New to leasing, this will be my first lease
I was looking to pay under $12k for a 24m/12k mile EV lease in TX
Got the offer in photo for
Ioniq 5 SEL
$6500 down
$190/m
24m/12k
Works out to be $11060 over 24m
Am I being taken for a ride in current market or did I do ok?
Since you’re new to leasing, I just sent you my leasing basics sheet.
The first thing is that you shouldn’t put $6,500 down. In fact, you shouldn’t put anything down other than first month and fees (although some people roll the fees into the monthly payment).
Second, don’t have the dealership give you a price. You should be going to them with your offer, which is based on all the research you’ve done on here.
Finally, since this is your first lease, you should consider using a broker as they will likely get you a much better deal than you’ll be able to get for yourself.
What is “Loyalty Advantage” and “Opticam Protection?” On a lease, these dealer adds can increase your payment by quite a bit since you’re paying 100% for them over the course of 24 months. Those 2 items are adding over $34/month to your payment.
Also, as you’ll read you should try to keep your Due At Signing to only TT&L, Aquisition Fee, and first month’s payment at the most. Really, you should try to just limit your DAS to first payment and MAYBE Aquisition Fee.
Also, know the difference between Due At Signing and Down Payment. Those are terms that dealers use interchangeably and really are not the same thing. You’ll find most sales people (especially at a Hyundai/Kia store) will not know the difference.
Big thank you!
I saw the leasing basics and am reading it through.
I felt like $6500 down was alot
They came to me with a $14k offer then back with $11k
So I didn’t know what was up.
The $6500 includes TTL in TX, but still
+1 to brokers and thank you
Why would you want to pay $500 effective?
Good question
Not really want to, would want to do better
But its what i can afford right now so was using it as a measuring stick.
But I poked around at a few signed and broker offers for TX. With shipping, TTL it came out to all in about 400+ a month.
So if I could be around there or under there I would at least be in the same range as others.
Looking back now esp with the feedback I clearly need a better understanding of the numbers…or a good broker 
