lease vs Buy - Kia K900 Forum
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post #1 of 18 Old 05-10-2016, 11:11 AM Thread Starter
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Default lease vs Buy

I'm curious as to how many new Kia900 were leased vs. purchased? I'm currently in a A6 lease and starting to shop. Right now, lease numbers on the K900 with VIP and the similar Equus Ultimate are not that great. Another option, would be a CPO with low miles on either of the two cars. Anybody here comparison shop the K900 vs Equus?
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post #2 of 18 Old 05-10-2016, 04:13 PM
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Both of them are reliable cars with bargain. However, when you look at the resale value of EQUUS or K900, they are not in par with their competitors.
Hyundai will stop making EQUUS where Genesis EQ90 (in Korea) and EQ900 (Overseas) will take over. The car has been launched and selling in Korea already. It's very luxuarious where it has V6 and V8. Premium, Premium Luxury, Prestige line ups are available and they are between approx. $70K to $100K in Korea.

Current EQUUS has Linousine version which is not available in US market... It is different over there.

As far as purchase vs lease, I would not hesitate to lease as
1. it has very aggressive lease rate (Especially K900)
2. Unless you plan to own it for 10 years, you will be hit with a big depreciation.

Driving is FUN !!!
I want my first KIA K900 to be fun too....
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post #3 of 18 Old 05-10-2016, 05:47 PM
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If ink about buying, get the CPO you will get it for about 1/3 off and they give full 10 year 100000 mile warranty.
you can also get an extended warranty on the bumper to bumper.
You will miss the free oil changes , but for the $20,000 off break you can buy a lot of those.
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post #4 of 18 Old 05-10-2016, 09:36 PM Thread Starter
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I hear you guys concerning the depreciation, especially on the K900. Of course, flip side is great value used. I've found several low mileage CPO 2015 luxury models at 37-38K, but have not been able to find one with VIP. Still early days in my quest for a new ride, but I was really impressed with a 16 K900 that I drove. I plan on waiting for the new Genesis launch to see if it causes a fire sale on leftover Equus and or K900.
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post #5 of 18 Old 05-10-2016, 11:23 PM
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Quote:
Originally Posted by Grantman View Post
I hear you guys concerning the depreciation, especially on the K900. Of course, flip side is great value used. I've found several low mileage CPO 2015 luxury models at 37-38K, but have not been able to find one with VIP. Still early days in my quest for a new ride, but I was really impressed with a 16 K900 that I drove. I plan on waiting for the new Genesis launch to see if it causes a fire sale on leftover Equus and or K900.
Don't hold your breath Kia and Hyundai have not forced dealers to buy too many of these cars so "flooded " cannot happen .There are not many discounts on new out there but if you can get a K900 with low mileage at 38K it would seem to me to be a fair deal. Trying to steal a car is more of a myth then a fact




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post #6 of 18 Old 05-10-2016, 11:24 PM
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Grantman
Not sure where you are but, If looking for a luxury with VIP there is one here right now. 2015 CPO at MARK KIA Phoenix,az
$38.995 13642 miles. White with black interior. Black interior. is not cool here in Arizona, no cars with white interior that have the VIP package for 2015. only luxury
So they are out there
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post #7 of 18 Old 05-10-2016, 11:31 PM
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LEASE VS BUY One should understand how the math works on leasing .There are two very distinct loans all wrapped under the nomenclature "lease" First is the term loan which is fully amortized over the lease term Let us assume it is a three year lease with the capital costs of $40,000 after trade in and any cash paid and all dealers closing fees. The interest charged on the lease say is 2% Let us also assume the residual value is $15,000 which means at the end of the 36 month you can buy the car for an additional payment of $15,000.
Loan one term loan =$40,000-$15000= $25,000 The payment at 2% to fully pay off that term loan over 36 months is $714.87/month
Loan two Residual value at interest only at 2% =25/month Ergo the total lease payment is $739.87 plus any state or provincial taxes

as an aside any cash down payment tax at least in Canad would be applied at closing .

That is why if you paid off the entire capital amount of $25,000 iup fromnt you still would have a $2500 month lease payment




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post #8 of 18 Old 05-11-2016, 11:11 AM
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leasing also depends on how much you drive.
You get so many miles per year, go over that
and it can get expensive fast.
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post #9 of 18 Old 05-11-2016, 11:53 AM
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Quote:
Originally Posted by Gene View Post
leasing also depends on how much you drive.
You get so many miles per year, go over that
and it can get expensive fast.
The mileage issue is a one of the factors they use to determine the residual value .In my lease I had three options so i chose the middle of the three which was 20,000 Klms ( 12,000 miles) per year and that meant I had accepted a lower residual value .I have owned my car for almost 10.5 months and all I have is 11,000 klms . The penalty for exceeding 100K is 12.4 cents per klm or .75 mile .Yes it can be expensive but miles driven determines depreciated residual value so it makes sense .




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2015 k900 V6 Premium Edition Metallic Silver
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post #10 of 18 Old 06-04-2016, 02:03 PM
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We drove both and selected the K900. We liked the ride better and my wife liked the styling. We chose to lease because the 24 month option was exceptional. First time I have leased, but concerns about the "newness" of the K900 and the lack of incentives to purchase led me to the lease. It was a closed end lease so the purchase price is locked in. So far, I don't think we will purchase. The car is fine, but using a "standard" Kia dealership for the K900 is problematic. We are not getting the service I would expect for a "premium" car like Equus, Mercedes, BMW etc.
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