Please help. I’m trying to lease a telluride!

[iMig2019]

If there’s anyone here that is leasing a telluride LX FWD or an S FWD?
What are you paying on it? And what did you give down? I just want to get an idea of what to expect when I go to a dealership. Thank you so much.

 

[Patsfan29]

I leased an S 3 months ago. They wanted 3k down and were trying to add dealerships options that a lot of them are doing right now. Sticker price was just under 35k. We spent 2 days doing the back and forth crap, them saying what a great car it was, so hard to find, etc, etc. I just rolled the dice and said this is what I can do, nothing more, and left. We still had 3 months left on the lease we had, so I knew I could wait if it didnt work out. 1 day later they called and I got the numbers I want. 3 year lease, 15k miles a year, 1 k down. Payments are 437 a month.

 

[iMig2019]

Cool man. That’s better than I was quoted before. I was quoted 569 with no money down. So out the door you only paid 437?

 

[Patsfan29]

Yes. The other angle that I used that kinda wore them down was I turned in a 2016 Honda Odyssey. While comparing some of the safety and technology features, the 2016 Odyssey was more high tech, so I kept angling on why would I want a car that doesnt even have all the safety features of one that is 4 years newer? He kept trying to say I wont be in a minivan anymore and I said I would rather be in a minivan and safe, looking like a minivan dad, than in a cooler car to the eye, with less technology? That and just walking away where I guess people had been paying the 5k for the extras.

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[rvv2002]

Cool man. That’s better than I was quoted before. I was quoted 569 with no money down. So out the door you only paid 437?

There's a couple of threads about calculating payments that might help. First you'll need the money factor and residual for the car you want. Then use an online calculator with the MSRP, trade ins, credits, etc. Thats how you'll make sure you aren't getting gouged with the MF or starting value.

 

[iMig2019]

Yes. The other angle that I used that kinda wore them down was I turned in a 2016 Honda Odyssey. While comparing some of the safety and technology features, the 2016 Odyssey was more high tech, so I kept angling on why would I want a car that doesnt even have all the safety features of one that is 4 years newer? He kept trying to say I wont be in a minivan anymore and I said I would rather be in a minivan and safe, looking like a minivan dad, than in a cooler car to the eye, with less technology? That and just walking away where I guess people had been paying the 5k for the extras.

Yeah you gotta stand your ground. Them salesmen are in it for themselves. Which is understandable. But us consumers have say in the market. If all these other people would not agree to these markups then we wouldn’t be having these problems. Sucky part about it. It takes a lot of our precious time to go to a dealer to walk away with nothing.

 

[Patsfan29]

Yeah you gotta stand your ground. Them salesmen are in it for themselves. Which is understandable. But us consumers have say in the market. If all these other people would not agree to these markups then we wouldn’t be having these problems. Sucky part about it. It takes a lot of our precious time to go to a dealer to walk away with nothing.

I agree. I still think about how annoying the process was, but with 3 months left on the lease I had, I knew I had time and had been researching and using this website as a tool for reference. I feel like the mindset of they need to sell it much more than I need to lease/buy kept the process in perspective and kept me from getting caught up in signing to something ridiculous like you still see out there. An SX would have been a different story, but the S is nice, but as you can read through various posts, really lacks a lot of common sense features that similar vehicles come standard with through other makes. I am happy with the 7 seats and the looks and performance. But when the lease is up, i will definitely look for something else, maybe another Telluride, maybe not.

 

[jw_tx21]

If there’s anyone here that is leasing a telluride LX FWD or an S FWD?
What are you paying on it? And what did you give down? I just want to get an idea of what to expect when I go to a dealership. Thank you so much.

It's impossible to compare leases based on payments - you'll just get frustrated. Best to understand how to calculate a lease to know if you're being taken. Generally, leases through dealerships are designed to take the customer for a ride.

Here's a gauge for payment: compare the payment they are telling you to depreciation only which is:

Car price (hopefully MSRP less net lease incentive) - 0.61xMSRP

That number gives you depreciation if a 61% residual factor is used.

For example, on a 35k Kia car with a $2k lease incentive plus the $650 acquisition fee.

35,000-2,000+650-.61*35000 = 12,300. That equals $341 per month (0 down) for 36 months.

Current lease incentive is usually in KMF payment calculator.

Anything above that amount is just the finance charge and sales taxes.

So yes, signing a lease above $500 per month for 3 years would be gravy to the dealership and KMF. People throw away a lot of money on leases... but good for others who purchase car after turn in! I wrote a few other posts with details of leasing - earlier in year.

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[iMig2019]

I agree. I still think about how annoying the process was, but with 3 months left on the lease I had, I knew I had time and had been researching and using this website as a tool for reference. I feel like the mindset of they need to sell it much more than I need to lease/buy kept the process in perspective and kept me from getting caught up in signing to something ridiculous like you still see out there. An SX would have been a different story, but the S is nice, but as you can read through various posts, really lacks a lot of common sense features that similar vehicles come standard with through other makes. I am happy with the 7 seats and the looks and performance. But when the lease is up, i will definitely look for something else, maybe another Telluride, maybe not.

Yeah that’s why I’m leaning towards leasing since it’s the first

It's impossible to compare leases based on payments - you'll just get frustrated. Best to understand how to calculate a lease to know if you're being taken. Generally, leases through dealerships are designed to take the customer for a ride.

Here's a gauge for payment: compare the payment they are telling you to depreciation only which is:

Car price (hopefully MSRP less net lease incentive) - 0.61xMSRP

That number gives you depreciation if a 61% residual factor is used.

For example, on a 35k Kia car with a $2k lease incentive plus the $650 acquisition fee.

35,000-2,000+650-.61*35000 = 12,300. That equals $341 per month (0 down) for 36 months.

Current lease incentive is usually in KMF payment calculator.

Anything above that amount is just the finance charge and sales taxes.

So yes, signing a lease above $500 per month for 3 years would be gravy to the dealership and KMF. People throw away a lot of money on leases... but good for others who purchase car after turn in! I wrote a few other posts with details of leasing - earlier in year.

good info. I’m only thinking about leasing cuz I’ve never leased before and what if I don’t want like the vehicle anymore after 3 yrs. idk. But thanx for your words of wisdom.

 

[jw_tx21]

good info. I’m only thinking about leasing cuz I’ve never leased before and what if I don’t want like the vehicle anymore after 3 yrs. idk. But thanx for your words of wisdom.

Yeah, just be sure you are happy with the deal. Even though it's the first year, the car will still have value in 3 years. KMF money factors tend to be quite high - so the rent charge is around $5k. Here's a more detailed post explaining the lease in response to someone's question.

Gravity Grey SX AWD Lease Quote - Good deal??

Hi everyone, First time poster and first time lease negotiator. I received a quote from my local dealer in Philadelphia on a Gravity Grey SX AWD due in next month. They are quoting me $1500 for trading in my 2005 BMW X5 with 150k miles... which was lower than I expected... but okay. Ideally I...

tellurideforum.org

 

[jw_tx21]

Yeah that’s why I’m leaning towards leasing

One more bit of info - I was reviewing Kia's site, and their lease calculator will be very helpful for you to anchor the price and see incentives. Have you tried it? If not, you have to now search and find a model of the car you want that is in stock somewhere, and then click calculate payment. You'll see the finance and lease options to compare with the noted incentive and total of lease payments on right. When I was looking at an S model, it appears that Kia has really low money factors and relatively higher residual values for this trim - for 12k miles, the residual is 63%, for 15k it's 61%. The total of the lease payments over the estimated depreciation was quite low - implying a low money factor. Now, if you want to add sales tax on top of that and divide by 36 (if your state taxes on value of vehicle) - then your payment comes near that of Patsfan.

Note that the lease payment on Kia.com will always be lower than in reality because it excludes taxes and fees. You could opt to pay those up front.

The whole situation changes for an SX or SX-P trim - I noticed that their money factor is much higher, the residuals are lower - and the finance or rent charge climbs above $5000. Leasing the SX / SX-P right now just looks like a bad deal. But not too bad on an LX or S. Just another tidbit. Let us know if you have more questions.

 

[the1q]

I leased an S 3 months ago. They wanted 3k down and were trying to add dealerships options that a lot of them are doing right now. Sticker price was just under 35k. We spent 2 days doing the back and forth crap, them saying what a great car it was, so hard to find, etc, etc. I just rolled the dice and said this is what I can do, nothing more, and left. We still had 3 months left on the lease we had, so I knew I could wait if it didnt work out. 1 day later they called and I got the numbers I want. 3 year lease, 15k miles a year, 1 k down. Payments are 437 a month.

What dealer did you get the lease from? My initial quote from Dan O'Brien Kia in Norwood was $450/mo on a Telluride S (36 mo, 10k miles, 4k down). I thanked them and walked out.

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