2016 Kia Sorento Lease Questions

jmoyer1881

To research local dealer inventory and pricing, reviews, features, and specifications, see Edmunds 2016 Kia Sorento page.


Does anyone know the money factor and residual value for the 2016 Kia Sorento EX FWD for 36/12? I am located in MD. Any help is appreciated. Thanks.

kyfdx

jmoyer1881 said:

Does anyone know the money factor and residual value for the 2016 Kia Sorento EX FWD for 36/12? I am located in MD. Any help is appreciated. Thanks.

.00090 MF and 60% residual. $1500 lease cash

jmoyer1881

Thanks. The help is appreciated.

jpdill5

Does anyone know the money factor and residual for a 36 months, 15k miles 2016 Sorento SX AWD in Illinois?

Michaell

jpdill5 said:

Does anyone know the money factor and residual for a 36 months, 15k miles 2016 Sorento SX AWD in Illinois?

.00098 and 59%. $500 lease cash.

arandazzo

Hi, I am looking for MF/Residual on a 2016 Limited V6 AWD for 10k miles for 36 months or 42. I am also considering the SX V6, so I am wondering if the rates are different.

Michaell

arandazzo said:

Hi, I am looking for MF/Residual on a 2016 Limited V6 AWD for 10k miles for 36 months or 42. I am also considering the SX V6, so I am wondering if the rates are different.

What state? The Kia numbers are regional.

eddieflash

Evening...any #s for a the '16 Sorrento? I was able to get from a few #s from a local dealership when I stopped in recently... '16 LX V6 AWD

MSRP: $32,355
Residual: $19,407
Term: 42 month(12K/per year)
DAS: $1,805
Payment: $336 (Rhode Island taxes included)

They didn't give me a breakdown of the Money Rate/Available Rebates since I was in a bit of a rush...I'm thinking about going back and discussing further but would like to try to fill in as many blanks as possible on my own.

Also do the rebates available on the '16 Sorrentos vary depending on the Trim and or Term of the lease? Can I realistically expect to get the purchase price of the vehicle BELOW MSRP since the cars are so new? Finally, is a Tier 4 credit level a "good" level with Kia? They told me my credit falls in that Tier and that seemed low for me since I believe I'm about a 680 score.

kyfdx

eddieflash said:

Evening...any #s for a the '16 Sorrento? I was able to get from a few #s from a local dealership when I stopped in recently... '16 LX V6 AWD

MSRP: $32,355
Residual: $19,407
Term: 42 month(12K/per year)
DAS: $1,805
Payment: $336 (Rhode Island taxes included)

They didn't give me a breakdown of the Money Rate/Available Rebates since I was in a bit of a rush...I'm thinking about going back and discussing further but would like to try to fill in as many blanks as possible on my own.

Also do the rebates available on the '16 Sorrentos vary depending on the Trim and or Term of the lease? Can I realistically expect to get the purchase price of the vehicle BELOW MSRP since the cars are so new? Finally, is a Tier 4 credit level a "good" level with Kia? They told me my credit falls in that Tier and that seemed low for me since I believe I'm about a 680 score.

.00149 MF and 60% residual. $500 lease cash.. for top tier. Tier 4 adds .00020 for .00169

I would ask them what selling price they are using to get that number, because it obviously includes a discount from MSRP.. Doesn't seem to bad, on the surface..

eddieflash

Thank you VERY much for the info...I plan on going in tomorrow morning and will share with the group the additional info I get

eddieflash

Here's my follow up guys...'16 AWD V6 LX

$32,345 MSRP

$31,741 Gross Cap (1.9% UNDER MSRP and $577 OVER TruCar Estimate)
-$2,558 ($1,500 of this is rebates, Lease/Competitive)

$29,183 Adj Cap Cost
$19,407 Residual (60%)

.00169 MF (converts to 4.06%...that's with a 672 credit score)

Monthly Payment $303 for 42 months (does NOT include taxes...$336.94/m AFTER Rhode Island Taxes
$1800 Due at signing (from what I can tell they are using $1,058 to go to cap cost reduction and $742 to go to fees)

I think its a decent deal considering (from what I can tell) the ONLY fees they are charging me is the bank fee ($595)and registration fees ($147)

Can't do much about the MF (due to my credit) and looks like the Gross Cap is ONLY made up of the sale price of the car (I know usually this is where they can throw in some additional fees)...THOUGHTS?

Feel free to ask any questions if I've failed to put up any info you might need/want

Michaell

eddieflash said:

Here's my follow up guys...'16 AWD V6 LX

$32,345 MSRP

$31,741 Gross Cap (1.9% UNDER MSRP and $577 OVER TruCar Estimate)
-$2,558 ($1,500 of this is rebates, Lease/Competitive)

$29,183 Adj Cap Cost
$19,407 Residual (60%)

.00169 MF (converts to 4.06%...that's with a 672 credit score)

Monthly Payment $303 for 42 months (does NOT include taxes...$336.94/m AFTER Rhode Island Taxes
$1800 Due at signing (from what I can tell they are using $1,058 to go to cap cost reduction and $742 to go to fees)

I think its a decent deal considering (from what I can tell) the ONLY fees they are charging me is the bank fee ($595)and registration fees ($147)

Can't do much about the MF (due to my credit) and looks like the Gross Cap is ONLY made up of the sale price of the car (I know usually this is where they can throw in some additional fees)...THOUGHTS?

Feel free to ask any questions if I've failed to put up any info you might need/want

Even with the inflated MF, it looks like a pretty decent deal.

However, when I plug your numbers into my spreadsheet, I get a pre-tax payment of $314.88. So, you seem to be ahead of the game with only $303 before tax.

ajfresh

NEED HELP!

I'm compelled to pull the trigger on a '16 SXL before the current incentives expire (3/3). This is the lease deal I'm being quoted by my local dealer. Can anyone confirm its legit?

SXL V6 with tech package
35 months
12K
Gross Cap $39,717
$2500 cap reduction
MF .00064
Payment $496+

Should I or shouldn't I?

nyccarguy

What's the car's MSRP?

Don't make a $2,500 cap reduction. If your Kia gets stolen or totaled at any time during the lease, you lose that money.

What is the sales tax rate where you are?

ajfresh

I can't say for certain as the dealer is trying to acquire the model but I believe its around $44,300 for that model. Tax rate is 9%

Michaell

ajfresh said:

NEED HELP!

I'm compelled to pull the trigger on a '16 SXL before the current incentives expire (3/3). This is the lease deal I'm being quoted by my local dealer. Can anyone confirm its legit?

SXL V6 with tech package
35 months
12K
Gross Cap $39,717
$2500 cap reduction
MF .00064
Payment $496+

Should I or shouldn't I?

ajfresh said:

I can't say for certain as the dealer is trying to acquire the model but I believe its around $44,300 for that model. Tax rate is 9%

I'll assume FWD since you are in CA ... 36/12 numbers for the 2016 SXL FWD are .00064 and 55%. $1500 lease cash, which I assume is built into your gross cap number.

I'm calculating a pre-tax, $0 cap cost reduction (I agree with @nyccarguy‌ on this; down payments on a lease are a bad idea) payment of $467.46/mo; 9% tax takes the payment to $509.53.

Your quote of $496/mo pre-tax is a bit high. Either there is a disconnect on the cap cost, or the dealer is inflating the MF for extra profit.

ajfresh

Thank you!

ck90211

Looking for current MF, residual and any incentives on 2016 LX or EX V6 AWD with 3rd row. I'm in Maryland. Thank you.

kyfdx

ck90211 said:

Looking for current MF, residual and any incentives on 2016 LX or EX V6 AWD with 3rd row. I'm in Maryland. Thank you.

36mo, 12K/yr

LX: .00153 MF and 64% residual. $500 lease cash

EX: .00097 MF and 59% residual. $500 lease cash

cars_are_fun

I am looking at leasing a 2016 AWD Limited V6 w/limited technology package in NJ. I would appreciate the residual and MF for the 24 month lease for 12k and 15k miles a year. If 24 month not available please supply 36 but I think they are running a 24 month program here. I believe the bank fee is $595. Could someone confirm that for me and let me know if there is any turn in fee at lease end. Thanks so much for the help!

hddeuce

I'm looking for lease info on a 2015 & 2016 Kia Sorento LX 15K miles 36 months. I'm in SW Florida. Thanks in advance.

herby2132

I would greatly appreciate it if you could provide me with the Mar3ch numbers for the 2016 Kia Sorrento EX FWD with the Premium Package as well as the Sorrento EX FWD with the Touring Package. I live in NC. Looking for lease cash, residual value, and money factor. Looking at 36, 42, and 48 months with 10k miles. Thanks again!

kyfdx

cars_are_fun said:

I am looking at leasing a 2016 AWD Limited V6 w/limited technology package in NJ. I would appreciate the residual and MF for the 24 month lease for 12k and 15k miles a year. If 24 month not available please supply 36 but I think they are running a 24 month program here. I believe the bank fee is $595. Could someone confirm that for me and let me know if there is any turn in fee at lease end. Thanks so much for the help!

.00093 MF and 65%/63% residual for 24mo, 12K/15K/yr lease. $2500 lease cash.

I don't know the KMF acquisition fee, but $595 seems likely.

Michaell

hddeuce said:

I'm looking for lease info on a 2015 & 2016 Kia Sorento LX 15K miles 36 months. I'm in SW Florida. Thanks in advance.

I'll assume FWD since you are in Florida.

2016 2.4 - .00091 and 57 %. $500 lease cash

2016 3.3 - .00137 and 60%. $500 lease cash

2015 2.4 - .00102 and 53%. $2500 lease cash

2015 3.3 - .00107 and 54%. $2500 lease cash

Michaell

herby2132 said:

I would greatly appreciate it if you could provide me with the Mar3ch numbers for the 2016 Kia Sorrento EX FWD with the Premium Package as well as the Sorrento EX FWD with the Touring Package. I live in NC. Looking for lease cash, residual value, and money factor. Looking at 36, 42, and 48 months with 10k miles. Thanks again!

No 42 month numbers. Specific option groups do not affect the numbers.

Which engine - 2.0T or 3.3 V6?

codytho

Looking for some info in MN on 2016 Kia Sorento AWD SXL Tech. Gross Cap. MF. Residual

codytho

36 Mo 15k lease sorry

herby2132

Looking for the 2.0T figures. Thanks!

kyfdx

Michaell said:

herby2132 said:

I would greatly appreciate it if you could provide me with the Mar3ch numbers for the 2016 Kia Sorrento EX FWD with the Premium Package as well as the Sorrento EX FWD with the Touring Package. I live in NC. Looking for lease cash, residual value, and money factor. Looking at 36, 42, and 48 months with 10k miles. Thanks again!

No 42 month numbers. Specific option groups do not affect the numbers.

Which engine - 2.0T or 3.3 V6?

herby2132 said:

Looking for the 2.0T figures. Thanks!

.00080 MF and 59% residual. $500 lease cash. 36/10

.00015 MF and 49% residual. $500 lease cash. 48/10

kyfdx

codytho said:

Looking for some info in MN on 2016 Kia Sorento AWD SXL Tech. Gross Cap. MF. Residual

codytho said:

36 Mo 15k lease sorry

2.0L: .00045 MF and 53% residual. $1500 lease cash

3.3L: .00081 MF and 55% residual. $1500 lease cash

herby2132

Thanks kyfdx. would you also happen to have the 36/10 and 36/12 numbers for the Kia Sorento 2.0 Limited FWD? I live in NC.

kyfdx

herby2132 said:

Thanks kyfdx. would you also happen to have the 36/10 and 36/12 numbers for the Kia Sorento 2.0 Limited FWD? I live in NC.

.00047 MF and 54% residual. $1500 lease cash.

Add 1% for 10K/yr

Michaell

ncpmh said:

I am looking for the money factor, residual and any lease cash on the 2016 Kia Sorento 3.3 EX FWD in North Carolina please. Thanks in advance for the help!

ncpmh said:

Sorry looking for 12k and 15k residuals

.00133 and 61% for 36/12. Subtract 2% for 15k. $500 lease cash. 

codytho

kyfdx said:

codytho said:

Looking for some info in MN on 2016 Kia Sorento AWD SXL Tech. Gross Cap. MF. Residual

codytho said:

36 Mo 15k lease sorry

2.0L: .00045 MF and 53% residual. $1500 lease cash

3.3L: .00081 MF and 55% residual. $1500 lease cash

Yuck. That lease doesn't much entice me. Thanks

herby2132

Hi all,

Just wondering if I am getting a good deal here. 2016 KIA Sorento EX FWD 2.0T with Premium Package.
MSRP: $35,173
Selling Price: $32,654
Rebates: $1,500
Down Payment: $1,500
Residual: 58%
Money Factor: 0.008
NC Tax of 3%
Comes out to $356 month for 36 months with 12k miles

Looking to pull the trigger this weekend so all help is appreciated.

Thanks,

lucidrenegade

What are the 36/12k numbers for a 2016 v6 AWD SX-L for Ohio? Out of curiosity, does the lease residual track pretty close to the actual blue book value of the car after 3 years, or is it artificially high like Audi/Mercedes leases? Thanks!

kyfdx

lucidrenegade said:

What are the 36/12k numbers for a 2016 v6 AWD SX-L for Ohio? Out of curiosity, does the lease residual track pretty close to the actual blue book value of the car after 3 years, or is it artificially high like Audi/Mercedes leases? Thanks!

.00081 MF and 57% residual. $1500 lease cash.

I wouldn't bet on any residual matching the value at lease end..

kylez0209

Hello. Can I get the residual, MF, and any lease cash on a 2015 Sorento LX 2wd in SoCal? 

kylez0209

Whoops... 3 yr/12k lease 

kyfdx

kylez0209 said:

Hello. Can I get the residual, MF, and any lease cash on a 2015 Sorento LX 2wd in SoCal? 

kylez0209 said:

Whoops... 3 yr/12k lease 

2.4L? .00102 MF and 55% residual. $2500 lease cash

jkd111

Looking for lease numbers please for Illinois (Chicago)...thank you in advance!

2016 Sorento EX AWD 2.0T - 24/36 mos/15K miles

2016 Sorento EX AWD 3.3V6 - 24/36 mos/15K miles

2016 Sorento SX AWD 3.3V6 - 24/36 mos/15K miles

Michaell

jkd111 said:

Looking for lease numbers please for Illinois (Chicago)...thank you in advance!

2016 Sorento EX AWD 2.0T - 24/36 mos/15K miles

2016 Sorento EX AWD 3.3V6 - 24/36 mos/15K miles

2016 Sorento SX AWD 3.3V6 - 24/36 mos/15K miles

24/15 numbers:
EX 2.0T - .00024 and 65%
EX 3.3 - .00101 and 68%
SX - .00102 and 68%
$500 lease cash

36/15 numbers:
EX 2.0T - .00073 and 57%
EX 3.3 - .00127 and 60%
SX - .00128 and 60%
$500 lease cash.

paulsaz

Looking to lease a new 2016 Sorento LX or EX 2wd 36/10 or 36/12 in Arizona. Current Sorento lease is up in May. Only drive about 8,000 per year.

Michaell

paulsaz said:

Looking to lease a new 2016 Sorento LX or EX 2wd 36/10 or 36/12 in Arizona. Current Sorento lease is up in May. Only drive about 8,000 per year.

No 10K leases for Kia.

Which engines on the LX or EX?

paulsaz

Both, regular and V6.

Michaell

paulsaz said:

Looking to lease a new 2016 Sorento LX or EX 2wd 36/10 or 36/12 in Arizona. Current Sorento lease is up in May. Only drive about 8,000 per year.

paulsaz said:

Both, regular and V6.

36/12 numbers:

LX 2.4 - .00091 and 59%
LX 3.3 - .00137 and 62%
EX 2.0T - .00080 and 58%
EX 3.3 - .00133 and 61%

$500 lease cash for all

paulsaz

Thanks.

paulsaz

Are the April numbers the same?

Michaell

paulsaz said:

Are the April numbers the same?

We don't yet have any April lease numbers from Kia...

EDIT - sorry, just realized that the March numbers for Kia are set to expire on May 5th, so no changes for April.

little80

Looking for current mf and incentives on a 2.0 limited/v6 awd for 36/12 in NJ

Michaell

little80 said:

Looking for current mf and incentives on a 2.0 limited/v6 awd for 36/12 in NJ

SXL 2.0T AWD - .00045 and 55%

SXL V6 AWD - .00081 and 57%

$1500 lease cash.