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ElantraStan
My friend just purchased a 02 Elantra GT 5-door fully loaded. The car is in excellent condition. Clean inside and out. I test drove it for about 10 minutes. It drives great. The car has 52,000 miles. The dealer wanted $11,995. She talked them down to $9750. With taxes and registration total is $10,439. What are some of the weaknesses of this vehicle? What should she keep an eye on?
Thank you for your time.
Does anyone have further input??? (See Messages #617 and #618.) Please HELP SOON. Thanks!
-John
I'm sorry, but I never bought a new car, so I have no experience on which to base my opinions, but here goes:
If Edmunds TMV for your area is $14,255 for the GT, then go in and offer them $13,500. Heck, offer them $13,000! The worst they could do is say no.
Go with the GT if you can afford it. I wish I could have found a used GT (I love hatchbacks), but they were scarce, so I settled on an '02 GLS. Good luck!
That strategy gives you some room to "move up" to invoice and also provides the possibility that they'll go lower than invoice. They can still make money on a car at or a little below invoice due to holdback and factory-to-dealer incentives.
The other thing I'd do is bring in a check for your offer (w/o tax and license). Put it on the table when you make your offer. It shows them you are serious and will buy the car RIGHT NOW if the price is right. You can always write another check for the full amount with tax and license or arrange financing through them, whichever works best.
Congrats & good luck with it!
-johneh
$14,982 -$2500 rebate and loyalty= $12,492
Is this price ok?
$12482 after rebate and loyalty.
Price ok?
14,982 - 2,500 rebate+loyalty = 12,482
This was at Planet Hyundia in Las Vegas. My salesman was an idiot(didn't put the temp tags on my car, didn't fill up the gas tank, told me the car was there when it was on another lot across town, and he kept disapearing), but thankfully his boss seemed alot more knowledgable about everything.
In terms of the price of the car, I can't really help you there. My wife's Elantra is a 2002, and it was purchased back at the end of 2001. I honestly haven't kept up with the Elantra prices since we bought hers back then - Plus we are in a different part of the country than you. Scan back through some of these other posts, and you should get a pretty good idea of what is a good deal, and what isn't. I can tell you that you should be able to get something off that internet quote. I have never had a dealer quote me their "best" price over e-mail.
I would still be firm on the Edmumds TMV pricing as a guide. The 04's have a $1500 rebate that should help get that pricing down.
I am in New Orleans and have done business with both local Hyundai dealers with no problems.
ElantraStan
I NEVER talk in terms of monthly payments when I am at a dealership. I break the deal down into 3 parts:
1) We first negotiate and agree on the price of the car.
2) Then, we negotiate and agree on the value of the trade-in.
3) Lastly, I will tell the dealer that I have been preapproved for my own financing and the interest rate is X%(6% in your case). I also tell them that they may run my credit and try to beat the interest rate if they want. I have encountered some dealers that just told me up front that they wouldn't be able to beat it, but in other cases, the dealer has been able to beat the rate I walked in with. Also tell them how many months you want to finance for. I take a financial calculator with me that will calculate monthly payments. I like to "check behind" the finance guy to make sure that when he tells me X number of dollars financed for 36 months at X percentage rate is such and such per month. You would be suprised how many people go into dealerships and say they want to pay $300 / month, and never even bother to ask what interest rate they are getting, or how many months they will be paying that $300 - just so long as they get to that $300 / month figure.
My question is I've found a 2003 Elantra GT Hatchback at 19,600 miles, leather interior and moonroof for $11,300. It's very clean inside and out with no visible problems. I'm going to get a history of the vehicle, but first I wanted to know if this seemed like a fair price. In my opinion, it seems like a really good deal. I went to the dealership yesterday and negotiated a price of $15,250 for a brand new 2004 Elantra GT Hatch (same options as above). Does anyone have input on the used and or new prices I've mentioned? Any help would be greatly appreciated.
As for used, $11,300 sounds about right, if it's been well-maintained and is in outstanding condition.
What are the additional options from base that you're looking at? I paid $11,622 for an '04 with eight miles on the odometer, but it was stickshift with no moonroof/abs/anything. On the other hand, the '04 has nicer leather and a Kenwood, among other lesser improvements from the '03. I hope you're looking at an auto, as a stick for $11k+ at 19k doesn't seem like that good a deal. Edmunds lists a silver 03 hatch with auto/sunroof in silver where I am (South Carolina) and that mileage right at $11,373 as dealer retail, so it sounds about right.
There was no surprises at the dealership. 5 minutes in the finance department but had to wait 1 - 1.5 hours for detailing.
Paid 10788+TTL + 50$ doc fee + 28$ inventory fee for a total of 11677$
Good car, good price, good service. Highly recommend.
Yes, the new 04 is an automatic and has all of the available options (moonroof, abs, etc.)
I think I'm leaning towards purchasing the used GT, as it seems a fair price (it also has all available options). I would like to talk the seller down a bit since it's been listed for quite some time. I'm okay with buying the used one because of Hyundai's outstanding warranty.
Thanks again!
Today I bought my first Hyundai, a 2005 Elantra GLS with automatic transmission for $11,287 plus tax and tags. I searched around the internet for quotes, and then eventually called some dealers. The vehicle was purchased from Northeast Hyundai in Philadelphia. I bought from them because they gave me the best deal. I like the 10 year 100,000 mile warranty, because I keep my cars for a very long time. I'm enjoying it so far...
duckied
Has anyone used the services of Consumer Reports?
For $12 they offer info that might not be available for free, such as unadvertised incentives and holdbacks the dealers may have received. If there are any for a particular car, then the dealer paid less than invoice.
They also make recommendations on what options to get and alternative cars to consider.
Most of this appears to duplicate what you can get from edmunds, except the dealer incentives and holdbacks.
Does anyone have experience with this service or an opinion?
--John
Of course, if I could get this info for free from discussions like this one and could know that the source had it right, that would be even better.
Can you (or anyone else) suggest other "discussions like this one"?
You are right--the odds of there being factory-to-dealer incentives on the Elantra GLS 5-door are slim to none right now. I'd save the $12 and use the data you have right here.
There is another way to test for dealer incentives--make an offer a bit below invoice (before the $1250 rebate) and see what the dealer says. There can be incentives just for that dealer (e.g. make a certain sales volume and get a bonus). You can always raise your offer if the dealer says no.
Has anyone used this service? What was your experience? (I probably should post this on a more general discussion board. Of course, I'd be all the more interested if the car was an Elantra.)
And sorry, no, we can't direct you to other boards - kinda defeats our purpose Plus, Google can be a searcher's best friend.
kirstie_h
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I did a search through this discussion board and found that advertising fees have been discussed a couple of times since June 2004, and according to danf1 and backy, this fee is legitimate, if it’s on the factory invoice, and also the amount can vary from region to region.
I was taken aback over the phone and disappointed to learn here that it may be legitimate. How is it that some people on this board are buying new Elantras, for which the fees are only a $50 document fee and a $25 fee for something else?
By the way, I can’t very well check whether the advertising fee is on the factory invoice if I’m so far away, can I? I mean, I could ask them to fax me a copy of the invoice, but is that a reasonable thing to ask for?
I suspect that all I can do is solicit bids from other dealers and see if I’m offered a better deal. Am I missing some options here?
Thanks,
John
that Edmunds gives you on the car, you have got a deal.
Work the on the trade a few bucks, you should be able to get the deal to within a few hundred bucks and then when it gets to a stale mate, split the difference with them and call it a deal!
But be seriuos and ready to by... ready to take delivery and cash, and loan papers helps to.
Be sure to try Captial One for a new car loan. I have used it 5 times to buy cars and nobody ever can beat it.
Hope that helps.
ElantraStan
Funny thing about these advertising charges... they appear to be regional. In shopping at four different Hyundai dealers in my area, and buying two cars from them, an advertising charge came up only once. No other dealer even mentioned it, and it was not mentioned or added to the price of the car on the two cars I purchased.
If I don’t get a better offer elsewhere, I’ll do that. The worst that can happen is that they decline.
“In shopping at four different Hyundai dealers in my area, and buying two cars from them, an advertising charge came up only once.”—backy
There are about 4 dealers in California to the south (depending on how many miles I’m willing to go) and 2 dealers to the north in Nevada. Right now I have a bid from only one dealer. For all I know, the dealers in Nevada may have no advertising fee or only a small one. We shall see.
Thanks, backy.
--John
I missed this statement. Although I never saw any mention of advertising fees on edmunds, I believe you.
When you say 1 to 3%, I’m not sure what that’s 1 to 3% of. But for the sake of calculation, I’ll use the invoice. The invoice for the car I want with the options package and destination charge is $14,793 (not including the claimed ad fee). The dealer says that the advertising fee is $492. 492 is about 3.3% of 14793. So, the ad fee appears to be rather high. 1 to 3% of 14793 is about $148 to $444.
“. . . if can get the price to the TMV that Edmunds gives you on the car, you have got a deal.”—ElantraStan
Edmunds TMV for the car is $15,300. The dealer bid is $14,793 + $492 (ad fee) + $400 (profit margin) = $15,685. So, their bid is $385 over the TMV. Unless they make a lower bid, I plan to go elsewhere.
Thanks, ElantraStan. You guys are great.
I’ll report back when I have several bids.
By the way, I always get Server Error when I try to solicit a bid through hyundaiusa.com. Good thing we have edmunds!
--John
We have a word about advertising fees in our frequently asked questions section.
Our experts (and many members) recommend bargaining for an "out-the-door" price, meaning you want a firm number that includes all fees before you set foot in the finance office. That way, you can avoid surprises, and if the final paperwork doesn't show the agreed price, you know something is amiss.
Definitely keep bargaining. Many Hyundai owners here are very pleased with their vehicles; however, the downside is that they tend not to hold value for re-sale. Overpaying for this car could put you in a negative equity position when it's time to sell.
kirstie_h
Roving Host & Future Vehicles Host
MODERATOR /ADMINISTRATOR
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If they drop the price $194.50 and you eat the $194.50, that's a deal in my book.
Also, get them to throw in a radio with a cd, a cargo net, mud guards, free oil changes.... you get the point.
Best of luck!
ElantraStan
As our host, Kristie, says, I’d be better off talking about the out-the-door total. Also, I think it might be smarter to not talk about how much over invoice, but how much less than TMV instead. I say this because when you take the invoice of the car with options and destination charge, as shown on Edmunds, and add the advertising fee and some additional for the dealer, the total can easily be more than the TMV.
The thing about TMV is that it’s not about invoice or advertising fees or any of that, at least not directly. The TMV is the Edmunds determination of how much people in a given area (zip code) are paying for a given car. If the TMV is accurate, why should I pay more than TMV? In a recent email to a dealer, I said I’d appreciate a bid—not to exceed the TMV, which I provided, along with a link where they could confirm that I’d quoted the TMV correctly.
Of course, a dealer just might not be willing to sell at TMV. And, perhaps if the car I want is scarce (as Elantras with ABS apparently are), they may prefer to bide their time with the expectation of selling the car to someone else for a higher price. However, if they sell the car to me, they can probably get another Elantra GLS 5-door with ABS from Hyundai, if they want one, and sell it to someone else who’s never heard of TMV. (This is consistent with scarcity, since the dealer may be able to get only one such car at a time.) In other words, why pass up an opportunity to sell a car? Unless the dealer has decided that the TMV doesn’t provide an acceptable profit margin—which sounds strange to me, assuming the TMV is accurate.
As for splitting the difference, that’s a good point, even though most of the things you suggest asking them to throw in don’t interest me. (For example, the dealer won’t be changing my oil for free or otherwise, since I live 200 miles away.) Still, a good point; I may need to be more imaginative and flexible.
By the way, the TMV for the car is almost $200 more in southern California than it is in northern Nevada.
I hope I’m not driving everyone crazy with this blow-by-blow account.
Thanks, Christie and ElantraStan.
--John
Last May, the first dealer we contacted tried to dupe us by initially agreeing to good price, but then saying he made a "mistake" and then changed the price $2000 higher. I am 24 and my wife is 23 and we look young. I guess the salesperson also thought we looked naive because he said his "best offer" was $2,000 above when the Edmund's TMV was. I guess he thought we would go ahead and sign the deal out of impatience.
We ended up reaching a deal with another dealer in our area and ended up about $100 less than Edmund's TMV. We braced ourselves for smoke and lies when we met in person, but they were honest and we did the whole transaction quickly at the agreed upon price.
So we came to the conclusion that the first dealer would rather wait and sell less cars at a giant profit for each car whereas the other dealer was willing to move a high volume at straightforward, reasonable, deals. It's just two different strategies I guess.
Often when we see a car bought from the first dealership, we say to each other "they much have gotten ripped off."
I think you'll have less bargaining leverage looking for an ABS equipped Elantra as opposed to the next step down. We started off looking for ABS, but the supply was too small and it seemed like we couldn't get a good deal from anyone, so we ended up shopping for the GT package 7, which is in much greater supply and thus greater dealer-dealer competition to help us get a good price.
My strategy is to go at the end of the month and tell them I'm looking to buy within the next 30 days. Also, I really wanted the GLS as I didn't care about leather seats and fancy wheels but they didn't have one. That alone got them down close to the TMV. I left the dealership to test drive some other cars I was interested in. When I decided on the Elantra I called them back and said that I still preferred the GLS but would take the GT if they dropped the price. Boom - done deal.
Obviously, if I want something that’s scarce, it would help to be flexible. But I’m not. It’s my money and I want what I want. (This is said matter-of-factly.)
I now more fully appreciate Scion’s and Saturn’s approach to pricing and the fact that options like ABS can be readily found.
Question: What am I to make of a dealer’s claim that he can’t necessarily get exactly the car I want, even if I commit to buying it and am willing to wait the 2 to 6 weeks on an order to the factory? To me this makes no sense.
John
I now have two acceptable offers. A dealer in San Jose has the exact car I want on the lot for a price that I consider fair. He’s locked in the price for me, but won’t hold the car past this weekend. The problem is that getting from my remote, rural location to San Jose isn’t feasible until December 17 (a week from today).
The dealer in Reno who says he can get the car from the factory has offered to sell it for $200 below the San Jose dealer’s price. Not surprising since the cost of doing business is lower there. Furthermore, it’s a lot easier for me to get to Reno and back than to San Jose and back. The downside is that (1) I’ll have to wait for the car to come in, (2) I would have to get a smog check, because I’d be buying the car from out-of-state, and now (3) I don’t know whether to believe that Reno can get the exact car.
I’m expecting a call from the Reno dealer in the morning. I want to nail down the exact cost to drive the car off the lot. And of course, I’ll ask him whether he can get the exact car from the factory or can only preference his allotment.
Suggestions, anyone, on what to do or how to handle this?
John
2) How much is a smog check? One thing to ask the dealers is, what is the emissions rating of the car (if you care about such things)? Elantras are offered in two different configurations for the U.S., one with a SULEV rating for CA and other low-emissions states, and one in ULEV. The SULEV version has a little less power (132) than the ULEV version (138). Is it OK for a CA resident to buy a new car that doesn't meet CA's tougher emissions standards from a border state? What happens if the car doesn't pass the smog check?
3) Get everything in writing, including price and delivery timeframe.