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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
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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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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Sorry if this isn't the right area to post. I'm looking at a 2009 Sonata GLS base model. I know Hyundai is offering 3000 cash back right now, but I'm confused about the price of the vehicle now. I figured the cash back was merely money they are giving you off of MSRP. But, this page on edmunds seems to indicate you can take of off of the negotiated sales price? As a simple example, say the dealer MSRP is $22,000. I negotiate a sales price of $17,000. Does the $3000 cash back now make the price of the vehicle $14,000? Sorry for the novice question, but I'm confused how this works and I don't want to overpay for the Sonata! Many thanks in advance!
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Replying to: sgtgz (Jul 11, 2009 8:09 am) |
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Replying to: mikemartin (Jul 10, 2009 8:52 am) A 2009 Sonata sells for 22K msrp. After rebates I can get it for 18K dealer take 2K more off.. I am looking at a used car 2008 Sonata (assume that the car/model did not change .in 2009. If I can get a new Sonata for 16K the 2008 could not be worth more than 14K (most likely 12K).(New-4K) Now if the 2010 Sonata sells for 23000 with no rebates avalible and the dealer will not take any money off the difference between the 2009 and the 2010 version is 7K therfore the 2009 is worth more compared to the 2010 model. New car 23K used car 19K (new-4K) |
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Replying to: james1982 (Jul 10, 2009 10:41 am) My price is 14800 otd, in MD this is about 13000 base price plus 3500 clunker = 16500 . The salesman's price now is about 2600 more than my friends, 500 is the rebate difference, 500 is for the PEP, he says the car now costs 800 more from the factory, and 800 is unexplained. Could be my friend just got a good deal(but the car had to be brought from another dealer so it wasnt like it was sitting for a while) , but could also be because this is a clunker deal and the salesman is trying to recoup some of that. (When comparing the numbers I took into account the clunker aspect) Any thoughts are appreciated. |
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