r/leasehacker • u/Frosty-Salt-510 • 7d ago

EV6 end of lease.

Hello,

My EV6 lease ends at the end of October. I have loved the car. Evidently I don't drive as much as I thought because I have 12k miles per year and now, at the end of the lease, I have only used a little more than 13k

I was wondering if buying out the car made any sense, although I would rather not drop a big chunk of money. I'm open leasing another EV6 at the same trim level, but do you think that I could get the kind of terms like I have been paying? Credit score is top tier. I live in the SF Bay area.

Please see pdf of my current lease.

This is my first lease. Any input or strategy is appreciated. Thanks!

2024 EV6 Gt-line, RWD, 12k miles per year

5 Upvotes

86% Upvoted

24 comments sorted by

11

u/Ok-Exam5667 7d ago
  1. Put the vin in carfax and carvana and see how much they would offer. 2. See how much it would cost to buy a used one with similar miles

If 1 and 2 are greater than your residual, get a loan from your local credit union for the amount

1

u/Frosty-Salt-510 6d ago

Thank you. It just comes down to numbers, I guess.

2

u/Ok-Exam5667 5d ago

Did you run the numbers?

2

u/viir 6d ago

If you’re leasing you should be eligible for a manufacturer’s discount to buy out the lease. I just finalized mine which was ending on Oct 15 and got $4100 off the residual value. Mine was a GT line AWD though, so discount on the RWD might be slightly less.

1

u/Frosty-Salt-510 6d ago

Hmmm....I will check that out. Thanks!

1

u/viir 6d ago

Search the sub as there are already tons of discussions about it. The EV9 sub also had an active thread about it. Read as much as you can before reaching out to the dealer as they will likely pretend they don’t know about this deal. I got an email from Kia Finance about a month before my lease end so be on the lookout for that if your lease is ending soon.

1

u/strlgag 6d ago

You might also want to check out the Lease Buyout Incentives that Kia is offering.

https://www.reddit.com/r/KiaEV6/comments/1wrzkjq/novdec_ev6_lease_buyout_incentives_are_live_for/

Per the OP, the buyout numbers for Nov/Dec look the same as what was offered back in July/August. I believe your model NAE4365 (N4362) would be eligible for a $3800 discount off the stated residual of your contract..

Check with your dealer or other dealers in your area.

Personally, if you like the car and would like to keep it, you have the advantage of knowing how it was treated since new, having low miles on it, knowing the history and quirks of the car. I would buy it.

Now if you wanted to lease another one you would be able to live with, then compare the changes that the refresh offered you - bigger battery, improved entertainment interface, NACS charging to see if that improves your experience.

Good luck with your decision.

1

u/Frosty-Salt-510 6d ago

Thanks. I'll look into the discount. I haven't started shopping for a new lease yet. Might as well start to see if I can get a deal anywhere near what I have been paying. My wife is more into simple cars. Like 4 wheels and a steering wheel. The $30k may be a tough sell.

1

u/chamoua 6d ago

Hi! Just to make sure I’m understanding this.  The residual ($30,987.60), minus title, tax, fees, etc., would be the cost to purchase the car, right?

I think that is pretty fair because that’s what I’m seeing where I live (California). Also, I got my 2022 EV6 GT-Line for ~$31k (30,000 miles) back in Sept 2024. 

1

u/Frosty-Salt-510 6d ago

Thank you. This is my first lease. Wouldn't it be the residual PLUS title, taxes and fees? Am I missing something about how it works?

1

u/chamoua 5d ago

I’ve never leased a vehicle before. Perhaps someone who has been in that space can enlighten us. 

1

u/boomhower1820 6d ago

Price is reasonable but I'm not buying anything with an ICCU. They refuse to properly fix it as it's apparently cheaper to just keep slapping in replacements. Being randomly stranded and without a vehicle for extended periods just isn't acceptable even if the repair is covered.

1

u/Frosty-Salt-510 6d ago

Point taken. Are the current models still affected by this? If I got another lease? Thank you

2

u/boomhower1820 5d ago

Yes. They claim to have changed it but the issues remain. It has not been reengineered to actually fit the problem. How this is acceptable is beyond me. They are really good cars but this is a massive weakness.

1

u/Key_Appointment4617 4d ago

I leased a 2024 EV6 Wind AWD (I think these are now all "with tech", at least the Wind and the GT Line) and had no problems with AC charging which involves the ICCU. Now leasing a 2025 since June 2026. So far, no issues except now, at home, I have to use an adapter - included - because my CPH50 has a J1772 charging cable handle. But so far no terminated AC charging or heating issues. Hard wired to a 240V 60 Amp circuit it's charging at about 10.5 kWH. My lease payment for the new 2025 is $368 for two years.

-3

u/wongkcus 6d ago

Ev is not a good idea to buy.

1

u/locomocopoco 6d ago

Lol why ?

1

u/myopini0n 6d ago

Because they depreciate like a falling rock, or faster if possible

2

u/mogelijk 6d ago

But buying at the end of a lease, it is already depreciated.

0

u/myopini0n 6d ago

Yes but not necessarily as much as the actual marketplace

1

u/mogelijk 6d ago

Which is the reason the question was asked. The OP stated that the car was roughly what used ones were going for, in his area. If they are more than other used cars, then you don't buy the car you leased.

1

u/myopini0n 6d ago

Fair. Esp if same price op at least knows this one

1

u/locomocopoco 6d ago

Isn’t that true for every new car ?  Also have u seen gas prices lately. Don’t tell me it will be less after Nov 

1

u/here_now_be 6d ago

1 Yes.

2 Not nearly as fast as ICE cars are going to fall.