Want to Buy a Kia Telluride? Here are Some Negotiation Tips You Should Know
The Kia Telluride has been one of the most popular SUVs to hit the market in a long time. In fact, it’s sold so well in the past year or so that the executives at Kia started calling in the “Sell-u-ride.” Apropos nicknames aside, the Kia Telluride has been nothing short of a miracle for the automaker as they have been flying off dealer lots, however, if you’re looking to buy one then you might want to know how much you can possibly buy one for. In that case, here are some negotiations tips you should know before pulling the trigger on the Telluride.
The Kia Telluride EX and SX models seem to be the most popular
If you’re shopping for a Kia Telluride, then it’s probably a no-brainer to go ahead and get the top-trim SX since it only costs around $45,000. And while that might sound like a high price, consider that most luxury SUVs currently on the market costs twice as much and offer fewer features. After you get over that sticker shock, we hope you realize that the full MSRP for the car is actually worth paying, however, we wouldn’t advise that you pay any money over that.
Although, if you still can’t wrap your head around paying $45k for a three-row SUV, or you just have a budget of $40k to stick to, then we recommend opting for the EX trim level. Provided that you can live without the SX features that include a 12-way power driver’s seat, LED headlights, second-row captain’s chairs, and the Harmon Kardon 10-speaker premium sound system.
If you do choose the Kia Telluride EX, here are some numbers
Due to the high popularity of the Kia Telluride, along with the limited supply at most dealers, you would honestly be hard-pressed to get a price below MSRP. According to TrueCar.com, which shows you pricing based on real-world sales transactions, the 2021 Kia Telluride EX has a retail price of $40,560, and the current market average is $40,930 with a current average dealer markup of 1.6%.
In that case, if you end up heading out to your local Kia dealer in hopes of getting the deal of the century, just know that the benchmark for a good deal is the MSRP rate, so we suggest aiming for that. Also, there aren’t currently any manufacturer incentives for the Telluride, so that’s another reason that dealers aren’t budging on the price, but for the most part, it all comes down to supply and demand.
2021 Kia Telluride lease example
We took a note from YouTuber Ari Janessian, who gives car buying advice and followed his lease example for a current Kia Telluride EX AWD. His numbers are as follows:
- MSRP: $43,915
- Residual = 64% at 10,000 miles per year, 36-month lease
- Money Factor = 0.00152, which is equivalent to a 3.6% finance rate
- $1,848 due at signing = First month’s payment, sales tax, dealer documentation, and registration fees only
- Monthly payment = $584.91
Just in case those numbers don’t make any sense to you, we’ll break it down. Janessian started off with an MSRP of $43,915, which is his targeted price for the 2021 Kia Telluride EX AWD. He factored in the residual value of 64%, which means that the car will be worth approximately 64% of its value after the three-year lease if you drive 10,000 per year for those three years. And then the money factor, or interest rate, that he calculates is 0.00152, which is equivalent to a 3.6% APR financing rate.
With all of these factors combined, Janessian was able to calculate that Kia Telluride EX AWD at full MSRP would have a monthly lease payment of around $584/month if the buyer puts the minimum down payment of $1,848, which covers the first month’s payment and necessary fees. Just note that he also used a 6.25% sales tax rate, so your tax rate could be higher or lower.
What do all these numbers tell you?
Ultimately, if you’re looking to buy a 2021 Kia Telluride and wondering what price to pay for it, then we would suggest talking to the dealer out of any markups and aim to get the MSRP price. And if you’re planning on leasing it, then expect to pay around $500 to $700 a month if you go with the higher two trim levels and only put down the initial necessary lease inception fees (first month’s payment, sales tax, registration, and dealer fees). However, your monthly payment can vary depending on where you live and whether or not you put an additional down payment.