Just wanted to get some feedback on lease prices. I'm in Michigan and looking at the EX Premium.
I'm doing a 36/15,000 $0 down. The dealership gave me numbers at $482/month, to which I almost audibly laughed out loud. I told him absolutely not that is insane. He immediately walked it back to his manager and moments later said they could get it down to $433 a month. I told him thanks for the time and he has my contact information if things change. Is this what these cars are leasing for?! I absolutely am in love with this car but I'm not paying anywhere near $400+ for it. I'm currently at the end of my VW Golf lease. I'm also debating just buying instead of leasing, but if the lease price is right then that's what I'll do.
I'm exploring other options (RAV4 and the like) but I keep coming back to that sweet Niro.
If you haven't already, check with the Edmunds forum on Niro leases:
You can ask the moderator for the current money factors, and residuals, and then plug your numbers into a lease calculator to get monthly payments. Don't know if your figures above include sales tax or not.
I'm seeing currently residual is somewhere around 53% of MSRP for a 3yr/12K lease. A 15K will be a little lower. It looks like the money factor is around 0.0022 (5.28%). There is $3000 Kia lease cash, I believe. Your monthly lease will depend on your capitalized cost, which is essentially all your upfront costs (vehicle price, additional dealer costs, lease acquisition fee, etc, factoring in the $3000 lease cash).
The current Niro money factor is pretty high, and the residual is pretty low, so you're going to have a tough time going below $400/month. The interest charges alone are more than $80/month. Taxes at 7% are about $20/month.
I leased my 2017 LX with adv tech package for $330/month, sign and drive, including all taxes, no money down. The EX premium is $6K more than this, so you would be leasing 47% of this or so, around $2800 more than mine. This will add about $80/month just for the principle, plus the extra interest and tax.
If your capitalized cost is $30,000 (with no sales taxes), for example, my lease calculator says $486/month including monthly sales tax. For a 12K mile lease.
If your cost is $29,000(with no sales taxes), it goes to $454/month, including monthly sales tax.
$433 doesn't look too bad, especially if it includes sales tax.
Caveats apply. I don't have access to the exact lease terms. Check the Edmunds forum above. Sometimes these are different for each state.