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Prices Paid: Buying & Leasing Experiences Hyundai Sonata Prices Paid and Buying Experience
5427 messages, Last post on Aug 29, 2008 at 12:29 PM
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Replying to: splongyuan (Dec 29, 2005 11:37 am) Purchased a 2006 Sonata GLS 4 - Deepwater Blue/Beige earlier today (Dec 31) from Rosedale Hyundai (Twin Cities). When we looked at the car the first week of December, they were at an MSRP of 19,995, which after rebates, put them at 18,495 (which would have ended up at 20,057 after taxes and fees). At that point they wouldn't budge. This week, a rival Hyundai dealer - White Bear Hyundai Superstore - was listing an "e-Price" of 18,146, based on an MSRP of 20,587, which was the basic 19,995 plus a $592 optional "Auto Butler" package. Their Internet Manager indicated that minus the Auto Butler we could discuss a price between 17,600 and 18,146. We took that information to the dealership we visited in early December. They offered a price of 17,600 for the Sonata. This included the $1500 for the two standard Hyundai rebates we qualified for and were willing to take, and a dealer discount of $895. With taxes and fees we paid an out-the-door price of $19,086.75, which we're very comfortable with. And it's beautiful-looking car. We're very excited. Thanks for the helpful discussions. Next up is following your thoughts on the payoff of the Hyundai financing. We were told today we had to do at least 120 days with a minimum of $164 in interest. Then we'll move over to discussion on the vehicles themselves. Thank you.
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| Paid $17,263 OTD which included destination charge of $600 + sales tax, license, mass transit, and doc fees totalling $1250. Final price was after $2500 in rebates. | |
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Replying to: wesvolk (Jan 01, 2006 1:00 am)
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2006 Sonata GLS 4-cyl basic 600(freight) 500(Ad) 1.06(6% tax rate) 1500(qualified rebate including 1000 from HMFC) Haggled to 17800(OTD) Good deal? |
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Replying to: backy (Jan 01, 2006 6:47 am) Just so you and everyone else knows, there is NO EARLY CANCELLATION FEE for refinancing or paying the loan off early. If Hyundai tries to send me one, I won't be paying it. There was NOTHING in my HMFC contract that I signed stating any element of time. So, EVERYONE, disregard what the dealerships tell you when you buy your new Sonata. Hallman's Hyundai in Erie told me that I had to wait 90 days to refinance my new Steel Gray Sonata LX w/ option 3 (moonroof and 6 cd changer). We all know what the 90 days was about - more money for them. So, buy your car and refinance as soon as you are in the system. It took me around 2 weeks until I got my info. Refinanced at a rate of 5.70% with USAA - better than 6.9% w/ HMFC. Good luck shopping all and Happy New Year (a little belated!). docjosh
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Replying to: docjosh (Jan 03, 2006 3:17 pm) OTOH, if I were to get the financing rebate and get a really good deal on the car, and the dealer is upfront with me and a pleasure to work with, and they ask me to please keep the contract open for 90 days so that they get their bonus, I think I would do that. I'd just pay off all but a few hundred dollars right away, to minimize the finance charges, then pay off the rest after 90 days. But if the dealer lied to me, I'd pay the whole thing off right away. 
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Replying to: wesvolk (Jan 01, 2006 1:00 am) |
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Replying to: backy (Jan 03, 2006 3:54 pm) the financing for 90 days. I was. Also, I was told that the best rate they could give me was 7.49, and then the same dealership gave a young guy 5.something. My credit score is close to 800. So I had no second thoughts about refinancing. If they had been straight with me, I might have kept the financing for 90 day. NO PENALTY, NO PAYOFF FEE. AT least in Pa.
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Replying to: zen2 (Jan 04, 2006 12:30 am) Yeah, Hallman's Hyundai in Erie, PA is great like that. I like their sales team... but the financing team can leave something to be desired! Although my credit rating is flawless, I was told that I "didn't make enough of a monthly income" to finance for 60 months at 5.9%. Instead, I was forced to finance for 72 months at 6.9%. This was after me handing them a hefty down-payment of $6200 cash!! Not bad for a 23 year old medical student eh? Keep that for 90 days?? I think not. When my HMFC customer number came in the mail, I called USAA (insurance, loan, and banking company for military personnel) and refinanced immediately at a rate of 5.7% for 60 months. I don’t plan on keeping the loan for that long, but that is to at least get me until May. After that, I don’t have to pay for food / housing for two years. The beauty of 3rd and 4th year of medical school – get an education from hospitals that offer room and board. Then, most of my Air Force stipend will go to paying off the principal of my loan. But anyway, that's beside the point. I just wanted to share a little more background information as to why I did NOT keep my loan with HMFC for 90 days. If Hallman's would've let me initially finance for 60 months at 5.9% I might not have refinanced at all! Oh well, sorry HMFC - I have to do what is right for me. docjosh
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Replying to: docjosh (Jan 04, 2006 9:58 am) Just shows that the finance guys at the dealership weren't too bright. You, I and most people probably wouldn't bother refinancing a 60 month note for a 2/10% difference in the interest rate. Especially with a relatively low amount borrowed. Heck prepaying a couple hundred bucks early in the note will probably save as much interest as refinancing for 2/10%. 
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