2021 Kia Niro EV EX - help assessing

I have never leased, wondering if this is a good deal:

“2021 KIA NIRO EV EX Lease. Stock# K08071. MSRP of $41,635 less $2,735 Dealer Discount, $10,500 Kia Lease Cash and $2,500 Oregon DEQ Clean Vehicle Rebate. Cap cost of $38,900.00. Cap cost reduction of $2,711.00. Total due at signing $3,817.50 includes $69.00 first month payment, tax, title, and license of $843.00 and $194.50 Oregon privilege tax. Tax, title, license fees are estimates only. Monthly payments of $69.00. 24 month lease term. Total lease charge of $5,404.50. $0.00 Security deposit. Residual of $24,148.30. Acquisition fee of $650 IS included. On approved credit, min 750 FICO score. Based on 10,000 miles per year, excess miles charged at $0.20 per mile. Early lease termination fee may apply. $400 disposition fee.”

I tried to enter the numbers in the calculator, but am VERY confident I did not do it quite right!

Why do you have such a high DAS?

I took that from the fine print language: “Total due at signing $3,817.50 includes $69.00 first month payment, tax, title, and license of $843.00 and $194.50 Oregon privilege tax.”

It’s ok, but also look at a Hyundai Kona , it leases for Less and comes with most features.

It’s not horrible. I would take out the $2711 down payment (cap reduction) and just do the drive off for the taxes, fees, 1st month, etc. Monthly will go up, but at least your DAS is lower and you are not putting anything for cap reduction.

Wait, what… ‘privilege tax’?

New Car Tax in OR, yes the name is silly.

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Advertisements are a terrible place to start. Look at Shared Deals and Marketplace sections on this forum

As a rule of thumb, if it’s an advertised deal, it isn’t a good deal.

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Who is John Galt?

Hello and welcome. The best way to get a good deal leasing is to educate yourself on the numbers and the process. AND right now (Summer 2021) is a terrible time to lease, with inventory shortages and dealers holding firm on prices. As Matt said, the advertised deals are not even worth your time to read.

The best place to start is

Please read links in there such as “how to calculate payments” and other helpful articles.

It might seem like a lot but TBH there are fewer <60 minute exercises which will save you so much time, money and anxiety over your driving lifetime.

It may also save you (after your negotiations with LH input) inside the finance office where no one can from the internet can really help you.

Remember, it’s almost impossible to reverse-engineer the math starting from the output (monthly payment) and figure out if it’s a good deal. Start at the beginning.

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