2023 Kia EV6 Lease Deals and Purchase Prices

Michaell

rafaeng said:

MF/Residual/Incentives for MY23 Kia Ev6 GT 36/10, 36/12 Zip: 33180

Thank you!

36/12
.00340 MF and 55% residual
$7500 lease cash

KaRo

@swamyb, the MF you were given is not the base MF. They marked it up. Base is . 00341. Don't get swindled.

KaRo

@sam_k said:

@Michaell said:
Don't hold your breath....

We've been thinking the same thing for the last year, now, and nothing significant has happened yet to turn the market around.

I hear you but up until early 2022 loan/lease interest rates were below 3% and inflation wasn't high. I got 1.99% for 72 months from TD Bank through a dealer for my brother in law's 2022 Sorento in Dec 2021. I follow car industry people on YouTube and Twitter (shout out to GuyDealership) and they're all reporting that sales are down. DealerTrack just today reported the average new car loan interest rate is 8.98% so if they stay at that level then it will affect demand. We're also seeing inventory levels rise for some brands just not the really popular brands like Toyota, Honda, Kia, Hyundai and others.

I saw a dealership with 23 EV6s available. They must have an off site lot somewhere the size of 2 football fields. Not that long ago you couldn't find any EV unless you lived in Cali or went the direct to consumer route.

cmklein20

Are June numbers out yet? MF any better?

Michaell

cmklein20 said:

Are June numbers out yet? MF any better?

May programs carried over into June.

And, it's better if you ask your entire question, rather than asking about changes from one month to the next - we don't have previous program information available to us.

swamyb

KaRo said:

@swamyb, the MF you were given is not the base MF. They marked it up. Base is . 00341. Don't get swindled.

Thanks. I will wait.

ChadMan_1

There are deals to be had. I signed today. Dealers get an EV9 allocated to them when the sell an EV6, so they can take a loss on an EV6 because they will make a lot more on an EV9.

kyfdx

ChadMan_1 said:

There are deals to be had. I signed today. Dealers get an EV9 allocated to them when the sell an EV6, so they can take a loss on an EV6 because they will make a lot more on an EV9.

Thanks for the report

snapthefuzz

Hello,

Could I please get the money factor and residual for both wind rwd and awd in 90065.

Thanks again

Michaell

snapthefuzz said:

Hello,

Could I please get the money factor and residual for both wind rwd and awd in 90065.

Thanks again

What lease term and how many miles per year?

snapthefuzz

@Michaell said:
What lease term and how many miles per year?

I knew I forgot something. Lol. I’m looking at 36/12.

Thank you

Michaell

snapthefuzz said:

Hello,

Could I please get the money factor and residual for both wind rwd and awd in 90065.

Thanks again

snapthefuzz said:

@Michaell said:

What lease term and how many miles per year?

I knew I forgot something. Lol. I’m looking at 36/12.

Thank you

AWD - .00341 and 57%
RWD - .00340 and 57%
$7500 lease cash

enthusiastdre

@Michaell Do you see a lease program on the Light trim (RWD, "Standard Range")? If one exists, zip would be 92821 (36M/10K term). Thank you.

kyfdx

enthusiastdre said:

@Michaell Do you see a lease program on the Light trim (RWD, "Standard Range")? If one exists, zip would be 92821 (36M/10K term). Thank you.

GT, GT-Line, or Wind.. is all we show

ikillratz

Can I have the numbers for a GT-Line RWD in zip 24541 for the following terms?
36/10
36/12

The incentive was just increased by $1K if you previous owned a kia which I currently do according to this https://www.carsdirect.com/deals-articles/kia-slaps-1-000-loyalty-discount-on-ev6#:~:text=Starting today, the $1,000 loyalty,be combined with other incentives. This means the normal $7,500 incentive now is $8,500 right?

Michaell

ikillratz said:

Can I have the numbers for a GT-Line RWD in zip 24541 for the following terms?

36/10

36/12

The incentive was just increased by $1K if you previous owned a kia which I currently do according to this https://www.carsdirect.com/deals-articles/kia-slaps-1-000-loyalty-discount-on-ev6#:~:text=Starting today, the $1,000 loyalty,be combined with other incentives. This means the normal $7,500 incentive now is $8,500 right?

36/12
.00341 MF and 57% RV
$7500 lease cash
$1000 loyalty

sam_k

@ikillratz said:
Can I have the numbers for a GT-Line RWD in zip 24541 for the following terms?
36/10
36/12

The incentive was just increased by $1K if you previous owned a kia which I currently do according to this https://www.carsdirect.com/deals-articles/kia-slaps-1-000-loyalty-discount-on-ev6#:~:text=Starting today, the $1,000 loyalty,be combined with other incentives. This means the normal $7,500 incentive now is $8,500 right?

Thanks for this info about the $1k loyalty incentive. Now all Kia needs to do is reduce the money factor so it's equivalent to a lower interest rate.

ikillratz

@sam_k said:

@ikillratz said:
Can I have the numbers for a GT-Line RWD in zip 24541 for the following terms?
36/10
36/12

The incentive was just increased by $1K if you previous owned a kia which I currently do according to this https://www.carsdirect.com/deals-articles/kia-slaps-1-000-loyalty-discount-on-ev6#:~:text=Starting today, the $1,000 loyalty,be combined with other incentives. This means the normal $7,500 incentive now is $8,500 right?

Thanks for this info about the $1k loyalty incentive. Now all Kia needs to do is reduce the money factor so it's equivalent to a lower interest rate.

Yeah, if it was half what it is now I would rush out and get one

Michaell

ikillratz said:

@sam_k said:

@ikillratz said:

Can I have the numbers for a GT-Line RWD in zip 24541 for the following terms?

36/10

36/12

The incentive was just increased by $1K if you previous owned a kia which I currently do according to this https://www.carsdirect.com/deals-articles/kia-slaps-1-000-loyalty-discount-on-ev6#:~:text=Starting today, the $1,000 loyalty,be combined with other incentives. This means the normal $7,500 incentive now is $8,500 right?

Thanks for this info about the $1k loyalty incentive. Now all Kia needs to do is reduce the money factor so it's equivalent to a lower interest rate.

Yeah, if it was half what it is now I would rush out and get one

Not likely to happen, any time soon....

mard71

Kia trying to entice people to buy foreign electric cars with $7,500 towards lease but without any discount off MSRP and them jacking up their MF, the lease is absurd.

ChadMan_1

These cars are definitely being sold under MSRP!

Michaell

ChadMan_1 said:

These cars are definitely being sold under MSRP!

Got an example to share with us? Or a link?

sam_k

I just saw on slickdeals that Hyundai is offering the Ioniq 5 with 24, 36 or 48-Month Financing starting as low as 0.99% APR and $0 Down Payment for very well-qualified buyers when purchased between 6/14/2023 through 7/5/2023. I'd say that's a sign that demand is softening for the Ioniq 5 so we'll see if that happens to the EV6.

ChadMan_1

You can search on Kia.com which dealership in your area has significant inventory. I’m in PHX and the first dealer I went to was Earnhardt Peoria because I had just bought a Hyundai Tucson through another Earnhardt dealer. They had ~6-8 units. I was dealing with the internet guy and he quoted sticker. Out of frustration I had him connect me with his sales manager and I got them to $1000 under sticker. So you know, invoice on the Wind RWD is only ~$600 less than sticker ($50,193 on $50,750 MSRP—they gave me a copy). Holdback is ~$1600. I passed on the deal. I then contacted Horne Kia because they have ~60 EV6’s on the lot—more than half the entire inventory in greater Phoenix. I wanted $2k off sticker with no add-on costs. I went directly to upper management—literally walked in the store and sought him out. Website lists management. I can tell you I get a deal that was better than $2k off sticker. I’m not willing to give the exact transaction sale price. They were willing to sell at a loss because they get an EV9 allocated for every EV6 they sell, and they anticipate making >$10k on every EV9.

The $7500 lease cash is very powerful. You want to take advantage of that. I suspect after 7/5 it goes down to $5k. The current lease cash more than negates the high MF.

Michaell

ChadMan_1 said:

You can search on Kia.com which dealership in your area has significant inventory. I’m in PHX and the first dealer I went to was Earnhardt Peoria because I had just bought a Hyundai Tucson through another Earnhardt dealer. They had ~6-8 units. I was dealing with the internet guy and he quoted sticker. Out of frustration I had him connect me with his sales manager and I got them to $1000 under sticker. So you know, invoice on the Wind RWD is only ~$600 less than sticker ($50,193 on $50,750 MSRP—they gave me a copy). Holdback is ~$1600. I passed on the deal. I then contacted Horne Kia because they have ~60 EV6’s on the lot—more than half the entire inventory in greater Phoenix. I wanted $2k off sticker with no add-on costs. I went directly to upper management—literally walked in the store and sought him out. Website lists management. I can tell you I get a deal that was better than $2k off sticker. I’m not willing to give the exact transaction sale price. They were willing to sell at a loss because they get an EV9 allocated for every EV6 they sell, and they anticipate making >$10k on every EV9.

The $7500 lease cash is very powerful. You want to take advantage of that. I suspect after 7/5 it goes down to $5k. The current lease cash more than negates the high MF.

Thanks for the detailed report.

Why not share the price? It will give other members a target.

sam_k

@ChadMan_1 said:
The $7500 lease cash is very powerful. You want to take advantage of that. I suspect after 7/5 it goes down to $5k. The current lease cash more than negates the high MF.

Thanks for the info. I looked on autotrader and there were several discounted EV6 GT-Lines near me but I'm wondering if they're legit or just out out there for bait and switch.

I'm curious why you think the lease cash will drop to $5k after 7/5 when the current $7500 lease cash is just Kia passing on the federal tax credit? Plus they just added an additional $1k loyalty discount.

Beamer35

Can I have the RV/MF for a EV6 Wind RWD 24/10 (if available) and 36/10 @22201

ChadMan_1

I am not going to disclose the exact discount but it was greater than $2k on the Wind RWD and they included tint. I would go direct to the dealer, not autotrader. I have no insight on the discount after 7/5 but they’ve kept this promotion for a while now I think they will change it. My gut tells me the next offer with have a lower MF and lower lease cash. Also, I think doing something before month end is to the buyers advantage—dealers want to finish the month strong. Just don’t deal with anyone who is not a decision maker. That’s key.

sam_k

@ChadMan_1 said:
I would go direct to the dealer, not autotrader. I have no insight on the discount after 7/5 but they’ve kept this promotion for a while now I think they will change it. My gut tells me the next offer with have a lower MF and lower lease cash. Also, I think doing something before month end is to the buyers advantage—dealers want to finish the month strong. Just don’t deal with anyone who is not a decision maker. That’s key.

I brought up the EV6 prices on autotrader just to support your point that they're being discounted. I wasn't suggesting anyone go through them to buy/lease an EV6. I'd be surprised if they reduce the lease cash because then it will look like Kia is trying to pocket some of federal EV tax credit and it's better from a marketing perspective to show higher lease cash than a lower money factor. I guess we'll find out in a couple of weeks.

Michaell

Beamer35 said:

Can I have the RV/MF for a EV6 Wind RWD 24/10 (if available) and 36/10 @22201

No 24 month term for the EV6

36/10
.00340 MF and 58% RV
$7500 lease cash

600poundsofsin

Hello,

Can I please have the MF/RV for both EV6 Wind AWD 36/12 and EV6 GT-Line AWD 36/12? Zip is 91205.

Thanks!

Michaell

600poundsofsin said:

Hello,

Can I please have the MF/RV for both EV6 Wind AWD 36/12 and EV6 GT-Line AWD 36/12? Zip is 91205.

Thanks!

.00341 MF
$7500 lease cash
Wind - 57%
GTL - 56%

ikillratz

ChadMan_1 said:

I am not going to disclose the exact discount but it was greater than $2k on the Wind RWD and they included tint.

Still don't see why you won't discuss the exact discount. Disclosing the discount hurts no one and only helps others looking for a similar car. I went to a local dealer in North Carolina that was advertising up to a $10K discount on the EV6. It was a bait and switch though. Went there and when we got down to pricing it come out that the discount was off the upcharge price not the MSRP. I asked about multiple EV6s on their lot and the discount was different on each car and pretty much was just to get the car back to MSRP. So really there was no discount, you just got the car at MSRP pricing. They had about 15 on their lot and they said the upcharge was due to low supply and the discount was due to low demand. Made no sense. If they want to sell the cars they should apply the discount to the MSRP. I know if I got a similar discount off the MSRP I would have bought that day. I told them that and they still wouldn't budge. They said the supply didn't justify that much of a discount even though the cars are sitting on their lot for 60+ days.

I was only able to find one dealer in North Carolina willing to sell a Gt-Line RWD under MSRP, it was around $4,400 under at $50K before any incentives or other Cap Cost reductions are applied.

swamyb

I spoke with a dealer in Southern California who offered a $6,000 discount on the GT Line. However, they included additional options that are not useful to me. The add-ons and extra fees amounted to $4,500, which nearly matches the Manufacturer's Suggested Retail Price (MSRP). Many people fell for the $7,500 incentive, regardless of the add-ons and fees, resulting in higher EV6 sales in May compared to previous months. I plan to wait until September when the 2024 EV6 and EV9 models are released, as there may be discounts available for the 2023 EV6s

ikillratz

It just seemed nonsensical for the dealer I went to with around 15 EV6s on the lot to say the markup was due to shortages and then say in the very next line they are discounting the EV6 since no one in the area wants one. The "discount" they were advertising was just getting the price back down to MSRP. I hope no one fell for that at the dealer I went to.

ChadMan_1

@ikllratz—-my deal on the RWD Wind is near the discount to MSRP you mentioned for the GT. I took delivery Tuesday. Good luck.

cjr3113

Hello,

May I please have the MF/RV for the EV6 GT-Line AWD 36/10 in zip code 76710?

Thanks!

kyfdx

cjr3113 said:

Hello,

May I please have the MF/RV for the EV6 GT-Line AWD 36/10 in zip code 76710?

Thanks!

.00341 MF and 57% residual
$7500 lease cash

jayjay49

May I please have the money factor and residual on a 2023 Kia Wind AWD w/ Technology Package.
Zip..08005

Michaell

jayjay49 said:

May I please have the money factor and residual on a 2023 Kia Wind AWD w/ Technology Package.
Zip..08005

36/15
.00341 MF and 55% residual
$7500 lease cash

Packages and options do not affect the program numbers.

ikillratz

Just checking the new numbers this month.

36 months, 15K miles, GT-Line RWD, 24541.

It looks like Kia removed the $7,500 lease bonus and is only putting a loyalty bonus on a lease online but a dealer said the $7,500 is available.

Michaell

ikillratz said:

Just checking the new numbers this month.

36 months, 15K miles, GT-Line RWD, 24541.

It looks like Kia removed the $7,500 lease bonus and is only putting a loyalty bonus on a lease online but a dealer said the $7,500 is available.

.00261 MF and 55% RV
$7500 lease cash

danieljgc24

Any change to the gt? 36 months. 12k miles in 21043

Michaell

danieljgc24 said:

Any change to the gt? 36 months. 12k miles in 21043

.00248 and 55%
$7500 lease cash

sam_k

Could I please get the MF and residual for the GT-Line AWD for 36 months, 10k miles/year in zip code 11040.

@ChadMan_1 It looks like the money factor came down by the equivalent of almost 2% and and the $7500 lease cash stayed. I think lower sales had something to do with it.

https://insideevs.com/news/674763/us-kia-ev6-sales-june2023/

kyfdx

sam_k said:

Could I please get the MF and residual for the GT-Line AWD for 36 months, 10k miles/year in zip code 11040.

@ChadMan_1 It looks like the money factor came down by the equivalent of almost 2% and and the $7500 lease cash stayed. I think lower sales had something to do with it.

https://insideevs.com/news/674763/us-kia-ev6-sales-june2023/

.00241 MF and 56% residual
$7500 lease cash

ikillratz

Michaell said:

ikillratz said:

Just checking the new numbers this month.

36 months, 15K miles, GT-Line RWD, 24541.

It looks like Kia removed the $7,500 lease bonus and is only putting a loyalty bonus on a lease online but a dealer said the $7,500 is available.

.00261 MF and 55% RV
$7500 lease cash

I just had a dealer say the incentives changed and there is only $3,500 in lease cash, that is a blatant lie, right? Said they even confirmed it with their manager.

sam_k

@kyfdx said:
.00241 MF and 56% residual
$7500 lease cash

Thanks @kyfdx. It looks like the residual percentage went down by 1% since last month on the GT-Line AWD for 36 months, 10k miles/year. 😠 I'm scrolling back and I see 57% residuals in May/June. I guess that's to be expected since the 2024s will be out soon.

Michaell

ikillratz said:

Michaell said:

ikillratz said:

Just checking the new numbers this month.

36 months, 15K miles, GT-Line RWD, 24541.

It looks like Kia removed the $7,500 lease bonus and is only putting a loyalty bonus on a lease online but a dealer said the $7,500 is available.

.00261 MF and 55% RV
$7500 lease cash

I just had a dealer say the incentives changed and there is only $3,500 in lease cash, that is a blatant lie, right? Said they even confirmed it with their manager.

The cash is coming from the bank; there is no reason for the dealer to hold any of it back. In fact, I'm pretty sure they can't.

Could be a simple miscommunication.

ChadMan_1

@sam_k agreed. But I also wanted a specific model (white/RWD/no tech package) and they were few and far between. I got a deal significantly under invoice so I’m happy. Best of luck in getting your deal. This month looks to be the best terms yet.