2020 Kia Optima Prices: MSRP vs Dealer Invoice vs True Dealer Cost w/ Holdback
MSRP | Invoice Price | Destination Fee | Holdback | Dealer Cost
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Its a fairly well-known fact that the Optima is one of the most popular vehicles by Kia. The sedan packs a lot of features into a reasonably sized package that is less expensive than many of its competitors. The 2020 Kia Optima takes that principle and builds on it, adding more standard and available features
What's New for 2020
In 2020, all models add a pedestrian detection feature to their forward collision mitigation system. Wireless charging has been added to the upper trims to help keep the Optima competitive with more expensive options. Since major changes were made in 2019, these were the only ones noteworthy for 2020.
Not counting the two hybrid options, there are a total of four different variations for buyers to consider with the Optima. The entry-level model is known as the LX. This trim is quite impressive for its price, coming standard with an 8-inch touchscreen, Android Auto, and Apple CarPlay. It also gives drivers heated mirrors, automatic headlights, a USB port, and a long list of driver aids.
The second trim is called the S. Unsurprisingly, this is the sporty version of the 2020 Kia Optima. The wheels go all the way up to 18-inches from 16 here. This trim also gains dual-exhaust tips, keyless entry and ignition, power-adjustment for the driver's seat, and foglights. A sunroof package is available for the S.
Going up to the EX means adding quite a bit of luxury to the Optima. It gains heated seats, dual-zone automatic climate control, an auto-dimming rearview mirror, leather, more USB ports, and much more. While many trims have fewer package options this year, the EX still has its Premium one. This adds ambient interior lighting, more power adjustment for the front seats, a 10-speaker audio system, navigation, and the sunroof.
Finally, buyers will want to consider the SX. This combines the athletic look of the S with the sophisticated features of the EX with the Premium package. Additionally, the SX gets red brake calipers, rear spoiler, sports-tuned suspension, and a flat-bottomed steering wheel with paddle shifters.
Both the LX and S trim levels of the 2020 Kia Optima have the same 2.4L four-cylinder engine powering them. It produces 185-horsepower and 178 lb-ft of torque. Paired with this engine is a six-speed automatic transmission.
The EX gets its own engine. These models are powered by a turbocharged 1.6L four-cylinder. Horsepower dips slightly to 178, but this engine more than makes up for it with its 195 lb-ft of torque. Working with this engine is a seven-speed dual-clutch automatic transmission.
As for the top-of-the-line SX, it gets a turbocharged 2.0L four-cylinder engine that will generate 245-horsepower as well as 260 lb-ft of torque. It goes back to the six-speed automatic transmission. This engine, in combination with the upgraded suspension, makes the SX version of the 2020 Kia Optima a joy to drive.
The LX and S get an estimated 24mpg in the city and 32mpg on the highway with the base engine. Buyers who go with the EX trim should expect 27mpg in the city and 37mpg on the highway. The least fuel-efficient option is the turbo 2.0L in the SX, which gets 21mpg in the city and 30mpg on the highway. While these are not class-leading numbers, they are certainly decent and should satisfy most consumers.
All models of the 2020 Kia Optima have a long list of standard driver aids to help keep their occupants safe. All models get a driver attention monitor, rear parking sensors, lane keeping assist, lane departure warning, a blind spot monitor featuring rear cross traffic alert, and forward collision warning with pedestrian detection. Thanks to all these features, the Optima has received five out of five stars from the National Highway Traffic Safety Administration.
The EX trim level upgrades the forward collision system by adding more sensors. Depending on the trim level, there are also several available aids for the Optima. These include adaptive cruise control, automatic high beams, adaptive headlights, and a 360-degree parking camera.
One thing that everyone is sure to agree on about the 2020 Kia Optima is that its interior is top-notch. There are a variety of soft-touch surfaces and high-end materials to be found throughout the cabin. The cloth seats are some of the best out there, and there are many upgrades available as well. Five people can ride comfortably inside the Optima. On top of being comfortable, the Optima is practical with its trunk offering 15.9 cubic feet of space.
The 2020 Kia Optima offers drivers four strong choices. Between them, there is sure to be a great fit for most consumers in the market for a midsize sedan.
How to Calculate The Dealer Cost of a Kia Optima
Formula for Calculating Dealer Cost:
- Example: Base Kia Optima invoice price + the dealer Invoice price of all the options + destination - Holdback = Total Dealer Cost.
- What is Holdback? A hidden amount that manufacturers give back to a dealer. It is a percentage of the MSRP or the Invoice price.
Total Dealer Cost - Rebate and Incentive + Taxes / Licensing Fees = True Dealer Cost. (You can get rebates and incentives here)
Note: All Kia Optima MSRP, invoice and dealer cost dollar figures above are approximate amounts. Prices are subject to change without notice.
A note about rebates: Most rebates are subtracted from the "on the road" figure. In most cases, you can have the rebate if you are arranging your own financing or you are paying cash. If you decide to use the manufacturer’s low interest financing, you do not usually get the rebate. Ask your dealer for details.