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You are in the Prices Paid - Buying & Leasing Experiences
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Kia Optima, Car Buying, Car Leasing, Sedan
#215 of 457 Re: OPTIMA OFFER: Is this the best lease deal I can get? [rotoberry]
May 20, 2012 (10:46 am)
Hi rotoberry. Manufacturers' official advertised leases usually leave a little meat on the bone so to speak. Savvy consumers who are in an area that has a decent level of competition are often able to beat manufacturers' advertised payments by shopping around and negotiating a lower selling price than the one that was used to work up the lease.
Kia is currently providing a $1,000 cash incentive on leases of the 2012 Optima. If I was in the market for one right now, I personally would shoot for a selling price of a couple hundred dollars overt dealer invoice minus this cash incentive. Once you have arrived at a selling price that you are comfortable with have the dealer work up a lease payment using KFS' buy rate lease money factor of .00049 (for consumers who qualify for its top credit tier) and you're in business.
Prices Paid: Buying & Leasing Experiences Forum
#216 of 457 Buyer's remorse
May 21, 2012 (5:21 am)
I'm having buyers remorse. We just leased a 2012 Optima LX base w/cargo mat, net, rear bumper appliqué for $252 plus tax (6% in Hallandale FL). I believe MSRP was $22090. But the order was written up and cap cost was $24000 something, if I remember correctly. I don't have the paperwork with me now. But I feel like we didn't make such a great deal. Can't tell you what the MF was, but residual was I believe $14576. We put nothing down, just paid first month and tag for $517, and qualified for competitive rebate ($1000) and college grad ($500). We traded my 2010 focus and they showed us $10,000 for which $8915 was owed. We had our 7 week old baby with us, who was crying off and on, and so we didn't have the time or patience to look over everything thoroughly. In addition to that, we didn't do the deal in one day, we had to leave on Saturday (because of work and the baby) and had them put everything together and we just went and signed on Sunday (yesterday).
My question is, is there anything we can do at this point to get a better deal? I know with financed cars you can take the car back. I'm not sure with leasing as this is my first lease. But what was advertised was $175 a month for 36 months and 12k miles a year with about $3000 for inceptions etc, and that included $2000 of rebates for which we qualified only for $1500. I just feel that our payments should be lower, somewhere between $200-225. Am I correct? And what can I do about it now?
#217 of 457 Re: Buyer's remorse [psorica]
May 21, 2012 (5:28 am)
Btw, our term is 36 months with 12k miles and we didn't add any service or protection plans. I know that $25-50 isn't much of difference, and I wouldn't mind paying it for more features. But it's a basic car (although still fairly decent), we have a new baby and $50 extra a month is $240/year, $720/3yrs. Still not a bank breaker but we have 2 kids (a teenager and a baby) so every dollar counts.
#218 of 457 lease numbers for Optima SX premium touring?
May 21, 2012 (4:14 pm)
could you please provide the MF and residual for an Optima SX with premium touring package? I am looking for a 36 month lease with 12k miles/year.
#219 of 457 Re: OPTIMA OFFER: Is this the best lease deal I can get? [Car_man]
May 22, 2012 (10:34 am)
I'm new here...And new to negotiating my own car deals, ( ex always took care of it)...So please be gentle with me!!
I have read through this whole thread and the "what did you pay" thread too...Several times in fact...And am still a little unsure how to proceed.
I'm probably looking at an LX or perhaps a very low-end EX, ( that's what fits my budget)...I'll also need to lease to keep the payments lower...So far I've been contacted by 2 salesman online...One very local to me and the other about 100 miles away.
The 2nd dealer shot me a figure very quickly of $21661 for an LX, saying he either has or can obtain any LX in the color of my choice for that price...I came back with a price of 20,800 ( and don't even have a clue if that was a good come-back)...He says he's searching all "incentives" right now, but we have figured out that I DON'T qualify for the competitive whatever of $1000...And that's where it stands at this point, ( just waiting for him to get back with me).
The 1st dealer told me he had 1 LX for $22,110 and another for 22,800...He also has an EX for $22,845...I haven't actually offered him anything on any of the above, but ask him if he could make any of those work with the advertised Kia lease deal of $189, ( perhaps not the right move on my part I know)...His reply is he'll do whatever he can to make something work and to CALL HIM...So that's where I stand with him.
Here is what I haven't shared with them, but will here, in hopes of getting some input...While the $189 lease deal would be ideal for me, I could be pressed to go to $225...Also, the lease deal says it requires $2500 upfront...I can do that, but would prefer to put as little as possible up...Perhaps $1000-$1500.
I would appreciate any thoughts and/or input as to how some of you would proceed with this whole thing...What you think is realistic, etc.
Finally, I see many of you referring to the invoice price and how much over or under you're paying...But, are you usually referring to the factory invoice or the dealer price/invoice??...That would be helpful to know.
Thanks for any advice!!
#221 of 457 Re: OPTIMA OFFER: Is this the best lease deal I can get? [Car_man]
May 22, 2012 (11:10 am)
Thanks Car_man & johngettler for the helpful replies & links!
I have a follow-up question: You mention the $1000.00 cash incentive that is currently available for Kia leases. Looking at the lease deal that is currently posted on the Kia.com website ( http://i49.tinypic.com/2m81hxz.jpg ), I am assuming that this means that the $1000 lease incentive that you are talking about would reduce my "cash due at signing" from the listed $2499 to $1499? I am only asking in advance as I want to be fully prepared when I approach the dealerships (I can imagine them either denying the existence of the incentive money or possibly stating that the $1000 incentive is already factored into the Kia.com deal). Thanks if you guys can comment on this part.
#222 of 457 Re: OPTIMA OFFER: Is this the best lease deal I can get? [jules215]
May 22, 2012 (4:40 pm)
I will let those that have completed purchase of an Optima chime in, but as a general word of advice, do not put money down on a lease (making first payment, taxes, and fees is not considered money down). Also, Car_Man has posted several good tips in this thread in regards to where to start negotiations ...
#223 of 457 Re: OPTIMA OFFER: Is this the best lease deal I can get? [jules215]
May 23, 2012 (4:53 am)
Ditto what illf suggests. You can do the lease without any money out of pocket up front, "Sign and Drive" as they say. The payment will be higher than you may have originally wanted, but if the car goes down in an accident, insurance only pays off what is still owed and you will be out whatever you paid at delivery. You are better off putting that money to use paying off other higher interest debt, investing it, or keeping it in your savings account than putting it at risk in a car lease.
Watch out for the 100 mile away guy. I went that route for awhile, the deals always changed when we got to the table. They counted on me not wanting to waste the trip. And, at today's gas prices, multiple trips to far away dealers can quickly eat into any savings you are able to negotiate on the car itself. Also, check with other dealers and/or KIA to confirm you are not eligible for the competitive rebate. Dealers lie about that all the time, thinking you will take their word for it and they make another easy 1K.
#224 of 457 Re: OPTIMA OFFER: Is this the best lease deal I can get? [haggard]
May 23, 2012 (5:22 pm)
Thanks for the responses!!...The 100 mile away guy seems to have lost interest today...No biggie really...I did question if the deal might change once we got up there and what a hassle that would be.
My local guy has come back with a lease of $237 a mo. ( this includes taxes (?) and 15K miles per year)...However, that is with a $1500 down-payment...AND is for a "spicy red", NOT a color I'm interested in...On their website it's only priced $30 less than a car I have expressed interest in...So not sure what the deal is with that.
I understand the reasoning behind trying to get out the door with a lease and no down-payment, but I may need to make one to have a payment I feel comfortable with...Out of curiosity has anyone gotten out the door with no down-payment and a payment in the very low 200's??
I'm also trying to nail down a color...Originally liked the Satin Metal, but then saw the Dark Cherry and fell in love...However, there don't seem to be any Dark Cherry LX's , nearby so I'm now back to looking at the Satin Metal or the Titanium perhaps...Anyone have any thoughts pro/con on those??...( Also I don't have a garage and am wondering if the Dark Cherry won't be similar to black in trying keep looking nice).