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2013 and earlier Kia Optima Prices Paid and Buying Experience

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Comments

  • backybacky Twin CitiesPosts: 18,618
    Would someone really feel bad if they hood winked a car salesman?

    As in, falsifying a car title or college transcript to get hundreds of dollars in cash? Unfortunately, there's some people who would not give that a second thought. But in my eyes, it's fraud.
  • I'm not saying I'd do that - it's the dealer that would do it if he could.

    My father worked for GM for over 35 years - he was in finance with GMAC -
    I could tell you endless stories of what dealers would do.

    I can't tell you much has changed over the years - buyers are certainly better educated coming in, but dealers still play the same games they always have.
  • brandenbbrandenb Posts: 12
    Any thoughts on this deal?
    Optima SX, Prem. Touring only, no Tech
    MSRP: $30,450
    Incentives: Competitive-$1K, and Kia Finance-$500
    Financing: 1.9% for 36 months
    Location: Alexandria, VA
    Price: $26K, plus tax, tags, and processing fee
  • 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.

    image

    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:

    MSRP $27,100
    Competitive Discount $ 1,000
    Finance Bonus $ 500
    Trade-In allowance $ 2,300
    Final Price $23,300

    Down-payment $1,000

    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.
  • pegasus17pegasus17 Posts: 536
    REF: 334
    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!
  • 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."
  • crfabcrfab Posts: 7
    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.

    Thanks.
  • akg4yakg4y Posts: 16
    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?
  • akg4yakg4y Posts: 16
    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.
  • 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.

    Remember:
    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...
  • 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!
  • mega13mega13 Posts: 7
    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?
  • pegasus17pegasus17 Posts: 536
    ref: 343
    Need details like msrp, purchase price, fess tax to decide if the deal was good/fair. Posting 23k o-t-d does little for us out-of-state guys
  • Need some tips...

    I'm about to finish a deal for the 2012 Optima SX Turbo fully loaded, with tech and premium package. They've added wheel locks, all weather floor mats, rear bumper applique, cargo net, tinted windows, and remote start. In the deal there's a 2 year free maintenance included.

    I'm getting the $1,000 of competitive incentive. Dont remember very well on the final negotiated price, but the Lease comes out to be $448 per month, 36 months and 15K miles, nothing down, just registration fees, $200 bucks.

    I've been shopping around in nyc, and got very similar prices, but without all the features.

    Is this a good deal? I see a lot of people on this forum talking about payments within the 350-400 range.

    I'd appreciate your comments. Thanks!
  • pegasus17pegasus17 Posts: 536
    edited April 2012
    ref: 345
    Rule of thumb on a decent lease deal is $12 per $1000 of MSRP for a standard 36 month, 12k per year lease deal. Given that you are at 15k per year that will reduce the residual by 2%. Need the selling price, residual % and money factor to do the real calculations.
    Your current deal seems too high especially given the 1000 rebate.
    FWIW, I leased my 2011 Sonata for less than $11 per 1000 of MSRP but they were giving them away when they first came out.
  • Well, Here's the info:

    MF: 0.00060
    Residual: 55%
    Final Selling price: 28,500
  • astrolastrol Posts: 312
    edited April 2012
    Found several fully loaded with Prem. Tour and Tech pkgs and all mats, locks, etc. with MSRP of $31,870.

    Got an e-mail offer on a Ebony Black for $28,365. They were giving $3500 off including $1500 in incentives and $2005 discount. Used that e-mail to shop on phone and in person at other dealers which had Satin Metal cars, color my wife wanted. My closest dealer matched and that was where she had previously test driven the very car she bought, so my wife is very happy.

    We have no garage so unfortunately she wanted the protection packages and more warranty for the electronics. Also added the new remote start module for $599 which at least saves me having to go out and warm up her car. But we bundled at a very good discount and will pay off the car in 3 years at $627mo, choosing the KIA 1.9% instead of the 0.9% with a lower down payment. We also keep our cars at least 10 years.

    Usually buy at no-haggle dealerships but this was very similar and no high-pressure crap. Not the best deal but we are very satisfied.

    FYI, with the SX Limited (Chrome-mobile) coming either this Summer or Fall, the turbo motors for the EX are nowhere to be found where we are in Maryland and so even SXs are getting very scarce. The White's are so rare here they are going for list. Go figure.
  • Kirstie@EdmundsKirstie@Edmunds Posts: 10,675
    If you recently bought a Hyundai or Kia, a reporter would like to learn what you cross-shopped. Please email PR@edmunds.com no later than Friday, April 27, 2012 with details and your daytime contact information.

    Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.

  • Hi All,

    Just bought a 2012 Kia Optima LX w/Convenience Package

    MSRP $22590

    Cash Price (w/o TTL) $20,800
    Competitive Rebate -$1,000
    KIA Financing -$500

    Final Cash Price $19,300 + TTL
  • rick2456rick2456 Posts: 320
    edited April 2012
    That is pretty much the same deal I got. The MSRP was $24,240 with the dealer add on bringing it up to $26,500 (sickening, right?). I had a trade in with about $1500 and got $1500 in rebates. The OTD price was right at 23k (adding tax/title). Definitely not a pleasant experience and I would never recommend this dealer to anybody (Cobb County Kia (Kennesaw, GA)). Considering their first offer was above 28k, I guess I got a decent deal, but never again. I have bought numerous vehicles and this is the worse experience I have ever had buying a vehicle. I should have walked out. But on the good side, I do like the Optima (EX) I bought (for my wife) and hopefully it will hold up for years to come.
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