2016 Kia Sorento Lease Questions

cellice · February 2016

Interested in lease rates for 2016 Kia Sorento SX v6 and SXL v6 AWD. I'm interested in both 24 and 36 month at 10K

I appreciate help!

Michaell · February 2016

cellice said:

Interested in lease rates for 2016 Kia Sorento SX v6 and SXL v6 AWD. I'm interested in both 24 and 36 month at 10K I appreciate help!

What state is this for? Kia numbers are regional.

cellice · February 2016

Michaell said:

cellice said:

Interested in lease rates for 2016 Kia Sorento SX v6 and SXL v6 AWD. I'm interested in both 24 and 36 month at 10K

I appreciate help!

What state is this for? Kia numbers are regional.

MD

mcmayber1 · February 2016

Looking for info for Charlotte, NC. 24 month 12k and 15k miles. Two different options on the Kia website, what should I negotiate? I want to put zero down, I have 800+ credit:

2016 Sorento (Model #73422)
$1,999 due at lease signing including
$269 first monthly payment,
$1,135 capitalized cost reduction,
$595 acquisition fee, plus tax, title, license and registration fees, dealer conveyance fee, processing fee or optional service fee and any emission testing charge.
No security deposit required.
Offer shown total lease payments are $8,186.
residual value of $18,492.80.
12,000 miles/year
$400 termination fee
MSRP $28,895,
includes freight, excludes taxes, title, license, additional options and retailer charges

2016 Sorento (Model #73222)
1,999 due at lease signing including
$252 first monthly payment,
$1,152 capitalized cost reduction,
$595 acquisition fee, plus tax, title, license and registration fees, dealer conveyance fee, processing fee or optional service fee and any emission testing charge.
No security deposit required.
Offer shown total lease payments are $7,795.
residual value of $16,798.90.
12,000 miles/yea
$400 termination fee.
MSRP $27,095
includes freight, excludes taxes, title, license, additional options and retailer charges).

Michaell · February 2016

mcmayber1 said:
Looking for info for Charlotte, NC. 24 month 12k and 15k miles. Two different options on the Kia website, what should I negotiate? I want to put zero down, I have 800+ credit:

2016 Sorento (Model #73422)
$1,999 due at lease signing including
$269 first monthly payment,
$1,135 capitalized cost reduction,
$595 acquisition fee, plus tax, title, license and registration fees, dealer conveyance fee, processing fee or optional service fee and any emission testing charge.
No security deposit required.
Offer shown total lease payments are $8,186.
residual value of $18,492.80.
12,000 miles/year
$400 termination fee
MSRP $28,895,
includes freight, excludes taxes, title, license, additional options and retailer charges

2016 Sorento (Model #73222)
1,999 due at lease signing including
$252 first monthly payment,
$1,152 capitalized cost reduction,
$595 acquisition fee, plus tax, title, license and registration fees, dealer conveyance fee, processing fee or optional service fee and any emission testing charge.
No security deposit required.
Offer shown total lease payments are $7,795.
residual value of $16,798.90.
12,000 miles/yea
$400 termination fee.
MSRP $27,095
includes freight, excludes taxes, title, license, additional options and retailer charges).

Those aren't offers; they are promotions. You should be able to do better with good negotiation.

Also, we don't recommend making a cap cost reduction on a lease - if the car is stolen or totaled, you lose the money.

mcmayber1 · February 2016

I asked the dealer for a quote for a 24 months, zero down, 15k miles on the base model Kia Sorento. He replied with $359.99 a month. Can you tell me the rates for a 15k mile, 24 month base model 2016 Sorento (Model #73422)? I am waiting on his reply for the numbers he used for this quote.

Michaell · February 2016

mcmayber1 said:
I asked the dealer for a quote for a 24 months, zero down, 15k miles on the base model Kia Sorento. He replied with $359.99 a month. Can you tell me the rates for a 15k mile, 24 month base model 2016 Sorento (Model #73422)? I am waiting on his reply for the numbers he used for this quote.

What state is this? Kia numbers are regional.

What trim level is this? LX? What engine? FWD or AWD?

EDIT - you want to negotiate the selling price for a lease, just like you would for a purchase.

mcmayber1 · February 2016

NC, LX trim, 4 cyl, FWD.

mcmayber1 · February 2016

I've got three responses from 3 dealers:
Dealer #1:
$3500 lease cash, 0.00074 MF, $27820 MSRP, $16692 Residual, 15k miles/yr, and $500 down. He said $469/ mth..This doesn't add up to me... thoughts?
Dealer #2:
$2000 rebate, residual value $15572, idk MSRP, idk MF, 15k miles/yr, zero down, $530's a month.
Dealer #3
Zero down, 15k miles/year, 24 months, $359/month.

So, with the lack of information from the dealers, I'm looking at a $359 to $530 swing...wow.

Michaell · February 2016

mcmayber1 said:
NC, LX trim, 4 cyl, FWD.

24/15 lease numbers are .00074 and 60%, $3500 lease cash.

36/15 numbers are .00054 and 55%, $2000 lease cash.

You want to negotiate the best selling price for the lease; the only two variables are the price and the MF (dealer is allowed to mark it up by as much as .00040 for extra profit).

Michaell · February 2016

mcmayber1 said:
I've got three responses from 3 dealers:
Dealer #1:
$3500 lease cash, 0.00074 MF, $27820 MSRP, $16692 Residual, 15k miles/yr, and $500 down. He said $469/ mth..This doesn't add up to me... thoughts?
Dealer #2:
$2000 rebate, residual value $15572, idk MSRP, idk MF, 15k miles/yr, zero down, $530's a month.
Dealer #3
Zero down, 15k miles/year, 24 months, $359/month.

So, with the lack of information from the dealers, I'm looking at a $359 to $530 swing...wow.

No enough information to evaluate any of those offers.

You'll need the MSRP and the selling price or net cap cost from each dealer. Then we can plug those numbers in with the MF and residual (see post above) to calculate a payment.

mcmayber1 · February 2016

...then I'm assuming the numbers they worked out were using MSRP as the net cap cost....Question: does any lease cash come off the net cap cost after it is negotiated? So a MSRP of $30k, negotiated down to $26k, and lease cash of $2k. My net cap cost would be $24k?

Michaell · February 2016

mcmayber1 said:

...then I'm assuming the numbers they worked out were using MSRP as the net cap cost....Question: does any lease cash come off the net cap cost after it is negotiated? So a MSRP of $30k, negotiated down to $26k, and lease cash of $2k. My net cap cost would be $24k?

That is correct.

mcmayber1 · February 2016

Here's what I have going... $16335 residual (60%), .00074 money factor, $21819 cap cost (which is 93% of $27225 msrp minus $3500 lease cash). 24 month 15k miles per year.total with tax ($300 for SC) tag and title (roughly $45) and dealer fee ($699) payment is 321.71. Does this come out right?

Where is there to negotiate?

Michaell · February 2016

mcmayber1 said:
Here's what I have going... $16335 residual (60%), .00074 money factor, $21819 cap cost (which is 93% of $27225 msrp minus $3500 lease cash). 24 month 15k miles per year.total with tax ($300 for SC) tag and title (roughly $45) and dealer fee ($699) payment is 321.71. Does this come out right?

Where is there to negotiate?

Are you paying the taxes and fees up front, or are you adding them into the cap cost?

As it stands, I get $257/mo for 24 months using those numbers.

mcmayber1 · February 2016

Adding the taxes and fees to the cap cost. So around $1000

Michaell · February 2016

mcmayber1 said:
Adding the taxes and fees to the cap cost. So around $1000

Which would add about $42/mo to your payment, or $299/mo. Closer, but still about $450 difference.

cbo2016 · February 2016

Can you provide numbers for 2016 SX V6 AWD, 36/10, in Iowa? Also, I am getting an offer of $430 per month with only 1st payment down. Msrp is $41295 and selling price of $35323. Does Kia Financial offer MSDs?

Michaell · February 2016

cbo2016 said:
Can you provide numbers for 2016 SX V6 AWD, 36/10, in Iowa? Also, I am getting an offer of $430 per month with only 1st payment down. Msrp is $41295 and selling price of $35323. Does Kia Financial offer MSDs?

.00095 and 60%. $2000 lease cash.

I get $350/mo plus tax with those numbers.

What is the net cap cost?

Kia does not offer MSDs.

mcmayber1 · February 2016

Reporting back with what I ended up with.
I appreciate your help.
Sticker price $29845
Msrp $27225 (LX 4cyl)
24 month 15,000 miles per year
Negotiated price $24919 plus $3500 lease cash
Cap cost $21419
60% residual $16335
MF .00074
Zero down other than 1st months payment
Fees added to cap cost:
$595 acquistion fee and $699 dealer fee. Tax tag title registration.
$304 a month.

samny1 · February 2016

Hi,

Could you please give me the RV and MF on a Sorento EX V-6 AWD with premium package for 36 months at 12K in NY? Is there a difference in the numbers if it is an EX without the V-6?

Thanks,

Stephen

Michaell · February 2016

mcmayber1 said:
Reporting back with what I ended up with.
I appreciate your help.
Sticker price $29845
Msrp $27225 (LX 4cyl)
24 month 15,000 miles per year
Negotiated price $24919 plus $3500 lease cash
Cap cost $21419
60% residual $16335
MF .00074
Zero down other than 1st months payment
Fees added to cap cost:
$595 acquistion fee and $699 dealer fee. Tax tag title registration.
$304 a month.

Congrats - looks like a solid deal.

Enjoy your new Kia!

Michaell · February 2016

samny1 said:
Hi,

Could you please give me the RV and MF on a Sorento EX V-6 AWD with premium package for 36 months at 12K in NY? Is there a difference in the numbers if it is an EX without the V-6?

Thanks,

Stephen

EX V6 AWD - .00080 and 59%
EX 4-cyl AWD - .00044 and 57%

$2000 lease cash.

ploveletta · February 2016

Hi can you tell me if this is a good deal, my credit score is in 620 range. Could get a better deal if I had a cosigner with the same credit score but more payment history? Also what would the mf be for credit score of 646? I am thinking of waiting until my credit score increases.

2016 Sorento SX AWD V6
Msrp 40,100
Negotiated price: 32586
Down payment $4000 plus 1st month $389
Monthly payment $389
36months/12,000 miles/yr
Money factor: 0.00319
Residual: 60%
They will throw in 3 years of free oil change service

Just found out I have to pay first month payment on top of the downpayment, I thought it would've been included.

Thank You for your help !

Michaell · February 2016

ploveletta said:
Hi can you tell me if this is a good deal, my credit score is in 620 range. Could get a better deal if I had a cosigner with the same credit score but more payment history? Also what would the mf be for credit score of 646? I am thinking of waiting until my credit score increases.

2016 Sorento SX AWD V6
Msrp 40,100
Negotiated price: 32586
Down payment $4000 plus 1st month $389
Monthly payment $389
36months/12,000 miles/yr
Money factor: 0.00319
Residual: 60%
They will throw in 3 years of free oil change service

Just found out I have to pay first month payment on top of the downpayment, I thought it would've been included.

Thank You for your help !

What state is this? Kia numbers are regional.

We don't recommend making a down payment on a lease; if the car is stolen or totaled, the money is lost.

Lease inception costs include the first payment, bank fee, dealer fee and any DMV or license costs.

ploveletta · February 2016

Sorry this is N.Y...

Michaell · February 2016

ploveletta said:
Hi can you tell me if this is a good deal, my credit score is in 620 range. Could get a better deal if I had a cosigner with the same credit score but more payment history? Also what would the mf be for credit score of 646? I am thinking of waiting until my credit score increases.

2016 Sorento SX AWD V6
Msrp 40,100
Negotiated price: 32586
Down payment $4000 plus 1st month $389
Monthly payment $389
36months/12,000 miles/yr
Money factor: 0.00319
Residual: 60%
They will throw in 3 years of free oil change service

Just found out I have to pay first month payment on top of the downpayment, I thought it would've been included.

Thank You for your help !

ploveletta said:
Sorry this is N.Y...

36/12 lease numbers for the SX AWD V6 are .00079 and 59%. .00319 MF for tier 7 (620-639).

646 credit score would lower the MF to .00199.

samny1 · February 2016

Michaell said:

samny1 said:
Hi,

Could you please give me the RV and MF on a Sorento EX V-6 AWD with premium package for 36 months at 12K in NY? Is there a difference in the numbers if it is an EX without the V-6?

Thanks,

Stephen
EX V6 AWD - .00080 and 59%
EX 4-cyl AWD - .00044 and 57%

$2000 lease cash.

Thank you.

vlady15 · February 2016

Hi, can you tell me residual, MF, and any lease cash available for 2016 Sorrento SXLimited 6cyl AWD. State: Maryland

vlady15 · February 2016

vlady15 said:
Hi, can you tell me residual, MF, and any lease cash available for 2016 Sorrento SXLimited 6cyl AWD. State: Maryland

I forgot to mention, this is for 36/10k or 36/12k lease.
Also does kia allows MSD?

Michaell · February 2016

vlady15 said:

vlady15 said:
Hi, can you tell me residual, MF, and any lease cash available for 2016 Sorrento SXLimited 6cyl AWD. State: Maryland

I forgot to mention, this is for 36/10k or 36/12k lease.
Also does kia allows MSD?

36/12 numbers - .00062 and 55%. Add 1% for 10K.

$3000 lease cash.

Kia does not have an MSD program.

jdwinnyc · February 2016

Hello, can you provide the MF and residual for metro NYC (and northern NJ) for a 2016 Kia Sorento Limited 4cyl Turbo, 36 months, 10k miles per year.

Michaell · February 2016

jdwinnyc said:
Hello, can you provide the MF and residual for metro NYC (and northern NJ) for a 2016 Kia Sorento Limited 4cyl Turbo, 36 months, 10k miles per year.

I'll assume AWD, based on your location.

.00010 and 54%. $3000 lease cash.

Numbers expire today, 2/29/16

tmacpolo · February 2016

I am at work, so I don't have all the numbers but I have been offered 0 down, 300 per month for 36 mo. On a 2016 Kia Sorento. Live in as. 12k miles yr. 27700 Msrp. Does this sound like a good deal or do you think I can get them lower. They are pushing to do deal today as national ad is thru feb and its the last day of the month

Michaell · February 2016

tmacpolo said:
I am at work, so I don't have all the numbers but I have been offered 0 down, 300 per month for 36 mo. On a 2016 Kia Sorento. Live in as. 12k miles yr. 27700 Msrp. Does this sound like a good deal or do you think I can get them lower. They are pushing to do deal today as national ad is thru feb and its the last day of the month

We would need to know the selling price or net cap cost to figure a payment.

What trim level? Engine? AWD or FWD? So many variations of the Sorento, all of which have different lease numbers.

tmacpolo · February 2016

Sorry, don't have all the numbers but it is an lx, msrp 27700. White tan seats

Michaell · February 2016

tmacpolo said:
Sorry, don't have all the numbers but it is an lx, msrp 27700. White tan seats

I-4 or V6? FWD or AWD? What state?

tmacpolo · February 2016

Sorry, I don't know how to add this to the first two messages but the selling price/net cap cost is 23671.50. Front wheel drive 4 cylinder

tmacpolo · February 2016

Arizona

Michaell · February 2016

36/12 for Sorento LX FWD I-4 - .00054 and 57%. $2000 lease cash, which you can use to lower the selling price of the vehicle.

tmacpolo · February 2016

is lease cash the rebate? He said that was included in the price he quoted

Michaell · February 2016

tmacpolo said:
is lease cash the rebate? He said that was included in the price he quoted

Lease cash can be treated like a rebate and used to discount the transaction price further.

tmacpolo · March 2016

Do we know what the residuals (12k per year, 10 as well if it is an option), rebates and money factors are yet moving forward now that February has passed. If not, when are they typically released. If they are not out, are the numbers from Feb. still good for a few days? The vehicle I am inquiring about is a Kia Sorento, FWD, automatic, 4 cyl, LX. White with tan cloth interior. MSRP 27,700.

ashenmorality · March 2016

I appreciate the hard work you guys do to help us out! I know its soon, but can I ask for the Residual, MF, and rebates for 24 months on a 2016 Sorento SXL AWD V6 and then the turbo 4 (both with tech package) for 12k miles. Sorry in Denver, CO

Michaell · March 2016

tmacpolo said:
Do we know what the residuals (12k per year, 10 as well if it is an option), rebates and money factors are yet moving forward now that February has passed. If not, when are they typically released. If they are not out, are the numbers from Feb. still good for a few days? The vehicle I am inquiring about is a Kia Sorento, FWD, automatic, 4 cyl, LX. White with tan cloth interior. MSRP 27,700.

We have some numbers for Kia in March ... but, only certain regions. What state is this?

Michaell · March 2016

ashenmorality said:
I appreciate the hard work you guys do to help us out! I know its soon, but can I ask for the Residual, MF, and rebates for 24 months on a 2016 Sorento SXL AWD V6 and then the turbo 4 (both with tech package) for 12k miles. Sorry in Denver, CO

No CO numbers yet for March, sorry.

wpb5 · March 2016

Hi guys,
Can I please have MF, RV and cash rebates 36/12 lease, EX V6 FWD , state of Florida,
Thank you

Michaell · March 2016

wpb5 said:
Hi guys,
Can I please have MF, RV and cash rebates 36/12 lease, EX V6 FWD , state of Florida,
Thank you

Sorry, no Florida numbers yet for March.

familyguy12 · March 2016

Hi!

Are March numbers available yet for Sorento SX V6 AWD for 36mo/12K/year and 24mo/12K/year leases in Washington state? Top tier credit.

Thanks!

kyfdx · March 2016

familyguy12 said:
Hi!

Are March numbers available yet for Sorento SX V6 AWD for 36mo/12K/year and 24mo/12K/year leases in Washington state? Top tier credit.

Thanks!

.00108 MF and 60% residual. $2000 lease cash
.00063 MF and 65% residual. $3000 lease cash

2016 Kia Sorento Lease Questions

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