Im leasing a KIA EV9 and im confused about the application of the 9500 rebate. Do these numbers look correct. Should part of that rebate be allocated to the 1st month?
It also appears the taxes are in there twice. Is one of those the taxes on the rebate?
MSRP was 61785
Negotiated Price was 56285
RV 64%
MF .00006
Im in Florida and the Dealer is in Louisiana
I assume that the $9061.67 in line B of the first section is part of the rebate and that the remainder of the rebate is showing up as amount to be paid in cash under the due at signing section?
It is. Is that the correct way to do it?
CDKâs down, let it rideeeeee - Kia dealers probs got a guy with a spreadsheet using ratios for calculating approval for the payment on your credit score and income.
Jokes aside, looks completely normal to me
9500 in rebates (7500 ev + 1500 summer bonus + military? Or a vin specific rebate), using 9100 of that as âdownpaymentâ/ capitalized cost reduction, then the rest to cover that payment.
Guessing this is a sign and drive deal? Or have I had one too many this evening.
That is the way I read it but they stated the 1st month would be due at signing in addition.
Can you please post a redacted offer sheet for us, as well as confirming trim? Florida taxes rebates iirc. Or post more of your contract (basically everything sans vin is helpful)
Trim is LLR. I will post what I can shortly.
The LLR @ 24 months has an 8000 rebate plus 1500 VIN
Residual was 64.
What does that mean? 
A magic acronym that broke which means Iâm not getting my next Porsche just yet.
Second attempt at calculator - adjusted residual, selling (whoops)
I did evaluate your lease and performed all the calculations, including the calculation of the CCR, and can confirm that everything was done correctly. Florida levies sales tax on the Indvidual base payment streams. What I donât like is that the base payments include capitalized sales tax of 712.50 = 7.50% x 9500 as well as the tilt/reg/license fees (see itemization of gross cap). These items are non-taxable IF you pay them upfront. Since tax is levied on the base payment, you are paying tax on tax.
There are several ways to construct a lease. Never allow the dealer to control the deal. Next time, you may want to create a one-page lease proposal like the one below and email it the dealer and negotiate via email/phoneâŚ
Notice that the rebate was used to cover all lease inception including the CCR. In your lease, a portion of your 9500 rebate was used to pay your 1st payment of 438.33. The balance was used as a cap reduction (CCR).
Their serverđŹ
Iâm missing 438 bucks in my math. It could be the baileys talking though. Dealer capping first payment and collecting it anyways maybe?
Garlic is just kidding, hah - itâs been a fun week and everyoneâs hopeful itâll bump up July #s for âsales that didnât happen this month will be pushed to nextâ. Stack the taycan recall, it isnât a fun month.
That was what I was missing too!
The dealership also said 1st Month would be due at signing. That doesnât make sense to me. I was under the impression I would pay the first month and the 9500 would go to cap reduction.
I would double double check in the morning. Sometimes salesppl misspeak, they donât always or need to know how leasing works or always do deals a certain way and never do sign and drives. However it may be, verify and report back!
It was the finance guy and he said âitâs how Kia does their leaseâ after I stated multiple times that the contract didnât show that.
The sales guy didnât have a clue.
I will say they seemed very open and straightforward with the price negotiation unlike almost all of the other Kia dealers.
By the wayâŚyou guys are awesome!
