Last post on Dec 18, 2011 at 3:35 AM
You are in the Kia Sportage
What is this discussion about?
Kia Sportage, SUV
#674 of 704 Recent Kia Sportage buyer- Think I got a bad deal !
Jul 12, 2008 (12:15 am)
I just bought a Kia 4 cyl LX model ( with in built parrot bluetooth ). I was in a hurry to get a car and I think I did not negotiate well.
All in all I got the following deal wondering if anyone can confirm my fears or comfort me cause I feel like shit on paying more
Now my credit score is good 705 ( not excellent but good). But my credit has been built only in an year (since I have been to US only about 2 yrs now). I have never bought a car in states before...
Model WHite 2008 sportage LX MRP was about 20000
Down payment 5500
Monthly payment for 5 years $235
Also wondering what is a typical per year depreciation on Kia cars.
Waiting eagerly for your answers
#675 of 704 Re: Recent Kia Sportage buyer- Think I got a bad deal ! [archstone1]
Jul 12, 2008 (4:34 am)
That does seem a bit high. You didn't say what the negotiated price or taxes/fees were, but when I was looking at a lease of a Sportage just like yours recently, I was able to get a price of invoice less holdback, or about $18,300, with very little negotiating. You might be able to do better in CA, I don't know. Less the $2500 rebate is $15,800. Less your down payment is $10,300. That amount financed for 5 years for a payment of $235/month comes out to about a 13% interest rate, which seems high. But you also have to include your tax/fees in there, so the rate is not really as high as that.
Typical depreciation on Kias is... well, not very good. Although I checked on resale values of 2005+ Sportages in my area and they seem to be holding up reasonably well. Depreciation for the first couple of years on ANY new car is pretty steep. So plan on enjoying your Sportage for a few years.
#676 of 704 Re: Recent Kia Sportage buyer- Think I got a bad deal ! [backy]
Jul 12, 2008 (10:42 am)
Thanks for the reply. Maybe I should have shared more details. This was a purchase. I plan to sell the car in 2 years. I was not getting a 2 year lease on Sportage so ended up financing the car.
As per the papers I thought I was getting a 6% simple interest over a period of 5 years. Am I right?
I am also hoping to sell the car in 2010 and hoping for a worst case selling price of 11k. And you are right...as per craigslist the resale value of 05-07 models are holding up pretty well.
#677 of 704 Re: Recent Kia Sportage buyer- Think I got a bad deal ! [archstone1]
Jul 12, 2008 (12:48 pm)
I understood that you were buying the car. I just mentioned that I was looking at a lease.
What was the amount financed? What was the sales price of the car including destination charge but before any taxes, license, or other fees? The finance contract you signed should have all the details including the interest rate. If it is in fact 6%, then it appears you did not get much of a discount.
If all you expect to get after two years is 11k and you keep it in good condition and don't drive a lot of miles, I think you have a decent chance to do that, for a private-party sale at least. Unfortunately, in two years an all-new Sportage might be out.
Jul 13, 2008 (2:32 pm)
I was just trying to catch up on my Edmunds reading and found your post above about me! Yeah, I did jump to the Mitsubishi camp, but I am still a fan of Kia. And my wife loved our '01 Kia Sportage 4X4 and did not want the '08 Lancer GTS anywhere near as much as I did. She was the one that really put us in the Sportage instead of a '02 Kia Spectra sedan. That was in the fall of '01.
I can not say much negative about our '01 Sportage 4X4 experience. Good, solid, small SUV that held together well and pulled decent gas mileage, too. And, it gave us that "sitting up higher" above the road experience many love, too.
#679 of 704 Re: Tire problems [hawkspirit]
Jul 16, 2008 (5:10 pm)
I am experiencing this same issue and am about to purchase a whole new set of tires at a hundred or so a pop. Is there something that the dealer is doing in response to this issue? Are they offering or do I need to raise hell with the local Kia dealer to get this rectified at a much lower cost? I don't mind paying 200 for a replacement fee. It's darn sight better than 400 to 500 for it. Any ideas? And I LOVE my 2006 Sportage.
#681 of 704 Re: 2005 Kia Sportage - accelerates/dies [bchapman1]
Jul 16, 2008 (5:27 pm)
I don't know if anyone else has gotten this issue resolved, but here's the scoop. I had the EXACT same symptoms on my 2006 Sportage V6 LX. Nobody, even the Albuquerque dealer where I purchased the car, could identify what the heck was happening. One time the dealer's mechanic even said that it was my gas cap leaking. LOL! I remember the first time I had that power drop and loud "CLUNK"... I thought I was going to cry because I thougth I'd bought a lemon. As I was relocating from Albuquerque to Dayton, Ohio the symptom reared its ugly head on the highway in between Amarillo, TX and Oklahoma City, OK. It was a saving grace in Elk City, OK that the AutoZone was still open and the clerk on duty put her analyzer on my poor baby. The code? THROTTLE POSITION SENSOR.... This little sucker was intermittently failing and finally pooped out on the road. I limped to OKC using almost a full tank of gas because of the raggedy driving. They replaced the TPS and there hasn't been a surge or drop ever since. I urge you to have your Kia Dealer/Mechanic look at this tricky little sensor. Good luck to all.
#682 of 704 Re: Recent Kia Sportage buyer- Think I got a bad deal ! [backy]
Aug 10, 2008 (2:26 pm)
Hi- I bought a 2006 Sportage EX fully loaded and love it. I'm getting ready to take my first trip tomorrow. I will tell you that I drive 37 mi a day round trip to work and I work 6 days a week, and I only fill up one time per week. I'm looking forward to finding out how much my highway trip will cost me. I dont travel on a highway going to work each week, and not only does my Sportage take me to work 6 days a week but also all those little extras, grocery shopping, etc. I use my air conditioning always, and I dont drive like a drip. Granted, I dont drag race to be the first in line to beat all the other drivers. However, I am so elated to own such a fine vehicle that not only gives me great gas mileage, but, is fun to drive and gives me everything I ever wanted in a SUV. I bought my Sportage last year, brand new, July 1st 2007. This is the best deal I've ever made on a brand new vehicle. I would never consider looking into another vehicle. I would hope you're not so dissatisfied with your purchase, because my SUV has been nothing but thumbs up!
#683 of 704 Re: Recent Kia Sportage buyer- Think I got a bad deal ! [idahocaj]
Aug 10, 2008 (2:30 pm)
Thanks for the insights. I had to put the Sportage on hold because I couldn't get the price I needed for our minivan. Also I noticed the lease deal on the Sportage is not as good now as it was in July. So I'll keep an eye on incentives as we get closer to the end of the year--hopefully they'll increase. I don't mind getting a 2008 on closeout since I hear there's very few changes on the 2009s.