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
#52 of 508 Re: 2008 Optima LX 4 Dr AT PW PL AC CD CC under $12700 OTD [csandste]
Jan 13, 2009 (8:20 pm)
You bought a Kia, and you are worried about resale?
The sad fact is, Kias in general depreciate pretty rapidly, and unless an Optima has the safety gear that has become commonplace in the mid-sized class now--and standard on the 2009 Optima--namely ABS, traction control, and ESC, it will be hard for them to hold value. Fortunately, there have been great deals on the 06.5+ Optima almost since it arrived, although it's hard to beat the deal that was just posted. I don't know if you can even get a basic Accent or Rio for much less than that these days.
#53 of 508 Re: 2008 Optima LX 4 Dr AT PW PL AC CD CC under $12700 OTD [backy]
Jan 13, 2009 (8:29 pm)
Backy--Agreed. I thought I got a big discount on mine-- $16K with leather and the appearance group but this is an entire new level of discount. Of course the 09 is out. Are you still looking at the Optima? I know ESC is important and it's now standard-- right? For the record, other than the standard safety goodies (important I know), I really find the 09's rear end looks like the two gen. old Accord. Not as good as the 08 IMHO.
For the record, I plan on driving my Optima into the ground.
#54 of 508 Re: 2008 Optima LX 4 Dr AT PW PL AC CD CC under $12700 OTD [csandste]
Jan 13, 2009 (8:51 pm)
You should feel good about the deal you got. It cost more than the basic Optima the other buyer bought, but you have a lot more equipment on your car, so it should cost more. Try to get a comparably equipped new mid-sized car anywhere close to $16k even in today's rotten car market. And if you use up that 10-year warranty and drive the car into the ground, who cares about depreciation?
#55 of 508 Kia best prices found this on Website
Jan 14, 2009 (7:43 pm)
2008 NEW Kia Optima HUGE incentives $12676 OTD YMMV
I just bought a brand new 4D car with AT (162 HP, 164 ft-lbs torque, 31 mpg Hwy), AC, power windows, power locks, CD player, cruise, heated mirrors & steering wheel controls for stereo & cruise - out the door for under $13000. Price before tax, doc fees, etc was under $11,000. The sticker on this car was over $18,500 before tax, doc fees, etc. A little background & I'll explain how I got there.'
For those thinking about car shopping, now's a great time to buy. The economy's slow, new car lots are overloaded with inventory, new models are replacing the 2008s & some places are desperate to make a deal.
I had been looking at used cars & was frustrated with what people were asking, often wanting above dealer retail listed on www.edmunds.com & www.kbb.com - never been a new car guy. However, I decided to look into new vehicles with all the 'teaser' rates around $10,000 in the paper (I'm in the Las Vegas area, if that matters). Many of the 'teaser' ads are for a car that doesn't exist with a combination of rebates for which no human can qualify (i.e. Military, recent college grad, lease loyalty, dealer loyalty, etc). That said, there are still plenty of deals to be had if you do your homework, you're patient & you're persistent.
One example: The 2008 Kia Optima - if it's not your cup of tea, that's fine - I wouldn't have bought one five years ago. They've come a long way to be mentioned along the Toyota Camry, Honda Accord & also greatly improved Hyundai Sonata. It's a plain, simple car, maybe not as nicely appointed as the Camry or Accord but the gap has narrowed. My research changed my mind - internet research, word of mouth from friends & even people inside the auto industry. IF you can live with the fact it's going to depreciate faster than Toyota or Honda because of market perception & IF you don't see a car as a status symbol, this may be a very slick deal for you. Personally, I don't mind having a 2008 instead of 2009 as I'm going to keep & hold this car for a long time; that's also why I'm not getting caught up in depreciation concerns. The 2009 Optimas are coming in & have design changes, so now's the time to make a deal. You still get 5 yr/60K bumper to bumper warranty.
Current rebate on the Optima is $4000 for the 2008 model according to Kia http://www.kia.com/#/optima/offers/ In addition, you might qualify for an additional $400 if you're a recent college grad (we did, as my girlfriend graduated in May). It helped that I knew what another friend had paid several months ago, knowing I'd be able to lean on the dealer to get below invoice, which is $16,595 - by the time you add destination charge, it's $17,235 for the LX 4dr Sedan (2.4L 4cyl 5A). My friend had paid just over $15,000 several months ago, but that number included a dealer incentive as well - didn't matter, that's what I wanted, less the $4000 rebate & the $400 college grad rebate. My target price was $12,600 out the door - never expected to get that, cuz everything had to go right to get to that price, but it was my goal.
All of the Kia dealers told me I couldn't get that, because the previous price was based on a dealer incentive to get it close to $15,000. The second dealer budged a little, eventually agreeing to $13,692 out the door (~$16K less $4,400 rebates plus tax, doc fee, etc); they showed me the paperwork claiming they were taking close to a $2,000 loss since they admitted they desperately needed to move inventory. (I do believe they'd take a loss, but closer to $1,000 once holdback & other incentives were taken into account.) I called my girlfriend, told her she'd have to go with the next day if we did the deal as she was the one who qualified for the college grad rebate. I asked if she was willing to take a shot at the third dealership that night, since that's where my friend bought the car - she agreed. We went, they tried to tell me the same things, claiming the lowest they could go was ~$16K less $4,000 (rebates) plus tax, doc fees, etc. - just over $14K. I told them I already had a deal lower than that, wanted $13K & was willing to pay cash. Their 'concession' was to say they found another $1000 rebate, leaving us just over $13,000. (I don't believe it existed, think it was their way to save face to get the deal.) We hadn't yet discussed the college grad rebate, I told them it would finish the deal - since the rebate comes from Kia, they went for it. $12,676 out the door for a car that would've been over $20,000 at sticker. (Already tinted - necessary in Nevada - & with a security package.) I was willing to do the deal at $13,692 so obviously I was ecstatic to get it for $12,676.
The biggest suggestions I have are:
* Be prepared - do your research & homework, know what rebates & deals exist locally
* Be patient - the first dealer may not give you what you want, I went to three Kia dealers (and many other dealers, sitting on inventory but being more stubborn)
* Be persistent - be ready to walk away if you think they're jerking you around, stick to your guns
* Be aware - know the dealer's pain points & match that (i.e. excess inventory, no activity, poor cash flow) - it helped that I offered to pay cash to close the deal
* Be decisive - when you get the deal you want, be prepared to 'pull the trigger' & act quickly - it's a reasonable thing to offer once you've gotten what you want
Hope this helps a bunch of folks out there, it can work for any car but it's hard to beat the 2008 Kia Optima for value if you're looking for a midsize sedan.
Last edited by delgadobb : 01-12-2009 at 08:49 PM.
#56 of 508 How long before the mileage gets better
Feb 19, 2009 (8:16 am)
Just purchased 2008 Optima EX - $20,199 sticker - paid $13976. Was delighted. Drove it home - 270 miles all interstate - got 25.5 mpg. Disapointed. How long before I get maximum mileage?
#57 of 508 Re: How long before the mileage gets better [sudsy2]
Feb 19, 2009 (9:08 am)
Hyundai/Kia engines are notoriously tight. The best mileage I got on a 2.4 was about 40, all interstate. It's my wife's car and mostly around town without getting warmed up-- in general she gets worse than I do in my Malibu Maxx 3.5 liter V-6 about 20, but she drives differently than I do. On normal highway driving, I think you could average about 30 when everything's broken in -- 5-10,000 miles.
#58 of 508 2009 Kia Optima EX w/no packages
May 18, 2009 (10:46 am)
Got it last week for $17650. It was funny when the dealer tried to sneak in the destination fee of $675 into the final bill of sale ON TOP of the sale price. This fee was withdrawn after I threatened to leave.
Do I miss something here? I was pretty sure that the final dealer's final sticker/sale price does include destination, and only TTL is extra.
#59 of 508 Re: 2009 Kia Optima EX w/no packages [mohatu]
May 18, 2009 (11:20 am)
No, you didn't miss something.. obviously the dealer HOPED you'd miss something.
#60 of 508 Re: 2009 Kia Optima EX w/no packages [mohatu]
May 18, 2009 (9:32 pm)
Further proof that both Hyundai and Kia need to focus on dealer quality. I bought an Optima because in my case (at least) Kia has the better, less pushy, dealership. In your case, however, the dealer was obviously trying to pull a fast one.
#61 of 508 Re: 2009 Kia Optima EX w/no packages [csandste]
May 19, 2009 (6:29 am)
No, I wouldn't say it's only HyunKia's dealers' practice... The day before I bought the Optima I was trying to get a deal on the Insight EX no navi at the local Honda store. The talk was EXCLUSIVELY about an EX, I repeatedly made a point I don't want an LX. I picked the certain car from the lot that I wanted. We seemingly did finalize the figures for the deal and I started to fill in the loan app when my wife that was on the phone with me told me to confirm the figures for the one last time before we proceed. Just in case. I said, "So, this EX's price will be..." - and the salesman interrupts, "No-no-no... This is an LX...". All this after about 2.5 hours in the store. Imagine how furious I was. I just stood up and left.
So, one should be extremely careful while making a car deal anywhere. Weird things might happen almost any moment. Those guys count on the fact that you are either so exhausted by the end of negotiations and/or you want their car so badly that you'll agree to or miss these little tricks. Unfortunately, too many buyers do. As for me, yes, pity I couldn't get that Insight. But I'm quite flexible and for me there's many cars out there that I'd like to own and many other dealers to visit. I just move on and finally find what I want. Patience does it.
Of course, I didn't want to offend those dealers who are honest. Too bad they seem to be the minority.