Last post on Nov 20, 2013 at 8:49 AM
You are in the Prices Paid - Buying & Leasing Experiences
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Kia Optima, Sedan
#334 of 508 Kia Optima EX w/Premium Pkg purchased 3/31/2012
Mar 31, 2012 (2:33 pm)
I spent a lot of time perusing these boards during my purchasing process these last two weeks, so I thought I'd post my final numbers for the benefit of others.
Just completed my purchase of the Kia Optima EX Premium Package, ebony black with beige leather interior, accessorized with Cargo Mat, Cargo Tray and Door Sill Applique, MSRP $27,100 from Lev Kia in Framingham, Massachusetts.
I was amused to discover that the Hyundai Sonata Limited is exactly the same car as the Kia. Yes, there are differences: the body styling is different, Hyundai has their OnStar-like satellite system while Kia has their Ford-Microsoft Sync-like voice control system, the dashboard layouts differ, and the suspension is tuned differently. But, essentially they are the same and I decided I could live with either car. I like the Kia styling a little more.
I didn't want to pay more than $400/mo for sixty months, and here's how I got there:
Competitive Discount $ 1,000
Finance Bonus $ 500
Trade-In allowance $ 2,300
Final Price $23,300
Mass. sales tax (6.25%) $ 1,456.25
Doc & Prep $ 299
Tags $ 100
Total Price $25,155.25, writing a check for $2855.25, financing $22,300 2.9% for 60 months = $400/mo.
They met my price by giving me $2,300 on a beat-up 2004 Chevy Malibu with 120k miles. They were originally offering $1500, which was more than I expected, so I was satisfied.
I don't think the car is worth more than $1000, so I feel as if I paid $24,300 versus the Edmunds True Value list of $25,663.
#335 of 508 Re: Kia Optima EX w/Premium Pkg purchased 3/31/2012 [fuzzylogician]
Mar 31, 2012 (2:51 pm)
if the msrp was 27100, what was the selling price before the deductions?
How do you get a "competitive" discount?
My Sonata lease is up soon and I am starting the looking process..
enjoy the new ride!
#336 of 508 Re: Kia Optima EX w/Premium Pkg purchased 3/31/2012 [pegasus17]
Mar 31, 2012 (6:03 pm)
Don't know the selling price before deductions, honestly, I'd be speculating. All that I had to go by was the Edmunds True Value list of $25,663.
The competitive discount is available to anyone who has, or is trading, a car in the same class as the KIA Optima: mid-size sedan. I think it covers people who have, or are trading, a KIA as well. The list of cars is available on their website in a PDF file, and includes just about every non-luxury model I can imagine including some SUVs. I've seen some lists that limit the model years, but KIA does not:
Click here for qualifying models and "View Details."
#337 of 508 Re: 2012 Optima SX w premium & technology pckg [rico23]
Apr 01, 2012 (3:08 pm)
Hi Rico, I am looking for the same ... 2012 SX with Premium Touring and Technology. Did you ever pull the trigger? If so, what did you pay?
Any help would be appreciated.
#339 of 508 Re: Optima SX [brandenb]
Apr 09, 2012 (5:45 pm)
Great deal! BrandenB I am also looking for that same car, possibly with tech package as well. Yours seems to be the best recent price Ive seen and Im in the Richmond, VA area. Any way I could get your sales associate's name? What color combo did you get? Did you get any accessories?
#340 of 508 Re: Done!!! my xmas present to myself completed today [rjorge3]
Apr 09, 2012 (9:15 pm)
Wow that is a great deal on an Optima Hybrid! I cannot even figure how the sold/leased it that low. If I understand correctly:
Negotiated price: $29647.02
Cap reduction(Incentives): -$3400
True negotiated price: $26247.02
Title & Registration: $281.70
Doc fee: $399
Im buying in VA so car sales tax is 3% (NJ is 7.5% but you only had to pay about 1/2 since it was a lease) which would be another 800-1000 depending on if it is calculated on negotiated price before or after incentives.
So that means out the door in VA to get a similar deal I would be looking at about $28k out the door. That is FAR beyond anything I have even considered around here... I am seeing SXs go for around 4000-4500 below MSRP before Tax/Tags etc. MSRP on the hybrid is 32,500 loaded so 28k would be before fees and OTD would be about $29500.
Problem is if I tried to buy in NJ I would pay an extra 4% sales tax or about $1200 which would eat up the savings. I might have to wait until December and try your method in this area.
#341 of 508 Kia Optima Hybrid 2012 Premium Package
Apr 10, 2012 (11:00 am)
Price paid and experience.
Trucar, Edmunds Market Price, KBB, NADA, invoice pricing, etc. IMO don't mean anything if the dealer doesn't match it or buy at that price. A deal in hand is better than 6 online price guides.
My little soap box
#1--having a 'dealer invoice' is like the furniture store that inflates the price to have a 50% off sale. I think reading forums is the best information and when they let you walk away (as I have read in here), I think that is a good idea that you have a low price. So many of these deals are 'below invoice.' How does a dealership stay in business if they are giving away cars?
#2--most used cars are only worth auction price. Any extra I got was just the stealership working off the price of the new one.
#3--Documentation fees are just a notice to the customer of the minimum profit they want. Imagine if you got charged by the store for them making a receipt. Crazy!
I negotiated with many places. Most said that I needed to come by and would not give written offers. I was also trying to get estimates on the trade-in.
$32,495 MSRP for the 2012 Kia Optima Hybrid included destination charge of $750
Option 1: $29,195 ($1500 in rebates; $2,000 dealer discount; destination and $200 processing)
Option 2: $28,735 ($1500 in rebates; $2638 dealer discount; destination and $379 processing)
If you were not trading in a car, I think these are good deals off the top. Walking in off the street, this is what your could expect.
I went with Option 1 because they offered a better trade amount (about $1500 more than anyone else or KBB fair value), they met the other dealer's price, and had lower documentation fees. They also had the best customer service. I do not mind people making money, and in this area of the US, I like to reward good customer service (hard to find).
$27050 sales price (includes $200 documentation, $750 destination, $1500 rebates; $1500 extra trade over auction value) before taxes, title, license.
In the finance room, I chose a bank that helped make the dealer another $200 (banks pay dealers to sell their products) and negotiated another 1% point lower on the initial interest rate.
Patience on getting a deal.
You can refinance a car as new with a credit union up to 7500 miles and/or 3 months and usually free.
The dealer needs to make some money, just not all at one time.
Everything is negotiable at all times--throw in oil changes, after market sunroofs, lower interest rates, etc...
#342 of 508 What's a good price for an Optima EX?
Apr 10, 2012 (8:21 pm)
Hi All - I read through EVERY SINGLE post on this forum and my eyes are bugging me and my calculator is not working anymore haha!
Anyway, I need help - and I really wish on the forums, locations were posted (I know some were) when it comes to not only HOW much someone paid, but WHERE they bought the car.
So this post is for you California drivers!
I'm looking to purchase an Optima EX with the Premium package and I'm having a hard time getting a "ballpark" figure, or range, of what one would cost in California. I was looking for a purchase price, NOT a lease price - any feedback would be great! Thanks in advance!
#343 of 508 Re: What's a good price for an Optima EX? [wickedliquids]
Apr 13, 2012 (1:41 am)
I purchased my 2012 Optima EX with convenience package, leather seats, door/bumper appliques, cargo net, wheel locks.
I got it for $23,000 out the door. No lease, no finance, no trade in.
Im loving my car, i made a good choice, and i think i got it for a fair deal.
Let me know what you guys think?