2016 Optima EX Hybrid 24/12K $250 residual 55%? 0 down

Hey guys,

I landed on what seems to be a pretty decent deal on a fully loaded 2016 Optima Hybrid EX but I think I can try to squeeze a better deal. So far, they priced the car around ~$35,000 fully loaded, reduced the cost down to $29,110 before incentives, and there are $7,000 in incentives for my 24 month lease with .00011 MF. I think the reasoning behind their offer is that the 2016 hybrids are being updated going into 2017. Anyway, they quoted me a residual of 55% after two years, and I am thinking that they could inflate the residuals a bit more since the lease is only for two years. I am wondering which arguments I can make to lower my price down further?

I personally do not want a hybrid, but there is only a difference of about $30 for a 2016 Optima EX which has about 5000 in lease cash (2016 new revamped model) vs. a fully loaded EX hybrid (older 2015 exterior & limited rear seat style) so I thought I should just opt for the better value. IS it a better value?

The residual is set by Kia. The dealer cannot inflate it

1 Like

There are a couple of threads already on here about the Optima Hybrid. Read through them to see how others got to that price or lower on the EX.

1 Like

Thanks for the replies. My EX hybrid fully loaded deal is similar to another deal on the forum for about $250/mth net of all taxes and fees with 0 down. However, I believe that he received a higher MF along with a lower price before incentives of about $600. I am going to try to wiggle my way down to $230 a month since my timing seems to be good with july ending and the new 2017 models coming out soon. Although the deal is nice, I wish I could get the newly updated 2016 optima body for the optima hybrid… but that update is going go in place for 2017 hybrid models so I guess thats the reason why they are willing to lower the price by almost 24% off msrp before incentives…

** EDIT **
I spoke to the sales manager and she told me the offer was for a EX Hybrid with convenience package (not technology package) so that kind of brings me back to reality. Its more like a 12% off msrp before incentives… I am going to try and get it up to 18-20%… if you guys have advice, let me know! I am signing on Sunday so I’ll post the results!

Try to push and get around $230/month.

My deal comes out to $230.13/month. Here is how I came up with it.

$1500 down including first month payment (shouldn’t have out down but I am learning )
$174.92/month * 23 payments = $4023.16

$4023.16+$1500= $5523.16

$5523.16/24 = $230.13/month

Hey llomll,

What was your % off the MSRP? I was offered 12% off the EX with convenience package MSRP of $33,170 which lands me around $250 a month… I really would like to try and get $230 a month with the same or even better technology package which has an MSRP of $36,000. I live in LA.

There is no EX with convenience package. These are the basic configurations of the Optima Hybrid, other options are things like wheel locks, or cargo nets.

Base Hybrid $26-$27K
Base Hybrid with Convenience package $28-$29K
EX Hybrid $33K
EX Hybrid w/Tech package $36K

llomll got the EX Hybrid for $29,430

Meanwhile I’m sitting here trying to work the 3 cars in my state lol

Woops you are right. So my saleslady is giving me the EX hybrid for $29,110 but the monthly is coming out to $250 (all inclusive) with 0 down 24/12K,

Edit*

Additional information: 7k incentive and .00011 MF which is roughly .24% APR. If they are not willing to bring my Pre-incentive price down by another $30/mth so another 1k off the sales price, I will look to lease a standard lx for 165/mth 0 down.

I spent a few hours today visiting three different KIA dealers and here is my best offer – thoughts?

MSRP: $36,000
Cap Cost: $25,600

End result: ~$230/month with $3,000 due at signing to cover all the fees.

Fees:
Acquisition Fee: $595
Document Fee: $395
Taxes: $1200
DMV Fees: ~$300

Question: Should I be taxed on the $7,000 lease incentive?

What do you think of this deal? This is in NY so taxes are due upfront but should I roll everything into the payment since the MF is so low?

$230/mo sounds amazing for the fully loaded Hybrid EX, but those $3000 in fees puts your effective payment at about 355/mo assuming a 24mo lease.

What was the sale price of the vehicle? Those listed fees look unavoidable, so it really comes down to sale price and money factor.

Selling price $32,600 and the money factor .00011

The only way I can get it down is by lowering the selling price but I am not having any luck and this is the best I have managed from three dealers.

It’s a pretty great deal considering the MSRP on that car, but others have posted about being able to get more than 10% off. I would play the dealers against each other by emailing the two salespeople who came in higher priced an asking if they would be able to beat the quote from the third dealer.

There’s not much you can do about the taxes. I would assume the people in the finance office know what they’re talking about since they deal with it every day.

I was able to procure a lease at $230/mth 0 down for an optima ex hybrid :slight_smile: very happy with the car. Except, the only complaint I have is that it accelerates slowly on ECO

I think that’s the point.

Great deal – can you share the dealer and sales person ?