Hey everyone, I’m in my 40s but I’ve never leased a car before and only ever bought one brand new car in my life (back in 2001). Most of the used cars I’ve bought have been from private sellers or at such a low price there wasn’t much negotiating.
I’ve been reading these forums (and a few others) for a few days, and I’ve learned a lot but still feel like I’m going to walk into the dealership and get completely screwed.
It was actually an ad on the radio for the $199 lease deal on the 2018 model that got my wife to agree to let me look, but it seems like none of those actually exist. I’d like to find a way to get the 2019 closer to that $200 mark. What I’m looking at is the 2019 Kia Sorento, LX FWD 4 Cyl. Kia.com shows that it’s currently $219/month for 36 months, $3644 due at signing for the LX with an MSRP of $28,480.
First, there are only 2 Kia dealers in the immediate area (north Delaware, it’s a 45 minute drive up to Philadelphia which would be my next stop) and neither one has anything listed at the MSRP.
This https://www.martin-kia.com/new.cfm/vehicle/2019-kia-sorento-lx-5XYPG4A38KG443469/ is the closest I find, and this has everything I would want. So I went to the calculator on this site. I haven’t been to the dealer yet so I haven’t discussed any actual pricing, but I’m using the MSRP they had listed, and I’ve read to shoot for 10% off that as the sale price (is that accurate?).
I don’t know what to enter in for the incentives. There’s a tab in the listing that shows them all.
There’s lease cash, customer cash, dealer choice bonus cash, and the military appreciation (I am a veteran)…I’m not sure which ones would apply and can be used together. From the wording it looks like just the lease cash and military.
This got long and I think I’ll have even more questions as I go. Thanks in advance for any help you can give me in keeping my brain from exploding.
Edit to add: I would rather do 24 months than 36, and from Edmunds I was told that it’s currently .00240 MF and 59% residual for my area.
Run through the build for your exact model. At the end you will be given a payment calculator showing the lease cost per month with the available rebates for your zip code. Add the additional 400 for your Military service (thank you by the way!) You can then use this as a baseline. Add in your expected or planned discount, and you will have a pretty good idea of what the lease is going to cost.
There are also a few brokers on here that sell KIA’s, so don’t forget to check the marketplace, for possible deals.
You may need to research more to know how to calculate the price correctly and include all the rebates you may have. And you can discuss with the dealer with email to confirm everything before going to the dealership. I also suggest you considering other cars with similar payment (so that you have more choices). Here are some examples at ~$200 range with only first month payment at drive off and you can search in this forum to find more: Hyundai Sonata; Buick Encore; GMC Terrain; Subaru Impreza; VW Jetta, Passat;
Or to make things easier, you can find a broker in the forum and hire them to help.
Good luck!
The 3rd row seating is the one and only option that’s a must have, and I haven’t seen anything else with one in this price range since they got rid of it on the Rogue. I’ve heard nothing at all good about the Outlander, and sort of mixed reviews on the Journey (and I don’t really like the look of it) Is there any other option I might be missing for 7 passengers at this price?
Assuming that $3644 due at signing is all that is due, which I doubt, the net effective for your $219 KIA, is $335.
Probably not realistic to be setting prices you think you are going to get at this point. As mentioned, you will need to do some research to determine what cars fit your requirements, and what the bottom dollar lease looks like for said vehicle.
$200 with zero drive off is probably pie in the sky for a bare bones 7 seater SUV. I would be very flexible, if I was you, and look at some other brands to find a car you can live with. I would also revisit that budget for a 7 seater SUV.
Take a look at the Chevy Equinox. I have seen ad’s in the market place this month that are in line for your budget.
The Tiguan looks like it might be an option. They’re advertising $189/month with $2999 due for the S FWD. The nice thing on this is the 3rd row is standard in the FWD, but is an option that costs more in the AWD.
My location kind of sucks. I’m in Delaware, we have 1 VW dealer in the area and 2 Kia dealers. I have to drive an hour into to either PA, NJ, or MD to find more.
I am currently trying to lease my first car, and I am also looking at the 2019 Kia Sorento. Please note I have also never leased a car before, so this exercise is as much for my benefit as yours to see if I have learned anything from hanging around here for a week.
I plugged in the MF and RV you provided for the 24 month lease with 1.93% tax. (I’m not sure how to add the 4.25% up front tax) The doc fee and registration are what I would pay in PA. The untaxed incentives include $5,920 from Kia for 24 month lease + $400 for veteran’s discount. You can play with changing the sales price to see what kind of discount off MSRP you might need to get the payments you want.
Good luck. If you do make it up toward Philly area, I had a great time test driving a Sorento with Amber at Cherry Hill Kia.
Where did you get 2% tax? Isn’t PA something like 9%? Pretty sure it’s 4.25% in DE.
But thanks for plugging those in, I was messing around with the calculator and I can get it to numbers I’m comfortable with, I just need to convince a dealership of those numbers.
I also heard back from someone at Garnet VW in West Chester, and might have the start of a decent deal on the Tiguan. They’re advertising 179/mo for the S 4motion.
We have a 2018 Tiguan with the third row, and the manual actually states passengers that sit there should be under 5’3" I believe. So it’s ok if you have younger kids, but not practicable for teens or adults.
Of course the dealer didn’t point that limit out to us…
Install the honcker app and see what you get for offers. Even if you don’t use the app to lease the car its a great tool to compare lease deals against. Once you have some idea of what a decent deal is, consider hiring a broker. If you are hell bent on doing the deal yourself you are going to have to cast a wider net. Email dealers within a 150 radius and once you have a good eal be willing to drive to get it. Otherwise you are going to limit yourself too much.
I do also recommend you to hire a broker since it is your first time. I am not a broker but believe the amount of work that they provide to save you money really worth the broker fee.
My oldest is around 5’4 (and probably not getting any taller than that), but she won’t be shoving back there, just the youngest two. How is the cargo space behind the 3rd seat? I don’t expect much, but is it adequate or way below?
This sales guy I’m talking to on the Tiguan has been willing to give me all of the info I asked for, he’s actually the first and only person so far that hasn’t just sent me a generic “when can you come in and look?” response.
This is what it’s looking like so far:
"The Tiguan S 4motion 3rd Row has an MSRP of $27,665.
For 3 years/30,000 miles the Residual is 59%, option to buy at end of lease is $16,322.
The Money Factor is 0.0005.
You can qualify for both Gollege Grad and First Responder programs. Delaware taxes work a little different. They charge 4.25% of the total price of the vehicle and 1.93% on the monthly payment.
Here is a breakdown of what you can put down and what your monthly payment would be.
$519 down (first payment & Temp Tag) = $283
$1000 = $269
$2000 = $240
$3000 = $210
$3959 = $183 This is how the add is written, putting down first payment, temp tag and tax."
The only thing I’m not liking so far is that he mentions since I live in DE, they would charge $195 temp tag fee and I would register it myself after that. I looked it up, and I can pick up a temp tag myself from the DMV for $20.
I’d say its adequate for daily use - groceries, etc. For our next summer vacation though I’ll be buying a set of crossbars and a rooftop carrier for sure! Your best bet may be to take an empty suitcase or two along to the dealer (or other items you may need) and see how they fit! I wish I had done that years ago when I got an Imprezza hatchback… on our first weekend trip with it realized I had to fold down the rear seats just to fit a suitcase!
Justin
Yeah, I had found the 4.25% first but didn’t know about the 1.93%. Not sure how to figure that out. Maybe one is on the monthly payments and the other is added to registration?
