I have a Kia Optima EX Hybrid, with Tech package and white interior as well as cargo net at an MSRP of $36935 with the following lease structure:
$750 Out the door (including first month payment)
$356 monthly payment
36 months / 10K miles per year
I’m inclined to believe that this is a decent deal. What do you think?
Using Kia’s calculator I get the same car for same money OTD but at a price of $472/mo.
I ended up passing on the deal, but I have yet to find anything remotely similar.
Really need more info. Year, residual, MF, rebates, and most importantly the sale price (dealer discount).
There is at least 8500 rebate for 36 month. I would assume that you could get the sale price lower than what you had it for those numbers. I’m working one now as well, if they bite I should shouldn’t be higher than 260 for the same car
Do you know where I can find info on that rebate? It isn’t listed on their website.
insert zip here, incentives vary by region:
https://www.autobytel.com/kia/optima-hybrid/2018/incentives/
Thanks! I had never checked this. Great tool to have.
So I’m seeing the following for the Optima Hybrid EX
Bonus Cash: $2,500
Stand Alone Cash: $2,000
MKF Lease Cash (24 months): $7920
This totals $12,420.
Is this correct? Can these be stacked in this way?
A car with an MSRP of $36,935 instantly goes down to $24,515 for a 24 month lease, if this is the case. Sounds too good to be true?
sorry, but they don’t stack (or that car wouldn’t be available)
purchase: either the 2000 or the 2500 depending on what financing you use (plus discount from msrp)
lease: the lease cash only (plus the discount from msrp)
Nice! where are you located? low residual and high MF seem to make hard to get a good deal…
Thanks. So initially I guess we can go from an MSRP of $36,395 down to $29,015 just by using the KIA lease cash for a 24 month lease. At the money factor of 0.00223, I’m still looking at $935 drive off and $448 monthly payment which, in my opinion, seems to be high for a Kia.
What should I be aiming for in terms of further MSRP discount to bring this down even further?
As I said in my first post, I had gotten $750 drive off and monthly payments of $356 (tax included) for 36 months. I could live with those numbers if they were for a 24 month lease (which is what I want), but I’m not sure I want to pay this for 36 months for this car.
Is my expectation crazy/unreasonable or should I keep working on this until I find a dealer that likes these numbers (750 drive off, 356/mo, 24 mo, 10K per yr)?
Hey Jay. I’m in Los Angeles.
Why not look at a 36 month. RV isn’t drastically different. I would say at least shoot for 10% off
why this kia optima hybrid vs hyundai or other cars?
why only 24 months?
are they taxing the 7920? that hurts
my point is that there are very active brokers on this site from SoCal (Toyota, chevy, VW) but not Kia (unless i missed them). The new Accord Hybrid is also just starting to build inventory (but Honda lease terms still suck on the new Accords).
I have an issue with long-term commitment 
In all honesty, technology is evolving so fast in cars that I would like to refresh more often. I find that 2 years is the sweet spot for me, particularly because I can get out of the lease for less money if I ever need to or want to by just paying off what is owed. It is better to have a payment liability of 24 months or less than one of 36 months or less.
I checked out the Optima Hybrid EX and found it to feel of a more premium quality than the Sonata (I haven’t been in a Sonata Hybrid, but have been in a Sonata). Hyundai would work best for me as I would avoid the disposition fee of my current Santa Fe which is ending soon.
@Clemwald would you shoot for a 10% off even after the Lease Cash? So shoot for $26,114? If so, using this site’s calculator, I get a drive-off of $811 and 24 monthly payments of $324, including tax, for 10K per year. These are numbers that I can definitely live with and would sign.
Part of my problem is that I’m not very experienced in all this, so it is difficult for me to get a benchmark of what is reasonable for both parties vs totally crazy.
Acc. to the edmunds mod, Kia does not do 10k on 24 months (only on 36 or higher); did the KIA calculator let you choose that?
10% off msrp on that higher end model should be doable. MF is not favorable
I understand your commitment thing but 36 months is the sweet spot for most leases. Paying that 650 acq fee and 400 dispo fee every 2 years instead of 3 can add up. Not a problem if you’re loaded
I’d also add, that for 350 to 400 a month, there are some more upmarket models available than an Optima hybrid.
You are correct. It will not let me do that. I can only do 12K. I can pay that difference.
So the 10% off MSRP does not include the incentive right? If MSRP is $36,395 I should try to get it down to $32,756 and then apply the $7,920 Lease Cash discount leaving me at $24,836?
@cheapdad00 Can you provide some examples of what upmarket models can be had in this payment range?
Thanks again everyone for schooling me on this. I’m learning quite a bit.
msrp - discount - lease cash + acq fee = net cap cost (tax and dmv are separate)
I assume a high tax rate?
from your edmunds link:
EX
24/12 - .00223 and 50%; $7920 lease cash
These terms are not favorable for leasing.
Here are a couple of threads on it: