‘24 Kia EV9 Light Short Range Lease- I’ve done my homework need help with few questions

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We are hoping to pay around $11-$15,000 towards the negative equity, so we would be rolling over no more than $10,000 in negative equity. We have our reasons as to why we need to get out from this vehicle. It has oil consumption issues, engine issues, and the moon roof on some just happens to explode.

As far as I know, there isn’t a consolidated LH thread that contains info on which cars get lease tax credits (although I think BMWs often do).

You can check the Marketplace, Signed Deals and Tips, and Signed! to see what’s being offered and what people are getting in TX. That might be a good place to start.

As others have stated, look in the marketplace for cars in texas that lease well. At this point you just need a vehicle that works since you are going to be eating an insane amount of negative equity. Just 10k over 36 months is an increase of $277 monthly and that doesnt consider any interested added ontop.

The new numbers for Feb will be showing up around now. Wait until they come up, and try and find the cheapest leas you can find. Getting rid of the negative equity has to be your first thought.

Side question. Are you expecting those issues to happen on the Palisade or are all those issues happening now.

Does it currently have the oil consumption issues or is this something you have read? Also, you mentioned you are not at the 100K warranty yet, so does it not make sense to start that process now?

Same thing with the exploding moon roof; are you just saying this because these are the issues you have read on the forums? I have the same vehicle, year and trim, and while i dont have near ly as many miles as you, you have to take what is talked about on forums with a grain of salt, understanding that usually the issues brought up are of the minority.

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I’m going to be honest with you in the hopes that you start being honest with yourself.

Please stop using words like “absorbing” or “rolling over”. Don’t listen to a salesperson who says your NE will be washed or buried. Literally none of those things will happen.

The only thing that will happen is that you reborrow and pay it back with interest. Every last penny of that NE that you are not paying in cash, you are borrowing and paying back with interest.

Since no one has come up with a car that matches the criteria that would make a good lease for your situation, your best bet is probably a 0% APR financing like a Tiguan.

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I agree. I had a Sonata a while back that the Theta II engine was notorious for spinning rod bearings and burning lots of oil. I never had any issues with it, I just followed the factory severe service schedule religiously. Oil changes every 3750 with full synthetic, and since 5w/10w30 was allowed in the owner’s manual, I ran exclusively 10w30 in it. I also live in Texas. Checked all the fluids and filters at every oil change. Changed the spark plugs at 75K instead of 100K as recommended in the manual. Changed transmission fluid (drain and fill) every 15K.

Also, I hate to be the one to point it out to you, but the 2nd owner only gets a 5/60 warranty on Hyundais and Kias. Unless it was Hyundai CPO, then the 10/100 gets restored. So you most likely are already out of warranty.

I’m with the other guys, pay down the negative equity and take meticulous care of it so it will last you longer.

Yes it has oil consumption issues already. I am at 83,000 miles and the dealership is shitty enough. I worry that I will go have this taken care of and they will just “bandaid the issue” and then what if something happens after 100,000 that they missed?! Then I’m out of warranty, and stuck with a vehicle that I’m way upside down in and not worth shit at that point. Look, I realized we messed up big time with the purchase of this vehicle. I have LEARNED this, and I’m trying to be proactive and get out of this negative equity. I’m fully aware I will be paying interest on the NE that I roll over, BUT I will be paying it over the course of the lease term, then I can turn that car in and walk away. I can then make a BETTER MORE INFORMED decision on the next vehicle that I finance, OR I could decide to do another lease. I don’t need continue bashing of what decision I already made. I was just looking for guidance on how to get out of this situation and better myself for the next vehicle purchase I make.

We purchased an exetended mile warranty, yes we have 10/100

There really isn’t a good way b/c the way most lease in TX are taxed makes the situation even more complicated.

The reason why many posters are being a bit irritable is b/c your question (“How do I bury negative equity?”) gets asked a lot on here, and we often see people making decisions that they think sound good but will actually just keep the negative equity cycle going.

Honestly, I’d contact one of the brokers that works w/ BMWs in TX to see if there’s something that might work for your situation.

Is there a list of brokers for BMW in Texas? May I ask why BMW specifically? Do you have any contacts that I can email?

Look no further.

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I just filled out your form. Thank you.

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Already given above.

Often have tax credits and at least one model (if not more) has subsidized leases.

No lender tax credits on anything at this time but several models are heavily subsidized.

Oh, ugh. Thanks for the info. Well, maybe the heavily subsidized will be enough for the OP. :slight_smile:

negative equity decreases over time. If you are able to keep the car for 6-12 months, without any issues, it might actually be a better decision than to pay the negative equity + new car payments at the same time. Good luck with your search. The TX tax credit requirement makes your search a bit difficult.

Ok, I respect your decision.

But in the off chance that you aren’t able to work out an acceptable deal with your negative equity, I highly recommend Mobil 1 0w40 or another Euro rated 5w30/0w40/5w40 as they are thicker than the factory recommended oils and contain more “true synthetic” content such as Group IV PAO basestock and Group V esters basestock. Besides being thicker, the higher true synthetic content can also help clean your oil control rings if they are stuck. You can get these Euro oils at Walmart for $25-$27 a quart, and some Walmarts also have the Hyundai OEM filters in stock.

For more info on living with an oil burner if you get stuck with it, try www.bobistheoilguy.com. There’s other people that have posted techniques there for reducing consumption, another thing people do besides the Euro oils is a Seafoam soak with the spark plugs out of the engine, the goal being freeing up stuck rings and removing carbon deposits from the piston lands.

But all that said, I wish you luck in finding an acceptable deal to get out of it. Good luck!

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Thank you for your help. I will look into this!