Last post on Sep 01, 2013 at 7:55 AM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Kia Optima, Car Buying, Car Leasing, Sedan
#276 of 457 Re: 2012 Kia Optima [steevo]
Sep 27, 2012 (3:03 pm)
Hi steevo. Kia Financial Services' September buy rate lease money factor and residual value for a 36-month lease of a 2013 Optima Sedan SX with 15,000 miles per year are .00062 and 54%, respectively for consumers who qualify for its top credit tier.
I don't believe that Kia is currently providing support on 2-year leases of this car.
When negotiating your deal, make sure to take advantage of the $1,000 cash incentive that is currently available on leases of this car.
Prices Paid: Buying & Leasing Experiences Forum
#277 of 457 My 2013 Optima EX Lease DEAL
Sep 28, 2012 (10:15 am)
I think i got a great deal on my lease but doesn't everybody think they get a great deal? haha
I don't know the specifics but here goes, maybe this will be able to help some people who are browsing.
2013 Optima EX with Premium package only. I believe MSRP is 27,xxx. I don't know the specifics as far as money factor etc but these are the bottom line numbers.
$2k down total out the door
$242 + 7.75% tax brought the payment to $259
Did not qualify for any of the rebates (loyalty or competitive)
It was hard to get this deal for me, walked out (respectfully) of a couple of dealers. Took me about a week to negotiate this deal. 800 FICO scores.
As for the car, i'm totally impressed with all the value. Gas mileage is a little misleading. Only averaging 24.5 combined driving very gently.
#278 of 457 Re: 2013 optima ex w/premium& tech pack [betamu1932]
Sep 28, 2012 (6:52 pm)
If you live in nY go to Yonkers,ask for Rich Palmeri or joe.P there great and will help you tell them gw told you to come
#279 of 457 Re: 2013 Kia Optima [Car_man]
Sep 29, 2012 (7:16 pm)
Very much appreciate your assistance in this forum...it's been a great help. But, need a bit more information before I head to the dealerships tomorrow.
I'm looking to lease a 2013 Kia Optima EX w/ Premium Pkg. which has MSRP of a bit more than $27K. Going for 36mth and either 12K or 15K.
Can you provide the current (Sept.) residual value, MF and if there are any cash incentives for this trim?
I bought a Kia Sportage last October so was hoping I could get a loyalty bonus as well. Are there any others I should be aware of?
Oct 02, 2012 (7:22 am)
Do you have an update on what Kia did for 3 year leases, 12k miles in October? Looking to buy an EX within the next two weeks or so. Also if you have the highest credit tier residual values and finance factors, that would be helpfull.
Thanks for you help!
#281 of 457 Re: October changes? [lukesdaddy]
Oct 02, 2012 (8:51 am)
If you search my member name you will be able to see what i just negotiated for an '13 EX with premium package. Hope it helps.
#282 of 457 Re: October changes? [franko9217]
Oct 02, 2012 (10:57 am)
Thanks, Frank. I did see your post a couple of days ago and it was a big help in giving me an idea of what to shoot for. Thank you for posting it.
Since i didn't pull the trigger in September, I was curious to find out if the $1,000 lease support was still valid or if any other incentives popped up. Also wanted to make sure I didnt get any dealer BS about them changing the MF or residuals values befroe i go back to negotiate.
#283 of 457 2013 Optima EX w/ Premium & Tech Pkg Lease
Oct 03, 2012 (1:46 am)
Have a look at some of these numbers and give your honest opinion on anything.
I used TrueCar and this forum to negotiate, but ran into some issues as I was not prepared enough.
One tip I can give...be aware that the dealer incentives do not reduce the agreed upon value of the vehicle (Base Cap Cost). Negotiate that first...then add in the incentives (cap cost reductions). It's tough to do when the dealer shows them to you up front and says what a great deal you're getting. Try to ignore this and focus on getting the agreed upon value of the vehicle as low as you can. Getting up from the chair and walking out helps in getting what you want. It will also give you some time to work the numbers and formulas I've provided below.
MSRP = $29040 (28,265 + 775 freight/handling)
Base Cap Cost = $28388 (I feel I should have gotten this lower...*sigh*)
Fees added = $1194 (Lease Aqu. Fee = 595 / Doc Fee = 599)
Cap Cost Reductions = $3700 ($2000 from dealer + $1700 cash down payment (of which $684 went towards first month and reg fees...I don't remember agreeing to that) So, actually CCR was $3015.85.
Adjusted Cap Cost = $26566.15
Residual Value = 55% of MSRP
Money Factor = .00041
Term = 36 mnths / 12K miles
Tax = 7%
Depreciation = 10595
Rent Charge = 628
Total of all Payments = $12009
Total Lease cost = $15235.05
Monthly payment w/o tax = $311
Monthly payment w/tax = $333
Also, some formulas you should know and have on hand with you while dealing with Sales and Finance...
Your monthly payment before taxes can be calculated by adding the Depreciation Fee and the Finance Fee for the lease.
Depreciation Fee = (Adjusted Cap Cost - Residual Amount) / Term (36 mnths)
Finance Fee = (Adjusted Cap Cost + Residual Amount) * Money Factor
Ask the salesman to give you the exact Residual Value and Money Factor UP FRONT (assuming you're Tier 1 you'll get the published rate).
Please don't feel bad about providing criticism of this deal or if you have any questions. It can help the next person get a better deal.
#284 of 457 Total Newbie - 2013 SX w/premium
Oct 03, 2012 (6:20 am)
So I am just starting to read and learn about all the ins and outs of leasing. I am looking at 2 leases (1 for me and 1 for my wife) so I am hoping that helps motivate the sales guy.
Looking at SX w/ premium package MSRP 30,825. Could you please tell me the residual and money factor for a 36 month/15,000 lease and any incentives?
I asked the dealer and he gave a vague answer of 56-58% and 3-4% interest. Part of my problem is i have some negative equity in my trade in. I owe 25,500 and they were offering me 22,800 as trade-in but with 2,000 down were qouting me $481 per month
Also looking at a 2013 Sorento EX 4 cyl with Premium plus package MSRP 30,950 (also 15,000 miles). At this point the dealer tried combining the 2 together factoring my negative trade and total of 3k down (1.5k per car) they were qouting 875/month. I need to separate these out so I can more accurately compare what they are offering but it seemed a little high.
#285 of 457 2013 KIA OPTIMA EX/$254
Oct 03, 2012 (8:32 am)
I am new to the leasing thing and do not understand how all of the formula's work that I have seen in some of the answers. I am hoping someone can help me out.
Looking to lease a 2013 KIA OPTIMA EX BRONZE EXT/BEIGE INT.
ADDITIONAL EQUIP :
REAR BUMPER APPL
ALSO HAS AFTER MARKET CHROME MOLDING
HERE ARE THE LEASE DETAILS:
CAP COST $23,550.00
SALES TAX; 543.88
DEALER FEE; 383.50
NET TRADE: 500.00
CUSTOMER CASH 1000.00
NET RESID; 14,481.55
They said the best they can do is $254.72 per month on a lease... Is this a decent deal?
My friend said I should never put any of my own cash down on a lease.. is this correct?
I appreciate any help.