MF for KIA is off. Any other issues foreseeable?

Hello everyone,
Starting the process on a lease for a 2021 KIA Sorento S AWD with Panoramic roof in NJ. I have the numbers for the MF and residual as well as the lease cash incentive (thank you Michaell at Edmunds).

This dealership is using AutoFi, Inc. for there financial arm. This is the “Estimated Deal” they sent me. I know the residual is correct but the MF is off vs. the Kia Financial MF and I’m not sure about how they applied the cash incentive.

The price has NOT been negotiated so I know this is not a “good deal”.

Dose anyone see any discrepancies or red flags?

Thanks you so much.

.00090 MF, 67% residual and $1900 lease cash.

Mind if I ask what dealer that is? I’m going today to look at the same vehicle but with 36 months.

There’s no dealer discount? Rebate is a weird number.

Edmunds only gives information for captive banks. If the dealer is using a 3rd party bank, run the numbers with both programs to see which is better.

It’s not “off” if it’s just a different lessor/bank funding the lease.

It would be a coincidence if two banks had the same MF

I don’t believe AutoFi is a lender. AutoFi appears to be an automated dealer tool that puts together car deals and digital paperwork for the dealer. I would attempt to email a real human being at the dealership and get them to send you a real, management generated quote. My best guess is that their system is set to default to a marked up rate and no dealer discount.

both of you should PM me. i have a friend who runs a kia store. he’ll beat a deal to get a car out. he’ll become LH-worthy soon enough.


Yea. I have not negotiated the MSRP yet.

I don’t follow the rebate as well. If the first payment is part of the rebate as noted at the end of the quote, then shouldn’t the “number of Lease Payments” be 23 not 24?

The rebate here is $1900. It is being used to cover the first month’s payment, as well as tax and some cap cost reduction. There are 24 payments of $603 being made, the first one is just covered by the rebate.

Trying to figure out which dealer to avoid?

This dealer is asking full MSRP AND a marked up MF. A good deal isn’t going to happen here.

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Good call…I didn’t notice that on the right side of the deal. This is structured as a true 0 sign and drive.

From experience, if they started off at full price less incentives, and no dealer contribution, you’re not going to get very far here with regard to a good deal.

Not just full price, but full price and a marked up MF.


My best guess is that this is from Matt Blatt Kia in Toms River. I really don’t know much about them personally, but their radio commercials give off serious “Buy Here, Pay Here” vibes.

I think that’s the mantra for most KIA dealerships.

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Is there a reason why you prefer the 24 month term to 36, aside from the larger rebate? If we assume that 10% off is achievable on one of these (I have no idea if it is) then a zero down, zero due at signing lease for 24/12 should look something like this:

I’m not certain what % off he is at but across the country @ethanrs is offering a reasonably similar deal of 299/mo plus tax with 2000 at signing for 36/10k. If we play with the calculator a little bit here and adjust for a 24/10k residual we wind up with a very similar payment to that. Incentives seem the same in CA vs NJ so unless they are dealing with drastically different programs otherwise this should be doable with the right dealer. Only way to find out is to solicit some real quotes and get the lowest possible price before incentives with the base money factor.

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kia getting walloped by this rn:

Hi Willy3,
As someone guessed earlier, the dealer is Matt Blatt in Toms River.

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Thanks for helping me with this. My car was declared totaled last week. The newer, used RDX refresh (2019-2020) that I want to replace my old RDX are still to expensive for me to buy outright. I thought I would see what it’s like to lease for a couple of years.

I started with a calculator that looked a lot like the one you made. Even at 0% MSRP I can’t get it to correlate with this dealers estimate. It’s very frustrating.

This Sorento 2021 refresh is selling very well (it’s a nice car). All my research is telling me I won’t be getting much of a discount at this time. I’ll see what a three year lease would do to the numbers, if anything. Thanks again.

This sounds an awful lot like a line a dealer would say while trying to explain to you how their over MSRP deal is doing you a favor.