Kia has been fairly aggressive with the advertising marketing campaign supporting the launch of the brand new K5 up to now. The Korean sedan is doing stunts and is racing itself as a result of the BMW 330i is simply too sluggish in promoting movies, and the automaker is following an analogous method in relation to the automobile’s pricing. Though a fully-loaded 2021 K5 can set you again nearly $38,000, it could be very low-cost to lease a brand new K5.
A brand new evaluation by CarsDirect reveals it could be cheaper to lease a brand new K5 than a Rio regardless of the huge value distinction of about $9,000 between the 2 vehicles. Based mostly on the automaker’s on-line cost calculator, the 2021 K5 LXS with an MSRP of $25,455 begins at $209 monthly for 36 months with $2,999 due at signing, which totals $292 monthly. Go for the GT-Line trim with an MSRP of $26,355 and it’ll set you again simply $10 extra monthly.
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MSRP $ 24,455
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For comparability, the 2020 Rio LX prices $326 monthly to lease once you issue within the signing payment, 12,000 miles of driving per yr, and upfront value and cost. That’s earlier than all extra taxes and costs and is for a mannequin that has an MSRP of $16,815. Merely put, a $17k entry-level hatch is $24 monthly dearer to lease than a $26k sedan.
In response to a seller leasing bulletin, CarsDirect experiences, the dearer K5 qualifies for as a lot as $1,530 in producer lease money with rates of interest of roughly 2.7 % APR. In flip, the Rio at present has no lease incentives which just about makes it dearer to lease than the bigger and dearer sedan.
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