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Kia Sorento 84-month 0% Finance w/ first 6 Payments covered

  • Last Updated:
  • Dec 2nd, 2020 5:33 am
[OP]
Sr. Member
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May 12, 2012
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Richmond Hill, ON

[Kia Canada] Kia Sorento 84-month 0% Finance w/ first 6 Payments covered

Deal Link:
Expiry:
June 30, 2020
Retailer:
Kia Canada
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Saw this on a Youtube Ad funny enough. Currently, Kia (and to a similar extent Hyundai) is having a financing promotion on select 2020 models. This 7-seater MID-SIZE SUV has boasted solid reviews and Kia has cemented a positive reputation in North America (their older 4 Cyl engines had their fair share of issues). Looking at this car segment, it's still competitively priced to its contemporaries.

84-month finance option on an LX V6 model costs $511.58 monthly (I HIGHLY recommend the V6 model as the base engine is lacking in power) with %0 down payment, no trade-in and no other rebate bonuses. Base model would be $442.97 monthly. The first 6 monthly payments are covered, which is very helpful during this time, up to $4500. But in order to receive the full benefit, you would need a monthly payment of $636 which is steep for most. At the low end, you'd be looking at $2,657.82 in savings.

Anyways, you should see most automotive dealers releasing offers as their sales have slowed significantly due to Covid-19, but I hope this helps out anyone who is looking for a 7-seater SUV. And please READ REVIEWS on this vehicle and check it out before committing. I do not own this vehicle, I have one colleague that owns a 2018 model and he is happy with it. And, of course, happy haggling :)

Edit: so there have been quite a few comments in this thread that I just wanted to clarify. The 84 month option is the longest option available, however there are shorter 0% terms available. The longer term simply allows a lower rate. You can bring these prices down through negotiation, NEVER pay MSRP. Kia's reliability has increased quite a bit, as I mentioned, there were bad problems with their smaller engines in the past. This isn't a 'covid' deal per se; 0% financing is not uncommon, however, the 6 months payments (taking you to December before you make a payment yourself) is. Dealers are trying to encourage buyers to make a purchase due to sales stagnation from the climate. Dealer inventory was already purchased when the vehicles were released. The Sorento (and 7-seater SUVs in general) does not usually see as high sales volume like other smaller vehicles in their line-up further pressuring them to move some stock off the lot. The Sorento is also seeing a refresh for the year 2021.
Last edited by Ferny111 on Jun 25th, 2020 2:01 pm, edited 6 times in total.
512 replies
Deal Guru
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Jan 10, 2008
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Wonder if I should wait a bit like until late summer. Am expecting.most dealers to be liquidating more 2020 models?
Deal Addict
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Oct 26, 2007
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YYZ
wait a few more months for the real deals to start.
Licensed Full Service Realtor
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Jan 15, 2006
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Richmond Hill
Aside from the 6 months of deferral is this really a "covid" deal? Seems like business as usual offering "0%".
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Sep 3, 2006
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Winnipeg
EP32k2 wrote: Aside from the 6 months of deferral is this really a "covid" deal? Seems like business as usual offering "0%".
It's not deferral, it's up to 6 months of payments. It's a discount on top of 0%.
Don't like the thread? Hide it or report it. Don't incessantly complain about it in the thread, please.
Deal Expert
Jan 15, 2006
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Richmond Hill
jcon wrote: It's not deferral, it's up to 6 months of payments. It's a discount on top of 0%.
So the deal is the 6 months of payments combined with their usual "0%". Doesn't seem hot at all.
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Sep 3, 2006
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Winnipeg
EP32k2 wrote: So the deal is the 6 months of payments combined with their usual "0%". Doesn't seem hot at all.
So, up to $4,500 off and 0% financing isn't hot?
Don't like the thread? Hide it or report it. Don't incessantly complain about it in the thread, please.
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Jul 21, 2013
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Calgary
I've had many cars and now drive a new 2017 Sorento, I wouldn't look at any other cars in that segment. The new highlander? Honda Pilot? No thanks, no way the match up to the Sorento.
Member
Mar 18, 2015
223 posts
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Mississauga, ON
[...]

I’m just waiting until they do this deal for the optima.
Last edited by Mars2012 on May 24th, 2020 2:12 pm, edited 1 time in total.
Reason: post you are responding to was removed
Deal Addict
Aug 27, 2009
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M1sho2000 wrote: 84 months financing? Ouch 🤨
I never understood these comments. While 7 years is a lot, I believe you can pay it as fast as you want.
Last edited by lleb13 on May 24th, 2020 5:51 pm, edited 1 time in total.
Deal Fanatic
Nov 21, 2013
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restie wrote: [...]

I’m just waiting until they do this deal for the optima.
Off topic, but I own a 2013 Optima 2.0T. Great ride so far. Have you seen the 2021 Optima? Really nice design IMHO. I'd wait for the 2021 to be out before buying., as for now there is not really incentives for the Optima
Last edited by Mars2012 on May 24th, 2020 2:12 pm, edited 1 time in total.
Reason: edit in quote
Member
Aug 28, 2016
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jcon wrote: So, up to $4,500 off and 0% financing isn't hot?
financing is built into the price. Oldest trick in the book. Wait till they offer employees pricing. You will notice the price of the car is cheaper, but the financing rates higher.
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Apr 21, 2004
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This is a race to the bottom, in terms of interest rates.

I might just wait for -1.99% 96 months offers that may come out sooner than later. :)
Newbie
Apr 25, 2016
4 posts
FYI there is an all new Sorento model that is around the corner. (Same goes with Tuscon)

It is a drastic refresh. I don't think this is only a "covid" deal, but that they are just trying to clear the remaining of their models with dwindling sales.
Deal Fanatic
Nov 21, 2013
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lleb13 wrote: I never understood these comments. While 8 years is a lot, I believe you can pay it as fast as you want.
Sure. But then what is the point of buying pricer (0% is not a real 0%, it is hidden in the original price) if you can take a shorter term paying cash via HELOC and pay cheaper for the vehicle? With a 84 months you still owe money on the loan while the vehicle worth almost nothing. Take note that you have to be well disciplined to buy a car via HELOC
Deal Addict
Jul 7, 2016
2980 posts
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yes exactly when it is at 0% interest rates car payments aren't like a mortgage you can put money on your loan anytime you want.
Sr. Member
Jan 26, 2014
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Toronto, ON
Mike2258 wrote: financing is built into the price. Oldest trick in the book. Wait till they offer employees pricing. You will notice the price of the car is cheaper, but the financing rates higher.
unless you're paying cash this will probably turn out to be cheaper.
ps you can probably get another 2000-2500 off easily.

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