Kia EV6: Just say no. For now…
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We all know this is the worst time to buy or even lease a new car. Chips and parts shortages are turning the car buying experience into a worse nightmare than it already was.
Dealers just don’t have enough cars on the lots and many of them are charging huge markups.
A friend of mine was quoted $45 000 for a Nissan Kicks!!!. Infiniti dealers charging bogus “Covid Fees” to allow you to return a car from a lease etc…
Apparently, it is the same thing with leasing. Like most of you, I am on Facebook and bombarded with ads. But this one from a local Kia dealer stood out. Usually, they don’t mention a price. Or they do mention”MSRP”. Which is not what they actually will charge once you get there.
At least this Carson Kia dealer is upfront with the crazy prices.
They offer an insane $864 a month lease for the new Kia EV6 Wind.
The RWD Wind is priced at $47 000 and the AWD version is $50 900.
Which is much cheaper than a Tesla Model Y which starts at $59 000.
And that is basically the point of the Kia EV6.
Kia trying to compete with the Model Y at a cheaper price point.
Otherwise, the vast majority of people will just get the Tesla. That’s just how it is…
But, as you can see, the local lease price is $214 more than a Tesla Model Y! With the same down payment. (bottom photo)
These dealers don’t care at all about the brand they are selling. They just want to make a quick buck. While Hyundai/Kia is trying very hard to get very competitive products are very competitive prices.
Hyundai even complained to their dealers by sending this:
” We are writing this now because with great regularity our customers around the country are voicing displeasure with certain practices which, if left unchecked, will have a negative impact on the health of our brand”.
The dealer system has to be revised. We should be able to get a car directly from the manufacturer at full MSRP. Just like Tesla. And what Saturn was doing years ago.
I would not buy a Tesla myself. But you have to admit, the much better experience of not having anything to do with a dealer, and saving $214 a month for a much more expensive car with one of the best resale values around is a huge plus.
Unless you enjoy that rare feeling of getting ripped off…
Has anyone here been through a good car buying experience in the last year?
I bought a 2021 Nissan Kicks in 10/21 at a discount off MSRP and no dealer add-ons at a Nissan dealer in Southern CA. – United Nissan
I bought a 2022 Polestar 2 in 11/21 at MSRP + Window Tint (which I would have anyhow) at Polestar in Phoenix.
I bought a 2022 MINI SE at Penske in Scottsdale, AZ at MSRP, no add-ons.
"bombarded with ads" = like on this website
I didn't know people actually leased cars. But yeah I had no issue with cars being above msrp. Only dumb people spend more than the msrp. You can still even talk them down. Had to get a car last year, new, and was still able to talk it down.
Oh, and to answer your question, it was a good buying experience. As good as it can get considering how not good most car dealerships are.
Wow, this is disgusting. EV adoption will be at a stand still for years due to this. I saw an IONIC 5 on the road for the first time yesterday. I can only imagine what they paid for it.
I got $624/month on the Tesla site for a 36 month lease of a Model Y with $5000 down by switching to the standard 19” wheels. So the savings would be $240/mo. And making things even more outrageous, Kia (not the lessee) is getting the benefit of the full $7500 Federal,subsidy when they lease a car, something Tesla no longer receives.
On the other hand, the Tesla site says expected delivery for a Model Y is December 2022. If Kia’s are actually in stock, that’s worth something to somebody.
Hey Vince thanks for the great info you've always provided, thanks for a great website.
I love cars and yes, nowdays are the worst time to get a vehicle, specially a used one.
I also share those times in the past two years with local STEALERSHIPS, pure robbery. You can call them whatever you wanna call them but still a robbery.
How come the automakers don't get involved more. How about selling vehicles at MSRP and make new owners sign a contract stating that they could not sell the vehicle for at leas a year, just like Ford does with GT owners.
I tried to buy a used 2020 Rav4 Hybrid ($38K MSRP) my local Toyota stealership wanted $53K. A used one with 8K miles. They are also charging at least $5k markup prices on new vehicles.
The best manufacture to deal right now, that I know of since I bought two new vehicles from in the last 6 months is Subaru. They'll let you built a vehicle and for the most part you just pay MSRP. I've lucky to deal with a local decent dealership, they gave me about $1300 off MSRP. I placed on order on the new Wilderness that I should get in April and also placed an order on the new electric SOLTERRA as well. The only thing is that you have to wait about 6-8 weeks for them to built your vehicle.
I'll tell you one thing, I'll never forget those stealerships, since eventually we'll go back to normal, maybe in a year of two. BUT I'll never gave them my business.
They you can read comments of salesman stating the huge amounts of money they're making for desperate buyers. GREED, pure GREED.
Also, I placed on order on my first Ford in the last 25 years, a hybrid Maverick. I placed the order just to be told two months later that they were really backed up. SO I said F-you Ford. Their vehicles are not even built in the USA. So I cancelled and I gave my business to Subaru.
Thanks for the kind words about the site!
I agree about greed 100%. And this is getting worse for some manufacturers.
Congrats on ordering the Subaru. I hear Jeep is doing the same thing. (I'm sure others too)
An EV better loses 2.7% range a year. That means in 7 years that vehicle will lose about 35miles range. What are they going to do with these used EVs? How much will they be worth 7 years from now with low range? Who is going to buy these EVs used?