There’s obviously a disconnect between what you think you’re seeing in the quotes and what you’re putting into the calculator.
Dude…the numbers are there in front of me! Its simple, dealers around here are trying to make the biggest profit. Its whatever, I’ll move on but its getting comical.
If the numbers on the calculator are off by $50+/mo, then there is a disconnect between what you’re putting into the calculator and what the offer actually is. (doesn’t mean the offer is good, just that what you’re putting into the calculator isn’t reflecting what it actually is)
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Are you willing to look in the Seattle area? I’ve been looking at a Kira Niro EX EV (not premium). I found the best leases were at Kia of Kirkland where last month they offered $3500 down $176/mo for 36mo. But the best price was Kia of Everett where they are still offering a few for $33600, but the lease prices were awful.
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I drove 90 minutes each way to test drive a 2020 Niro EV EX Premium today and ended up getting laughed out of the dealership by the sales manager when I asked for a lease in the $250-300/month range. They offered $430/month with $500 down on 36 months at 10k miles per year.
The car I drove had a sticker price of $41,000 marked down from an MSRP of $47,000. It literally had cobwebs on it, and with it being the prior year model I started thinking they might be motivated to lease it and I was going to get some great offer like some of the ~$250/month 0 down leases that have been reported here and on other sites for the 2020 EX Premium.
I was pretty surprised to get a lease offer of $430/month and the sales manager was adamant that he couldn’t go any lower on it because the “incentives were fixed by Kia”. I did not get many lease details unfortunately but he did tell me there was a 47% residual. Also told me I could get a $250/month payment if I put $8,500 down…
It was a really disappointing experience especially considering the next closest Kia dealer with Niro EV inventory is 2.5 hours away from me. I have not had any luck getting lease quotes over the phone from regional dealers so I made the drive today to at least get some numbers in person.
I really liked the car and probably would have signed on the spot for something in the $250-300/month range but could not justify $430/month on a $41,000 EX Premium when the current national lease offer is basically $279/month for the 2020 Niro EV EX with $40K MSRP.
The Premium is basically impossible to get for less than $300 OTD . In Dec it was, but not now.
Take a look at the Hyundai Kona Limited. You get most the things in the Niro (no adaptive cruise or 10" display) but it does have a sunroof and the range. And the price should be in the $300 range.
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This is what happens when you ask the dealer how much they want you to pay.
You should never be talking numbers with a dealer without already knowing what the price should be and how to get there.
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Yeah, I came away from the experience feeling I just wasted 4 hours of my life by going in unequipped other than having a Leasehackr post to show the sales manager how someone in CA got the same car for $230/month with 0 down. I need to do some more research to figure out what the lease terms should be, when I went in today I figured that just because the car was marked down from MSRP I was going to see a good savings on the lease terms.
Lease payments are highly dependent on region, personal qualifications, tax rates, etc. You can’t just hold up a lease payment in a different region and expect it to be the same.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
- Read Leasing 101 (Blog | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!!
- Pick a specific vehicle that you want to target
- Gather the current MF, RV and incentives from Edmunds forums for your zip code
- Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
- Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
- Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
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That’s great help, thanks! I really liked the Niro I drove today, so at least I did gain that test drive experience for my time spent. I’ll spend some more time on here figuring out how to identify my target price and hopefully have a better experience the next time around.
Just remember, going to dealers is for test driving and taking delivery on a deal you’ve already negotiated.
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In dec they changed the RV from 47% to 55% I believe. It made a lot of difference on the payments. Then they changed it back.
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First rule of Leasehackr- never mention LH to dealer. (esp showing them a print out).
Second rule: see rule #1!
IMO, you would be wise to learn how deals are structured and understand how to correctly fully utilize the LH Calculator. (and research what the current market data points are for determining a reasonable deal to propose to them).
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Yeah… I am living and learning when it comes to this. 
I’m trying to figure out how the dealer arrived at the $430/month lease on the car marked down from $47k to $41k with 47% RV and $12.5k in incentives. I am guessing on fees here but the calculator is coming out to $308/month: CALCULATOR | LEASEHACKR
Does “pre-incentive discount” just refer to the price that was taken off of MSRP? It looks like the only way I can get close to $430/month is by adding $ onto the Selling Price on the calculator for these lease terms. I am wondering if they were giving me lease numbers on the full $47k MSRP instead of the $41k sticker price.
I did notice one strange thing, that this dealership had 2 identical 2020 EX Premiums on the lot… one with a sticker price of $41k (showing a $6k discount) and one with a sticker price of $47k.
You are missing a big factor- the MF. What is the buy rate? (confirm with Edmunds). What mark up are they offering? Are there any incentives you are eligible for?
Dealers like to quote a “discount”, but they typically like to roll everything to “post-incentive”.
Don’t fall for the come in person and we can give you the best deal- where they will play the 4 squares game with you to wear you down.
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It would not surprise me if the $41k was after incentives, meaning this was marked up over msrp to start with.
Moral of the story is dealer advertised prices are irrelevant and are best ignored.
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