I’m new to leasing and I was wondering if anyone could please help me evaluate an offer.
I want to trade in a 2020 Kia Soul S that I am currently leasing for a 2024 Kia Soul S in the same color. My credit score is > 800.
My current car:
Model: 2020 Kia Soul S (red)
Mileage: 12,800
Buyout Quote: $11,887.97
Residual Value: $11,569.22
The new car (numbers from the dealer):
Model: 2024 Kia Soul S (red)
MSRP/Retail: $24,305.00
Rebate: $500.00
Dealer Price: $23,805.00
Residual Value: $15,312.15
Trade Allowance: $14,500.00
Acq. Fee: $650.00
Registration and Title Fee: $135.00
Proc/Doc Fee: $475.00
Monthly payment: $291.82
Paid by Customer (Down / Total Drive-Away Cost): $1,250.00
Selling Price: $23,805.00
Taxes included.
Gross Capitalized Cost: $24,415.01
Adjusted Capitalized Cost: $21,793.66
Money Factor: .00255
End-of-Lease Fees, Disposition fee: $400
I plugged the numbers into the leasehackr calculator, but I suspect that I may have made some errors. This is because the numbers provided by the dealer, e.g., Gross Capitalized Cost and Adjusted Capitalized Cost don’t quite match up with my own calculations.
I would appreciate it if someone could help me evaluate the offer and possibly double-check the dealer’s numbers.
Thank you for your help in advance!
Old text (please ignore):
Hi!
I would like to lease an “inferno red” Kia Soul S, but unfortunately, none of the dealers within 50 miles has one in this color. I was wondering if dealers can request a specific car color from the factory. If yes, could you give me some advice on how to convince a dealer to do so and how much I should expect to pay for it?
In case it is relevant, I am already leasing an older Kia Soul and plan to trade it in.
No one carrying the color means it’s not a popular or common choice. Best you expand your search range, as far as possible, if you have to have that color. I’d even look nationwide if it’s something I have to have.
Dealers can always find a way to source what you’re looking for, but you’ll have very little leverage at that point. How much they’ll charge will depend on the dealer and your negotiating skills. Good luck!
When it makes sense, We do locates for clients and dealer trade on the understanding that organic inventory has the pricing advantage especially when there’s cost to transport the trade or the holding dealer has add-ons they expect to be reimbursed for.
Thank you all for your answers and suggestions! @max_g and @trism, I extended the radius to 200 miles and found two cars. One dealer will not speak to me unless I visit, but the second one is more accommodating. He sent me a quote, but it is missing a lot of information required to plug into the leasehackr calculator. I followed up, and I hope he will send some more details.
My feeling is that the terms are not as good as what I got when I signed my current lease in late 2020 (the same car, trim, and color). Would you happen to know if the market is not as good as it was in 2020?
I’m new to leasing and I was wondering if anyone could please help me evaluate an offer.
I want to trade in a 2020 Kia Soul S that I am currently leasing for a 2024 Kia Soul S in the same color. My credit score is > 800.
My current car:
Model: 2020 Kia Soul S (red)
Mileage: 12,800
Buyout Quote: $11,887.97
Residual Value: $11,569.22
The new car (numbers from the dealer):
Model: 2024 Kia Soul S (red)
MSRP/Retail: $24,305.00
Rebate: $500.00
Dealer Price: $23,805.00
Residual Value: $15,312.15
Trade Allowance: $14,500.00
Acq. Fee: $650.00
Registration and Title Fee: $135.00
Proc/Doc Fee: $475.00
Monthly payment: $291.82
Paid by Customer (Down / Total Drive-Away Cost): $1,250.00
Selling Price: $23,805.00
Taxes included.
Gross Capitalized Cost: $24,415.01
Adjusted Capitalized Cost: $21,793.66
Money Factor: .00255
End-of-Lease Fees, Disposition fee: $400
I plugged the numbers into the leasehackr calculator, but I suspect that I may have made some errors. This is because the numbers provided by the dealer, e.g., Gross Capitalized Cost and Adjusted Capitalized Cost don’t quite match up with my own calculations.
I would appreciate it if someone could help me evaluate the offer and possibly double-check the dealer’s numbers.
How are you benefiting from this cycle? No matter how you look at it: paying $1+ per mile to drive a Soul. Or paying roughly the purchase price of the car over six years and gaining only a fraction of the equity that would otherwise have accrued to you.
Folks, who suggested working with a more geographically distant dealer:
Have your dealers sent you lease agreement copies to review before you visited them? (I am working with one dealer who has a good price but will not show me the agreement before I travel two hours to his dealership.)
