2023 Niro Wind EV Lease in Michigan

Ask the Hackrs
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1

Hello all,

Basically 0 DAS and monthly payment of $325.
I think it’s a good deal since the dealer discount was $5k on msrp.
Comments please. thanks.

1 Like
2

take it and run!

3

Thanks!
Trying to figure how to use the calculator and calculate a single-pay lease.
Do you know how to do that?

4

if everything else is right, you should be able to remove the disposition fee and the Total cost should be your onepay. you have to adjust the MF with the single pay discount as well

5

I’m also in Michigan. I’ve gotten prices of $385 and $345 with same parameters so that’s a good deal IMO.

6

That looks like a good deal. Just out of curiosity did you check a 24 month lease to compare?

7

I don’t show Kia offering a 24 for the Niro

8

I asked for it initially but didnt follow thru since i think it’s better with going 36 months so you can spread that acquisition cost more.

But i am checking on the single pay lease rates right now, and will sign sometime today i believe. its not too common. so they’re kind of checking it.

9

Yes I just checked edmunds and a 24 month lease isn’t supported. Hopefully Kia does one pays not sure if they do or don’t. Good luck!

10

one-pay they do it. i saw it on some site yesterday
https://www.carsdirect.com/deals-articles/kia-single-pay-ev-leases-can-save-big-money

Let you guys know once i hear back from em.

1 Like
11

So i got it signed today finally.
Single Pay Lease payment finally of $8009.32

Basically how it works is the MF is reduced from 0.00256 to 0.00116.
I.e. reduction of 0.0014MF.

All in all, it reduced my otherwise $325 x 35 months (since i initially negotiated for 0DAS) = $11,375 to now payment of $8009.32
I.e. -$3,365.68 saved.
Effective monthly cost is then $8009.32 / 36 = $222.48
Or if i include the turn in fee of $400, then $8409.32/36 = $233.59 per month.

Of course this is not for everyone as there’s risk with the single-pay lease, as well as not everyone (myself included in the past) would pay $8k up front. This time also the dealer allowed $3k on credit card and the balance cash. I had a 0APR credit card which even have a 2% cashback. (so $60 rebate on there) and the balance cash i had another 0APR 12 months but with a 3% fee. (So $5k x 3% = $150 cost)

Hope this helps all who’s looking to hack the lease!!

3 Likes
12

Any idea if the dealer would be willing to replicate deal?

13

quite sure they will. bcos there still inventory.

1 Like
14

Congratulations on the deal! Can you DM me the dealer if you don’t mind? I’m from Michigan too.

15

Congratulations on the deal! Can you DM me the dealer, I’m from Michigan too.

16

Please dm me dealer and salesman contact info…thanks!

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