First time car buyer. Please help out a noob :)

[mydadwowrksatkia]

Hi,

I have never purchased a vehicle and I am greatly interested in brining home a 2021 Telluride SX Trim / Night Fall edition / Prestige edition / Everlasting Silver (or Gravity Gray). The car looks sexy and I can't wait. My dad also works at KIA (R&D in Korea) so I am excited to try a car that maybe he has directly/indirectly helped shape. That said, I know I am gonna have to wait quite a while. And I would like to put myself on a waitlist as fast as possible but I am a first time car buyer and don't wanna get ripped off. I did some homework and here is what I know / what I don't know.

1. MSRP == a price that KIA suggests dealers ask for a car. It sounds like with the high demand, buying a Telluride at MSRP is a good deal. If not, how big of a premium is fair?

2. I have contacted a few dealers and they speak terms like "total selling price" and "out the door price".

Total selling price = MSRP + whatever extra stuff that dealers want to squeeze into the car's price via options/insurances/etc.
Out the door price = Total selling price + taxes + whatever extra fee dealers charge (like documentation fee?)

So then, it seems to me that asking various dealers for out the door prices and their price breakdowns seems like the right way to go. Am I missing something?

3. Once I get an out the door price, additionally it seems to matter HOW I am paying for that price. cash, loan, etc. I am fairly flexible and put in a large downpayment. It seems like dealers want people to finance because they want to additionally collect interests. What is a good car loan look like for 36 or 48 month terms in terms of APR nowdays?

4. I have no car to trade in. This is not applicable and they have nothing to low ball me.

5. It seems like asking for all these numbers for a car that is sitting in dealers' lots is pretty straightforward. But given how I am most likely having to wait and put in an order with a deposit, how will this play out? How do I go about comparing dealers if I have to put in a new order?

Any help is much appreciated. Please help me bring home a sexy Telluride

 

[jw_tx21]

That's a lot of questions. You are on the right track. Here's a good summary of how to buy.

Three Different Ways to Acquire a Telluride

Since joining this forum I've learned so much but it took me a while to browse through all the threads to collect the info I needed to order a Telly. Some stuff I wish I knew before I ordered and so I wanted to make a step-by-step list of how to acquire a Telly for the new folks. I hope this...

tellurideforum.org

As for finance offers there are low APRs through KMF (Kia Motors Finance).

OTD price is fine to ask for, but remember that sales tax will depend on any trade and by state. So, of you're buying out of state it could be complicated. You can still ask for the OTD price - and adjust tax accordingly.

 

[ohmykia]

Your dad can’t get you employee pricing?

 

[mydadwowrksatkia]

@ohmykia He works in Korea so his employee discount does not apply for us sales

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[mydadwowrksatkia]

@jw_tx21 your link helps a lot. I think I am sorta getting the hang. I live up in the SF/Bay area and one dealership is charing 10k markup whereas another sells at MSRP. The one that charges 10k markup seems to deal a lot more volume and the MSRP one less, so the wait times are different. Honestly, a 10k premium seems too much.

 

[mikeycat]

Hi,

I have never purchased a vehicle and I am greatly interested in brining home a 2021 Telluride SX Trim / Night Fall edition / Prestige edition / Everlasting Silver (or Gravity Gray). The car looks sexy and I can't wait. My dad also works at KIA (R&D in Korea) so I am excited to try a car that maybe he has directly/indirectly helped shape. That said, I know I am gonna have to wait quite a while. And I would like to put myself on a waitlist as fast as possible but I am a first time car buyer and don't wanna get ripped off. I did some homework and here is what I know / what I don't know.

1. MSRP == a price that KIA suggests dealers ask for a car. It sounds like with the high demand, buying a Telluride at MSRP is a good deal. If not, how big of a premium is fair?

2. I have contacted a few dealers and they speak terms like "total selling price" and "out the door price".

Total selling price = MSRP + whatever extra stuff that dealers want to squeeze into the car's price via options/insurances/etc.
Out the door price = Total selling price + taxes + whatever extra fee dealers charge (like documentation fee?)

So then, it seems to me that asking various dealers for out the door prices and their price breakdowns seems like the right way to go. Am I missing something?

3. Once I get an out the door price, additionally it seems to matter HOW I am paying for that price. cash, loan, etc. I am fairly flexible and put in a large downpayment. It seems like dealers want people to finance because they want to additionally collect interests. What is a good car loan look like for 36 or 48 month terms in terms of APR nowdays?

4. I have no car to trade in. This is not applicable and they have nothing to low ball me.

5. It seems like asking for all these numbers for a car that is sitting in dealers' lots is pretty straightforward. But given how I am most likely having to wait and put in an order with a deposit, how will this play out? How do I go about comparing dealers if I have to put in a new order?

Any help is much appreciated. Please help me bring home a sexy Telluride

Nice to see that you are doing your homework, what part of the country are you in? There are some dealers that sell at MSRP, with very low fees, and Kia of Muncie (Indiana) offers a Costco discount, which is around 1000 off MSRP. Since you don't have a trade in, it should be straight forward, if the state you purchase it in has a reciprocal arrangement where you live, they will collect the taxes, if not, they will issue you a temporary tag, and you will pay the taxes when you apply for your permanent tag. If I can help with anything else, feel free to ask, and there is a wealth of knowledge on this forum, fire away!!

 

[mikeycat]

I just read that you are in the San Fran area, I've heard good things about I25 Kia, which is south of Denver, you could call them and place an order and then fly in and drive it home, just a thought

 

[jw_tx21]

@jw_tx21 your link helps a lot. I think I am sorta getting the hang. I live up in the SF/Bay area and one dealership is charing 10k markup whereas another sells at MSRP. The one that charges 10k markup seems to deal a lot more volume and the MSRP one less, so the wait times are different. Honestly, a 10k premium seems too much.

SF/Bay area is impossible. If you want the best price in California, call Hilltop Kia in Richmond. But, if you order, wait time is about a year now for a fully loaded Telluride. Same with Kia of Muncie. I'd follow the resources in the link I posted, search for your desired trim out of state, pay a small markup and shipping - you'll probably end up $5k over total. All depends on how much you want to spend. If you have tech stocks, then just sell a few - what's another 10k?

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[donthaveone]

@jw_tx21 your link helps a lot. I think I am sorta getting the hang. I live up in the SF/Bay area and one dealership is charing 10k markup whereas another sells at MSRP. The one that charges 10k markup seems to deal a lot more volume and the MSRP one less, so the wait times are different. Honestly, a 10k premium seems too much.

I would also recommend Hilltop Kia. They may be the only dealership in the bay area selling at MSRP.