It’s very difficult to get good deal on Kia K900 because
It’s very rare (only 4 in entire SF Bay Area)
Has terrible residual
Kia dealers, in general, are not used to dealing with the class of customers who might be interested in a K900 (a dealer rep told me: “Leasing is a privilege” lol)
After emailing a lot of dealers all over CA, this is the best offer I have received:
MSRP: $61,015
Selling Price: around $55,000
Residual for 12k/year: 47% (ouch!)
MF: 0.00129
Lease rebate from Kia: $7,900
I think this isn’t a terrible deal for the type of car you’re getting… I think it’s a terrible deal because this is encroaching on 7-series territory for the money.
2.5k DAS is pretty common in CA because of our insane tax rate (9.25%) on lease cash and registration fee (about 1.15% of selling price). I choose to pay them upfront to avoid double taxation. It just includes tax + registration + doc fee + first month.
If you can look past the Kia badge, K900 is very nicely equipped. A stripper 740i of the dealer’s lot might lease for $700 with $0 DAS and no MSD (I highly doubt though), but it will not have adaptive cruise control, HUD, or Nappa leather. I know because I have been looking for such a 740i for ages.
Just saw the post and had to chime in. I had one of the first Kia Cadenza’s in the US back in 2014 (or so I don’t even remember anymore). Back then it was Kia’s most expensive car and it was prepping the dealerships for a higher level of clientele that was supposed to flood Kia stores.
As I was told back then, not all dealerships were allowed to have or sell Cadenzas and the upcoming K900, only their higher status level stores. Salesmen that handled these two cars had to go through a higher level of training too.
Bottom line I got a very sweet deal because of all the super incentives and cash on the hood Kia put on there to get the car our the door and rolling on the streets to get noticed. I got a top of the line Cadenza for 3Y 12K/M/M $350/m Tax included with basic drive offs that was about $1100.
The first Gen Cadenza did a lot to turn heads and really blew a lot of people away. Certainly didn’t get enough of “Whats that?” and “Who makes that car”, “Kia NO WAY!”. By the end of the 3 year lease the double sunroof was creaking like crazy and the Nappa leather was looking not so nappa anymore, but I walked away from the car thinking it was a real game changer and that I would never go back to Audi from this point on. The thing that annoyed me to no end was “60K for a Kia!! that’s the dumbest thing I have ever…”
I think you have stumbled on a dealership that has no idea what they are doing and if Kia isn’t going to subsidize the K900 or Cadenza to a ridiculous level, just walk away and pick up a new Caddy or BMW.
Actually, I am in the market because my leased Genesis G90 was totaled by a moronic driver. However, the ultra-low residual does have some benefits — I am getting back my drive off and then some after insurance settlement because ACV of the G90 is higher than its pay-off according to AllState.
But I agree with you in principle — I also try to minimize drive-off while avoiding double taxation.
Is $55k the best they’ll do? The cheapest K900 in Chicagoland is advertised at $51,500 ($65k MSRP), but I’m fairly sure it includes all available rebates ($2500 cash and $400 military is what’s available here from what I can see). That makes it almost $10k+ off before incentives. Of course our inventory is infinitely better - whopping 13 cars .
Can you please tell me a little more? If you were in a market for a luxury sedan in the $650-$750 monthly payment range, which cars would you shortlist?
I’ve got a spreadsheet tracking prices, days on the lot, residual value and incentives of every Kia K900 from LA to the Mexican Border, because I REALLY want one come next March. I certainly agree with OP on the K900 vs 7 series argument; I’d take this over a base 2019 740i or any 5 series short of a well optioned 540i or M550i (doubt I’ll ever find one cheap). But frankly, I don’t think this car is worth $700/mo and I won’t get one if it stays that way. Here’s what I’m finding so far:
My trends are showing that they’re slowly increasing the residual value (like 1% every 3 months). I would bet this is gonna cap at maybe 51% for a 36/10k
Based on Stinger’s and Cadenza’s incentive trend, that $7900 in lease cash is gonna turn into at least $15k (probably more) by next year. The Cadenza at ~$40k MSRP has up to $11,200 in lease cash at the moment
They’re starting to offer Loyalty on Stingers, I just gotta hope this leads to stacking and loyalty for the K900 too.
Their are currently 17 K900’s in SoCal, all but 2 have been on the lot since December 2018. I’d be willing to bet half if not more are going to continue to sit unless the sale price lowers a lot. They’re gonna sit for the exact same reason everyone has mentioned in this thread, “Why pay that for a KIA when you can get a 7 series for that money”. And that’s why I’m hoping to snag a deal next year
