forum thread Posted by coolfan195 • May 24, 2025
May 24, 2025 9:26 PM
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forum thread Posted by coolfan195 • May 24, 2025
May 24, 2025 9:26 PM
My local Kia dealer has this deal (Niro EV). Is this a good one?
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- Documentation fee of $499.
- Pricing based off of same MSRP units and Tier 1 Lease rates, 720 FICO score with approved credit with CULA and 10K miles per year.
As expected, the deal is subject to credit approval
The monhly cost sounds like it's going to be about half the total cost ($3600 in monthly costs, plus $3500 up front, and it'll probably end up being a a bit more). Which means you're going to lose $7200ish to get the car for 3 years. That's about 21% of the cost of the car. However, Google claims the average car depreciates 16% in it's first year, and 12% in subsequent years, so on average you should expect 40% depreciation rather than the 21% loss you locked in. By comparison, I recently read an article claiming that Cybertruck owners were losing 35% of the value of their car after 1.5 years. I'd also expect Kias to depreciate faster than average (though not that fast).
That said, I see a few caveats. The first is the obvious caveat, it's a lease. You are restricted on mileage (and to less than averge which might mean that a car driven 30k miles in 3 years would only depreciate 30-35% instead of 40%), and they could charge you fees for damage.
There's one more big caveat. It's electric. I dont think that's desireable unless you have a home charger and a home charger is going to cost money if you don't have one. If you buy a car and hold it for 200k miles the charger cost is probably negligible, but if you're only putting 30k miles on it and keeping it for 3 years unless you plan to keep using it somehow, it could alter your calculation.
Of course, factor in that public DC Fast charges are more costly, and driving >60mph reduces efficiency, as does winter temps. But it is nice to leave your house every morning with a "full tank".
But seriously I think there was some thread about an electric Acura lease for $7k for comparison. Nevermind that was for 2 yrs but msrp is $65k on that rebadged prologue.
This might not be a deal post, but I wanted to have feedback if this deal is good to check.
They have a Memorial day deal and one of them is Niro EV for $3000 down and $99/mo for 36 months.
I'm on the market for a new car, preferably SUVs, with a tight budget (<$35k), but this lease deal looks like a good deal although it's a compact car. I usually drive myself except for a morning ride of my two children.
Thank you!
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