Is this deal actually good or am I asking for too much?

Sorry for the sideways pic. Here’s my situation: I’m looking at a 2024 EV6 GT Line AWD. I knew going in that I’m upside down on the trade. I told the dealer I wasn’t going to put anything down for a lease. The dealer said this was their best offer since Kia wasn’t giving them more flexibility on the MSRP.

I walked away and told the salesperson to contact me if they were willing to lower the MSRP or offer more for my trade. I’m okay with paying $507 a month, but I want it with no money down and 12k miles per year. Am I asking too much?

Honestly, I think you might be asking for a bit too much. You’re getting $20k off a $60k car, which includes a $3k discount and $17k in rebates. That’s about a third of the car’s price. You’re also carrying $3k in negative equity and not putting any money down. I don’t know the details of your trade-in, but it doesn’t look too bad at first glance. Looking at Kia’s site, an AWD GT Line lease would be around $517/month for 24 months with no down payment. So, the higher cost seems to be from the negative equity.

A side note: Sometimes, it’s actually cheaper to pay $0.20 per mile than having a higher monthly payment for 12k miles, which is what happened with me and my IONIQ 5 lease.

@Ziv
Just an update: the dealership called back and we made a deal. We ended up splitting the difference on the negative equity. I’ve got a $530/month deal for 3 years and 12k miles per year with just $1500 down. I could’ve gone with zero down, but that would’ve added an extra $2400 over the life of the lease. All in all, I’m happy with the deal.

@Ziv
I was looking at some of the deals that others have gotten. I was hoping they’d reduce the MSRP a little more, but I’d be willing to work with them. There’s nothing wrong with my current car except for the high monthly payments (I bought it at the height of the used car prices in late 2022), but I’m just seeing if I could get a deal in case tax credits disappear.

@Mal
I don’t think they’ll be able to reduce it any further. My suggestion (if you really want this car) is to sell your current car yourself to get closer to what you owe. Unfortunately, used car values have gone down since you bought your car.

No need to apologize for the sideways picture. It’s really easy to rotate a photo on your phone. It’s easier than typing ‘sorry.’

You still owe $26k on your car. Buying a new vehicle right now seems like a bad idea. You’re wasting money swapping cars every 3 years.

Morgan said:
You still owe $26k on your car. Buying a new vehicle right now seems like a bad idea. You’re wasting money swapping cars every 3 years.

I wasn’t asking for your opinion on my financial situation. I just wanted to know if the deal I posted was fair.

@Mal
Lol, it’s funny how you don’t see the irony in your own comment.

@Mal
Ok, let me put it this way: ‘You’re fine with wasting money on car purchases, so go ahead and buy this vehicle, whether it’s a good deal or not.’

Morgan said:
@Mal
Ok, let me put it this way: ‘You’re fine with wasting money on car purchases, so go ahead and buy this vehicle, whether it’s a good deal or not.’

Why do you care how I spend my money? I’m just asking for feedback on a potential deal.

@Mal
If you’re asking people whether a purchase is a good use of money, then expect people to give honest feedback, even if it’s not what you want to hear.

Morgan said:
@Mal
If you’re asking people whether a purchase is a good use of money, then expect people to give honest feedback, even if it’s not what you want to hear.

I’m not sure why you’re so upset. I asked a question and got answers, isn’t that what a community forum is for? This is an EV6 forum, and I asked about an EV6-related issue. If I wanted to get roasted, I’d have posted in a different forum.

@Mal
You’re not being roasted. You’re just getting an honest answer: ‘No, it’s not a good deal because you owe money on your current car.’ If you’re serious about making a good decision, pay off your current car first.

@Morgan
Here’s the issue: you don’t know my full situation. I bought my car when prices were high, and I lost my previous car in a hurricane. I didn’t have many options at the time, but now I can afford to get out of it. There’s a lot more to the story that I’m not going to share publicly.

If you wanted to help, you could’ve just told me if the deal was good or not. I didn’t need a lecture about my finances.

I’m done with this conversation because it seems like you have a personal issue with me, and I don’t need to engage in that.

@Mal
I’m just trying to give you advice. You got into a bad situation, and now you’re considering making another bad decision. Don’t make the same mistake again. You’re not in a position to buy a new car right now.

Ask them to get rid of that $899 fee. Put the numbers into a lease calculator and check what they’re really offering. The numbers seem a bit high, and it might be that they’re marking up the money factor, but I haven’t done the math myself, so I could be wrong.

@Sidney
Could you share the link for that lease calculator?