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Hyundai Elantra, Hatchback, Sedan
#2229 of 4417 Elantra Resale Value
Oct 08, 2007 (7:33 am)
Most here on Edumunds.com denigrate Hyundai resale values. I just finished some research based upon the purchase of our 2006 Elantra GLS sedan automatic vs. a 2006 Honda Civic LX auto and a 2006 Toyota Corolla LE auto. The prices paid, including TTL, for the Civic and Corolla were based on an average of those posted here on Edmunds.com from buyers for those trims over a snapshot of time (and, forum postings) in 2006. Interestingly, the Elantra does quite well compared to the Civic and Corolla which contradicts the position of many anti-Hyundai posters.
The values (trade-in and private party) were taken from the Edmunds.com appraisal calculator. This trade-in value correlates with what my local dealer, and Intelliprice, would offer for a new car trade-in, so this value should be good enough for basic comparison purposes. The data:
2006 Elantra - Trade-in: $9,647 Private Party: $10,738
2006 Civic - Trade-in: $13,508 Private Party: $14,620
2006 Corolla - Trade-in: $11,429 Private Party: $12,613
Comparing total purchase price vs. trade-in value:
I paid $13,700, including TTL, for my 2006 Elantra. This equates to a $4,053 loss since purchase - in my case, purchased in December 2005.
The average purchase price, including TTL, based upon Edmunds.com postings for the 2006 Civic LX is $17,500. This equates to a $3,992 loss since purchase.
The average purchase price, including TTL, based upon Edmunds.com postings for the 2006 Corolla LE is $16,200. This equates to a $4,771 loss since purchase.
In each case, the first year depreciation hit is substantial, as expected. But, when you compare each based upon not the MSRP, but the actual delivered price, including TTL, the Hyundai fares quite well against their highly regarded competitors.
#2230 of 4417 Re: 07 Elantra GLS auto, 4K miles $12998 [irismg]
Oct 08, 2007 (11:52 am)
this car was most likely a rental car. Just know that only the 5 yr 60k mile warranty transfers. The price is a fair price, but not a great price, as carmax doesn't offer what most would consider "great" prices.
#2231 of 4417 Re: 07 Elantra GLS auto, 4K miles $12998 [nthe]
Oct 12, 2007 (9:48 am)
Well, it's moot now, because that car was snapped up before I could even drive it! If it's possible to get a current model car that isn't even broken in yet, equipped as it was, for less than $13,000, why on earth would anybody buy a new one. I'd consider what Carmax offer a great price, and obviously its new owner thought so, too! And frankly, I don't care much about the warranty, because if the car is well made, like a Toyota, then I won't ever need to use it.
Thanks for the input, though!
#2232 of 4417 Re: 07 Elantra GLS auto, 4K miles $12998 [irismg]
Oct 12, 2007 (1:40 pm)
Sorry to hear about that. I would look into the Corolla as they are being discounted quite a bit and the Forenza, Spectra and SX4 are other options you might want to consider.
#2233 of 4417 Re: 07 Elantra GLS auto, 4K miles $12998 [alamocity]
Oct 14, 2007 (7:06 pm)
I'm actually a little wary of Kias, although I wouldn't mind driving one for the heck of it. I absolutely love the styling of the Forenza wagon, but people say avoid it like the plague. The SX4 I've never heard of, which tells me they may not be all that popular, for what reason is to be determined, I guess. Thanks for the suggestions, though. You're right about the Corolla markdowns. I'm seeing some cheap ones with crank windows, which is an absolute dealbreaker for me, but it'll be interesting to see how cheap they get the closer it gets to Thanksgiving.
I think it's interesting that of the two '07 Elantras Carmax had nationwide, both sold in less than a week. They don't stay long!
#2234 of 4417 Re: 07 Elantra GLS auto, 4K miles $12998 [alamocity]
Oct 19, 2007 (10:51 am)
"the Forenza, Spectra and SX4 "
i would stay away from suzuki as much as possible.
Oct 19, 2007 (5:38 pm)
How'd I do? Here's how the numbers break down. I spent a few weeks working over several dealers, and I really feel that this was the best I could do right now. You guys know, so tell me how I did.
New '07 Elantra GLS. Quicksilver, AC, manual trans, XM, floormats, cargo net.
Here's how the buyer's order reads:
Sale price: 14933.00
No Trade-in: 00.00
"Doc" fee: 398.00
Taxable total: 15331.80
State Tax: 1076.45
County Tax: 80.00
Gross Receipts tax: 46.00
Plates or Transfer: 99.00
Less Rebate: -1000.00
I know that at a different time of year I probably could have done better. Four dealers were almost all at the exact same price. The guy I bought from said he wasn't making anything but volume and that all his holdback was gone on this one or some such.
This sale was in Knoxville, TN.
#2237 of 4417 anyone know dealer invoice on 08 gls?
Oct 22, 2007 (5:36 am)
I went online and saw that an 07 elantra gls with auto and preff pkg has an MSRP of 15715 but does anyone know what the dealer invoice is and also the dealer invoice for the same 08? I am going to be in Syracuse NY where they have a huge superstore so i want to know what number to walk in the door with so i don't really have to negotiate too much. I bought 2 other cars there before, but currently drive a nissan. Do i get the $500 loyalty rebate?
I was going to say $14400 OTD and not really move too much. What do you guys think?
#2238 of 4417 Re: anyone know dealer invoice on 08 gls? [roach21]
Oct 23, 2007 (8:30 am)
"I went online and saw that an 07 elantra gls with auto and preff pkg has an MSRP of 15715"
i'm not sure where you saw this MSRP but the correct sticker price for this car should be about 16,700. With the 1000 rebate (only on the 07s) that would make it about what you saw, but the rebate is not reflected in the MSRP. You qualify for the owner loyalty ONLY if you currently own another hyundai vehicle.
The 08 GLS will sticker for $16,895 (without floor mats) and the invoice is around 16,335 (according to edmunds), so 14,400 OTD would seem very difficult on an 08.