Kia is rolling out some serious discounts on the EV6 and EV9 models. You can save up to $12,000! Anyone else thinking of taking advantage of this? How do you think this will affect the market?
I leased mine and love it, but now it doesn’t make sense to buy it out when the lease is up. I’ll be sad to give it up, but I just can’t see how buying would make sense now.
MAKENA said:
I leased mine and love it, but now it doesn’t make sense to buy it out when the lease is up. I’ll be sad to give it up, but I just can’t see how buying would make sense now.
Wait, don’t you get to buy the car at its residual value after the lease? Wouldn’t that make it more affordable?
MAKENA said:
I leased mine and love it, but now it doesn’t make sense to buy it out when the lease is up. I’ll be sad to give it up, but I just can’t see how buying would make sense now.
Wait, don’t you get to buy the car at its residual value after the lease? Wouldn’t that make it more affordable?
Yeah, the buyout price is set when you sign the lease. But even if the market value drops, that buyout price stays the same. If used car prices crash, you’d be paying more than what it’s worth.
jessicah said:
MAKENA said:
I leased mine and love it, but now it doesn’t make sense to buy it out when the lease is up. I’ll be sad to give it up, but I just can’t see how buying would make sense now.
Wait, don’t you get to buy the car at its residual value after the lease? Wouldn’t that make it more affordable?
Yeah, the buyout price is set when you sign the lease. But even if the market value drops, that buyout price stays the same. If used car prices crash, you’d be paying more than what it’s worth.
I have a feeling that by the time our leases end, Kia might offer incentives to buy out the lease. It could be a way to deal with the depreciation issues.
jessicah said:
MAKENA said:
I leased mine and love it, but now it doesn’t make sense to buy it out when the lease is up. I’ll be sad to give it up, but I just can’t see how buying would make sense now.
Wait, don’t you get to buy the car at its residual value after the lease? Wouldn’t that make it more affordable?
Yeah, the buyout price is set when you sign the lease. But even if the market value drops, that buyout price stays the same. If used car prices crash, you’d be paying more than what it’s worth.
That just seems messed up! Why would anyone buy the car if it’s worth less than the residual value? I’m learning a lot from this, thanks!
MAKENA said:
jessicah said:
MAKENA said:
I leased mine and love it, but now it doesn’t make sense to buy it out when the lease is up. I’ll be sad to give it up, but I just can’t see how buying would make sense now.
Wait, don’t you get to buy the car at its residual value after the lease? Wouldn’t that make it more affordable?
Yeah, the buyout price is set when you sign the lease. But even if the market value drops, that buyout price stays the same. If used car prices crash, you’d be paying more than what it’s worth.
That just seems messed up! Why would anyone buy the car if it’s worth less than the residual value? I’m learning a lot from this, thanks!
Yeah, residuals on EV6 and Ioniq 5/6 have been set really high to keep lease payments lower. But there’s a lot of inventory, so who knows what will happen in 2-3 years. The used EV market could either crash, or maybe the demand will still be high. If used prices drop, you’d just return the car and then buy it cheaper as a used vehicle.
jessicah said:
MAKENA said:
jessicah said:
MAKENA said:
I leased mine and love it, but now it doesn’t make sense to buy it out when the lease is up. I’ll be sad to give it up, but I just can’t see how buying would make sense now.
Wait, don’t you get to buy the car at its residual value after the lease? Wouldn’t that make it more affordable?
Yeah, the buyout price is set when you sign the lease. But even if the market value drops, that buyout price stays the same. If used car prices crash, you’d be paying more than what it’s worth.
That just seems messed up! Why would anyone buy the car if it’s worth less than the residual value? I’m learning a lot from this, thanks!
Yeah, residuals on EV6 and Ioniq 5/6 have been set really high to keep lease payments lower. But there’s a lot of inventory, so who knows what will happen in 2-3 years. The used EV market could either crash, or maybe the demand will still be high. If used prices drop, you’d just return the car and then buy it cheaper as a used vehicle.
By the time my lease is up, the EV3 might be out. That could be a good option if it’s priced similarly to buying out my EV6.
jessicah said:
MAKENA said:
jessicah said:
MAKENA said:
I leased mine and love it, but now it doesn’t make sense to buy it out when the lease is up. I’ll be sad to give it up, but I just can’t see how buying would make sense now.
Wait, don’t you get to buy the car at its residual value after the lease? Wouldn’t that make it more affordable?
Yeah, the buyout price is set when you sign the lease. But even if the market value drops, that buyout price stays the same. If used car prices crash, you’d be paying more than what it’s worth.
That just seems messed up! Why would anyone buy the car if it’s worth less than the residual value? I’m learning a lot from this, thanks!
Yeah, residuals on EV6 and Ioniq 5/6 have been set really high to keep lease payments lower. But there’s a lot of inventory, so who knows what will happen in 2-3 years. The used EV market could either crash, or maybe the demand will still be high. If used prices drop, you’d just return the car and then buy it cheaper as a used vehicle.
Why would anyone pay $30-35k for a used battery?
Imani said:
jessicah said:
MAKENA said:
jessicah said:
MAKENA said:
I leased mine and love it, but now it doesn’t make sense to buy it out when the lease is up. I’ll be sad to give it up, but I just can’t see how buying would make sense now.
Wait, don’t you get to buy the car at its residual value after the lease? Wouldn’t that make it more affordable?
Yeah, the buyout price is set when you sign the lease. But even if the market value drops, that buyout price stays the same. If used car prices crash, you’d be paying more than what it’s worth.
That just seems messed up! Why would anyone buy the car if it’s worth less than the residual value? I’m learning a lot from this, thanks!
Yeah, residuals on EV6 and Ioniq 5/6 have been set really high to keep lease payments lower. But there’s a lot of inventory, so who knows what will happen in 2-3 years. The used EV market could either crash, or maybe the demand will still be high. If used prices drop, you’d just return the car and then buy it cheaper as a used vehicle.
Why would anyone pay $30-35k for a used battery?
Same reason people pay for used ICE cars—they still get the job done!
Imani said:
jessicah said:
MAKENA said:
jessicah said:
MAKENA said:
I leased mine and love it, but now it doesn’t make sense to buy it out when the lease is up. I’ll be sad to give it up, but I just can’t see how buying would make sense now.
Wait, don’t you get to buy the car at its residual value after the lease? Wouldn’t that make it more affordable?
Yeah, the buyout price is set when you sign the lease. But even if the market value drops, that buyout price stays the same. If used car prices crash, you’d be paying more than what it’s worth.
That just seems messed up! Why would anyone buy the car if it’s worth less than the residual value? I’m learning a lot from this, thanks!
Yeah, residuals on EV6 and Ioniq 5/6 have been set really high to keep lease payments lower. But there’s a lot of inventory, so who knows what will happen in 2-3 years. The used EV market could either crash, or maybe the demand will still be high. If used prices drop, you’d just return the car and then buy it cheaper as a used vehicle.
Why would anyone pay $30-35k for a used battery?
A 2-3 year-old battery isn’t really an issue, especially if it’s a quality one. But if you can get a new EV for the same price, like the upcoming EV3, why go for a used one?
Good thing I plan to drive mine until it dies, so I’m not worried about depreciation!
I’d trade my EV6 for an EV9 in a heartbeat, but with how much values have dropped, I’d be way upside down on it unless I made a big down payment.
martin said:
I’d trade my EV6 for an EV9 in a heartbeat, but with how much values have dropped, I’d be way upside down on it unless I made a big down payment.
I got a big discount when I bought mine last year, and I’m driving it into the ground. So, depreciation doesn’t really matter to me.
martin said:
I’d trade my EV6 for an EV9 in a heartbeat, but with how much values have dropped, I’d be way upside down on it unless I made a big down payment.
I’ve got an Ioniq 5, and I love it, so I’m not planning to sell anytime soon. But I did get an offer from Carvana for $19,600 on a car I paid $50k for two years ago. That’s some crazy depreciation!
martin said:
I’d trade my EV6 for an EV9 in a heartbeat, but with how much values have dropped, I’d be way upside down on it unless I made a big down payment.
I made a big down payment and I’m still upside down. But I’m planning to keep it, so I’m not too bothered.
martin said:
I’d trade my EV6 for an EV9 in a heartbeat, but with how much values have dropped, I’d be way upside down on it unless I made a big down payment.
I traded in my old car and paid MSRP, so I’m not upside down… unless my car is worth less than $20k!
This is making me seriously consider selling my XC90!
Sadly, not available in Canada. 
Mark said:
Sadly, not available in Canada.
We always get left out. Booo!