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Your estimated vehicle purchase price or the KIA of North Bay selling price. For a more accurate payment estimate include applicable federal and provincial taxes, freight charges, licensing costs, accessories, extended warranty/service contracts, life/accident/health insurance policies, etc.
Leased Vehicle Amount:
Commonly referred to as the "Capital Cost", this is your estimated lease price or KIA of North Bay's best lease price plus any other items included in the lease such as accessories, freight, licensing, extended warranty/service contracts, life/accident/ health insurance policies, etc. Unlike traditional retail financing, do not include taxes in the Leased Vehicle Amount as federal and provincial taxes are calculated on the base monthly payment amount.
Lease Cost Reduction - Cash:
This is simply a cash down payment to reduce the Leased Vehicle Amount or "Capital Cost" of the vehicle. It is applied to the lease at the time of lease signing. A lease cost reduction helps to reduce your monthly payment.
Lease Cost Reduction- Trade:
This is simply the value you estimate KIA of North Bay will place on the vehicle you wish to trade in, after subtracting any balance you owe on the vehicle. The leased vehicle amount or "Capital Cost" will be reduced by this amount and it will be applied at the time of lease signing. A lease cost reduction helps to reduce your monthly payment.
Guaranteed Option to Purchase Price:
Also known as the residual value or buyout value, this is the amount you can pay to purchase the vehicle at the end of the lease, if you decide to exercise your option to purchase. Guaranteed option to purchase price is fixed at lease inception and varies by vehicle, model, usage and length of lease. Taxes, costs and expenses incurred if you exercise your option to purchase, are extra. Contact KIA of North Bay for further Guaranteed Option to Purchase Price information.