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Kia Optima Lease Questions
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Comments
msrp 27500; sell 25500 (includes dealer fees)
costs added to lease: 795 (595 acq fee, 200 tint)
credits 1850 (lease bonus 1000, conquest bonus 1000; adjusted for tax)
56% residual is set by KMF (Kia Motor Finance)
money factor 0.00105 is also set by KMF
39 month term; 7% state tax rate on the lease payment only
Plugged all this into that lease calc and came up with the $293 payment
All you need to add is the Arizona DMV fees (estimated 300 in the example; are they really that high?)
take some time to digest all that...GL
i'll be back in a few hours
I just made a deal on a lease, haven't signed anything yet. It is an Optima EX with Premium package, my money down was my trade of which I received an equity of $1500. (after payoff). My monthly rate at 12000 miles/yr and 36 months = $304.
Is this a good deal?
I think your payment is too high considering you are putting down 1500
If you haven't signed anything, then the deal is not done...
Thanks
thanks
Kia is currently providing a $1,000 cash incentive on leases of this car.
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
Thanks
Can you find out the March money factor for 2012 Optima Hybrid on a 36-month lease? I believe the residual is 55% for 12k / year, please check this also.
Thanks
In most areas Kia is providing a $1,000 cash incentive on leases of this car.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Kia is providing a $1,500 cash incentive on leases of this car. Make sure to take this cash into account when negotiating your vehicle's capitalized cost.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
By the way this is a New York KIA Dealer.
Msrp 35,645. Sale price 32,279- trade in 3,189 -rebates 3,000 -term 36 months -residual 56 percent
Money factor .00101 -Acquisition fee 595 -and registration , inspection deal fee was 277.45 . Payed taxes upfront don't know if that was a wise idea. Any thoughts on this deal.
I'm not sure if KFS offers 10,000 mile per year leases, but if it does its residual value for one would likely be 1% higher.
There is a $1,500 cash incentive on leases of this car right now. Make sure to take it into account during your negotiations.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Kia is providing a $1,500 cash incentive on leases of this car through KFS.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
We did our 2nd consecutive Optima EX lease in January. For the first couple of months, just as we could on the previous lease, we were able to get a lease buyout through our online account access with KMFC. Now, we apparently cannot do that. KMFC says some state laws (PA, NY and a few others) allow that only a dealer can give us a buyout quote. Never heard of such a thing and it sounds absurd on its face, but KMFC will not give a buyout quote.
FWIW - I've found KMFC to be the worst part of leasing a KIA, they were absolutely horrible to deal with when our first leased car was totaled. Everyone tells you something different, lots of attitude, and poor online experience.
Carman or kyfdx, have you ever heard of "dealer only" states where the law prevents the leasing company from providing a buyout quote?
Can you let me know your thoughts on this offer I received yesterday.
2013 KIA OPTIMA Ex
Equipped with:
Titanium Gray Exterior.
Light Gray leather interior with heated and ventilated front seats.
Heated rear seats.
Panoramic vista sunroof.
Navigation System.
Bluetooth technology.
Infinity Audio System.
Push start ignition.
keyless entry.
The MSRP for this vehicle is $28,800 my selling price is $26,950 before instant rebates. The lease program for this model is based on a 59% residual value with a .153 money factor for the top tiers credit.
your total Cap cost is $28,409.06 this is after acquisition fee $595 (bank fee) and taxes 864.06 (7% Nj tax).
On 36 month lease with 12000 miles per year:
Sign & Drive ($0.00 down) $358.10
$500 due at signing $342.08
$1000 due at signing $327.79
Prices including 1st month payment, taxes, DMV fees and Gap coverage, Must qualify for top tiers credit approval.
Can you let me know your thoughts on this offer I received yesterday.
2013 KIA OPTIMA Ex
Equipped with:
Titanium Gray Exterior.
Light Gray leather interior with heated and ventilated front seats.
Heated rear seats.
Panoramic vista sunroof.
Navigation System.
Bluetooth technology.
Infinity Audio System.
Push start ignition.
keyless entry.
The MSRP for this vehicle is $28,800 my selling price is $26,950 before instant rebates. The lease program for this model is based on a 59% residual value with a .153 money factor for the top tiers credit.
your total Cap cost is $28,409.06 this is after acquisition fee $595 (bank fee) and taxes 864.06 (7% Nj tax).
On 36 month lease with 12000 miles per year:
Sign & Drive ($0.00 down) $358.10
$500 due at signing $342.08
$1000 due at signing $327.79
Prices including 1st month payment, taxes, DMV fees and Gap coverage, Must qualify for top tiers credit approval.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Can you give me the July MF and residual for both the Optima SX/Tech Pkg/Prem Touring Pkg and the Optima SX Limited. 15,000 miles/yr and 36 mo. Top tier credit. Thanks.
You haven't been around in a while but I really need your help. I'm looking to lease an Optima in the next few weeks and cant find the lease residual and MF anywhere else. You are my only hope of not getting ripped off. Can you give me the July MF and residual for both the Optima SX/Tech Pkg/Prem Touring Pkg and the Optima SX Limited. 15,000 miles/yr and 36 mo. Top tier credit. Thanks.
I'm trying to get into at least an EX model with premium package for low to mid $200s
I really have my heart set on the Optima EX model with at least the Premium Package and 12K miles/yr. Is this possible? I'm in the Yonkers, NY area. The last offer I was give seemed crazy. Any referrals? What would be a good lease deal based $1000 or $2000 down in NY area?
It's pretty funny and sad how the dealership tried to play me. It seems like they did the good cop/bad cop routine. The dealership i'm referring to is in the Yonkers, NY area.
Can you give me the August MF and residual for both the Optima SX w/ Tech Pkg/Prem Touring Pkg and the Optima SX Limited. 15,000 miles/yr and 36 mo. Top tier credit. Thanks.
I don't have this data but did lease an Optima in January. Great car! Your dealer should be able to provide you with these numbers and then you can work a lease from there. If you are in the Philadelphia area, I'd highly recommend my dealer.
TheRas900
macdad
I used the sign & drive zero down number.
Here's the math calculation: $358 x 35 payments = $12,530.
Here's the question you must ask yourself: Would you pay $12, 530 to drive a Kia 36,000 miles (max)? Then have to give it back, in nearly spotless condition? And if you go over by just 1,000 miles, you have to cough up another $200?
Any scrapes, scuffs, stains, cigarette burns, whatever, will cost you extra when you bring it back (or you have to pay to fix it before you bring it in). If you are down on your luck three years from now, and don't have the $16,000 in cash to buy it out, your car is gone. And even worse, if you turn it back in an are over on the miles or there is some sort of UN-repaired damage and you are broke, the collectors will be all over you. And if you are down on your luck, nobody will finance you, either. Insurance on any new car is expensive those first three years, so don't forget to add that on.
Put another way, that will be the most expensive 36,000 miles you ever drove. And if life is sort of rocky three years from now, you will have no car to drive on top of all that. If you are money challenged (why else would you be considering this "deal"?), buy yourself a boring, low-mileage Buick LeSabre for $6,000, and drive it until it drops. You can finance it for three years at your local bank and have payments about half of what the Kia lease is. The cars are boring, but they run forever, are easy to maintain, and are cheap to insure. If life is good in three years, you can sell the LeSabre for $3,000 and buy something else that you like better and can afford; if life is not so good, you can keep driving your PAID FOR LeSabre.
I haven't had a car payment of any type in over 15 years. I buy good used cars/trucks that are five to ten years old, and drive them tell their socks fall off. (I bet you didn't know that cars had socks? They are under the CV boots.) As a rule of thumb, a five year old car with 60,000 miles at full retail price is about half what it cost new. Sometimes you can find a better deal.
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Yet, for a person who is short on cash, it is a FAR better option in the long term. Say what you will, but the LeSabre is roomy and reliable, and even turns in great gas mileage for a full-size V-6 car. If you find one driven by the proverbial little old lady, with low miles that go with little old lady cars, you can get yourself a great value. I saw an ad for a 2004 Lesabre, leather interior, factory chrome wheels, and only 35,000 miles -- $9,000 (and it could be had for $7,500). That $26,000 KIA will lose $7,500 in the first year.
I work in the financial business (insurance) and I see people all the time who are financially jammed up because of car payment situations. These folks stretched themselves to the limit, then the first hiccup that happens they are in a mess. Sometimes they buy the new car, and get a shock when they find out what the insurance will cost when they call the next day to add it onto their policy. It isn't unusual for a young (under 25) driver to have well over a $200/month car insurance premium -- a combination effect of age, having full coverage, and surcharges for a brand new car.