My current lease buyout is $27618 (2022 Kia Niro EX Premium hybrid with 12,700 miles). It has positive equity. I’m looking for a Kia Sorento Hybrid. I’ve also been interested in the Hyundai Tuscon Hybrid and the Honda CR-V Hybrid (which yesterday the dealer chased me out to the lot to offer 1000 down for $606 a month… the non-touring model)
What sort of questions should I ask or what should I negotiate?
I would really prefer 12,000 for 36, but I’m in no hurry to trade out. I just want some more space than my Niro at the moment and better gas mileage than a standard SUV.
So let me get this straight… You have $11,000 dollars in trade equity and you’re letting this dealer play three card monte with it? And they want you to put down at least another $1000 at signing? If that quote includes applying the value of your trade to the deal then almost 400 dollars a month of this payment is effectively your equity plus $3,000 in worthless dealer add ons. The dealer add ons alone add about 90 a month. I’d run away from this one and try somewhere else.
Edit: re: the trade portion sorry, was up watching WrestleMania and I’m kinda slow today lol… 11k, 3k, doesn’t really matter when the rest of the deal is packed with nonsense
These all lease pretty terribly. The % increase in the lease payment is way higher than the % increase of the MSRP over the gas model. It will probably cost you way more than the fuel economy savings.
Between the terrible lease programs and the high resale value of these vehicles, financing might be the way to go.
Plus the opportunity cost. Based on the poster’s entire history being just a barrage of low-effort posts, there’s 0 confidence they maximized their equity.