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Better get yourself lubed up if you’re going in blind.
Communicate via text / email. Get your numbers and homework done at home, never go to dealership unless you are signing what is agreed upon.
They are as fixed as they want it to be. You really need those two numbers before stepping inside a dealership. That and you still need to know how many miles you want a year.
Stay at home, do your homework, you already know what is going to happen when you go.
It sounds like a broker would probably be your best bet, at least they can give you an answer to see if your numbers are realistic or not. And if you don’t want to negotiate in person with a salesperson/finance guy.
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Lucky for you parts of PA is considered part of the tri-state area, which means that you can reach out to @aronchi. If you lack confidence in your negotiation skills, do not walk into a dealership. Residual is fixed, but MF is not.
Flexibility is the key to getting a deal. If you’re set on the Kia Soul LX, not sure if those are discounted at all.
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Went to a Kia dealership today and was offered the base Soul LX 2023 at $4000 markup.
After the first conversation and test drive, I told the salesman there was no deal at such an inflated selling price. He came back with $1500 markup instead of $4000 with a commitment on $1000 down payment. There is no option for $0 down payment since I have a great credit score but no credit history.
I initially counterproposed that the deal would only be finalized at $1000 down if the salesman could get the markup down to $500. Our talks basically ended with us at a stalemate. The dealership is offering the car at $1500 markup and $1000 down to lease it (as it is my first time getting a car). At this point, one of his higher ups came out from inside the offices and said he could not move down to $1000 markup because it is too far for him. He said that even $1500 markup is a phone call to the owner first.
After this guy left, the salesman told that he would really and actually commit to getting it down to $1000 markup instead of $1500 if and only if I can give him a “Yes” before 9 AM that I will commit to the deal if he makes it happen.
I want to say yes but some of the numbers are not making sense/adding up. Please help me out here:
MSRP: 22115
Sell Price: 23615
Govt Fee: 211.47
Doc Fee: 449
Acquisition: 650
Gross Cap Cost: 25336.41
Rebate: 1100
Down: 1000
Net Cap Cost: 23236.41
Monthly: 411 (with $1000 down)
Adding up 23615 + 211.47 + 449 + 650 makes 24925.47 and not 25336.41. The difference is 410.94 which I understand to be the first monthly payment. But the issue for me is how are they calculating the monthly payment? It seems arbitrary.
If the selling price goes from 23615 to 23115 and the rebate goes from 1100 (36 month term) to 1750 (24 month term), how should I calculate the monthly payment? I understand there is interest which cannot really be determined until he runs my credit but I am looking for an estimate before I can commit to his final offer.
What do you guys think? And if I did something blatantly wrong/stupid while negotiating, please point that for next time. This was my first time in a dealership.
Thank you!
Do yourself a favor read leasing 101 and then talk to a shrink before you sign something like this. Block this dealer number until you figure stuff out.
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Don’t speak to that dealer again and go straight to a broker in the marketplace.
All due respect, you’re doing the whole thing wrong. This is a waste of time for you and all of us otherwise.
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This deal over 36 months pans out to $15,796 to drive a vehicle with an msrp of 22.5k. This is not a good lease. You’d be better off financing this vehicle. Have you checked other dealers? Markups are fading away, don’t pay them, it rewards a not so great business practice. Good luck, but this deal sucks.
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Thankfully you came here before signing
Not only to get advice on the numbers but also to hopefully talk yourself out of getting a Kia soul
@aronchi how about a Niro EV. It’s the 4th Thursday of the month and a full moon so I think you sell them to PA, which is considered part of tri state today?
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Yes hi is Florida part of New England? I’m interested.
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If only there was a calculator for that…
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I tried but I don’t understand the inconsistency in the numbers/how they are jumping to the monthly payment.
Have you read the basic leasing articles to understand how leasing math works?
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I’ll do kia for pa. I have an lx in white available. The better deals are on the niro ev
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Yes, I have!
I’d just stop trying to make sense of it and let one of the brokers help you out. Way less stress and you’ll end up saving a ton.
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Between the fact that the Niro EV is far nicer, costs less to lease, and has fuel savings, even if you’re on the fence on an EV, just go for it.
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Dealer can do anything and say any number. They can use sales tactics and try and confuse you. The advice already here is solid.
Do homework, know all numbers and market, and make a target deal and make offer. As others have said your taking the hard approach and should probably work with a broker.
There are maybe sub 3% of all makes, models and trims that have the lease quadfecta (favorable combination of discount, rebates, MF and RV)
What made you assume the Soul was one of them?
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