Opinion: 2018 Kia Optima LX and Incentive Questions

[AB_hackr]

Hi Everyone,

Working on a 2018 Kia Optima LX 1 hour away and out of state. Here are the details so far:

MSRP: $24,120
Discount: $1,757 (7.3%)
Sale Price: $22,363
Rebate: $4,130
Total: $18,233
Residual: 36/12 - 54%
Residual: 36/10 - 55%
Bank MF from Edmunds: .00208

Dealer gives zero down options of:
36/12k $299 monthly
36/10k $292 monthly

Monthlies above are not good, I know. I haven’t been given the MF the dealer is using but what could make this a reasonable deal is getting the dealer to apply the $2,000 Bonus Cash (KMF Dealer Choice Bonus Cash Program) in addition to the $4,230 Bonus Cash (KMF Lease Cash). Incentive info from autobytel below.

When I told the dealer to apply the $2,000 incentive in addition to the $4,230 incentive and resubmit the offer to me, he said:

“The $2,000 KMF is for Lease Program. Discount we gave is Retail. You can’t combine the both. It’s one or the other.”

I expected to either be told that that incentive doesn’t apply to a lease or that he would add it and resubmit. I already told him I’m interested in leasing. This doesn’t make any sense to me!

If he said that the additional $2,000 incentive is not applicable to leases and is retail only, that would have made sense.

Has anyone gotten a dealership to apply both the $4,230 and $2,000 incentives below in addition to a reasonable dealer discount?

My understanding is that the $2,000 is manufacturer money, so if they add it, it’s not any additional money they’re losing, right?

More generally, how do you know whether an incentive is applicable to a lease and which ones can be stacked? Do you all just call a random dealership and ask for this info? Who at the dealership is the person most likely to provide this info without “coming in” for a test drive etc.

Thanks!

[tonyg2017]

1. I have yet to understand the “dealer choice” part of that bonus so i am not sure if the 2000 can be applied to leases.

2. If you are stuck on Kia, go for the Optima S (msrp 24.4k)

https://www.mattcastruccikia.com/manager-specials#2018-Kia-Optima-S
219/month all in at a 7% tax rate

3. If you are open to Sonata SE, it leases better than optima because of low MF of 0.00060 (vice 0.00208). Lease cash is 2500 and sales event cash is another 750. So 3250 instead of 4230 but a better deal overall.

[joeblogs]

seems like allot money for a kia and doesn’t follow the 1% rule.

[AB_hackr]

Thanks for the link to the Optima special. That’s helpful - I’ll hunt around for dealer lease specials in my area and see if that can be beat.

The MSRP on the S is $1,000 higher than the LX. The residual on the S looks like it’s 2% higher, but the incentive is $300 less than on the LX.

Not stuck on the Kia, I’ll poke around on the Sonata.

[BoardWalkNJ]

To find out which incentives can actually stack with Kia, don’t bother with Autobytel. Just look at the Kia payment calculator that follows build and price. I wouldn’t bother with an Optima considering the Sonata leases much better and a Q50 can be had for around that payment in some parts of the country. Camry also leases well and is lightyears ahead of Sonata or Optima

[StartingOut]

I leased a 2017 optima SXL for 296 with 0 drive offs a little over a month ago. You need a significant dealer discount and more manufacturer lease cash to make optima leases worthwhile due to bad MF and residual. I personally would not take that deal.

[AB_hackr]

Yes…it is a lot of money for a Kia if the additional $2,000 doesn’t apply, but if it does, then it would look something like this and would be well under the 1% rule: $174/month with tax after drive-off of 1st month ($174), doc fees & registration ($374) and tax on incentives ($354).

Lease Calculator

[AB_hackr]

When I went to the build and price, here’s what I got…if this is correct, then they don’t stack. But if this Dealer Choice stuff is like dealer cash, it may not show up on the calculator as a given, right?

[Sai1]

What data points do you have for the “light years ahead” analysis?