@jabali
And if they won’t, do you think I should pass on the EV6? Is the trade-in-to-lease a bad idea or overpriced?
Randy said:
@jabali
And if they won’t, do you think I should pass on the EV6? Is the trade-in-to-lease a bad idea or overpriced?
Something to consider—what if the nearby Electrify America charger is out of service? EA chargers do have reliability issues from time to time. If you don’t drive much, maybe it wouldn’t be a big deal.
On the lease question, if you qualify for a low interest rate, like 2%, it’s better to put as little down as possible. The dealer could cut you a check for your trade-in, and you could put that money into a high-yield savings account instead.
Kia’s offering the $16.2k off, but the dealer should be discounting further. I’ve seen 8% off MSRP before the Kia discount. If they won’t budge, you might find better deals elsewhere.
@Kenneth
Thanks for the detailed advice!
I’m not sure I want the hassle either, which is why I’m asking. I believe the sales guy said the rate was 2%, but I’ll double-check. Selling my car and saving the cash could be a good fallback—maybe use it as a down payment if I decide to buy the EV6 after the lease.
Appreciate all the insight!
@Randy
One other thing—if you’re well below 10k miles a year, you might end up paying more per mile than it’s worth. Leases are best when you’re using most of the allotted miles. Buying at the end can make sense if you’re okay with a higher cost per mile. Otherwise, in a couple of years, you might find a similar used EV6 for less than the residual value.
Just food for thought. I like to be thorough on these decisions.
@Kenneth
So you’re saying buying at the end might not make sense financially because the residual could end up being higher than the market value? I was leaning towards buying it out, but yeah, that’s worth considering.
Not super OCD about finances but don’t want to make a dumb move either.
@Randy
Exactly. EVs tend to depreciate faster due to rapid advancements. Plus, with the used EV tax credit and more EVs coming off lease, prices might be lower in the future. But if you love the car and want to keep it, the extra cost might be worth it.
The lease is a nice option if you want to minimize the risk. You can always walk away at the end if it doesn’t feel worth it. Checking out PlugShare can help find other charging spots nearby in case that EA charger is down.
@Kenneth
Good points on the tech advancements and potential value drop. I didn’t even think about that!
PlugShare was super helpful—turns out there are a lot more chargers in my area than I thought, including at nearby dealerships. Thanks for all the advice!
Have you tried checking with other dealers to see if they can give you a better deal?
MAKENA said:
Have you tried checking with other dealers to see if they can give you a better deal?
Yeah, I’ve contacted every dealer within 50 miles. They’re all in roughly the same ballpark, so I might hold out for a better offer.