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Prices Paid: Buying & Leasing Experiences Hyundai Sonata Prices Paid and Buying Experience
5038 messages, Last post on Jul 05, 2008 at 2:21 AM
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Hi guys. Well im pretty close to getting a car. Maybe the next few weeks here. I went into the hyundai dealership because i seen the have AWESOME financing deal of 0% for 72 months + 500 cash back. I go in looking for a 08 Sonata V6 Limited with a moonroof. The only one the had was white which i wouldn't want. Id want either silver or grey. I went in there with a price in mind what i wanted to pay for the car 22.5k. They of course said they couldn't get me this price and tried normal dealer tricks of giving me the most they could for my trade in and then charging me 25.5k for the sonata and then showing my payments would be only $338 a month (which im sure a lot of people fall for) but im not that stupid smile.gif. Ive seen a hyundai dealership in ohio sell pretty much what im looking for for pretty close to 22.5k. I guess my reason for this thread is to ask you what is a "safe" price to ask for this car but a price that, for the most part, dealers would accept. Is my asking price of 22.5k way to low? What would you consider to be in the safe range for what im looking at? If i am going to get a sonata i definitly want to get in this deal before the end of the year because i will get $500 cash back on my offer to them and then 0% for 72 months which is just awesome. Any help would be appreciated. thanks, ncage
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Replying to: ncage1974 (Dec 18, 2007 7:45 pm) |
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I picked up my new 08' SE Sonata this evening, is a V-6, did not get the "Premium" package. Anyhow, negotiated the deal a couple of evenings ago, wanted the DK. Cherry Red color. Sales person and my wife and I there together. After a bit of haggling(relatively "easy going") we ALL agreed on a price of $21,000 EVEN, after rebate, before taxes--approved by sales manager.To be financed at the 0% rate. They tell me they would have to do a dealer exchange, but no problem, they found what I want, will have it at dealership in 24-48 hrs. Cool, or so I thought. I wait most of next day, was supposed to hear from dealership with status.(Big Virginia dealer we are talking about here)--I hear nothing, so at about 3:00PM, I call...My sales lady is not in, talk to other sales man, who ask's me, "So when did she say we will have it"? (He knows NOTHING about sale). I tell him the 24-48 hour bit, he says "Oh, ok, I will make SURE it is here tomorrow afternoon"(guess it will be 48 hours). Now, I am beginning to have the "warning lights" going off in my head. So, I call next MORNING about 10:00am, to check status on car, which is supposed to be in that afternoon...guess what, now NETHER salesperson I have talked to is in..and sales manager has to "check" and see.She knows nothing about said promised delivery, and tells me " I wasn't here yesterday, I do not know what happened"---anyone here ever hear of leaving a note or email with the management people? Make a long story short, at 6:00 PM, my car is still 4 and 1/2 hour drive away, and dealer's pick-up person has not even arrived there yet! Now I discuss with the sales manager a time on the THIRD day to pick up my Sonata,,,set up 4:00PM this afternoon---I figure they have to have it done by then...! I get there car, looks good, we go in to finish paperwork. I am now working with #2 sales guy I talked to the day after my agreement with sales lady to buy car.(you following?) We do his paper stuff, then I go to finace guy. When we did the "agreement" for the $21,000 price, the payment ended up being $300 a month  72 months. Finance guy is whizzing through paperwork, and tells me payments are $317.00 a month. I say, "not right, suppose to be $300.00 a month"--Also tell him, I do not have my reading glasses, so check out the problem. He runs numbers on his computer, says "no, I do not know where she(sales lady) got $300 a month", it is $317.00 So, I in my GULLIBLE, NON-READING mind, say "OK, she messed up, $17 a month is not going to kill me. And sign contracts where shown by finance guy. I drive home in new car, happy, get inside, read contract....AND FIND THEY HAVE CHARGED ME $22,220 BEFORE taxes etc...on a car that was AGREED UPON TO HAVE COST $21,000!!!!! I call sales manager, she AGAIN gives me this "I wasn't here---she(my sales lady) must have made a mistake....! No mistake, it was an agreed upon price by sales person, the sales manager on that night, and myself. I am fit to be tied now-- can I do anything at all to get them to honor what was agreed upon? ANYTHING? Been home 3 hours with my new car, and am sorry I ever decided to even LOOK at a new vehicle! Sorry for the length--any good lawyers here?  Pud
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Sorry for your troubles, pud. What dealer did you use? I'm in the Maryland-D.C. area, and may be looking for a new Hyundai in the next few months. Dealers to avoid are just as important as dealers to use. Thanks, Bob
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Replying to: pud2 (Dec 21, 2007 9:14 pm) Go back, do not call, and talk to your sales lady and the owner of the dealership. Find out what happened here. If they do not give you the car for $21K tell them you don't want it because you were lied to and want to give it back. See what they do then. A lawyer can't help you here unless you have something in writing and if you did this would be a no brainer. Don't threaten them with a lawyer that will get you nowhere. |
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Replying to: rdillier (Dec 22, 2007 9:04 am) Other ones tried to load price up. |
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Replying to: pud2 (Dec 21, 2007 9:14 pm) But go there & demand hardly what they've promised, you'll get it. Fight for it. If not just leave the keys at dealership & see reaction. Don't be nice guy. *BTW - Who is it?: Not Malloy's or Brown's? |
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Replying to: ncage1974 (Dec 18, 2007 7:45 pm) Is it only because of good credit? I don't have good credit is there any chance to get 0% financing for 2008 sonata? 
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Hey Guys, Firstly, thanks for everyone posting your experiences it's definitely comforting to know what others success in this nerve-racking venture has been. I stopped by the dealership tonight and feel like I was severely jerked around, so wanted to post what occurred and get others' feedback to see if I am expecting too much. I am looking for a '08 Sonata Limited (I4, due to gas prices and cost) Trading in my "Good" condition, '04 Elantra GT My thoughts going in: Invoice Pricing on an '08 I4 Sonata is $21,710 after destination charge. TMV Pricing (on 12/28) is: $23,014. I settled on a figure of roughly $22,300 for the car based on these two figures. For my trade in, I figured I would get $5900. Edmunds used car appraisal is: "Clean" (Most matching description) - $6,323 "Average" - $5,420 Kelly Blue Book (for Dealer Trade-In) is: "Good" (Most matching description) - $6935 "Fair" - $6,030 So based on all the above figured and to ensure there were not many issues with my expectations on what to expect for my Trade-In, I set the number at $5,900. With that being said, I went in and met with the sales man. We walked the lot and determined there was a Sonata present that met what I was looking for. We went back to his desk to discuss the deal. He initially had me fill out a short paper with some information on it and he went to have my trade-in evaluated. After returning the deal he provided me was: $22,320 for the vehicle. $5000 for my trade. $1039 Tax $109 TTL He had ran my credit and as I suspected I did not qualify, he stated, for the 0%/72 month, but did qualify for a lower interest rate of 2.9% through HMFC on a 48 month term. He indicated the monthly payment would put me somewhere (I forget exact) around $450 per months. He stated in order to lock in this 2.9% interest rate that I would be required to put $4,500 down (to which any prior discussion around down payment I advised that I was not interested if at all possible in putting a down payment - so this was a bit of a shock!) I immediately advised him that I would not be able to put $4,500 down on the vehicle and again was more than satisfied with my own car and was only there to see if I could get in to the Sonata for a monthly payment not substantially higher than my current payment of $250.00 per month. He took this in and started reworking numbers with no down payment included and I advised him to use a 72 month term. With the reworked numbers he said it still came to above $450 per month. This is when I advised him we need to start breaking down the cost of the car and the trade-in. I asked about the vehicles price. Break down this figure. What is included in the $22,320. Where is the $1000 rebate? Where is the $500 Value Owner Coupon? Where is that in his equation. He stated these discounts were already applied to get to the $22,320 figure. Stop the boat. What? This is where I told him that, in essence, he is selling me the car then for the $22,320 price + $1,500 (rebate/coupon) = $23,820. Far above the $22,300 I aimed to purchase the car for. I told him this. He asked what numbers I had figured. I told him that invoice on the vehicle + destination charge was roughly $21,700. I said I figured to ensure that I am not asking for too much I would expect to pay $600 above invoice for $22,300. I told him THEN, I would receive my $1,500 in discounts giving me a final price of $20,800 for the car. NOT $22,320. I then told him that I thought $5,000 for the trade-in was substantially shy of what I figured to get. I told him that through the various appraisals I have had done and research I have performed I was looking to get higher than this. At this point I told him $6300 for the trade-in. He quickly scribbled through the $5000 figure and said he would go to $5,500. At this point he got up and left for a short time and came back with the numbers re-worked. Basically this occurred for about 15 minutes and the final deal he offered to me was: $22,320 for the vehicle (after the rebates and everything, so he basically did not discount the car at all) $5,500 for the trade He then stated on the last deal that it would be required to put $1,000 down to receive the 3.9% financing. He previously stated that I did not receive a $500 rebate through HMFC as I did not qualify for the 0%, but at this point later, indicated now I did and could put this toward the $1000 being required down, and pay $500 cash. I told him this was not an issue but I still did not feel I was getting a fair deal. I told him I would think about it, of course, with no intentions of doing so as the mis-matched stories of rebates and not and at one point in the conversation my girlfriend asked "Do you have to pay the sticker price on the car?" and he attempted to state that yes, you do. I told him that most people may do that, but with some research you can often find that the sticker price is a suggested retail price and not typically reflective of the price you can ultimately achieve with knowledge of the various dealer incentives and invoice pricing. I felt overall I was jerked around quite abit with sales tactics designed to confuse me with the various "requirements" to get the deal that was at that point being offered. Down payment required, then not. 2.9%, then 3.9%. Not clearly addressing where my rebate and value owner coupon is being applied, the inflated cost of the car and having a HMFC rebate or not. So I come her confused and frustrated. A) Were my original expectations too steep? B) Do you qualify for a $500 rebate for financing through HMFC, even if not for the 0% interest? C) If you receive a deal of say, 3.9% interest as I was offered am I still able to use the $1000 consumer rebate and value owner coupon? D) At this point he is scheduled to call me back tomorrow, how would you handle this? Part of me says to not answer the phone or answer it and let him know that regardless of what he was able to miraculously come up with and work out over the night/morning that I am no longer interested - or give him hard figures that I won't budge on and if he can work it, he can, if not - done deal. E) I called my bank today and they were closed but the IVR indicated my loan "payoff amount" was $6,735 - the salesman stated it was $7,100. What would cause this discrepancy. I just made my payment 1.5 weeks ago and I am not charged $300/mo in interest, my current rate was 7.9%. This is only the second time I have purchased a new vehicle and though I realize my approach is likely not the most graceful, it's honest and straight-forward. So summary: He states: $22320 Price of vehicle ($1000 rebate, $500 value owner coupon apparently already applied) -$1000 down ($500 rebate for HMFC Financing / $500 Cash) ----------------------------------- $22320 -$5,500 trade-in --------------------------------- $16,820 + 1,093 Tax ----------------------
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CONTINUED: $17,913 + $109 TTL -------------------------------- $18,022 +$7,100 Current car payoff ------------------------------- $25,122 financed 3.9%/72 mos = $390/Mo Looking for advice, Cargain |
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