Kia Forum banner

1 - 19 of 19 Posts

·
Registered
Joined
·
221 Posts
Discussion Starter #1 (Edited)
Im trading in my 09 $41,000 list KIA with 32,000 miles a fully loaded EX V8 with leather navigation and moon roof in pristine condition and the best offer I have is $17,700 !!! No more KIAs for me. Im 7 Grand upside down. I always trade every two years and I have never lost anything close to this on any other vehicle I have owned. :mad:
 

·
Registered
Joined
·
20 Posts
If you trade every two years, why not lease?

I paid 21k for my used one, with about 10,000 miles. So close to 18k (especially at a dealer) for one with 30k isn't really that bad.

But I guess any time you buy a vehicle, and trade it in 2 years later for another vehicle, you will never come out on the winning end of that one.
 

·
Registered
Joined
·
25 Posts
Definitely lease in this case. Is this a 4 X 4. Depreciation is worst in the first 2 years no matter what you buy. I would say you would have the same problem with a Ford Explorer, Dodge Durango, Chev Trailblazer etc. It seems like the bigger the vehicle the worse the depreciation, I know Ford trucks are brutal for depreciating. You might do better with Toyota 4-Runner or Honda Pilot if you are worrying about trading in every 2 years, but then again the discount's during intial purchase aren't even close to Kia. Plus, you will still probably lose on those vehicles after only 2 years.
 

·
Registered
Joined
·
25 Posts
I find dealers will gouge you on a trade in. What type of vehcile are you trading it in on, sometimes that will make a difference. If it is something very popular that they know they will sell (with/or without your business) they sometimes won't budge very much.

Not sure if there are any local dealer websites you could look at to see what dealers are selling them for, it would be interesting to see what kind of a mark-up they have on them in your area. I did a quick look on autotrader and found this vehicle for CAD $30,777 with 59,000 KM, throughout Canada they seem to mostly be up in the $27,000-$30,00 range, Here is a link: Used 2009 KIA BORREGO for Sale In EDMONTON, AB - 2790785 - autoTRADER.ca
 

·
Super Moderator
2016 FIAT 500X Trekking Plus AWD; 2016 Kia Forte5 SX 1.6T A/T
Joined
·
6,807 Posts
I always trade every two years
If you ALWAYS trade every two years, then you can afford it.

My personal opinion - it is not clever to get a brand new car and get rid of it after two years. If you want to do like that - get a used one, or a previous year, or car from showroom... But if you still insist to get a brand new, do not complain about loose of value.

Any car will be about half its sticker value after two years.
 

·
Registered
2009 Borrego
Joined
·
233 Posts
Amen I agree trading a vehicle in on a regular basis is going to be a loss every time.. sometimes more sometimes less. I'd say keep it, add an accessory or something to make it feel it newer. :) You still have warranty left don't you?...
 

·
Registered
Joined
·
296 Posts
A car is never an investment. It will always depreciate. Some worse than others. I would agree that leasing would have been your better option if you return after two years. Most places now just let you sign and drive on a lease. Nothing down. And well, they offered you $17000.00 at trade in. The car is not worthless. It is just not worth as much as you would like it to be. Why not keep it until it drops?
 

·
Registered
2009 Kia Borrego EX V8 2WD
Joined
·
111 Posts
I agree with keeping it. To buy new and trade after two years is not a wise financial decision. I bought my Borrego with 8,000 miles on it. It stickered for $37,600 and i paid $24,500. It is an EX V8 and we truly love it.

Any car that is traded after two years is going to depreciate quite a bit. What did you pay for it new?
 

·
Registered
14 Kia Sorento (V6 EX AWD), 2013 Nissan Altima SV
Joined
·
293 Posts
Im trading in my 09 $41,000 list KIA with 32,000 miles a fully loaded EX V8 with leather navigation and moon roof in pristine condition and the best offer I have is $17,700 !!! No more KIAs fior me. Im 7 Grand upside down. I always trade every two years and I have never lost anything close to this on any other vehicle I have owned. :mad:
That really sucks. That price is way below the Kelly Blue book value for that truck. It sounds like the dealer is really trying to stick it to you.

Condition Trade in Value

Excellent $23,800
Good $22,750
Fair $20,900
 

·
Registered
Joined
·
221 Posts
Discussion Starter #11 (Edited)
That really sucks. That price is way below the Kelly Blue book value for that truck. It sounds like the dealer is really trying to stick it to you.

Condition Trade in Value

Excellent $23,800
Good $22,750
Fair $20,900
You know they really don't use KBB or the black book much any longer. What they do is use records of local auto auctions and only offer the trade in price of what they can buy one for there or what one sold for at Auction. Why would they offer more to me than what they are selling for at Auction? The Borrego is just not bringing in any money at auction.
 

·
Registered
14 Kia Sorento (V6 EX AWD), 2013 Nissan Altima SV
Joined
·
293 Posts
You know they really don't use KBB or the black book much any longer. What they do is use records of local auto auctions and only offer the trade in price of what they can buy one for there or what one sold for at Auction. Why would they offer more to me than what they are selling for at Auction? The Borrego is just not bringing in any money at auction.
That is too bad. I bought mine planning on keeping it till it falls apart. It will be more of a additional utiliy vehicle. As I have had no major problems and only one minor (warped brake rotors replaced under warrantly), I have no misgivings about my purchase. Good luck.
 

·
Registered
Joined
·
221 Posts
Discussion Starter #13
That is too bad. I bought mine planning on keeping it till it falls apart. It will be more of a additional utiliy vehicle. As I have had no major problems and only one minor (warped brake rotors replaced under warrantly), I have no misgivings about my purchase. Good luck.
Oh I have no doubt that the Borrego will last a good long time, its built very well. If you intend to keep it a long time you will be fine.
 

·
Registered
GSXR1000, Aprilia SXV550, Aprilia RSV4 Factory
Joined
·
146 Posts
I think that this is the result of:
1.) Not that well known a brand (most of the motoring public is not that familar with Hyundai/Kia)
2.) Many of their earlier models were less than stellar in build quality.
It take years to get over poor products and develop good brand recognition. Hyundai/Kia's advertising and awards for safety and quality are helping turn those early perceptions around, but, it will take time. Meanwhile, lower resale price on Hyundai/Kia products makes them a better value if you are a buyer for a used vehicle.
 

·
Registered
2002 Sorento, 2009 Borrego
Joined
·
9 Posts
I've got a '09 Borrego EX v6 4wd, paid $24,500 new in DSM + ttt. Perhaps too much was paid for it. Since they no longer sell Borrego in USA it's resale will be terrible. But it should be a good time to buy a used one! Remember, buy low, get what you can at sale.
 

·
Registered
2009 Borrego EX V6 4x4
Joined
·
14 Posts
Wife works at a major auto auction and can buy 40K vehicles for less than 1/2 of that all day long.
There is such a glut of used vehicles and all the repo's and lease returns keep wholesale numbers down, be sure if you wanted to buy one you will pay nada prices for it.
 

·
Registered
Joined
·
296 Posts
Not leasing is the dumbest thing you could do if you "ALWAYS" trade in after two years (your word)...My Mom just bought the last NEW 09 Borrego on the west coast for $19500 AWD not leather. 300 miles on it.

I'm Still 7k upside down in my pontiac GTO I bought 3 years ago....so I don't really see what your car being a KIA has to do with your upside down situation...

But thats just me...I sell cars for a living.

PS...and your HOUSE is worth so much more this year than it was 2 years ago???
Think....
People are always upside down when it came to cars. Cars are never an investment and should never be considered one unless it is some vintage type car. Some cars loose less value than others. I see KIA loses a bit more than other cars in it's class.

As far as our homes, yes, the house I'm in is worth far less than it was 2 years ago. The glut of foreclosures has proved to be a thorn in my side concerning my home.
 

·
Registered
2002 Sorento, 2009 Borrego
Joined
·
9 Posts
You might do a better job of buying new also. In Oct 2009 I got a 4x4 EX V6 leather for $24,500 cash. It's done a great job, just a little rough riding, but well built. Buy new if lots of incentives and you plan to keep it for 85k or so. Otherwise, buy a 2-3 year old used with <40k miles. Let someone else pay for depreciation. Just my 2c worth.
 
1 - 19 of 19 Posts
Top