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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
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: jaxs1 (Mar 18, 2008 9:04 pm) Anyway, sounds like they did a good job of negotiating. I'm suprized that Patrick Hyundai in Schaumburg wasn't a player as they tend to advertise some very good prices usually.
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Replying to: m6user (Mar 18, 2008 9:50 pm) $19500 at most minus $3000 rebate is $16500 minus $2000 down payment is $14500 financed. Is an insurance company really going to pay that much less than the remaining $14K-$14500 loan balance if the car got totaled in the first year to justify paying another $595 for gap insurance? He could have also put the $600 spent on the gap insurance down and reduced the loan payoff and therefore also the need to have gap insurance. |
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Yes.. that is a little pricy.. and, I wouldn't have bought it.. But, given the historical depreciation rate of Hyundais, I'm sure he'd be more than just $1K-$2K upside down, if something happened to his car in the next couple of years...
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Replying to: kyfdx (Mar 19, 2008 4:39 am) You can look up private party value of a 2007 GLS automatic and see it wouldn't be that far under the loan payoff especially if he had put that $595 towards lowering the loan balance even more. The 2008 would be valued at least slightly more than the numbers shown for 2007s. |
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Replying to: b612markt (Mar 18, 2008 8:36 pm) In CT, the cost is $27 per six month policy. b612markt should check to see what Progressive would charge on his policy & if more attractive see if he can rescind it from his purchase. |
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Replying to: bhmr59 (Mar 19, 2008 12:42 pm) I'm absolutely loving the new Sonata.
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Replying to: b612markt (Mar 19, 2008 4:28 pm) I think there's a lot of insurance companies who offer GAP coverage, because we have it with AAA and my co-worker have it with American Family. And yes, the coverage is a lot lower as compared to what dealers offer. 
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Replying to: b612markt (Mar 18, 2008 8:36 pm)
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Replying to: b612markt (Mar 19, 2008 4:28 pm) As an insurance agent, I was just suggesting that people check with their insurance company about the availability and cost of GAP insurance before purchasing it from the car dealer. (Honda leases "include" GAP automatically, but it is fractored into the cost. Honda doesn't give a choice.) My experience has shown that adding GAP insurance to one's insurance policy is almost always less expensive than purchasing it from the dealer. Plus, as the balance on one's loan decreases in relationship to actual cash value/replacement value, one may terminate GAP insurance if no longer needed. I didn't need it on the '05 Sonata as we had a large downpayment and paid $17,826 OTD (including 6% sales tax, etc). We have GAP insurance on our '07 Sonata (2/07 purchase date) which listed  $22,080 and which we got OTD for $18,189 since we only put down $2500. With a finance rate of 5.9% we may decide to drop the GAP insurance next year. If so, total GAP cost = $108 for two years. Good luck on maybe being able to re-do this, if the numbers work out. |
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