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Kia Optima Lease Questions
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Comments
I am looking at the LX with the new convenience PLUS pkg that includes a rear backup camera. These sedans today are so high in the rear that you can't see anything so the camera seems like a smart safety tool.
Good Luck with your deal!
Any chance I could get the figures for a 39-month lease of a 2013 Kia Optima SX-L with 15,000 miles per year?
Thanks!
A 39 month lease at 15K/yr, gives you 9750 miles for that same amount..
So, your break even point is anything over 12,855 mi/yr.....
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Can you guys post Kia Financial Services' January buy rate lease money factor and residual value for 1 36/39 month lease of a 2013 Kia Optima SX-L with 12,000 miles and 15,000 miles with top credit tier?
Thank you very much!!!
Can you tell me more about your break down? is $325 before or after tax? What is the Selling Price, Car Residual Value, and Money Factor?
Thanks!
Thoughts? I'm in VA our sales and use tax is 3%.
See what your payment is in that scenario. If you still want to trade, remember that the dealer is not going to give you retail for the trade if he is selling (leasing) you the new car at invoice, or even slightly higher. His best offer on selling price will vary from what you see here, based on the competition, inventory, etc. I never get the best price I find here, because there is little competition and inventory in my area.
I personally don't see the benefit of trading a car with significant equity. Make your best cash deal and sell the trade if you can, imho.
Curious as to why you aren't just finishing the lease of the KOH? I am in a similar situation with a 2011 Sonata lease and although i have some positive equity (value - payoff), I am not ready to do an early sale/turn-in. I have been surprised that every dealer i tell my story to says they can get me more money for my Sonata now rather than waiting 2-3 months. they are hungry.
As far as your lease, I always shoot for less than $11 per $1000 of msrp as a guide for a standard 36mo/12k lease. The lease calculators are also good if you are math inclined (most people are not, sadly).
This is one place i noticed a difference with the offer I have, the residuals and money factors the dealer used don't match what I've seen here, but they did vary slightly between the two SXs he showed me (one a base model and one with the premium package)
Lease data does vary by model, mileage and can change monthly. It is very difficult to find out the info (intentionally). Sites like this are one of a few places to get the data. Unfortunately, the mods seem to respond more quickly to forums like the Accord and camry than they do to the Sonata/Optima.
I understand completely. Most other hybrids are no match for the TCH when it comes to driveability. You may want to consider an Optima LX with the NEW Convenience PLUS package ($1100). It adds the Microsoft UVO audio system as well as a rear backup camera. MSRP is only 23.3k. You should qualify for the owners loyalty bonus ($1000) since you currently own a Kia. The new Mazda 6 is also out and generating quite a bit of buzz. I'm hoping that it causes the other guys to beef up their incentives soon to compete. good luck.
Kia is currently providing a $1,000 cash incentive on leases of this car.
Car_man
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If you were to lease with only 12,000 miles per year, this car's residual values would be 2% higher.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
I had inquired for my bro, who just leased the car a few days ago. And, happily, your figures coincide with his deal's.
ALSO! Wanted to letcha know, the $1,000 incentive is for the LX and EX.
The SX gets a $2,000 incentive.
His previous car also picked up a $1,000 competitive car thingy incentive.
Thanks again!
MSRP: 24,734.00
Selling Price Before Incentives: 23,191.82
Payment: $332.81/month.
The payment is much higher than you might expect because we elected to keep $2,000 in rebates, (loyalty and lease cash), using only the $500 auto show rebate in the transaction.
As I've said in previous posts, our '12 Optima EX was totaled. Our insurance paid KMFC full market value for the car, which was over $2K more than payoff. Legally, KMFC isn't required to return the difference, and they play hardball, folks (Lexus and some other manufacturers acknowledge that they are also entitled to keep payment in excess of the payoff amount, but don't do it as a matter of customer relations policy).
So, this time, instead of using the incentives to "prepay rent" as KMFC put it, we will just pay about that same amount over the term of the lease, at the low lease rate. Should the car get wrecked - and don't think it can't happen to you - we may be upside down after primary insurance, but KMFC provides gap for that. They played the "it's our car" card when it worked in their favor, it can be their car in the negative equity situation if it happens again.
Will post on the "buying experience" aspect when a "we owe" is fulfilled and the rebate money is the bank. Hopefully, we will have a great story to tell...
I just got a 2013 Kia Optima SXL in SoCal area 01/26/2013. I got qoutes for more than 10 dealers around the area and they were very aggressive!! I believe I did good on the deal. All communications via email and total spent less than 3 hours at the dealer.
MSRP: $35,654
options Included:
- Rear Bumper Applique
- Cargo Mat
- Cargo Net
- Cargo Tray
- iPod Cable
- Wheel Locks
FREE: All-Season Floor mats
Gross Cap Cost: $32,292 before $3,000 incentive
Selling Price: $29,292
Capitalized Cost Reduction: $3,000 ($2000 competitive bonus + $1000 Kia Financial incentive on leases)
Money Factor: 0.00090
The Residual%: 55%
Residual Value: $19,609.70
Term: 39 month 12,000 miles lease $0.20/miles additional
Monthly Payment: $308 + Tax
Due At Signing: $0 + DMV Title/Tax/License + Upfront tax (on $3,000 cash back) + Docuemnt processing charge + First month payment
Acquisition fee: $0
Registration Fees: $310
CA Tire Fees: $8.75
Electronic Vehicle Registration/Transfer Charge: $29
Document Processing Charge: $80
Upfront Taxes (on $3,000 cash back): $277.20
CA Tax Rate: 9%
so sad..... all to Uncle Sam!!
I put your numbers into a lease calculator and got 308.06 using 0% tax rate. That included the mandatory $595 acquisition fee from KMF.
Your web site lists two different lease cash bonuses for the Optima. One is 1000 and the other is 1500. Which is correct?
Could you post the Kia Financial Services February lease money factor and residual value for a 36 month lease of a 2013 Kia Optima EX with 12,000 miles? If it matters... the only option I would be looking for is the Premium Package.
Thanks!
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Could you give me the money factor and residual % for the 2013 Optima SX on a 36 month lease with 12000 miles/year?
Thank you.
could you give me the money factor and residual for the 2013 kia optima hybrid on 36 month lease with 10 or 12k/year ?
Thanks
2500 down
39 months at 247.00
13,753 residual value
What do you think?
Have you checked the current incentives for the Optima?
what do you drive now?
Lastly, you should NOT make big down payments on ANY lease. Maximum o-t-d should be less than $500 in every case
http://www.edmunds.com/kia/optima/2013/car-incentives.html?style=200425944&irr_s- ection=customer_rebates_irr
5900.00 in discounts
selling price- 23,543
2089.00 sales tax
1000.00 - doc, registration, etc fees
26,635.00 total price
waiting on money factor and %, will get back to you-thanks
msrp and retail value are NOT the same; should be closer to 28k msrp
1000 for fees is ridiculous
is this a kia lease?
I am in Arizona
money factor is .00105, residual 56%
msrp?
i meant is this a Kia motor finance lease vs a bank lease?
doc fee is completely negotiable in AZ
still seems very high; if you get me the msrp, i can show you
2013 NEW KIA OPTIMA 4D SEDAN EX AUTO (53242)
VIN NUMBER
COLOR
MILES
0
ANNUAL MILES
12000 STOCK NO
Lease Options
Term $1000.00 $1500.00 $2000.00 $2500.00
39 $289.12 $274.73 $261.01 $247.30
Total Retail Value: $29445.00
Discount: $-4402.00
Factory Rebate: $-1500.00
Selling Price: $23543.00
Trade Allowance: $0.00
Trade Difference: $23543.00
Sales Tax: $2089.30
Dealer Doc. Fee: $399.00
Registration Fee (est.): $399.80
Other Fees: $5.00
Dealer Defined Fees: $199.00
Subtotal: $26635.10
Pay-Off of Trade: $0.00
Service Contract: $0.00
Total Cash Due: $26635.10
Have you signed this deal yet?
Again, an EX with Premium package, tint and spare tire/kit
39 months at 247.50
2500 down
residual = 56% MSRP is 27,500
spare tire kit is 150-200
tint is ??? - they are probably not including tint in the residual value; means you are paying for that outright
27500 * 0.56 = 15400
earlier you posted: "13,753 residual value"
sorry but this is not a good deal
So you put 2k down and are paying 259.00 for 36 months
What is your residual- what would you owe at the end of the lease if you wanted to purchase it?
I am leasing same car, but for 247.50 for 39 months and residual is 15,400
why are they charging you tax on the entire amount instead of only the lease payment as is proper in AZ?
how much is the tint and how are you paying for it?
why is there BOTH a doc fee of 399 (BS) and a dealer fee of 199?
you MAY qualify for BOTH the conquest bonus of 1000 plus there is another 1000 of lease bonus cash; they only gave you 1500 of it
should i go on?
dealers TRY to make leasing complicated but it is just math
use this easy calculator:
http://www.leaseguide.com/calc.htm
If you can't get the numbers to work out close to what they gave you, then something is wrong.
This guy francko said:
"Did not qualify for any of the rebates (loyalty or competitive)"
You qualify for $2000 (minus tax) of current incentives. that's ~$47 per month on a 39 month lease. Adjust his deal accordingly if you are trying to compare...
from the forum moderator:
"Your friend was right about not putting money down on a lease. I always advise consumers not to make any sort of down payment on leased vehicles. Consumers who put money down risk losing part or all of that money if their vehicle is totaled in an accident or stolen and never recovered. "
So, we have an EX with Premium package at 27,500 MRP and Arizona has a 7% tax
What should I come back with in your opinion?
Add in the state minimum reg. fees and that is your out-the-door amount.
EXAMPLE: If Arizona reg fees are $300. You would offer $593 now + 38 additional payments of $293
Thanks