There is no denying that the 2021 Kia Sorento is a major improvement over its predecessor. With sharper styling, new interior tech, and powerful engine options, the Sorento is set to be the ideal daily driver. However, before you make up your mind and pull the trigger, there is one thing you should take into consideration.
While the 2021 model has a relatively affordable base price that starts under $30,000, that isn’t the whole story. According to iSeeCars, a recent study found that the Kia Sorento is one of the quickest-depreciating SUVs around, which could cost you dearly.
What does the 2021 Kia Sorento do well?
Before we dive into exactly how much money the 2021 Kia Sorento might cost you, let’s look at what it does well. One of the best aspects of the 2021 model is that it is finally an SUV worth looking at. While previous generations were quite dull, this new one looks sharp and appealing, regardless of trim level.
Additionally, you can even option a powerful turbocharged 2.5-liter engine with 281 hp and 311 lb-ft. As a result, the Sorento should be a fun daily driver.
In terms of tech, the 2021 Kia Sorento has plenty to offer. Even in the base trim, you still get an eight-inch touchscreen with Apple CarPlay and Android Auto connectivity. However, if you have money to burn, you can option a 12.3-inch digital instrument cluster, embossed leather seats, and a 12-speaker Bose sound system.
The benefit here is that the Kia can go from affordable to slightly luxurious just with the available options. However, optioning this Sorento to the moon may not be the move.
Here is why you should approach it with caution
As mentioned earlier, the 2021 Kia Sorento has a base price of $29,390. However, if you opt for those luxury features that price grows considerably with higher trim levels. For example, the SX kicks things up to $37,990 while the SX-Prestige starts at $40,590. Once you add in a couple of options and destination fees, you blow well past the $45,000 mark.
Unfortunately, iSeeCars found that the 2021 Kia Sorento will likely depreciate quite quickly. A recent study found that Sorento models often depreciate around 58.7 percent in the first five years. Since this data covers several model years, this brand-new one will likely suffer the same fate. For context, this depreciation figure makes the Sorento one of the quickest deprecating vehicles under $35,000. iSeeCars reports that the average amount lost during these five years is $21,547.
This Kia Sorento problem only gets worse if you opt for the more expensive options. With a higher base price and a 58.7 percent average depreciation rate, you are set to lose thousands when you don’t have to.
Look at these SUVs instead if you want to save money
If you’re a fan of the 2021 Kia Sorento but don’t want to lose thousands of dollars, there are other options. In the same iSeeCars study, there is also a list of the least depreciating SUVs.
As a result, you should look at the 2021 Toyota Highlander. While the Highlander has a higher $34,810 base price, it holds its value much better than the Kia. According to iSeeCars, the Highlander loses 47.8 percent of its original value. The average amount lost is $19,841 over a period of five years.
If you are a fan of the 2021 Kia Sorento because of the brand, you can also go for the Sportage. iSeeCars found that it loses around 52 percent of its value in five years totaling around $14,580.