Signed 2022 Kia Niro EV EX $319/month, 15K miles, and $3,392 DAS

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Traded in 2021 Seltos SX Turbo with 13,725 miles that was on a lease with 2 years left. Used the trade-in equity as a down payment. The dealer paid the first month’s payment. Dealer also delivered the Niro from over 200 miles away and picked up the Seltos for his drive back.

2022 Kia Niro EV EX in southern VA

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so how much equity did it give you as a down payment? that’s probably an important information to be able to replicate this deal

I think I put the wrong number in my deal. The trade in value I put was my trade equity after the trade lease was bought out. So I got $3,392 in equity I put as down-payment. I need to change that.

The Seltos trade was valued at $30,058. The lease buyout was $26,666. This left me with trade equity of $3,392 which I used as a down payment. Hope that answers your question.

The federal tax credit is passed onto the lessee immediately, correct? Not a bad deal! :+1:

Yeah, I got $10,800 in lease cash so I did better than the $7,500 tax credit

And those should be independent; you would still receive the tax credit if you qualify?

He leased it, there’s nothing for him to qualify for.

And no bank passes on anything more than their lease cash. There’s no federal tax credit on top.

So it is typically either the lease cash or the tax credit. Like the Mach E has no lease cash, but you claim it on the back end.

No, not on a lease. You either get lease cash upfront or nothing. You can’t claim the tax credit on a lease since technically you didn’t buy the car. You can only take the tax credit if you finance the car, not lease it.


I’m in VA and just got my Bolt buyback letter. Can you send a referral? I know inventory might be tight.

Where in VA are you. I am in central South VA, right on NC border. I went with Chantz Scott Kia. I talked with around 5-8 dealers. I probably know some around you. I used to lookup inventory first. I had to search over 200 miles from my zipcode to find my deal. What are you looking to get?

Claiming the tax credit on a lease would be tax fraud.

I am up near Richmond but willing to travel a bit because of the inventory. I appreciate the info. Hadn’t even considered a Niro EV.

I was referring to the purchase or balloon option

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Well, I wouldn’t travel. Make the dealer come to you. The lease I just did and the other I did a week ago the dealer both times came to my house, I signed papers in my kitchen in 10 papers, and they drove off in my trade. I never went to the dealer.

The dealer for the EV I leased drove over 200 miles to me, it took him about 4 hours to get here. The other one I did a week ago he drove 40 minutes. I did 3 leases last year from one dealer and they drove 1.5 hours to me.

To start you need to get the Truecar average selling price of your car. Next you get the Kelly Blue Book trade in value of your Bolt. I take the middle number Kelly Blue Book shows in the range. To get your equity you take the trade in value and subtract your buyout. In this market you probably have positive equity.

Now you should have all the numbers you need to know what money you are working with. For me I use any positive equity as a down payment. I never take money out of my bank account for a down payment on a lease.

I would next go to and search for the car you want and set the search radius to 200-250 miles. There are dealers willing to travel that far. One I just got my EV is in TN and said he traveled in the past to deliver a car to Washington DC, Georgia, and even Florida. The 4 hour 205 mile drive for me cost nothing, it was free.

When you contact a dealer let them know what you want, what you have to trade, the condition of trade, and be willing to email pictures. I also only talk to dealers over text/email during negotiations so I have written records to go back on. will start email or text communications.

After you get the first offer reply with your print out from truecar and Kelly Blue Book and ask for similar numbers. When you show where you are getting your numbers it makes negotiations generally go in your favor I have found.

I have leased 5 cars since the end of 2019 and have used this exact blueprint. It weeds out the bad dealers. I have traded in 4 cars done completely off pictures. I never once went to the dealer. You can also go to carmax to get an appraisal. The dealers generally match or exceed their appraisal. Also used this method to get a deal for my parents in PA where they are trading in two leases early, getting down to one car, the new payment is only $260 for a Niro LXS and they are walking away with $6,550 in their pocket.

Do you want specific dealers and salespeople I talked with? There might be a referral system where we get a kickback or something.

It would be helpful to those looking at this car if you updated your title to reflect the trade-in equity that was used as a down payment.

I updated it, is that what you meant?

You would state the dollar amount. I.e. $3,000 cash due at signing is the same as $3,000 “equity” used from a trade. Money is money.

Ok, I fixed it. This is the first deal I posted here, still learning.