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2016 Kia Sedona SX LEASE URGENT HELP PLEASE!

mihzyd777mihzyd777 Posts: 7
edited December 2016 in Kia
Hello,

I just posted the below in the Kia Sedona forum but this one may be more appropriate.

Waiting for a call back from dealership here in California for a new 2016 Kia Sedona SX with Technology package. Here is the information I have from one dealership:
This is for 36 month /15k but would also do 12k if better.

MSRP: $41,470
Lease Cash: $6500 from what I'm told (Some dealers not realizing there is that much lol)
Money Factor: .00130%
They are telling me NET CAP is: $34,970
They are also telling me residual at end of lease is $17,832.00 (sounds really low is this negotiable?)

Total payments with 8.5% tax in my area is $508/month. Which to me sounds ABSURD! I'm waiting for another dealer in San Jose, CA who has the actual vehicle. All the other dealers I was going to get the car from were going to ship it from that location as they have all of them.

Does any of that sound right to anyone? Please help on what I should pay, because the Net Cap sounds like they are just taking the $6500 and subtracting the $6500 lease cash from it, which means they aren't even working with me on lowering the price of the car right? There is no way I will pay MSRP that's crazy!

HELP PLEASE

Comments

  • kyfdxkyfdx Posts: 157,058
    .00130 MF and 44% residual for 36/15.
    $6500 lease cash.
    44% residual = $18,247

    How much is due at signing with this quote?
    The payment actually looks cheap, given the numbers given, but I agree... their numbers indicate no discount from MSRP, though the final number suggests there may be a discount.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • mihzyd777mihzyd777 Posts: 7
    edited December 2016
    Ok here is the final deal offered. Please be honest tell me if it seems good or if I should pass especially with 2017 coming out.

    2016 Sedona SX Fully loaded minus sun roof in Titanium Bronze with following additional equipment added:
    *Technology Package
    *Xenon HID Headlights w/ High Beam assist
    *Cargo Net
    *Remote Start
    *Luggage Zone 115v power inverter
    *Removable 2nd Row Center Seat

    DEAL:
    MSRP: $41,470
    Gross Capitalized Cost: $36,709.82
    My down payment: $1,000 (Covers 1st month payment too)
    Money Factor 0.00170 % (I believe this is what they said it was, could be wrong)
    Kia Lease Incentive on 2016: $6500
    Capitalized Cost Reduction: $6,453.82
    Adjusted Capitalized Cost: $31,264.00
    Tax on Capitalized Cost Reduction $548.57
    Residual Value: $18,661.50
    Aquisition Fee $595.00
    Electronic Registration Fee $29
    Initial License, Title and Registration Fees $353.00
    California Tire Fee $7
    Monthly Sales Tax: $34.60 (My local tax rate is 8.5%)
    Leased for 39 months/12k yr. @ $441.61/month total with everything


    Good deal?



  • MichaellMichaell ColoradoPosts: 150,853
    mihzyd777 said:

    Ok here is the final deal offered. Please be honest tell me if it seems good or if I should pass especially with 2017 coming out.

    2016 Sedona SX Fully loaded minus sun roof in Titanium Bronze with following additional equipment added:
    *Technology Package
    *Xenon HID Headlights w/ High Beam assist
    *Cargo Net
    *Remote Start
    *Luggage Zone 115v power inverter
    *Removable 2nd Row Center Seat

    DEAL:
    MSRP: $41,470
    Gross Capitalized Cost: $36,709.82
    My down payment: $1,000 (Covers 1st month payment too)
    Money Factor 0.00170 % (I believe this is what they said it was, could be wrong)
    Kia Lease Incentive on 2016: $6500
    Capitalized Cost Reduction: $6,453.82
    Adjusted Capitalized Cost: $31,264.00
    Tax on Capitalized Cost Reduction $548.57
    Residual Value: $18,661.50
    Aquisition Fee $595.00
    Electronic Registration Fee $29
    Initial License, Title and Registration Fees $353.00
    California Tire Fee $7
    Monthly Sales Tax: $34.60 (My local tax rate is 8.5%)
    Leased for 39 months/12k yr. @ $441.61/month total with everything


    Good deal?

    MF is marked up the max amount allowed (base is .00130). 45% residual.

    With your MSRP and adjusted cap cost, I get $442.70 with the inflated MF, $421/mo with the base MF.

    Marked up MF is costing you about $800 over the life of the lease.

    We don't track selling prices, so no idea if you can get lower, or not. Can't hurt to try.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Ok working with 3 dealerships and the $441.61 seems to be the best deal. Nobody will budge anymore. The next deal from another dealer is $508/month. For same car and msrp.

    So what would you do. Turning lease explorer soon about 4 weeks.

    Thanks again.
  • MichaellMichaell ColoradoPosts: 150,853
    mihzyd777 said:

    Ok working with 3 dealerships and the $441.61 seems to be the best deal. Nobody will budge anymore. The next deal from another dealer is $508/month. For same car and msrp.

    So what would you do. Turning lease explorer soon about 4 weeks.

    Thanks again.

    Doesn't look like there is any more room to move, on the price.

    If you're comfortable with the selling price, and you are getting the base MF, I don't think there is much left to do.

    Other that to decide to sign - or not.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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