Lease a Leftover 2020 Ultimate for $115 per month?

  • Thread starter Thread starter Shark
  • Start date Start date
  • Replies Replies 10
  • Views Views 1K
S

Shark

Active Member
Below in bold is from a local dealers website. They have 41 Kona EV's in stock, so assumedly they are desperate, but can this be for real? They show two different cars with this offer.

I assume the reference to 4 cylinders is a typo as no ICE Kona is going to have a $47k MSRP.

With the $7500 federal tax credit is this not more or less like a free car for the next 3 years?

What am I missing? Too good to be true?
  • Stk# Q00796. VIN KM8K53AG6LU067329. MSRP $47,030. 4 cylinders. Lease for $115 per month for 36 months totaling $4,140. 10,000 miles per year. $0.20 per mile over. $3,493 due at signing includes $2,999 down payment and $494 doc fee. $0 security deposit. Price(s) include(s) all costs to be paid by a consumer, except for licensing costs, registration fees, and taxes. Subject to vehicle inspection and lessee responsible for less wear and tear. Available to qualified customers on approved credit. See dealer for full details. Expires 05/17/2021.
 
Its weird that they list it as having 4 cylinders but their serial number corresponds to a EV Kona. Real lease price looks closer to $212 + taxes per month when you factor in the 3K down payment and hefty documentation fee but this is still seems quite good. They would mostly likely also nail you on mileage charges as the 10,000 miles per year allowance is lower than average.
 
Shark said:
Below in bold is from a local dealers website. They have 41 Kona EV's in stock, so assumedly they are desperate, but can this be for real? They show two different cars with this offer.

I assume the reference to 4 cylinders is a typo as no ICE Kona is going to have a $47k MSRP.

With the $7500 federal tax credit is this not more or less like a free car for the next 3 years?

What am I missing? Too good to be true?
  • Stk# Q00796. VIN KM8K53AG6LU067329. MSRP $47,030. 4 cylinders. Lease for $115 per month for 36 months totaling $4,140. 10,000 miles per year. $0.20 per mile over. $3,493 due at signing includes $2,999 down payment and $494 doc fee. $0 security deposit. Price(s) include(s) all costs to be paid by a consumer, except for licensing costs, registration fees, and taxes. Subject to vehicle inspection and lessee responsible for less wear and tear. Available to qualified customers on approved credit. See dealer for full details. Expires 05/17/2021.
Click to expand...
I believe when you lease a car, it's the manufacturer that's offering the lease, not you, that get's the credit. They are probably factoring the credit into the cost of the lease to lower your monthly payment.
 
apu said:
Its weird that they list it as having 4 cylinders but their serial number corresponds to a EV Kona. Real lease price looks closer to $212 + taxes per month when you factor in the 3K down payment and hefty documentation fee but this is still seems quite good. They would mostly likely also nail you on mileage charges as the 10,000 miles per year allowance is lower than average.
Click to expand...
Right, but $212 x 36 months just about equals the $7500 credit. That's why I said "more or less free" (assuming I still get the tax credit).

Seems too good to be true, and trying to find out what the catch is.
 
MSimpsonNJ said:
If you lease you won't get the tax credit. Dealer gets it.
Click to expand...
Thanks. Still seems like a decent deal even without the tax credit.

BTW, I assume you are from New Jersey. BTW, is your first name Mark and did you work in the Real Estate Department at Toys U Us years ago?
 
You might get a smaller state tax credit. You will not be eligible for the federal tax credit. As far as many available, with the shutting down of the eastern fuel pipeline, prices of gas are climbing and I anticipate the prices of "non-gas" vehicles. May help the push EV's. It only makes sense this would happen sooner or later. Too many possibilities that could interrupt the flow of oil.
 
The dealer (Fred Beans in Flemington NJ) claims the two cars they show on their website with this deal have been sold. Bait and switch? Maybe. I would point out their website still shows the cars as being in inventory as of a few minutes ago. No doubt they are in no rush to remove the ad as it's bringing in phone and internet inquiries.
 
That's a pretty crappy thing for them to do if that's what they are doing. I wonder if there is a way to tell when they were allegedly sold?
 
Not sure how you could do so.

In my experience it's not an usual dealer tactic (but just because more than a few dealers do this does not mean it's ethical).

In their defense I will say it's not like they are aggressively pushing me toward a '21 at a higher price even though they have 40 in stock, they know I'm interested in a Kona EV, and they now have my contact info.
 
You must log in or register to reply here.
Back
Top