Rough lease estimates for the Seattle area

[BigEdgar]

In case this helps anyone... I emailed some dealers in the Seattle area this weekend about Soul EV leases in the Plus (+) trim. Some caveats:

1. I didn't spend much time going back and forth with the dealers, so there's tons of missing info (what options are on the car? What's the MSRP? Etc.)
2. I didn't tell the dealers I was ready to purchase today, so I'm guessing they didn't give me their best price.
3. Money Factor was Tier 1 for all quotes
4. WA State sales taxes (~10%) were included in all the quotes

So here's what I received for quotes (all leases were 36 month / 15k miles per year):

Dealer 1: $2k down / $325 per month / Total lease cost of $13,700 (residual 44%)
Dealer 2: $2600 down / $300 per month / Total lease cost of $13,400 (didn't get the residual)
Dealer 3: $0 down / $444 per month / Total lease cost of $15,984 (45% residual)

Dealers 1 and 3 based their numbers off of MSRP - $7500 Fed Rebate - $1000 Kia Cash. Dealer 2 based their numbers off of *Invoice* - $7500 Fed Rebate - $1000 Kia Cash (their invoice price doesn't appear to be very generous).

From the other posts I've read here, these numbers seem really high. Others have posted numbers that roughly equate to a total lease cost of between $10,500 - $11,500 (this is what you'd get if you had something like $2500 down and $250/month, or $0 down and $300/month). It's possible that these dealers quoted vehicles with higher trim packages (Sun and Fun, possibly?), but it's also possible that they're not going to give their best prices to some guy casually trolling them on the Internet

Anyways, just wanted to share in case it helps others in the PNW.

 

[user 284]

I don't live in WA, and I haven't looked at leases much, but I thought Soul EV leases were advertised online at $249/mo for the base level, and $289 for the + (plus) model. Plus, I just read that the fastest selling EV last month was the BMW i3, with advertised 2-year lease deals of only $229/mo. I would assume there would be some downward pressure on Soul EV lease deals based on that comparison.

 

[looey]

My first post!

I just signed a 3 yr 30k miles lease with Chuck Olson Chevrolet/Kia yesterday for an EV+ with home link option.

The numbers you posted above are very similar to the responses I had gotten in the same timeframe. I had five or six emails out to dealers within 50 miles. After sitting for a month, I was contacted again by two dealers recently and one came down after a little haggling. All done over email.

End result was 3yr 30k miles for $1800 down and $288/month. That's with homelink but no sun & fun. Why 30k miles instead of 36k? I've a 20 mile roundtrip commute, I've never hit 10k miles/year in my gas car in 15 years of ownership.

Money factor was .00059, residual at 30k miles was 44% (it was 43% at 36k). Cap cost can't remember exact number, but $34323 sounds about right.

Hope that helps someone. It is my first lease. Hopefully I don't get screwed at the end with wear and tear (I declined ask of the finance guy options).

Hope that helps someone.

 

[DucRider]

I
4. WA State sales taxes (~10%) were included in all the quotes

If the sales price is <$35K, there is no state sales tax

Trade-ins and the fed tax credit do not reduce the selling price, but the $1K Kia cash might.

 

[ALF]

I just got a quote from Performance Kia in Everett for the base model:
$1999 down, $249/mo. for 36 months, 1,000 miles/mo. That's $10,963 total for 36 months, averaging out to $305/mo.

I am going in this week for a test drive and to see if that is the best they can do.

I'm driving a 2012 Nissan Leaf right now that goes off-lease in April. Got a too-good-to-pass-up lease deal 3 years ago from Nissan, but its pretty clear a new lease for an EV is going to cost me more.

 

[ALF]

Took a test drive yesterday, and really like it! Taught steering and suspension, but smooth over the bumps. Feels very spacious despite the small size. Very well-though-out controls.

Performance Kia initially quoted me higher lease terms than those mentioned in my previous post, but quickly came down to those number ($1999 down, $249/mo.). This is similar to the numbers I'm seeing for a 2016 Leaf SL, which has a little more range.

 

[ALF]

Just leased a base Titanium Soul EV from Lee Johnson Kia, in Kirkland. $2,706 up front, including all fees and first monthly payment. $198 per month for 36 months and 12,000 miles per year. Interestingly, the total cost of the lease stayed essentially the same, even if we offered to put more down.

Now all we have to do is convince them not to ICE-up their own DC Quick Charging station!

 

[user 506]

Got a quote from Lee Johnson Kia on a Soul EV+, 36 month/12K

Cap Cost = $34,919
Money Factor = 0.00041
Rebates = $11,000
Amount Due at Signing = $2743 (includes 1st month, doc, fee, licensing)
Total monthly payment = $207

I gather that monthly payment is sales tax exempt since cost is < $35K. Going to check it out tomorrow.
--
Update: ended up leasing it for $743 down, $262/month.

 

[sfromwa]

I got a great deal from Lee Johnson Kia on an EV+ with the Fun & Sun package. MSRP was $38025 and I got a 36 month/12K lease, $743 down, $240 per month. The car had a few extra miles on it so maybe that helped but they seem to be doing great deals at the moment and the whole process was low pressure and friendly compared to all my other experiences with dealerships. I'm really happy with the car.

 

[vanillagorilla]

Lee Johnson is showing on their homepage a deal of $159/mo $1999 up front, 10k miles, Soul EV model.