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They are definitely dealing, even though this is a new car. Before incentives, I bought an '11 EX 4-cyl with premium and 3rd row for $700 below invoice. Final price was $24300 after $1000 competitor rebate and 0% for 48 mo. We have been extremely happy with the car over the last week. It is not a luxury vehicle, but the ride, handling, noise levels, and refinement are head of the group. The 4-cyl is made OK, with 0-60 under 10 sec and relative quiet operation. For the 1st 300 miles on a new engine and mixed hwy/city driving we are averaging 22 mpg - good IMO. A new 200 hp theta engine comes out later this year with direct injection and better fuel economy. It would be good if it made it to the Sorento. The base stereo, on the other hand, sounds average at best, and I am no audiophile. The next package with audio and nav was only $2k more but we didn't need it.
I live in Ohio and bought a new 2011 last weekend. I ended up buying the LX model with convenience package, floor mats and cargo cover. MSRP came to 26,130 if I remember correctly. There was a $1,000.00 rebate and another $1,000.00 in customer loyalty because I already owned a 2004 Sorento. So that was $2,000.00 off the MSRP. They came off the sticker about another $1,000.00 so the total was $3,000 off MSRP. I don't consider that a blockbuster deal but I was OK with it. You cannot get the $1,000.00 rebate AND the special interest rate. But you can get the loyalty cash along with the interest rate. In lieu of $1,000 rebate, they are offering 0% up to 36 months, 2.9 for 48 months or 3.9 for 72 months.
Had an OK buying experience. It wasn't good but it wasn't bad. In the end I got what I wanted, I new Sorrento. Price paid with rebates and TTL was $19,900 It is a White LX 4x4 with floor mats and cargo tray included. No other extras. I thought it was a good deal and the sticker was in the $25,500 range. This was at Osborn Kia in Lakewood Colorado. The Salesman and service guys were good but everyone else at the dealership was lame.
My initial experience with Martin Kia was that they gave me a price that was basically sticker, and said they couldn't do better than that, and that they couldn't look for the car unless I put down a deposit. I talked to Kia of West Chester on the phone only, and they gave me an OK price but tried to sell me on how they have these gimmicks like a $1000 or so "shopping spree", a 3-night vacation, etc which all had plenty of strings attached. I think you're right that the salesperson's perception has a lot to do with it, along with the circumstances... I think the test drive is as much about you testing the car as it is them getting info out of you. I would guess they saw my wife & I as two 25-year olds who mostly knew what they wanted but hadn't really bought any cars before (which is basically true, except for a saturn which is much different) and did some research online but didn't have any firm numbers (again, also true, I didn't plan to buy on that first trip). Their goal was to sell to me before I left that first time and firmed up my numbers. They didn't volunteer any info and didn't budge for me. It all depends on the salesperson's general tactics and how the salesperson reads you as to how they approach selling you a car. On the second, unannounced trip to the dealership when I just gave the sales manager the price to beat and said if they beat it I would sign all the paperwork on the spot, they magically changed their tune... but they had no choice, I gave them the impression that I was either going to buy from them at the price I wanted or walk out & drive straight to West Chester (which is basically true). If I lived closer to West Chester, I probably would have just bought from them, but I felt some sympathy to Martin since they took me for the test drive, plus they beat the price. I don't really have a lot to compare my experience with though, just my first car I bought from Saturn which was one of the salesperson's first cars he ever sold. Also a trip to I think Honda around that same time where the salesperson looked (and acted) exactly like John Travolta in one of his movies where he's a bad guy, drug dealer, etc.
OK, I think I have this figured out. I used an auto loan calculator for both the car interest and MMA interest. 5 yr loan for $20,000, $750 rebate used as down payment, sales tax financed. Total Car interest @ 2.9% $1,509.40 Total MMA interest @ 4.9% $2,590.60 Profit $1,081.20 15% income tax on $2,590.60 $388.59 Total Profit $692.61 CC 1% rebate $215.10 Kia rebate $750.00 TOTAL GAINED $1,657.71 (plus the $500 dealer discount) This would probably only be worth doing if Kia allows payment by CC. I pay my Chase rebate card automatically each month directly from my MMA. This all depends on MMA interest rates staying high enough to pay the income tax. Othewise, I'd pay the loan off and at least have gotten the $750 rebate.
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