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Hi, Do you have the money factor and residual for 2013 Sorento EX 4 cyl w/ premium plus package for 36 month/15,000 miles. Tier 1 credit. Also are there current incentives? Not sure if if matters but this is Western NY
Thanks
In your state, New York, I believe that there is currently a $1,500 cash incentive on leases of this vehicle.
Car_man
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Anyway, at this point, I am not sure if I should do business with this dealer, as I think maybe they are hoping to disclose one set of terms and deliver another. Second, I would like to know, for October delivery, what are the correct residual and money factor for a 2013 Sorento SXV6. Thanks!
I'm trying to find out what I should be paying for the base model of the 2013 Kia Sorento EX (I would like the bumpers and homelink rear view, but that's another issue...). I'm planning to lease with 15,000 miles per year, and I'm in the 91601 zip code (California). I'm pregnant, so the idea of going into a dealership right now is... yikes! I'm going to try to negotiate online as far as I can go, so please any advice would be great here as well. I've had trouble nailing down dealers over email so far.
Also, is it safer to lease through an outside lender or through the dealership? I heard on these forums from one guy that they give you a lower OTD price, but trade for a worse leasing deal to get you to pay more in the end... thanks!
Kia Financial Services' October buy rate lease money factor and residual value for a 36-month lease of a 2013 Sorento LX V6 with 15,000 miles per year are .00132 and 60% for consumers who qualify for its top credit tier. The numbers for the SX 4WD are .00133 and 58%.
Car_man
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Look up the dealer invoice price of the exact model that you want over in the New Vehicle Pricing section of Edmunds.com and offer a couple hundred dollars over that minus the $1,000 cash incentive that is currently available on leases of this model.
Once you have this vehicle's MSRP and approximate selling price either let me know and I can work up a payment on it for you, or you can calculate one on your own using the formula that is outlined in the following article Calculate Your Own Lease Payment, a money factor of .00117 and a residual value of 57% (for 36 months with 15,000 miles per year and top credit tier).
You're definitely better off dealing directly with the dealership than involving a third party that just has to profit from your deal as well.
Car_man
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Chris
My in-laws are looking to lease a new Sorento after totalling their old one (only 2 months old). But they're having a hard time locating what they want....dealerships in our area can't seem to find any 2013 LX with all wheel drive and the convenience pkg and 3rd row seat within a 300 mile radius. Is this spec a bit of a unicorn? I recall when I was shopping last year, we were told finding the 3rd row in an LX was virtually impossible.
I had a very tough time getting dealers to talk straight with me on email. I did this before with my BMW lease about 5 years ago, no problem, but this time around they have been incredibly cagey. Getting an OTD purchase price was nearly impossible and they kept leaving out information and not getting back to me with either the true OTD prices or alternately the included specs of what they were quoting.
I got a little desperate and called Authority Auto. They can get me into a Kia Sorento EX base model for a purchase price of $27,150 (this does not include any rebates). Money factor was .00117 like you said, but he insisted the bank gave him a residual of 55% for 15,000 miles per year. Could you confirm? Also, he told me this price was $100 over the dealer's invoice. I grilled him about all the details, but ultimately, even with a rebate - which he mentioned as $1500 I thought, not $1000, but could be wrong - was 378.13 per month.
This is way over what I had hoped - I was trying to keep this car under $300. I mentioned I had gotten a BMW way back for $34000 purchase price and leased at $404 with nothing down, but of course couldn't remember money factor and residual, so this was a disappointment. He said BMW has better leases and Kia just doesn't incentivize enough. Is this true? Is this deal right?
Am wondering if I should regret going with Authority Auto and not trying to stay the course on email, but being pregnant, I really felt like I lacked the time and leverage to go into the dealer on my own to negotiate. Seems like a nice guy but I'm new to working with a broker.
It seems you have a lot of knowledge on this topic and I wanted to see if I could get your input - would greatly appreciate it! I, too, am a pregnant mom working this deal and it has been challenging, but I think I'm almost there.
I am thinking about leasing for the first time and am wanting a 2013 Kia Sorento front wheel drive LX. Leasing is new to me, so it has been a learning curve. Here are the details I have been negotiating - meeting with the dealer again in the morning:
-12,000 miles, 36 month, base model (no third seat)
-Down payment of $2999 plus tax, tags and fees ($1,363.50) minus a $2,500 trade = $4,362.50
-Monthly payment of $174 (includes vehicle tax)
-Total cost of lease - $8,126.50
-Money factor of 0.0010
-$1,500 in customer cash incentives were factored in for cap cost reduction to get to the monthly payment of $174
Is this a good deal? Anything I could/should be pushing for or asking about?
The only changes I am considering are adding the 3rd row seat (am told that adds about $30/month to lease) and/or raising to the 15,000 mile cap (also told this adds another $30/month). Really having a hard time figuring out if I need either of those - particularly the mileage cap. Concerned that 12K may not be enough, but not sure.
Many thanks for your help.
Thank you!
Car_man
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BMWs usually do lease better than Kias, but the current lease program for the Sorento isn't terrible.
I personally would never use an auto broker, to me they merely add another party that has to profit off of my deal, many people do and are happy with them.
Something seems off with the pricing here. This isn't truly a base Sorento. It must have some options. The base Sorento EX has an MSRP of $27,750 and a dealer invoice price of $26,345. $100 over the invoice price would be $26,445 before incentives and $25,445 after the deduction of the $1,000 cash incentives on leases.
Car_man
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I see that you are considering using equity from your trade as a down payment on your new lease. There's nothing wrong with trading in an old vehicle when leasing a new one, however you would be much better off having the dealer cut you a check for any equity that you have rather than using the proceeds from it as a capitalized cost reduction. I always advise consumers to put as little money down as possible when leasing. Consumers who make large down payments on leased vehicles risk losing part or all of the money that they laid out if their vehicle is totaled in an accident or stolen and never recovered.
Car_man
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Car_man
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I'm looking for the lease numbers for 12K leases of the EX and SX 2013 Sorrento models. Also any incentives you know about would be appreciated as well.
Thanks!
I can tell you for now that all 2013 Sorento models have a $1,500 cash incentive available on leases of them.
Car_man
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The numbers for an otherwise identical lease of an SX V6 AWD are .00129 and 55%.
When you lease wither of these vehicles, make sure to take advantage of the $1,500 cash incentive that is currently available on leases of them.
Car_man
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12k miles /yr and 39 months.
Thanks a lot.
When negotiating your deal on this vehicle, make sure to take advantage of the $1,500 cash incentive that is currently available on this model.
Car_man
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Never paid disposition fee before on leases but I see this appearing more and more; any negotiating leverage on that item?
Also, anybody bought this car recently? for how much?
Also, anybody any experience buying from HUGE Cape Cora, Floridal Kia dealership that I will not name.
The numbers for an otherwise identical lease of a '14 Sorento Limited AWD are .00133 and 56%.
Kia is providing a $1,000 cash incentive on leases of this vehicle right now.
I'm not sure if Kia allows multiple security deposits. I've never heard of anyone making them on a Kia, but I suppose that it's possible.
Car_man
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Could you tell me the residual value, and money factor for a 24 month lease 12,000 miles annually for a 2014 Kia Sorento LX AWD V6 with tow package. Dealership is in southwest Virginia.
Also, what is the invoice price and are there any incentives this month?
Any help would be greatly appreciated.
My first time on this board and have read many of your replies to numerous responses from the past years, it helped in purchasing my car. Just noticed there is not much action in the sorento forum so I decided to ask my question.
I am deciding to purchase the following:
2014 Kia Sorento Limited - with options the msrp is $41,000
I got quoted $36,600 for final price.
$1011 drive off
Residual 57%
15,000 a year - 36 months
Monthly price - $497 including tax (California 9% tax ouch)
Wanted to know if that is a good deal? this includes the $2000 worth of incentives
Car_man
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I'm looking to lease a 2014 Sorrento SX for 39 months @ 10K miles/year. Would you be able to provide the lease factor and residual value for this?
Thanks!
When negotiating your lease on this vehicle, make sure to take advantage of the $1,500 cash incentive that is currently available on leases of it.
Car_man
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Looks like $1500 dealer lease cash available on this model.
Those numbers may not be valid for the New York Tri-State area...
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2014 EX V6 (no other options)
36mo
12k miles/yr
southern New Jersey
I also have two other questions:
Is there a lease to own program?
and what would be a good price if i was to buy outright?
thanks for all your help.
regards,
kyfdx
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I was hoping you could check an offer that was made to me on a 2014 Kia Sorrento EX. I was able to obtain the worksheet from the dealership and was given the following information below. Basically, they have given me an offer of $360/month (Taxes included) for 36 months with $1500 down. I cannot seem to duplicate these numbers even with the worksheet. I was hoping you could help me by double checking this for me as I might be missing something here. What I'm not positive on with the worksheet is if the rebate is taken from the MSRP or if it is taken from the Price ($28,342.62). Doing it either way based on these numbers, I did not arrive at the same lease amount quoted. I calculated either $325 or $400 based on those two scenarios. Any help you could give me would be much appreciated. Thanks in advance.
State: Georgia
MSRP: $30,995
Price: $28,342.62
Term: 36 months
Money Factor: .00159
Residual (57%): 17,667.15
Down Payment: $1500
Rebate: $2500
Govt Fees: $139.75
Taxes: $1776.77
Doc Fee: $798.50
But, there are $2700 in fees and taxes.... Applying the rebate to those, plus $200 of your downpayment, leaves $1300 as a CAP cost reduction... Assuming the rest of your numbers are accurate, I get a payment of around $331/mo...
So.. when you go in to sign the papers, you are looking for about a $1000 difference.. Different MSRP, different selling price, extra charges for options or service plans... Payment life insurance, etc, etc, etc...
regards,
kyfdx
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