2013 and Earlier - Hyundai Sonata Prices Paid and Buying Experience

tonygrove

Did Hyundai ever offer "everyone-eligible" $1000 rebate at the same time as "competitor" $1000 rebate on the Sonata?

Looking at the Hyundai Sonata rebates for December - the $1000 (Hyundai) Owner Cashback has always been there, so has been the $1000 HMFC Bonus Cash. The only variable here is the difference between the "everyone-eligible" Customer Cashback during December and the "competitor" $1000 rebate during summer (for Toyota or Honda owners). I am just wondering if there is a chance that Hyundai gives the 2 rebates together, so it may be even sweeter for a competitor owner like me to convert (from Toyonta)

zen2

If anyone still has a question, I just got my paid in
full finance contract in the mail. No payoff fee,
no penalty for paying off after one month. My new
rate is 4.99 vs 7.49.

kman54

Thats good to hear zen2. I just did the HFMC this week at a terrible 8.9 but have a 4.5 ready to roll at my credit union. As soon as HFMC sets up my account I will pay it off.

tulipyu

We are going to pick one from PUGI tomorrow. The out the door price is $18600 after $2000 rebate. The tax rate is 6.25%. I told my local dealership that we would buy from them if they could give us the out the door price $18900. But they refused. My local dealership's final price is $19300 out the door. It takes us 2.5 hours to get to Chicago. Hope PUGI won't play tricks to us tomorrow.

tonygrove

Thanks for the update, tulipyu. You have been very helpful.

Gurnee Hyundai gave me a new quote - 19,104 initial, 18,691 otd. That's good enough for us because we have the higher Cook County tax. We will go pick up ours tomorrow.

Good luck to you, tulipyu! And Happy New Year!

tonygrove

Did anyone hear of a checklist to go through when picking up a new Sonata at the dealership? I heard there is such a checklist on the Web for Honda Odyssey buyers, so it's easier for them to check all important features when pickup up the new minivan at the dealership. Thanks.

backy

Every new Hyundai comes with such a checklist. It's supposed to be in the car at delivery, to prove that all the pre-delivery services were completed. If it's not there, you could ask the salesperson to see it, and then review it with him/her to make sure everything is covered. I've seen the checklist for my two Elantras and it's pretty comprehensive.

lightfootfl

Has anyone heard anything authoritative regarding the rebates for January yet??

stockmanjoe

Yes I found the checklist and a tech had initialed all the items. It was in the trunk if I remember correctly. It may have been in the glove box though.

bhmr59

Does the checklist list the auto door lock feature?

stockmanjoe

I definately saw it because it surprised me it was the firt time I had ever seen one. I think I found it in the trunk but I must have tossed it I can't find it anywhere. You ask a good question - they did not program my locks and I can't remeber if it was on the checklist.

zen2

Wow, 8.9? I also got a 48.00 check in the mail today
from Hyundai for paying off before their payoff quote
date.

wesvolk

Newcomer here. Thanks everyone for all the helpful information on your Sonata experiences.

Purchased a 2006 Sonata GLS 4 - Deepwater Blue/Beige earlier today (Dec 31) from Rosedale Hyundai (Twin Cities).

When we looked at the car the first week of December, they were at an MSRP of 19,995, which after rebates, put them at 18,495 (which would have ended up at 20,057 after taxes and fees). At that point they wouldn't budge.

This week, a rival Hyundai dealer - White Bear Hyundai Superstore - was listing an "e-Price" of 18,146, based on an MSRP of 20,587, which was the basic 19,995 plus a $592 optional "Auto Butler" package. Their Internet Manager indicated that minus the Auto Butler we could discuss a price between 17,600 and 18,146.

We took that information to the dealership we visited in early December.

They offered a price of 17,600 for the Sonata.

This included the $1500 for the two standard Hyundai rebates we qualified for and were willing to take, and a dealer discount of $895. With taxes and fees we paid an out-the-door price of $19,086.75, which we're very comfortable with.

And it's beautiful-looking car. We're very excited.

Thanks for the helpful discussions. Next up is following your thoughts on the payoff of the Hyundai financing. We were told today we had to do at least 120 days with a minimum of $164 in interest.

Then we'll move over to discussion on the vehicles themselves. Thank you.

rhduke00

Paid $17,263 OTD which included destination charge of $600 + sales tax, license, mass transit, and doc fees totalling $1250. Final price was after $2500 in rebates.

backy

Look at your financing contract re early termination. It will spell out how long you need to keep the contract in force before you can terminate it. Somehow I doubt it will say 90 days--we have seen cases here of Hyundai dealers saying that because they don't get their bonus on the financing deal unless you keep it open for 90 days.

ruadong

2006 Sonata GLS 4-cyl basic

600(freight)
500(Ad)
1.06(6% tax rate)
1500(qualified rebate including 1000 from HMFC)

Haggled to 17800(OTD)

Good deal?

docjosh

Backy,

Just so you and everyone else knows, there is NO EARLY CANCELLATION FEE for refinancing or paying the loan off early. If Hyundai tries to send me one, I won't be paying it. There was NOTHING in my HMFC contract that I signed stating any element of time. So, EVERYONE, disregard what the dealerships tell you when you buy your new Sonata. Hallman's Hyundai in Erie told me that I had to wait 90 days to refinance my new Steel Gray Sonata LX w/ option 3 (moonroof and 6 cd changer). We all know what the 90 days was about - more money for them. So, buy your car and refinance as soon as you are in the system. It took me around 2 weeks until I got my info. Refinanced at a rate of 5.70% with USAA - better than 6.9% w/ HMFC. Good luck shopping all and Happy New Year (a little belated!).

docjosh

backy

I am glad this is the case for everyone. I am not an attorney but I thought that early-termination fees are legal in some states. So as you said, everyone needs to READ THE CONTRACT and go by what IT says, not what the dealer says.

OTOH, if I were to get the financing rebate and get a really good deal on the car, and the dealer is upfront with me and a pleasure to work with, and they ask me to please keep the contract open for 90 days so that they get their bonus, I think I would do that. I'd just pay off all but a few hundred dollars right away, to minimize the finance charges, then pay off the rest after 90 days. But if the dealer lied to me, I'd pay the whole thing off right away. :mad:

zen2

Go back and read the last 5 or 6 posts.

zen2

I think almost everyone has been told they had to keep
the financing for 90 days. I was. Also, I was told
that the best rate they could give me was 7.49,
and then the same dealership gave a young guy 5.something.
My credit score is close to 800. So I had no second
thoughts about refinancing. If they had been straight
with me, I might have kept the financing for 90 day.

NO PENALTY, NO PAYOFF FEE. AT least in Pa.

docjosh

Amen to the no payoff fee in PA brother!

Yeah, Hallman's Hyundai in Erie, PA is great like that. I like their sales team... but the financing team can leave something to be desired! Although my credit rating is flawless, I was told that I "didn't make enough of a monthly income" to finance for 60 months at 5.9%. Instead, I was forced to finance for 72 months at 6.9%. This was after me handing them a hefty down-payment of $6200 cash!! Not bad for a 23 year old medical student eh? Keep that for 90 days?? I think not.

When my HMFC customer number came in the mail, I called USAA (insurance, loan, and banking company for military personnel) and refinanced immediately at a rate of 5.7% for 60 months. I don’t plan on keeping the loan for that long, but that is to at least get me until May. After that, I don’t have to pay for food / housing for two years. The beauty of 3rd and 4th year of medical school – get an education from hospitals that offer room and board. Then, most of my Air Force stipend will go to paying off the principal of my loan. But anyway, that's beside the point.

I just wanted to share a little more background information as to why I did NOT keep my loan with HMFC for 90 days. If Hallman's would've let me initially finance for 60 months at 5.9% I might not have refinanced at all! Oh well, sorry HMFC - I have to do what is right for me.

docjosh

bhmr59

"If Hallman's would've let me initially finance for 60 months at 5.9% I might not have refinanced at all!"

Just shows that the finance guys at the dealership weren't too bright. You, I and most people probably wouldn't bother refinancing a 60 month note for a 2/10% difference in the interest rate. Especially with a relatively low amount borrowed. Heck prepaying a couple hundred bucks early in the note will probably save as much interest as refinancing for 2/10%.

toyotafreek

Korean automaker Hyundai Motor Co. Ltd.'s (005380.KS) sales fell 13.7 percent last month (December) and were down 7.7 percent in 2005.

Toyota sales were up about 10% this month.

bhmr59

The brand name total sales don't tell the whole story. Accent & Elantra low '05 inventories in the fall...Azera doesn't hit the street until sometime in December.

Check post #3584 on the Sonata 2006+ forum for more details, by model sales.

backy

First, that's off topic for this discussion.

Second, Hyundai's U.S. sales figures have been posted in other Hyundai discussions here and they were UP for both December year-on-year and were up for 2005 compared to 2004, despite lagging sales of the aging Santa Fe. Sonata sales really picked up in the past two months, over 14,000 in November and over 20,000 in December. It is now Hyundai's best-selling car in the U.S., topping the Elantra in 2005.

fiesta

They charge me $0.50 "Convenience Fee" every time I make a payment online. And the scheduled payment date must be two days early than due date ( they calculate the interest based on due date, though). They can earning a couple of dollors by doing these sick things, but it's not a smart move. Hyundai's finance & service are much worse than Toyota. It takes no more than one hour to change oil in Toyota dealership on weekend, but for Hyundai, their schedule on weekend is always full. They won't change oil for your car even if you go there at 9am. :mad: Though I'm happy with my first hyundai -- 06 sonata, that might be the last hyundai in my home.

Did anyone pay extra principal of the loan besides the regular monthly payment? How to do it on line? Thank you!

bomar60

I am currently looking to purchase a new 2005 XG350L in the Phoenix area (I know this is the Sonata board, but there isn't a board for the XG350). After subtracting the current $3000 rebate, MSRP is $24,159 - Dealer Invoice is $21,486 - and TMV is $21,949.

Looking around the Web, there are at least 20 inventory vehicles of this model at various dealers around the Phoenix area. I have received quotes from some of these dealers ranging from $20,088 to $21,986 (+TTL). The dealership that quoted me $20,088 had an ad offering the vehicle at that price with an additional $2000 in rebates (for which I do not qualify) making the final ad price $18,088.

I have not made any offers as of yet. I am wondering now, since the vehicle is a year old, and depreciation is quite high on these models ($9263 first year, according to Edmunds), if some amount of depreciation should be taken into account in the final purchase price. Does anybody have a feeling or some knowledge on this?

I know the vehicles are still on the dealer's lot, and have never been titled, so they cannot be called "used", but my instincts tell me I shouldn't pay near the "new" price.

What say ye?

averigejoe

There is a board on the XG 350. Go read it for good info.

Last year, January 2005, the 2005 XG 350 L was advertised at $18995 in the Phoenix area. That price was available if you already owned a Hyundai (loyalty rebate).
So maybe you should pay much less now since the car is a year older now.
But back then gold was 425 per ounce. Now it is 525 per ounce. The dollar has lost almost 25% in buying power in a year compared to gold. So maybe you should pay more for the older car now.
Haha. No help from me.
Check the newspaper ads for the last month or so and make an offer equal to no more than the lowest advertised price that you should have qualified for. You should be able to get one for that.
The XG 350 L is a really nice car if you get one for a low price.

bomar60

Joe,

I didn't see an XG350 board under the Prices Paid: heading.

If I had bought an ounce of gold in January 2005, and was to sell it now, I would make $100 profit. Even if adjusted for inflation, still a profit. If I had bought the XG350L at that time and tried to sell it now, I would not make any profit, and in fact would lose substantial money due to the high depreciation rate on the Hyundais.

My thinking was, that the dealers should also have to contend with this depreciation, and take it into account when pricing their year old vehicles. I was wondering if anyone else felt this was valid, or if the nature of the business just doesn't take this into account.

boodah

tulipyu, so how did your transaction go? I'm curious to hear if the dealer kept their word. A lot of time they try taking advantage of the fact some will travel great distances then change something on them. I trust everything went well with yours.

-b

averigejoe

So, how much will you offer for that 2005 XG 350 L when you are ready to buy?

johnbush

Asbury Park Press ad: "30 available at this price- 2006 Sonata LX $12,999 + 500 mil rebate + 400 coll grad rebate + 1000 Hyundai loyalty rebate + 2000 dlr loyalty rebate" = $16,899 (I'm adding these back in assuming we do not qualify for anything) Of course price is after $1000 Sonata rebate and $1000 Hyundai financing rebate.
So you should be able to buy it for 16,899 + the dealer doc fee of $199(that's fair)+ tax(you would pay sales tax on 18,999-before the sonata and financing rebates)
FINE PRINT says "price includes all costs to be paid by consumer except for licensing costs, registration fees, and taxes" GUESS WHAT, WHEN YOU SIGN they tack on $600 in freight, $1695 dealer appearance pkg (pin stripes), and $200 window etching, SCAMMING US FOR $2495. NOBODY has paid the ad price. THIS IS OUTRIGHT FRAUD. Go there and demand to buy the Sonata ad. OH,YOU BETTER BRING THE AD,THEY SAY THEY DON'T HAVE IT THERE. WHAT? You don't have your own ad? - Every other dealer I go to has their ad posted!

backy

Another great example of, "If a deal sounds too good to be true... it probably is!"

sfosri

I wanted to ask forum members if they think CARSDIRECT.COM prices are good, I have not been able to have two dealers including one that is a Carsdirect dealer match the price that CARSDIRECT provides on its website.

For instance the price for a Hyundai Sonata LX with Option 3 (Moonroof+6 CD Changer) is $22,439.00. This is their price without any rebates.

You can get $1000 in Customer Rebate, $1000 in HMFC rebate if you finance through Hyundai (you can pay it off in 90 days I was told, but some forum members have said you can pay it off sooner than that), 1000 in Owner Loyalty on the LX if you have another Hyundai. Since I have a Hyundai Santa Fe which we love, I would qualify for this rebate as well.

So the total would be: $19,439 before other charges like Taxes, Registration etc.

So can any forum members tell me why bother with a Car Dealership when you can just figure all this out in 5 minutes on the carsdirect website? Are there dealers who can beat this?

The local sacramento dealer says, he cannot sell for almost a $1000 below invoice which is what carsdirect was offering.

Also are there any other websites that actually show you the total price you would pay if you buy through them?

Regards
Srini

backy

The Carsdirect price looks to be $400 under invoice--invoice on the LX with pkg 3 is $22,839. Still a good deal though. Maybe your local dealer added an advertising fee to their invoice price.

bhmr59

Edmunds TMV is also a good barometer. Often, it is lower than carsdirect. Check them both. My local dealer tried to rip me a new one when I mentioned carsdirect. He went nuts!

I bought out of state (and paid my state's sales tax) and paid a few hundred less than carsdirect price last April. Price I paid was a little under TMV at the time.

hbsprite

It is possible to actually beat the carsdirect.com price. Using the fax attack method from fightingchance.com, I purchased a 2006 Sonata LX with option package 3 for $20,650 BEFORE any rebates. The MSRP was $23,495 and the carsdirect price was $21,161. In this case I was able to get the car for $500 less than carsdirect just by doing a little extra work. I find that Edmunds TMV is a good gauge of the "average" price paid for a vehicle. Unfortunately this "average" price includes the joe blo who walks into the dealer and pays sticker. In looking to get the best deal possible, I pretty much tend to ignore Edmunds TMV.

In this case, a little bit of homework can save you a lot of money. The Edmunds TMV for my car was $22,429 and I was able to get the car for nearly $2000 less than that!

mrenginear

I paid ~250 under invoice for a 2006 Sonata LX (no moon roof package). Got the sales price to be 21,300, minus 1k cash minus 1k financing resulted in 19.3. This 19.3 included destination charge. Only paid for tax, title, licencing, dealier documentation fee (149 in this case).

North NJ hyundai dealer.

bomar60

Joe,

That is something I haven't quite figured out yet. I was wondering if anyone else thought this idea was valid, or had tried something like it themselves.

I would imagine the entire $9200 depreciation would not come off the price, but taking some portion of it into account seems fair.

I will take another look at all the pricing info I have and work something up for posting later.

I appreciate your responses.

bomar60

O.K. I have worked up some numbers. I think this is a logical approach, but as to whether a dealer would accept the offer....who knows?

Looking at the first year depreciation here on Edmunds, I found that the depreciation rate was 37 percent of the TMV (before rebates). The TMV for the vehicle I am looking at is $24949; therefore depreciation would be $9231, leaving a residual value of $15718.

Reading around the Web, I have found that dealers will give you a deduct of about 15 cents per mile if you buy a demo vehicle. For most Depreciation and True Cost to Own calculations, Edmunds and other Auto Guide sites estimate 15000 miles per year. I figure you could give this amount back off of the depreciation value, because the vehicle has not been driven that amount while on the dealer's lot. This would give back to the dealer an amount of 15000 x .15 = $2250.

Therefore, my calculated value for the vehicle would be 15718 + 2250 = $17968

Hyundai still has a $3000 rebate on this model, so the purchase price would be 17968 - 3000 = $14968 +TTL

So, that's my thinking. As I said, I feel it is logical, but if it would get a positive response, I haven't the faintest notion. What does anyone else think?

bhmr59

Another way you might try: Take the used car retail value from Edmunds or KBB or NADA figuring low, low miles, like 1,000. Use "retail" because the dealer is retailing it. Consider it a "used" because once it is registered to you it is a "used" car. Then deduct rebates from that used car, with really low mies to arrive at what to offer.

averigejoe

Under $15,000 ? Sounds like a great price. You might want to add some $ back in to account for the new car warranty.
Buy a couple.
I know you'll enjoy them if you are not expecting sporty handling. Compared to most minivans, it may seem like a sports/luxury car.

doylehargraves

Great info on this board. thanks.

On the 2006 LX...Just got an e-mail back from a local Hyundai dealership in Dallas that said "they would sell this car for only $150.00 over invoice minus all rebates you qualify for."

sounds too good to be true. Invoice s/b about 20,961 on the LX, plus $150, less $2000 rebates = 19,111.

swva_gls4

$17,491 plus TTL, in Roanoke - best I could find in Virginia from Bristol to Midlothian, of those who would answer my e-mail

No. 2 was in Charlottesville, $17,755 + TTL

final assembly point - "Montogomery"

mrenginear

dont forget to add teh destination charge..thats not part of invoice..add on another $600 (by me at least). i got mine about $250 under invoice including dest charge - or 21.3 minus 2k, then add on ttl and documentation fee (149)

splongyuan

How about alexandria hyundai?
They gave me $17,000 OTD price for GLS 4-cyl with no options.

w9cw

I just received these price quotes from a local dealer. How do they measure up to what other's are paying? Note: The Selling Price, includes the destination charge, but not doc fees ($55) and sales tax (6.75%). The license and title registration fee of $143 is also not included.

2006 Sonata GL Automatic (no other options)

Selling Price: $17,149
Rebate: $500
Finance Rebate: $1,000
Loyalty Rebate: $1,000
Total: $14,649

2006 Sonata GLS 4-cylinder Automatic (no other options)

Selling Price: $17,615
Rebate: $500
Finance Rebate: $1,000
Loyalty Rebate: $1,000
Total: $15,115

2006 Sonata GLS V6 Automatic (no other options)

Selling Price: $18,904
Rebate: $1,000
Finance Rebate: $1,000
Loyalty Rebate: $1,000
Total: $15,904

blnewt

I'd get to that dealer ASAP, those prices are tremendous! Especially if you qualify for all the rebates.

w9cw

Yes, that's what I thought. We bought a 2006 Elantra GLS sedan from this dealer on Christmas Eve, and got a great deal also. I normally don't finance cars, but I would take advantage of it to get the Hyundai Financing Rebate. Thanks for the feedback.

skt2

Would love to hear how this progresses. Mind saying where you are located? Ohio here

I'm looking at gls v6 and the first offer was 100 over invoice 19,231+ 600dest + 600 advert = 20,431 (+ttl and doc fees).

I did not think there was $1500 wiggle room off of their first offer.