2021 Kia K5 EX w Premium Package Deal Check

SE Michigan

Kia K5 EX + Premium Package
MSRP $32,605
Selling $31,605 (3.1% discount)
MF 0.00113
Residual 60%
12k/36mo lease

The dealer offered an extra $500 on an already-fair trade in, so if you consider that as discount from the MSRP it’s effectively a 4.6% discounted selling price total.

Thoughts? I think this is probably not a “unicorn deal” but seems fair for a new model.

Not enough information on this, what is the monthly payment?

3.1% doesn’t seem aggressive at all, if you do a quick search on what others have gotten, this doesn’t seem good. Have you confirmed with Edmunds that the MF is buy rate?

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Should have just put it in the calculator before I shared. Here:

TrueCar shows discounts 1-3% as “Great Deals” and 4+% as “Excellent”. I think this may be partly due to it being a new model. It may be partly due to there not being a ton of room between invoice and sticker (neglecting holdback I know)

So… you left out the fact you are putting 4,500 down payment on this making your effective payment $407 for this car. This is a big no no and a horrible deal.

Never put down payment on any car as if you total it, you will lose it. I recommend searching in the forum for this car and see what others have gotten for this car, I assume you could probably get this in the high 2’s to low 3’s.

Also your calc looks wrong, the 1,520 lease cash would be taxed

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I’m aware of the risk, but the $4,500 down is all trade-in. Can you share any links if you’ve seen other topics? I searched Kia K5. I didn’t see any EX trim specific threads, but on GT-Line trim I’m also seeing 2-3% discount

Not arguing, if I’m wrong I want to know, but I put 1520 in untaxed bc it’s a manufacturer-to-dealer rebate

Again, why are you trading in a car with 4,500 equity, have you tried to price this elsewhere on a 3rd party site to see if you can get a better deal?

This is a different state which probably makes a difference in terms of taxing but may give you a ball park of what to expect

2021 Kia Forte EX
24/12k 2k DAS $179 plus tax (w/ loyalty $159 plus tax)
36/10k 2k DAS $175 plus tax (w/ loyalty $159 plus tax)

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Negative equity? I’m not sure what you mean. I own it outright. It’s just a cheap car with high mileage… Ford Fiesta. I’ve done my research on the trade-in and it’s very fair. Of course private party would be more, but tbh I don’t think the effort to sell is worth the difference

The link you posted seems very close to what I posted? Mine has a $3,400 premium package above the base EX. If I lower the MSRP to base EX, apply the same 3.1% discount, and change the down payment to $2,000 they seem pretty comparable for different states.

What am I missing??

If I remove your 4,500 from the deal, it puts you at ~400 per month. Honestly don’t think this car leases well. But get what you want, just giving my opinion.

If you are set on this car, then I recommend having your trade-in done separately. Ask them for a check for 4,500. That way it isn’t treated as a down payment

Understand, and I’m not trying to be confrontational. I appreciate your input. Their calculator should include $2,000 down for that deal though right?

Is the reason you would take a check and $0 down payment purely in case of a totaled vehicle?

@frosty42 - Fyi, Due At Signing (DAS) is not the same as a down payment. In the deal @dloco posted, it shows 2k DAS (which usually covers first month payment and fees). Do you plan to pay any fees upfront or are you just going to roll everything into the monthly?

I do agree that you should ask the dealer to cut you a check for the $4500.

Yes. If the car is totalled all that cash is gone.


Thanks @Bluemkn57cars. Do you have any advice? I was planning on rolling the fees into the monthly

As far as the deal itself, there have not been a lot of K5 deals posted. On the surface, the discount looks pretty weak, but again I am no Kia expert. You could counter with 6% off MSRP and “settle” at 5%. I understand this is new model, but have you confirmed on Edmunds whether there are any incentives?

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Is the dealer hiding the lease cash from you?

lol that’s actually me on Edmunds! The dealer has it listed as a separate line item

So basically I’m getting $1,500 between selling price and negotiated extra trade-in money
There’s another $1,520 beyond that of lease cash

Can you adjust your calculator by removing the down payment and including the lease cash as a taxed incentive? I suspect your pre-incentive discount would be much less than 3%. If that is the case, I would reach out to more dealers in your area.

Run! Deal sounds awful, post a deal sheet, not enough detail to know what’s going on

I didn’t post the sheet bc there were so many changes. Here’s the edited one

@Bluemkn57cars this is how the calculator would look

Even at 10% off, which who knows if they’ll do that, you’re at $328/mo with just first DAS. I would talk to more dealers and see what they quote you. I feel like Kia is one of those brands where you want to shop them the last week of the month, I think volume bonuses are a big for those dealers(was the case in the past). They’ll want to hit a certain number for the bonus and take a loser deal towards the end of the month.

Am I correct that if MF, residual, and lease cash are correct, the only difference dealer-to-dealer will be selling price discount? I feel 10% is totally unattainable, but maybe I’ll shop to see if I can get larger than 3-4% discount.

I’ll let the first dealer know I plan to shop, and if the other dealers quote similar numbers I’ll come back to them.