Kia Sorento S AWD w/ Sport Package, Panoramic Sunroof package
MSRP: $ 36,425
Selling Price: $35,501
Monthly Payment: $ 390.44
Drive-Off Amount: $ $4,000 ($2000 cash & $2k trade)
Months: 36
Annual Mileage: 12k
MF: 0.00116
Residual: 64%
Incentives: $400 lease cash
Region: Mid Atlantic/Northeast
Includes Philadelphia sales/auto tax @ 8%
Did you sign this deal already?
OOF. I sure hope you didn’t actually do $4000 down and you are just confusing stuff.
no, not yet…not good?
It could be worse, but it’s definitely not good.
$2k cash and about $2k in equity on the lease we’re returning. Total is about $4k. it’s tough to guage the deal because I haven’t found a lot of Sorento deals here from recent that are similar model
Lets start out by at least baselining this… have you confirmed rv/mf/incentives? I thought these had $750 in incentives on them (maybe that changed for May)
Yes, MF, RV are confirmed. Incentive is $400 lease cash currently which is factored in the buying price above. The FWD models have $1,000 lease cash but they’re few and far between.
It’s always in your best interest to keep the incentives and the discounts separate. Lets you normalize the deal for comparison point and makes sure your calculations are correct based on the tax liability of the incentives.
So you’re at a $600 discount right now. Are there any add ons or anything clawing that back?
apologize if I put that in the wrong spot…I’m going off of the sheet they sent me. I’ll adjust
Not sure I follow (forgive me for being a newb). Discount is $625 total plus $400 in lease cash. I haven’t gone in yet, this is the first number they’ve given. The $4,000 cash down covers all drive-off expenses.
One factor that isn’t accounted for is Philadelphia tax (which is included in the price), it’s 8% it looks like.
A lot of dealers will show a discount but then tack on dealer profit add ons; vin etching, nitrogen in the tires, gps trackers, etc that more than make up for any discount without adding any value to the customer.
You’re paying over $500 month effective for a Sorento. You’re in bmw audi mercedes territory.
ahhh, yes they’re adding theftguard which I’ll decline for $299.
Which 3 row bmw, audi, or mercedes can you get for $490/mo in the current market?
Maybe a GLB
(I tried, best friend is a salesman at MB and his employee deal was $2,500 down, $438/mo 7,500 miles for 48 months on a GLB which didn’t include cross country shipping and DMV costs)
True point. I forgot the Sorento has a 3rd row.
Although it’s not much of a 3rd row…
it’s enough for 3 younger children hence why we’re looking at it
@AutoCompanion do you do Kias?
I tried another broker on here who will stay nameless but the deal they gave me was the exact deal I could have gotten if I went to a site and figured out my deal, myself. The deal I’m posting is actually better than theirs if you can believe it.