I brought my 2020 Kia Forte LXS in for service due to some issues and ended up chatting with a sales guy about the EV6. They’re running some leasing specials right now, offering $16,200 towards a new EV6 lease. They’ll also give me $13,500 as a trade-in on my car and refund me for the recent service. I still owe a bit under $4,000 on it, so in total, I’d get another $10,000 towards the EV6.
For a 10k miles/year lease, the payments would be $130/month for 24 months or $240/month for 36 months. The residuals would be about $30,600 and $27,000, respectively. I’m considering buying it after the lease but have never leased before and am not sure if it’s a good idea.
The EV6 felt amazing on the test drive—super fun, especially in sport mode! The controls might take some getting used to, but overall, I really liked it.
Some extra context:
I don’t drive a lot, just around town and the occasional 250-mile trip to visit my in-laws. I’ve only put 22,300 miles on my current car in four years.
I live in an apartment complex without any charging stations, but there are several Electrify America chargers within a 10-minute drive. They can do the full 350kW, so it shouldn’t take long to charge.
The main thing holding me back is the idea of trading in my car, which I don’t owe much on, for a lease. Part of me thinks it’s a bad idea, especially if the buyout ends up being more than the car’s value. But then again, they’re giving me $16k towards it, so I feel like maybe it’s worth it?
Any thoughts or advice to help me think this through would be much appreciated! Thanks!
EDIT: It’s a 2024 EV6 Wind with the Technology Package.
@Randy
Just going off my recent lease deal and what I’ve seen posted here. Mine was 0.87% of MSRP with zero down. My MSRP was $63k, and my payment is $550. I’ve seen some others around 0.79%.
izael said: @Randy
Just going off my recent lease deal and what I’ve seen posted here. Mine was 0.87% of MSRP with zero down. My MSRP was $63k, and my payment is $550. I’ve seen some others around 0.79%.
Interesting… would my area play a role? I’m in southern NH, and EVs/hybrids seem to cost more here. My mom got a 2024 Sonata Hybrid for $32k in southern VA, but here they’re closer to $39k.
izael said: @Randy
We’re in the same region. I’m in MA and got mine from McGovern Kia in Norwood.
I checked their website, and based on their numbers, a GT-Line would be about $300/month with the same trade and terms. How’d you manage to get it lower?
zendaya said: @Randy
For reference, I’m just south of Boston. I leased a 2024 Light with zero down, 15k miles/year, and 36 months for $360/month.
If I can get it to around $350/month with zero down, I’d probably go for it. Which dealer did you go through? I’m checking around to see if I can get a better deal.
@Randy
Don’t rely on the website for pricing. When I leased mine a few months back, the website showed $3k in rebates, but I got $18k by shopping around multiple dealers.
martin said:
If you’re going to lease and then buy, trading makes sense. Otherwise, it’s probably not worth it.
That’s what I was thinking too. But online advice and family members say buying at the end of the lease might not be a smart move. The residual on the 36-month lease is $27k, and sub-$30k EV6 Winds are selling for around $30-35k here. So it could work out.
@Randy
It’s a pricey car, so you’d be putting a lot of equity on the line if you’re just leasing to return it later. If you’re thinking of buying it at the end, that could make more sense. Otherwise, you might be better off paying off your current car and keeping it until you’re ready to buy outright.
Any chance your landlord could install an EV charger? If you have an assigned parking spot, they might be open to it if you show them the benefits. There are usually incentives available, and some reliable Level 2 chargers have tap-to-pay options, so they wouldn’t have to worry about covering electricity costs.
