Is this Possible?!

[Jonathan]

I’m trying to lease an SX with Prestige package for under 600 with 3000 down. I’m located in NYC but every dealer is marking these cars up crazy high! Am I crazy for believing in these numbers?

 

[hammick]

We just got back from a long weekend in NYC. It was so sad to see so many nice cars with dings, scratches, dents, bashed bumpers, bird shit, missing mirrors, rashed wheels, etc. No way I could sleep with my Telluride parked on the street even with a "Bumper Badger".

I haven't leased a vehicle for 20 years but I'm guessing there are no lease deals on Tellurides.

 

[Schlegel]

I’m trying to lease an SX with Prestige package for under 600 with 3000 down. I’m located in NYC but every dealer is marking these cars up crazy high! Am I crazy for believing in these numbers?

See the KIA web site and you can calculate a KIA Lease on a vehicle you build on the KIA web site. You can calculate payments based upon where your location. $600 is not off the wall depending on the MSRP, etc. I had a dealer quote me $860 yesterday, same terms. Until I found out the SX was marked up 8K over sticker!

 

[Jonathan]

See the KIA web site and you can calculate a KIA Lease on a vehicle you build on the KIA web site. You can calculate payments based upon where your location. $600 is not off the wall depending on the MSRP, etc. I had a dealer quote me $860 yesterday, same terms. Until I found out the SX was marked up 8K over sticker!

I was getting the same numbers as you by 3 different dealers in NY and NJ. It’s absurd.

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[jw_tx21]

I’m trying to lease an SX with Prestige package for under 600 with 3000 down. I’m located in NYC but every dealer is marking these cars up crazy high! Am I crazy for believing in these numbers?

On Kia's lease calculator, it shows the following for an SX-P.

Residual value: 59% for three years, 12k miles/yr, and a $2,700 manufacturer rebate. With a 36 month average payment of $545 for a $48,130 sticker vehicle.

So, yes, it should be possible or close to it depending on how NY charges sales tax - I believe it's taxed on all lease payments plus acquisition fee up front.

Good luck getting a dealer to agree though... it certainly won't happen on an in-stock unsold SX-P right now. You'd have to order and get all markups taken off and then hope for minimal doc fees. Problem is once it arrives, incentives may be different.

Use kia.com calculator to help in negotiation - if you know the details of calculating a lease, you can back out the implied money factor, etc.

 

[Jonathan]

On Kia's lease calculator, it shows the following for an SX-P.

Residual value: 59% for three years, 12k miles/yr, and a $2,700 manufacturer rebate. With a 36 month average payment of $545 for a $48,130 sticker vehicle.

So, yes, it should be possible or close to it depending on how NY charges sales tax - I believe it's taxed on all lease payments plus acquisition fee up front.

Good luck getting a dealer to agree though... it certainly won't happen on an in-stock unsold SX-P right now. You'd have to order and get all markups taken off and then hope for minimal doc fees. Problem is once it arrives, incentives may be different.

Use kia.com calculator to help in negotiation - if you know the details of calculating a lease, you can back out the implied money factor, etc.

Thanks so much for the info. This gives me reassurance that I’m not asking for too much. I really don’t mind ordering one as well.

 

[jw_tx21]

Thanks so much for the info. This gives me reassurance that I’m not asking for too much. I really don’t mind ordering one as well.

Sure, I'd hold out for that if you are going to lease. When I was looking at leasing, the money factors were terrible, but they've gotten better from KMF. Did you find the lease calculator? It's gotten a bit more complicated since Kia overhauled their website. You're not asking for too much - I'd order and specify terms in the order using current lease incentives from KMF as a guide - like the rebate. I did the same thing a while back, but ultimately opted to buy due to lower interest rate.

 

[Jonathan]

I couldnt find the rebate you were speaking of but did find the calculator. It sucks how much they are marking this car up. I guess I will continue to try and look for a dealer around this state that sells at MSRP and go from there.

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[Schlegel]

I couldnt find the rebate you were speaking of but did find the calculator. It sucks how much they are marking this car up. I guess I will continue to try and look for a dealer around this state that sells at MSRP and go from there.

Where are you located?

 

[mrmac]

I’m trying to lease an SX with Prestige package for under 600 with 3000 down. I’m located in NYC but every dealer is marking these cars up crazy high! Am I crazy for believing in these numbers?

It all depends on the price the dealer is willing to sell at. There is no good reason for a dealer to sell any vehicle for less than someone else is willing to pay for it. Right now that amount is overwhelmingly higher than wholesale. Thus, you aren't crazy, just on the same level as spitting into the wind.

 

[Jonathan]

It all depends on the price the dealer is willing to sell at. There is no good reason for a dealer to sell any vehicle for less than someone else is willing to pay for it. Right now that amount is overwhelmingly higher than wholesale. Thus, you aren't crazy, just on the same level as spitting into the wind.

I just spoke with someone at Stamford kia and they told me I can get the SX for 3000 down and 600 a month; SX-P would be around 675. Does this sound right to you?

 

[Schlegel]

Depending on the options and if AWD or FWD. You need an exact # I was told more like $525 - $550.

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[jw_tx21]

I just spoke with someone at Stamford kia and they told me I can get the SX for 3000 down and 600 a month; SX-P would be around 675. Does this sound right to you?

An SX-P will be $2000 more than SX AWD... the payment different amounts to $2700 ($75*36) - so you can probably do better. But, do what makes you happy. The lease incentive is listed on the calculator near the bottom in the disclaimers section of the kia lease calculator. Bottom line is for 36 months, it's currently $2700 through 10/31 for an SX-P.

A lease payment is just three things: depreciation, finance charge and taxes. That's it. Here's a more detailed post that can help you determine if you are getting a "good" deal.

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

It's impossible to compare lease payments - as the details matter. They can set residual values higher to make payment look lower (but charge more rent - or finance charge). They can raise / lower money factor. Sometimes they don't even tell the customer about the KMF rebate - and then they can claim it for themselves if they do the lease deal with KMF. All kinds of games.

Do this for quick and dirty: $675*36 = $24,300 + $3000 down = $27,300. Then, add that to the residual in the contract - which should be around 59% of MSRP. What do you get? A number WAY higher than MSRP - on a $48,000 MSRP that would be $55,620. I'm pretty sure taxes and fees are way less than $7620... so that's not a good deal.

The KMF lease calculator for an SX-P showed a total lease charge of $22,620 ($545*36 + $3,000) for a similarly priced vehicle - that would be before NY taxes and fees. Assuming dealer fees around $400, and NYC sales tax around 8% on total lease payments (everything in sales contract) - then around $1,600+ for sales tax up front? So, all in you're looking at a total lease charge of about $24,620 for 3 years with KMF rebate and all fees included? This is just an approximation using KMF calculator. So, $27,300 would be pretty bad.

If comparing leases, it's best to try to compare with 0 cash down - on the Kia.com calculator, it shows a lease charge of $22,831 with 0 down (before taxes and fees, or ~$634 / month). They could do the SX-P for 3000 down and 600/month easily.

 

[Jonathan]

Depending on the options and if AWD or FWD. You need an exact # I was told more like $525 - $550.

I wish I got those numbers. I would take that in a Heartbeat.