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Kia Sorento Prices Paid and Buying Experience

169 messages,  Last post on May 02, 2008 at 1:19 PM

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#168 of 169 Buying a new 2007 SUV in April, 2008 by pesco Apr 26, 2008 (7:31 pm)
Hello, thought I'd run this by everybody for some thoughts...   I'm looking at a 2007 Kia Sorento EX 4X4 with Luxury option package. It is a demo with 5200 miles.   They want to sell it for $28k, minus $3k rebate. I thought it was pretty laughable. I think I could probably get a 2008 for this.   On sites like Edmunds I can't get a TMV amount for a new 2007 vehicle. And there aren't any values for Certified Used 2007's.   It seems like there should be a deep discount on a car that's last year's model (especially since the 2009's are about 3-4 months away) and since it was a demo car that has over 5k miles on it, it's just hard to know exactly how deep a discount it should get.   So here's my math, I want to see what people think:   2008 Kia Sorento (NOTE, 2008!) National Base Price: 24,790 Optional Equipment: 2,760 Destination Charge: 700 Total for 2008 with options: 28250   Subtract depreciation (10%, pulled out of the air): 2,800 Subtract mileage ($0.15/mi): 750 Subtract Cash back from Mfr: 3,000 Total adjusted total for 2007 model: 21,700   Thanks for any feedback. Replies to this message: cheapengineer (May 02, 2008 1:19 pm)
#169 of 169 Re: Buying a new 2007 SUV in April, 2008 [pesco] by cheapengineer May 02, 2008 (1:19 pm)
Replying to: pesco (Apr 26, 2008 7:31 pm) Okay, so I bought a 2006 Sorento demo (never titled) with all of the bells and whistles in May of 2007 with 5200 miles. This is the same as your situation, just a year later....   Sticker: $31355 Rebate to Dealer: - 4500 Net 26855 Price paid w/o TTL 20800 Net discount $6055   Basically I got 22.5% off the sticker price after adjusting for the rebate. Using the same math, a similar deal would put your 2007 at $19557. Be sure to check the internet for the official KIA rebate, it may be higher for the year old model.   It all depends how bad they want to get rid of it and how bad you want it.

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