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Prices Paid: Buying & Leasing Experiences Hyundai Sonata Prices Paid and Buying Experience
5384 messages, Last post on Aug 21, 2008 at 7:56 PM
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Great buying experience so far with Hyundai of Waterford in Waterford, Michigan. I've been guiding my mother-in-law with her new vehicle research and purchase. Overall, a very pleasant and laid-back environment to shop for a vehicle. I am a car enthusiast and have bought several cars the past 10 years. I haven't gotten a good feeling from many dealerships I've visited. This is one of them. Apparently this is one of the Roger Penske-owned dealerships. Both the salesperson and the sales manager very professional, friendly, laid-back. A real breath of fresh air. Not what I've come to expect from a dealership, especially a Hyundai dealer. This is a large Hyundai-only store and they seem to have several 2005 Sonatas left. This is the vehicle and pricing we agreed to last night. Delivery should be this Friday. We were able to get the color and options she wanted from this local dealer, which seems pretty fortunate this late in the model year. Basically, the dealer gave us invoice price minus the entire holdback, plus $170 doc fee: $21,218 - 665 + 170 = $20,723. Note the invoice price included $500 for advertising, as listed on the dealer's printout. Prior to purchase, I didn't have time to research if the $500 is dealer-added charge or if the manufacturer actually does charge the dealer this amount per vehicle. Anybody know? We took the 1.9% APR plus $500 rebate. Originally, we agreed to $500 below invoice with 0% APR for 60 months and no rebate, but the sales manager goofed and that deal had expired on June 2. So he gave us the remaining $165 of holdback as a goodwill gesture. This seems like a very good price on what is a solid and well-equipped vehicle. Even if we paid $500 for advertising that we didn't need to, the deal was still basically at invoice since the $665 holdback cancels out the $170 doc fee and the $500 advertising fee. Have people been successful doing better than an 'invoice minus holdback' deal or not paying for the $500 advertising? Other models she considered and her impressions... She considered midsize sedans and small SUVs before deciding she probably could do without the versatility of the small SUV in favor of lower price, greater comfort, and presumably lower operating costs with a sedan:
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Replying to: bluedevils (Jun 07, 2005 7:54 am) Umm.. actually yes... people have been doing way better than anything near invoice minus holdback. Not sure about why you were charged $500 for advertising. I went to 3 different Hyundai dealerships before I made my deal, and not one of them tried to get me to pay $500 for advertising. Also, the $170 documentation fee is pretty much way out of line too. I ended up paying $129 and I thought that was outrageous to pay.. In the end all that matters is that you and your mother-in-law are happy with the Sonata and that you got the color and interior that you wanted, no matter what you ended up paying. I took delivery of my 2005 Sonata 2 weeks ago, and I still really like it. I have found a couple of things that I wish were designed a little different and will note this on the comment card when Hyundai sends it to me. Anyway good luck with your new Sonata, you will be happy for your Mother-in-law as she drives around town in it.
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Replying to: ciras3 (Jun 08, 2005 7:02 am) Thanks for the feedback. How is it that folks are doing way better than invoice minus holdback? And why haven't folks been posting about this? I didn't see anything along those lines posted in this thread. Are there some unpublished factory-to-dealer incentives, or are dealers just taking losses to get rid of these '05 Sonatas since the '06 units are already rolling in? I know the $170 doc fee was outrageous but I didn't balk because I felt we were getting an excellent deal. Now it appears that may not be the case. We could still back out of the deal and demand something better (haven't signed the purchase paperwork yet), but at this point my mother-in-law is happy with the car and the deal and there's no point in doing that. To be clear, you are saying that folks have been getting prices better than Invoice minus Holdback minus Current Rebates? |
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Hi, I guess my first question is why are you only getting a $500 rebate? The current rebate on the LX model is $1750 from 6/1-7/4. I don't see any factory financing for 1.9% listed. Is this something you are getting from the dealership and they are withholding $1250 of the factory rebate because of their financing? Secondly, the $500 you are being charged for advertising raises a red flag. I can only go by my experience, but I researched this forum prior to buying my Sonata, went to 3 different dealerships here in Wisconsin (across the lake from you) and no-one had a $500 advertising charge. Is that standard for all of the dealerships in your area? I don't know.. it just seems that you could walk away with a 2005 for better than basically invoice price. Like I said, if you are happy with your choice and they have the color and the financing is good for you.. I'm happy for you. I would just ask them what's up with only the $500 rebate and if they can eat the $500 advertising cost.
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Replying to: djlu99 (May 30, 2005 12:21 pm)
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Replying to: ciras3 (Jun 09, 2005 9:45 am) Since this was my mother-in-law's vehicle purchase, not my own, I didn't spend as much time digging/researching/comparing/price-quoting/negotiating as I normally would. EDIT: Ok, just checked edmunds.com. They show $1750 rebate on 2005 LX 6/1/05-7/4/05. Then checked hyundaiusa.com and they finally are showing incentive info. Over the weekend, they had nothing posted. They show $1750 rebate OR 1.9% APR + $500 rebate. EDIT #2: I think I'm confusing myself. It was getting late (10pm) when we were at the dealer. The sales mgr told us the $2,000 rebate expired on 6/2/05 and the new offers were $1750 OR 1.9% + $500. At least I think that's what he said. And borrowing the full cost of the vehicle (yes, I know the poor initial equity position of buying a Hyundai with $0 down), the 1.9% + $500 was cheaper than $1750 + our alternative rate of 4.9%. |
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Then checked hyundaiusa.com and they finally are showing incentive info. Over the weekend, they had nothing posted. They show $1750 rebate OR 1.9% APR + $500 rebate. Hi, Just looked on hyundaiusa.com and I see the 1.9% + $500 rebate information also now. If you are borrowing the full cost of the vehicle you won't have as much bargaining leverage as you mentioned. I still would ask what's up with the $500 advertising charge. If the Sonata you have chosen is the color and options you want, and no other dealerships have that combination, you have to go with what you can get that makes your Mother-in-law happy.
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Replying to: ciras3 (Jun 09, 2005 11:23 am) If borrowing the full $21,989-- the 1.9% APR saves $1,770 over 60 months vs. 4.9%. So it is worth taking 1.9% plus $500 vs. $1750 and 4.9%. I may have her ask about the advertising fee but she probably doesn't feel like it. She is burned out from the whole buying process. Thanks for your help. |
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I have been looking for a Sonata 2005 GL 4cy. automatic with package 2. Today, I visited one of dealer shops around boston and they suggested following (including tax, docs and plates). (1) $229 * 60 months with $5000 down payment (2) $289 * 60 months with $2000 down payment Because I don't have much credit history in USA, they gave me 5.9% APR and 1750 rebate from MSRP. But the price seems too much for me and one of managers was nightmare (Also, they don't have color I'm looking for). Does anyone have better offer than mine around boston area? Please give me suggestions. Thanks
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Replying to: scottc2 (Jun 09, 2005 9:56 am) |
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