Author Topic: Trying to buy a Kia Optima!! (Read 1295 times)

Hammy · « **on:** January 06, 2012, 05:51:25 pm »

Ok, so I have been looking for a new car for a while, figured I would check out the 2011 Kia Optima, it has good reviews and I like the look of it. So took it for a test drive, it handled well, felt good behind the wheel and even the base level is reasonably appointed. So its time to talk dollars and cents with the sales guy. According to the Kia site the msrp is $25,900 including delivery with a $500 discount in effect this month and a 0.9% interest rate for 5 years. The salesguy confirmed these numbers and added $300 admin fee $500 for rust proofing and $140 for license. I told them no thanks for the rust proofing so the final price should be about $26,000 + tax of 3380 for a final price of $29,380. Then they offered me a trade in of $10,500 so we are down to 15,500 + 2,015 tax for a revised total of $17,515. Divide that by 60 months and you have $291 per month add on about $10 for interest at the low rate of 0.9% and it works out to a monthly payment of $300 give or take a few bucks.

I get quoted a monthly payment of $353 which is about $3000 over the life of the loan (50 X 60 payments) more than I think I should be paying. SO I go back and ask what I am missing and that my payment should be about $300. He says he can't give me $3000 off the vehicle, I say I don't want $3,000 off I just want him to explain the difference. He says that I don't know how to calculate a loan payment, I tell him he is full of it and it all fell apart at that point. SO he never did explain the difference to me, I figure they just added a few thousand to the price and tried to slip it by me?

Also interesting I phoned another newfoundland dealer and they told me they charge $29,995 for an Optima LX+ which has an MSRP of $27,300, which at least explains why their payments are about equal to the local dealership, they are up front about over charging for the vehicle.

I am being unreasonable here or is it just a total screwjob by the local Kia dealership?

mmret · « **Reply #1 on:** January 06, 2012, 06:10:06 pm »

Yeah should be around $300/mo.

He is screwing you.

About the other dealer, so you're saying they're selling stuff over MSRP? Really? For a Kia Optima?

Hammy · « **Reply #2 on:** January 06, 2012, 06:15:25 pm »

Yes and like $2,000 over, it is a small town so maybe they can get away with it. Funny enough I just called another newfoundland dealer in a small town and they are selling at msrp and there are hardly any mystery costs. They are offering the exact same vehicle for about $40 less per month.

mmret · « **Reply #3 on:** January 06, 2012, 06:17:52 pm »

Always thought the market would be more efficient .. but guess not.

I wonder if the first dealer was overpaying on the trade and thus had to jack in some clawback on the financing calc. Or some similarly silly game.

Jaeger · « **Reply #4 on:** January 06, 2012, 06:27:51 pm »

I don't know what your local market is like - maybe with limited choice makes your reality different from mine. But I have yet to pay as much as full MSRP - much less a premium OVER that figure - for any new car.

Jaeger

ajay · « **Reply #5 on:** January 06, 2012, 06:32:22 pm »

Good you walked .

Hammy · « **Reply #6 on:** January 06, 2012, 06:34:02 pm »

For most major brands there is only one dealer within 300 km so msrp is normally what everyone pays, selection is very limited outside St. John's generally speaking. For luxury / less popular brands (audi, bmw, mercedes, vw, volvo etc....)there is only one dealerhsip in the entire province so you can imagine how that goes.

ajay · « **Reply #7 on:** January 06, 2012, 06:43:37 pm »

Thats unfortunate .

airbalancer · « **Reply #8 on:** January 06, 2012, 08:12:39 pm »

time for a road trip to GTA and drive a NEW Car home

Or buy one in the US

CanuckG35 · « **Reply #9 on:** January 06, 2012, 08:33:23 pm »

Quote from: airbalancer on January 06, 2012, 08:12:39 pm

time for a road trip to GTA and drive a NEW Car home

Or buy one in the US

You mean a sea and road trip.

When it comes to lux brands like Merc, BMW, Audi, Lexus, and Infiniti we are pretty handcuffed here in the Maritimes as well. I can only imagine what it's like on the rock, even when it comes domestics and korean brands in the remote areas.

Julie · « **Reply #10 on:** January 06, 2012, 08:51:56 pm »

I only live 1.5 hrs from the GTA, but it's still better in the GTA.

Which is what I tell my local dealer... and then, poof! magic!, I get the price I ask for. They know I can drive to the GTA.

The first dealer might be inflating the value of the trade in, which is why he had to consequently inflate the value of the new car. I read in some article that they tend to do that because, psychologically, people almost always insist that their trade-in has more value than what it has to the dealer... and that if you play the numbers that way, people feel like they've "won" on the trade-in and don't pay as much attention to the new car's costs... as most seem to care primarily whether or not it fits under a certain "monthly payment" amount. Even if it means extending the loan *AND* paying a higher interest rate to get that monthly payment amount.

Hammy, it seems you're not sure exactly which car you want? Is it really the Optima? Then come get one in the GTA! Or say you have family and friends who will pick it up for you and drive it over.

mmorriso · « **Reply #11 on:** January 06, 2012, 09:33:43 pm »

shouldn't all 2011 models have steep discounts?

what other dealers are in your area?

Kizashi?

happy shopping!

Hammy · « **Reply #12 on:** January 07, 2012, 07:33:51 am »

Some dealerships do have good deals on, for instance you can get a 2011 Buick Regal CXL at 0% lease or finance and $5,500 in discounts, and of course Honda is doing whatever it can to get rid of its remaining CRVs. But the deals are few and far between here.

I like the CXL but it is just seems so badly lacking in power.

airbalancer · « **Reply #13 on:** January 07, 2012, 08:12:08 am »

have you been to kia.ca build and price one?
what features did you pick because to you would need lx+ to get to 27000 with tax with 10500 trade and 60 months it would be $314 a month

I phoned an Halifax dealer and get another price

sailor723 · « **Reply #14 on:** January 07, 2012, 01:44:27 pm »

Weren't you BMW shopping a couple of months ago?

You're what is known in the business as a "Loose Cannon".....the bane of a salesman's existance!

Hammy · « **Reply #15 on:** January 07, 2012, 01:59:12 pm »

Yes most of the local dealerships know me by name...... I am proud of it.....ha. They may have my picture up as a warning!

johngenx · « **Reply #16 on:** January 07, 2012, 04:19:29 pm »

$17,515 financed over 60 months at 0.9% is $298.64.

They're trying to screw you over.

Are you only getting $10,500 for the Pilot on trade? Ouch.

Hammy · « **Reply #17 on:** January 07, 2012, 04:25:40 pm »

Yeah it's the old double end screw job, screwed on payments and trade. Funny enough trade on my pilot is very low at all dealers here in town, I think they are all in cahoots. My highest offer was $12,500 but that was a few months ago at volkswagon. Now they are consistent at about $11,000.

airbalancer · « **Reply #18 on:** January 07, 2012, 04:31:59 pm »

Quote from: Hammy on January 07, 2012, 04:25:40 pm

Yeah it's the old double end screw job, screwed on payments and trade. Funny enough trade on my pilot is very low at all dealers here in town, I think they are all in cahoots. My highest offer was $12,500 but that was a few months ago at volkswagon. Now they are consistent at about $11,000.

have had any bits on your Honda, probably not

So how are they screwing you on the trade

ajay · « **Reply #19 on:** January 07, 2012, 05:24:03 pm »

When you took the Optima for a test drive how did you find the suspension ? I was in its sister car the Sonata on a 1/2 hr trip then switched to a Titanium Focus with 17's on the way back and found the Sonata clunky and cheap feeling over minor bumbs . The Focus was far more compliant and refined .