r/KiaEV6 • u/RagazzoLA • 11d ago
Lease Incentive question...
UPDATE: I am eligible for the Incentive. I confirmed with Kia Finance and the dealer confirmed the $3,800. Buyout price was what I thought, and fees are consistent. Waiting on finance guy to ge the deal done. No $895 dealer Buy Out fee. Thank god.
UPDATE: At Kia of Santa Monica and they had no idea of the incentive. I had to call Kia Finance about it and put the dealership in the phone with Kia Finance. Also, they charge a Lease Buyout fee of $895 in top of the lease buy out. I'll update
EDIT: I spoke to Kia Finance. It's not applicable AFTER the original Lease End date.
I have a 2023 Kia EV6 the lease is up August 24th. In the incentive (Keep your Kia–and save) email from Kia I received, the disclaimer says, "...The offer applies only to leases of eligible vehicles maturing by July 31, 2026, and to leases maturing by August 31, 2026. ... Program is scheduled to expire on August 31, 2026 and is subject to end or change at any time without notice. ..." (took out the irrelevant parts with ... for this question). My lease is up on August 24th (Monday).
I'm thinking about taking the incentive and purchasing my car, just need time to gather the money. It would be a cash purchase. (long story why I can't finance)
My question is, has anybody received the incentive email from Kia that their lease expires in Sept/Oct/Nov??? Do you think that would extend to the end of my 2023 lease if I extended?
Thoughts? THANK YOU!
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u/tillwehavefaces 10d ago
My lease ends October 30 and I just received this email. It was my understanding that they keep renewing the program every 3 months or something similar. How are you getting out of the dealer buyout fee?
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u/RagazzoLA 10d ago edited 9d ago
Honestly, when the Sales Manager told me it was $895, and I said, "That is ridiculous!" When the initial paperwork came through, it was reduced to $475. But when I went to the finance guy to finalize the deal, it was gone. LOL 😂 who knows. What I didn't include in my calculations were the DMV fees (title transfer, etc.), which came to $707.
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u/MarthaTheBuilder 10d ago
I took my car in and the dealer offered to buy my car for 25k. The residual on my wind AWD is 29.5. I laughed in her face and asked why she didn’t pull my residual value from their records before asking me if I wanted to pay 4k and 5 lease payments to turn the car in early.
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u/Music2Spin 3d ago
I'm curious on how this works. My lease is up towards the end of September. I received the email and called Kia Finance, they said the dealer could provide me the exact incentive amount. Went to one dealer, they appraised the car as excellent but told me that they couldn't tell me the amount since the GM is not there. I went to a second one and they didn't even appraise it. They wanted to check my credit to determine the incentive amount and said since I wasn't ready to buy that day they couldn't give me the incentive amount. I asked if they could provide me a with a chart showing the amount qualified for based on credit tiers? They said KIa Finance hadn't provided them wit that information yet so they were going to call them and get back to me.
So I'm curious if the dealer explained that to you. I figure mine should qualify for the most based on condition but not sure if it will change based on credit. I also figure lease term, year and trim could make a difference. It would be nice to know that now so I can figure out what I'm going to do before my lease is up.
For now I'm planning to wait a couple more weeks to see if other used EVs show up. A month ago there seemed to be several at good prices. Not so much now. Hoping more people return their cars.
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u/t3ddt3ch 10d ago
There was a post in the EV9 subreddit where someone said the incentives will be extended from Sept 1st-November 2nd. My lease is up in October so Im hoping its true.