2022 Kia Carnival Has Same Lease Payment As Sedona

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Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

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, Senior Pricing Analyst - March 3, 2021

Even though pricing for the new Kia Carnival will start $1,700 higher than the Sedona it replaces, the two minivans actually feature the exact same lease payment. However, some differences in lease price could make one a better deal than the other and make the Telluride SUV an appealing alternative for the same amount of money.

Kia's first lease on the 2022 Carnival LX is listed at $319 for 36 months with $3,499 due at signing based on the brand's latest dealer leasing bulletin. That's based on an MSRP of $33,275 and an allowance of 10,000 miles per year. Meanwhile, the 2021 Sedona LX has an MSRP of $31,575 and is listed at $319 with $2,999 at signing.

Factoring the payment and amount at signing, the Carnival has an effective cost of $416/month before taxes & fees. The Sedona comes out to $402 thanks to a lower down payment. Even though the Sedona is cheaper, we consider the Carnival a better value since it's just $14 more despite an MSRP that's $1,700 more expensive.

While the lease deal on the Sedona features $2,600 in manufacturer lease cash compared to nothing on the Carnival, the latter benefits from a much higher residual value of 63% (vs. 53% for the Sedona). These small details can help make the Carnival a bargain by comparison with the added value of being an all-new vehicle.

But is the Carnival really the best deal? That depends. As it turns out, it manages to have the exact same effective cost as a Telluride. That's because the Telluride LX is listed at $319 for 36 months with $3,499 at signing, which translates to $416/month. The Telluride has an MSRP of $33,415, or $140 more than the Carnival.

Unfortunately, Kia's advertised lease on the Telluride could be more fantasy than reality. As we reported last week, Tellurides are continuing to see high demand in many parts of the country and dealer markups of up to $10,000. As a result, your ability to get a deal could be more limited than you think. We recommend comparing prices carefully.

Current Kia offers are set to end March 31, 2021.

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, Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

Follow On: Twitter

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