Any feedback on this quote?
On the dealers site it says Final Price is 47,260 (with 5k dealer discount)
MF and Residual
36 months is .00043/$24,034
48 months is .00086/ $21,426.00
Is this still possible to negotiate to $500s?
You know the Carnival is much better car than a Mitsubishi right?
Are you already over 100k and out of warranty? And rolling in 3k neg equity?
A Kia Sorrento PHEV would be better than a Outlander
You,have 67K miles on a 2 year old Carnival. Are you sure you are a good candidate for leasing with that many miles per year?
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Yes, we bought the car at that time mainly for the space and extra seats since our parents were visiting. We did a lot of driving to different states to take them around and show them places during times
Are you trying to roll negative equity from the Carnival into the new lease? What will Carmax/Carvana give you for the Carnival?
Please don’t. I’m taking a wild guess that the manufacturer warranty doesn’t go to 45k let alone 60k.
^^^^^ What everyone above has already told you! Then tear up and burn that deal sheet, block that dealer on your cell phone and forget you ever considered that. Keep you Carnival a while longer and if you do not drive as much anymore, your negative equity will shrink over time.
It’s a PHEV so that part certainly does.
Between the low residual and poor incentives it seems nearly impossible to make the Outlander PHEV lease well.
Thank you so much for all the helpful input! We’re currently looking into ways to lower our monthly payment for a 3-row vehicle, especially now that we need a second car for our growing family’s needs. Ideally, we’d like to keep the payment in the low $500s—or even better, under $500 if possible.
Here are a few options we’re considering:
1.Refinancing our current Kia, which could bring the monthly payment down to the low $400s and give us more room in the budget for a second vehicle. However, we know that refinancing could extend the loan term and potentially increase our negative equity, since the car’s value continues to depreciate over time.
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Buying a car through Carvana or a similar platform, where we’ve seen some 2024 models that fit within our target range (low $500s) or just go with the cheapest 3 row for meantime? Then refinance after purchase to help bring the payment down further, especially since Carvana’s interest rates are a bit high.
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Leasing a vehicle for now as another budget-friendly option, which would still give us access to a reliable 3-row vehicle while keeping monthly payments more manageable.
At this point, we’re doing our best to stay within a reasonable budget while only one of us is working. Once we’re both employed again, we’ll have more flexibility to choose the vehicle and terms we really want.
We truly appreciate all the guidance—and thank you for being so kind and helpful throughout this process!
As long as your Kia isn’t at 100k I think refi is the best option.
If you go lease:
The Outlander is the size of a Sportage, so why not lease a Sportage instead? At least it has a better warranty and reputation vs a Mitsubishi. That’s around 4 for the non PHEV version.
The fact that you are losing 3k on the Carnival which is a pretty good vehicle, I would stay and refi the Carnival.
Outlander is going to be a huge downgrade from a minivan if you’re using that third row.
Yes, we understand, somewhat were leaning toward a smaller 3row too since we wont need the third row that often