That's reasonably close except the fees that you're missing. You probably have between $1,000-$1,500 in total so your payment will end up being in the upper $600's.
You also have to make sure how your state charges taxes on the lease. Some do up front and some do on the payment. That will also change your figures.
Leases are a mess to calculate properly.
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If I can toss in a thought: IF you can actually afford to purchase the car ($16k or so with savings w/previous car trade-in or sale, etc...), then you can save yourself $4,587.45 - which is how you can truly leverage the Lease Cash against the vehicle cost, rather than give it back over 36 months to Kia Financial.
What you would do is utilize the Lease Programs to Purchase the car. You can do this same-day if you want. Do the lease (push on the MSRP big-time before adding in lease cash - because remember, you DO care about the Residual Cost with this purchase model). Then pay your first month's payment (which will include that $131.07 interest).
The next step is to - right then and there - pay off the remaining 35 months. NOTE: YOU ONLY PAY THE PRINCIPAL OWED, you do NOT pay the interest in those 35 remaining months!!! That would be akin to you paying a chunk of change against the principal on your mortgage, but the bank still charges interest on it! Like a bank, Kia Financial, and no other Financial loan organization can charge interest when paying against the Principal owed - not legally anyway, and don't know who would try? Well, maybe a greasy dealer if they can somehow get away with it, but I highly doubt it... Not in today's world of information.
Thus, that $131.07 in interest x 35 months = $4,587.05 you would no longer be paying! In addition to this savings, you don't incur the Disposition Fee (which guards against depreciation for Kia Financial), because you not turning the car in, rather, you are now purchasing the car.
So the next step at the Dealer is to now purchase the car for the Residual. Finance (around 3% right now via many credit unions), and presto, you now purchased a Stinger and saved $4,587.05.
THAT is how you can truly get that Lease Cash to STAY off the cost of the vehicle, and in your wallet.
I'm doing exactly this sooner than later (in my world that means early this coming winter - I'm a disciplined guy with money, I'd like to think...). You need money to pay off the stream of payments. And I like to have whatever in cash to make sure the loan for the residual is only around $10k. So only about a $10 - $12k loan for me - tops. Get a 60mo loan, $225 a month or so, pay it off in 2.5 years.
Anywho, that's the way to make that lease cash truly stay as a discount on the car for you.
I'm assuming about 3% or fewer folks actually purchase a car this way?... Kia Financial knows a few do this, but can more than live with it, in order to get a massive amount of leases out the door.
MurlinatoR would have a better feel for this than me on how many people do this?...