PHEV capital cost reduction lease deals on Hyundai/Kia? Vs buying CPO low miles

[zanydroid]

I’ve been digging around to see if there are any ways to get the PHEV tax credit as a capital cost reduction.

I saw some old posts talking about Ally third party financing, however I was not able to find a document explaining whether CCRs are available. And in the residuals PDF from March 2024, the PHEVs were 10% WORSE than HEVs. Which is like they factor in the impact of past tax credit on the residuals to the detriment of a buyout. Assuming they do not provide a CCR to compensate.

So then I moved on to looking at the deals. Surprisingly, when I pulled up the active deals, I noticed CCR that I did not see a few weeks ago. Are these new or was I just negligent?

Sportage PHEV X-Line $2400
Sorento PHEV SX Prestige $2400
Santa Fe PHEV Limited $3530
Tucson PHEV Limited $3514
I’m pretty sure I am interpreting the incentive text properly, since I successfully got a $7500 CCR on my Ioniq 5 lease late last year.

Is it likely for KIA to extend the CCR to higher trims?

Edit: Turns out I can’t read. On all models other than the Santa Fe, the Capital Cost Reduction is all from DAS. On the Santa Fe, the CCR listed there is from DAS, however there is an additional capitalized cost adjustment:

Offer shown based on $3,999 due at lease signing (includes $469 first payment and $3,530 capitalized cost reduction). No security deposit required. MSRP $49,005 (includes destination, excludes tax, license, title, registration, documentation fees, options, insurance and the like). Actual net capitalized cost $40,725.

This is a $4750 stealth credit. By comparison IRS 45W allows 15% * $49,005 = $7350 credit to the leasing company.

How does leasing with a CCR compare to buying a low mileage 6-12 month used Kia/Hyundai? And what is the general consensus on the value of CPO premium vs the bonus warranty?

[max_g]

There were good lease deals on the 2023 Santa Fe PHEV as of a few days ago, check the Marketplace again.

The Sorento PHEV only makes sense to lease thru a bank which passes the $7,500 rebate as a CCR and buy it out immediately. Such as Ally

Systematic overcharging on ally leases with rebate?

Signed this contract last June and I noticed there’s some bad math on this Ally lease contract for a Kia Sorento, that results in Ally collecting an extra monthly payment. I’m wondering if this is something systematic, since I believe the details are mostly generated by Ally’s software and difficult to notice (at least for the customer). This may only apply to deals with rebates (in my case the pass-through EV rebate). The problem is that the “Amount Due at Least Signing or Delivery” in line …

[zanydroid]

Got it. I did find the thread on the Sorento Ally lease, however I don’t understand what CCRs and terms Ally will provide.

Those threads combined with Google only got me this document so far which has just residuals and not CCRs.

[zanydroid]

I edited my original post with correct (hopefully) numbers for the incentives from captive lease company. The Santa Fe definitely has an extra incentive (though not the full ~$7500). The others I don’t believe have one.

[max_g]

Did you check the Marketplace for 2023 Santa Fes?

[zanydroid]

I scrolled those for an hour. Not used to the way the data is laid out on this forum as I’m new to Leasehackr so I’m not 100% confident I saw everything (and I don’t think the data is fundamentally modeled the best way, but it is what it is & works for others, so I can’t gripe that much).

After seeing some deals I went back and checked the captive financing deals and I can see 2023 Santa Fe PHEV deals there as well, basically pushing Santa Fe PHEV down to price parity with Tucson PHEV. I assume the captive is good for Santa Fe when it’s dubious value for everything else KIA/Hyundai PHEV because they’re clearing it out for the 2024 all new model.