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Why is Kia depreciation so high?
I’m looking into buying a new car and Kia seems to have some great deals. One red flag is that they seem to depreciate a lot after purchase. Why is Kia’s depreciation rate so high?
Sarah Williams · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
First of all, congrats on looking for a new car! It’s good to see you’re doing your research, and you’re not wrong that Kia’s have above-average depreciation. Kia depreciation tends to be so high because they use cheap materials (like plastic instead of metal), have low labor costs, and have a short production line. Kia builds their cars to last 5 to 7 years, which doesn’t bode well for resale.
If you want to buy a Kia with a good depreciation rate, consider purchasing a 2020
Kia Soul
. Compared to Kia’s usual below 50% depreciation, 2020 models hold an average of 71% of their value—and Soul is the best model for resale. Kia compensates for their low depreciation rates with a much longer than average warranty coverage. In other words, even if you face mechanical issues with your Kia, you’ll have up to 7 years to bring it in for repairs.
No matter which car you end up buying, you’ll want more protection than a good warranty. With
Jerry
, the trustworthy super app
, you can find the lowest Kia insurance costs
in record time. It’s free to sign up and the average user saves more than $800 per year!View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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