New to this, but have tried to read, learn, and get some understanding.
I’m in Colorado, rural, unincorporated Jefferson County.
Looking to lease a 2025 Kia Sorento SX Prestige AWD PHEV. Shopped around a lot, and while I prefer the Santa Fe HEV in many ways, they just don’t have attractive deals that I’ve found - the Sorento is much cheaper. Drove the CX-90 as well, and it just doesn’t seem to offer as much for my needs as the Sorento, although the pricing is more competitive with Mazda.
Anyway, got this offer from a dealership, which seems pretty good to me, but I’m unsure. I’ve leased before, but after reading here, I think I’ve taken a bath in the past (wish I had found this site years ago!). Below is the dealer’s offer, and here is my attempt to enter things into the calculator, but I’ve definitely done something wrong as payments are not matching what the dealer sent me.
Dealer discount looks pretty bad, I leased a CX-70 PHEV back in September for almost half of this price and really happy with it considering the cost. I would recommend either reaching out to all the Denver Metro Kia dealers or seriously considering the Mazda option if you want better value…
I get pretty close by marking the MF that you have in your calc by .00040 and adjusting the discount to what you have listed, plus adding back in the $225 for floor mats.
As @moodyhank said, assuming KMF numbers that you provided are correct, the discount is pretty poor and they’re bumping the rate. Those are the two levers to work on here.
Thanks for the thoughts and comments. @eiva would you all recommend I go back to this dealer and ask for (1) bigger discount and (2) accurate MF (0.00213)? Or, better to go to many and shop it around?
@moodyhank , do you have the details you can share on your CX-70 lease? I’d love to know how it’s been for you as well, especially in this latest cold. Thanks!
The best course of action would be to put together your target deal, based on discounts you see here and buy rate MF (.00213). But if the dealer gets to your deal numbers with a larger discount than you’ve used in your target while keeping the marked up MF to make up some money on their end, that’s fine too. In my opinion, it’s best to not get bogged down in the specific details if the dealer is able to meet your target deal.
