Used the Tesla conquest discount to get a KIA EV6 Light Long Range RWD.
24-month/10k miles lease.
DAS (Due at Signing): $1500
Monthly payment: $217 + Tax
The monthly payment looks great, but I’d need to know how much discount you got on the car (not including the high lease cash incentive) to determine how good your deal is. The lease cash comes from Kia Finance, so the dealer discount on the car can further lower your monthly payment.
You also paid about $1283 more than your monthly payment at signing, which isn’t recommended on leases since you won’t get that down payment back if the car is totaled or stolen. You should try for a $0 down payment and roll that $1283 into the lease. That would have increased your monthly payment by about $54 or $55 to $272+tax, which still seems like a good deal.
@Connie
I agree that $0 down is better, but sometimes it’s not possible to get the same total cost with $0 down. For instance, the monthly payment might be closer to $80 more per month instead of $53 more. So it depends on whether you’re willing to pay more overall to reduce the risk of losing the $1283 if the car is totaled. When I leased my car, the $1500 DAS saved me the most money, and the extra down wasn’t a huge risk.
@jessicah
Please explain how you got $80 more per month to finance the additional $1283 because that doesn’t seem right. The money factor (MF) on EV6 leases is low (under 3%), so the increase should be closer to $54 per month. $1283 / 24 months = $53.46. There’s no way the interest and tax would add another $26/month.
@Connie
Those were the options I was given, possibly because I went through a broker. If I had the option for $0 down and only a $53 increase, I would’ve taken it. But I’m happy with the deal I got, even with $1500 DAS.