Anybody check the resale on kbb or anything of the sort? I did a check on kbb.com and it's SCARY how much this car has dropped. If I paid sticker, I'd end my life or hope there is some sort of error with the resale numbers. The trade on my SXL is $25k!!!(according to kbb) I guess since it is as nice as a luxury ride it may as well depreciate like one also...I got $23k on my optima sx trade with 17k miles on the ODO.
Resale Value
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Ya, I noticed the same thing. Although if you add on the extra warranty that could be 3-5k extra. Especially for me since they had to repair the headliner 3 times which was supposedly a $3k job each time. So I definitely have gotten the usage out of the warranty. Although I plan on keeping this car for at least 5-8 years so depreciation doesn't really matter for me. That also had me thinking about while looking at the Hyundai Equus retail for 60k+ now you can buy one for 30k with 20k miles, so I feel the K900 will drop along with the Cadenza the same way.
The resale value is sort of what I expected. Disappointing, but not much of a problem for expected long-term (7-8 year) owners like me.
Resale value is tied to the public's reaction to and appreciation for this outstanding car (and the K-900). It all starts with Kia marketing. Not clear just what their intention is. I thought it was to upscale the Kia image. Needs targeted advertising and more Kia's on the road. (in the last 6 months I've only see one Cadenza and no K-900 in my travels around Western NC). Perhaps these are simply Kia high-end "trophy cars".
Seems that Cadenza is destined to be a "limited addition". No problem for me -- best car I've ever owned.
Resale value is tied to the public's reaction to and appreciation for this outstanding car (and the K-900). It all starts with Kia marketing. Not clear just what their intention is. I thought it was to upscale the Kia image. Needs targeted advertising and more Kia's on the road. (in the last 6 months I've only see one Cadenza and no K-900 in my travels around Western NC). Perhaps these are simply Kia high-end "trophy cars".
Seems that Cadenza is destined to be a "limited addition". No problem for me -- best car I've ever owned.
I bought the Cadenza knowing that it would not have a good resale value, but I also keep cars a long time. I owned my previous car for 14 years, and it was still running fine. I was able to sell it for $2000, which I thought was a pretty good price for a 1999 Mitsubishi Diamante with 135,000+ on it.
The only concern I have about the Cadenza is the same as gerryp mentioned -- that Kia is not advertising it, ensuring a short manufacturing span. I kept the Diamante for 8 years after they stopped production, and parts were getting hard to find. Would like to be able to keep the car for a long time, since it is also the best car I have ever owned. I have put 11,000 miles on it without any issues.
The only concern I have about the Cadenza is the same as gerryp mentioned -- that Kia is not advertising it, ensuring a short manufacturing span. I kept the Diamante for 8 years after they stopped production, and parts were getting hard to find. Would like to be able to keep the car for a long time, since it is also the best car I have ever owned. I have put 11,000 miles on it without any issues.
I'm surprised Kia comes in lower then the Hyundai. I was looking at resale value of the Azera when I was shopping, and those things hold up very well even with as much as 15k on the clock it was just a few thousand down. The Cadenza with as little as 10k can be as much as $10k below sticker, saw some of the base premiums without any packages selling retail for $21k-23k. I got my premium with lux and certified with shy of 10k miles for right at $26k, at the time Edmonds listed it at almost $32k certified.
Remember too there is a huge jump between trade in and retail. I always look at retail, because the only way this car is going to be gotten rid of is if it's totaled, which case the insurance will pay out the retail value...
Remember too there is a huge jump between trade in and retail. I always look at retail, because the only way this car is going to be gotten rid of is if it's totaled, which case the insurance will pay out the retail value...
I just looked it up, Certified used retail with 12000 on the clock, my car is now only worth $29k flat. Went down over $2000 in just this short period...a little disappointing, but a car is not an investment, I'm just glad it's still worth a touch more then what I paid for it...
We are victims of the "Kia" name. I still get a lot of "Oh, that is a Kia??" Unfortunately there is still a negative connotation with the brand. Everybody remembers the cheapies from back in the day. As I have said here before but for the newbies who maybe didn't see my post: I bought the Kia Cadenza because I got priced out of the Acura RL. I still own my 1999 Acura RL and it is still a wonderful car with over 300k miles on it. It is my winter beast now and the Kia which in my opinion sucks in the snow is parked under the carport. I realize that I am stuck with my Kia for 10-15 years as I will never get the value I think it is worth. Not a big deal so I am driving it that way to make it last. I love my Cadenza so far but I must admit if I had the bucks to buy a K-900, I would not buy a K-900.
Wishing us all luck with our cars. Hope they hold up for us long termers......
Wishing us all luck with our cars. Hope they hold up for us long termers......
If I hadn't owned a kia optima before this car I would have that same assumption, however my optima (2013 SX with touring and tech) booked a trade value of $23k with 18k on the ODO. So it's a supply and demand thing, not a 'KIA' thing in my opinion. My guess is there just isn't demand for the Cadenza not too mention the real world prices that most of us have received.. I will say I LOVE the exclusivity this car gives me...I never see them.
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Same here.... Especially with a brand new to market vehicle.
Agreed with this as well.
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I agree with this 100%! Very well spoken.
I love my K900 which I'm also leasing. I know a few people with an Optima that are paying only about $100 less than I am for the K900. It may not be selling well in the US, but the car is extraordinary.
Considering that they can be bought new for $24-28K, who can be surprised?
Minneapolis, MN 2014 Kia Cadenza Premium New Sedan St. Paul, MN Lakeville, MN Jeff Belzer's Chevrolet Dodge Kia | K480032 | KNALN4D73E5141357
Minneapolis, MN 2014 Kia Cadenza Premium New Sedan St. Paul, MN Lakeville, MN Jeff Belzer's Chevrolet Dodge Kia | K480032 | KNALN4D73E5141357
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Wow that's crazy, I had no idea!
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I can tell you this to be a fact.... that price is RARE... this car is more than likely part of KIA's "test drive" program and has some miles on it...
was used as a service loaner for that dealer.... KIA pays the dealer about 5,000 on the back end...
so here is your breakdown
39,000 sticker
1600 mark up
1500 holdback
2500 rebates
5000 test drive money
10,600 in savings.... just like when I sell a program truck and have 13000 off msrp... same thing
This is a great program to have for a dealer and some lucky ******* will buy this car for a great price.
was used as a service loaner for that dealer.... KIA pays the dealer about 5,000 on the back end...
so here is your breakdown
39,000 sticker
1600 mark up
1500 holdback
2500 rebates
5000 test drive money
10,600 in savings.... just like when I sell a program truck and have 13000 off msrp... same thing
This is a great program to have for a dealer and some lucky ******* will buy this car for a great price.
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This is why I traded mine in for 29k several months ago before it's value dropped. Doesn't help that early model Cadenza's are missing a lot of option late model 14's have.
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I'll be honest.... i keep my cars on an average for about 1.5-2 years.... im itching to trade my lease but tanked in it. ****... i was gonna trade for a Soul Exclaim Whole Shabang and thought about the K900 too not even 8 months into this one.
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