The Kia Sorento: A Hidden Gem in the SUV Market
Are you in the market for a new SUV? You might want to take a closer look at the Kia Sorento. This often-overlooked vehicle is making waves in the automotive industry, and for good reason. Let's dive into why the Sorento deserves your attention.
A Surprising Contender
The Kia Sorento recently caught my eye, not just because of its affordable price tag, but also due to its attractive lease options. What's even more interesting is that Kia doesn't need to offer crazy deals to move these vehicles - they're selling pretty well on their own merits.
Many people assume that the Hyundai Santa Fe outperforms the Sorento by a long shot, but that's not necessarily the case. In fact, from a design perspective, I actually prefer the Sorento. The only thing holding it back from surpassing the Santa Fe in this segment is that many people simply don't realize the Sorento still exists!
Affordability Meets Quality
One of the smartest moves Kia has made is concentrating a large portion of their inventory on the lower-priced base trim level S. This is crucial in today's market, where many models struggle to sell due to their high price points. The Sorento strikes a balance between affordability and quality that's hard to beat.
Sales and Inventory Data
Let's look at some numbers:
Kia sold about 95,000 Sorentos in the US last year
This puts it nearly on par with the Hyundai Santa Fe (115,000 units)
Competitors like the Honda Passport and Mitsubishi Outlander are selling far fewer units
Inventory-wise, Kia has about 20,000 Sorentos available, including hybrid and plug-in versions. The majority are gas-powered models, with the S trim being the most abundant.
Pricing and Discounts
For our example, let's consider an S FWD model with an MSRP of $36,760. While getting 8-10% off MSRP might be challenging, aiming for a 5-7% discount is realistic. I'd personally target at least 6% off, bringing the price down to $34,554.
Current Incentives
Kia is offering some attractive incentives:
1.9% promotional financing for 60 months
$2,000 rebate (but this may not be the best option - more on that later)
$750 loyalty incentive for existing Kia customers
Financing vs. Leasing
When it comes to financing, you have two main options:
Take the $2,000 rebate and finance at a higher rate
Skip the rebate and use the 1.9% promotional financing
Interestingly, the second option could save you about $10 per month and $600 over five years.
For those interested in leasing, the Sorento offers a competitive program with a 65% residual at 36 months and 12,000 miles per year. With a 6% discount off MSRP and $2,300 in lease cash, you could be looking at a payment of around $362 per month (not including tax).
The Verdict
While the lease deal is attractive, I believe buying the Sorento and keeping it for the long haul might be the smartest move. For around $35,000, you can own a reliable SUV that should last well beyond the typical 3-year lease term.
Conclusion
The Kia Sorento is a hidden gem in the SUV market, offering a combination of style, affordability, and quality that's hard to beat. Whether you choose to buy or lease, it's definitely worth considering for your next vehicle purchase.
Want to learn more about the Kia Sorento or other car-buying tips? Leave a comment below with your thoughts or questions. And don't forget to check out the video that inspired this post for even more detailed information!
