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Prices Paid: Buying & Leasing Experiences Hyundai Sonata Prices Paid and Buying Experience
6602 messages, Last post on Nov 08, 2009 at 1:38 PM
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Replying to: samadams3 (Oct 09, 2008 5:20 am) Avoid psychological warm fuzzys (like TMV) etc, arbitrarily assuring you you weren't screwed. The lowest price you can get out of 10-20 dealers via email last week of the month is the lowest you can get. Even nada and nada.com book trade in prices on used cars are suspect as many states base yearly car taxes and such on it and it is suspected of being arbitrarily high. Price: For those who need targets, a 20000 msrp 2007 sonata gls has a kbb trade in value of about $12000, about the same from other sources. Add about 20% to the trade in of a used one for a new 08 and about 35-40% for a new 09 (2 years depreciation) Puts you about 16000+/- for a new 09 Sonata. This is around the number you want 10-20 dealers via email to meet or try to aggressively beat (with all dealer doc fees and such). This formula holds for about 95% of production autos. Hyundai has aggressive promotions in some eastern (eg VA, NY) and western parts of the country and some of you will be more successful than others on this particular vehicle. Financing: Aggressively shop financing options and know your monthly payment to expect as you can easily leave $2000 or more on the table there over 4 or 5 years and waste your time trying to squeeze $100 off the price or equivalent in oil changes, floormats etc out of some manager. Extended Warranty/Service agreements. Avoid obviously buying an extended warranty on a Hyundai. For other makes with a 36000 mi bumper to bumper and 60000 mi powertrain warranty about $800 is what you want for a 7yr/100k mi bumper to bumper FACTORY extension on an average sedan. For bigger vehicles with 4wd, navi, reverse sensors etc we're talking about $1100 or so. Avoid being taken for $1800-2000 for these in the finance office. Avoid aftermarket warranties from unknown warranty companies. Add ons: Paint sealant, wheel locks, pinstripes, undercoat, fabric guard have a total dealer cost of $200 more or less if all on the same car. Avoid paying for any of it. Good luck --jjf |
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Is this the right place to ask about prices for used Sonatas? I'm looking at a 2007 Sonata GLS 4cyl, auto., 37k miles, sunroof, power drivers seat, at a Hyundai dealership. The dealer has it listed on their website for $11,995, which seems like a good price. It would still have about 23k left on the warranty, which is nice. I'm wondering if there's any room to negotiate the price down further. I test drove it today, and they tried to tell me the price was $14k. I had no intention of buying the car today anyway, so I left and told them I'd call next week, but I'm assuming I can get the car for what they have listed on the website, which is below TMV. It's a former rental car.
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Replying to: marys236 (Oct 11, 2008 3:04 pm) That is a big red flag for dealing with that dealer. If they advertise a price on their web site, and there are no exceptions e.g. "price good only until XX date", then they should honor it. Did you talk to the Internet sales rep? Sometimes there are special prices on the Web just for Internet shoppers.
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Replying to: backy (Oct 11, 2008 8:37 pm) No, when I went, I just wanted to look at a Sonata. I had never driven a Sonata, and wasn't even sure it was something I wanted, but I liked it more than I thought I would. I had not printed out the internet listing on the car, and they had several used Sonatas at different prices, so I wasn't sure that the car I test drove was the one they had listed at $11,995, until I verified the stock numbers when I got home. I can always go through the internet sales dept. if I have to. I'm just wondering if I can negotiate down lower than $11,995. If it's listed for that on the website, it seems as if I should offer less. I'm not very good at buying used cars, I hate negotiating.
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Replying to: themerg (Oct 09, 2008 3:48 am) The buying public is much more sophisticated now than it used to be. It is very very rare that someone walks in and pays MSRP for a vehicle. That went out years and years ago when all the rebates and incentives hit. You can even get the invoice price at any of the car manufacurers web sites. Accurate pricing information is all over the web, books, magazines etc. Edmunds pricing is accurate to the extent it gives you MSRP and invoice prices as do hundreds of other places including the dealers but it is not accurate, as they claim, in showing what people in a given geographical area are really paying. Once again this is evidenced by the numerous people paying below invoice all across the country and you will not find anyplace that Edmunds TMV pricing reflects that. If your just looking for what invoicing pricing is on your vehicle it is ok. But do not trust there claimed "actual buying experience"
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Replying to: marys236 (Oct 12, 2008 2:26 am) |
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Replying to: beeney (Oct 12, 2008 9:38 am) Sure it does. Do you think everyone gets $5000 off a new Sonata, or even gets one below invoice? Heck no. Some buyers do their homework, check prices paid discussions like this one etc., do a lot of research on what deals can be had in their local area and even outside of it, and work and work for the lowest possible price. Others see an ad in the paper for a Sonata for "only" $16,995 and say, "Look, honey, the Sonata is a real nice car and is only $17k, much less than the Accord we looked at last week. Let's go check it out." So they go in and like the car and think $17k is a good deal for a car like that (maybe they paid $20k for their current car a few years ago and it isn't nearly as nice as the Sonata), so they buy a Sonata for right around invoice. Other people don't even get invoice--they think $500 above invoice is a good deal. And then there's those who get well below invoice. The price figures on Edmunds.com reflect an average of what all people are paying for Sonatas--not the best price that can be had on a Sonata.
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Replying to: backy (Oct 12, 2008 9:48 am) Also, beeny, you include rebates as how people pay below invoice, but if you look at the TMV price it is actually computed at first without rebates and then show after rebates are applied. The price people are paying before rebates on average is actually above invoice. Once again, I would say that people posting on this site are the exception to the rule regarding your informed consumer. Although a lot of people may be posting here, there are a heck of a lot more who aren't. - Merg
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Replying to: themerg (Oct 12, 2008 5:14 pm)
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Replying to: moocow1 (Oct 13, 2008 9:33 am) - Merg |
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