2013 and Earlier - Hyundai Sonata Prices Paid and Buying Experience

tinydog1

Just puchased a Sonata LX (Dark Cinnamon) for 19K out the door (tax, title, registration and all dealer fees). The dealer also gave me at no charge tint, spoiler, door edge guards, 10 disc CD changer, amp, subwoofer (wanted the in-dash 6 cd changer so that is why they are installing the extra audio equipment) and let me have the 10yr. bumper to bumper extended warranty for $595. I wanted one with option package 3, but did not like any of the colors available with it. Great car, not too much different than my Azera (which I love).

backy

You got a great price on the warranty--and the car! That's the lowest price I've seen on the extended warranty.

tinydog1

Yeah, they treat me pretty well, I have purchased 6 cars from them since 2000, and just purchased my Azera in December. Got a great deal on it too, considering I bought thier first one.

averigejoe

Kelley BlueBook (Nevada) shows $8175 as the trade-in value of a good condition 2005 base automatic Elantra with 18,000 miles and NO OPTIONS.
$8425 if 12,000 miles.
$8700 if 6,000 miles.
(How many miles and what condition, transmission and options, if any on yours, mia?)
Even using $9250 as the true value of mia's trade (based on his estimate of 9 to 9.5 k) the $13,000 trade allowance was great! And presumably, he benefited too from the additional sales tax savings on that $9250 amount, which comes to $647.50.
So, the before government taxes, but accounting for the $2000 rebates, the sale price was at most $17,741.61 (or $17,094.11 counting the extra sales tax savings), on a $24,895 MSRP car!
That is between 71.3% and 68.7% of MSRP on a first year model car, and a desirable one at that. Wow!
I salute mia for getting the equivalent of the $1000 finance rebate even without using Hyundai financing. Good move!
Mia got the percentage deal I would be looking for now on a new Sonata LX pack 3, or an Azera Limited Ultimate.

On my last four new cars, which were desirable and current year Asian cars of three different makes (not Daewoo or Suzuki or Mitsubishi), but not totally brand new designs, I have been lucky enough to get good prices lower than 57%, 68%, 71% and 67% of the four MSRP's. And there were no trade-ins, no military or college rebates, and no manufacturer financing rebates on any of them. The cars were in perfect condition with odometers showing between 14 and 47 miles at purchase times.

Super deals are possible if you get lucky and buy at the right times, when the dealer really needs to sell a car, for whatever reason. If you get a deal like these, don't worry about why the dealer discounted it so much. Just enjoy!

I have found that a really low initial purchase price coupled with a later private party sale while the car is still under warranty does wonders for the resale value percentage of purchase price too.

averigejoe

Again, congratulations on your GREAT deal!
I figure it is about $18,291 out the door. LX, pack 3. Wow!

120 odometer miles is fine (unless they were done in 480 quarter-mile sprints).
I would not have worried about your 120 miles either.

averigejoe

I should have said for my last five new Asian cars (not Daewoo, Suzuki, Mitsubishi) I have been lucky enough to get good prices lower than 57%, 68%, 71%, 67% and 64% of the five MSRP's.

lightfootfl

Thanks, appreciate it... saw it in several of the posts and just couldn't figure it out.

miamixt

I clicked on the Visit me at Car Space on your profile, and it didn't work?.

Yes I figured the lower 18's for the LX OTD, but I didn't want to post that because my Deal was a mistake. Both my Salesman & his Desk Manager were gone from the Dealership the next day. The original Deal was based on another Car (a GLS with most options) and also the $1000 HMFC rebate which I eventually didn't qualify for, as I have no Job. 5 days later when they couldn't produce this Car that was supposedly at the Body Shop, I became upset, and told them I will either drive off in an LX right now, or cancel the deal. It worked, however after two Weeks of driving the LX wondering how the heck I did it, they called asking for an extra $1000, as HMFC said no. I knew this was going to happen, and we agreed to $500. The next morning I went in planning to either return the Car, yell some more, or agree to pay just what was specified on the contract. Since my signed contract listed the rebates together as a lump sum of $3000, with no mention of what they were for, it would have been hard for them to prevail in a Court of Law. However I signed away my Legal rights in favor of arbitration, which I will never do again!. In any case since the Car was provided on a convenience basis, and also because there is a provision in the contract if the Dealer makes a mistake, the contract can be voided, I felt I was going to lose my LX. However it was the end of the Month, they had already figured my sale into their monthly total of 22 cars, and my cashiers check sealed the deal!

averigejoe

Wow! What an ordeal you went through. Nothing so dramatic in my purchases.
So the dealership made a mistake in your favor? Oh well, nobody's perfect. Glad it worked out well for you.
I just figure the dealerships won't go out of business if they give a couple people extra good deals once in a while, so I enjoy being one of them. I did not force any of them to deal with me, they eventually chose to sell to me at my price.
I agree with you wholeheartedly about not wanting to sign away litigation rights. The problem is, many business people will just tell you to go away if you won't agree to their arbitration agreement. And that includes dentists, doctors and other professionals too, as well as services and retail businesses.
I don't know anything about carspace.

miamixt

First off about Car Space, it's on all our profiles, I never noticed it, have no idea what it is, even the link doesn't work. Perhaps a Mod or Backy could let us know?.

Let me address a question from your previous post. The Elantra had Auto & C.C. with only 4000 miles. KBB Florida says $9575 in good condition, and it was! :lemon:

I do admire your Mathematics in response to my series of posts. It seems you know how to work around figures?. Sure I saved on tax, and Florida's DMV fees are reasonable. Sometimes you can just beat Dealers at their own game. I did not go in there with that frame of mind, I knew how much money I could spend, and never thought of going for the financing, because my Credit it good but maxed out which is really bad!.


"Mia got the percentage deal I would be looking for now on a new Sonata LX pack 3, or an Azera Limited Ultimate".

Yes, the guy who did the figures & yelled at me ("this is a $3000 loss for us") was not working there along with my Salesman two days later. The Dealership had just gone through a mass firing of almost the entire Sales & Finance team, and the brand new G.M. seemed really creepy. I had a few cosmetic issues put on a "WEOWEYOU" and signed by the salesman & myself. Since I wasn't given a copy, he questioned whether it existed. I called my fired Salesman who gave me the real inspiration to finally close my deal like a skilled Surgeon. I even have a copy of the final transaction session on digital audio :P .

One funny thing though, I brought in the other 2 original purchase orders and they wanted them back. I said no, it's on the tape!

And a word of advice. This Dealer used one of those giant all in one forms, instead of individual forms used in the past. I had never seen this by the way. It was during this process that I signed away my rights for arbitration. I thought this had to do with Warranty claims, not the actual purchase. As noted by you above Joe, be careful while signing anything anywhere, especially when it has to do with arbitration :mad:

Love this new Sonata

Scott

gino3

Suzanna,
I am interested in buy a new sonata but would like to have a better understanding of the HMFC $1000 rebate. My preference is to pay cash, BUT if I can find a way to utilize HMFC to lower the price and then paying off the HMFC loan how should I proceed? Is there any maximum limit for a down payment? Is there a penalty for prepayment of HMFC and if so what is the cost? I guess I would just like to know about any "fine print" in reference to using HMFC to obtain the $1000 rebate.

Thanks in advance for any words of wisdom.

Gino3

miamixt

eh Gino, that's about all we have been talking about for the past month or so, you might want to read more posts. Yes, we also have been talking about some great deals here. And there's the occasional how GREAT the new 06 Hyundai Sonata is :P

gino3

Mia,
Actually I have gone back and read many posts. As I understand it, you were able to get a rebate but you did not use HMFC. Your deal appeared to me to be a unique one between you and the dealer. Suzanna is the only post I could find that stated she used HMFCA and was then able to pay off the entire loan thereby incurring little in the way of interest charges.

My questions range from how large a downpayment can be made to if the repayment of the loan carries some kind of a penalty with it. For example-------can I pay 30, 40 or 50% down, finance the balance and then quickly pay off the remainder.

Gino

tinatina

Gino,

In order to qualify for the $1,000 rebate from HMFC, you have to finance the vehicle through them. The rates that posters have received appear high (7% to 9%), when compared to a credit union (in the 4s, 5s, and 6s. It appears that posters have taken the rebate only to quickly refinance the vehicle through a Credit Union.

On the side note, I went to Hyundai USA's website earlier this morning, and they indicated that no incentives were availalble. I don't think this is the case. I'm interested in a 2006 GLS V-6. Any pricing tips/suggestions.

backy

You will see the new incentives for April in a day or so. It just takes a little time to update the web site.

One of the Hyundai ads in my local paper highlighted a lease deal on a GLS V6, which is a new offer--previous lease deals on the 2006 Sonata focused on the GLS I4. As I recall, the lease offer for the V6 was about the same (maybe a little higher down payment) than the previous offer on the I4, and it was for 30 months.

tb88

Minimum to be financed is : $10,000.

You can pay it off as soon as you get your loan in the computer system...

Penalty: read your financing Contract; it should spell out any fee - penalty if paid early, nothing more, nothing less!

Nobody knows if they will offer it again... but it appears that the HMFC $1,000 give away, was a resounding success! I am glad I don't own any of their stock (shares)!

gino3

Thank you tinatina, backy, and tb88 for your posts.

I check Fitzgerald prices this morning and they are as follows:
GLS4---$17527 GLS6---$17562 LX---$19292

Carsdirect target prices for my zip code are as follows:
GLS4---$17796 GLS6---17631 LX---$19361

GLS4 rebate was $1000 if financed by HMFC plus $500.
Rebate total for GLS4 was $1500

GLS6 and LX rebate was $1000 if financed by HMFC plus $2000
Rebate total for GL6 and LX was $3000

Note that in Carsdirect the GLS6 is cheaper than the GLS4.

Thanks again for your replies,

Gino

suzannafl

Hi Gino,

I just reluctantly got the HMFC loan Friday night.
I am in the process of learning how to pay it off, will keep in touch.

Suzanna

suzannafl

As I mentioned in another thread, there are no names, addresses or telephone numbers on the loan agreement.

The information I got from the dealer is in California, yet I've read that the correct office for paying off the loans is in the Northeast somewhere.

Could anyone give me the correct name, address and telephone for the payment/payoff?

Thanks,
S

ersatz07

HMFC Web Page

Automated Retail Account Access - 1-800-523-4030

To access information regarding your HMFC account, including account status, date of last payment received and payoff information, you may call the HMFC automated phone system at:
(Note: Please have your account number or social security number available when you call.)

Customer Service Department
1-800-523-4030
6 a.m. – 4 p.m. (PST) – Representatives available

Collections Department
1-800-523-7020
Mon. - Thurs. 6 a.m. - 7 p.m. (PST)
Friday - 6 a.m. - 5 p.m. (PST)
Saturday - 6 a.m. - 12 p.m. (PST)

Consumer Affairs
1-800-633-5151
5 a.m. - 6 p.m. (PST)
Answer questions regarding: Hyundai Motor America and warranty issues

24-hour Roadside Assistance
1-800-243-7766
Answer questions regarding: disabled vehicle, locate a dealer, I.D. card inquiries,
and program guidelines.

suzannafl

Thanks for all the telephone numbers.

Is my account number the same as the number on the loan agreement or do they issue another number?

I can't wait until this is all over!
Suzanna

ersatz07

I'm pretty sure it's a different number. But when you call I believe you can identify yourself by your social security number instead of account number. It took about 3 weeks for mine to show up in their system.

tb88

The Phone #: 1-800-523 4030

They will give you the address where to mail the pay off.
Also they will tell you up to what date the pay off is good for; ( usually they give you the pay off amount for 15 days+ from the day you called them... and they will calculate the exact Interest due, as of the day they receive the payment; and if you overpaid they will mail you the difference!).

No the Loan # is different: but all you need for now is the Social Security # and the VIN last 6 digits!

Your new loan place does the pay off for you: They will not give you the check!

So when you apply, give them the phone # and they will do all the rest(+ SS # and last 6 digits).

I suggest you wait about 10-12 days before flipping the loan... that way HMFC will have mailed/ paid the $1000 rebate to the dealer first.

suzannafl

"I suggest you wait about 10-12 days before flipping the loan... that way HMFC will have mailed/ paid the $1000 rebate to the dealer first." quote

OK, I'll be nice!
Suzanna

cxc

I just paid off my Sonata. When HMFC sends the monthly statement, they indicates the pay-off amount. Just mail them the pay-off amount and it is done.

gino3

Suzanna,

Not trying to inundate you with too much information, but I got the following from the HMFC Website (Q&A)about "payoff":

Thanks for your reply,

Gino
---------------------------------------------------------------------------------

Payoff

What is an account payoff and how is it calculated?

The payoff is the amount that you need to pay your retail account in full. Your payoff includes:

Principal balance - the remaining portion of the original amount that you actually financed, plus

Accrued interest on the principal balance, and in some cases

Additional charges, such as late fees.
To obtain a payoff quote call our automated system at 1-800-523-4030.
How do I pay off my HMFC account?

For your account payoff to be processed without unnecessary delays, we require:

A check or money order for the full payoff amount, made payable to HMFC (Hyundai Motor Finance Company). For retail payoff quotes over the phone call 1-800-523-4030.

The address the title should be sent, if it is different from what we have on record.

Your written authorization if you wish the title to be mailed to a third party.
Where do I mail my payoff?

HMFC - Payoff Department
1001 East Fayette Street
Baltimore, MD 21202

tb88

kingr

Did the cash rebate go up to $2000 this month, Is the $1000 HMFC rebate in addition to the $2000? Did Hyundai just raise the V6 rebate by $1000 for the Month of April.

tb88

NO; it is either 2,000 Rebates OR 2.9% and 1,000... NOT BOTH.

miamixt

Usually the best published rate can only be obtained with FICO/Beacon Scores over 720. And I see where the Valued Owner Coupon has been reduced to $500.

In any case now is the time to take advantage of the new Sonata V6. As Captain Picard would say:
"Make it so!"

LX V6 Months 24-48, 49-60, 61-72
$2000 or/ 2.90%, 2.90%, 4.90%

94hawkskin

Looks like people who bought between November and March got great deals compared to these new rebates. I think they will come back, but when? I bought mine in December and am glad I did.

It also looks like the V6 is becoming a better deal all the time. It now has a standard $2K rebate compared to the $500 rebate for a I4. Also more dealers seem to bend on their price more for the V6.

They also took the valued owner rebate down from $1K to $500 for all trims.

The maximum rebates you could get in March are excluding college and military rebates:

V6 Models: $3K ($1K for standard rebate, $1K for HMFC, and $1K for Previous Ownership)

I4: $2500 ($500 for standard rebate, $1K for HMFC, and $1K for Previous Ownership)

Now the Maximum you can get is the following excluding military and college rebates:

V6: $2500 ($2K for standard rebate and $500 for previous ownership)

I4: Here is where it really makes a difference. $1000 ($500 for standard rebate and $500 for previous ownership).

averigejoe

Better not count on lower prices in the future.
Material costs including steel and others, are skyrocketing. Transportation costs, including oil are too. This is in part due to the devaluation of the U.S. dollar and in part due to increased demand for materials and oil, chiefly in China.
Look at house prices. Some of their increases are due to materials and labor and transportation costs. Some of the increase is due to easy credit. Some (much) is due to speculators who were looking to ride the wave to its top and then unload. The unloading is beginning right about now.
As the real estate bubble continues to deflate, people will choose to spend their devalued credit dollars elsewhere. Maybe the stock market, maybe gold or silver, maybe commodities. But maybe consumer goods in an effort to own at least something tangible and arguably useful during a time of rapid debasement of the dollar. And consumer goods includes cars.
U.S. car makers are so far in debt it is not likely they will pull out of their predicaments without bankruptcies, which drives up prices for everyone. And, if more U.S. car nameplates are abandoned, competition is decreased which also usually causes prices to increase.
In spite of what appear to be historical highs, the Dow industrials, in terms of real money (gold and silver), are still down 50% from their highs a few years ago, and are still headed lower.
The current rebates on Sonata are still pretty attractive if you have any money or credit left.
Good luck and enjoy these exciting financial times. These are the good old days we'll remember in decades to come.

badday

I bought a Sonata LX on Apr 1st at 18xxx OTD. The OTD price was negociated thru emails and phone calls before I went into the dealership. Today (Apr 5th) I got a phone call from them saying that the $2000 cash rebate and $1000 finance rebate cannot be had at the same time (which is obviously a lie). They asked me to go back and re-sign the contract but they will keep my financing balance and term the same. It sounds like I don't lose anything but I just don't trust them because they tried several times to fool me even with the printed email with the OTD price on it when I went in to buy it. What should I do? Any suggestion would be greatly appreciated!

backy

You don't have to do anything if you don't want to. It was their mistake. You have a signed contract. It is a contract of adhesion (meaning they dictated the terms), so any errors will be construed in your favor. If you have a lawyer, you could tell them, "Call my lawyer."

averigejoe

The rebates changed after March.
If your purchase price and financing terms stay the same, help the dealer out and re-do the contract.
What's the harm?
Sounds like they made a paperwork mistake, but are willing to let you keep the benefit of it. They just want to clean up their paperwork.

tb88

When you sign the papers, you sign to the dealer the Rebates... and it is like you gave them a check provided it clears. If it doesn't, then you are liable for that amount.
I don't think you will be able to legally keep the $2,000 and get the 2.9% financing + 1,000... even though it was their mistake!

badday

Well said, averigejoe, if that's the truth, I would be glad to help them out. The problem is that I cannot trust them because the horrible experience that I had with them. I am worried that there are some gimmicks in it

badday

they didn't give me 2.9%. They gave me 8.x% and told me that I have to wait 3 months to pay off the loan to get the 1000 financing rebate. They treated me badly, they didn't even give me a full tank of gas!!

dripgoss

badday, YOU need to be diligent with the math - don't leave it to the dealer. If they were trying to scam you originally, what makes you think they'll straighten up now that they're requesting something from you...

Go read a site like carbuyingtips.com - especially the part regarding the "come back in and re-sign paperwork" scam dealers pull all the time...

badday

Good idea. I'll ask them to fax the contract to me first so that I can review it.

miamixt

I have 3 purchase orders, all with different figures that gave me the same bottom line figure. Remember, many Cars are provided as a "Consumer Convenience", while your Deal is being "processed". Anything can happen...

And then there's this if my Dealer made a mistake:

Continued Cooperation.
In the event this order or any other agreement or document executed by Consumer contains a clerical or computation error, Consumer agrees to cooperate with the execution of a corrective Document. Should Consumer disagree with the correction required by Dealer, this Agreement shall, at the Dealer's option, be terminated. Consumer shall execute such other forms, agreements or documents, as may be required by the terms and conditions of payment indicated on this order. including any and all documents requested by dealer and /or the financing institution purchasing the financing from the dealer, and shall cooperate with any reasonable requests for information or Credit/income verification from such institutions.

averigejoe

Go to the dealer and ask to have the new contract explained to you. Then tell them you won't sign because you need to take a copy of it, already signed by the dealer, to your lawyer to have it checked out.
Then go pay a couple hundred dollars to a lawyer for review. If he says it is harmless to you to sign, sign it, keep a copy and return the signed one to the dealer.
Seems to me your cooperation should be worth 3 oil changes and a detail job during the next year at your convenience. An appreciative dealer might reward you in a similar way in addition to letting you keep the equivalent benefits of any rebates mistakenly included in your original deal.
I bet you negotiated during March when better rebates were in force, but then finally bought after they were no longer technically available. It is also possible that not even the dealer knew of the change in rebates on April 1st when your deal was written.(see Hyundai Sonata 2006+ board: #4873 of 4915 Re: April Incentives [tenpin288] by averigejoe Apr 03, 2006 (4:37 pm) )
Also, you may discover that your original contract contains a (possibly) enforceable provision favoring the dealer if the dealer happens to make a verifiable mistake on the contract.
Do what you want. In any case, good luck!

deck99

Fortunately I live where there are several dealers in a 50 mile radius.That helps to keep them more honest. Just do the best you can and enjoy the car!

heehaw

Folks: Wanted inputs on what prices (including rebates) can we expect for the Sonata GLS V6 with Sunroof in the Chicagoland metro area. I don't have another hyundai, so I will not qualify for the Owner loyalty.

Responses are much appreciated.

suzannafl

Hi Gino,

I called this afternoon, but my social security number was not in the system.

Did you get your payoff information?

Thanks,
S

gino3

Hello Suzanna,

Payoff is a moot point for me since I didn't buy before the end of March. I guess I'll go with the new $2000 rebate and get a GL6 for about the same price as the GL4.

Thanks for the update. Please let us know your outcome with the HMFC payoff.

Gino

missourian

I live in st louis got a quote for Sonata LX for $17,500+TTL,Share yours also,this is after $3000 rebate,I don't have hyundai so no loyalty rebate

backy

That is really a good price, since w/o the Hyundai loyalty rebate the max rebate now on the LX is $2000 (unless you are military or a college grad).

tinatina

Hello,

I received the following quote on a 2006 GLS V-6, $16,500 plus TTL. This is for with an MSRP of $21,495 and does not include the sunroof (22,395 MSRP, or $900 more). Any feedback? I live in N. California.

I only qualify for the $2,000 Cash rebate, however, is Hyundai still offering the $1,000 finance rebate? Is it true that these rebates can not be combined? I don't qualify for any loyalty, college grad, or military rebates.

backy

$5000 off with only a $2000 rebate is a great deal, I think you should take it and run.

The $2000 rebate and $1000 financing rebate can no longer be combined.