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Prices Paid: Buying & Leasing Experiences Hyundai Sonata Prices Paid and Buying Experience
6610 messages, Last post on Dec 03, 2009 at 8:47 PM
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I've been checking on Fitzmall over the past few months, is it my imagination or did the prices go up on the 09? Second question is does anyone know how to find which dealers are doing clunkers already? I saw a press release that Hundai was advancing money to dealers but I've emailed a few and none seem to know about it. Thanks!
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Replying to: hum3 (Jul 10, 2009 7:55 am) 1) Prices have gone up substantially on the 2009 Hyundai Sonata, both through reduced incentives, and a base increase in price. The incentives the last year or so, off and on, were as high as $5,000, without special rebates such as college grad or military; now, they're $3,000. That's a huge increase in the price of the car right there. 2) Sonata sales are down significantly (about 37%) versus the same month last year, and I can't help but think it's because of the lower incentives, despite the freshening of the interior. When comparing the Altima, new Mazda6 and Sonata, the Altima and Mazda6 are only incrementally more expensive when fitted with the same equipment as the Sonata, and when I say incrementally, I'm talking less than a grand. I predict much larger Sonata incentives in the future, and I had a salesman in Virginia tell me that the Sonata inventories are building rapidly.
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Replying to: mikemartin (Jul 10, 2009 8:00 am)
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Replying to: hum3 (Jul 10, 2009 8:15 am) If you look at a base GLS or one with the premium package (comfort package?), that essentially taking real prices from about $13k-$14k to $15k-$16k at the low cost, high volume dealers. Like I said, Hyundai is ever so close to Mazda6 and Altima pricing.
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Replying to: mikemartin (Jul 10, 2009 8:25 am) |
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Replying to: newowner10 (Jul 10, 2009 8:35 am) That's an interesting theory. Maybe it's ridiculous, too. Supply & demand rules all. Honda Accords retain more value than just about any car because they are in demand as used vehicles. Same is true for Lexus RX350s and Acura TLs. If car makers could simply improve residual values by increasing prices, they'd all be doing it, and they're not.
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Replying to: mikemartin (Jul 10, 2009 8:52 am) Mike is right in that the circumstances that dictate resale value have nothing to do with the price of a car at initial sale. Hyundais, while in my opinion are great cars for the price, are still looked at with a suspicious eye, whereas Honda and Toyota are able to ride their reputations. This is why Hondas and Toyotas are in demand as used cars, while other cars like the Ford Taurus (for example) are not. For me, it comes down to the fact that Hyundais are, in my opinion, great buys for the money. Furthermore, since I’m the type of person who buys a car, keeps it for 200,000 miles/10 years, resale is not an issue for me. If I planned on selling my 09 Sonata in 4-5 years, I would have to face the fact that they do not hold a lot of value. But, again, for me it’s a non-issue – I plan on keeping mine until it dies. Look, we all need to recognize that the whole issue regarding sale price and resale value is all relative. Everything in the world is only worth what someone is willing to pay for it. For me, a 2009 Hyundai Sonata was worth $14,500. That’s what I paid. However, that same Sonata is not worth $20,000 to me, and I would never pay that much for that car. A Picasso painting may be worth $1,000,000 to someone, but because I’m not a millionaire, the idea of spending the rest of my life paying for one painting is not my cup of tea. But, I’m sure there are many people in this world who would pay $1,000,000 for it. The important thing to ask yourself before you buy ANY car is: “How long am I going to keep it?” If the answer is “Until it dies / 10+ years”, then don’t worry about resale vale. Most cars are worth dirt after 10 years anyway. (Please don’t flame me with “Dude! Not true! I sold my 15 year old Acura for $2,000”. I assure you, you’re in the extreme minority.) The bottom line when buying a car is: 1) Can you afford it? 2) Does it fill your needs? 3) Do you plan on selling the car?
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Perfectly said...any article is only worth what someone will pay for it and how much value they assign to it. Tried the '09 Sonata last weekend and was very impressed. I had just driven 5 Volvo S40's and thought the Sonata was a more comfortable car actually. Have decided to keep my '06 Civic for the moment and beside the seat issue, it's a great car. Did I pay more for it than a Corolla...a bit more but I saw value in the Civic and did it willingly. Paid only a bit less than my wife's '05 Mazda 3s but Honda's still command a premium as I found out. The M3s is a great car...for the wife, but I still prefer the Civic...and will live with the front seat issue. The Sandman  
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Since reading this board was very helpful thought I would share my buying experience the last few days. I don't consider myself very experienced in buying cars. I just don't buy cars often enough to keep in practice, I know enough to keep it away from msrp, but not enough to get those "wow..thats a great deal" posts. This is fine, I keep my cars until they can't go no more..literally, my old 99 dodge intrepid sits in my driveway as it died a few blocks from the house and got pushed back. This is in Lafayette, LA with Sterling Hyundai which have been great to work with. Demo Car with 14,000 miles 2009 Sonata SE V6 (msrp hard to gauge as no window sticker, but comparable vehicle was little over 25k and it had bluetooth...this car is the same, minus bluetooth, so 24700 ish msrp) Negotiated price of 20705 -3000 incentive -3500 clunker trade in (old 96 lincoln towncar..barely worth 800, but was insured and legal and was my replacement for the dead intrepid) OTD pricing is 15592 financed at 5.3% for 5 years They did have stock GLS with very little options (no preferred packages) that were OTD of 13800 (ish). (reminder to add 3500 if you don't have a clunker) Overall, very pleasant dealership and I think I got a decent deal..both sides could walk away happy. Hindsight, yeah..maybe could have worked the mileage a bit more to bring it down to 15000 to 15300. Other dealerships in Louisiana were not coming close to this pricing. Another dealer was at 16,000 without TTL (local tax is 8 to 9 percent) on a comparable demo car, but that was about it. My wife is a bit freakish about getting a hyundai, she wanted to get a toyota (I had bought her a sienna last year). However, I'm confident she will come around. I hope this helps someone in looking for their Sonata. |
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