Help figuring out this Kia Niro EV Lease offer

Hi All,

NewB here. I’m reading the calculator tutorial posts and watching the videos but I cannot for the life of me make sense of this Kia lease offer and get it to convert into anything remotely close in the calculator. I thought I had stumbled across a needle in the haystack finding a new 2023 model still sitting on a lot here in Northern CA and hoped I could snag it up for a good lease rate. This is a 2023 Wave with Preserve package (heat pump + heated rear seats) so it was essentially the most fully loaded configuration possible for 2023 but for including a $10K discount off MSRP price this lease offer still seems like total garbage. I’m fully aware that the $1.8k dealer add-on for Zurich Shield is a rip-off/dealer scam. I have no intention on paying for it at all even if it’s on the vehicle. I’m just trying to make sense of where the current payment numbers are coming from so I can start negotiating with this dealer. Can anyone on here help me get these numbers into the calculator and matching with what the dealer provided? The only thing I can figure is that they are giving me an astronomically high MF since the residual value is better than it should be (used 2023 Niro EV Waves can already be found on the market for <$30k). I’m only interested in doing a 36 month lease and would like to keep the cash down minimal but would consider $2-2.5k down max for a lease. Thanks for the help everyone!

This is $800 off msrp, not $10k. Theres essentially no discount on a 23. This needs thousands of dollars more discount to be remotely considerable.

What should the rv/mf/incentives be? What discount have you found when researching these?

This dealer offer is pure crap. Focus your attention on putting together a target deal of what thos should cost and then approach a different dealer with that offer. You’ll never get anywhere with a dealer starting with this poor of an offer.

Sorry for the stupid question but can you please explain how you came up with only $800 off MSRP? Isn’t the MSRP $47,805 and even with the bull crap paint shield add-on isn’t the cap cost $39,600; so effectively $8,205 off MRSP with how the offer is written up now? Dealer is offering a $2.5k discount and Kia is doing the $7.5k customer cash which is where I came up with $10k off MRSP but clearly I’m missing something critical here!

The dealer is offers a $2.5k discount and then clawing $1800 of it back. Makes this a $700 discount (i misspoke above), assuming theyre not also clawing that back with a marked up money factor.

Incentives aren’t discounts. Theyre essentially manufacturer msrp adjustments presented in a way to make you feel better. A vehicle sold at msrp with no discount still gets the incentives.

Right I totally get that they are trying to claw back the majority of the $2.5k dealer with their Zurich Shield crap. And I’m 100% willing to walk away from any deal unless they completely remove the the Zurich Shield or give it at $0. But even with this $1.8k inquestion, the rest of the lease numbers still don’t make any sense to me from a lease calculator perspective. I had been entering the $7.5k into the calculator under untaxed-incentives and the $2.5k dealer discount under taxed-incentives. I have no idea if these are the right or wrong way to use these numbers in the calculator though.

$7500 goes under taxed incentives.

The selling price is the msrp minus $2500 plus $1795. Thats where your $700 discount gets captured in the calc.

If you post your calculator attempt, we can help. You’ll need the rv and mf this should be though to get started.

You should share your calculator for someone to try to correct it.

This is probably your calculator for 36/10 at 9% taxes. You can start from here:

Practicing my calc skills, so probably wrong - Calc for this lease…. Change the selling price to 45,305 to remove the Zurich shield markup. RV is 65 (pretty good), MF seems to be around 4% APR

Buy rate on this is .00198

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You’re in Cali, the land of a million dealers, cast a larger net and don’t fixate on a '23. Put together an offer of 10% off(2024) and base MF, if you like that payment just start sending out offers to dealers that you’ll sign today. 2023 is distressed merchandise at this point, I’m shocked a Cali dealer even has one, I’d say 12% off.

Even with 10% off and 0.00198 MF, your calculator doesn’t seem to be pretty good. You are currently at 1.5% discount: This.

Maybe look at another vehicle?

Thanks everyone so it appears my fundamental mistake was deducting the $7.5k customer cash incentive from the selling price in my calcs. This was original calcs: My Calculator

I’m still confused by why cash incentives don’t deduct from selling price but I believe you all that this is the way it’s done considering my numbers were coming out 1/2 of what this lease offer was. So it’s definitely a garbage lease deal.

And yes I’ll just be passing on this one completely. I had hoped the dealer would be motivated to clear out a 2023 model of their lot that’s been sitting a long time, and cut a great deal, but clearly not. It’s the only Niro EV they have in stock and this explains why…

What you did here was include it as both an incentive AND a discount. You double counted it.

IMHO, dealers either keep these for bait-and-switch, or they owe too much and are waiting for a sucker.