Kia Lease Deal Too Good to be True?
I received a tip from a reader alerting me to "the best lease deal right now in the country". It piqued my interest, so I had to look into it.
Here is what the reader claimed: A Kia dealership in Cape Coral, Florida is leasing brand new luxury 2015 Kia K900s for $375 per month, with $0 down - including tax, tags, and fees, plus free oil changes. This is for a 36 month lease, with 12,000 miles per year.
The Kia K900 Premium has an MSRP of $55,455. I calculated the deal using my lease formula, which came out to an unprecedented $67.65 per $10,000 worth of vehicle. Normally, anything under $135 is a good lease deal. Anything under $100 is exceptional. I have never seen anything under $75 (other than electric vehicles, which is not an apples-to-apples comparison since they come with tax rebates).
This deal seemed too good to be true, so I called the dealership and spoke to Lou Ruffini who confirmed the deal. He said all fees and taxes were included in the $375 per month deal, the only requirement being that you need to have a credit score of 700 or higher to qualify. The dealership reportedly has 40 to 50 of these vehicles in stock with an additional 75 set to arrive soon, so there should be a lot to choose from.
Their web site is currently advertising the deal with the following ad.
The reader who originally submitted the tip told me he visited the dealership and confirmed the deal was real (although he decided not to lease the car because he didn't like the seats).
The K900 is Kia's flagship model and is designed to compete with mid-to-large luxury sedans such as the BMW 5-series, Audi A6 and Hyundai Genesis. Basketball star Lebron James became the official ambassador for the K900 after he reportedly fell in love with it and contacted Kia to help promote it. Sales of the K900 have been disappointing, so this deal may be a way to spur sales by getting the model out on the roads where other shoppers can see it and inquire about it.
If you live near Cape Coral, Florida - and are in the market for a luxury vehicle, I don't think you'll find a better deal than this. If you're interested, you can contact Lou Ruffini at (239) 242-7000 or email him at Lmr7187@aim.com. Lou has assured me that his dealership does not play games and that they will honor this deal for my readers.
Please NOTE: I have no relationship with this dealership, so I cannot guarantee the accuracy of this deal or the reputation of this dealership - I'm merely alerting readers to a potential great deal, please do your own due diligence and keep an eye out for any hidden gimmicks or tricks. I'm leaving comments open below so you can provide feedback and share your experience with my readers. If there are any funny games being played, please inform us and I'll update this page immediately.
If you know of other exceptional deals available right now, send me an email.
3 Steps Every Car Buyer Needs to Take to Save Maximum MoneyThe key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:
Step 1 Get Prices From My Trusted NetworkSelect the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
Step 2 Get Prices From TrueCar / CarsDirectTrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.
Step 3 Complete my ChecklistFollow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid