Texas Taxes and Cash Lease Rebate Question

Hello all,

Looking to get some feedback on a lease I’m looking at to make sure everything is correct. It seems a little high from the dealer. It’s a 2018 Kia Stinger GT2 AWD.
Tax is calculated in with the monthly payment.
Google Docs link

With my calculator (linked in Google Docs) it came out to $677 a month, I’m just not sure I did the taxes with the lease cash correctly.

Here is what the dealer came up with…
MSRP: $52,625
Gross Cap Cost (Taxes and fees included): $56,337
Money Factor. 0.00181
Residual Value: 52%
Bonus Lease Cash: $7,200
Tax: 6.25% (Texas, so taxed at full price)
$1000 Down
$2000 Trade in

Net Cap Cost: $46,902
12,000 Miles / 36 Months
$760 /month

The better question is are you willing to part with almost $800 for a car that will be heavily discounted in just a few months all while receiving likely subpar service from a Kia dealership?

Lol even $600 does not make sense.
It’s a bad idea when a halo type car ends up at a Kia dealership. They treat it like it’s a flipping Ford GT.

IDK for nearly $700 a month there are some really good options available. An LC500 is probably way more than that, but maybe an A7? M5? Alfa QF? Maserati?

Yeah, I understand there are cheaper and other cars out there, not really looking to get into a car brand debate. Just looking to see if my dealer did all the calculations correct, any help would be great.

Wait a few months. Kia will be blowing these out at $399 range.

1 Like

I should’ve left out the make… lol you guys are super hung up on that. :joy:

If anyone understands Texas taxes and cash lease rebates, that’s all I’m asking for.

Looks about right. 20 char

Awesome yeah I think it is too.

I found that my monthly lease payments were about $100 higher then they should’ve been. I called my dealer and they said that “we were using the worst Money Factor in your quote (0.00301) because we had not submitted it to Kia yet, it should change back to 0.00181 once we submit it.” I’m not sure if that was all true or if they were just trying to get more money out of me… So all I will say is this, spend an hour learning how to calculate your own lease payments and then compare them to what the dealer gave you!

they tried to play you. MFs are set but can be marked up.