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2009-2010 Hyundai Sonata

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Comments

  • backybacky Twin CitiesPosts: 18,686
    Hyundai is following a 12-month cycle with the Sonata but it's offset from the "normal" fall cycle because the 2006 Sonata debuted in the U.S. in early 2005. So it seems Hyundai is sticking to releasing the next MY Sonatas early each year. The 2008s were available as early as May 2007 I recall, as I rented one then and was surprised it was a 2008.
  • Need opinion.
    Is it better to buy a 2008 with huge discounts or wait till the 2009 comes out and buy it with not so big discounts?
  • m6userm6user Posts: 2,954
    From a strictly financial point of view and IMO, if you can get the 08 for about 3,000 less than the 09 you should come out about even in the long run. The longer you keep the car the less difference it makes. How much a car 9 years old vs. 10 yrs old is going to worth comes down to it's condition/mileage rather than what MY it is at that point.

    Consideration: Does the 09 have changes that you would really like to have. Such as the 09 Sonata redesigned interior and HP/mileage increase. Personally, I think these things are quite alluring so I would probably want at least a 3000 better deal on the 08.
  • I personally chose the 08 with the discount, but that was before learning when the 09's were coming out.
    Paid $20,660 + TTL for a new 08 V6 Limited with Sunroof, floor mats and cargo net. That's $5200 off MSRP.
    That was 2 weeks ago, then a couple of days later I learned that the 09's are coming out soon later this month. However, I am happy with my 08, and just by looking at Fitzmall's prices on the 09's I can tell that I made a good decision.

    However, I do love the new interior!
  • jaxs1jaxs1 Posts: 2,697
    I didn't say they wouldn't be discounts and rebates on the 2009s later, but a refreshed design won't be discounted as much as a car that is about to be replaced by something nicer. When a replacement or updated model is out or about to come out, the older versions are pushed harder with what ever it takes to make room for the next model year.
    The dealers probably can't get more of the more attractive 2009s until they sell out their left over 2007s and 2008s.
  • bhmr59bhmr59 Posts: 1,598
    If the '09s come out in May that would tie-in with the approx 12 months cycle. The current generation came out in May or June of '05 as an '06 model...nothing new or earth shattering in the auto world.

    However, if the '09s come out within the next month, as some have said, our '07 (not quite a year old) will be 2 model years old in 13 months. We didn't exactly buy it at the end of the model year.

    Moving the intro date up by 3 months is a bit much. (Both our Sonatas, '05 & '07 have been fantastic.)
  • bhmr59bhmr59 Posts: 1,598
    I think you would see that $3,000 difference in new purchase price (it could be more) greatly narrowed in about 5 or 6 years, not 9 or 10 years.

    As you said, once a car gets a certain number of years old, condition & milage are much more important than the model year. I think that time frame is more like 5 or 6 years while you are projecting a longer time frame.

    Who knows, just a different opinion from an insurance agent who has seen values set for cars damaged in accidents.
  • m6userm6user Posts: 2,954
    As you said it would be "greatly narrowed" within the 5-6 time frame to which I agree. However, my comment was more to the "virtually no price difference" once they get to the 9-10 years old mark with condition being similar. They aren't worth much at the 6 yr mark and a lot less at the 9-10 year mark so it doesn't really matter at that point I guess.
  • stephen987stephen987 Posts: 1,994
    In my neck of the woods, there are still quite a few unsold '07 Sonatas on the lot, not to mention the '08s. With an '09 coming in a few weeks, and local dealers facing the prospect of a two-year-old brand new car on the lot, the crunch is coming. I wonder if this will force dealers out of business in smaller markets like mine. The local Kia dealer also has far more '07s than '08s on the lot.
  • seems like you can get a decent deal once '09 release for the '08 sonata. It would be sweet if i can get 08' sonata /Auto for less than $14K or even 13K!!
  • jaxs1jaxs1 Posts: 2,697
    They just need to deal on the 2007s and 2008s and people will buy them. I'm sure with rebates a 2007 or 2008 will be quite a bit cheaper than a 2009.
    Many people shop purely on price and will live with the old style dashboard and live without AUX and USB to save money vs buying a 2009.
  • backybacky Twin CitiesPosts: 18,686
    Well, what you said was that there is no reason to expect that the updated 2009s will be discounted to the level they are now until the 2010s are on the way at the earliest, or maybe not until the next replacement for the Sonata is ready to be released a year or two after that. I think we'll see big discounts and rebates much earleir, for the reasons I mentioned, based on current market and economic conditions and HMA's history with rebates on the Sonata.
  • backybacky Twin CitiesPosts: 18,686
    The 2008 Kias, particularly the Optimas, were introduced pretty recently, so I'm not surprised you are seeing more 2007s than 2008s there.

    How many 2007 Sonatas is "quite a few"? I haven't seen any at my local dealer or advertised in my metro area (Twin Cities) for a many weeks.
  • I just found on the newspaper that they are selling 08 Sonata SE for $14,888, i am not sure is Auto or Manual, but it is great discount!!
  • Being an SE, I think they are only auto, but not sure. Are these NEW, or perhaps rental or lease returns? If so, they probably have close to 25,000 miles on them. They would have the remainder of the 5/60 warranty, but the 10/100,000 warranty is not transferrable. That alone could be a big difference in pricing. :confuse:
  • Is that any real difference between 2007 & 2008 sonata?
  • bhmr59bhmr59 Posts: 1,598
    For '08 MY, the SE is either a 4 cyl with M/T or V6 with A/T. Can't get a 4 cyl A/T in the SE, but A/T is available in the 4 cyl GLS or Limited.
  • I have checked it and it is NEW car~~
  • backybacky Twin CitiesPosts: 18,686
    Besides the extra one year? Not a lot, for the 2007s made later in the model year. Those got the updates like more audio controls on the wheel and XM radio, which carried forward to 2008. There were some packaging changes for 2008 too, e.g. the SE and Limited being available with an I4, and I think some equipment changes on some trims, e.g. the SE got a telescopic wheel, but for 2007 I think only the Limited had a telescopic wheel. Also more standard equipment on the Limited for 2008, just about everything standard except moonroof (which is standard for 2009, fwiw).
  • jaxs1jaxs1 Posts: 2,697
    Sounds like those bait and switch ads in the paper all the time. They always say the ones in the ad have already been sold.
    If you look at most car dealer newspaper ads, they usually have some amazing discount special in the paper that you can never get when you go there.
  • stephen987stephen987 Posts: 1,994
    When I was on the lot last (a couple of weeks ago), there were only about four '08s, but seven or eight '07s. This is in central Georgia, in case you're curious.
  • backybacky Twin CitiesPosts: 18,686
    Must be a small dealer--usually there's a few dozen Sonatas on the lot of the dealer closest to me.
  • stephen987stephen987 Posts: 1,994
    Yes, ours is a small dealer. Total new inventory is maybe 60 vehicles, plus about 100 used. It used to be one dealership with Chrysler/Dodge/Jeep, Hyundai, and Mazda, but they spun the Hyundai operation off to a separate site. They've got about ten each of Elantras and Accents, a handful of Santa Fes, not many choices at all. The last time I was there, they had nothing but automatics, even in the Accent.

    There's another Hyundai dealer maybe 25 miles down the road, and I think it's even smaller. I wonder if Hyundai will push for consolidation of smaller dealerships like this as part of the quest for greater legitimacy in the market.
  • backybacky Twin CitiesPosts: 18,686
    I think this is a photo of the 2009 SE, from the Chicago Auto Show:

    http://autoshow.autos.msn.com/autoshow/chicago2008/photogallerypopup.aspx?cp-doc- umentid=6194664&photo-number=1

    Note the 5-spoke wheels, fog lamps, and body-color trim on the bumpers and sides. Those are what make me think it's the SE--mainly the alloys, which are different from the alloys on the 2009 Limited--thank goodness!! Also, does the grille look a little different from that on the Limited? At any rate, I much prefer the looks of this car to the Limited.
  • bhmr59bhmr59 Posts: 1,598
    Thanks for the pix, backy.

    Odd, but to me it looks like photo #2 has "chrome" bumper/side moldings--the other pix don't.

    Must be they had more than one trim level there in the same color.

    Edit: just noticed the wheels are different also, so it is not the "same car."
  • jaxs1jaxs1 Posts: 2,697
    I am considering the 2009 Sonata, but I looked up KBB trade-in value of 2 an 3 year old Sonatas and compared them to a comparably equipped 2 and 3 year old Honda Accord with same mileage and condition and the resale value of the Hyundais are still so much lower even though Hyundai quality and reliability is now better than most cars.
    The 80-90's reputation is not going away any time soon and you will pay for this at trade-in time,

    The only way you will come out ahead buying the Hyundai is if you can buy the new Hyundai for at least the same amount of a discount new as you will have to give up at resale time.

    For instance, suppose the realistic market value of your used Hyundai trade-in is $5000 less than a similar Honda trade-in, then you will not have saved any money unless you paid more than $5000 less for the new Hyundai than the best deal you could have got on the Honda when the Honda was new.
    If it is even close, then you might as well get the one you like the best.

    Look up dealer trade in value of a 3 year old and a 5 year old Sonata with 36,000 miles and 60,000 miles and "good" condition and compare it to the closest equivalent Honda Accord model with the same mileage and condition and see if you think you could buy a new Sonata for enough of a discount compared to a new (and also discounted) Accord to come out ahead with the Sonata.

    The lower MSRP plus rebates on the Hyundai still may not be enough to offset the much lower resale value that could wipe away all your original purchase savings plus more,
  • backybacky Twin CitiesPosts: 18,686
    Yes, for now at least the financials work out much better if you get the Sonata at a big discount, because we don't know yet what the resale value of the 2009 model will be. I expect it will be higher than what we've seen in the past, both because of improved quality/capability and also because of higher sale prices when new (e.g. there were no $27-28k MSRP Sonatas out there until now). So if you plan on trading the Sonata in 2-3 years, the big discount up front is very important, compared to buying something like an Accord.

    Keep in mind that 5-year trade-in values for the Sonata are based on the 2003 Sonata, which was not nearly as good a car (or pricey of a car) as the current Sonata.

    FWIW, the private-party sales are not as bad as trade-in values. Maybe more people out there see that Hyundai makes a good car now and has for some time. For example, when I sold my '01 Elantra after five years, I got almost exactly 50% of its original purchase price. I didn't get a big reduction off MSRP on the car because I bought one of the first all-new '01 Elantras to come to the U.S, back in 2000, and there was only $500 manufacturer-to-dealer cash on it, and no consumer rebates. Even so, I think I came out very well, and in absolute dollars I think I fared better than I would have had I bought my 2nd choice, a '01 Civic EX. The dollar depreciation on the Elantra after 5 years was about $5900.
  • jaxs1jaxs1 Posts: 2,697
    Even when you compare a 2006 Sonata GLS (current body) to a 2006 Accord LX sedan (old body style), the trade-in difference is massive.

    2006 Accord LX automatic with 30,000 miles: http://tinyurl.com/2a3bv2
    2006 Sonata GL automatic with 30,000 miles: http://tinyurl.com/2bo589

    Huge difference. Could you have purchased a 2006 Sonata new for enough of a price difference to make up for the current difference in trade-in value?

    You could get more selling to a private party, but you would also get more for the Honda doing the same thing.

    If quality and reliability are good and resale value is poor, then maybe the best deal will be buying a low mileage used 2009 Sonata in 2 years.

    If Hyundai comes out with an aggressive lease deal with low rates and an artificially high residual, then maybe I will still get the Sonata via the lease program and not worry about resale value.
  • The only price i would pay for sonata w/ auto is $15K OTL. I will buy either Camry or Accord if i have to pay more than $15K OTL~

    I hate to say that, but this won't change at least for this few years for Hyundai car.
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