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Hatchbacks Hyundai Accent 2007 Hyundai Accent v 2007 Toyota Yaris Lift
442 messages, Last post on Aug 31, 2008 at 8:32 AM
You are in the Hyundai Accent Forum. Your Host is pf_flyer
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Replying to: backy (Dec 16, 2006 7:06 pm) The point of my original post was that dealers give disproportionaly low trade-in values for Hyundais period. Most dealers will not even give the Edmunds trade-in value (evidenced by my neighbor's offer of more than 1K under edmunds' already low value) because, frankly, nobody wants a Hyundai that has no warranty. Ask your dealer, you'll get the same response. Unfortunately, most people must resort to trading in their vehicle at the dealer. Not everyone is as fortunate as you to have a unknowledgable sister you can rip off. The Accent has poor resale. Edmunds, ALG and my own figures point this out. There is nothing to debate. The Accent might have positive attributes, but resale certainly isn't one of them.
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Replying to: backy (Dec 16, 2006 7:13 pm) How about a "better" case senario. 2002 Accent versus 2002 Toyota Echo (both roughly same original TMV) Accent trade-in value: $3000 Echo trade-in value: $5776 Which would you rather trade-in? (I pray I wouldn't own either but that's neither here nor there)
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Replying to: germancarfan1 (Dec 16, 2006 8:15 pm) 2001 Elantra GLS Light brown 45000 miles check options: cruise, keyless entry Outstanding condition See what you get. Due to variations around the country, your zip code will probably return a different answer than mine, but it should be close to $5,173 for private-party sale. At the time I sold the car, 9 months ago, the TMV was around $5900. Yes, my sister, who is a very sharp businesswoman and tough negotiator, thinks I am a very nice guy for selling her a great car at a fair price.  If she didn't want it, I had another offer for $50 more, but I sold it to her because she needed a good car. Now can you knock off the personal attacks and stay on topic, for once??
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Replying to: germancarfan1 (Dec 16, 2006 8:34 pm) 2006 Corolla CE MT, new TMV including $500 rebate: $13,458 Trade-in TMV: $10,783 Depreciation: $2,675 2006 Accent GLS MT, new TMV including $1000 rebate, $11,562 Trade-in TMV: $9,322 Depreciation: $2,240 So the Corolla costs $435 more out of pocket in depreciation after one year than the Accent. As for the ECHO vs. Accent, that is a little more on topic. But you are mistaken as to the original sale prices. I know that back in 2002, Accents were selling for well under $10,000 with discounts and rebates. The list price on the top-of-the-line GL 4-door with A/C, CD stereo, height-adjustable front seat, tachometer, 60/40 rear seat, power steering/brakes, and power windows/locks/mirrors was only $11,049. What was the list price on an ECHO equipped like that, and what kind of discounts and rebates were available? I'll bet the difference in real-world sales prices was at least $2776. That's the main reason the resale value of the Accent is a lot lower than the ECHO's!
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Replying to: backy (Dec 16, 2006 10:20 pm) Who is off topic? |
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Replying to: backy (Dec 16, 2006 10:53 pm)  The reason why resale values are calculated in percentages and not by actual dollars lost is to account for percentage losses in individual's purchasing power. Thus, it is far more detrimental to an owner of a $10K car which loses 25% of its value yet only accounts for $2500 in actual loss than the owner of a $50K car which might lose $5K in depreciation, but only account for 10% of the car's value. That loss of $2500 to the owner of the cheaper car is far worse than the loss of $5000 to the owner of the more expensive automobile. Thus the reason why the 2006 Accent placed #2 on Edmunds Top 10 Worst Resale Values and the Corolla (nor any Toyota model) was no where to be found. BTW, the 2002 ECHO with A/C had a MSRP of $11,685. The main reason the Accent has a lower resale value is because the Accent was rubbish. Resale value measures the value subsequent owners place on the car. Obviously, not many subsequent owners place much value on a poorly constructed Hyundai with zero remaining warranty. Again, don't take my word for it...numerous sources have already stated the painfully obvious...the Accent has poor resale value. There is no reason to debate the undebatable.
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Replying to: joe97 (Dec 16, 2006 4:50 pm) By the way, just in case you haven't figured out yet, that "challenge" I posted was rhetorical. Actually, Hyundai already has a far superior 1600cc engine called "Gamma." The new engine makes 121 hp and is more fuel efficient than the "Alpha" engine. |
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Replying to: germancarfan1 (Dec 16, 2006 11:16 pm) Many times buyers often pay thousands below invoice + thousands below competition = greater purchasing power? So what you are saying, if I may flip the situation another way: owner 1) has 10,000 in savings and owner 2) has 50,000, one gets 10% in interest income, and another gets 5% in interest income, you would tell me the 10% has the greater purchasing power, right? And I would tell you in 36+ years. By the way, your comparison is unrealistic (thus I posted the above ). Edmunds and others use percentages rather than dollar amounts for effective presentation since multiple vehicles are compared across segments. Do you actually think owners of a $10K new car care much about purchasing power in the first place? I don't. Many times the money you saved by paying less than the competition upfront would far makeup for the difference later.
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Replying to: joe97 (Dec 17, 2006 9:46 am) Do you actually think owners of a $10K new car care much about purchasing power in the first place? I don't. Many times the money you saved by paying less than the competition upfront would far makeup for the difference later. You seem confused. Edmunds calculates residual value by evaluating a car's original TMV (which includes all incentives at the time) with the value of the car after 5 years of ownership. You arn't saving any money because those "money savings" in the form of rebates/incentives have already been reflected in the Edmunds TMV. Generally, large incentives/rebates have a negative effect on overall resale value so you really arn't gaining anything in the process (thus the reason why you won't see Honda giving many discounts). Refer to http://www.edmunds.com/reviews/list/top10/115613/article.html The other issue not contemplated by pure empirical resale data is the ability to sell a particular used car in private sale. While Edmunds may provide, for example, that a given seller should be able to make $3,086 from the sale of a 2001 Hyundai Accent, the numbers do not reflect the difficulty in obtaining that sale. Cars such as 5+ year old Accents which wern't exactly in high demand when new, have an even lower demand on the used car market compared with a Toyota Corolla or Honda Civic of the same vintage. Gauging your ability to sell a particular used car is easy from my experience: (1) locate your newspaper classified listings (cars.com) and write down the contact info for the sellers. (2) contact the sellers of the cars a week or 2 after the ad originally appears and ask them if the car was sold and for how much. I did this a few months ago with 8 ads attempting to sell 2000-2002 Hyundai Elantras in my area. Of the 8 cars listed, 5 were sold and 3 remained unsold. However, of the 5 sold, ALL were sold at close to the trade-in value for these respective cars because they could not get even close to the private-sale value. The owners of the 3 that remained unsold informed me that all potential buyers let them know that there was no way they would pay private-sale prices for used Hyundai's with no remaining warranty. I did the same study with 8 owners of Honda Civics of the same vintage in the area. All were sold at or higher than private-sale value with days of the the initial ad. Subsequent ads were not needed. (2 were sold at dealer-list price and those 2 cars were sold literally within hours of placing the ad)
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