Deal check 2021 Kia Sorento Hybrid EX

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Calculator link

Went back to Kia and tried a higher trim EX. It happened to have a hybrid, and now convinced that’s the better option vs. plain gas.

Edmunds reports 0.00100 MF and 63% residual with no incentives. 36 mo / 12k miles.

They told me $500+/mo in the dealership, emailed when I left and they were down to $475, after some persistence I am at $460, which I backed into the calculator with the sale price reflected in the calculator ($35,516, 7.7% off MSRP). It appears they are marking up the MF, but I can’t get them to give me all of the information I want to fully understand.

I am trying to shop this offer around to another local dealer that has no dealer fee and a lower doc fee, but have been able to find limited data points indicating if I can do any better than 7.7% off MSRP. A lot of people are paying full freight on the higher trims; this particular dealer had a demo-quality, 1200+ mile SX X-line that they wouldn’t budge from MSRP.

Is there any room here, am I getting screwed, or is this acceptable?

Often, you won’t save enough on gas over the course of a hybrid lease to justify the increased cost over the gas model - unless of course, this is a weird situation in which the hybrid is actually going to cost less than gas?

Did you price out both?

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Incentives depend on your region, not sure where you’re located. There is a wide range of incentives for this. You should search for 2020s if you’re looking to maximize your deal, ie better discount. Plus I think they may have better incentives.

Most importantly, I’d recommend doing your research before you go to the dealer. Always negotiate over email or phone, get a copy of their offer to review. If the dealer isn’t willing to share the numbers with you, don’t do business with them. Period.

And yes, that’s a bad deal. Check some of the broker prices on here for much higher end SUVs for the same or less cost.

I don’t see how you can determine the sales prices and marked up MF. How do you know it wasn’t at buyrate MF, but higher sales price?

The Sorento was redesigned for 21. A 20 isn’t a comparable vehicle.

As @mllcb42 noted, this Kia is a brand new re-design for this model year, with a new powertrain. They are going for “baby Telluride” and hoping to sell them like it.

I don’t believe there’s a comparable vehicle with a third, albeit likely useless, row with a hybrid option. The higher-end or other manufacturer SUVs with third rows are significantly larger, or we don’t like them (e.g. Highlander, CX-9, Pilot, XC-90 are huge, we did not like Tiguan). Unless I am missing something!

According to Edmunds, there are no incentives on the hybrid, and a small lease cash incentive on the gas model.

I shopped around the country and found that pricing looked the same everywhere.

I thought getting them down to close to 8% off MSRP was a good starting point.

The dealer gave me the sales price after I’ve been negotiating with them over email.

At first glance, I think you’re in as solid of a place as you’re likely to get on this given the current lease programs.

Also, worth noting that the new Sante Fe is no longer upcoming, it’s here and for sale.

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At the end of the day you should buy what you want and is the best fit for your family. Trying to help you understand what could be better bang for your buck with other brands, x5, xc-60, etc if you want smaller suv. We personally have a '20 Santa Fe, fully loaded, for our family and absolutely love it! Has everything all the high end suvs have for a fraction of the sticker price, albeit, the same monthly cost due to lack of discount & incentives. We didn’t get a great deal on it, but wanted it, and for comparison, we are paying $430/mo w/ 15k miles and zero down.

In CO wouldn’t your best bet be a turbo engine?

The Sorento hybrid is a turbo engine with an electric motor assist. Probably about as ideal as you can get in an ice platform for high altitude.

@mllcb42 has it right. Hyundai’s got a new 1.6 liter 4 cylinder with a turbo and a motor/battery, mated to a conventional 6-speed automatic, for the Sorento and Santa Fe. The higher Sorento trims have a bigger 2.5 liter 4 cylinder with a bigger turbo mated to a dual-clutch transmission, but there are reports coming out of Korea about oil consumption and looming problems. I wouldn’t want to buy one. We drove one (SX X-line) and they’re very nice, but they would be a truly terrible deal to lease at 600+ a month.

@schwags thanks for your reply - that’s a helpful data point, since the new Sorento and Santa Fe are higher MSRP. I’m glad you like the car and it works well for you.

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Update - the other dealer I’d been negotiating with came through with an actual fully transparent pricing breakdown. New calculator link.

The calculator is off by a couple of dollars. The lease details are:

2021 Kia Sorento Hybrid EX
MSRP: $38,415
Sale price: $35,500

RV: 63%
MF: 0.00100

Term: 36 mo, 12k miles

Acquisition fee: $650
Dealer fee: $605.95
TTL*: $36.08 (I am responsible for actual registration in Colorado)

DAS: $452.77
Monthly payment w/ tax: $445.57

Why is the calculator off by a couple of dollars?

I think we will sign this tonight.

Usually when it’s a couple dollars, it comes down to different states taxing fees differently.

Signed: Signed: 2021 Kia Sorento Hybrid EX, $449/month ($450 DAS)