Automotive

New vs used (Kia Sorento)

  • Last Updated:
  • May 29th, 2020 9:24 am
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[OP]
Deal Addict
Jul 23, 2008
1103 posts
293 upvotes
Montréal

New vs used (Kia Sorento)

Hi ! we want to change our Kia Sedona 2009 for a Kia Sorento .
1) We have 6500$ Cash
2) I guess our Sedona could still have a 2000$ value

2 options:

Option A) Buy new (with cashdown and Sedona value) with actual rebate (6 months paid and 0% for up t0 84 months) Sorento lx v6: 488$ per month (tx included) for 72 months (66 months)

Option B) 2017 Sorento Ex (value of 41k when buyed new) , 54 000 km, winter tires on rims, hitch, still almost 2 years of warranty for 23 000$. 6500$ cash, trade the Sedona , put the remaining amount on our heloc (2,95%). 512$/month (all in) for 36 months

What would be your choice ?

Thanks !
5 replies
Deal Fanatic
User avatar
May 8, 2002
5118 posts
1701 upvotes
I would much rather do the latter. Depends how long you can wait as well, because I bet the prices on used vehicles will trend downwards as dealerships have excess inventory sitting on their lots. I've always been a 2-3 years old vs new buyer, so I am a bit biased, but from a purely financial standpoint the latter makes way more sense, and you have a good chunk of the original warranty left to take advantage of.

You'd also have to factor in the extras that you mentioned, as those could easily add up to $1000+ if you had to buy them yourself.

I am also in the exact same market for the exact same vehicle, so I've been watching the prices myself and debating different strategies as well.
[OP]
Deal Addict
Jul 23, 2008
1103 posts
293 upvotes
Montréal
Thanks, we also are more inclined to go for the Option B. I just saw 2021 Sorento pictures....it looks great. No point of getting a 2020 and paying for 6 years when the newer one will loolks that much better !
[OP]
Deal Addict
Jul 23, 2008
1103 posts
293 upvotes
Montréal
Anyone else have an opinion on that ?
Member
Jan 2, 2009
221 posts
17 upvotes
Pembroke
Well I am in the same situation. 2017 Sorento SX for 25 000 or get the a new basic one for 32000 I think I will go with the 17
Sr. Member
Oct 24, 2004
779 posts
153 upvotes
Someone said in the Hyundai/ Kia hot deals forum about doing the same thing with option B. I think that's brilliant. Because they have a 5 year warranty and the car depreciate more then any other car manufacturer it only makes sense going that direction. You get a 3 year old the top of the line car within 50k km, 2 years warranty left, put it on your Heloc and pay it off in 36 months.

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