Kia Sorento Monthly Installment
by Leland Morrison, on 17 January 2024
Jump to
- Overview
- Evolution of the Kia Sorento
- Kia Sorento Price
- Kia Sorento Monthly Installment
- Minimum Monthly Salary
- Alternatives
- Stats
- Tips to Secure the Best Monthly Installment
- Conclusion
Overview
The Kia Sorento stands as a versatile and bold SUV designed to cater to the modern family's needs and adventurists alike. With its 7-seat configuration, the Sorento offers ample space and comfort, making it a suitable companion for long drives and exploratory road trips. The vehicle's distinctive design is complemented by contemporary features such as vertical LED tail lamps, a sporty rear skid plate, and the convenience of a smart power tailgate.
On the inside, the Sorento boasts a premium ambience with its black leather seats, a clean one-tone detail colour, and high-tech offerings, including a 10.25" infotainment system with smartphone integration and a Bose® premium surround sound system. As an added benefit, the Sorento ensures safety with advanced driver assist systems like Blind-Spot Collision-Avoidance Assist and Lane Keeping Assist, among others.
Evolution
The evolution of the Kia Sorento reflects a continuous commitment towards innovation and sophistication. Over the years, the Sorento has transitioned from a rugged off-roader to a more refined and capable SUV. The latest iteration boasts significant improvements in design, safety, technology, and performance. Notably, the incorporation of all-wheel-drive systems, terrain mode selects, and a dual-clutch transmission enhance the Sorento's ability to navigate various landscapes with ease and stability.
Moreover, the Sorento's commitment to passenger comfort is evident in its configurable seating options and focus on interior luxury and convenience, ensuring that it meets the demands of contemporary SUV buyers.
Price
The Kia Sorento is available in a range of variants, each with its own set of features and price tag. The base model starts at R933,995, while the top-of-the-line variant is priced at R1,118,995. The price of a particular variant depends on its engine, transmission, and other features.
| Variant | Price |
|---|---|
| 2.2 CRDI EX+ DCT 7-Seater | R933,995 |
| 2.2 CRDI EX+ AWD DCT 7-Seater | R973,995 |
| 2.2 CRDI SX AWD DCT 7-Seater | R1,038,995 |
| 2.2 CRDI SXL AWD DCT 7-Seater | R1,118,995 |
Additional Costs to Consider:
- Dealer Fees: Can include documentation, processing, and other administrative charges.
- Optional Add-ons: Upgraded features, accessories, or enhancements that come at an extra cost.
- Extended Warranties: Offer prolonged protection for the product at an additional price.
- Other Costs: Miscellaneous expenses that might arise such as transfer of ownership.
Monthly Installment
Monthly payments for the Kia Sorento vary between R16,367 and R22,908
The following table provides a few example calculations using the prime interest rate + 2% (13.75%) over a period of 6 years or 72 months.
| Variant | Price | Installment | 10% deposit | 10% deposit and residual |
|---|---|---|---|---|
| 2.2 CRDI EX+ DCT 7-Seater | R933,995 | R19,121 | R17,209 | R16,367 |
| 2.2 CRDI EX+ AWD DCT 7-Seater | R973,995 | R19,940 | R17,946 | R17,068 |
| 2.2 CRDI SX AWD DCT 7-Seater | R1,038,995 | R21,270 | R19,143 | R18,207 |
| 2.2 CRDI SXL AWD DCT 7-Seater | R1,118,995 | R22,908 | R20,617 | R19,609 |
The installment goes down when a 10% deposit is provided and even further when a 10% residual is added
Factors affecting your monthly installment:
- Prime interest rate
- Loan term
- Deposit
- Residual
- Credit score
Minimum monthly salary
Banks typically recommend not spending more than 15% of your monthly salary on a car repayment. With that in mind, here is the recommended monthly salary for each variant:
| Minimum Salary | |||
|---|---|---|---|
| Variant | No deposit | 10% deposit | 10% deposit and residual |
| 2.2 CRDI EX+ DCT 7-Seater | R127,472 | R114,725 | R109,113 |
| 2.2 CRDI EX+ AWD DCT 7-Seater | R132,932 | R119,638 | R113,785 |
| 2.2 CRDI SX AWD DCT 7-Seater | R141,803 | R127,623 | R121,379 |
| 2.2 CRDI SXL AWD DCT 7-Seater | R152,721 | R137,449 | R130,725 |
Alternatives
The Kia Sorento, with its sizeable dimensions, third-row seating, and robust engine options, fits comfortably within the SUV-D segment. It is designed for drivers seeking a mid-size SUV with ample interior space and significant performance capabilities. The table below gives a comparison to other alternatives in the SUV-D segment.
| Name | Monthly From | Monthly To | Popularity |
|---|---|---|---|
| Toyota Fortuner | R11,026 | R19,559 | No Data |
| Ford Everest | R15,650 | R25,076 | No Data |
| Hyundai Santa Fe | R16,324 | R22,407 | No Data |
| Kia Sorento | R16,367 | R22,908 | Very Low |
| Toyota Land Cruiser Prado | R20,697 | R27,625 | No Data |
| Hyundai Palisade | R21,905 | R24,659 | No Data |
Stats
Tips to Secure the Best Monthly Installment Deal
Securing the best monthly installment deal is crucial for managing your finances effectively. Whether you're financing a car, home, or any other purchase, a favorable installment plan can save you money and reduce financial strain. Here are some tips to help you land the best deal:
- Research & Compare: Investigate various lenders, comparing their rates, terms, and fees using online tools.
- Check Credit Score: A better score can lead to lower rates. Regularly review and work on improving it.
- Negotiate: Don't settle for the first offer. Be informed about market rates and available promotions.
- Choose Shorter Terms: Longer terms might have smaller payments but higher interest. Opt for shorter terms if possible.
- Consider a Deposit: A significant deposit can reduce monthly payments and possibly get a better rate.
- Understand the Terms: Be clear on all conditions, especially penalties for early or missed payments.
- Maintain Your Budget: Determine your monthly limit and stick to it. Avoid tempting deals that exceed it.
- Seek Pre-approval: It provides clarity on what you qualify for and aids in negotiations.
By being diligent, informed, and proactive, you can secure a monthly installment deal that aligns with your financial goals and provides peace of mind.
Conclusion
Understanding the Kia Sorento's price and financial options is vital for prospective buyers. As the vehicle offers a blend of luxury, space, and technological prowess, it's essential to make an informed decision based on the total cost of ownership and potential monthly installments. With features and specifications that cater to various needs, the Kia Sorento can be a considerable investment.
Potential buyers are strongly encouraged to conduct thorough research and consult with financial advisors to ensure that their vehicle purchase aligns with their lifestyle and budget. In doing so, customers can look forward to the confidence and peace of mind that comes with owning a well-suited vehicle like the Kia Sorento.