Hi all,
I’m new hear but have learned a lot already. I was going to purchase a used EV but then got sucked into the leasing options due to great deals in the Spring that are pretty much gone now. We like the Kona EV and have received this offer. I wondered if you might be able to provide feedback on what it looks like and what questions to ask:
2021 Kona EV Ultimate
$249/mo plus tax 36 MONTH LEASE
$4,999 Customer Cash down + $10,750 Lease Bonus Cash + $1,500 CCFR for a total of $17,249 due at signing. $0 security deposit; plus tax and license. Lessee responsible at lease end for mileage in excess of 10,000 miles per year at $0.20 per mile thereafter.
Your payments will be approx $273.00 including tax per month
msrp $47,180.00
mf .00102
residual $24,061.80
How does this look to you? I considered the Limited trim but the price is only $10 a month lower. Any suggestions are welcome. BTW, I’m based in NorCal
You didn’t get offered anything here… you got spoonfed the manufacturers advertised lease special.
The problem with it, like most, is that “plus tax and fees” asterisk. They’re showing the tax included in the monthly but they haven’t included the tax and fee amount up front. You get the pleasure of paying sales tax on all $17249 due at sale as well, so take that $5k down and add another $2k on top for the missing taxes and fees.
Thanks for the feedback @forbs I can wait a couple of months but ideally want it by end of September. Is there a sense that things will get better soon? I have been reading that things will be bad for a while. A broker offered me $2000 down and $370 a month on a limited so it comes out more expensive in the end. Thanks for the input on the taxes @mllcb42, I had a feeling the price would jump but didn’t realize the issue of the tax on the full $17249
I got another offer for a Kia Niro
$41,815 sale price
$12,200 in incentives
36 month lease
10,000 miles per year
$2000 drive off
286.83 per month before tax $311.57 incl. tax
My calc is that this is a little bit cheaper but it’s the base model and my wife want’s a more premium trim.
Couple of brokers here offering the Niro EV Premium ($45k msrp) for $2k das and $284/mo+tax. It has more passenger space than a Kona and more overall cargo space. The premium also has adaptive cruise and rear vents. I like the smallness of the Kona, but my kids complain every time they get in the car about it not having rear vents.
@4sallypat My wife isn’t crazy about it. We found a good deal on an Ioniq, 0 down and $251 monthly after tax which is the lowest so far. She liked the Kona more. @Chi_Ahrens the Niro Premium is an interesting option. Do you happen to know which brokers offered that?
The Niro Premium is a slightly larger car than the Hyundai, so if you like 2 more inches of room for less money it’s the best option. BTW It’s a 2020 that’s why it’s cheaper than the Ultimate.
Note : the Backup VESS on the Niro is about 10 times louder, so you will want to unplug it.
Some things I’m unclear on:
-I’m not sure what to enter for the “selling price” or how to get that figure
-Is Lease cash entered as “taxed incentive”?
-Do I capitalize taxes?
We checked out the Kia Niro EV and wife didn’t like it as much as the Kona. The extra size is nice but we have a back to back garage setup so smaller is helpful. The interior finishes on the Niro feel cheaper and she highly dislike the blue striping. Back to the drawing board. I think we are stuck with the Kona but there doesn’t seem to be a lot out there in terms of deals for that. I’m debating whether to bite the bullet and at least work down the cash up front or wait a couple of months. I just worry that things may be even worse in a couple of months.
