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Prices Paid: Buying & Leasing Experiences Hyundai Sonata Prices Paid and Buying Experience
6603 messages, Last post on Nov 11, 2009 at 10:01 AM
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Hi. I just came back from a dealership here in Texas. Sonata GLS I4 Auto + Premium Package Price Paid MSRP: $ 19,480 Sales Price: $ 17,100 Balloon Financing Rebate: $ 3,000 Final Price: $ 14,100 Tax: $ 881.25 (6.25% of $ 14,100) Doc fee: $ 50 Title and License: $ 124.50 Dealer Inventory Tax: $ 31.98 Balloon Detail Downpayment: $ 2,500 Amount Financed: $ 12,687.28 7.9% for 24 months (finance charge: $ 1,844.03) Monthly Payment: $ 165.97 Balloon Note: $ 10,714.00 As there's no prepayment penalty, I will pay it off after three months (I was advised to make at least three payments to avoid the possible take-back of HMFC rebates.) The original negotiated price was $ 13,700 including a recent graduate rebate of $ 400, but it was later found out that the balloon note is not combinable with the graduate rebate. Probably it wasn't the best deal available, but I'm just happy that it's done. |
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Replying to: worldly (Jul 27, 2007 1:15 pm) Of course, it's your option to say "no, thanks" (which you did) and go in search of a better deal. But each dealer has the right to set whatever price they want for the cars they sell, within the law. It's their business to run. We as consumers can accept or reject their deals.
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Replying to: backy (Jul 28, 2007 10:49 am) First, the deal they countered with is COMPLETELY UNCOMPETITIVE, and was an OBVIOUS attempt to take advantage of a consumer. Second, this is DEFINITELY PREDATORY SALES tactics. You may feel it's justified, but I'm willing to bet the majority of consumers DO NOT appreciate these tactics. The era of this type of salesmanship are numbered. It reflects VERY POORLY on the brand name. The automobile industry is so competitive that these dealers will be forced out of the business very soon. By the way, did you ever take Business 101 in college? The only thing you got right is it's a free-market economy, they can ask any price they want, and I can refuse such predatory offers, and go elsewhere.
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Replying to: worldly (Jul 28, 2007 11:16 am) Your summary shows that you understood precisely what I was saying: it's a free-market economy, dealers can ask any price they want, and you can go elsewhere if you don't like it. I am shaking my head wondering how a $200-below-invoice, straight-up offer is "predatory". Is it the best offer you may be able to get? Probably not. But it's not what I would call a "bad" offer. If this dealership had made this offer to me, I would have simply told them, "Thanks for your offer on the Sonata. It is not acceptable to me, so I will be shopping at other dealers. Please let me know if you change your mind about my original offer."
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Replying to: fwallets (Jul 28, 2007 10:07 am) I am VERY happy with my 2007 Saturn VUE V6. Big powerful engine, onstar, zero %, big tires. I feel I need the high clearance from the ground. Tired off being scared in floods/water while others pass me by. A consideration in Texas right now. Not much if any more total money. |
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Replying to: backy (Jul 28, 2007 11:31 am) You said, "I am shaking my head wondering how a $200-below-invoice, straight-up offer is "predatory". Is it the best offer you may be able to get? Probably not. But it's not what I would call a "bad" offer." Congratulations on your MBA. But, I wouldn't want one from the school you attended. Have you done ANY research on the effect of "time of the year" on automobile prices? Do you know anything about "car pricing and excess inventory" at the end of a model year, and the beginning of a new year? If, at the minimum, you had examined the prices other posters were recently paying, on this site alone, you would understand how ridiculous and uncompetitive an offer of $200 below invoice is on a 2007 Hyundai GLS. Before you speak up in the future, I recommend you know what you're talking about, and do a little homework. You may be an experienced salesman with an MBA, but you know next to nothing about car sales, pricing dynamics in the auto industry, and building brand loyalty in an extremely competitive environment. |
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Replying to: worldly (Jul 28, 2007 1:21 pm) I won't bore you or others here with my resume, but I will give you this one little piece of advice, then I wish you best of luck in finding the World's Best Deal on a Sonata: take the emotion out of it. And try treating people, including car dealers, more civilly, and I think you'll find the car-buying experience more pleasant. Just because someone isn't willing to sell a car to you for way under their cost doesn't necessarily mean they are preying on you.
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Replying to: alamocity (Jul 27, 2007 4:32 pm) I have a 2001 dodge stratus es that is extremely beat up with 73,000 miles. I could have got my sonota automatic gls with the premier package for $17,800 which includes the $2000 rebate, so there would be no zero percent financing. They offered me $4 K for my car which would have brougt the financing down to $13,500 (with the trade in tax) over four years. When it's all said and done, I can get the car for $325 per month over for years at a 6.9 interest rate with leather seats installed. That price is my trade in. Any advice would b e appreciated on how much I should pay. BTW sales tax is 9 percent in chicago. |
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Replying to: backy (Jul 28, 2007 1:33 pm) We all know as it gets in to the end of the model year - it is very conceivable to by a car below invoice. The manufacturers give allowances both on a per - unit and total sales volume. This is common knowledge and I am not a car sales person. While a deal like this will turn out out be a "skinny" for a sales person, it won't make the "Sales Stories" board either. But if both parties know what the numbers are, it (the deal) can be wrapped up in a very short time!
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Replying to: fwallets (Jul 28, 2007 10:07 am)  ) Thanks.
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