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Kia Sportage, Car Buying, SUV
#18 of 41 Purchasing a new Kia Sportage - Trade or Sell the trade?
Aug 05, 2011 (8:24 am)
I currently own a vehicle which CarMax has offered $28000 to purchase it from me. I am planning on purchasing a Kia Sport and took the vehicle for a trade-in appraisal, which turned out to be $27,300. In Ohio, if you trade a car, then the value of the trade is deducted from the amount to which sales tax is applied. In this case, by trading, I would escape around $1850.
It has always been said that it is preferable to do an"all cash deal v. a trade. On the face of it (without consideration of the sales tax), the trade-in approach is $700 inferior to selling my trade to CarMax. However, is sales tax six considered, then the advantage "appears" to be $1150 in the direction of the trade.
After reading many posts in this forum and the thread regarding leases, I am seeing individuals with purchase amounts that are $2000-$4000 below MSRP (with no trade). That being the case, then it appears as if the appropriate way to proceed is biased toward not trading and instead negotiating an all cash deal.
I am wondering what the more experienced members on this board think of this. Which way would you proceed. Also, I cam considering the potential of purchasing a 2011 model rather than a 2012 if I can expect a deal on an '11 to be a 10% or greater reduction in price v. a '12. I appreciate some general guidance on this as well.
#20 of 41 Might've just made a terrible $$$ on 2012 Sportage...help?
Oct 12, 2011 (1:43 pm)
I had a deal working on a fairly well loaded 2012 Ford Edge SEL FWD leather, which, after all numbers were crunched, was going to be $512/month for 60 months. This included 2k in rebates.
The vehicle seemed too big to me, the gas mileage wasn't the greatest, so I checked on a 2012 Kia Sportage EX FWD, loaded, with leather, NAV, sunroofs, 18", backup camera, etc..
After the numbers were crunched, it's $425/month for 60 months. There was a $500 competitive car rebate (for my Rogue trade-in). Of course I quickly signed on the dotted line, like a maroon.
Now, after reviewing the data more closely, I realize they're only giving me $11,100 for my 2008 Nissan Rogue SL (54k miles loaded with leather). The Ford dealer was offering me $16,000, plus he was discounting the Edge about 4k (*plus* 2k in rebates).
Here's how the Kia sales manager rope-a-doped me: "They can't move Ford Edge's; Kia's are much more popular; I can't keep these on the lot. I can go to Dallas right now and buy Rogues all day long for 16k...blah, blah, blah."
Here's my questions:
1. Did I make a terrible deal?
2. Can I get out of the deal, even though I signed the paperwork?
2.b. What if I offer them cash? Should I offer them cash? How much cash?
3. Just how bad a deal does this sound like?
Just call me "cold...feet."
#21 of 41 Re: Might've just made a terrible $$$ on 2012 Sportage...help? [chi_latte]
by kyfdx@Edmunds HOST
Oct 12, 2011 (5:39 pm)
Have you taken delivery?
Have you given them your trade?
Have you given them any money?
If the answer to all of these questions is NO, then just call them and tell them you changed your mind...
#22 of 41 Re: Might've just made a terrible $$$ on 2012 Sportage...help? [kyfdx]
Oct 12, 2011 (7:06 pm)
Haven't taken delivery, given them my trade, or given them any money. They had to do a vehicle trade with another Kia dealer so it took a couple of days to get here. Also, I had to work. We agreed to complete the deal tomorrow. I did sign a Motor Vehicle Retail Installment Sales Contract; received a copy of it in the mail today.
Don't want to leave them high and dry, but definitely don't feel good about this deal. Especially since I feel like the sales manager led me astray on the overall value of Kia Sportage versus Ford Edge, and the Edge's cost 60 months versus his... 72 months (didn't realize that till the finance manager explained it to me; took serious negotiating to get it down to $425, and then, the final amount still wasn't right...I realize this is my fault, I should've walked then until I had a chance to think: Bottom line, I was out-negotiated.)
Plan to see what I can do tomorrow; does it look bad with the paperwork already signed, and the vehicle dealer-to-dealer traded for?
#23 of 41 Re: Might've just made a terrible $$$ on 2012 Sportage...help? [chi_latte]
by kyfdx@Edmunds HOST
Oct 13, 2011 (3:42 am)
They won't be happy about doing a dealer trade, and then not getting a sale.. but, I wouldn't make a $30K purchase just to keep them happy..
It might look bad, but I'd call them in the morning and tell them you have cold feet and don't want to do it... They can't really do anything about it.
If you aren't sure, you aren't sure.... Ideally, this isn't the way it should happen, but it did, so here you are.. If you think it's just a pre-buyer's remorse, then tell them you need another couple of days to think about it..
Good luck... let us know how it goes.
#24 of 41 Re: Might've just made a terrible $$$ on 2012 Sportage...help? [chi_latte]
Oct 13, 2011 (7:57 am)
Why are you dumping such a nice Rogue with such low mileage in the first place? I'll agree the Kia, and the Hyundai sister ute, are really nice rides but why get rid of the Rogue? Only reason I ask is that I sat in a few Rogues the other day and they seemed to be a nice truck, and one with such low mileage and leather should be a sweet ride. Or maybe it's just that you want something new. I personally prefer the Hyundai version but hey, that's just personal preference.
I agree with the others here...tell the dealer you're sorry, but you've changed your mind at this point. You don't even need to say that the money being offered on your trade is unacceptable...just that you've changed your mind at this time. Pretty sure they'll find another buyer for the dealer traded car. If you don't, you'll hate this car from day 1, not a good situation at all. Unwind the deal, keep what you have a bit longer & you'll be so much happier. If by the end of the year you still want the Rogue gone, try again. Sometimes just stepping back for awhile is the best course of action to take. You made a mistake...luckily it's not to late to get out of a bad decision.
Good luck and stay strong. After all, it's your $ at stake here.
#25 of 41 Re: Might've just made a terrible $$$ on 2012 Sportage...help? [sandman_6472]
Oct 13, 2011 (10:34 am)
Update: Bought the Kia Sportage EX loaded w/leather & NAV, and I'm very happy with the deal, and the vehicle! Fairly certain I made the best deal possible, all things considered:
1. The Rogue has been involved in several accidents and near-misses, most of which my insurance co. believes I was not at fault. Realistically, however...well, ima blame the Rogue's %$ rear pillar, but it could also be any number of other factors. Bottom line, I believe it's under control now, but I need to start fresh with a new vehicle (that I want to keep 10+ years).
For the record, Kia dealer didn't ask about prior wrecks, so I didn't offer up any details...
2. The reason the "spread" was so ginormious between their Sportage and my Rogue trade-in was due to a dealer "add-on" that I wasn't aware of: $2,739 for dentless paint repair/leather hole repair/appearance insurance.
I couldn't figure out why it looked like fully-loaded Sportage EX's were out there for ~$27,600, yet their sales prices to me was $31,374. It was the "appearance insurance" which I didn't need or want.
Once we scrubbed that b.s., it reduced my monthly payments from $425 to $385 per month for 60 months.
Hope this info helps someone else. For the record, I feel real good about this deal!
#26 of 41 Re: Might've just made a terrible $$$ on 2012 Sportage...help? [chi_latte]
by kyfdx@Edmunds HOST
Oct 13, 2011 (11:14 am)
Sounds good... You saved $2700 just by taking a deep breath and another look!
#27 of 41 2012 Kia Sportage EX
Nov 11, 2011 (10:02 pm)
Bought a Kia EX in South Florida. All the dealers here charge a dealer fee (read extra dealer profit) which they list on the sales contract as a fee. Here is the deal I worked out:
MSRP: $24,700 ($23,240 invoice per Edmunds without advertising fee)
Paid: $23,200 + $700 deal fee = $23,900