Last post on May 18, 2013 at 10:49 AM
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Hyundai Sonata, Sedan
#8293 of 8851 Question about balloon financing - Texas
May 20, 2012 (5:53 am)
I am getting a quote of $19,584 + TTL (without any incentives, dealer price) for
2012 Sonata GLS automatic in Austin, Texas.
Currently there is a $1500 balloon finance rebate. Together with $500 Motozuma,
this seems to be a great price ($2000 in rebates).
I am planning to do a full cash purchase but wanted to check for your experiences with balloon note financing in Texas.
Hyundai Texas Balloon Program: No acquisition fee, No personal property tax, No early termination fee and No pre-payment penalty.
If there is no pre-payment penalty and no early termination fee, then isn't it better for all cash buyers to go through the balloon finance route? Agreed, you pay the first month's payment, but the $1500 rebate is too good to be true for all cash buyers. I use the cash to pay off the balloon note after the first month and end up with close to extra $1200 rebate (~ $325 monthly payment).
Can anyone who has done balloon note financing tell me if I am missing anything here?
I am having a hard time convincing myself if the above arguments are true (it sounds too good to be true, so there must be some catch, right). For users who have bought using cash, has anyone considered the above option? Any pitfalls in this?
I would really appreciate any feedback from forum members about balloon financing. I am planning to buy within the next week and would like to make sure I have covered all angles before going in to the dealer again.
#8294 of 8851 Re: 2012 Sonata Limited with NAV - Los Angeles [vhdonuts]
May 20, 2012 (5:00 pm)
That's an awesome deal!
I am also looking at buying a Limited but with NAV.
Can you please mention which dealer gave you that price in LA?
I am from LA too and looking out for the best deal.
#8295 of 8851 Re: Question about balloon financing - Texas [bkthandri]
May 21, 2012 (6:53 pm)
I did the Hyundai balloon deal on a Santa Fe back in 2007. No catch, refinanced it a month later and all was good. An easy way to save another couple grand, with my only "cost" being the time spent refinancing.
#8296 of 8851 2012 Sonata GLS w/ PEP
May 23, 2012 (8:40 pm)
Just got 2012 GLS w/ PEP, floor mats, mud guards, cargo net, bumper applique.
Price (w/ dest) = 19,350
Financing rebate = - 500
VA tax = 640
Tags = 63
Doc fee = 562
OTD = 20,615. 0.9% APR x 48 mos.
Got price without haggling through their internet instant quote. Another local dealer (Fitzmall) had similar price w/ cheaper doc fee, but this dealer offers free oil changes for life and free VA state inspections. I live close by and this alone is worth at least $100/yr.
Fairfax Hyundai in VA.
#8297 of 8851 Soanta Lease 2013
May 27, 2012 (4:57 am)
Went for an elantra and lease a sonata. 2500 in rebates and less than elantra Got 3 year lease 15,000 per year. Price 229 a month. Is this a good deal?
Residual is 13100. Dealer feels over miles will not be a problem since residual is high for trade-in. Is this true? I believe we would end lead 5- 7000 miles over. He said to trade in before 45000. Anyone have any experience?
#8298 of 8851 Re: Please help with determining good deal [jsf7]
May 27, 2012 (5:59 am)
Working on a deal for the exact same vehicle only with tan leather.
Had 2 dealers working on a quote. Final deal came to $25,750 after the $500 "competitors" discount (expires on May 31). That's $4,300 off of sticker which I think is a really good deal but, if they're willing to sell me the car for that amount, they're making a profit so who knows if i could have gotten them down a little lower?? Heck, I was looking to get a leftover 2012 Ltd. for $24,250 but they couldn't find me one at this late date so, for only $1,500 more, I'm getting a 2013 with nav & back-up camera rather than a "1 year old" one. As long as the car performs as good as it looks, I'll be a happy camper.
#8299 of 8851 2013 Sonata GLS-AT With PEP
May 27, 2012 (8:44 am)
Bought new 2013 Hyundai Sonata GLS - Auto Transmission With premium equipment package
Color - Sparkling Ruby Red
This is my first car. So I was not given any loyalty discount.
Invoice - 20,250 (incl destination fee, floor mats, mud guards, cargo mat, cargo net and all wether floor Mats)
Dealer fee - 899
New tag fee - 450
State tax - 1350
Final OTD - $ 22,900
Location: Doral, FL.
#8300 of 8851 Re: Please help with determining good deal [piezon]
May 27, 2012 (2:55 pm)
What state are you in, and what dealer please?
#8301 of 8851 2012 Limited with nav
May 29, 2012 (11:45 am)
Thanks to all who posted in this forum about their buying experiences. Really helped me determine if im getting good deal or not.
Just bought 2012 Limited 2.4L with Nav.
25,159 + doc + taxes + registration/plates etc (including 1000 rebates) with 0% for 36 months.
Did i get a good deal?
#8302 of 8851 Re: 2012 Limited with nav [2012sonata]
May 29, 2012 (3:45 pm)
Sounds pretty good to me. I just paid $25, 750 for the 2013 Limited 2.4 with the Nav/panoramic roof option. I think paying only $600 more for a 2013 was a pretty good deal as well.