The Kia EV6 is a crossover that was presented in 2021 and the first deliveries started at the end of this year. The Korean firm already offers long-term rental payments that are rather advantageous at first glance for a model of this type. We are going to decipher this offer, find out what it really contains, what are the conditions to be fulfilled and what model do we really have for this price.
If you are looking for a new electric car, and even a used one, your sales representative has surely praised you for the financing he offers, and in particular leasing with option to buy and long-term leasing. To differentiate the two, it’s simple: you “rent” the car in both cases for a period of time defined when signing the rental agreement.
The difference comes at the end of the contract: after 3, 4 or 5 years in general, with the LOA (rental with option to purchase) you will have the choice between exercising the purchase option (previously defined at the time of sign the contract) or return the vehicle. The LLD (long-term rental) does not include a purchase option at the end of the contract.
This financing makes it possible to display certain models, at first glance quite expensive, at monthly rates which immediately seem psychologically more accessible. However, on closer inspection of these offers, many conditions must be met, and they generally relate to a specific model. What sometimes leave empty-handed when the rent displayed in advertising goes from single to double if we do not meet all the conditions.
This is why, in this section, we offer you a decryption of the offers of the moment, and especially those that seem tempting. We are going to take a closer look at what the conditions are and whether, economically speaking, this financing can be suitable for the use you will have of your vehicle. After deciphering the offer of the Škoda Enyaq iV available from € 299 / month, we will stay in the same price range, but this time with the Kia EV6, a crossover with a look anything but consensual.
What model of Kia EV6 is offered at a price of 297 € / month?
By discovering the French site of the Korean brand, we found this offer in a few clicks. By taking a closer look, and in particular by going through the small lines of the general conditions, we immediately notice that the vehicle shown in the photo is not the one concerned by the offer. A great classic among car manufacturers: we photograph a top-of-the-range model with the pricing “frome ”of the entry-level model.
The EV6, which is shown in the photo, is a two-wheel drive GT-line version equipped with the “Style Pack” and the “Sécu Pack” with a “Matte Gray” tint which actually costs 527 € / month, or almost two times more than the monthly payments displayed. It is a model packed with all the options, but that does not mean that the entry-level EV6 at 297 € / month is not interesting, on the contrary. Kia is in the habit of equipping its vehicles with a great deal of equipment that is directly standard.
But then, what do we have for this sum? A relatively well-equipped car, you see. As stated above, it is an entry-level model, but with a generous endowment. This is an EV6 Air Active two-wheel drive from 229 horsepower endowed with a 77.4 kWh battery allowing autonomy of 528 kilometers under the WLTP cycle.
In terms of equipment, the Air Active version, which is nevertheless entry-level, is well equipped. This finish immediately incorporates LED front headlamps, 19-inch alloy rims, a 12.3-inch digital instrument cluster, a navigation system with 12.3-inch touchscreen, Europe mapping and connected services. Kia Connect Live offered for seven years, the Kia Connect system, dual-zone automatic air conditioning, adaptive cruise control coupled with the navigation system, and keyless opening and starting.
On the other hand, if you want to add one or two options, you immediately exit the offer and the monthly payments go up.
What are the conditions to be eligible for the Kia EV6 LLD offer?
This is a long-term rental offer over 37 months and 45,000 kilometers maximum. As the announcement explicitly mentions, a contribution of 10,300 euros is mandatory to take advantage of the 297 € / month. From this contribution, the maximum ecological bonus of 6,000 euros eligible until June 30, 2022 must be deducted.
Kia applies a commercial discount so that the model in question drops below the 45,000 euros mark, the threshold at which the 6000 euros bonus is triggered. As a result, the first contribution amounts to 4300 euros. This offer is subject to the condition of a trade-in of an old vehicle, but Kia does not specify whether it is a vehicle eligible for the conversion bonus or whether all models are affected.
With your LLD, Kia provides three years of maintenance and warranty. In other words, it covers the entire duration of your rental. On the other hand, with the LLD, you will not be entitled to the KiaCharge Plus & Ionity Power subscription offered for the first 12 months. This offer applies to all customers of a new 100% electric Kia e-Niro, e-Soul or EV6 ordered between 1er October 2021 and December 31, 2021, and delivered by January 2022 at the latest, but not in LLD or with Kia Lease (a long-term rental solution intended for professionals).
How much will the Kia EV6 LLD offer cost you?
A quick calculation allows us to realize that the offer is rather interesting, especially given the price / service ratio. Over three years of rental, with contribution, your Kia EV6 will cost you 14,992 euros with maintenance and warranty. Kia displays its EV6 from 47,990 euros on its site. You can already withdraw a discount of 3000 euros so that the car is eligible for the maximum bonus of 6000 euros. You therefore fall to 44,990 euros, from which the 6,000 euros of government assistance must be withdrawn. We thus arrive at 38,990 euros.
Starting from this price, you will therefore pay, over three years, 33.3% of the price of your car. This is quite low compared to other offers (usually around 40%), which means that the residual value of the car is rather high. As a reminder, the residual value corresponds to the value of a good at the end of its period of use or rental. This value is therefore equivalent to the acquisition cost less depreciation made during the useful life of the asset.
Here, you will not have to bother with the resale since the car will have to be returned after 37 months. However, be careful with the repair costs, which are always quite expensive at the time of return. We advise you to do it first at your usual bodybuilder, it will cost you much less.
What are the advantages of the Kia EV6 LLD offer?
The price / quality ratio is one, if not the main advantage of this offer, with a very well equipped car, but which suffers from a small lack all the same: the absence of front parking radars. and rear, which can be useful for a 4.68 meter long car. With 229 horsepower under the hood, that’s pretty convincing, while the range, over 500 kilometers, is one of the best on the market.
The EV6 also has rather welcome driving aids and a build quality worthy of a car that costs almost 50,000 euros in price. Without reaching the level of premium, the EV6 is a well finished car which, on top of that, benefits from an unconventional design which could appeal to those who want to drive “differently”.
Once is not customary with an offer in LLD, the mileage is not ridiculously low. With this offer, you are limited to 45,000 kilometers over the 36 months of your rental, which corresponds to 1,250 kilometers per month, or approximately 42 kilometers per day. Usually, three-year offers limit mileage to 30,000 kilometers. If you exceed the number of kilometers prescribed at the time of return of the car, beware of penalties. The penalties depend on the manufacturers, but they are generally between 5 and 10 cents per additional kilometer.
What are the disadvantages of the Kia EV6 LLD offer?
There are not many disadvantages to this offer, apart from the conditions, and especially one: the trade-in of an old vehicle. From the outset, this excludes customers who do not have a trade-in, or else it forces them to switch to another offer, which is obviously more expensive.
As stated above, and this applies to all vehicles rented under LOA or LLD, the return costs can be high. They are established following the visit of an automotive expert who, according to a predefined scale, highlights the elements to be repaired on the vehicle. Before returning your vehicle, do not hesitate to go through the professional of your choice to take advantage of more advantageous rates.
Obviously, if you pick up another vehicle of the same make behind, your dealer can be lenient and minimize the return costs as much as possible.
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