Is this a good lease deal?

[Beanstalk728]

Sorry if this breaks any forum rules. I’m brand new to leasing and trying navigate this deal. Please let me know if you need more info.

2017 Kia Sorento SX
41,700 msrp,
discounted the price to 36,500,
mf is .00075,
residual 57%,
includes the wear and tear, and a remote starter.

Price with just first payment down including all taxes (7% sales in RI) and fees is 439.04 per month. Think I’ll get it down to $430ish

I’m a little hesitant to be paying so much for a Kia but it has all the bells and whistles and I like the styling. I also took a Mazda CX-9 for a test drive and the initial payment they came back with was outrageous at $579.

Does the Kia deal seem right? Is there a better deal out there for a similarly equipped SUV? I read through a lot of tips on the sight and it seems like finding the highest residuals is the best route. Is there a database for that or a website? Any help would be appreciated thanks in advance

[BSANDERS]

@Beanstalk728

Sorry if this breaks any forum rules. I’m brand new to leasing and trying navigate this deal. Please let me know if you need more info.

2017 Kia Sorento SX
41,700 msrp,
discounted the price to 36,500,
mf is .00075,
residual 57%,
includes the wear and tear, and a remote starter.

Price with just first payment down including all taxes (7% sales in RI) and fees is 439.04 per month. Think I’ll get it down to $430ish

I’m a little hesitant to be paying so much for a Kia but it has all the bells and whistles and I like the styling. I also took a Mazda CX-9 for a test drive and the initial payment they came back with was outrageous at $579.

Does the Kia deal seem right? Is there a better deal out there for a similarly equipped SUV? I read through a lot of tips on the sight and it seems like finding the highest residuals is the best route. Is there a database for that or a website? Any help would be appreciated thanks in advance

THAT IS A 36 MONTH LEASE.
GET A 39 MONTH WITHOUT NEGOTIATING THAT WILL SAVE YOU $30/ MO!
OTHERWISE THE DEAL IS NOT BAD. YOU CAN DO BETTER THOUGH.

[vhooloo]

The first rule you are breaking is the 1% rule lol!!! If you are paying more than 1% of MSRP for monthly payment, then it is not considered a good leasehacking deal [some disagree with this rule of thumb but I find it useful]

The second observation is that someone just got a BMW X3 at 60k for 462. You may not qualify for the same rebates as that person nor be as successful in finding a good dealer, but to me, paying the same money for a Kia v a BMW gives me pause.

2017 BMW X3 deal questions (LH Score 11.8)

OK, so I have finally found the car I think I want and pushed pretty hard on the deal (they actually just gave me what I asked for straight off the bat) I have the following rebates: $1,000 holiday $1,000 loyalty $1,500 VIP I have been told the loyalty rebate actually only acts as a drive off reduction and not a cap cost reduction. Is that correct? Given that my ambition is to reduce the monthly does it make sense for me to do a $1,000 cap cost reduction on the car to counterbalance the fa…

[vhooloo]

And since you are in RI, you are arguable in easy reach of a few BMW dealers in MA and RI, so you should be able to deal. As far as SUVs goes, there is an equinox budget deal going on, check the forum. There is also highlander XLE deal going on, check the forum as well.

Toyota wellesley

Also in same vein as X3, the is XC60. It does require 3k down, which makes the payment close to 450 but I am hoping you can neogitate more.

Volvo norwood, MA

[manku]

I use the 1% rule, but include tax…so if a car is 40K, then the monthly average should be no more than 436 assuming 9% los angeles tax for me.

This is adding drive offs and monthlies, but not disposition fee. Personally, I only do zero drive offs…unless a dealer makes me a tremendous offer that others can’t match.