I ended up with a very similar deal as you got last Saturday. I didn't know anything about the so-called lease hacks, but I binged several videos from The Homework Guy and Your Auto Advocate before walking into the showroom. My monthly payment is exactly $20 more than yours, plus I put $6000 down, and have an 800+ FICO score. The difference though is that I got the Wave trim with the preserve package (MSRP $47,580) vs. your Wind trim. I also let them sell me on a 7-year multi-guard package after negotiating it down from $1750 to $1071 for 7 years, with prorated refund if I don't keep the car at the end of my lease. Leasing means the car will cost about $1500 more over financing were I to ultimately purchase it, but the additional rebate and the much lower monthly payment makes it a good short term option. Looking at the same form you posted, my gross capitalized cost is $46,245.75, capitalized cost reduction: -$9,669.71, adjusted capitalized cost: $36,576.04, residual: -31,402.80, Amortized depreciation: $5173.24, rent charge: $6999.08, total base monthly payments: $12,172.32, term: 36 months, base monthly payment: $338.12, tax: $30.09, Total monthly payment: $368.21. So far, I am loving the car. I wanted the Wave trim for the additional safety features. (Don't really care about the sunroof or the clunky remote smart park assist) However I'm loving the heads up display a lot more than I thought I would. The Niro was actually my 2nd choice behind the Chevy Bolt EUV Premier trim. I was not a fan of all local Chevy dealers wanting a $3000-5000 "market adjustment" above MSRP though. The Kia has a higher starting price and doesn't qualify for the $7500 federal tax credit, which seems to make the dealers a *lot* more willing to negotiate. Not a huge fan of the looks of the car's exterior, but the inside is nice and much more comfortable than the Bolt's. I don't have the wireless Android Auto/Carplay, the 360 parking cameras, or Super Cruise which I would have had on the Bolt, but Kia's lane following assist makes it nearly as good, and the automated lane change assist is simply wild!
Where did you come up with the exact numbers at 10:57, like the .68 residual for example? And did you legitimately qualify for the Kia loyalty discount or were you basically asking them to just punch it in for you regardless?
My thought process mirrors yours and I have also determined that the Niro EV provides the best value in EVs currently. You went above and beyond in providing the details of your transaction and the obstacles you ran into. I really appreciate the time you took to document the process and point out the shortcomings of the Niro as well.
I absolutely love Kia of Carlsbad. When I was getting my car toward the end of 2021, they were by far the best dealership that I dealt with. They care about their customers, whereas most of the other dealerships that I went to just tried to completely rip me off. One of them wouldn't even give me an offer because I looked "too young". Really happy with my 2022 Kia Niro EV and I know I got a great deal on it. Your car looks incredible in that green! Congrats!
So far 2023 Kia Niro EV wind. I love the car is almost as if its SUV, no side camera for blind spot when turning sucks, power is responsive, 3.3mi/kwh most annoying is super cahrger, 150KW, or 350KW, only cahrges at 38kw when below 80%, 15Kw when above 80%, that correlate to 2hr30mins of wait time at charge stations which is not cheap around $23 avg.
Good vid, thanks. Thanks also for the Level 2 charge heads up, it'll be a couple of weeks until I get my 48A Level 2 EVSE installed and I'll watch to see if I have to de-rate the power transfer. I really am enjoying the Niro EV, I have the top trim in Canada and it did come with a Level 1 charger. I understand how it would be a total bummer not to receive one. I'm going to add to the dislikes and say that I'm not a fan of the amount of piano black in the interior and also that the driver and front passenger door pockets should have been made larger. I cannot get my refillable water bottle to fit. I've had my for almost a month and have put almost 4,000km/2,500mi on it including a road trip from Toronto to Cape Cod 1,000km/600mi one way. Love the way this car drives on the highway and wish it could charge faster at DC fast chargers.
Excellent review and great information about the car buying process you went through. Please provide updates with your ownership experience. Well done.
Alex, you are an awesome negotiator and you were very careful checking every number that the dealers came up with. I am really surprised that you were able to get Carlsbad to give you a new car, especially after the great deal that you negotiated. You either live in the Bay Area, 510 area code, like I do or maybe Sacramento to be 500 miles from Carlsbad. My parents used to have a condo in Palm Springs. I sometimes wish that we had moved down there, except that I love the natural air conditioning of San Francisco.
I really appreciate you posting this video, since I am considering buying a new Niro EV Wave. Having the details you provide will give me a lot of confidence when communicating with dealers. I'm particularly interested in your example residual value and money factor numbers. Thank you!
Good on ya! I was thinking today that it does everything I want/need and nothing more. .68 is the residual. .0031 was the money factor that was require by Kia Financial. And it was $2000 due at signing (DAS) which was like $400 down + fees + first payment.
I had rented the Kia Niro 2022 and would pull the #3 fuse to shut off the back up chime early in the morning and then put it back in after. Any idea if that's stil the right fuse on the 2023? lol
Hey! I just got a 2023 niro ev limited. I’m about to install a level 2 charger and would appreciate more specifics on the max wattage you can take because I just brought a 50 amp charger, and don’t want to invest in installing 70 amp breaker with large expensive wire if the car won’t accept more than 8 kW. Thanks for your video!!
A 50 amp breaker is plenty, especially if your car can charge at 40 amps. My Tesla came with a NEMA 14-50 plug type charger that has an output of 32 amps. It charges my Model 3 plenty fast and I usually charge at the least power to have the charging finish during the time when my electricity costs less. I can take it down to 5 amps.
Going back and forth on whether to lease a KIA Niro EV or PHEV. As the current crop of EV's are not selling and their depreciation is dropping like a rock, I'm not sure if getting an EV is the best deal for me anymore. Plus, telling us that KIA no longer provides a Level 1 charger is a big deal! Probably taking that first "baby step" and leasing a PHEV and after a test drive, really enjoyed the Niro PHEV SX Touring trim. Plus, the PHEV DOES provide you with a level 1 charger, which I will use until I can have an electrician install a Level 2 charger inside my garage. Oh, and in NJ, we have great Lemon Laws, and I qualify for a rebate from my utility company for installing a level 2 charger (plus I have solar roof panels). Oh, and as far as KIA dealerships all over the map with pricing, I'm working with 3 now to see who gives me the best price, and who can help me the most with turning in my current Hyundai Kona lease.
UPDATE: Yes, I took delivery (in mid-May, 2024) of a 2023 KIA Niro EV in Wave trim LOADED that was sitting on the dealer's showroom floor for 8 months. Sales manager took off all the above MSRP add ons and I got a better deal than the 2024 version, which is exactly the same in every way. Saved over $10,000 as I also had the full federal tax credit taken off (leased it) and no Sales Tax.
I've got Kia Niro EV 2019, been driving it for about three years now... had some recalls on it and the motor induction gear issue fixed... but overall, I like it... except for its slow AC 7kW and DC usually 45kW charging speeds.. also the seat cushion is so firm on my back.. wish the seats were softer... my next EV should have fast DC charging speed and 11kW AC speed.... and hopefully free charging for 2-3 years (eg, ID.4).
Your right about level 2 stopping, hyundai/ kia answer is togh luck. I charge mine at 9.7 kw at home for a year at 40a ps, no issues, so try that if its a good rate for your situation.
with residual value at $28k, should i buy out in the first month of lease or in the end of lease? I read that leasing is more expensive than financing the car
$348/monthly lease pmt…… so your total drive off was $2,000 and your residual at 36 months is $27,992.2 ? Sounds good but I would be unlikely to buy it at lease end for $28K
I realized after the fact more specificity about the numbers. The reason the cap cost reduction is $6,451 is because my down payment was actually just $451. I had a $2,000 due at sighing, of which $451 was the down payment. The other $1,549 was registration, other fees, taxes, and the first payment.
I would just like to point out that you are wrong when you say ALL niro EV have power tailgate. This is not true as you only get the power tailgate on the level 4 (top)spec NOT ON THE LOWER LEVELS.
@@AlexSweeney510 Ah that explains it then as im not in the USA. RUclips is a worldwide platform so maybe vloggers need to be clear about stuff that could possibly have country variations instead of just saying ALL as that isnt true.
slower acceleration? WHOOPEE! not every one cares about this mostly useless detail. The Niro is quick enough to drive in Boston, MA. traffic- and thats good enough for any situation. The rear visibility is good enough and it HAS the rear wiper, which the Model 03 does not. If you want to see BAD rear visibility, have a view of the 2021 IONIQ
![Eminem - Somebody Save Me (feat. Jelly Roll) [Official Music Video]](http://i.ytimg.com/vi/Vwa0HenQMi4/mqdefault.jpg)
Link to LeaseHackr article leasehackr.com/blog/2023/2/18/list-of-every-ev-that-gets-a-7500-credit-on-leases
I ended up with a very similar deal as you got last Saturday. I didn't know anything about the so-called lease hacks, but I binged several videos from The Homework Guy and Your Auto Advocate before walking into the showroom. My monthly payment is exactly $20 more than yours, plus I put $6000 down, and have an 800+ FICO score. The difference though is that I got the Wave trim with the preserve package (MSRP $47,580) vs. your Wind trim. I also let them sell me on a 7-year multi-guard package after negotiating it down from $1750 to $1071 for 7 years, with prorated refund if I don't keep the car at the end of my lease. Leasing means the car will cost about $1500 more over financing were I to ultimately purchase it, but the additional rebate and the much lower monthly payment makes it a good short term option.
Looking at the same form you posted, my gross capitalized cost is $46,245.75, capitalized cost reduction: -$9,669.71, adjusted capitalized cost: $36,576.04, residual: -31,402.80, Amortized depreciation: $5173.24, rent charge: $6999.08, total base monthly payments: $12,172.32, term: 36 months, base monthly payment: $338.12, tax: $30.09, Total monthly payment: $368.21.
So far, I am loving the car. I wanted the Wave trim for the additional safety features. (Don't really care about the sunroof or the clunky remote smart park assist) However I'm loving the heads up display a lot more than I thought I would. The Niro was actually my 2nd choice behind the Chevy Bolt EUV Premier trim. I was not a fan of all local Chevy dealers wanting a $3000-5000 "market adjustment" above MSRP though. The Kia has a higher starting price and doesn't qualify for the $7500 federal tax credit, which seems to make the dealers a *lot* more willing to negotiate.
Not a huge fan of the looks of the car's exterior, but the inside is nice and much more comfortable than the Bolt's. I don't have the wireless Android Auto/Carplay, the 360 parking cameras, or Super Cruise which I would have had on the Bolt, but Kia's lane following assist makes it nearly as good, and the automated lane change assist is simply wild!
Great video!
Where did you come up with the exact numbers at 10:57, like the .68 residual for example? And did you legitimately qualify for the Kia loyalty discount or were you basically asking them to just punch it in for you regardless?
My thought process mirrors yours and I have also determined that the Niro EV provides the best value in EVs currently. You went above and beyond in providing the details of your transaction and the obstacles you ran into. I really appreciate the time you took to document the process and point out the shortcomings of the Niro as well.
Thanks! Yeah, it can be confusing, and I was hoping to help others out to bring some clarity to how I analyzed the situation! Cheers.
My Niro EV wave has 310miles at 95%
Love it!!
Which Niro EV? The wave?
I absolutely love Kia of Carlsbad. When I was getting my car toward the end of 2021, they were by far the best dealership that I dealt with. They care about their customers, whereas most of the other dealerships that I went to just tried to completely rip me off. One of them wouldn't even give me an offer because I looked "too young". Really happy with my 2022 Kia Niro EV and I know I got a great deal on it.
Your car looks incredible in that green! Congrats!
This was such a helpful video, thanks for taking the time to make it and for sharing all of your details. I wish I could give you 3 thumbs up.
This is really helpful. Thanks!
Glad it was helpful!
Point a pedestal fan towards the charging port & see if they helps with the charging rate.
Good info about negotiation & lease perspective. Thank You.
So far 2023 Kia Niro EV wind. I love the car is almost as if its SUV, no side camera for blind spot when turning sucks, power is responsive, 3.3mi/kwh most annoying is super cahrger, 150KW, or 350KW, only cahrges at 38kw when below 80%, 15Kw when above 80%, that correlate to 2hr30mins of wait time at charge stations which is not cheap around $23 avg.
Great information! I'm thinking of this exact car. Wish you would show how the driver seat adjusts. Thanks!
Good vid, thanks. Thanks also for the Level 2 charge heads up, it'll be a couple of weeks until I get my 48A Level 2 EVSE installed and I'll watch to see if I have to de-rate the power transfer.
I really am enjoying the Niro EV, I have the top trim in Canada and it did come with a Level 1 charger. I understand how it would be a total bummer not to receive one. I'm going to add to the dislikes and say that I'm not a fan of the amount of piano black in the interior and also that the driver and front passenger door pockets should have been made larger. I cannot get my refillable water bottle to fit.
I've had my for almost a month and have put almost 4,000km/2,500mi on it including a road trip from Toronto to Cape Cod 1,000km/600mi one way. Love the way this car drives on the highway and wish it could charge faster at DC fast chargers.
Hope you're enjoying the Niro EV in the Great White North! Doing a trip to Van soon!
@@AlexSweeney510 Is Van, Vancouver?
i showed my wife how good of a deal this is, she said no :(
Best RUclips comment I have seen in some time
I am so sorry, but happy wife, happy life!
@@mitchellbarnow1709 :(
Excellent review and great information about the car buying process you went through. Please provide updates with your ownership experience. Well done.
Alex, you are an awesome negotiator and you were very careful checking every number that the dealers came up with. I am really surprised that you were able to get Carlsbad to give you a new car, especially after the great deal that you negotiated. You either live in the Bay Area, 510 area code, like I do or maybe Sacramento to be 500 miles from Carlsbad. My parents used to have a condo in Palm Springs. I sometimes wish that we had moved down there, except that I love the natural air conditioning of San Francisco.
oh man i need this car!
I really appreciate you posting this video, since I am considering buying a new Niro EV Wave. Having the details you provide will give me a lot of confidence when communicating with dealers. I'm particularly interested in your example residual value and money factor numbers. Thank you!
Good on ya! I was thinking today that it does everything I want/need and nothing more.
.68 is the residual. .0031 was the money factor that was require by Kia Financial. And it was $2000 due at signing (DAS) which was like $400 down + fees + first payment.
Hi Alex,
Thanks for a very helpful video.
Can you direct me to the letter you composed for the dealerships?
Thanks,
Paul
I had rented the Kia Niro 2022 and would pull the #3 fuse to shut off the back up chime early in the morning and then put it back in after. Any idea if that's stil the right fuse on the 2023? lol
Right there with you except turning off the backup chime. Good video.
Hey! I just got a 2023 niro ev limited. I’m about to install a level 2 charger and would appreciate more specifics on the max wattage you can take because I just brought a 50 amp charger, and don’t want to invest in installing 70 amp breaker with large expensive wire if the car won’t accept more than 8 kW. Thanks for your video!!
A 50 amp breaker is plenty, especially if your car can charge at 40 amps. My Tesla came with a NEMA 14-50 plug type charger that has an output of 32 amps. It charges my Model 3 plenty fast and I usually charge at the least power to have the charging finish during the time when my electricity costs less. I can take it down to 5 amps.
Does it have bidirectional charging and can I use it as a big battery bank?
Have you applied for CARB rebate, I live in LA county received $4500 2021 Niro ev plus the 10k off msrp incl fed tax
Going back and forth on whether to lease a KIA Niro EV or PHEV. As the current crop of EV's are not selling and their depreciation is dropping like a rock, I'm not sure if getting an EV is the best deal for me anymore. Plus, telling us that KIA no longer provides a Level 1 charger is a big deal! Probably taking that first "baby step" and leasing a PHEV and after a test drive, really enjoyed the Niro PHEV SX Touring trim. Plus, the PHEV DOES provide you with a level 1 charger, which I will use until I can have an electrician install a Level 2 charger inside my garage. Oh, and in NJ, we have great Lemon Laws, and I qualify for a rebate from my utility company for installing a level 2 charger (plus I have solar roof panels). Oh, and as far as KIA dealerships all over the map with pricing, I'm working with 3 now to see who gives me the best price, and who can help me the most with turning in my current Hyundai Kona lease.
UPDATE: Yes, I took delivery (in mid-May, 2024) of a 2023 KIA Niro EV in Wave trim LOADED that was sitting on the dealer's showroom floor for 8 months. Sales manager took off all the above MSRP add ons and I got a better deal than the 2024 version, which is exactly the same in every way. Saved over $10,000 as I also had the full federal tax credit taken off (leased it) and no Sales Tax.
I've got Kia Niro EV 2019, been driving it for about three years now... had some recalls on it and the motor induction gear issue fixed... but overall, I like it... except for its slow AC 7kW and DC usually 45kW charging speeds.. also the seat cushion is so firm on my back.. wish the seats were softer... my next EV should have fast DC charging speed and 11kW AC speed.... and hopefully free charging for 2-3 years (eg, ID.4).
Your right about level 2 stopping, hyundai/ kia answer is togh luck. I charge mine at 9.7 kw at home for a year at 40a ps, no issues, so try that if its a good rate for your situation.
Outstanding dealer. I'm impressed with there service.
Awesome and detailed vid! so we have to purchase our own charger along with adapter for this car? Also, how much down did you put on this car?
Thanks for the video! Do you have the name of the person you worked with at Carlsbad Kia? Thx
I live next door to Carlsbad Kia:)
To anyone with this EV - What DCFC rate (kW) do you see when the battery is over 80%? I tried a Bolt and it was 15 kW (50kW when well below 80%).
15KW when above 80%, 35-39 KW max below 80%, tried at every station possible. 400, 150, ..
Do you recommend it for long road trips? Charging speed acceptable? Thanks
Wish these type of deals were available in Australia…
The car is not available in Australia
with residual value at $28k, should i buy out in the first month of lease or in the end of lease? I read that leasing is more expensive than financing the car
I wish I could get deal like this here in Virginia. I think these deals are only availble in California.
Kia dealerships I’ve been at at terrible . Prices are still a joke in Los Angeles area.
Wow, the mechanic called it an electronic coolant pump. 🤔
Funny you mentioned the car talks to you when you charge it. Fancy Korean rice cookers talk to you too. "Hello, I'm Mr. Cuckoo..."
Do you plan to buy out the lease? Its my first time doing lease and dont know should i refinance the lease right away. Which one is better?
$348/monthly lease pmt…… so your total drive off was $2,000 and your residual at 36 months is $27,992.2 ? Sounds good but I would be unlikely to buy it at lease end for $28K
Disappointing that there is no level 1 charger built in.
Ima get this and live out of it I stay in the Bay Area gas is 7$ and rent is ridiculous
I don't see where the $2000 downpayment is on your worksheet? Is that part of the cap cost reduction?
I realized after the fact more specificity about the numbers. The reason the cap cost reduction is $6,451 is because my down payment was actually just $451. I had a $2,000 due at sighing, of which $451 was the down payment. The other $1,549 was registration, other fees, taxes, and the first payment.
@@AlexSweeney510 what the hell is a rent charge? what constitutes it?
super helpful, thanks; I'm trying to decide between this and the Kona
I would just like to point out that you are wrong when you say ALL niro EV have power tailgate. This is not true as you only get the power tailgate on the level 4 (top)spec NOT ON THE LOWER LEVELS.
In the US that’s the case. Where are you?
@@AlexSweeney510 Ah that explains it then as im not in the USA. RUclips is a worldwide platform so maybe vloggers need to be clear about stuff that could possibly have country variations instead of just saying ALL as that isnt true.
You don’t want to wake up the neighbor when you’re leaving for your Grindr hook up late at night 🤣.
The 11 kW charging is only possible with a three-phase power supply. Most homes don’t have that. That said, 7.2 kW works fine for overnight charging.
Well, bad rear visibility and slower acceleration than the Model 3
slower acceleration? WHOOPEE! not every one cares about this mostly useless detail. The Niro is quick enough to drive in Boston, MA. traffic- and thats good enough for any situation. The rear visibility is good enough and it HAS the rear wiper, which the Model 03 does not. If you want to see BAD rear visibility, have a view of the 2021 IONIQ
@@harriettanthony7352
What about tax credits, range and supercharger network? It's hard to beat the Tesla model 3.
I have the 2019 Niro EV and the visibility is excellent. Not sure what you are talking about.
Automotive dealerships will soon become extinct.
Don't go to the dealer, find a car broker they will do the negotiations.
Great point
The brokers don't work for free, but I could never do the deal as well as Alex did.
do you know any good broker in SoCal area that can do Kia Niro EV deal. Thanks bro