Hello all, We test drove the Niro EV and we are in love. I know that is not a good position to be in when negotiating, not to mention we also need a car fairly soon. This makes me nervous since I have never leased a car or bought anything under 10 years old. I know the first generation of cars and electronics tend to be kind of buggy/have issues. Does anyone have a Niro EV or a Kona that can tell me if they have had issues? Has anyone had a first generation ev before? Do they tend to work out the issues through software updates, or is it best to wait for a 2nd or 3rd gen?
I don’t think the dealer that I have one reserved with is giving me all the fees even though he said he doesn’t add on any fees… the numbers just don’t make sense as far as I can tell, and the other dealerships won’t give me any numbers yet. The one I reserved is coming in two weeks.
The numbers he has given me are 389.50/month plus 36.03 in taxes with a $22,166.40 residual. This is for 36 months with 12,000 miles. The msrp is 46,180 and he is adding on 2,500 because there is such high demand. He is taking 8,700 off to make up for the tax credit, and the monthly payment above is including the 2,500 California rebate and an additional 800 down to make a total of 12,000 off the cap cost (48680-12000=36,680). When I asked what the money factor is he said 0.00238, but from what I can tell he hasn’t factored that in to the monthly payment… from my calculations based on the money factor, residual, cap cost, and taxes(9.25%), it is coming to 593.46/month.
Of course this is my first time trying to calculate a lease, so I am hoping someone can help me figure out what is going on here. Am I totally wrong, or is he trying to rope me in by making it sound like a better deal? I can see myself purchasing this car at the end of the lease if it doesn’t have a lot of issues due to being a 1st gen, but I wouldn’t be able to use the tax credit if I purchased it. As far as I can tell, a rough estimate of financing would be $55,836 total, and leasing and then financing would be $47,275 total, assuming we financed it after purchase. (this is also without any purchase fees he hasn’t told me about yet, and of course the interest rates will have changed by lease end) Based on his monthly payments the total to lease and then buy would be $40,437 plus any fees, but that just doesn’t seem right.
Any help or advice would be much appreciated! Should we go for it, wait for a second gen, or try to lease a hybrid or cheaper EV instead? We need a second car since we have a baby and my husband takes our only working one to work daily. It isn’t safe to stay in the mountains during fire season with a 9 month old and no transportation. Thanks in advance!