Last post on Sep 01, 2013 at 7:55 AM
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Kia Optima, Car Buying, Car Leasing, Sedan
Jan 27, 2013 (6:15 am)
Hi ihitcows. Kia Financial Services' January buy rate lease money factor and residual value for a 39-month lease of a 2013 Optima SX with 15,000 miles per year are .00090 and 53% for consumers who qualify for its top credit tier.
Kia is currently providing a $1,000 cash incentive on leases of this car.
Prices Paid: Buying & Leasing Experiences Forum
#371 of 457 Re: 2013 Kia Optima SX-L Jan Buy Rate [dimsumlo]
Jan 27, 2013 (6:17 am)
Hey dimsumlo. Please see my previous post for the information that you're looking for.
If you were to lease with only 12,000 miles per year, this car's residual values would be 2% higher.
Prices Paid: Buying & Leasing Experiences Forum
#372 of 457 Re: 2013 SX-L [Car_man]
Jan 27, 2013 (6:34 am)
Hiya. Thank ya for the reply!
I had inquired for my bro, who just leased the car a few days ago. And, happily, your figures coincide with his deal's.
ALSO! Wanted to letcha know, the $1,000 incentive is for the LX and EX.
The SX gets a $2,000 incentive.
His previous car also picked up a $1,000 competitive car thingy incentive.
#373 of 457 Re: Optima Hybrid Deal [theras]
Jan 27, 2013 (7:48 am)
Picked up an EX base yesterday. 39 months, 15K miles/year, $0 out of pocket, 38 payments to go.
Selling Price Before Incentives: 23,191.82
The payment is much higher than you might expect because we elected to keep $2,000 in rebates, (loyalty and lease cash), using only the $500 auto show rebate in the transaction.
As I've said in previous posts, our '12 Optima EX was totaled. Our insurance paid KMFC full market value for the car, which was over $2K more than payoff. Legally, KMFC isn't required to return the difference, and they play hardball, folks (Lexus and some other manufacturers acknowledge that they are also entitled to keep payment in excess of the payoff amount, but don't do it as a matter of customer relations policy).
So, this time, instead of using the incentives to "prepay rent" as KMFC put it, we will just pay about that same amount over the term of the lease, at the low lease rate. Should the car get wrecked - and don't think it can't happen to you - we may be upside down after primary insurance, but KMFC provides gap for that. They played the "it's our car" card when it worked in their favor, it can be their car in the negative equity situation if it happens again.
Will post on the "buying experience" aspect when a "we owe" is fulfilled and the rebate money is the bank. Hopefully, we will have a great story to tell...
#374 of 457 New 2013 Kia Optima SXL on 39 months 12,000 Miles Lease
Jan 29, 2013 (12:36 pm)
OK! Thanks car_man! It is time for me pay back!!
I just got a 2013 Kia Optima SXL in SoCal area 01/26/2013. I got qoutes for more than 10 dealers around the area and they were very aggressive!! I believe I did good on the deal. All communications via email and total spent less than 3 hours at the dealer.
- Rear Bumper Applique
- Cargo Mat
- Cargo Net
- Cargo Tray
- iPod Cable
- Wheel Locks
FREE: All-Season Floor mats
Gross Cap Cost: $32,292 before $3,000 incentive
Selling Price: $29,292
Capitalized Cost Reduction: $3,000 ($2000 competitive bonus + $1000 Kia Financial incentive on leases)
Money Factor: 0.00090
The Residual%: 55%
Residual Value: $19,609.70
Term: 39 month 12,000 miles lease $0.20/miles additional
Monthly Payment: $308 + Tax
Due At Signing: $0 + DMV Title/Tax/License + Upfront tax (on $3,000 cash back) + Docuemnt processing charge + First month payment
Acquisition fee: $0
#375 of 457 Re: New 2013 Kia Optima SXL on 39 months 12,000 Miles Lease [dimsumlo]
Jan 29, 2013 (12:45 pm)
Looks good on the surface. Hopefully, the CA fees didn't screw you too badly. The maximum doc fee in CA is $85. Is there a $400 disposition fee?
#376 of 457 Re: New 2013 Kia Optima SXL on 39 months 12,000 Miles Lease [pegasus17]
Jan 29, 2013 (12:58 pm)
I wish.. but CA fees is very crazy!! Yes! There is $400 Disposition fee at the end of the lease if not purchase the vehicle) Here is the break down!
Registration Fees: $310
CA Tire Fees: $8.75
Electronic Vehicle Registration/Transfer Charge: $29
Document Processing Charge: $80
Upfront Taxes (on $3,000 cash back): $277.20
CA Tax Rate: 9%
so sad..... all to Uncle Sam!!
#377 of 457 Re: New 2013 Kia Optima SXL on 39 months 12,000 Miles Lease [dimsumlo]
Jan 29, 2013 (1:28 pm)
Actually, some of that goes to crazy Uncle Jerry!
I put your numbers into a lease calculator and got 308.06 using 0% tax rate. That included the mandatory $595 acquisition fee from KMF.
#378 of 457 Re: 2013 Optima SX-L lease information [bsc1114]
Jan 29, 2013 (1:55 pm)
How did you negotiate such a great deal? What was the final price of the vehicle going into the lease agreement? I'm trying to purchase this week. Thanks!
#379 of 457 Kia lease incentives
Feb 12, 2013 (8:56 am)
Your web site lists two different lease cash bonuses for the Optima. One is 1000 and the other is 1500. Which is correct?