2020 Kia Sportage SX Turbo lease deal Massachusetts

Ask the Hackrs
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1

Hi Hackers! I’m looking to replace my wife’s expiring Kia Sportage lease, that is approximately 7K miles under the allotted 10K per year. The present lease expires in June, and we’ve found a 2020 Sportage SX Turbo that she likes. We got an offer from a NH Kia dealer:
MSRP: $36,345
Discount: $5,751
Adjusted price: $30,594
Fees: $1,184
Adj Cap Cost: $30,731
Residual value: $22,534 (62%)
Total due at signing: $1,525
The remaining May, 2020 payment would be waived/taken care of by the dealer.

Monthly payment (for a 36 month lease, for 10k miles comes to $341.35, with Zero money down)

Can we do better in the present Covid-19 environment,
or is this a good deal? We Are also aware that an extension of the present lease is an option to us.

Thanks for your help!

2

No it’s not. Hyundai Financial holds your lease, not the dealer. The dealer will roll the remaining remaining payment into your new lease.

Personally I’d wait a month. You’re under miles. Get a pre return inspection done and plan to lease in May. You will have all month to line up a deal and can even sign early but not take delivery until your current lease ends.

And in the meantime, study leasing and how to get a great deal. You need to break out the incentives portion of the discount and ask for the MF, which needs to be compared to the base rate per Edmunds forums.

3

Thanks Chris. The money factor is high at .00179. (4.3%)

4

This probably includes all incentives. You have to find the incentives from Edmunds forums