Deal Check: 2024 Kia EV6 GT-Line AWD Lease - 1 Payment Buyout

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Hello! I am planning to lease a 2024 Kia EV6 GT-Line AWD. I am an NC buyer and the dealership is located in KY.

My intention is to own/buy the vehicle, and was interested in doing an early/immediate lease buyout after the first payment and trying to understand if it is a smart option. This is my first time leasing, and I am looking for advice on

  • What will be the total effective “out the door” cost of this deal if I buyout the lease right after the first payment?
  • It looks like the dealer is giving me substantial price discounting, then trying to make up for it by jacking up the MF. My thought is that, by buying out the lease immediately, I can negate that high interest rate and get even more savings. Is that true?

Here’s the details I have from the deal sheet:

Model: EV6 GT-Line AWD
Payment: 0 down, 24 month, $512/mo

MSRP: $59,150
Total Savings + Rebate: $18,450
Sale Price: $40,700
Proc/Doc Fee: $495
Acq. Fee: $650
Protection (their paint protection program, meh) $299
Sale Price + Doc + Acq + Protection: $42,044
Residual Value: $33,124

I did a basic calculation for the full cost of:
24 mo x $512/mo = $12,288 cost of lease
$12,288 cost of lease + $33,124 Residual Value + $1,686 Taxes (4% in NC * $42k price) = $47,098

However, I admit I am way beyond my expertise as I get into the details here. My calculation for the ‘cost of lease’ may not represent the buyout strategy. Appreciate any help!

And here is my best attempt at filling in the Calculator for my deal. A little unsure of how to handle taxed incentives vs selling price.

Your selling price should not be $40,700. You should remove the lease cash from your sale price and add the protection plan, etc in the sale price.

No he is not. Your dealer discount is only 3.5% off MSRP.

Your calculator should look like this:

That is true, but this car would depreciation significantly so personally I wouldn’t be interested in buying an EV6 when I can lease it for cheap.

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