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Kia Optima Lease Questions

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Comments

  • tschaitschai Member Posts: 14
    Is $329 pretax? That's a great deal if there's nothing due at signing and no trade-in.
  • rraman3110rraman3110 Member Posts: 2
    Monthly payment is exactly $328.90 which includes all my tax and other fees. I put nothing down at all, but did have to pay first month payment along with some other fees. I also got the maintenance package for free. So all i have to do is put gas and pay my monthly payment.
  • hlcastelohlcastelo Member Posts: 45
    Leased an EX with panoramic sunroof for $310 including tax. Down payment was $2K inclusive of first payment. KIA also included maintenance for 3 year term and paid exit costs from former lease with other vehicle make. KIA will negotiate. In South FL
  • powermaxxpowermaxx Member Posts: 6
    I appreciate all the financial terms, but for someone that does not understand math in any way shape or form other than the very basics, it would be great to see:

    Model Leased:
    Option Package Selected:
    Total Actual Cost Paid:
    Monthly Payment:
    Length of Lease:
  • XxHaimBonxXXxHaimBonxX Member Posts: 135
    edited October 2011
    This really isn't a high finance, it's basic math. It will worth it to familiarize yourself with the lease formula. That way, when you are shown a contract, you will know exactly how the numbers came about and won't look silly saying: "but the xxhaimbondxx on Edmunds forum paid $7 less for this car".
  • chazechaze Member Posts: 4
    Optima SX w/ Premium Touring package
    MSRP $30,395
    Negotiated Price (invoice) $28,576
    $500 down
    $1200 from trade in
    $1500 incentives (competitor and lease cash)
    Top tier credit... 7% sales tax
    36 month lease, 15k mi/mo
    What should my monthly be? Thanks!!
  • tnsjconverttnsjconvert Member Posts: 13
    FYI for those looking to lease:

    2012 Optima LX with $21,750 MSRP
    Negotiated Price : $20,516
    Minus Rebates of $1,500 (lease & competitive)
    Final price = $19,016

    12K mile lease
    36 months
    $914 drive off (1st months, fees, $595 acquisition)
    Money Factor .001
    Residual 57%

    $225 base or $244 per month including 8.25% Tax.
  • km38iakm38ia Member Posts: 16
    What's the residual and money factor on the optima sx turbo with full package with a sticker around 31, 600 for a 3 year lease at 12k and 15k.

    Has anybody got the sx fully loaded on a 0 down lease?
    what was your selling price and your monthly payment before tax?

    A dealer with first contact gave me 0 down at 423 a month including tax. I live in los angeles
  • noles2012noles2012 Member Posts: 1
    Can anyone please tell me the November Optima money factor, residual value, and cash incentives for the SX?

    Also, I have an offer to lease an SX for $300/month with $2500 down? Is this a good deal worth taking?
  • corndawgcorndawg Member Posts: 21
    What are the MF, residual, and incentives for an Optima EX turbo for this month?
    Thank you
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello km38ia. Kia Financial Services' November buy rate lease money factor and residual value for a 36 month lease of a 2012 Optima SX with 15,000 miles per year are .00108 and 54%, respectively for consumers who qualify for its top credit tier.

    The residual value for a lease with only 12,000 miles per year would be 1% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi noles2012. Kia Financial Services' November buy rate lease money factor and residual value for a 36-month lease of a 2012 Optima SX with 15,000 miles per year are .00108 and 54%, respectively for consumers who qualify for its top credit tier.

    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
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi corndawg. Kia Financial Services' November buy rate lease money factor and residual value for a 36-month lease of a 2012 Optima EX with 15,000 miles per year are .00130 and 57%, respectively for consumers who qualify for its top credit tier.

    When negotiating your deal on this car, make sure to take advantage of the $1,000 cash incentive that is currently available on it.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • toddbtxtoddbtx Member Posts: 1
    Can anyone please tell me the November Optima money factor, residual value, and cash incentives for the LX?
  • lakerfan24lakerfan24 Member Posts: 24
    I'm not sure how these leases work, but I just saw a commercial today saying you can lease the Optima for $199/month.
    I bought mine outright... ;)
  • XxHaimBonxXXxHaimBonxX Member Posts: 135
    yes, leasing lx model with $3000 due at lease signing plus taxes and fees is a deal of a life time.

    That's why this forum and understanding the math behind the lease calculation is helps a great deal not to fall for these kinds of "deals".
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for toddbtx. Kia Financial Services' November buy rate lease money factor and residual value for a 36-month lease of a 2012 Optima LX with 15,000 miles per year are .00127 and 58%, respectively for consumers who qualify for its top credit tier.

    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
  • lakerhaterlakerhater Member Posts: 1
    Hey Carman,

    Is it true they don't have 36 month leases anymore? Dealers are telling me they are only doing 39 month leases. Also, what is the money factor and residual value of a 2011 hybrid with tech package for 12k miles for 36 months and for 39 months?
  • chalukchaluk Member Posts: 9
    What is the money factor & residual on an EX Lease - 15K miles / 39 months?

    Thanks!
  • kcarnes92kcarnes92 Member Posts: 2
    Hi Car Man,

    Can you please provide the current lease money factor and residual for a lease of a 2012 Optima EX w/ Premium Package for 36 months and 12,000 miles per year?

    Thanks!
  • ddavid1101ddavid1101 Member Posts: 10
    Hi Car_man,

    Do you have the numbers for December buy rate for LX and EX?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi lakerhater. I believe that what you were told is correct. Kia is currently featuring 39-month leases. I don't believe that it will lease vehicles for 36-months right now.

    Kia Financial Services' current buy rate lease money factor and residual value for a 39-month lease of a 2012 Optima Hybrid with 12,000 miles per year are .00031 and 49%, respectively for consumers who qualify for its top credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi chaluk. Kia Financial Services' December buy rate lease money factor and residual value for a 39-month lease of a 2012 Optima EX with 15,000 miles per year are .00130 and 57%, respectively for consumers who qualify for its top credit tier.

    When negotiating your deal on this car make sure to take the $1,000 cash incentive that is currently available on it into account.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kcarnes92. Please see my previous post for this car's lease program. Kia is currently supporting 39-month, not 36-month leases. Its residual value for deals with only 12,000 miles per year would be 1% higher than its 15,000 mile per year residual values.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey ddavid1101. Please see my previous posts for the EX numbers. KFS' December buy rate lease money factor and residual value for a 39-month lease of a 2012 Optima LX with an automatic transmission and 15,000 miles per year are .00127 and 58%.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • XxHaimBonxXXxHaimBonxX Member Posts: 135
    Hi Carman, I would like December #'s for 2012 Optima Hybrid w/ Premium package, 12,000 annual miles. Thanks.
  • XxHaimBonxXXxHaimBonxX Member Posts: 135
    edited December 2011
    So today I went to our Kia dealer that's right around the corner from us with intentions of test driving a hybrid or any Optima for that matter to have an idea what the car was about.

    Test driving it was alright. I noticed what I thought was a slight hesitation when accelerating. However, it now seems that I'm just used to motor revving and didn't think the car was moving when going from 0 to 30. When it finally revved, I was going 40 mph. I obviously told my sales guy I wasn't too impressed with the car, so that he doesn't think I'm easy. I am not going to talk about the features, since it's obvious, the premium has almost everything a human would need or desire. Quality wise is where it takes a hit. The steering and the seats are no way are made out of real leather. I can bet they are plastic because you can feel the difference. If I was to purchase the car, it would make some difference to me, however, leasing it is sort of renting, so I didn't mind.

    I ended up putting a deposit on a 2011 Kia Hybrid w/ Premium package. We agreed on $1100 down and $326 a month, exact numbers I paid for my 09 TSX. They are also buying it out, which has a few hundred dollars of positive equity. Signing the papers on Wednesday, so I will have more concrete numbers then. The dealer is Lazare Kia in Colonie, NY. They have good reviews, so I am hoping for the deal to go through.
  • rjorge3rjorge3 Member Posts: 144
    Car man, I will be starting my negociations for a lease this week, can you please provide me with the December numbers for the above car (money factor-depreciation); 39 month lease (if you also have 36 months for comparision would be great); 15,000 miles per year.

    Thanks in advance
  • d_frinkd_frink Member Posts: 9
    Can you tell me the money factor and residual value for leasing an Optima EX 4 Cylinder with Premium Package on a 39 month lease 12K miles per year?
    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out d_frink. Kia Motors Finance's January buy rate lease money factor and residual value for a 39-month lease of a 2012 Optima EX 4-cylinder with 12,000 miles per year are .00095 and 56%, respectively for consumers who qualify for its top credit tier.

    When negotiating your deal on this car, make sure to take advantage of the $1,000 cash incentive that is currently available on leases of it.

    Car_man
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  • shand32783shand32783 Member Posts: 76
    Can you please also post the residuals and MF on the EX Turbo and SX 12,0000 mile a year leases.

    Thanks Car_Man
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi shand32783. Kia Financial Services' buy rate lease money factor and residual value for a 36-month lease of a 2012 Optima EX Turbo with 12,000 miles per year are .00133 and 57%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of '12 Optima SX are .00090 and 54%.

    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
  • basamxbasamx Member Posts: 17
    Looking for 24/36/39 Lease residuals and money factors for a Kia Optima Hybrid.
  • haggardhaggard Member Posts: 92
    Hello Car_man,

    Could you post the January MF and residual for the Optima LX for 39 months/15K miles per year?

    Thank you in advance.
  • vlilichvlilich Member Posts: 15
    being offered a 36m/12k ex turbo (no tech/premium packages) lease for $329. Seems like a pretty good price. Any thoughts from the forum dwellers?

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Basamx, Kia Financial Services' January buy rate lease money factor and residual value for a 39 month lease of a 2011 Optima Hybrid with 15,000 miles per year are .00065 and 48%, respectively for consumers who qualify for its top credit tier.

    I don't believe that Kia is providing lease support on any other terms right now.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings haggard. Kia Financial Services' January buy rate lease money factor and residual value for a 39-month lease of a 2012 Optima LX with an automatic transmission and 15,000 miles per year are .00092 and 56%.

    When negotiating your deal on this car, make sure to take advantage of the $1,000 cash incentive that Kia is currently providing on leases of it.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • gauger01gauger01 Member Posts: 13
    Is there any down payment in this deal?
  • zobrist18zobrist18 Member Posts: 5
    256 39 months @15k with $645 total due for EX price includes 6.25% ma sales tax
  • haggardhaggard Member Posts: 92
    edited January 2012
    Thank you very much, Car_man! Here is the deal I will have to drive 100 miles to get:

    2012 Optima LX, AT, 15K miles, carpeted mats, cargo mat, cargo net, first payment due at delivery.

    MSRP: 21,905
    Negotiated: 18,205 (includes $1K lease cash, $1K loyalty)
    Fees: 974 (Acq Fee, Doc, Sec. Dep)
    Adj. Cap Cost: 19,179
    Residual (56%): 12,267
    Money Factor: .00092
    Term (months): 39
    Sales Tax % (PA): 9
    Monthly Payment: 224.71 (206.16 base + 18.55 tax)

    Depreciation: 6,912
    Finance Charge: 1,128
    Total Sales Tax: 724
    Total of Payments: 8,764
    Total Lease Cost: 8,764

    I am pleased with the numbers, as this is approximately $50/month less than I have been offered within 50 miles. I would welcome your, or anyone else's, opinion.

    Thanks, again.
  • bullz_i1981bullz_i1981 Member Posts: 2
    Hi
    I got this offer for a 2012 optima sx with premium and Nav:

    Kia's incentivised leases are 39 months.
    $31,745.00 MSRP
    $29,999.00 Selling price
    $1,000.00 Lease cash (rebate)
    0.00090 Money factor
    54% residual at 12K year

    Is it a good deal? I live in San Diego CA
  • ejg131ejg131 Member Posts: 1
    I acknowledge the redundancy, but could you provide the most current money factor and residual for a 2012 Kia Optima EX with both Premium and Tech packages? Hoping to strike a deal tomorrow....thanks.
  • wolfpack99wolfpack99 Member Posts: 8
    edited January 2012
    Hey guys, this is a repost from the Buying Experiences thread since I put it in the wrong place to start with. Anyway, can you please analyze this deal for me?

    EX with Premium Package and a few add-ons (wheel locks, cargo net and rear bumper film)
    MSRP: $27,070
    Selling Price: $24850
    Additional Mileage: $1,950
    Lease Incentive: deduct $1,000
    MF: .00095
    Residual: 55%
    NC Tax: 3%
    Doc Fee: $585.50
    Tag Fee: $89
    Lease Fee: $595
    Monthly Lease: $368

    What do you guys think? I'm hoping to get them down a little more to get my payment down to $350ish.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ejg131. Kia Financial Services' January buy rate lease money factor and residual value for a 36-month lease of a 2012 Optima EX with 15,000 miles per year are .00095 and 55%, respectively for consumers who qualify for its top credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • turbo01fireturbo01fire Member Posts: 4
    MSRP: $30,200
    Selling price: $28,100
    Competitive incentive: $1,000
    Money down: $0
    MF 0.0009
    Residual 54%
    39mo/39kmi

    We had haggled for a bit to put the payment at $340/mo so I walked away asking them to hit $325 or no deal, I don't know what they changed in the numbers but they did call me back saying they could hit $325/mo with $325 (first mo pmt) down.

    Seems like a pretty good deal but I am probably going to hold out for the identical car in the Corsa Blue.
  • wolfpack99wolfpack99 Member Posts: 8
    Does anyone know what the February MF, residual and incentives are for EX non-turbo with 15,000 miles? I'm still trying to work a deal and am curious to see how the numbers have changed.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi wolfpack99. Kia's February buy rate lease money factor and residual value for a 36-month lease of a 2012 Optima EX with 15,000 miles per year are .00095 and 55%, respectively for consumers who qualify for its top credit tier.

    There's a $1,000 cash incentive available on leases of this car.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • wolfpack99wolfpack99 Member Posts: 8
    Thanks Car_man! Interestingly enough I had a conversion with a dealer just tonight and they told me the money factor on an EX non turbo was .00135 and still 55% residual. Are they "marking up" the money factor on me?
  • shand32783shand32783 Member Posts: 76
    Could you also please post the numbers for a 12,000 year lease (I guess Kia is 39 month) numbers on the EX Turbo & SX model. I appreciate the help. Hopefully it's not bad compared to last months. And I am aware of the extra $1000 incentive.

    Thanks,
    Shane
  • anguillaanguilla Member Posts: 56
    Please let me know if the following appears to be a good deal being offered in the NY/NJ area for a February 2012 lease.

    Here's the Deal for an EX with Premium and technology packages:
    $0 down
    15K/Year
    $314/month
    .00095 Money Factor
    55% Residual percentage = $15,675
    $1000 competitive incentive
    7% tax
    doc fee $249
    acquisition fee $595
    motor vehicle fee $309
    window etch $199
    online registration $5.70

    I can also do a 12K lease at $307/month where the residual is 56% at $15,960.

    Are the above good deals? The fees seem a bit crazy? Which of these can be negotiated?

    Also, are there typically incentives other than the $1000 competitive discount that will be made for President's Weekend?

    The dealer is saying that I'm getting this at $1000 below factory invoice. What is your calculation?

    Thanks for your help.
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