Hello Hackers, first post on this wonderful forum. In the market for KIA Sorento EX V6 AWD in NJ area. I have been getting a few quotes and most of the dealers are showing ~3% discount off the MSRP. Please note that this discount is before any rebates (e.g. dealer cash, lease cash, conquest etc…). What is a good number to negotiate for? Appreciate your help.
I believe 12%+ is what ppl here go for
Hi @mikeset thanks for your reply. Is it realistic to expect 12% markdown before any rebates? I have yet to see any even close to that. The best I have seen so far is ~10% off including all the non-targeted rebates (dealer cash, regional incentives) and excluding targetd rebates (military, graduate, conquest, uber).
yeah many have done it here, i’m working on it currently, but running into what you’re saying. All these dealers bake in the rebates and then show selling price but you have to get the selling price BEFORE rebates then apply them
I was working deals for both the Kia Sorento EX 6 Cyl and Hyundai Santa Fe Ultimate before settling on a Toyota Highlander XLE. Got way more car for the money and came in cheaper than both the other vehicles. The high residual and decent MF made the Highlander more competitive lease wise.
Thanks @jayneo74. I would actually prefer Highlander XLE if I can get for a reasonable price. Would you mind sharing the details of your Highlander lease? Are you are in NJ area?
Sure. I am in Morris county NJ but got the vehicle from Island Toyota in Staten Island. The MSRP was $42311 and the selling price was a little over $36k. I ended up using the Honcker app because they came in even lower that what dealer’s wanted to give me. My final numbers were $1300 down which was basically taxes/fees and first month’s payment and $326.54 per month.
The residual was 68% but I’m not sure what the money factor was. This is for a 36 month 12k per year lease from Toyota Financial Services.
The vehicle in a 2017 XLE in Blizzard Pearl and Almond Leather Interior with all-season mats, door guards and paint protective moldings (not sure the exact term).
Also, the Honcker app will change prices daily, if not several times a day. The vehicle I was following fluctuated from 389 per month down to what I got it for (Said 327 when I clicked on it). Right now, the lowest I’m seeing is 378 but I haven’t been following it too closely since leasing back in Mid February.
Thanks a bunch @jayneo74. Did Honcker led you to Island Toyota in Staten Island?
No, When you select lease, you have no idea where the dealership is, just that it is within a range (seems to be north, central NJ and NYC, upstate NY) for my area. Once the paperwork was submitted via phone, they sent the VIN so I can get insurance which I then used to locate the vehicle by googling it. The dealer called shortly after.
I joined Honcker, but right now it is showing nothing for Highlander XLE for less than $432. I will keep watching it. Thanks again for sharing.
I just did the same thing…lowest was 410 i think or somewhere in that area. Must of been some crazy incentives or random deal of the day.
Yea, my guess is that maybe towards end of May/June timeframe there will be better deals. Even for KIA, in tristate area the dealers are not budging beyond 5-6%. Inventories for Sorento look small, so that might be the reason.