2023 Kia EV6 Wind RWD LR $674.22mo 15K miles and $674 DAS

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1

Any opinions on this deal…

Trading in a 2022 Niro EV EX with a trade value of $27K. The lease buyout on the Niro is $25,836.

The selling price of the EV6 is $49,113. The dealer is 4 hours away so I will meet the dealer somewhere in the middle to do the exchange of the Niro and EV6. All that is due at the exchange is the first payment of $674.22.

Further details
36 Months
15K miles
$7,500 lease cash
MSRP is $51,960
Selling price is $49,113
MF is .0034
Residual is 55% = $28,305
Trade quity is $1,164 and used as downpayment
All other fees and taxes are also rolled into the lease
Due at signing is just the first payment of $674.22

2

Way too little details to judge. Post your calculator link.

Kia may eventually start passing the $7500.

3

Hey @Chris_Birkhimer, what’s the MSRP, discount, rebates (and MF and RV if you know)? Also, assuming you rolling in trade equity worth $11xx into the lease?

4

15k mileage term?

5

Duh. Thank you! Fixed my post :smiley:

6

I updated the post

7

Yes it is 15K miles and 36 Months

8

I updated the post with further details and link to the calculator

9

I think this deal is quite reasonable if you specifically want an EV6.

Edit: if you actually consider carrying this to full term, I might consider buying this out because the MF is high (not sure if it was marked up). But buying out in VA is quite complicated so might want to factor that in as well.

1 Like
10

I am leaning that way for the car specifically. I like the electric Niro I have now but I like the extra range and quicker charger the EV6 provides. Plus the EV6 has some minor things I like the Niro doesn’t like auto-dimming rearview mirror, dual climate, rear-seat USB (we have 2 kids). Not sure of any other electric car that has these features, with this range, and charges as quickly for long trips for this price range.

11

What you mean the buyout in VA is complicated?

Anyway, I usually only keep a 3 year lease for 2 or 2.5 years and then I trade in early on a new lease. It seems the cars I have leased have had positive equity in them before the lease is over so I trade it in early and use that as a downpayment on a new lease. That is why I am doing now. The trade value isn’t as good as I thought based on KBB trade value. I am trying to get the $27K trade value a little closer to $30K since that is what KBB has it listed at.

12

I actually owned one and it was a great car. No doubt about that.

I think the high MF is pushing up the monthly payment quite a bit. Hell, some people were getting an EQS at just a bit more effective monthly.

Did you consider Model Y?

2 Likes
13

Not a VA expert, but I believe if you want to buy out a lease without paying the sales tax again, you have to work with the dealer who leased it to you. But not 100% confident. Please double check yourself.

14

I think, the high MF and lack of more incentives/rebates make these cars unattractive lease candidates.

But, if you are set on this car ( l like it myself), if you don’t plan to keep it for long and if you can afford it, why not? May not be a sound deal financially but if you are happy, that’s what matters.

15

I looked at the Y but since the Niro I am trading in is currently in a lease I can’t trade it into another dealer besides Kia.

16

Have you tried to get offers from other dealers, carvana, vroom, carmax, rodo, equityhackr etc to see if you can get a similar trade deal? It will open up more possibilities for you. Honestly, losing a bit on trade and getting a better deal on a comparable vehicle would be better than getting positive equity and rolling it into a bad lease.

17

I am stuck with Kia though. I traded in my previous lease early to get my Niro and it was a Kia Seltos lease. I went to Carmax and a Toyota dealer to see the trade value. They gave me a good value but both places said they could not accept the trade since it was a Kia lease and somewhere in the lease details it says Kia won’t allow a current leased car to be traded in to another dealer except a Kia dealer.

18

I just did a price check at carvana and vroom and they came back with really low trade values. They were both between $20K-$21K. No where near the KBB value or the trade offer I got from the dealer

1 Like
19

Sorry if I’m stating the obvious but you can sell it to a Kia dealer without getting another Kia lease. Even separating the deals between two different Kia dealers might yield better results.

20

I thought of that also but the local dealers in my area are horrible, that is why I look far away. The dealers in my area will just buy out my lease for the buyout price. At least in the offer I got there is some equity in the trade. I am looking at 2 dealers right now that are giving me the best trade value of $27K. One is 4 hours away and the other is over 2 hours away. The one 2 hours away will deliver the car to me and the one 4 hours away wants me to meet them halfway since it is so far away. They are valuing my trade at $27K based only on pictures also.