Jan. 06, 2025
Automobiles & Motorcycles
The Kia Telluride has quickly established itself as a market favorite among consumers. With its impressive rise to the top of the midsize SUV segment, it has become a tough competitor that many wish to own. As a result, new and used Telluride vehicles are facing markups nationwide, leading to higher prices than their MSRP.
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The Kia Telluride stands out as one of the most sought-after SUVs available today. It caters well to families while also providing an engaging driving experience for various drivers. The elevated demand for Kia's midsize SUV has outpaced supply, which has contributed to its rising market prices.
According to Kelley Blue Book, the fair purchase price for a used Kia Telluride is approximately $35,986, while its starting MSRP is around $33,390. For new models, the KBB fair purchase price is $31,551, with an MSRP of $32,190.
Due to the Telluride’s overwhelming popularity, many used examples are being sold for prices exceeding their original MSRP, whether through dealers or private sales. Consumers are keen to pay above MSRP for this sought-after model as availability becomes increasingly limited. Although the latest iteration of the Kia Telluride is the priciest yet, demand continues to surge.
The Kia Telluride's appeal lies in its remarkable value proposition. The models come with numerous luxury features as standard, including SynTex-trimmed seats and a leather-wrapped steering wheel.
Initially, the Telluride was recognized as one of the most affordable options in its class. However, its starting price has seen a significant increase for the latest model year. Nevertheless, the nameplate maintains a strong reputation among consumers, as it has become synonymous with exceptional value. Praised across several midsize SUV rankings by prominent automotive publications, the Telluride's high ratings reinforce its market position, making it harder for consumers to overlook.
The starting price for the Kia Telluride is now $35,690. The vehicle boasts updated design elements, including a revamped front bumper, grille, and headlights. Additionally, it comes equipped with a large 12.3-inch digital instrument cluster and a corresponding infotainment system, mirroring the features typically found in luxury vehicles.
Retaining the same V6 engine as its predecessor, the fuel economy of the Telluride remains unchanged. Despite the increased starting price, the recent refresh of the Telluride continues to appeal to consumers.
In most instances, manufacturers grant car dealers the autonomy to set their prices according to local demand. This can result in significant markups on popular vehicles, sometimes reaching tens of thousands of dollars. However, several strategies can help you dodge these dealer markups and secure the best possible deal.
A quick glance at the listing prices can often reveal markups, such as a new Kia Forte priced at $21,210 with a selling price of $26,205—resulting in a $4,995 markup (23% above the MSRP).
Here are critical insights regarding markups and how to navigate them.
Every dealer has distinct policies regarding markups. When the C8 Corvette debuted, online communities compiled lists of Chevy dealers committed to not charging above MSRP, despite high demand.
Markups are not limited to luxury cars alone. A chip shortage led to manufacturing slowdowns, resulting in fewer vehicles available. While conditions have improved, even a Kia Forte may experience a market adjustment based on dealer assessments of supply and demand.
It's wise to shop around—some dealers might sell a hot vehicle without a markup. Checking multiple dealers is simple, but remember that your experiences can vary. Look out for terms like "market adjustment" or "dealer adjustment" in listings.
For instance, a new Toyota Corolla listing might casually reference a market adjustment.
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Dealers sometimes promise MSRP sales, only to add overpriced add-ons. This includes common items such as a "Protection Package" or "Pro Pack" designed to defend a vehicle’s paint and undercarriage. Always inquire about add-ons early during negotiations.
Some add-ons might be negotiable. For example, if a dealer suggests cargo mats at a inflated price, you could decline. However, port-installed options may not be removable. Accessories like protective door guards added before you take delivery are usually fixed.
In a real-world situation, a local Subaru dealer charged $400 to $500 for clear film protection but agreed to discount the car's price to offset for that add-on. Hence, you might find yourself in a more negotiable position than expected.
Since not every dealer offers costly add-ons, it's beneficial to compare various dealers to evaluate your options. Alternatively, some may find value in specific add-ons, so ensure clarity before proceeding with a dealer.
While price is a focal point, be aware of potential financing markups too. For example, Jaguar previously advertised a 0% APR for 36 months; however, that offered rate applied for terms up to 72 months, allowing dealers to mark up any longer-than-advertised loans.
Various brands differ in their approach regarding interest rate markups. Some brands, like Subaru, allow a markup of up to 1% on advertised interest rates. This variability can obfuscate savings opportunities for shoppers.
It may sound counterintuitive, but cars with markups may also come with manufacturer incentives that could save you money. For instance, while Ford's F-150 Lightning saw hefty market adjustments, the manufacturer offered savings of up to $15,000 on certain versions of this EV.
In financing cases, you might qualify for incentives like Nissan's NMAC Special APR Cash, which could total $1,000—combining it with 0% financing. Further, brands like Acura have been known to extend conquest cash incentives worth thousands for customers transitioning from other brands.
Don’t accept a dealer’s first offer blindly. There have been instances where dealers imposed $5,000 markups alongside costly add-ons. Being prepared with price quotes from neighboring dealers can significantly enhance your leverage in negotiations and help prevent overspending.
If you're inclined to purchase a popular model like the Kia Telluride, brace yourself for the possibility of paying above MSRP. A recent analysis showed dealers charging up to $10,000 in markups on Kia's three-row SUV; interestingly, similar Hyundai Palisade models had markups around half that amount.
If you're determined not to pay over MSRP, consider postponing your purchase. Inventory fluctuates daily, and manufacturer incentives shift monthly. You might even have the chance to place a factory order at MSRP, with some companies offering price protection for their cars.
Ongoing supply chain challenges have maintained inventory levels below pre-pandemic norms. Whether dealer markups will diminish in the near future remains uncertain. Unfortunately, used car pricing continues to be high as consumers search for alternatives in the current climate.
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