Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





2013 and Earlier - Hyundai Sonata Prices Paid and Buying Experience

1274275277279280289

Comments

  • saz25saz25 Posts: 152
    Hi,
    The price difference is not necessarily due the area. I negotiated car deals for family and friends 3 times in the last 3 months in NH, MA, and FL. Always getting excellent deals.

    1) I never let the sales rep give me a price. I research prices and tell them this is how much I want to pay.

    2) I make them aware that I'm looking at many dealers and will buy only if they can meet my price.

    3) I do this during the last week of the month. This puts the buyer in a position of greatest leverage.

    4) By pricing lower than the sales rep is allowed to deal by himself, you force the sales rep to get his management into the process.

    5) I don't mix the test drive process with the negotiation process. I may visit several dealers of several makes before I decide what make/model I want. I then call on the phone and tell them what model and options I want and what I would pay. I rarely go above when I determine is the price to pay. Works 99% of the time.

    There were no problems with phone-pairing.
    Good luck.
    Steve
  • HI sunnymoney!

    How did you talk them down to include everything out the door? What was your strategy?

    Im hoping to get the same in shimmering white, hopefully at same price. ;)

    This will be my first time buying a car so i am extremely nervous!!! This forum has been a major eye opener for me.

    thanks for the support
  • I like your strategy..... seems less stressful with less hassel
  • ekg2ekg2 Posts: 6
    "I paid negotiated a price of exactly $25,000 plus tax, title, etc. And no doc fee. It was a very agressive price but i was firm in what i would pay. It was significantly less than invoice. The Sonata is a very high margin car for dealers. With agressive negotiating you can get low prices."


    Steve, do you think you know about how much profit the dealer actually made on this?
  • saz25saz25 Posts: 152
    You ask how much profit do I think they made? My guess approx. $300.

    But actually I don't really care. Why should a buyer ever care how much profit they make? I want to get the best deal I can.

    The dealers job is to charge as much as the market will bare. That's our free enterprise system.

    I'm curious. Why do you ask?

    Steve
  • ekg2ekg2 Posts: 6
    I guess a better question would be how you arrived at $25,000 as your bottom line. I always offer what I think will be about a $500 profit, but I never really know. It sounds like you agree that you'll never know what the actual profit will be and that you should just go in with an educated guess about what you want to pay and if it's a good guess and you contact enough dealers, you'll find one who will agree to your price.
  • saz25saz25 Posts: 152
    Hi,
    Its really very simple. I calculate (from Edmunds) the MSRP and invoice price of the total package I'm looking at. Then I subtract 3% (hold-back on a Hyundai) of the total MSRP. Then if there are incentives in place, I subtract all of them. If not I subtract approx. $1500. Even if you don't qualify, it doesn't matter. Factor into your quote. I then round it to a nice clean number. I never tell the sales people how I arrived at the quote. If you do, they will lie to you and say that you have the wrong invoice or that they no longer have hold-backs.

    So here are my numbers:
    Total MSRP: $29,765
    Total Invoice: $27,781
    Hold-back: $892.95
    Total incentives currently in place: $2000

    $27,781
    -$892.95
    -$2000
    ------------
    $24,888.05 (so I rounded to $25,000 even)

    I used this same process buying a 2013 Lexus RX350 in MA and a 2013 Toyota Prius IV in NH; all in the last 3 months.

    I could have gotten the above Sonata at the $25,000 price from 2 Florida dealers. After calling 5 dealers, 2 agreed to my price. Two others came close, like within $500 or so. Also, I insisted and paid no Doc fee, as I made the clear upfront when made my quotes.

    Good luck.
    Steve
    P.S.: I really like buying cars. Its cool to see them wiggle and get management involved in order to deal with me.
  • brian125brian125 New york / S.C. myrtle beachPosts: 2,739
    edited October 2012
    Steve
    Your Clever like a Fox. Everybody should buy like us. I;d like to make one point. This system works 95.%.. Supply and demand do play a big part in the car buying game so sometimes you have to be patient and wait out the hot new models a Few months or you will pay the extra dough. My buying tech are alot like Saz [ steve] but i'll tell you this... Try buying a BMW or Mercedes,Range Rover etc hard to get below invoice. I never have in 30 yrs. Buying a American car, Hyundia ,Kia , Nissans and Toyotas have always been great for 1 to 2 k below Invoice Pricing.Its like taking candy out of the store. Good luck... Hyundia Sonatas are there for the taken ............ PLAY THE GAME.....................

    2013 Genesis 5.0 R-spec, 2013 Accord EXL V-6, 2012 BMW x-5, 2012 ML350

  • saz25saz25 Posts: 152
    Brian,
    Yes you are correct. When I bought my Corvette, I certainly didn't get as good a deal as I get when I buy a much larger volume car.

    Steve
  • Thanks for the help Brian!
    MSRP 28,110 (hybrid with leather trim)
    Purchasing for 24,700 and also getting the 1,000 rebate and a decent value for my trade
  • What works for me is I call and ask to speak to the fleet dealer. I tell him or her that I am ready to buy today and what I want. If the fleet dealer is willing to sell to you it is the lowest price. I was quoted 22159 for a Sonata Limited w/o navigation, but with floor mats mud guards etc. The car and paper work were ready when I got to the dealership. The process took about one hour including instructions on the car features. Of course I did plenty of research and took a test drive before making the call.
  • Hi Steve,
    I am interested to purchase a Sonata Gls model. I don't really need any package except floor mat, cargo mat and tinted window. I checked edmund invocie price without tinted window is $21036. MSRP $21965. Dealer quoted me $19984 (include finance incentive of $1000)before tax & title, with tinted window. Is this a good price? If I use your formula, then....

    invoce : 21036.00
    hold back : -892.95
    incentive : -2000.00

    final price : 18143.05, Can I really get this price? How much does tinted window cost?
  • jf2012jf2012 Posts: 2
    Just Paid $ 20,000 OTD for a 2013 Hyundai Sonota GLS with GLS popular Equipment Package, Floor mats, Cargo Net, Mud guards, and Auto-Dimming Rearview Mirror with HomeLink@ and Compass.

    MSRP $ 22,895

    Is this a good deal? I am in Pittsburgh, PA
  • jlindhjlindh Posts: 282
    Does that include taxes and fees? If not, how did you make it out the door without paying them???
  • jf2012jf2012 Posts: 2
    Yes. The taxes and documentation fees and included.

    MSRP $ 22,895 (base+package)
    - $1,500 incentive
    - ~ 2895 discount
    ------------------------------------
    Price ~ $18500

    + Taxes+fees

    -----------------------------------
    Final $20,000
  • brian125brian125 New york / S.C. myrtle beachPosts: 2,739
    Good job jjc. Dont you feel alot better now , look at the great price you nailed down.. enjoy your car...................Brian

    2013 Genesis 5.0 R-spec, 2013 Accord EXL V-6, 2012 BMW x-5, 2012 ML350

  • brian125brian125 New york / S.C. myrtle beachPosts: 2,739
    edited October 2012
    HI 99, I seen your post The Dealer Holdback on all Hyundias are 3% of total MSRP.. Your Holdback is $658.95 on that model. that being said
    Invoice= 21,036
    hold/B=.. 658.
    Total.....= $20,378 this price is Invoice and getting the whole dealers hold back.
    from this point is how good you can Negotiate. Try not to pay any Doc fee's. Tell all Dealers its a deal breaker. Make sure you get the dealer you buy from to minus that 1000 incentive off the total invoice..Check Prior Posts on the Sonata"s. They have been selling for big numbers below Invoice Price... lastly check this Edmunds board,,, see who purchased within a 200 mile area where you live. See who recieved a good deal and call that Dealers internet manager on the phone. Make sure every dealer knows that if he meets your price of...xxx you will buy the car that moment with a Refundable Credit Card deposit till your car is ready for pick up. If you have a fax machine make him fax you over the Buyers Order with all the details of said vehicle and price. All you do then is sign it,,,, fax it back to dealer and in return he will fax back with his signature and your done.. Window tint can be done at a good detail shop so dont stress about letting dealer do it.. Call your 1st 10 Dealers on phone and apply what STEVE HAS HIT ON AND I HAVE SAID....... This way to buy a Vehicle is Fast and Easy........................................... Good luck....................Brian

    2013 Genesis 5.0 R-spec, 2013 Accord EXL V-6, 2012 BMW x-5, 2012 ML350

  • brian125brian125 New york / S.C. myrtle beachPosts: 2,739
    edited October 2012
    One other point on Doc Fee"s...Sometimes dealers will not reduce or remove there doc fee's. when i buy a vehicle if a said dealer does not take off or reduce those fee"s. I apply them to my below Invoice price.. Example If my target price is 1k below invoice and dealer wont take off the $299 doc fee then that dealer has to sell me his car for $1299 below invoice. Play the Game .

    2013 Genesis 5.0 R-spec, 2013 Accord EXL V-6, 2012 BMW x-5, 2012 ML350

  • jlindhjlindh Posts: 282
    Excellent deal!
  • Hi Barclayn!

    Sorry for the delay, but what the other Steve is advising for the minus holdback which is like 800 off a 30k msrp and 1500-2000 below invoice I tried at 8 different dealers in NH and MA and didnt work for the 2013 sonata limited with tech. I got 27100 OTD before rebates so 2900 of sticker price and 1600 under invoice including the doc fee. I walked out of two dealers. They will rarely knock on the hold back just got atleast 1500 below invoice before rebates and tell them you dont qualify for any rebates so they dont work it into the price or try to atleast.

    Call around and take notes on every single dealer 100 miles radius around you, go to the top 2 or 3 you want to give your money to and start making serious offers. DO NOT BUY ANY EXTENDED WARRANTIES... I used to sell them they are garbage and I read an article here on Edmunds by a Finance Manager who sells them at dealerships saying they were complete rip offs and the dealership makes huge money on them.

    Thanks and have a great day! I love my 2013 Sonata and have gotten so many compliments!
  • ffxjackffxjack Posts: 47
    Just wondering why extended warranties are garbage? I know for Honda, you can buy online for much cheaper but it's the same Honda extended warranty.
  • ffxjackffxjack Posts: 47
    Where do you find the dealer hold back and incentive info?
  • brian125brian125 New york / S.C. myrtle beachPosts: 2,739
    edited October 2012
    Should also be on the Edmunds home page.

    2013 Genesis 5.0 R-spec, 2013 Accord EXL V-6, 2012 BMW x-5, 2012 ML350

  • saz25saz25 Posts: 152
    Hold backs
    http://www.edmunds.com/car-buying/dealer-holdback/

    Incentives also show up when you price the car on edmunds.com and kbb.com

    Steve
  • ffxjackffxjack Posts: 47
    Thanks. Interesting since the Edmunds explanation on hold backs tell people that many dealers are unwilling to negotiate their hold back.
  • saz25saz25 Posts: 152
    "Thanks. Interesting since the Edmunds explanation on hold backs tell people that many dealers are unwilling to negotiate their hold back"

    That's the trick. You never mention holdbacks to them during your negotiation. You just tell them your price. No need to tell them how you arrived at that number. Once you start to give them too much information, the process goes against you from there.

    I even avoid all the small talk about how many miles I drive each year, how many kids I have, what kind of driving I do, city vs. highway, what I do for a living, etc. Its a cash sale, so they shouldn't care (or need to know) about anything except the price.

    Remember, these people are not your friends. They are adversaries in the negotiation process. Its strictly business at that point.

    Steve
  • steven39steven39 Posts: 636
    the difference between these two cars is this.the honda will get better resale value while the sonata will have way more features for the money including a better warranty.if you plan on keeping the car for atleast 5 years,the sonata is the way to go....
  • steven39steven39 Posts: 636
    what was your final negotiated price before TTT??
  • LASHAWNLASHAWN Posts: 303
    I know this strategy worked well for you on the purchase of a Sonata because this car is in high demand. I'm looking at purchasing a 3.8l Genesis Sedan loaded with Prem/Tech packages. Do ou think this would work on that car that's not in high demand like the Sonata? Looking to buy end of Nov. maybe Dec.
  • brian125brian125 New york / S.C. myrtle beachPosts: 2,739
    Lashawn, I am Looking to buy a 2013 Hyundia Genesis, V6 with all the Toys, or the new 2013 Honda Accord, V6... EXL. The style is very similar, size, and the features are pretty close. My thoughts are if i opt for the Accord i will save about 12k. when i compare them side to side on edmunds they are pretty close in size, horsepower , V6 only, and tech features. Gas mpg better on Accord. The Genesis will be redesigned for 2014 with a 10 speed trans and i would think more updated Tech features. I dont want to wait till next Nov, 2014 . I plan to buy either car in Jan 2013. I have not decided yet. Price wise here in New york/ New jersey Invoice price on the Accord is do able right now. I would say by Jan 2013 I could buy for 500 below invoice. That is my target price on the Accord. The 2013 Hyundia Genesis Pricing will be determined by Supply and Demand. My target price on the Genesis will be starting at 1000 below Dealers Invoice price and No dealerships Doc Fee's added on to sale. I will work my below invoice number up to no more than 500 below invoice. Thats where my bottom line price to buy this car stands.. As you get older and wiser you look to get the best bang for your buck. The Hyundia Genesis is one of the best bangs for the buck out there. I own a 2012 Bmw, X5 and this one is my last high end vehicle. There are many good vehicles being built now under 45k.............. Good luck

    2013 Genesis 5.0 R-spec, 2013 Accord EXL V-6, 2012 BMW x-5, 2012 ML350

Sign In or Register to comment.