I had trouble finding a luxury 3 row SUV that leases decently well. I finally found out that the Telluride has a RV of 68% on the EX trim at 12k miles a year (66% on SX). The difficulty was finding a dealer that would not charge an insane markup. I found one using Sam’s Club True Car in my area that did not (just a $798 accessory fee that comes with tinting of windows). I will have to wait a while for it to be delivered, but it’s a reasonable solution in the $600s for a pretty great SUV. I will update once I get car on exact details of numbers. Also, worth noting is I had to put down a $1000 refundable deposit that can be cancelled by me at any time. I’ve noticed that some of the Kia’s have pretty good RVs so it might be worth looking at some of the other models as well (like K5 or Carnival).
If the numbers are not final as in signed on a contract, dealer will still pull a bait and switch.
Post the entire deal so that people can comment whether it’s a good deal or not.
Like I said, I just put a deposit on it and the lease will be finalized once it is delivered, but this should give you a decent idea:
I (would) rather buy it…
What is the market adjustment for? Seems like a steep payment for a $39k base model but I guess that’s the market. Buying it seems like a better idea as mentioned above.
i think this just proves that Telluride DOESN’T lease well.
that is an effective payment of $685/month.
At almost $700/mo on a $40k vehicle, youd likely be much better off purchasing.
The 3+% of msrp mark up here doesnt help either.
$242/mo in interest.
At $38k MSRP, not sure if it’s a base (LX) AWD or an S FWD but either way it’s not well equipped.
So effectively ~$700 for what it is by today’s standards a rather barebone SUV is definitely not the definition of leasing well.
NTM these were holding value well even before chip shortages, so the TCO of purchasing is going to beat the TCO of leasing the way Mike Tyson used to beat up people.
Over 3 years you are paying $8722 in interest. Check out what your cost would be to purchase and finance it.
Good lease should mean 1% MSRP at least, yours are near 1.5% …
You should just finance it, lock a low 84 month loan rate.
Ooof OP thinks a $600 payment on a 41k car is leasing “well”. Oh boy just buy it dude.
I would see if Kia dealer/captive bank offering lender tax credit. Could save you $60/mo.
“Good lease” has never meant “1% of MSRP” and never will
615 x 72 months = 44k … I would definitely pay up to 650 a month to buy this car
In this market it does
Hey guys not sure if you saw the original post, but I did say I was ordering the car and the lease numbers would be finalized then. Yes the MF on this is bad, but the RV is really good. All other SUVs I have seen are around 50-54%. Hopefully, when the time comes, MF will be better. I can also cancel at anytime if the market improves and there are better lease deals. Oh and btw I ended up ordering the SX prestige, which has a RV of 66% on a $52k MSRP. Point is in this market most other Kia dealers in my area wanted a 10-20% market adjustment (vs this dealer at 1%). Combine that with the solid RV, this was the best lease I could find. Compare it to any other 3 row, and I would be shocked to see a better deal. And yes, I can choose to Finance or buy all cash as well once the car arrives.