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Sorento ex+ 2020
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Discussion Starter #1
Hi !
We are on the merge of buying a Kia Sorento. We have 9000$ cash, and a Sedona 2009 to trade in (value of 2500 at dealer and 4000$ if I sell it) We are debating over two options:

1) used 2016 SXL (full equiped), 65 000 km, still on ly 6 months of warranty, hitch, permanent anticorrosive. 27500 tx inc We would pay it in 30 months with cash and our 2,95% HELOC
2) New 2020 Ex+ (almost same equipement than the 2016 sxl, less ventilated nappa seat) 45 493$ all included. We would pay it in 5 years (60 months).

Used is a bit more hassle, we have to take appointemment to SAAQ, sell and negociate our Sedona, go back to SAAQ, Also, the used car is aready 4,5 years old....oh and it's white, not our first choice of colour!

New...well it's, obviously brand new , more expensive and we will know EXACTLY what is done or not to the vehicle, 5 years of full warranty coverage...

What would be your choice and why ?

Thanks
 

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2016 Sorento SXL
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49 Posts
I got a used SXL 2016 CPO with 36k price was $27,000, no way should you pay 27k a year later. with trade and a bit back and forth got for 23500. Use NADA vs Kelly bluebook to get the actual value it's more realistic evaluation. Remember depreciation will cut about 3k value with in a few months after taking it home.

I go used and save the money for the next suv
 

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Sorento ex+ 2020
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9 Posts
Discussion Starter #4
Dont forget i'm from Canada, price is not the same and the same goes for the warranty.

27500 in cdn is 20100 in US money
 

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Sorento LX V6 2018
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536 Posts
I'd buy a used Toyota, I would not buy a used Kia/Hyundai. So far, I'm loving the build quality of the Kia, like the smoothness of the engine, seems solid as a rock but then, I'm old enough to remember when Hyundai sold a "disposable" car in the US as their first offering . Their sales tactics in the early days were to cater to minorities, low income individuals, people with poor credit with the promise a new car for the price of a used one (and then never wrote the loan for longer than 36 months because that's about how long the car would last).

Obviously they have come a long, long ways since those first days (much like the early Japanese cars came pre-rusted from the trip over on the boat) but I still wouldn't buy without the security of their warranty program (know it's less in Canada but still longer than most brands) and knowing that I will maintain the car properly. For some reason, it seems to me that the Hyundai/Kia family are more dependent upon proper maintenance, even some horror stories about not using Kia filters in the canister style V6 setup.

Now, if Kia does a true Kia CPO program and I could get the used car under that, then I would probably do it. However, most used Kia sales I see with "warranty included" are actually aftermarket warranties that are almost useless and pretty much profit making scams for the selling dealer. And, you do pay for the CPO programs because it's already rolled into a significantly higher price for the certified vehicle.
 

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Hi !
We are on the merge of buying a Kia Sorento. We have 9000$ cash, and a Sedona 2009 to trade in (value of 2500 at dealer and 4000$ if I sell it) We are debating over two options:

1) used 2016 SXL (full equiped), 65 000 km, still on ly 6 months of warranty, hitch, permanent anticorrosive. 27500 tx inc We would pay it in 30 months with cash and our 2,95% HELOC
2) New 2020 Ex+ (almost same equipement than the 2016 sxl, less ventilated nappa seat) 45 493$ all included. We would pay it in 5 years (60 months).

Used is a bit more hassle, we have to take appointemment to SAAQ, sell and negociate our Sedona, go back to SAAQ, Also, the used car is aready 4,5 years old....oh and it's white, not our first choice of colour!

New...well it's, obviously brand new , more expensive and we will know EXACTLY what is done or not to the vehicle, 5 years of full warranty coverage...

What would be your choice and why ?

Thanks
Shorter window on the warranty, if you buy used. The used vehicle warranty is not the same length as a new vehicle warranty, when a 2nd party owner takes over.
 
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2019 Kia Sorento LX V6 AWD
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28 Posts
I would never use my home to secure a loan for a car, not worth the risk even if it's minor. Credit unions can be a good source for reasonable car loans, I'd check around and see what you can get.

I chose to buy used because I got what I wanted in a one year old car, and paid half the price of new.
 

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2016 Sorento SXL
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1,330 Posts
I would never use my home to secure a loan for a car, not worth the risk even if it's minor. Credit unions can be a good source for reasonable car loans, I'd check around and see what you can get.

I chose to buy used because I got what I wanted in a one year old car, and paid half the price of new.
That's how I got into my Sorento. Some guy having a mid-life crisis traded in his 1 year old Sorento with 13K miles for a Stinger. Picked it up the day after his trade. Given the price I got, he must have taken a real bath on it.
 

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2017 Optima LX, 2017 Sorento LX
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614 Posts
If you buy a "Kia Certified" used Sorento then you get the balance of the full warranty ( you get the 10 year Power-train warranty). If you just buy a used Sorento then you only get the basic 5 year warranty. This might help you decide to go "used" if money is an object.
 

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2019 Sorento AWD V6 EX-Sangria with stone beige leather
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53 Posts
Kia has a higher depreciation rate than cars like Honda or Toyota. Because of their low depreciation rate, I would buy a Toyota or Honda new but would buy a Kia or Hyundai used. I recently traded my 2016 Honda CRV EX-L for a 2019 Sorento EX V6 AWD. The sticker on the Honda was around $31,000 and the sticker on the Kia was just under $39,000. The Honda had 65,000 miles on it and the Kia had 16,000 miles on it. I wrote a check for $10,000 difference plus state taxes paid later. I traded just under clean trade in for clean trade in. I would have paid at least $10,000 more if I had been traded for a comparable Honda or Toyota.
 

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2018 Sorento SX AWD w/Technology Package
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13 Posts
A suggestion - get the used vehicle inspected by an independent, third party mechanic prior to purchase. Any used vehicle has something that requires replacement or servicing. Unless the current seller can provide details it's money well spent if going the used route. Not terribly expensive, and it give you a comprehensive idea of what your outlay will be for that vehicle. Service costs are a big hidden factor in tne total cost to own a vehicle. Avoid surprises - knowledge may help you.

Get a clean CarFAX or equivalent, or proceed VERY carefully (if at all). Damaged or flood vehicle are only for those who don't mind putting up with tire eating, parts wearing out prematurely due to misaligned or twisted chassis, or wiring issues.

Depreciation doesn't matter if you plan to keep the vehicle the total term of the loan if buying new - pay for GAP insurance or the Canadian equivalent if available if you have concerns. Or, reserve that amount in savings if you can, so you can make up that shortfall if something unfortunate happened. If you have concerns about depreciation, say you turn over vehicles frequently, buy used and only used.

I bought a 2018 SX with tech package that had about 10,400 miles on it. The only options omitted were the trailer hitch (installing one), the 360 degree view cam, and fancy steering wheel. It is a beautiful and well-made vehicle. Came from a reputable Audi dealer, whose sister Kia dealership happily provided all service records. The price was right (about $1500 under average KBB/Black Book/NADA). Only ding was that a light smoker owned it, which I have addressed.

Best of luck on your purchase, and please remember, the more you know going into it, the more likely you'll be happy owning it for the long haul!
 

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2019 Kia Sportage. SX with AWD. 2.0L Direct Injected Turbocharged & Intercooled Gas.
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894 Posts
Every time I purchased a used vehicle I inherited other peoples problems that were not disclosed.
If you buy new you know no one prior wrecked or broke it. And, as long as you keep the vehicle for at least 10 years depreciation does not matter or come into the equation.
Buy new is my vote.....
 

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2019 Sorento SXL AWD
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169 Posts
Every time I purchased a used vehicle I inherited other peoples problems that were not disclosed.
If you buy new you know no one prior wrecked or broke it. And, as long as you keep the vehicle for at least 10 years depreciation does not matter or come into the equation.
Buy new is my vote.....
With Used you get someone else's problems as you noted, but for a reduced price from the New. I agree to buy New, and the highest trim you can afford if you are going to keep it for years. We bought the 2019 SXL in July 2018 so we got all the latest safety devices and luxury that will cover us until our next vehicle years from now (self-driving???).
ALSO, Kia may have a higher depreciation than Honda & Toyota when sold, but you get that depreciation when you buy a Kia as your price is less for the same total package.
 

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2019 Sorento AWD V6 EX-Sangria with stone beige leather
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Every time I purchased a used vehicle I inherited other peoples problems that were not disclosed.
If you buy new you know no one prior wrecked or broke it. And, as long as you keep the vehicle for at least 10 years depreciation does not matter or come into the equation.
Buy new is my vote.....
If you inherited problems on every used car you bought, with your judgement of cars, you might be better off with a new. Many people have better car judgement and are far better off financially with a good used car. I bought used cars exclusively until after I retired debt free at 55 with enough investments and savings to pay my bills and buy the toys I wanted. I then bought a new F-150 and a new Kia Optima because I had saved enough to pay cash. The friends and co-workers who made fun of me for being a cheapskate for buying used cars and living frugally, bought new cars and were/are still working, making mortgage and car payments.
 

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2019 Kia Sorento LX V6 AWD
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A suggestion - get the used vehicle inspected by an independent, third party mechanic prior to purchase. Any used vehicle has something that requires replacement or servicing. Unless the current seller can provide details it's money well spent if going the used route.
That's what I did when buying my Sorento, mechanic found a leaking damper and a bent spot on the oil pan that prevented the plug from sealing properly. Since I had 7 days to return no questions asked, I took it back and let them decide if they wanted to fix it, which they did- replaced the damper and the oil pan. Glad I had it checked out!
 

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2018 KIA Sportage LX
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3 Posts
I’m waiting for the redesigned 2021 Sorento EX to hit dealers, which should be later this year. I love the new styling and updated interior. If you’re going to purchase new, I would wait for the all-new model as the current gen is 4-5 years old already. However, if waiting isn’t an option I understand why you may not be able to do that. Just my two cents!
 

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2007 Kia Sedona (2 of them)
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38 Posts
My recommendation is to keep the Sedona! I have three of them and they're indestructible.

Honestly, given those choices purchase the used Sorento and keep the Sedona. It's a huge savings over buying new, and these vehicles do 200,000 miles without even trying. Short of the Sedona having a life-ending issue with it it's really a great vehicle to hold on to.

I know you guys all love your SUVs in this forum, but that era Sedona is a dynamite vehicle and they hold a boatload of stuff when you pull the seats.
 

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2016 Sorento SXL
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1,330 Posts
Every time I purchased a used vehicle I inherited other peoples problems that were not disclosed.
If you buy new you know no one prior wrecked or broke it. And, as long as you keep the vehicle for at least 10 years depreciation does not matter or come into the equation.
Buy new is my vote.....
But depreciation DOES come into play, even holding a vehicle for 10 years. Vehicles whose initial depreciation curve is steeper and hence, are sold at a steeper discount early in their life, still provide, on average, less $ per mile in operating cost.
I'll throw out a somewhat ludicrous example, but one that explains the math for cars whose depreciation schedule is fairly aggressive.

Car A = $40,000 new
Car A after 1 year (in the OP's case) and 10,000 miles = $34,000 used

Car B = $40,000 new
Car B after 1 year (in the OP's case) and 10,000 miles = $20,000 used

The first 10,000 miles cost the owner of car A $6,000. It cost the owner of car B -- not the new buyer of car B -- $20,000.
Granted, almost nothing depreciates by %50 in the first year, but calculating the time-value of the money IS relevant. The specifics of each case matter.

A car with only a year on the clock at half price? You get to spread the $14,000 difference across however many years (10 or whatever) you want, but it's still $14,000 in the pocket.
One does NOT always buy 'other peoples problems'. While that's more likely if the dealer took the car in on trade, a 'quick trade' (one year old vehicle) or lease returns don't generate any special amount of heartburn. Like I say, the guy that provided me with a car had his mid-life crisis, traded in his 1 year old Sorento for a Stinger, and I got a hell of a deal due to the somewhat higher depreciation curve of the Sorento.
 

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Sorento LX V6 2018
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But depreciation DOES come into play, even holding a vehicle for 10 years. Vehicles whose initial depreciation curve is steeper and hence, are sold at a steeper discount early in their life, still provide, on average, less $ per mile in operating cost.
I'll throw out a somewhat ludicrous example, but one that explains the math for cars whose depreciation schedule is fairly aggressive.

Car A = $40,000 new
Car A after 1 year (in the OP's case) and 10,000 miles = $34,000 used

Car B = $40,000 new
Car B after 1 year (in the OP's case) and 10,000 miles = $20,000 used

The first 10,000 miles cost the owner of car A $6,000. It cost the owner of car B -- not the new buyer of car B -- $20,000.
Granted, almost nothing depreciates by %50 in the first year, but calculating the time-value of the money IS relevant. The specifics of each case matter.

A car with only a year on the clock at half price? You get to spread the $14,000 difference across however many years (10 or whatever) you want, but it's still $14,000 in the pocket.
One does NOT always buy 'other peoples problems'. While that's more likely if the dealer took the car in on trade, a 'quick trade' (one year old vehicle) or lease returns don't generate any special amount of heartburn. Like I say, the guy that provided me with a car had his mid-life crisis, traded in his 1 year old Sorento for a Stinger, and I got a hell of a deal due to the somewhat higher depreciation curve of the Sorento.
The potential error in this scenario is that assuming car B is a Kia Sorento, 2020 model, you can probably get it for around $8K off MSRP. So even thought it's a $40K car, in reality for anyone who bothers to research the pricing, it's really a $32,000 car so that $8K of the depreciation was really discounting of the vehicle. If car A is a Subaru Ascent (think that's the new, bigger one), then it's going to sell for close to MSRP just because they throw in a pair of Birkenstock's (kidding to those that take everything seriously) and so it's really a $12K hit versus $6K which is still significant but other than a Yugo, never saw a car take a 50% hit in the first year so I expect the numbers are closer. I also think the Telluride will probably put an end to the increased depreciation of the Korean tagged vehicles.

But, for the moment, the Korean cars do make a compelling argument to buy used, just not for me.
 
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