Last post on Sep 01, 2013 at 7:55 AM
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Kia Optima, Car Buying, Car Leasing, Sedan
#163 of 457 Re: 2012 Kia Optima EX Turbo w/ Premium Package [rp8]
Mar 16, 2012 (6:18 am)
Your numbers are a little off. The EX Turbo per car man is a 57% residual not 58%, and mf is .00109 not .000109 (roughly $32 a month). MSRP for the EX Turbo w/ premium is $28,800 so not sure where that other grand is coming from.
Given those numbers and assuming buy for invoice less $2k lease/comp your payment w/out tax $269, if taxes is 6.5% total payment would be $287.
The lower residual and higher price of the SX hurt more than the MF factor, your payment drops $10 for lower MF but goes up $40 for higher price and lower residual. MF factor is only changing payment by $10 a month. MSRP of $30,200, buy for invoice less $2k so $26,145, MF .0006, 54% residual is a payment of $296 before taxes, $315 w/ 6.5% tax rate.
Thats what I'm deciding right now, is it worth $30 a month for the SX features, I'm leaning towards the SX at the moment.
#164 of 457 Re: 2012 Kia Optima EX Turbo w/ Premium Package [vampregen]
Mar 16, 2012 (1:15 pm)
Thank you for the information. Yes, I meant to put .00109. As for the 58% Residual, thats the residual that was negotiated into the deal. I didn't know that the residual on the SX is 54%, that is good to know. I really don't like the Leather/Cloth seat combo in the SX. That is really the only reason I am going for the EX Turbo.
The only issue is there is NONE in the state of California right now. If anyone knows where I can find a WHITE 2012 Kia Optima EX Turbo with Premium and Technology Package in the state of California, please let me know. The ONLY one I could find is a white EX Turbo with Premium Only in Perris, Ca. I would go for that, but I really want the Navigation.
On a side note: Does anyone know when the UVO2 will be out on the 2012 Optimas? It is rumored to be coming out next quarter, but I am not sure. Also, does anyone know if this is going to be a software update or if the hardware is going to be different as well? From the looks of it (http://www.youtube.com/watch?v=8z_6n7UOio8), it seems like it will have the extra eService button on the front console next to the screen, so I am assuming it is a whole new system and not just a software update. Any thoughts or conclusions on this matter? I don't want to jump into a 3 year lease and then in a few months, the new shipment of Optimas come in with UVO2
Thanks for your help vampregen and if anyone else has any information or thoughts, please let me know.
#165 of 457 Re: 2012 Kia Optima EX Turbo w/ Premium Package [rp8]
Mar 16, 2012 (5:54 pm)
Finally went and saw these cars in person today and took a test drive. After this I'm definitely going with an EX Turbo over SX. I also didn't really care for the seats in the SX, the "carbon fiber" interior looked alot cheaper than the wood on the EX, and I really don't care for most of the 18" wheels. The other little features are nice and might consider it if they were the same price, but for $30 a month less the EXT is a no brainer.
I was sold on the premium though, I wasn't sure prior to seeing it in person. Cooled seats (im in TX), pano roof, backup cam, and sound system definitely worth it to me.
#166 of 457 New to leases and want to make sure I understand
Mar 16, 2012 (8:24 pm)
Hello all! I need some advice...
I am looking at a 2012 Optima EX (non-turbo) with the Premium package and not the tech package. I need low payments for the next 3 years at which time I am expecting to be able to afford a lot more (large loan being paid off) which brings me to consider a lease.
If you were planning on buying the car at the end of the lease does the following make since...
Walking out the door the price would be 27145.71. But then they said if I leased the car $1000 would be rebated and if I financed only $500 could be. (just hold that thought for a second)
On just the car alone the negotiated price is: $24455.00
That would mean the taxes plus all the fees add 2690.71 (27145.71 – 24455.00) I am not sure where the 1000 off in a lease comes in but the taxes alone in IL are killer so it kinda makes since?
I was planning on putting $2890.04 down (which includes first month payment) which made the monthly payment of 300.04 (12k mile lease) - for remaining 35 months
The residual amount is 15432.75
It seems to do this and then finance the remaining 15432.75 for another 3 years (under the assumption I am buying the car) would seem expensive but I am really not sure.
Does this sound right? How is the money factor determined? They said something about a 1.9 rate on the lease? How much is really financed on a lease? Opinions? Thoughts? Worth it?
#167 of 457 Re: Leasing EX Turbo or SX [haggard]
Mar 17, 2012 (3:53 pm)
OK, here is the deal we took: 2012 Black EX base, cargo tray, net, carpeted floor mats, and door sill applique (whatever the hell that is). 36 months/15K miles per year. Zero out of pocket at delivery, 35 payments to go.
We had been shopping, as I've said here before, since late November. My wife got so sick of waiting she would have paid sticker had I not pulled the trigger. Inventory near me is low and most were loaded up with the packages we weren't interested in. In the end, we stuck with the dealer we purchased our last KIA from, Keystone Kia in Allentown, PA. A smaller family owned and operated dealership without the sleazy car guy approach. They are no pressure, good people who stand behind the sale(the Sedona had some issues, they handled without a blink). I highly recommend them.
These numbers are straight from my lease agreement:
Selling Price $22,739.00 ($154 above Edmunds invoice)
Acq Fee $ 595.00
Gross Cap Cost $23,334.81
Cap Cost Reduction $ 1,634.43 (loyalty + lease cash) - (1st month and ttl)
Adjusted Cap Cost $21,700.38
Residual (55%) $13,282.50
Depreciation $ 8,417.88
Ttl Base Monthly Pmts $ 9,299.52
Finance (Rent) Charge $ 881.64
Total of All Payments $10,136.52
Base Monthly Pmt. $ 258.32
Monthly Sales/Use Tax $ 23.25
Total monthly Payment $ 281.57
Money Factor 0.00070
Sales Tax % 9.00
Based on what people are saying here and on the purchase thread, I don't know that I did all that well, but I can live with it for my first lease. Not sure how people are getting a thousand or more under invoice before rebates, perhaps they live in highly competitive markets? I would love to see the same details on those deals, so next time I am a little better prepared. I hope that my info will help someone do a little (or a lot) better for themselves.
The car, by the way, is fantastic.
#168 of 457 Re: Leasing EX Turbo or SX [haggard]
Mar 18, 2012 (8:41 pm)
Wow new problem, none of the 10 dealers in north texas have anything without both premium and tech and everything else. What a rip I may have to find something else, its like an extra $30 in payment for worthless fluff.
#169 of 457 2012 Optima SX Lease
Mar 18, 2012 (11:33 pm)
Need some help. I want to lease a 2012 Optima Sx w/ Premium Tech Package. I have never leased a car before so I do not know what a good deal may be.
The dealer wants
$319 mo + tax = $346 mo for 36 months
Msrp is about $31000
I want $0 down with a payment of $300-320 month for 36 months......is this unrealistic of me?
this is for southern California
#170 of 457 New to Kia and leasing
Mar 19, 2012 (3:57 am)
Hi , appreciate some help please.
I am looking at leasing a Kia Optima LX from a local dealer. I have just started the process and want to close this next weekend. I am looking at the LX model, $21,000 MSRP with about $250 in options. Can anyone give me the details on the "deals" that exist today? My credit is excellent.
Mar 19, 2012 (5:45 am)
My Honda lease is up in April. I am looking at an EX w/premium pkg. The dealer told me to wait until April because the deals would be better also he didn't have the car I wanted. Does he know that the deals will be better or is it possible that the rebates will expire at the end of March?