Last post on Feb 06, 2006 at 6:12 PM
You are in the Hyundai Sonata
What is this discussion about?
Hyundai Sonata, Honda Accord, Toyota Camry, Ford Fusion, Sedan
#2478 of 2824 Re: Let's Be Fair [thegraduate]
Feb 02, 2006 (2:17 pm)
In order to evaluate a vehicle today, it's important to look at the history. The manufactures whole line up, and the previous models will give you a preview of what to expect on the latest models.
Example: in the Annual Auto Issue, Consumer Reports magazine for 2005, page 87, the Sonata was rated worse-than-average in 2000, average in 2001 and 2002, better-than-average in 2003, and 2004. Then check out the Electra, Accent, Santa Fe, G300, XG350. Same story.
Also, most vehicles will show better than average the first and maybe second year. What will these vehicles look like when they're 3, 4 and 5 years old? You know the answer if it's a Camry?
Now check out the Camry on page 92. Almost spotless reliability since 1997. Check out all other Toyota models. Same story. Better-than-average across the board for years.
Where would you put your thousands and thousands of dollars?
A sure thing, or an up-and-coming, maybe with a spotty history.
I don't even own a Camry. I'm just looking at the facts.
PS. The 2006 report isn't out yet, but I highly recommend it.
#2479 of 2824 Re: Accord [benjaminh]
Feb 02, 2006 (2:23 pm)
The LX SE is not a stripped car? Just add a tranny?
I doubt many reading this board can even drive a stick.
Feb 02, 2006 (2:24 pm)
Another main issue is resale. you'll loose major dollars when you're done with the Sonata. ALG hit's them pretty hard. You can go to Kelly Blue Book or anyother site to check out your potential loss. Is it worth the risk?
#2481 of 2824 Re: Off-Topic [rk2469]
Feb 02, 2006 (2:28 pm)
Where did you get those numbers? The average
household(not per capita) income in my area is less
than 40K. Does this average in Bill Gates and Michael
Dell, and Eliason in with the rest of us? This might
skew it up just a little. Perhaps the median per capita
income might be a better indicator than average.
#2482 of 2824 Re: Resale [travler]
Feb 02, 2006 (2:35 pm)
You will lose major dollars when it comes time to sell any of these cars. They are not an appreciating asset. I fail to understand the risk you are talking about with the Sonata. If you buy a car for thousands less than the alternative, what difference does it make if the resale value is less, as long as the savings up front balance the increased depreciation? What about the increased risk of buying a car with a 3-year bumper-to-bumper warranty and 5-year powertrain warranty vs. one with 5 years and 10 years, respectively? Keep in mind that the probability of failure of a Camry is not zero.
#2483 of 2824 Let's get back to the topics of Autos, not finance or economy.
Feb 02, 2006 (3:27 pm)
Let's quit this mess of economics or finances or whatever and get back to talking about cars vs cars like it topic calls for . It is nice to see all of you intelligent people are here, it's too bad you don't know how to stick to the topics given as a guide for us.
#2484 of 2824 Re: Resale [backy]
Feb 02, 2006 (3:35 pm)
Yup - resale - who cares if you're gonna keep the car 5-6 years. But in that time frame its nice to have the sublime environment of the Honda Accord EX around you to comfort you through the slings and arrows of the long term, daily grind. I'd check out the top end Camry too - sure to be top shelf - except for the big ole blob in the middle of the grill. Whats's up with that?
#2485 of 2824 Re: Accord [benjaminh]
Feb 02, 2006 (3:49 pm)
I have the standard EX, it comes without Leather. It is an option, hence the "EX-L."
#2486 of 2824 Re: Let's Be Fair [travler]
Feb 02, 2006 (4:36 pm)
As a 2006 Hyundai Elantra owner - who will also purchase a new Sonata in the next 12 months - I recently calculated the depreciation differential between an Elantra GLS and a Civic LX. I normally keep a car for at least 10 years. At the 5 year level, the Civic had a +$2K differential on the retail value over the Elantra. But, this doesn't factor in the initial positive cash flow differential gained by buying the Elantra at a price substantially below its MSRP due to rebates, dealer incentives, etc. At the 10 year level, there is no difference in retail value between an Elantra or Civic.
Thus, if one keeps a car for 8 to 10 years, resale value differentials are really a moot point. However, I also submit Hyundai's historically poor resale value is improving with each new model release, and eventually "may" even approach the levels of Honda and Toyota. Time will tell . . .
#2487 of 2824 Re: Let's Be Fair [w9cw]
Feb 02, 2006 (4:49 pm)
However, I also submit Hyundai's historically poor resale value is improving with each new model release, and eventually "may" even approach the levels of Honda and Toyota. Time will tell . .
This is very likely but it doesnt happen in a vacuum. The reason it happens is that the original transaction price must start to come up higher. Here is the dynamic one has to consider.
For arguments sake consider both a Sonata and an Accord, similarly equipped but one sells new for $20000 and the other for $17000. The USED Car retail price has to show some discount in both cases. If a 3 y.o. model of each is available would you pay $14000 for the Accord if a new one was going for $20000 or would you pay $14000 for the Sonata if a new one was going for $17000? You'd probably want a bigger discount on the 3 y.o. Sonata to reflect the same $6000 discount.
Until the original transaction price comes up the resale price cant come up. The former is the cause of the latter.
Yes in 10 yrs both are going to be worth about $1500 and I agree that the resale discussion is moot.