2023 Kia Sportage EX Money Factor & Residual please help!

SammyCC

Hello forum members. I have been living out of the country for years and now I'm settling down, looking to lease a car. I've been doing a lot of research and I am told to get help here. Can someone please share with me money factor and residual value for 24month/10K? Zip code 90010. Thank you!!

Michaell

SammyCC said:

Hello forum members. I have been living out of the country for years and now I'm settling down, looking to lease a car. I've been doing a lot of research and I am told to get help here. Can someone please share with me money factor and residual value for 24month/10K? Zip code 90010. Thank you!!

FWD or AWD?

SammyCC

FWD

Michaell

SammyCC said:

Hello forum members. I have been living out of the country for years and now I'm settling down, looking to lease a car. I've been doing a lot of research and I am told to get help here. Can someone please share with me money factor and residual value for 24month/10K? Zip code 90010. Thank you!!

SammyCC said:

FWD

.00224 MF and 74% residual

SammyCC

Thank you so much Michaell!!

SammyCC

Someone, please help me evaluate this quote I received today. The math doesn't seem to make sense when I add up.

This is the formula I am using and for zero downpayment, my monthly payment total should be $439 but the lease quote is $643.98. Where are they upcharging me? Are they marking up money factor?

Payment = ((Capitalized Cost - Residual Value) / Number of Months) + ((Capitalized Cost + Residual Value) * Money Factor)

24 months lease quote for Sportage EX w/ $29,835 MSRP

24 months, 10k miles, w/$0 Down @ $643.98 monthly
24 months, 10k miles, w/$2500 Down @ $529.85 monthly
24 month, 10k miles, w/$5000 Down @ $415.70 monthly

Base Residual 74%
Money Factor: 0.00224

Michaell

SammyCC said:

Someone, please help me evaluate this quote I received today. The math doesn't seem to make sense when I add up.

This is the formula I am using and for zero downpayment, my monthly payment total should be $439 but the lease quote is $643.98. Where are they upcharging me? Are they marking up money factor?

Payment = ((Capitalized Cost - Residual Value) / Number of Months) + ((Capitalized Cost + Residual Value) * Money Factor)

24 months lease quote for Sportage EX w/ $29,835 MSRP

24 months, 10k miles, w/$0 Down @ $643.98 monthly
24 months, 10k miles, w/$2500 Down @ $529.85 monthly
24 month, 10k miles, w/$5000 Down @ $415.70 monthly

Base Residual 74%
Money Factor: 0.00224

What is the selling price?
What is the adjusted cap cost?

Without those numbers, we can't give you much feedback on the quote.

With the $0 down quote, all fees and such are being rolled into the lease payment.

SammyCC

So here is the latest quote I received from a different dealer on EX gas for 24 month lease. I think this is horrible deal. I'm better off buying something else for this price. The dealer told me that Sportages are in high demand so the cars are selling before they even get to the dealer. I recently got a 2022 Mercedes GLA 250 lease quote for similar monthly payment with $4000 down.
This is a bad deal right?
MSRP $29,935
Cap cost: $35,610
Down: $3,000
Residual 73%
MF .0022
Monthly payment: $575

Michaell

SammyCC said:

So here is the latest quote I received from a different dealer on EX gas for 24 month lease. I think this is horrible deal. I'm better off buying something else for this price. The dealer told me that Sportages are in high demand so the cars are selling before they even get to the dealer. I recently got a 2022 Mercedes GLA 250 lease quote for similar monthly payment with $4000 down.
This is a bad deal right?
MSRP $29,935
Cap cost: $35,610
Down: $3,000
Residual 73%
MF .0022
Monthly payment: $575

When the cap cost is $6K over the MSRP, it's going to be a bad lease deal.

SammyCC

Thank you. Is it unreasonable to expect discount off of MSRP? I guess this might be possible with less popular models. I'm looking to lease based off of slightly lower than MSRP but this seems impossible with a popular model. Maybe I need to expand my search to other models.

Michaell

SammyCC said:

Thank you. Is it unreasonable to expect discount off of MSRP? I guess this might be possible with less popular models. I'm looking to lease based off of slightly lower than MSRP but this seems impossible with a popular model. Maybe I need to expand my search to other models.

Use the Price Checker link, below, for help with expected pricing.

Being flexible on the model can only help.

SammyCC

Thank you. I'm going to expand my search to Kia Seltos and maybe Hyundai Tucson.

Alemoe

Hello, Looking for the MF & RV for a Kia Sportage 2023 FWD zip 33015...36mo/12k and 48mo/12k. Thank you!!

Michaell

Alemoe said:

Hello, Looking for the MF & RV for a Kia Sportage 2023 FWD zip 33015...36mo/12k and 48mo/12k. Thank you!!

Please repost into our primary 2023 Sportage thread