Deal Check / Advice for 2022 Seltos SX

Ask the Hackrs
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1

Appreciate whoever takes a look at this!

CURRENT:

  • 2021 Kia Seltos SX Turbo
  • 36 month lease (15 months in currently)
  • $388/mo
  • ~6000 miles
  • Current Payoff - $25,600
  • Residual Value - $18,691

Dealership wants to buy me out of the lease and put me into a new one. I’ve attached their offer for a NEW 2022 Seltos SX. They’re trade in offer is roughly in the range of KBB. Not too sure on particulars or if the offer is worth but the options I’m considering without knowing if it’s a good offer are:

  • Take the “$0 down” lease option for 36 months.
  • Keep current lease till expiration
  • Buyout now and finance with my CU (1.99%)?

Any advice would be greatly appreciated!

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2

What are you trying to accomplish? Dealership wants to sell you another car so they can make money.

3

Sure, completely understand that and I know that they’re goal is to get me into another lease.

My thought process revolves around leveraging the fact that they want/need my vehicle now and what the benefits (if any) are with my options.

4

Are they cutting you a check for $3400? Or is this just a keys for keys swap?

5

It would be a key for key swap.

6

So they want you to go from a Seltos SX for $388/mo to a Seltos SX for about $520/mo? (Your deal is $427/mo with $3400 DAS in trade equity) Why would you consider doing this?

1 Like
7

Haha well that’s why you all are here to tell me it’s a dumb idea :sweat_smile:

Best option would be to just ride out the lease then?

8

I’d ride it out and then towards the end of the lease, look at the equity situation. May be worth selling at that point.

2 Likes
9

Sounds good. Appreciate it!

10

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