Don’t forget that you need to check the carfax as there is one more rule you need to ensure hasn’t been already claimed
If someone flipped that car, you won’t get the $4k.
What are you trying to accomplish? Why get a rid of a car with such a low payment? plus your car will be cheaper and has lower miles if you decide to buy it. Makes no sense to do something right now. None of these EV’s will be more expensive come March. The $4k is eaten up by the price difference on the two cars.
Go for it, some of the best deals on LH have come from people trying the seemingly impossible
I’m gonna try.
Speaking of impossible, I may have another idea. They have a Kona Electric SEL for $23,881 with 20,352 miles. The KBB CPO is $21,073, so if I can get them down to that, plus have them subtract my positive equity on my lease, I’m looking at $8,217.62 after $4k federal and $6k state rebates. If I can’t haggle them on my lease equity or the list price, it’s still $13,881 plus taxes/fees and all I have to do is trade in an old gas car which I can do. I think I’ll try this first.
Get your target deal structured and present it to the dealer and see if they would play the ball, no harm in trying!
At least upgrade to a Kia Niro Premium EV.
The Kona is a little tiny thing. I had one
How much did you put down on the original lease to get a payment of $150/ month?
If the same car is selling CPO by the dealer at $22K, they are not going to offer you much more that your buyout price in trade is what I suspect. They will want to make a couple grand on the trade after reconditioning and CPO expenses.
It does not hurt to ask, but not sure it is worth the hassle to take a vehicle with more miles to save a few dollars over one you know. Buy yours in March and flip it later.
$2,000, but I had a $1,500 after-purchase rebate plus a $50 referral visa gift card.
Just to add, 4k tax credit will get taxed, so sticking with your current one still looks like best bet.
I was curious about that. It is going to be transferred to them though, so it becomes a point of sale rebate. Is it still taxed in this case?
I’d guess it depends on the state. I’m in CA – we get taxed on it from what I read. MA maybe different, but I’d think similar being both are liberal than most.
Ok, so I talked to a different Hyundai dealership. I got them to do a $1,000 discount on their listed price with my lease trade in. I think they can do $2,000 off, so I am going to my local dealership to get another offer. I should be able to stack $9,000 in federal and state rebates on it (which should also reduce sales tax). I’m looking at a 2020 Kona EV Ultimate with 50k miles for $20,900 if I use their financing, which I should be able to put a hefty down payment on and then pay off entirely after 3 payments. I think the net cost was about $13k including taxes and fees. Their 2020 Ioniq EV Limited with 25k miles was $19,900 (not including rebates or trade in discount), but I feel like the Kona’s the better deal at $20,900, right? What do you guys think?
Do you have proof the the low conductivity coolant flush has been performed? That’s a $500 item every 40k
Thank you for mentioning that! I will ask.
Is your significant other (a bit of an assumption here) also on the current title? If not, can they purchase your current car if a dealer is willing to just charge you some fees for their services? Your current car seems to be safest bet in a number of ways
Update: Still haven’t bought because the Kona they had listed wasn’t ready yet. It’s ready now so I will take a look on Monday. I’m not sure though because they have another Kona that’s more expensive but less miles.
Would you do $20,700 for 2020 Gray Kona EV Ultimate with 51K miles or $22,500 for 2020 Blue Kona EV Ultimate with 18K miles? Both in great condition.
lower miles the better on an EV.
If you do get the Kona, google how to turn off the VESS (The beeping noise). I did it without any tools.
Neither, but since you seem hell bent on doing this, I would go with the lower mileage vehicle. Is the lower mileage still under warranty? Batteries are only warranted for so many miles. Consumer reports named these Kona’s the least reliable EVs on the market.
Ok, so here’s what I signed.
+$20,200 for CPO 2020 Hyundai Kona EV Ultimate with 51k miles.
-$974 for lease trade in (15k under mileage)
-$4,000 for federal used EV tax credit (transferred to dealer for point-of-sale discount)
-$5,000 MA MOR-EV+ rebate (point-of-sale discount)
+$120 registration fee
+$495 dealer doc fee
+$730.94 sales tax
= $11,571.94, not including financing at 9.5% which I’m paying off in a few months.
I think I got a pretty good deal. The other Kona with less miles got sold before I could get it. I had to show them the IRS website and brochures to convince them about the $4k federal rebate transfer election. It seemed like news to everyone, including other dealerships.