Is this a good deal on a 2020 Sportage LX FWD?

ZBXY

Hi! Is this a good deal for a 2020 Sportage LX FWD? Zip code is 30291. I'm a little confused on how they arrived at that cap cost on the second image but the guy I've been emailing with didn't have a great answer.

Important side note: I am currently leasing a 2017 Sportage LX AWD with a maturity date of 4/1/2020 with about $800 worth of payments left that I'd like to roll in to a new lease so that I can take advantage of year-end savings. Is this a wise move?

Idea is to just bring in the old lease and leave the lot with a new lease zero drive-off or at most first months payment.

kyfdx

I don't think this deal is going to happen, because they've used the wrong residual.
The 62% residual is for 24 months, not 36 months

36/12 residual is 57%

The reason the adjusted CAP doesn't match the balance?
If you add up the numbers in the right hand column, you'll find that the total is more than the "Balance" given.
Also, if you do a ZERO due at signing lease, you are effectively adding the first payment to the adjusted CAP, as that is usually due at signing.

ZBXY

kyfdx said:

I don't think this deal is going to happen, because they've used the wrong residual.
The 62% residual is for 24 months, not 36 months

36/12 residual is 57%

The reason the adjusted CAP doesn't match the balance?
If you add up the numbers in the right hand column, you'll find that the total is more than the "Balance" given.
Also, if you do a ZERO due at signing lease, you are effectively adding the first payment to the adjusted CAP, as that is usually due at signing.

I see. That is unfortunate. I wonder if I can still try and use the first image to try and get a different dealership to match or beat this offer. They wouldn't known the RV% is wrong without the second image.

So if I brought this PDF in to the dealership, you don't think they'd honor it even though it has a managers signature on it?

Michaell

ZBXY said:

kyfdx said:

I don't think this deal is going to happen, because they've used the wrong residual.
The 62% residual is for 24 months, not 36 months

36/12 residual is 57%

The reason the adjusted CAP doesn't match the balance?
If you add up the numbers in the right hand column, you'll find that the total is more than the "Balance" given.
Also, if you do a ZERO due at signing lease, you are effectively adding the first payment to the adjusted CAP, as that is usually due at signing.

I see. That is unfortunate. I wonder if I can still try and use the first image to try and get a different dealership to match or beat this offer. They wouldn't known the RV% is wrong without the second image.

So if I brought this PDF in to the dealership, you don't think they'd honor it even though it has a managers signature on it?

They can't honor it - the bank would reject the application as the term and residual don't align.

ZBXY

I currently pay $269 (36/10k) for my 2017 Kia Sportage LX AWD and I didn't put any money down for it. Must have been a great deal...

I got this offer too. Looks like it's $330 for 36/12k. Definitely not as attractive; we want to stay closer to what we pay now, although I realize we'll be paying more due to the payoff, TAVT, and extra miles.

Do you have any recommendations on how I should proceed?

kyfdx

ZBXY said:

I currently pay $269 (36/10k) for my 2017 Kia Sportage LX AWD and I didn't put any money down for it. Must have been a great deal...

I got this offer too. Looks like it's $330 for 36/12k. Definitely not as attractive; we want to stay closer to what we pay now, although I realize we'll be paying more due to the payoff, TAVT, and extra miles.

Do you have any recommendations on how I should proceed?

Go back to the first dealer, and tell them you'll take the deal, and see what happens?

But, you will still be eating four payments. I don't see that accounted for in the quote, anywhere.

These are 2020 models. Why try to get out of a good lease payment early? They will sell the 2020 model, all year long.

ZBXY

You're right. I'm just under the impression that the year-end deals are too good to pass up even when rolling in the extra payments but I think I should just wait and revisit in March. Thanks!