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2022 Hampton Gray Santa Cruz
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Discussion Starter · #1 ·
Not asking you to shed a tear, but my 2023 Kia K5 GT has arrived, and the Santa Cruz now belongs to my dealer.

I thought some might be interested in the changing trade-in/sell market (which is rapidly changing). Carvana offered me a disappointing $38,000 for the truck, down from $44,000 just 60 days ago. Worse yet, givemethevin.com, a heretofore excellent buyer, offered only $35, 000 (down from $43,500 60 days ago). I decided not to even try Carmax and a few others.

Taking any of these offers would have left me paying full sales tax, vs using the trade-in value as an offset, so they would basically have had to offer about $2,500 more than the dealer offer for me to even break even.

So, I was thrilled when the dealer offered me a solid $41,000 for the truck, almost the same as the original purchase price. I took it.

That $41k erased any sales tax, since it was more than the price of the K5. In addition, it left me with $3,500 equity, which I then applied to the K5 purchase. Last but not least, it reduced my car payment by $130/month vs the SC. Win/win.

Probably not any of you thinking about selling or trading, but that's one guy's report if you are.

To all you Santa Cruzers I say, Adios and Happy Trucking! (y)

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Santa Cruz Limited in Blue Stone
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Sorry to see you go Mike but I'm glad you got a great trade-in on your SC. Enjoy your new GT! (y)
 

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Congrats on the new GT! Thanks for sharing the trade-in info. I will be trading in my SC later today. I just can't get over the poor gas milage and DCT concerns. I have a limited, black, 4600 miles, with tow hitch and Carvana offered me 37,000. Dealer offered me 38,500. This is in the Phoenix area. Didn't bother going to carmax either because they would need to offer over 42,000 for it to cover the tax savings from trading it in with the dealer. Fought hard for 41,000 as 41,600 is the middle trade-in for "very good" from KBB but dealer wouldn't budge. At 38,500 I still have some equity so I'm going with it. Also pretty sure used car values are only going to keep going down from here.
 

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Appears worked in your favor in a falling used car market. Doesn’t Texas give credit for private sale (within a given time frame; such as 120-180 days) toward tax liability? Many other states do so.
 

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2022 Hampton Gray Santa Cruz
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Discussion Starter · #6 ·
Congrats on the new GT! Thanks for sharing the trade-in info. I will be trading in my SC later today. I just can't get over the poor gas milage and DCT concerns. I have a limited, black, 4600 miles, with tow hitch and Carvana offered me 37,000. Dealer offered me 38,500. This is in the Phoenix area. Didn't bother going to carmax either because they would need to offer over 42,000 for it to cover the tax savings from trading it in with the dealer. Fought hard for 41,000 as 41,600 is the middle trade-in for "very good" from KBB but dealer wouldn't budge. At 38,500 I still have some equity so I'm going with it. Also pretty sure used car values are only going to keep going down from here.
Honestly, I think I got the used car guy who appraises trades on a good day. Also, my wife and I have bought probably 6 or 7 cars from them, and that carried some weight, I think. But I still had to hide my glee when he came back with $41k. Maybe he was working off old auction numbers or something, but I wasn't about to question him. All in all, I hit a home run. :)
 

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2022 Hampton Gray Santa Cruz
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550 Posts
Discussion Starter · #8 · (Edited)
Appears worked in your favor in a falling used car market. Doesn’t Texas give credit for private sale (within a given time frame; such as 120-180 days) toward tax liability? Many other states do so.
I don't know if they do or not. I've never tried it!
 

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Not asking you to shed a tear, but my 2023 Kia K5 GT has arrived, and the Santa Cruz now belongs to my dealer.

I thought some might be interested in the changing trade-in/sell market (which is rapidly changing). Carvana offered me a disappointing $38,000 for the truck, down from $44,000 just 60 days ago. Worse yet, givemethevin.com, a heretofore excellent buyer, offered only $35, 000 (down from $43,500 60 days ago). I decided not to even try Carmax and a few others.

Taking any of these offers would have left me paying full sales tax, vs using the trade-in value as an offset, so they would basically have had to offer about $2,500 more than the dealer offer for me to even break even.

So, I was thrilled when the dealer offered me a solid $41,000 for the truck, almost the same as the original purchase price. I took it.

That $41k erased any sales tax, since it was more than the price of the K5. In addition, it left me with $3,500 equity, which I then applied to the K5 purchase. Last but not least, it reduced my car payment by $130/month vs the SC. Win/win.

Probably not any of you thinking about selling or trading, but that's one guy's report if you are.

To all you Santa Cruzers I say, Adios and Happy Trucking! (y)

View attachment 12391
Mike, sorry to see you go but I know your going to love your K5. I have a 22 and we love it, 41.4 mpg, great ride, power seats on passenger side (haha), memory seats and mirrors just a great auto. And when you fold down the rear seats the trunk is huge. have fun post pictures. Mine is Cristal Badge it looks gold in the sun people stop and ask what car is that and I say a K5 and they still don't know. smile. Alan
 

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2022 Hampton Gray Santa Cruz
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Discussion Starter · #10 ·
Mike, sorry to see you go but I know your going to love your K5. I have a 22 and we love it, 41.4 mpg, great ride, power seats on passenger side (haha), memory seats and mirrors just a great auto. And when you fold down the rear seats the trunk is huge. have fun post pictures. Mine is Cristal Badge it looks gold in the sun people stop and ask what car is that and I say a K5 and they still don't know. smile. Alan
Lol. Yeah, to be honest, I wish they'd kept the Optima name. I owned 3 of them and feel like it is a good name. But they own the company so I guess they can call the shots. People don't realize how loaded and how refined a car these are.
 

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Nice. So this model has 2.5T engine and 8 spd Wet DCT also, like the SC, right…except the engine maybe tuned and DCT shift points programmed a bit differently? And if I remember right, you got this somewhat because you wanted better gas mileage, or you just didn’t need an SAV? Are you a member of a K5 forum? Do they have similar views to people here on the SC forum on powertrain concerns and dealer service issues? It’ll be interesting to hear how you are doing with that. Please keep us posted. Maybe I’ll see you around DFW sometime. I have a HG color SC limited, just like what you traded. Best wishes!
 

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2022 Hampton Gray Santa Cruz
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Discussion Starter · #13 ·
Nice. So this model has 2.5T engine and 8 spd Wet DCT also, like the SC, right…except the engine maybe tuned and DCT shift points programmed a bit differently? And if I remember right, you got this somewhat because you wanted better gas mileage, or you just didn’t need an SAV? Are you a member of a K5 forum? Do they have similar views to people here on the SC forum on powertrain concerns and dealer service issues? It’ll be interesting to hear how you are doing with that. Please keep us posted. Maybe I’ll see you around DFW sometime. I have a HG color SC limited, just like what you traded. Best wishes!
Yes, the K5 GT has the same drivetrain as the SC, but it seems to me to be tuned differently. It doesn't want to hold the revs as high, and it doesn't hurry as much to get out of first gear when you take off. All in all, the trans seems - at least for now - to be more relaxed. I guess that's to make it more car-like and less truck-like. Makes sense. But don't get me wrong - it seems much more frisky and quick.

But the K5 is a couple hundred pounds lighter than the SC and doesn't have AWD, so it really scoots. Like I said somewhere, I had a 4-cyl Kia Stinger with a 2.0-liter turbo, which was only a little over a second slower to 60 than the 3.3-liter twin turbo Stinger, and this engine makes 35hp more than the 2.0T. And it's a little bit lighter, too. So I consider it a baby Stinger.

And yes, gas mileage was a big factor for me. I was willing to compromise at the advertised 27mpg highway number, thinking I might even be able to beat that. But nope ... never even got close.

Yes, I'm a member at K5Owners.com. No, I've not really seen much about engine/trans issues, but I haven't spent a lot of time in the mechanical sub-forums. And I personally didn't have any troubles at all.

I'll wave if I see you around here. It's not just for Jeep guys. :LOL:
 

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2022 SEL Sage Gray (non turbo)
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@Mike_TX - looks nice! I’m getting a lifetime of 28.6 mpg in my SC. If I didn’t live on 20 acres in East Overshoe Maine I’d be in the market for something smaller w/better mpg But do need to haul occasional “stuff “

i enjoyed reading your posts. Enjoy your new ride!

Gusto!
 

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Congrats on the new GT! Thanks for sharing the trade-in info. I will be trading in my SC later today. I just can't get over the poor gas milage and DCT concerns. I have a limited, black, 4600 miles, with tow hitch and Carvana offered me 37,000. Dealer offered me 38,500. This is in the Phoenix area. Didn't bother going to carmax either because they would need to offer over 42,000 for it to cover the tax savings from trading it in with the dealer. Fought hard for 41,000 as 41,600 is the middle trade-in for "very good" from KBB but dealer wouldn't budge. At 38,500 I still have some equity so I'm going with it. Also pretty sure used car values are only going to keep going down from here.
That's interesting My limited has 6k and Carvana offered 43K for mine Vroom 39K. I haven't tried CarMax yet but im betting between 39, 42 range, i guess where you live has a lot to do with values
 

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2022 Hampton Gray Santa Cruz
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Discussion Starter · #16 ·
@Mike_TX - looks nice! I’m getting a lifetime of 28.6 mpg in my SC. If I didn’t live on 20 acres in East Overshoe Maine I’d be in the market for something smaller w/better mpg But do need to haul occasional “stuff “

i enjoyed reading your posts. Enjoy your new ride!

Gusto!
Thank you! If I had gotten that kind of mileage with mine I might still have it!
 

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2022 Hampton Gray Santa Cruz
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Discussion Starter · #17 ·
That's interesting My limited has 6k and Carvana offered 43K for mine Vroom 39K. I haven't tried CarMax yet but im betting between 39, 42 range, i guess where you live has a lot to do with values
If you're thinking of selling or trading, you might want to do it soon, since those numbers are falling. I feel like I just barely got in on the high point, with some of the big buyers already going down fast.
 

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2022 Sage Limited
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You’re gonna love it!
The GT is a very fun car. Quicker than most anything else in that price range.

Wolf grey is the color I tried to talk my wife into getting. She wanted a batmobile, so I’m stuck keeping this gem clean since she doesn’t know anything except how to drive through a car wash.

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If you're thinking of selling or trading, you might want to do it soon, since those numbers are falling. I feel like I just barely got in on the high point, with some of the big buyers already going down fast.
Yeah i am looking at a few Vehicles now, I get decent Mileage about 25 in town but then again i really don't care about mileage that much my last vehicle was an SRT grand Cherokee so getting 25 in town is a HUGE improvement
 

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2022 Hyundai Santa Cruz SEL AWD
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@Mike_TX that's a gorgeous car, congrats. I personally love the looks of the Sonata/K5 and thought my Sonata SEL Plus was beautiful in Portofino Gray. If it wouldn't be for me getting tired of crawling down into and up out of those cars, along with needing to haul miscellaneous things every now and then, I would have been all over a Sonata N-Line.

Enjoy it!
 
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