Deal Check: '23 Kia EV6 GT-Line AWD

Ask the Hackrs Buy/Finance
1

Two deals from different dealers, but both seem far higher than what the LeaseHACKR calculator is indicating. Seems either they are charging a high MF or something else is going on?

Dealer 1:
MSRP: $59,140.00
Selling price: $57,250
Rebate: $7,500
Dealer + Gov Fees: $1,130
Cap Cost Reduction: $6,055
Residual Value: $32,000
$0 down

The payments are $860/mo for 36 months.

Dealer 2:
MSRP: 59,260
Selling price: 56,100
7500 rebate
gov fee $12
D&H: $800
Residual $33,186

$1000 down
Lease for 36mo, 15k/yr

Monthly $772

My tax rate is 9.5%, and I believe is applied to the monthly lease payment on the depreciated amount?

Edit: One dealer reports the tax is $68/mo. for a total tax of $2,567.

The LeaseHackr Calculator (I’m a donating member) shows:
Effective Monthly cost of $592.

2

The first one seems high, but with zero drive off with 9.5% tax rate at 15k/yr, the second one is probably what you’re going to pay with 5% discount.

3

Is this not i4 territory?

4

Pretty base i4 territory.

5

Are you willing to travel for a better rate?

6

I’m sorry, what does i4 territory mean?

7

Depends on how far for how much savings.

8

Please post your filled out calculator

9

Post the link to your calculation.

10

Here it is.

11

Here is the shared link it is.

12

Youre double counting the $7500 incentive by including it in both the discount and the incentive area.

Your breakdown in the first post has the sales price listed. Use the sales price for the sales price.

13

Ok, here is where I’m a little confused. The dealer is listing the sale price on the internet for $50,500 apparently regardless of whether it is leased, financed, or purchased cash. As I understand it, and I could be wrong, Kia Finance is passing through the Federal EV rebate of $7,500 on lease deals only, since AFAIK a lease is the only way the EV6 GT-Line can qualify for the full rebate?

If that is the case, it seems like the $7,500 lease pass-through should then apply to the sale price of the car if one is doing a lease for the car? Otherwise, how could the dealer’s sale price include the $7,500 for finance/cash deals?

14

Dealers include incentives in their advertised prices all the time. Hell, they often include multiple incentives that don’t even stack.

In my opiniom, looking at a dealer’s advertised price is completely pointless.

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