Hurry up, that's a hot deal.
Kia has been pretty aggressive with the marketing campaign supporting the launch of the new K5 so far. The Korean sedan is doing stunts and is racing itself because the BMW 330i is too slow in advertising videos, and the automaker is following a similar approach when it comes to the vehicle’s pricing. Even though a fully-loaded 2021 K5 can set you back almost $38,000, it may be very cheap to lease a new K5.
A new analysis by CarsDirect reveals it may be cheaper to lease a new K5 than a Rio despite the massive price difference of about $9,000 between the two cars. Based on the automaker’s online payment calculator, the 2021 K5 LXS with an MSRP of $25,455 starts at $209 per month for 36 months with $2,999 due at signing, which totals $292 per month. Go for the GT-Line trim with an MSRP of $26,355 and it’ll set you back just $10 more per month.
save over $3,400 on average off MSRP* on a new Kia K5
For comparison, the 2020 Rio LX costs $326 per month to lease when you factor in the signing fee, 12,000 miles of driving per year, and upfront cost and payment. That’s before all additional taxes and fees and is for a model that has an MSRP of $16,815. Simply put, a $17k entry-level hatch is $24 per month more expensive to lease than a $26k sedan.
According to a dealer leasing bulletin, CarsDirect reports, the more expensive K5 qualifies for as much as $1,530 in manufacturer lease cash with interest rates of roughly 2.7 percent APR. In turn, the Rio currently has no lease incentives which pretty much makes it more expensive to lease than the larger and more expensive sedan.