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2021 Kia Sorento Gets Big Lease Discount To Offset Base Price Hike

2021 Kia Sorento Gets Big Lease Discount To Offset Base Price Hike

As with virtually all new cars, the 2021 Kia Sorento is more expensive than its predecessor. If we’re talking strictly about the base price, the midsize SUV sees a significant price bump of $2,450. The silver lining is customers can take advantage of introductory lease incentive to drive the monthly costs down a bit.

Cars Direct has managed to get a hold of a bulletin sent to dealers this week, revealing a 36-plan for only $279 a month with a $3,499 down payment and an $800 in manufacturer lease cash. It’s based on the entry-level trim level priced at $30,560 and comes with an annual mileage limit of 12,000 miles. Doing the math, the effective cost per month is $376 or an additional $50 compared to the outgoing Sorento.

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Kia Sorento

MSRP $ 28,110

MSRP $ 28,110

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You’d be better off with the 24-month lease plan as it brings savings of up to $2,100 for the same base version of the all-new SUV. Cars Direct points out the 24- and 36-month leases actually have an identical price after taking into account the larger discount and higher residual value, so the decision to go with the 24-month plan is a no-brainer.

Going for the base LX and the S trim above it brings you the best discounts available for the time being, while the EX and SX don’t come with any incentives on a 36-month lease plan. Even though the S is $2,500 more expensive in terms of MSRP than the LX, it only costs an extra $20 a month thanks to its better residual value.

Cars Direct advises against buying outright, with the best deal currently available via Kia Motor Finance being 1.9 percent APR for up to 66 months. Extending the plan to 72 months increases the APR to 2.9 percent, while a lengthy 84-month plan comes bundled with a 3.9 percent APR.

The lease deals are available until the end of the month and don’t seem to include the newly introduced X-Line trim pictured at the top. It’s a more rugged take on the Sorento with a higher ground clearance, upgraded AWD, and improved approach and departure angles.

READ MORE: https://www.motor1.com/news/455502/2021-kia-sorento-lease-discount/?utm_source=RSS&utm_medium=referral&utm_campaign=RSS-all-news

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