I traded in my 2011 Sorento EX V6 5 weeks ago. The Toyota Dealership put a sticker price of $25,990 on it. It had roughly 18,100 miles on it. It had an MSRP of $31,100 new. I paid a little over $28K OTD. It was sold yesterday but the Dealer wouldn't tell me how much of course. I'd say this has to make most Sorento owners feel pretty good about these cars holding their value.
Sorento Resale Value
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We paid around $42k for ours.
Traded it in 2yrs later, with 37,000km and got about $27k for it.
Traded it in 2yrs later, with 37,000km and got about $27k for it.
Kelley Blue Book says the Trade-In value on a 2011 KIA Sorento EX V6 w/18100 miles is as follows:
Excellent $22,535 Very Good $22,035 Good $21,235 Fair $18,935
So you can start to get an idea of what the dealer may have actually got. It is also likely that the dealer did not sell the vehicle at retail, opting instead to have the car sold at an auto auction.
If you calculate the excellent Blue Book value of $22,535, to the sticker price of $31,000, you ascertain the vehicle lost 72.69% of its value the first year which is NOT a very warm and fuzzy feeling. Pretty tough actually. Hope you got more than that value. Intelliprice is even more harsh than KBB and a lot of dealer use the Intelliprice valuations to determine used car trade-in valuations.
Excellent $22,535 Very Good $22,035 Good $21,235 Fair $18,935
So you can start to get an idea of what the dealer may have actually got. It is also likely that the dealer did not sell the vehicle at retail, opting instead to have the car sold at an auto auction.
If you calculate the excellent Blue Book value of $22,535, to the sticker price of $31,000, you ascertain the vehicle lost 72.69% of its value the first year which is NOT a very warm and fuzzy feeling. Pretty tough actually. Hope you got more than that value. Intelliprice is even more harsh than KBB and a lot of dealer use the Intelliprice valuations to determine used car trade-in valuations.
Without you knowing the options on the car you don't really know what your looking at. The car was flawless and KBB value for trade is over $23K. And your math is way off. If you use your figures it lost less than 30%. 22535 is 72% of 31000. Meaning it retained 72% of it's value. Plus it was almost 2 years old. I bought it in June of 2010. I see math was not a strong point for you.
Purchased my 2011 Sorento base model(4 cyl,6 speed manual) in January 2010 in Albany ny.Paid 16,500 plus tags and sales tax.Traded it November 2011 in Johnson city,tn on a 2012 Ram truck.Truck stickered for 26,000.Got the truck for 21,000 and was allowed 17,500 in trade for the Sorento.Mileage at trade in 12,000.Condition of Sorento excellent but there was a parking lot dent in the tailgate that had been estimated 500 dollars to repair.Not bad.Free car for almost 2 years.I loved my Sorento once Kia stepped up and replaced the klunking front struts under warranty.I would buy another one.
I do it all the time. Not the sofa part but trading in. I love new cars. Some people choose to spend their money on fancy clothes, or drinking and partying or expensive vacations or having big families or a multitude of other ways. There is no "Right"way to live.
If that's the case, wouldn't leasing be a better option?
Bought the Sorento thinking we might want to get better fuel mileage than we were getting on our 2004 Mercury Mountaineer AWD V8. With our youngest going away to college and tuition, room, board, and books running about $45K/year we thought we would get something cheaper in price so we bought the Sorento. Fully intended to pay off our 3 year loan which the original loan amount was just over 14K and keep it about 6 years. Never completely happy with the thing. Very good looking car and the drivers seat was very comfortable. I never like trading a vehicle in before it's paid off and we drive it a couple years more. I owed very little on the Sorento, paid it off, and traded for the Highlander. Love the Highlander. I don't ever want to buy a car again so soon. I know we lost money and I learned a hard lesson about buying what we really want and like in the future. Even at 56 I learn things.
Hey "Carlover", you are correct, the 2011 KIA Sorento EX merely lost 27.31% of its value. Kbb numbers are based on a 2011 Sorento EX V6 with options. The value is based on the Model Year, not ownership years, as are all used car valuations. You said the vehicle had a sticker of $31,000 and I was able to match the vehicle based on the options to match the sticker value of the vehicle. But based on a 1 year model year vehicle the retention value is bad. But that does in fact occur on many vehicles.
Sorry you feel you have to go to personal attacks and question anyone's ability.
Just the facts.
Sure would be nice if these vehicles would get better gas mileage even close to what KIA claims they get but they don't. KIA now claims some of the Sorentos get up to 38 MPG on some vehicles. That is a fantasy.
Sorry you feel you have to go to personal attacks and question anyone's ability.
Just the facts.
Sure would be nice if these vehicles would get better gas mileage even close to what KIA claims they get but they don't. KIA now claims some of the Sorentos get up to 38 MPG on some vehicles. That is a fantasy.
Would be interested to know what you traded for, and how your new vehicle compares to the 2011 Sorento. Didn't you trade for a 2012 Toyota Highlander Limited 4WD? If so, now wait till you see how that vehicle holds its' value.
If you did get the Highlander I would like to know how it compares to the Sorento. Are you averaging more than 24 MPG?
If you did get the Highlander I would like to know how it compares to the Sorento. Are you averaging more than 24 MPG?
Leasing can be a very viable option. Watch the mileage.
You can negotiate the capitalized cost of the vehicle. And watch out for those add-on stickers at dealerships that claim they have added $1,000, $1,500 etc. to the original MSRP with some cheap addons. This is nothing but dealer markup and pure profit and they are gonna try to stick it to you! I refuse to do business with a dealership that uses addon stickers.
You can negotiate the capitalized cost of the vehicle. And watch out for those add-on stickers at dealerships that claim they have added $1,000, $1,500 etc. to the original MSRP with some cheap addons. This is nothing but dealer markup and pure profit and they are gonna try to stick it to you! I refuse to do business with a dealership that uses addon stickers.
Auction Transaction Report With Exact Matches
Date: __________ US: National Edition: June 16, 2012
VEHICLE IDENTIFICATION
--------------------------------------------------------------------------------
Search: ____________________
Make: KIA
Model: SORENTO AWD V6
Style: 4D SUV EX
Year: 2011
Engine: ____________________
REPORTED WHOLESALE AUCTION SALES - With Exact Matches Type Odometer Price Sale date Auction Engine T
R Cond Color Sample
4D SUV EX 6,530 $26,200 06/06/12 DENVER 6G A Abv BURGANDY Y
4D SUV EX 15,060 $24,250 05/23/12 NJ 6G A Avg GRAY Y
4D SUV EX 16,990 $23,800 06/05/12 OHIO 6G A Avg BLACK Y
4D SUV EX 19,683 $23,200 05/17/12 ALBANY 6G A Avg WHITE Y
4D SUV EX 14,717 $21,400 06/13/12 HRSNBURG 6G A Blw MAROON Y
4D SUV EX 27,754 $18,200 06/13/12 NJ 6G A Blw GRAY N
--------------------------------------------------------------------------------
R E C A P
Make: KIA
Model: SORENTO AWD V6
Style: 4D SUV EX
Year: 2011
Prices High: $26,200
Low: $18,200
Average: $22,842
Average Odometer: 16,789
# of Vehicles: 6
Looks like KBB is right on the money with Manheim auction reports......................... Averaging $22,842.
Date: __________ US: National Edition: June 16, 2012
VEHICLE IDENTIFICATION
--------------------------------------------------------------------------------
Search: ____________________
Make: KIA
Model: SORENTO AWD V6
Style: 4D SUV EX
Year: 2011
Engine: ____________________
REPORTED WHOLESALE AUCTION SALES - With Exact Matches Type Odometer Price Sale date Auction Engine T
R Cond Color Sample
4D SUV EX 6,530 $26,200 06/06/12 DENVER 6G A Abv BURGANDY Y
4D SUV EX 15,060 $24,250 05/23/12 NJ 6G A Avg GRAY Y
4D SUV EX 16,990 $23,800 06/05/12 OHIO 6G A Avg BLACK Y
4D SUV EX 19,683 $23,200 05/17/12 ALBANY 6G A Avg WHITE Y
4D SUV EX 14,717 $21,400 06/13/12 HRSNBURG 6G A Blw MAROON Y
4D SUV EX 27,754 $18,200 06/13/12 NJ 6G A Blw GRAY N
--------------------------------------------------------------------------------
R E C A P
Make: KIA
Model: SORENTO AWD V6
Style: 4D SUV EX
Year: 2011
Prices High: $26,200
Low: $18,200
Average: $22,842
Average Odometer: 16,789
# of Vehicles: 6
Looks like KBB is right on the money with Manheim auction reports......................... Averaging $22,842.
How does one get to see those auction reports? That is a great tool.
He is a carman..or,has access to one's Manheim account.
A Toyota Highlander 4wd V6 getting more than 24? It's only rated for 22mpg. Can't really say what it will be since we just got it and my wife drives it 90% of the time. I had it out for a day last week and I got 22 on the Highway according to the computer, but we all know that probably is about 1mpg over actual. I didn't buy it for fuel effeciency. I bought it because it is a much more solid ride and roomier especially the second row, but what else can you expect from a vehicle that was listed at almost $40,000. That second row allows my two sons whom are both 6'4" to sit and still have a couple inches of room between the front seat and their knees. My whole point to the original post was not to put down Sorento. I think Kia is doing a great job with it along with the Optima. I just wanted to give my personal experience about what KBB, that's Blue Book not Black to be specific, says my Sorento was worth on a trade which was over $23,000 and what the Dealer, not at auction, was retailing it for. When they looked at it they knew exactly when it was built and when we bought it so it was really 2 model years old. I don't want to get in a pissing match with you so this will be my last comment about MY personal experience.
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