I don’t have actual contract, but this is what I was told on phone for EV9 GT.
Can the experts chime in on this deal?
Sell Price: $68,693 (includes $7,042 dealer discount)
Current rebates $9,500
MF .00053
RV 65%
Payment is $750
1st payment due at signing
This is for 24/10K miles.
Does that payment add up correctly for those inputs?
I don’t think so. How do I make sure payment is correct?
You need a lot more data than what you provided (state, sales tax rate, capitalized fees (e.g., 650 acq fee, taxes, etc.), cap reduction, term).
Base payment = MF x (AC + RV) + (AC - RV)/Term
AC = Adj. Cap (may exclude non-taxable fees depending upon state)
RV = Residual Value
Looks like the MSRP = 75735. If so, RV = 65% x 75735 = 49227.75 assuming no residual adjustments.
Do I need to ask them lower the selling price to lower the monthly payment?
You’re setting yourself up for a good whoopin. You need to learn about leasing including how to make all the calculations. You’re allowing the dealer to control the deal. Bad idea! I suggest doing some research regarding sell price in your area. Also, get the MF buy rate, residual factor, rebates/incentives from Edmunds. You didn’t mention the vehicle year, your state, or sales tax rate.
At any rate, once you’ve collected and vetted all information, create a lease proposal like the one below and email it to the dealer. Always negotiate via email/phone.
You have to control the deal and be firm. Otherwise, they’ll chew you up. Knowledge breeds power and confidence. If this is not your cup of tea perhaps because you’re too busy with other fish to fry, I suggest hiring a broker. There are plenty of good ones on this site.
The simple answer is yes. Will they do that? depends on how long the GT has been on the lot.
The more complicated answers are set above.
Make sure that is Kia Finance and not some more restricted leasing company like Ally.
This is in AZ. Please let me know how the deal looks like.
I dont know about for AZ but for Socal i would jump on it. Let me know if they have others they are willing to sell out of state
11%? wow
10char
Thats a fantastic deal. Jump on it
I have decided not to go ahead with deal. Anybody interested in the deal? I can send contact number of sales person.
Im interested. Pm sent
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