Here's How Much A 2021 Kia Soul Has Depreciated In 5 Years

Boxy and aerodynamically awkward it may be, but Kia's now-discontinued Soul subcompact SUV is a characterful vehicle that should meet the daily needs of many. It's fuel-efficient, yet it's nimble and practical, thanks to its boxy shape. Importantly, the Kia Soul also brings many big car features at an affordable price. For the 2021 model year, the subcompact SUV was priced between $20,265 and $28,825 (MSRP) when new, and was available with heated front seats, heated outside mirrors, and a sunroof.

At that price, the Soul wasn't exactly out of reach for that many people back when it came out. However, steady depreciation has meant that it is even more accessible today, seeing as its resale value has since plunged to an average of between $12,450 to $15,050 depending on specification, per the Kelley Blue Book (KBB) fair purchase price. This equates to a five year depreciation rate of between 38.54% and 47.78%, when you consider the lowest and highest MSRP values. 

However, looking at the individual trim levels, the GT-Line version appears to be outperforming its siblings, losing only 37.08% of its original purchase price over five years. Meanwhile, CarEdge, which bases its estimates on an assumed selling price of $24,368 for a new Soul and considers all trims, puts the small SUV's five-year depreciation rate at 40.4%. 

As the 2021 Kia Soul still faces competition in the used market, we've looked at how its depreciation stacks up against its rivals and checked the real-world market to see whether its prices line up with the projections.

Per CarEdge's analysis, a five-year depreciation rate of 40.4% means the 2021 Kia Soul depreciates more than many of its rivals, even if it is not the worst offender. That title belongs to the Mitsubishi Outlander Sport, which dropped 46.5% of the assumed $26,440 drivers originally paid for it. This means that if you went for this model when it was new, your car will have retained 53.5% or $14,147 of its value after five years. 

CarEdge figures also show the Mini Cooper Countryman depreciates heavily losing 42.9% of its original price ($36,463) and holding just $20,828 after five years of ownership. Aside from these two, every other major 2021 subcompact SUV analyzed by CarEdge held its value better than the Soul. But the Subaru Crosstrek held its value best, dropping by just 28.5% over five years. Although it had an assumed selling price of $29,559 back in 2021, the Crosstrek's resale value currently sits at an impressive $21,119. 

Following the Crosstrek closely is the Honda HR-V, which is estimated to have lost 29.7% of its purchase price after a five years on the road. The next-best performers are close together for depreciation, with the Hyundai Venue losing 34.2% of its value in the same timeframe. This translates into a current resale value of $14,367, down from $21,848 when it was new. The 2021 Mazda CX-30 and Nissan Kicks follow up next, both with a five-year depreciation rate of 34.4%. The often-underrated Buick Encore GX and Chevrolet Trax, for their part, lost 38.5% and 38.7% of their original prices, respectively.

Depending on the online marketplace you check, the 2021 Kia Soul prices may vary. On Edmunds, for example, prices start from around $9,000 for units in rough condition or with high mileage, but cleaner examples with fewer miles under their belts cost up to around $20,000. 

That's roughly the same price as the low-milers on CarMax, but well used, high-mileage examples on CarMax are priced from around $13,000, meaning they command a $4,000 premium over the cheapest examples on Edmunds. Prices start even lower on CarGurus, at just over $8,000, but they go as high as around $22,000 for the best ones.

The lower prices of these SUVs are all the more interesting because it doesn't look like that many people are looking to sell their Souls, so to speak. Although Kia sold over 75,000 Soul subcompacts in the U.S. during the 2021 model year, CarGurus had just 42 2021 Kia Soul listings across the country. CarMax similarly showed just 44 Kia Souls listed nationally. Only Edmunds came close to triple figures, with 90 Souls listed at the time of writing.