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Car Buying Advice - Deep discounts on 2017 Forte, Elantra, other models

savageiknowsavageiknow Posts: 2
edited May 2017 in Kia
I'm in the market for a new car, and out of curiosity decided to check out the best deals on new cars. I used a aggregator website and found a few eye-opening deals. For example, a base Forte with Automatic, with an MSRP of around 18k, for under 12k. Same story with a few other models I checked, but not for every car I searched.

i noticed a few things — there's cashback from the manufacturer involved, which in the case of Kia is at 2500-3000, and runs either through Memorial Day and most of summer. At another dealership I actually visited briefly, they had similarly discounted Cruzes, but there was a stack of smaller cashback offers, many of which were exclusive and contradictory, making it basically impossible to qualify for the advertised price. But that seems to be the exceptional case, and the Kia dealership gave me the same quote as the price on their website, and even mentioned that there might be other incentives (loyalty).

So is this kind of deal too good to be true? There definitely aren't a lot of dealers offering these, and inventory can be limited. I also noticed that the best deals are in MD and VA, and that there are more dealers are offering such cutthroat deals in those states. If these prices are legit, then that pretty much puts a stop on my search for a 2014-15 used car. Does anyone have knowledge of such deals? I can post links if that's deemed appropriate.

Comments

  • Hey @savageiknow Thanks for reaching out to Edmunds! I'd love to help you with your question here. Kia/Hyundai are known for their large rebates, which helps them sell vehicles quite well. To be honest, I've purchased two Hyundai/Kia products, as the price certainly helped me nudge towards that direction. I got almost $5,000 off my Kia Soul that I currently own, and love. GM's rebates, to be honest, are a bit more difficult. You're right. Some have to be in stock by a certain date. Some have to have a certain vehicle within your family, etc.

    Hyundai's rebates are more upfront. For instance, in many parts of the US, you can get $6,000 right off the bat on a Sonata. I've seen some attractive deals on the Forte and Elantra's as well. I can't say as to which states have the best deals, but if dealers are particularly more competitive in your area, it's only good news for you! Can you show me what deals you're talking about? I'll take a look into and compare it to our Edmunds TMV to see how it stacks up!
  • Hey @ChaseBellows thanks for commenting. One of these deals is local to me:

    http://www.kiaofdartmouth.com/new/Kia/2017-Kia-Forte-Dartmouth+MA+-99be26170a0e0ae73edd8554ec2e217d.htm

    I looked over the page closely and realized that this price is available only if you finance with them. I called them and the rep told me that financing would qualify me for a $1500 rebate that's reflected in the $11,673 price. The rep also said that the financing deal might be attractive enough (she would be emailing me the details) at 0%, and with my first 5 months being paid for me, potentially. She also said that the loan could be paid off early after 3 months, so that would make it pretty similar to paying in cash. I asked her about any other potential snags, and she said she didn't think there would be any. Their fees also seem reasonable, $289 for doc and $135 for registration.

    I'm looking at these deals on Cargurus.com, and when I expand my radius further there are few dealers in the MD VA area, like I said, who have slightly better prices and more inventory. For example, this is a nicer equipped model with for tiny bit less:

    https://www.koonskia.com/new/Kia/2017-Kia-Forte-woodbridge-1f1f20fb0a0e0adf39e443c9ccbac01c.htm

    I looked at the fine print at the bottom of the page, and their doc fee is twice as high, in additional to a $850 freight fee. Getting a car that far away would present its own challenges, but could also allow me to expand my options in terms of features (cruise control and backup cam would be nice).
  • Hey @savageiknow Thanks for the reply! The one at Koons Kia has the the LX Popular package for $900. The package is easily worth it. Here's what it comes with: AM/FM/CD/MP3 audio unit with 4.3" rear-camera display; Auto-on/off headlights; Cruise control with steering-wheel mounted controls; Tweeter speakers; Knit and tricot cloth seat trim; Sliding armrest; Rear center armrest with cup holders; Dual illuminated visor vanity mirrors; Front passenger seat back map pocket; Illuminated ignition keylock cylinder; Map light; Sunglasses holder; Covered console with dual 12V outlet; AUX and USB input; Drive Mode Select (Normal, Eco, Sport)

    Different states will have different Doc fees. Virginia has no limit on the doc fee charge and the state average is $490. In Maryland, it's $295 with a max of $300. The one at Koons is much more affordable, and if you can get one with the same discount but the LX Popular Package, you may have the best of both worlds. When I used to work at the Ford dealer, I used to tell people to take the rebate if they plan to pay cash then pay it off in a few months with no pre-payment penalty. Might as well take advantage for free money, right?

    If you can negotiate with Koons to get you the Forte you want, and you can take advantage of all of the rebates and there isn't anything added that's for profit such as fees and added dealer equipment, it's a great purchase! Check out the article below to freshen up on what fees you should, and shouldn't pay!

    https://www.edmunds.com/car-buying/what-fees-should-you-pay.html
  • Here is what was an acceptable deal for me. April 2017 purchase: Brand new 2017 Elantra Value Edition, paid $15,200 + tax, license, title. MSRP was $21,415 . Suggested price including dealer adds at dealer cost was $21,658. Has anyone done better?
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