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Prices Paid: Buying & Leasing Experiences Hyundai Sonata Prices Paid and Buying Experience
5761 messages, Last post on Oct 10, 2008 at 5:41 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
| I just bought a 2006 Sonata GL 4cyl auto for 15,257 from Gary Rome Hyundai in Holyoke, Massachusetts. They even threw in floor mats and a full tank of gas. I originally went in to buy a second Elantra but my wife liked the bigger size of the Sonata so we test drove it and decided to go with it. My sales rep even let me use his computer to look at Edmunds before I made the offer. I don't know if this is the best deal out there but it's what I offered and we made a deal and it's what I was willing to pay. As far as resale value for me thats a lame excuse Honda and Toyota owners use for paying up to twice as much for a comparable model. I've owned Hyundais for 6 years now and they've been bulletproof and my local dealer not only is easy to buy from but they have one of the best service departments I've ever dealt with. Let a close friend (Camry fanatic)take the Sonata for a test drive and he was quite surprised at the overall quality of the car. He was floored when I told him what it costs, about 2,500 dollars less than the Corolla he just bought his wife!!!! Love my Hyundais!!! | |
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Replying to: jlemoine (Jul 30, 2006 7:22 am) If you are happy, that's all that matters. Products sell for what they are worth.
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Replying to: isellhondas (Jul 30, 2006 7:50 am) 
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Replying to: isellhondas (Jul 30, 2006 7:50 am) Products often sell for what people are suckered into paying. You're correct that the Accord does not sell for 2X more than the Sonata. The Accord V6 sold for "only" $7K more than my V6 Sonata when I bought it. I am happy, and I have a 10 year warranty.
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Replying to: bobad (Jul 30, 2006 8:29 am) Personally I think it's just REMARKABLE to what extremes Honda's customer service folks will go to "educate" us rustic saps from our totally uninformed opinions about automobiles. What a true spirit of United Americanism they share...blah, blah, blah. 
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Replying to: bobad (Jul 28, 2006 1:50 pm) How do you get to $18K for a Limited? Are there that many fees and that much holdback built into the dealer invoice? Even at Fitzmall the internet price is $22,100 for a Ltd with Ultimate option. |
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All we have to go on is history.. And..what the finance companies expect the car to be worth three or four years down the line.. Checking an independent bank's residuals.. Hyundai Sonata GLS 3yr/36K residual 47% 4yr/48K residual 37% Toyota Camry LE 3yr/36K residual 57% 4yr/48K residual 46% Now, actual depreciation costs between the two cars are probably closer than this, as the Sonata sells for a bigger percentage discount from MSRP. But, regardless of the intrinsic worth of each vehicle, it is pretty hard to argue that the Hyundai holds it's value as well as the Toyota.. As mentioned above, if you keep your car ten years, then it doesn't matter much.. But, if you are like most people and trade every 3-5 years, resale value is important. regards, kyfdx
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| As much as I have been impressed with the quality improvement of the Sonata, I am thinking it might still be worth paying the extra 3k for an Accord or Camry because of the resale. For instance, a Sonata 4-cylinder may go for about $15,500, while an Accord or 2007 Camry will go about $18,500. After about 3 years, I might still be able to get the $3,000 back when I sell it, due to demand and strong resale. | |
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| Consider residual values relative to the cost and relative to how much money is actually lost over the period of ownership. If you lose and additional 10% on a Sonata that costs $18k vs. a Camry that is $22k(or more), well, you are really losing about the same amount of actual dollars. Also keep in mind how much more you are paying in interest for (the additional amount) paid for a Camry. I think you'll find the the differences are quite minimal and may even be in favor of the Korean car. I owned 3 Hyundai Sonata's, never had serious problems and found they were inexpensive to own and operate in every way. | |
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Replying to: kyfdx (Jul 30, 2006 11:10 am) |
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