I have been browsing leases for 2022 Kia Forte GTs with the GT2 package in the NJ/NY area.
Running numbers through various calculators has me paying $368/month to $438/month depending on OTD. I know cars in general are not leasing well, so I doubt I will get near that bottom number.
edit: 775 FICO
With that said:
What do you think is reasonable for this type of car at 10k/year in this market when registered in NJ?
How best should I go about actually getting within that price range? Should I be emailing offers to various dealers instead of walking in first, and seeing where it goes? Maybe just use a broker? If so, any recommendations?
First Dealer I went to (note I did not negotiate):
VIN: 3KPF44AC9NE429585
Miles per Year: 10,000
MSRP: $26,840
Kia Forte GT: $23,490
GT2 Package: $2,200
Carpeted Floor Mats: $155
Freight/Handling: $995
Market Adj.: $3,431
Rebate: -$330
Tax, Title, Registration, Fees: $2073
Money Factor: 0.00138
Residual: -$17,177
0 down because it’s a lease
$499/month. Seems like 12.9% APR instead of 3.312%. Not to mention the $3,500 markup.
Second Dealer
VIN: 3KPF44AC0NE434626
Miles per Year: 10,000
MSRP: $27,229
Mark-up: $459
Kia Forte GT: $23,490
GT2 Package: $2,200
Carpeted Floor Mats: $155
Freight/Handling: $995
Tax, Title, Registration: $2363
Fees: $900
edit: Removed Acquisition of $750
Money Factor: 0.00138
Residual: -$17,177
0 down because it’s a lease
This one started at $522/month and after negotiating I could only get it to $500/month. Dealer was a nightmare so I am not going back.
I am in no particular rush since I have enough time to figure out my next lease, but come on. $500/month for a Kia Forte?
2nd one makes no sense. How can it possible be more than deal 1 with thousands less in markup? And the tax and gov fees is WAY off. Looks like it is based on a purchase rather than lease.
Not sure how off my numbers are since I’m no expert, but for 1st dealer what I did was:
$32,013 (OTD) - $17,177 = $14,836. To get to $499 it’s something like almost 13%, since at 3.312% it comes to $433. Even with some margin for error since I could be missing something, that number is $66/month away and I don’t know where it is coming from.
Residual is 64% for 36 months at 10k/year. Got the same from both dealers, so $17,177. I would also like to mention that they removed a $750 aquisition and I was just left with MSRP, taxes and registration (which seem higher than normal), and $459 markup+$900 in fees (including government fee), so it should come to like $404/month not including the $330 rebate that they never applied. That second dealer just kept playing games.
Did they say they removed it or are you just going off of it not being on the sheet? Acq Fee is charged by the bank, so isn’t usually one that gets negotiated out
No, he removed it entirely. I was a bit surprised at it getting tossed too since I didn’t think he could do that, but considering the rest of the experience was a nightmare I understand why.
Could very well be that. I would have had to get far enough to read the whole contract. Even then, $500/month makes no sense with those numbers and every time I tried to point that out he kept saying “I’m not lowering my MSRP for you” as if that was the issue.