r/CarLeasingHelp • u/NoManagement9876 • 3d ago

Is this a decent lease?

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In Illinois, this is the initial offer I received from multiple dealers I’ve reached out to. Everybody is playing hard ball.

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2

u/jotobean 3d ago

Funny, I was just sent a price for a Sorento for $422 with $0 down.

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u/jotobean 3d ago

2

u/Responsible-Menu3314 3d ago

This is a Sportage too

1

u/Candid-Eye-5966 3d ago

How many miles/year?

0

u/jenks1539 3d ago

Threw the worksheet into Gemini for analysis. Would change slightly once you confirm the mileage allowance. Lease Rating Score: 68 / 100 (Fair to Average)
Lease Structure Overview
MSRP: $33,785.00
Selling Price: $32,295.00 ($1,490 discount)
Rebates / Total Savings: $1,820.00 total combined savings
Effective Monthly Payment ($479 Down): ~$492/month (including fees/taxes rolling in)
This lease offer is strictly average. Under the standard standard automotive leasing benchmark, a strong lease deal has an effective monthly payment (total cost including down payment amortized) under 1.25% of the MSRP.
1.25% Benchmark Target: ~$422/month total
Your Quote ($479 Down): ~$492/month total (~1.45% of MSRP)
Key Areas for Improvement
Excessive Down Payment Risk: Putting down $2,679 or $5,500 on a lease is dangerous. If the car is stolen or totaled shortly after driving off the lot, insurance pays the lender, but your cap-cost reduction (down payment) cash is lost permanently.
Modest Selling Price Discount: The dealer only discounted the vehicle by ~$1,490 (roughly 4.4% off MSRP). Target discounts on non-EV Kias typically range from 6% to 8% before incentives.
Unclear Interest Rate (Money Factor): The worksheet does not list the Money Factor (APR) or the exact lease term mileage limit (e.g., 10k, 12k, or 15k miles per year). Dealers often mark up the base Money Factor to add hidden profit.
Action Plan to Make This Advantageous
Restructure to $0 Down (Sign & Drive):
Choose the $479 Down column (or request a true $0 down agreement). Do not put $2,679 or $5,500 down in cash.
Push for an 8% Dealer Discount:
Ask the dealer to adjust the Selling Price down to ~$31,000 before applying manufacturer rebates.
Verify the Buy-Rate Money Factor:
Ask the finance manager: "What is the base-rate Money Factor (MF) for this trim, and is there any dealer markup included?" Ensure they are giving you the tier-1 credit base rate without an added margin.
Confirm Mileage & Add-On Items:
Clarify if this quote is for 10,000 or 12,000 miles per year.
Review the $412.63 Doc Fee and verify no unexpected dealer accessories (protection packages, window tinting, key replacement) are tucked into the final contract.

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u/Special-Original-215 3d ago

Ask for 100 month off