[Deal Check] 2021 Kia K5 GT-Line with Premium Package | 24m / 12k miles per year | Seattle, WA

Hi Hackers,

After observing the deals posted here, I decided to go the lease route to get my first car. I understand that WA state doesn’t get the best deals for leasing as CA or Tri-state area and my expectations are realistic. However, I see the differences are huge to not ignore.

First round of emailing some Kia dealerships, this is one quote I got where they provided the MF on asking:

I see that there is room to ask for dealer discount as it is non-existent in this quote - but what should be my target?
Standard manufacturer rebate for this month is $2400. Could someone shed light on if any more manufacturer rebates are available in Kia for this month? Would it improve if I’m ready to sign a 36m lease?
Since this would be my first car, I don’t qualify for any Trade-in / Conquest / Loyalty rebates, nor do I qualify for any first-responder promos. Are there any known rebates through Costco or corporates?

Seeking the collective knowledge of the forum to help find a good leasing deal in WA State.


What did Edmunds give you for rv/mf/incentives?

36m leases tend to be better per month than 24m, but you’d need to run the numbers to verify.

Frankly, if this dealer is sitting at full sticker price on their offer, just move on to a new dealer.

You need to put together your target offer first though.

Do they actually discount the GT K5 though?

Thanks! Here is from edmunds forum, for a 24m/12k lease on Kia K5 GT-Line in WA State,

.00117 MF and 67% residual
$1900 lease cash
$500 bonus cash

This is in line with the quote posted above as well. Does that mean that this dealer already provides the maximum possible rebates and a good MF and there is no negotiation possible in those aspects?

Could you suggest how much should I realistically target as dealer discounts off MSRP without getting laughed-off?

This dealer in CA seems to offer some good deals which I’d love to sign if I were there. I hear in WA state I cannot expect such a lease quote - but what would you consider as a ‘Good deal for WA’ versus a straight rip-off?

I could have sworn I saw some discussed in the ~5% range

This is for a K5 GT-Line (Cosmetically similar to a GT), not THE GT. (Edit: This clarification is just a note to help other newbies reading the thread, not you pros! :slight_smile: )
I haven’t enquired about K5 GT - I didn’t even see them in dealerships’ website inventory.

Pre-incentive, right?
I really wonder why they don’t discount much now…
Let me call up my Kia friends and see what they are doing in TX

Ya, although Im only going off of memory. I do know I saw k5s with discounts though

Correct. Short of any specific incentives (new grad, loyalty, etc), what you see there is what you get. Anything more would need to be dealer discount.

Well, I am looking at the TrueCar screen and it look like 3% is the max in Dallas-Fort Worth area. That’s a bit strange. I thought K5 was their flagship vehicle.

It’s just the Optima. It’s their bread and butter sedan, certainly not a flagship vehicle.

They should had never changed the name

I shopped around and got to the following number:

Kia K5 GT-Line FWD with Premium Package - 24m/12k

  • MSRP 28,555
  • Dealer discounts: $2055 (7.2%) ( - )
  • Manufacturer Rebate: $2400 (8.4%) ( - ) [$1900 LC + $500 Bonus. This is same as posted in Edmunds]
  • MF Used: 0.00117 (APR: 2.81%. This is also same as posted in Edmunds)
  • Residual value: $19,132 (67% of MSRP, same as posted in Edmunds)
  • Comes out to be $0 DAS + $370 per month for 24m/12k

My target price is $0 DAS + $280 to $300 per month for 24m/12k - someone who has seen WA leases tell me if this is a realistic estimate considering its a Kia-Sedan at the end of the year.

What are you basing that target price on? Your numbers would require you to be at 15% pre-incentive. I don’t see any world where that’s happening.

From the above calculator,
7.2% off MSRP -> $0 DAS + $370 pm (Current offer)
12% off MSRP -> $0 DAS + $302 pm
13% off MSRP -> $0 DAS + $288 pm

I’m considering the following,

  • End of the year - the dealer might be motivated to turn up better volumes
  • MFR rebate being the highest ($2400) for this variant (GT-Line FWD) + term (24m/12k) combination, compared to others.

Also, I was trying to document in calculator the 2021 Kia K5 LXS lease deal offered by @Ty_the_Car_Guy - I see those Kia deals as the Gold standard for K5 leasing and I even reached out to him to sign-up for one, but unfortunately he could not do out-of-state leases.
Plugging-in the MF, Residual, MSRP and adjusting the Down payment to make DAS $2000, revealed a ~15% discount off MSRP.

Link to the Calculator - please let me know if I got something wrong here.

I’ve then applied a comparatively slightly lower 12% discount to my WA dealer’s offer to arrive at target of $0 DAS + $300 pm lease. (At 13.5% discount, I’d hit $280, but mostly I’m just using this as a lead-up to hopefully settle at 12% and hence $300).

So there you go - I’ve explained my thought behind how I arrived at my target.

From your response, I sense you feel this is unrealistic and I agree that this could be. This is why I seek the input from Trusted Hackrs like you - what do you think is a realistic number? Or what do you think I should do to arrive at one?

I would move onto a different car (if what you are looking for is an LH type of deal). If you arent emotionally tied to wanting this specific car, you can probably do much better from a “what you get for the $” cost perspective, IMO anyway. I wont bore you with the usual “just get a BMW 3 series for the same $” statement :slight_smile: That said, I would get a BMW 3 series for the same $, LOL.


I appreciate that you actually have substantiated how you got to your numbers. It’s far too often that people look at an offer and then just decided without good reason that the price should be $100 less. Someone having logic behind their target is sadly few and far between.

I’d be cautious about basing your numbers off of a back calculated estimate from a special price on a different trim. Often times there is extra trunk money on these less desirable trims that makes things a tough comparison.

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Agree - I’m not very specific about the K5. Recently, I’ve also been pursuing a Sonata which is based on the same platform. I’m willing to change my expectation and monthly cost to land on the incentive-loaded trim - in this case a 2020 Hybrid. Yet, I’m having a tough time trying to replicate a deal another WA-based hackr signed a few weeks ago. I do wonder if I miss this end-of-year window, then with rebates expected to dry up next month, and dealers not willing to discount as much, I’d have an even worse chance of getting a better deal.

Like I’d be unwilling to sign if I got one at this price in WA! :stuck_out_tongue: