I have two options: a 1-year-old Certified Pre-Owned (2023, 17k miles) EV6 GT-Line for $33K or a brand-new EV6 Wind for $40K.
For the CPO, the dealer says I still get the 10-year drivetrain warranty, but I won’t get the 1,000 miles of free charging. Anything else I should consider?
Also, to get the Wind at $40K, I need to finance through Kia for the $7,500 Kia cash. Can I pay off that loan quickly? Is that a catch?
Honestly, you might be able to score a great lease deal, especially with the current tax credits. Low down payment, lower monthly costs, and you can return the car after 3 years.
By the way, I think some updates are coming in 2025, like wireless CarPlay and better sound insulation, if that matters to you.
zendaya said:
Honestly, you might be able to score a great lease deal, especially with the current tax credits. Low down payment, lower monthly costs, and you can return the car after 3 years.
By the way, I think some updates are coming in 2025, like wireless CarPlay and better sound insulation, if that matters to you.
Thanks! I don’t qualify for the tax credits since I earned too much this year.
zendaya said:
Honestly, you might be able to score a great lease deal, especially with the current tax credits. Low down payment, lower monthly costs, and you can return the car after 3 years.
By the way, I think some updates are coming in 2025, like wireless CarPlay and better sound insulation, if that matters to you.
Thanks! I don’t qualify for the tax credits since I earned too much this year.
If you’re leasing, the tax credit goes to the leasing company, and they pass it on as lease cash to you. So your income doesn’t matter for the lease deal. Right now, the lease cash is really good for the 2024 models. For example, in my area, there’s $15,700 in lease cash for a 2-year lease on the 2024 GT-Line AWD, and $13,700 for a 3-year lease.
You can check out lease details for your area on the Edmunds forum if you want to know more.
abidemi said:
zendaya said:
Honestly, you might be able to score a great lease deal, especially with the current tax credits. Low down payment, lower monthly costs, and you can return the car after 3 years.
By the way, I think some updates are coming in 2025, like wireless CarPlay and better sound insulation, if that matters to you.
Thanks! I don’t qualify for the tax credits since I earned too much this year.
If you’re leasing, the tax credit goes to the leasing company, and they pass it on as lease cash to you. So your income doesn’t matter for the lease deal. Right now, the lease cash is really good for the 2024 models. For example, in my area, there’s $15,700 in lease cash for a 2-year lease on the 2024 GT-Line AWD, and $13,700 for a 3-year lease.
You can check out lease details for your area on the Edmunds forum if you want to know more.
I’m new to leasing, so I need some help understanding it.
I get that RV is the residual value, and MF is the money factor. But where do the lease incentives come from? Are the numbers posted in that Edmunds forum including all the incentives, like state and federal? Or is it just the federal IRA rebate?
In Washington, we have a $9,000 state lease rebate that stacks. So if there’s a $7,500 federal rebate, $5,000 from the manufacturer, and $9,000 from the state, does that mean there’s a $21,500 reduction in capitalized cost? Did I get that right?
If the new car is a 2024 model year, then you won’t be missing out on anything major by choosing a CPO 2022 or 2023 model.
However, if the new one is a 2025 model year, there are some mid-cycle updates like wireless Apple CarPlay and Android Auto, manual battery preconditioning, and better OTA updates. But honestly, for $7K savings, I’d be willing to skip those.