Deal Check and Calculator Help: Kia Niro EV

Ask the Hackrs
1

Hello,
This is my first time leasing a vehicle.
Interested in a 36month/10k lease for a base model Kia Niro EV Wind in CA. I’ve found a quote and would greatly appreciate your advice.

Here’s the quote I have:

  • Down payment: $2000
  • MSRP: $41,110
  • Dealer price: $34,121
  • ETCH and Extended Warranty: $750 + $999
  • Documentation Fee: $85
  • Government Fee: $436
  • Acquisition Fee: $650
  • Paid by Customer: $2155
  • Rebate: $5,000
  • Adjusted Cap Cost: $30,291.68
  • Residual Value: $27,954.80
  • Money Factor: 0.00288

The dealer’s proposal indicates a monthly payment of $251, inclusive of tax. However, when I input these figures into the Leashackr calculator, I don’t get the same result ($225). CALCULATOR | LEASEHACKR

Is this a good deal, based on your knowledge?

Also, I’m a little unsure about what “paid by customer” refers to in this context - could someone clarify that for me?

Thanks in advance for your help!

2

Your due at sale in the calculator doesnt match your offer

3

Why would you need/want these on a lease?

I would ask the dealer to confirm what your due at signing amount is in the quote.

1 Like
4

Thank you. However, I’ve already entered the $2,000 into the calculator. As I’m still learning, some parts of this process are a bit confusing for me.

5

Thank you for your response. I’ll certainly check about eliminating these two additional fees. Do you happen to know what is the “paid by customer”?

6

What’s the $5000 rebate? Is that Kia incentive?

7

That is your $ Due at Signing

8

I can’t get the calc to line up with the stated payment output ($251 with tax) either.

Can you post a deal sheet, or was this done over email/phone?

Couple of things for sure:

This is a taxed incentive in CA. Your calc shows it in untaxed.

(Don’t misunderstand, this is 100% garbage, I’m just commenting on the calc.)

This needs to be accounted for somewhere. There isn’t a specific place in the calc for add-ons, because we hope people aren’t undoing their great lease deal by paying extra for things like etching and extended warranties that have no actual value.

Looking for advice from the rest of the group, based on whether these can be residualized or not (I don’t know; I’m allergic to this stuff :slight_smile: ).

Probably want to add these numbers to the selling price or to the dealer fees, or subtract them from the dealer discount (wait for further comments).

But I still can’t get my output to match.

9

But what matters is that the due at signing is the same. The dealer can capitalize some fees and not others, etc to change the amount due at signing with the same down payment amount. You don’t have that kind of flexibility (or visibility into what theyre doing) with the lh calc, so you need to adjust the down payment amount in the calculator to make the due at signing match.

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10

Its been captured here in the selling price

I agree it should be, but if you leave it as untaxed, the calculator is within $2/mo

1 Like
11

See that now, one Diet Coke and two cups of coffee later. :+1:

1 Like
12

Thanks @trism and @mllcb42

OP Check the marketplace to confirm but if you can get them to remove the add ons you’d be in pretty good shape.

13

Adding to this thread since it’s somewhat relevant to the deal.

How is residual support calculated? On Kia’s website, it says the $7500 federal ev cash is available as $5000 CCR and $2500 Residual support. Does that mean the 24/10k RV of 68% already includes the $2500 residual support?

“Application of $7,500 EV Lease Bonus includes $5,000 capitalized cost reduction and $2,500 of residual value support.An additional $361.25 of residual value support will be provided by Kia America, Inc. for a total of $2,861.25 of residual value support. Application of $5,000 capitalized cost reduction results in net capitalized cost of $32,325. Offer shown total lease payments are $14,964. Actual payments may vary. Purchase option at lease-end for offer shown of residual value of $27,795.00.”

14

Granted I am in the Midwest, so a different market than yours, the best I was able to find after calling dozens (literally) of places was around 370 with tax and no money down. Looking at your numbers, i am not sure if you would be paying 2k down payment + 2155 paid by customer, which would increase your effective payment by 100 or so, even with this scenario it would be a great deal compared to what I was able to find. If you are not paying 4k out of pocket, even better. By no means I know what these should cost, just comparing it to my personal experience.

15

figured out the answer, its $2861+ 68% RV. Not sure how the $361 Kia RV support is calculated though.

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