What did you pay for your KIA Telluride?

[Patsfan29]

Here in SC, they have a 2020 S with 46k miles on the lot for $43k. What's crazy is on the website, it has the original window sticker showing a 35k initial list price.

 

[TellurideT]

Saved my ass when I was just out of College and bought a car that was wrecked within the first year. Well worth it especially when a car is brand new and you have a big loan and the value off the lot depreciated day 1. Those days might come back quicker than anyone might think.

Exactly. Not everyone pays for the car in full, or is able to make a huge down payment.

 

[Sparkle Girl 47]

Saved my ass when I was just out of College and bought a car that was wrecked within the first year. Well worth it especially when a car is brand new and you have a big loan and the value off the lot depreciated day 1. Those days might come back quicker than anyone might think.

Picked up my ELS AWD N/P today at MSRP at Ferguson Kia. Everything went Great. It is a Beautiful SUV!!!!
Now if I can just learn all the things about the car the salesperson showed me, I'll be having Fun. Love the color combo. ELS with Dune .

 

[JRebel]

Picked up my ELS AWD N/P today at MSRP at Ferguson Kia. Everything went Great. It is a Beautiful SUV!!!!
Now if I can just learn all the things about the car the salesperson showed me, I'll be having Fun. Love the color combo. ELS with Dune .

Congrats! Enjoy the new ride and piece of mind that you got gap insurance. Be sure to post pictures and share with the group anything else that comes to mind.

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[Paladin]

Where do you buy Gap insurance?

 

[MG535]

It’s a total waste of money today’s market where sale/resale values are so high and therefore so are insurance ACV payouts. Over time the balance of the loan keeps falling too. There’s just no realistic scenario where the gap is really large unless you’re rolling in tons of negative equity from a trade or something.

And while you’ll always find that one person who needed it, 99.9% of people won’t.

 

[Sparkle Girl 47]

Where do you buy Gap insurance?

I bought it though my finance co.

 

[Sparkle Girl 47]

It’s a total waste of money today’s market where sale/resale values are so high and therefore so are insurance

It’s a total waste of money today’s market where sale/resale values are so high and therefore so are insurance ACV payouts. Over time the balance of the loan keeps falling too. There’s just no realistic scenario where the gap is really large unless you’re rolling in tons of negative equity from a trade or something.

And while you’ll always find that one person who needed it, 99.9% of people won’t.

ACV payouts. Over time the balance of the loan keeps falling too. There’s just no realistic scenario where the gap is really large unless you’re rolling in tons of negative equity from a trade or something.

And while you’ll always find that one person who needed it, 99.9% of people won’t.

I plan on keeping this car along time. I'll be willing to BET, used cars will not sell this high going forward. I had no trade in, so negative equity.Bought Gap for" PIECE OF MINE"!!!!

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[Sparkle Girl 47]

I plan on keeping this car along time. I'll be willing to BET, used cars will not sell this high going forward. I had no trade in, so negative equity.Bought Gap for" PIECE OF MINE"!!!!

Sorry No negative equity!!!!

 

[SLPV]

FYI, after making a posting, there’s an option to edit it. You can make corrections or add more information. Bottom left corner.

 

[MrWednesday21]

Where do you buy Gap insurance?

The F&I office at your dealership will offer it. But it's just always cheaper to get it added to your regular car insurance policy.

 

[MG535]

I plan on keeping this car along time

You’ve made up your mind and I have no interest in trying to change it. But for anyone on the fence: It’s irrelevant how long you plan to keep it.

Significant gap is only an issue usually in the first year. On a well-bought Telly in 2021 it’s not a significant issue even in the first year. You can look up ACVs and your loan’s amortization schedule to see how small that gap is initially and how quickly it disappears.

If anything, if you believe you’ve bought a car that keeps tanking in value so quickly in its second, third, fourth, etc years that the value drop exceeds the decrease in your loan balance, then you’ve definitely bought the wrong car and have made a borderline disastrous financial decision.

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[arattle]

You’ve made up your mind and I have no interest in trying to change it. But for anyone on the fence: It’s irrelevant how long you plan to keep it.

Significant gap is only an issue usually in the first year. On a well-bought Telly in 2021 it’s not a significant issue even in the first year. You can look up ACVs and your loan’s amortization schedule to see how small that gap is initially and how quickly it disappears.

If anything, if you believe you’ve bought a car that keeps tanking in value so quickly in its second, third, fourth, etc years that the value drop exceeds the decrease in your loan balance, then you’ve definitely bought the wrong car and have made a borderline disastrous financial decision.

And don't forget that any down payment or trade-in will reduce our eliminate that gap even further.

 

[JRebel]

It’s a total waste of money today’s market where sale/resale values are so high and therefore so are insurance ACV payouts. Over time the balance of the loan keeps falling too. There’s just no realistic scenario where the gap is really large unless you’re rolling in tons of negative equity from a trade or something.

And while you’ll always find that one person who needed it, 99.9% of people won’t.

It’s called a hedge… or how about what goes up must comes down… markets can act in ways no one can predict. Did you really think car prices and availability were going to be in there present state two years ago? One year ago? But hey go ahead and keep blasting people because you think “know” more.

 

[Wiseman106]

Ordered our SX Nightfall from Fort Bend Kia near Houston this week for MSRP, no need to buy any add ons.

Thanks for the info. I would appreciate if you could provide the name of the sales person you worked with to buy your Telluride.

 

[Wiseman106]

I ordered mine (SX-P Wolf Gray/Black, N/F and Tow) on 07/22 at MSRP (No advance deposit). 90 days of waiting. However, dealer is pushing to add his own package (Door guards, handle protectors, Pin-Stripes, Windows Tint etc.) which is over $2000. Discussions are still on to take them off.

Can you share with me which dealership and sales person you worked with to get yours ordered?
Thanks.

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[zingakv]

Can you share with me which dealership and sales person you worked with to get yours ordered?
Thanks.

Hendrick Kia of Concord. Bob Strugill

 

[MG535]

It’s called a hedge

What you’re calling a hedge, I’m calling overpriced insurance. Actually that’s being generous because you’d be insuring against a loss that almost doesn’t exist. Tell us what your loan balance is and then tell us what the gap would be if your Telly were totaled.

 

[Wiseman106]

Hendrick Kia of Concord. Bob Strugill

Thank you!

 

[JRebel]

What you’re calling a hedge, I’m calling overpriced insurance. Actually that’s being generous because you’d be insuring against a loss that almost doesn’t exist. Tell us what your loan balance is and then tell us what the gap would be if your Telly were totaled.

What about the rest of my post? So what you call overpriced I call nominal (+5% to the premium). I guess you missed or weren’t born yet when the Great Recession hit? Everything went negative in a flash. You are talking about a car being an asset when it’s a liability. You are relying on an anomaly to become the norm. All views you can have or share but don’t blast someone in the forum for asking for help in a decision then criticizing their choice because it wasn’t your choice… listen and maybe learn