residual: 59% MF: 0.00049.

They claim to be using the $4k lease cash and $500 NY Auto Show bonus.

Upfront: $2K (all NY taxes and fees and a little more to pad the monthly cost), monthly: $258 - 24 months with 15K miles a year.

Thoughts?

Michaell

twodice1 said:

Got an offer that I'm trying to determine if it is good enough:

Kia Optima 2015 EX with Premium Package, MSRP: $28,315, sale price: $25,696, Residual: 59% MF: 0.00049.

They claim to be using the $4k lease cash and $500 NY Auto Show bonus.

Upfront: $2K (all NY taxes and fees and a little more to pad the monthly cost), monthly: $258 - 24 months with 15K miles a year.

Thoughts?

I get $270/mo with those numbers, so your quote of $258/mo looks pretty good by comparison.

evoic

Hello, Kia brains.
Before I post my question, I just want to say thank you in advance for myself and thank you in general for everything that you do to help the people that come here for guidance.
These are people making 2, 3, 4, 5+ year commitments with thousands and tens of thousands of dollars on the line, and you give them light in the darkness. It's really an awesome thing that you do for people and should be commended.

Ok, my question.
I'm shopping for a 36 month lease in SoCal.
I'm looking for an EX or better model. (I'd love the turbo but I think it's too far of a stretch for me)
I have a trade-in that I'm hoping to get $1k my way on the trade, but I'm anticipating most dealerships are not interested in a trade + giving cash on it + applying it for a lease.....we'll have to hope I get lucky there.
Whether I get the trade money or not, I'm looking for zero drive-off in the $250 per month price range.

I have been offered $262 on a 15' EX with no options and no trade.
So far that is my only interaction with a dealership.

If I can better understand how much cash they are getting from Kia to use towards the deal along with the MF and residual, maybe then I can sharpen my pencil a bit and understand what it reasonable and what is impossible.

I basically understand that $1k put down would lower the payment approx. $30 per month.
If I am getting $262 with no trade for the car I want, wouldn't it make sense that someone could take my vehicle and get me to $250 rather easily? Am I misguided in my assumptions?

You folks are the best.

Michaell

evoic said:

Hello, Kia brains.
Before I post my question, I just want to say thank you in advance for myself and thank you in general for everything that you do to help the people that come here for guidance.
These are people making 2, 3, 4, 5+ year commitments with thousands and tens of thousands of dollars on the line, and you give them light in the darkness. It's really an awesome thing that you do for people and should be commended.

Ok, my question.
I'm shopping for a 36 month lease in SoCal.
I'm looking for an EX or better model. (I'd love the turbo but I think it's too far of a stretch for me)
I have a trade-in that I'm hoping to get $1k my way on the trade, but I'm anticipating most dealerships are not interested in a trade + giving cash on it + applying it for a lease.....we'll have to hope I get lucky there.
Whether I get the trade money or not, I'm looking for zero drive-off in the $250 per month price range.

I have been offered $262 on a 15' EX with no options and no trade.
So far that is my only interaction with a dealership.

If I can better understand how much cash they are getting from Kia to use towards the deal along with the MF and residual, maybe then I can sharpen my pencil a bit and understand what it reasonable and what is impossible.

I basically understand that $1k put down would lower the payment approx. $30 per month.
If I am getting $262 with no trade for the car I want, wouldn't it make sense that someone could take my vehicle and get me to $250 rather easily? Am I misguided in my assumptions?

You folks are the best.

In SoCal, the lease numbers on the 2015 Kia Optima EX are .00050 and 54% for 36 months, 12,000 miles per year. Subtract 2% if you want 15,000 miles. There is also $2500 lease cash - this is an incentive from the factory to the dealer. The dealer can choose to pass it along to the customer in the form of a lower selling price.

Don't negotiate payment - negotiate the lowest selling price, then make sure the dealer is using the base MF of .00050. That will result in the lowest lease payment.

Yes, $1K of trade equity would lower your payment by about $28/mo.

evoic

Michaell said:

In SoCal, the lease numbers on the 2015 Kia Optima EX are .00050 and 54% for 36 months, 12,000 miles per year. Subtract 2% if you want 15,000 miles. There is also $2500 lease cash - this is an incentive from the factory to the dealer. The dealer can choose to pass it along to the customer in the form of a lower selling price.

Don't negotiate payment - negotiate the lowest selling price, then make sure the dealer is using the base MF of .00050. That will result in the lowest lease payment.

Yes, $1K of trade equity would lower your payment by about $28/mo.

That is going to be helpful information.
To drill down a bit further, it might be an option for me to go with a 10k per year mileage plan as I do not do a massive amount of driving currently. (Maybe 5-7k miles average for the last few years)
I'm guessing that adds 2% to make it 56%?
And while we're here I was hoping to clarify something.
Let's say it is a $25k car that I get at a $20k price after rebates and incentives.
The 54% applies to the original number making the value after 3 years $13.5k?
I am fairly confident it's a yes but I would rather defer to the expert and find out for sure.

Assuming the above is correct, my math tells me $20,835 cap cost + $675 fees + $80 Acq for 36 mth/12k with 0.00050MF would come out to $262 per month.
And if I want better I need to only focus on having the dealership agree to a reduced selling price because the fees, Acq cost, MF, and residual are not changing.....only that cap cost is going to get my monthly reduced.
Do I have the basics down?

kyfdx

evoic said:

Michaell said:

In SoCal, the lease numbers on the 2015 Kia Optima EX are .00050 and 54% for 36 months, 12,000 miles per year. Subtract 2% if you want 15,000 miles. There is also $2500 lease cash - this is an incentive from the factory to the dealer. The dealer can choose to pass it along to the customer in the form of a lower selling price.

Don't negotiate payment - negotiate the lowest selling price, then make sure the dealer is using the base MF of .00050. That will result in the lowest lease payment.

Yes, $1K of trade equity would lower your payment by about $28/mo.

That is going to be helpful information.
To drill down a bit further, it might be an option for me to go with a 10k per year mileage plan as I do not do a massive amount of driving currently. (Maybe 5-7k miles average for the last few years)
I'm guessing that adds 2% to make it 56%?
And while we're here I was hoping to clarify something.
Let's say it is a $25k car that I get at a $20k price after rebates and incentives.
The 54% applies to the original number making the value after 3 years $13.5k?
I am fairly confident it's a yes but I would rather defer to the expert and find out for sure.

Assuming the above is correct, my math tells me $20,835 cap cost + $675 fees + $80 Acq for 36 mth/12k with 0.00050MF would come out to $262 per month.
And if I want better I need to only focus on having the dealership agree to a reduced selling price because the fees, Acq cost, MF, and residual are not changing.....only that cap cost is going to get my monthly reduced.
Do I have the basics down?

Going from 12K/yr to 10K/yr only adds 1% to the residual

Residual is always based on MSRP

sebastian10

Hi, please provide numbers for 24/12 SX loaded and SXL in Chicago.

Michaell

sebastian10 said:

Hi, please provide numbers for 24/12 SX loaded and SXL in Chicago.

SX - .00056 and 58%. $4500 lease cash

SXL - .00027 and 56%. $5500 lease cash.

sebastian10

Michaell said:

Hi, please provide numbers for 24/12 SX loaded and SXL in Chicago.

SX - .00056 and 58%. $4500 lease cash SXL - .00027 and 56%. $5500 lease cash.

Thanks! MF looks great, but these residuals are like for 3 years lol

sebastian10

Michaell said:

Hi, please provide numbers for 24/12 SX loaded and SXL in Chicago.

SX - .00056 and 58%. $4500 lease cash SXL - .00027 and 56%. $5500 lease cash.

Thanks! MF looks great, but these residuals are like for 3 years lol

Michaell

sebastian10 said:

Michaell said:

sebastian10 said:

Hi, please provide numbers for 24/12 SX loaded and SXL in Chicago.

SX - .00056 and 58%. $4500 lease cash

SXL - .00027 and 56%. $5500 lease cash.

Thanks! MF looks great, but these residuals are like for 3 years lol

Nope ... those are the 24 month residuals.

Kia is pushing 36 month leases. 53%/51% residual for SX and SXL. MF is higher and the lease cash is lower, however.

evoic

Michaell said:

Hello, Kia brains. Before I post my question, I just want to say thank you in advance for myself and thank you in general for everything that you do to help the people that come here for guidance. These are people making 2, 3, 4, 5+ year commitments with thousands and tens of thousands of dollars on the line, and you give them light in the darkness. It's really an awesome thing that you do for people and should be commended. Ok, my question. I'm shopping for a 36 month lease in SoCal. I'm looking for an EX or better model. (I'd love the turbo but I think it's too far of a stretch for me) I have a trade-in that I'm hoping to get $1k my way on the trade, but I'm anticipating most dealerships are not interested in a trade + giving cash on it + applying it for a lease.....we'll have to hope I get lucky there. Whether I get the trade money or not, I'm looking for zero drive-off in the $250 per month price range. I have been offered $262 on a 15' EX with no options and no trade. So far that is my only interaction with a dealership. If I can better understand how much cash they are getting from Kia to use towards the deal along with the MF and residual, maybe then I can sharpen my pencil a bit and understand what it reasonable and what is impossible. I basically understand that $1k put down would lower the payment approx. $30 per month. If I am getting $262 with no trade for the car I want, wouldn't it make sense that someone could take my vehicle and get me to $250 rather easily? Am I misguided in my assumptions? You folks are the best.

In SoCal, the lease numbers on the 2015 Kia Optima EX are .00050 and 54% for 36 months, 12,000 miles per year. Subtract 2% if you want 15,000 miles. There is also $2500 lease cash - this is an incentive from the factory to the dealer. The dealer can choose to pass it along to the customer in the form of a lower selling price. Don't negotiate payment - negotiate the lowest selling price, then make sure the dealer is using the base MF of .00050. That will result in the lowest lease payment. Yes, $1K of trade equity would lower your payment by about $28/mo.

I just wanted to follow up with you because I know too often you help people and never hear from them again. 
I ended up in a $26k EX on a 3yr/36k lease. 
They provided gap insurance, took care of the first payment, and included the Optima mats at signing. $1k total out the door and I ended up with a payment of $229.39 per month. I don't have the paperwork in front of me, but I believe the total incentives and rebates totalled $4400. 
Whatever the case, we paid exactly what we wanted to pay for the down ($1k) and got a payment $20 cheaper per month than we were originally aiming for by focusing on the final price as you advised. 

Thanks again and take care. 

twodice1

Michaell said:

twodice1 said:

Got an offer that I'm trying to determine if it is good enough:

Kia Optima 2015 EX with Premium Package, MSRP: $28,315, sale price: $25,696, Residual: 59% MF: 0.00049.

They claim to be using the $4k lease cash and $500 NY Auto Show bonus.

Upfront: $2K (all NY taxes and fees and a little more to pad the monthly cost), monthly: $258 - 24 months with 15K miles a year.

Thoughts?

I get $270/mo with those numbers, so your quote of $258/mo looks pretty good by comparison.

Took them up on this offer at Prestige Kia in NJ.

Thanks!

zozo2005

Hi! For SoCal, can i please get the residual and money factor for 2015 SX model. 36/12k..thanks!

soccerandlost

We didn't end up closing a deal last month. Any changes to the lease offerings on the 2015 Optima Hybrid EX?
Interested in 2x20k, 2x24k, 3x30k and 3x36k. Located in Southern California.

Also, what are the details on the 2015 Optima EX (gas engine)?

kyfdx

zozo2005 said:

Hi! For SoCal, can i please get the residual and money factor for 2015 SX model. 36/12k..thanks!

.00041 MF and 50% residual. $3500 lease cash

kyfdx

soccerandlost said:

We didn't end up closing a deal last month. Any changes to the lease offerings on the 2015 Optima Hybrid EX?
Interested in 2x20k, 2x24k, 3x30k and 3x36k. Located in Southern California.

Also, what are the details on the 2015 Optima EX (gas engine)?

I don't show any 24 month lease options for the Optima.

Hybrid EX: .00087 MF and 50% residual for 36mo, 12K/yr. $5000 lease cash. If 10K/yr is available, add 1%

Gas EX: .00052 MF and 52% residual. $3000 lease cash.

fjabad

Hello, 

Do you have the May Virginia numbers for 36/12K on an Optima EX?

Thank you 

Michaell

fjabad said:

Hello, 

Do you have the May Virginia numbers for 36/12K on an Optima EX?

Thank you 

.00081 and 52% for 36/12. $3000 lease cash.

jeffreyb3

Here is my final deal.

2015 Optima SXL
$36,335 MSRP
Selling Price: $33,000
Lease Rebate: $6,000
Capitalized Cost: $27,000
Residual: 55%
Money Factor: 0.00024
24 months/12K per
Monthly Payment
$303 Per Month (plus bank fee, dealer fee, state registration and plates, sales tax on rebate)
plus 6.5% Sales Tax here in FL

I tried as best I could to match your numbers, but it looks like our residuals are a little lower than some other places.

How d the $'s look?

Jeff

kyfdx

jeffreyb3 said:

Here is my final deal.

2015 Optima SXL
$36,335 MSRP
Selling Price: $33,000
Lease Rebate: $6,000
Capitalized Cost: $27,000
Residual: 55%
Money Factor: 0.00024
24 months/12K per
Monthly Payment
$303 Per Month (plus bank fee, dealer fee, state registration and plates, sales tax on rebate)
plus 6.5% Sales Tax here in FL

I tried as best I could to match your numbers, but it looks like our residuals are a little lower than some other places.

How d the $'s look?

Jeff

$303.mo. looks cheap.. how much due at signing?

jeffreyb3

Just 1st month's payment. The actual monthly cost is $420 because I rolled in all the upfronts (with a 0.5% interest rate, it's free money) They were abt. $2200 ($595 Lease fee, $698 Dealer Fee, $400 or so for new plates here in FL)Sales Tax on $6,000 Rebate of $390 and misc other state fees). Monthly of $322.95 with tax and $90 or so to pay back the $2,200

Jeff

jflack3

Please provide lease numbers for SXL turbo in wichita, Kansas 24/12

kyfdx

jflack3 said:

Please provide lease numbers for SXL turbo in wichita, Kansas 24/12

.00045 MF and 55% residual. $6000 lease cash

25or6to4

I've never leased before and I'm doing some research. I've looked at all the various numbers here and used a lease calculator to figure some things out but nothing comes close to an advertised deal in Massachusetts. 2015 Optima LX 2 year, 24,000 mile lease for $88 a month with no money down. It just seems too good to be true. Anyone know how they come to the $88 payment? I may look into this but I drive about 17,000 miles a year so I know I'll pay more.

Michaell

25or6to4 said:

I've never leased before and I'm doing some research. I've looked at all the various numbers here and used a lease calculator to figure some things out but nothing comes close to an advertised deal in Massachusetts. 2015 Optima LX 2 year, 24,000 mile lease for $88 a month with no money down. It just seems too good to be true. Anyone know how they come to the $88 payment? I may look into this but I drive about 17,000 miles a year so I know I'll pay more.

I'd have to know the MSRP and selling price in order to fully understand this offer. Usually advertised leases with such a low payment require a decent amount of money at the beginning of the lease.

Generally, the most mileage you can get with a lease is 15K per year; extra miles can be purchased up front for about .20 per mile.

25or6to4

MSRP $22,580
Advertised selling price $16,333
$0 down = $88 month (I know taxes will need to be added)

Michaell

25or6to4 said:

MSRP $22,580
Advertised selling price $16,333
$0 down = $88 month (I know taxes will need to be added)

The 24 month, 12,000 miles per year lease numbers on the Optima LX in MA are .00086 and 59%, along with $4000 lease cash (which I assume is the majority of the discount).

Plugging everything into my lease spreadsheet, I get a pre-tax payment of $150.95/mo. Not sure how the dealer gets it to $88/mo.

25or6to4

Thanks for your help. I guess the only way to find out is to ask them. 

Michaell

25or6to4 said:

Thanks for your help. I guess the only way to find out is to ask them. 

Yeah, I've gotta believe there's something we're missing from the equation for them to get a payment that low.

adamtennis

Hi, could you please provide the current leasing numbers for June for the Kia Optima EX (premium package); 36 month lease with 12k/yr; Florida. Thank you very much!

Michaell

adamtennis said:

Hi, could you please provide the current leasing numbers for June for the Kia Optima EX (premium package); 36 month lease with 12k/yr; Florida. Thank you very much!

.00052 and 52%. $3000 lease cash.

adamtennis

Thank you!

bionicone

Hi
Can you please give the numbers for 2015 optima ex and LX in Michigan for 24 and 36 months for 12k/yr? Is there any lease cash? 

Thanks!

Michaell

bionicone said:

Hi
Can you please give the numbers for 2015 optima ex and LX in Michigan for 24 and 36 months for 12k/yr? Is there any lease cash? 

Thanks!

24/12:
LX - .00086 and 59%. $4000 lease cash
EX - .00066 and 57%. $4500 lease cash

36/12:
LX - .00096 and 54%. $3000 lease cash
EX - .00052 and 52%. $3000 lease cash

wheels29

Hi, I was at the Kia dealership today in Idaho Falls, Idaho, and I think I found a great deal. I would like your opinion, please. This is my first lease deal. The leasing guy did not run my credit report. But I told him my credit score is about 750 and he used a money factor of .00128. Here are the numbers from the deal. I am contemplating doing the deal tomorrow.

2015 Kia Optima LX.

$22,580 MSRP

$20.299 Agreed upon value of the vehicle

-$3,000 cap reduction.

+$595 lease acquisition fee.

=$17,894 adjusted cap.

$12,193 residual (.54%)

$38 a month interest (money factor .00128)

$12.00 month sales tax.

$208 total monthly payment.

The $208 monthly payment does not include dealer doc fee or license title fee. The contract is asking for me to pay this up front, which amounts to $325, although I suppose I could ask them to roll it into the monthly payment.

Is this a good deal? I compared other car leases to this one, and nothing else comes close to this.

wheels29

ps... that's a 36 month lease, 12K a year mileage, and zero money down, except for the aforementioned $325 dealer doc fee and title fee.

kyfdx

wheels29 said:

ps... that's a 36 month lease, 12K a year mileage, and zero money down, except for the aforementioned $325 dealer doc fee and title fee.

Those are the correct rates and I get the same number.. Looks like a great deal and a very cheap lease.

wheels29

thank you. I just sent you an email because I didn't realize you had responded to my post. I really appreciate it, thanks.

wheels29

Something that confuses me is how you seem to connect the money factor to someone's geography. Isn't the money factor derived by a person's credit score? Does .000128 sound good for a 750 credit score living in Idaho? Thank you.

wheels29

I went to a different dealer in a nearby city, and for basically the same car (same MSRP give or take $20) they offered to give me a $179 lease, or $190. Their lease includes $595 lease acq and $299 dealer doc. There are two differences for the lower price. They included a military rebate, and also gave me .55% residual whereas the first dealer did not include a military rebate, and gave me a .54% residual. So now I am back at the first dealer to see if they will match the second dealer. I prefer the first dealer because I like the environment better (more professional).

Michaell

wheels29 said:

Something that confuses me is how you seem to connect the money factor to someone's geography. Isn't the money factor derived by a person's credit score? Does .000128 sound good for a 750 credit score living in Idaho? Thank you.

Kia has regional numbers, and the MF and residual vary based on where you live.

Yes, the credit score will also affect the MF as well.

jordan0826

Hi there I am interested in leasing a Kia Optima SX-Turbo with Premium and tech package at an MSRP; $34,600 for 36 Months and 36,000 miles.
I want to lease it by Mid December (should there be better deals since its the end of the year and the 2016 has been updated) with $3500 down including 1st months...
In Sacramento, CA area
Wanted to know if I could get it under $305 a month?

jordan0826

Also, would it be the same price as 2015 Kia Optima EX hybrid with both packages with the same $3500 down? 
If it's over $305, about how much over? 
Thanks if you can help  

kyfdx

jordan0826 said:

Hi there I am interested in leasing a Kia Optima SX-Turbo with Premium and tech package at an MSRP; $34,600 for 36 Months and 36,000 miles.
I want to lease it by Mid December (should there be better deals since its the end of the year and the 2016 has been updated) with $3500 down including 1st months...
In Sacramento, CA area
Wanted to know if I could get it under $305 a month?

We can't tell you now what a 2015 model will lease for in the Fall. Waiting until new models come out can be a dicey way to lease the old model. Sometimes, lease support will be pulled on the old models, when the new ones come out.

jordan0826

okay do you know how much it would be now? So I can have an idea of what my monthly payments would be...

Michaell

jordan0826 said:

okay do you know how much it would be now? So I can have an idea of what my monthly payments would be...

We would need to know the selling price in order to model a payment. 

We do not recommend making a down payment in a lease - if the car is stolen or totaled, you lose that money.