SIGNED! - 2022 Kia Niro EV EX - $42,420 MSRP - 36/15 - $379 p/mo, $379 DAS

Signed Deals & Tips
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Region: Northeast (NJ)
MSRP: $42,420
Agreed Upon Price: $42,052.85
Lease Cash: $10,800
Money Factor: 0.00116
Term: 36 Months
Mileage Allowance: 15,000 miles per year
Residual: $21,210 (50%)
Money Factor: 0.00116
Fees: $650 Acquisition Fee, $499 Dealer Fee, $238.50 Registration

$379.89 p/mo, $379.89 DAS

Not as good as my Leaf Lease (Sold one to Nissan Dealer) but I couldn’t pass on all that equity on a car that I would return with penalties. The programs made it a decent deal even at MSRP. Happy with the vehicle, and happy that I continued with electric.

3-day ordeal negotiating. (12/28) The first offer was $499, but I told them, and they knew I wasn’t playing with any “market adjustment” BS. The second offer was selling at MSRP for $395.85, told me that was it and I left. (12/30) Came back with my signer, serious to get a car, drove 40 minutes My goal on day one was $349, but I worked up to $365, after all, that I said to meet in the middle between $365 and $395 ($379), but they refused, left that day. (12/31) I get a call that morning saying if I wanted to get to $379, I would have to put first months + $500, but the salesman would cut me a deal and said I would only have to pay first months + $250 instead. I told him, no, its only $250 between us, make it work or it’s not meant to be. I was going to wait 2 hours and take the deal, but after 45 minutes I get a text saying the manager would take my deal.

The second-best dealer was offering $405, the dealer was selling at MSRP with a $499 dealer fee + $199 etching. Two other dealers were selling with mark-ups, $452 & $499.

This deal is likely one of a kind, they would probably only do MSRP deals on their remaining vehicles.

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Thanks for sharing and congrats on your new ride!

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Cold Weather Package here in the Northeast

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Thanks. Realized that after I totaled the different options.

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EquityHackr offered $33,676, payoff: $32332.69

Equity: $1,343.31
(-) First Payment, $379.89

Net Profit: $963.42

Nice to know I still have equity on a new car in this market… maybe I can get that BMW I always dreamed of… a good leftover loaner deal maybe :see_no_evil::hear_no_evil:

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I’ve been working Texas dealers on this for the past week and I know what it should be and they keep telling me $840 per month. Even with $3500 down one still wanted $650! I hate Texas dealers

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I believe in Texas you are required to pay sales tax on the full sales price of the vehicle instead of just the depreciation of the lease.

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New here to the leasing world. Considering my first least. On this deal did you put a down payment?

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Welcome to LeaseHackr! Here you wil be graced with all the info needed to lease and all the info and shared expertise to get a good deal on your first lease. I highly suggest you read over the “Leasing 101” tab at the top of the webpage to get a good footing. before you dive in.

As my title states, my payment was $379 per month with $379 DAS (due at signing) so I did not technically due anything else “down” except my first months payment.

I like to stray away from using the word down and rather use “DAS.” The term “down” refers to the full term “Down Payment” which is another word for “Capitialized (Cap) Cost Reduction” In any typical dealership lease advert you see they will usually say “$998 down” or whatever the number is, and that only goes towards your total payment to make them smaller. That “down” that they talk about does not include any dealer fees, accessories, registration fees, (sometimes) the acquisition fee, or any taxes. When you make a deal you want to know the total due at signing (DAS) of the lease, in my case I only did my first month’s payment. I could’ve even made it $0 if I wanted to.

The majority of people on here will tell you to put little to nothing down because, in the event of a total loss, you will lose all that money that you essentially pre-paid.

Additionally this deal is no longer replicable, even getting the “discount” that I did, the Feburary lease programs have changed, the money factor rose and the lease cash dropped. It’s at lease $20 more per month, probably more. I am a NJ resident, so our EV deals are sales tax exempt, keep that in mind.

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Thanks for the tip on the terminology I should be using!

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I really had no intentions of selling this one off, but I said goodbye to it yesterday, stay tuned for the completed profit post, it did better than the Leaf :joy: