The automotive industry is going through a bit of a crisis right now. While most potential buyers held off buying a new car in 2020, there has been a mad rush to the dealerships in 2021 for cars and SUVs like the Hyundai Palisade. Coupled with the fact that there is a shortage of new vehicles available, we have ourselves a bit of a crisis. Is the Hyundai Palisade worth paying extra for? Not really.
Is the 2021 Hyundai Palisade worth the money?
Consumer Reports thought the 2021 Hyundai Palisade was a solid choice. The critics gave it a score of 84 out of 100 overall and gave it the recommended stamp of approval. The Palisade came in only after the 2021 Kia Telluride on the list of midsized SUVs with three rows.
Hyundai lists the starting MSRP as $32,675 with a destination charge of $1,185 for the SE trim. That’s pretty fair for an SUV of that size. Depending on the trim level, you can expect to pay above that. The next step up is the SEL for $35,353, and the Limited is $45,275. The Calligraphy trim is the top-level, starting at $26,200.
It seems that the prices for both used and new cars have peaked at the start of the summer. With that said, is the 2021 Hyundai Palisade worth paying over MSRP for? Probably not. With 4th of July sales coming up and the 2022 models being released, wait it out.
Is Hyundai Palisade a luxury SUV?
Hyundai has been working hard on making luxury cars and SUVs more affordable for everyone. The Hyundai Palisade is a good example of that. Consumer Reports asked owners if the Palisade was worth purchasing again. 80% of owners said it was.
“The three-row Palisade is an extremely functional family vehicle, distinguished by a no-nonsense powertrain and thoughtfully designed interior. It joins the mechanically related Kia Telluride in disrupting the rankings within this popular vehicle class.”Consumer Reports
With room for seven or eight passengers and roomy seats, the Palisade certainly feels like a luxury SUV. It also comes equipped with a bunch of safety features. Forward Collision-Avoidance Assist, pedestrian detection, automatic emergency braking, and blind-spot warning are also included.
The Kia Telluride is suffering the same fate
The Kia Telluride is going through a similar situation. Since the SUV has gained popularity, the price has gone up. Dealerships that have been able to get hands on the new SUV have been able to make the vehicles up to take advantage of the situation.
One Kia was listed on a dealership website for $78,995, while the retail price was listed at $53,505. That’s a markup of over $25,490! But that isn’t the case for all Tellurides on the market—some of the vehicles sold for a normal price, depending on demand in the location.
While the Hyundai Palisade and Kia Telluride are reliable SUVs, neither is worth paying too much extra for. Prices should start to come down as 2022 vehicles start to roll in. It might not solve the problem completely, but it will help alleviate the pressure on dealerships.