Unfortunately, then there's the price. The base model is in the $13,000 range. But you really get so little for this price, I don't get the point. Prices go all the way up past $20,000. I'm sorry, but my parents just bought a 2012 Ford Mustang Premium for $20,000. Unlike the Kia, a Mustang won't go out of style. Unlike the Kia, it will get you where you're going in a hurry if you need it. Unlike the Kia, the Mustang won't make most people vomit at it's shape.
Ignoring Mustangs in specific, I don't see the point. If you want a base model, there's really hardly anything to like, ignoring the fact that I saw a Scion tC for $3000 less a few days ago, as well as a very low mileage and nearly brand new Honda Fit for even less, both of which seem like better buys. And the high range models seem to be a little on the pricey side for what they're offering.
Why buy a $20,000 Mustang when you can get a
$15,000 Ferrari? Comparing a used car to a new car in any sense, even if it is only a year old is meaningless. And comparing a purpose built sports car to an economy car really doesn't make any sense either, for the most part buyers aren't going to cross shop the two.
The Soul really isn't expensive for what you get, the base model is $15,000 and well equipped it's still cheaper then it's actual competitor, those being the Fit, Cub and xB. It also comes with a better warranty. And all cars that are cheap can be optioned up to something really expensive. The MINI is a great example, the base Cooper starts at $20,000 but by checking option boxes I can double the price. Even my car, a Mk3 Focus, went from it's base price of $19,000 to $27,000 only after throwing a few options on it.
Also the Mustang was out of style when Ford released it. Having something that looks like it's from the 1960's isn't exactly modern.
So here's my summary; It doesn't work as a performance car due to it's soft suspension and lack of power.
The Soul never was meant to be a performance car, although given the engine sizes it has, it's not exactly underpowered. The 1.6L engine has 138hp, which is 18hp more than a MINI with the NA 1.6L in it, and the 2.0L has 164hp, which is 4hp more than the Focus. So while it's not a performance car by any means, it's not exactly lacking in power compared to other similar sized engines on the market.
It's suspension isn't meant for hard cornering either, most economy cars aren't setup that way unless it's a special package. Developing a sporty suspension costs more money and puts off more people to the car because it gives a rougher ride.
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As for why people buy the Soul? It's inexpensive, practical, and comes with Kia's exceptionally good warranty. Also people like uniquely styled cars since it gives it character. There are only a few cars on the road that look anything like the Soul, so buying one does help you stand out over say a Corolla.
I've driven one and I didn't hate it. Sure the 1.6L wasn't exactly fast but I didn't really expect it to be. I'd never buy one, but the Soul isn't the kind of car I'd really ever consider since so that's besides the point. I don't even think it's that good looking of a car either, but I can see where the funky styling would appeal to some people, I mean people did by the xB and that looked like a toaster.