What did you pay for your KIA Telluride?

[cliffnerd5]

Even though I think I got ripped off and it is embarrassing, I will share my details in the hopes that it helps others.

I am in NJ. I was searching on Kia.com for a SX-P and found one at a dealership 60 miles away. It is a SX with Prestige Package in Black Copper with Dune Brown leather seats. It has the towing package, carpeted floor mats, cargo tray, and wheel locks so the total MSRP including options and handling came to $48,110 on the window sticker.

I went this past Saturday (6/8/2019) and got the vehicle. I won't bore you with the negotiation process unless someone asks so here are my final numbers off the lease paperwork:

Gross Capitalized Cost: $58,196
Capitalized Cost Reduction: $4,890
Adjusted Capitalized Cost: $53,305
Residual Value: $25,979
Rent Charge: $7,954
Total of Base Monthly Payment: $35,280
Payments: 48
Monthly Payment: $735
Miles per year: 10,000

In summary, I put $5,000 down, it is $735 a month for 48 months with 10,000 miles per year.

I don't mean to be harsh, but aren't you almost pay for the entire car then give it back in 4 years? 8k short of the MSRP. With the 2500 in incentives only 5500? Don't know leases well.

 

[blh45]

I didn't lease. And, I wish I had asked for them to throw in an extended bumper to bumper warranty. I would add that to your request list!

 

[Buckeye-TRide]

Even though I think I got ripped off and it is embarrassing, I will share my details in the hopes that it helps others.

I am in NJ. I was searching on Kia.com for a SX-P and found one at a dealership 60 miles away. It is a SX with Prestige Package in Black Copper with Dune Brown leather seats. It has the towing package, carpeted floor mats, cargo tray, and wheel locks so the total MSRP including options and handling came to $48,110 on the window sticker.

I went this past Saturday (6/8/2019) and got the vehicle. I won't bore you with the negotiation process unless someone asks so here are my final numbers off the lease paperwork:

Gross Capitalized Cost: $58,196
Capitalized Cost Reduction: $4,890
Adjusted Capitalized Cost: $53,305
Residual Value: $25,979
Rent Charge: $7,954
Total of Base Monthly Payment: $35,280
Payments: 48
Monthly Payment: $735
Miles per year: 10,000

In summary, I put $5,000 down, it is $735 a month for 48 months with 10,000 miles per year.

So you’ll be paying $40k to lease a car for 4 years that costs $48k? That can’t be right.

 

[mrmac]

So you’ll be paying $40k to lease a car for 4 years that costs $48k? That can’t be right.

Perhaps he was $10,000 negative trade value?

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[wparker]

I don't mean to be harsh, but aren't you almost pay for the entire car then give it back in 4 years? 8k short of the MSRP. With the 2500 in incentives only 5500? Don't know leases well.

You are aren't being harsh, you are correct. I said, in the beginning, "I think I got ripped off". I should have said, "I got ripped off". They used a capitalized cost of $58,196, a little over $10,000 over MSRP.

 

[Buckeye-TRide]

Perhaps he was $10,000 negative trade value?

See his reply directly above...poor guy paid $10k over MSRP.

 

[mrmac]

See his reply directly above...poor guy paid $10k over MSRP.

Yes, poor guy

 

[CAsuKiHy]

Not poor, he sad he can afford it.

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[mrmac]

Not poor, he sad he can afford it.

Lol, that's a hoot, great one!

 

[popcrnchicken]

You are aren't being harsh, you are correct. I said, in the beginning, "I think I got ripped off". I should have said, "I got ripped off". They used a capitalized cost of $58,196, a little over $10,000 over MSRP.

What is the residual at the end? Are you going to buy it?

 

[wparker]

What is the residual at the end? Are you going to buy it?

Around $26,000. Probably not. My wife wants to get the Genesis SUV after the Telluride.

 

[Daparest]

Does anyone have any good info on whether lease cap cost reductions will continue after the end of this month?

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[popcrnchicken]

Does anyone have any good info on whether lease cap cost reductions will continue after the end of this month?

There will be new ones or none.

 

[Daparest]

That's kinda what I thought too.

 

[ElectricEliminator]

Wait... You are a "Banking CEO, CFO, CLO, ABC, 123, ETC" and you really just advocated for sinking 5 large into a down payment on a lease to reduce monthly payments? Wouldn't you advocate for a consumer to, oh I don't know... Put that 5000 dollars into a BANK and draw down from it to put towards their monthly as necessary, which effectively results in the same payment with virtually zero risk, not to mention interest (as lousy as that may be at the moment)?

 

[Mconde]

I just picked up an SX w/ prestige and AWD in Green Moss for $44,500 (not including TTL) in South Florida. I feel it was a good deal considering AWD is nearly impossible to find without ordering.

Thanks for sharing... I’m in South Florida and looking to purchase soon. What dealer did you buy from? All the best

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[Robert]

Thanks for sharing... I’m in South Florida and looking to purchase soon. What dealer did you buy from? All the best

I bought from Napleton Kia in Palm Beach Gardens and had a great experience. Stephen was my salesman and I did not pay over MSRP. I bought the s model it might be different if.you want the top model

 

[Mconde]

I bought from Napleton Kia in Palm Beach Gardens and had a great experience. Stephen was my salesman and I did not pay over MSRP. I bought the s model it might be different if.you want the top model

Cool, thanks so much

 

[Frankenmoose]

Thanks for sharing... I’m in South Florida and looking to purchase soon. What dealer did you buy from? All the best

I picked up at Phil Smith Kia in Lighthouse Point. Like everyone else, you may run into the issue of availability. Good luck.

 

[Mconde]

I picked up at Phil Smith Kia in Lighthouse Point. Like everyone else, you may run into the issue of availability. Good luck.

Thank you!