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Comments
The Elantra dropped 18.2%
The Azera dropped 6.8%
Does this make for a buyer's market? The good times for Hyundai may be over.
For example: is good times selling 150,000 Sonatas at $1000 profit per car, or 100,000 Sonatas at $2000 per car?
Hyundai has intentionally reduced sales to fleets and reduced rebates. That will reduce units sold, but should improve profit per vehicle. Meanwhile, if you think the situation makes for a buyer's market, all the better for those looking to buy a Sonata, right?
We may wish for those halcyon days of bargain-basement Sonata prices, but if Hyundai is to thrive long-term it's important for them to improve their profits per sale. Higher sale prices also should boost resale values. The Sonata still enjoys a price advantage over most competitors, so the value is still there.
If you look at hyundaiusa.com, it appears that you can get either the $1000 rebate OR 4.75% financing--not both.
- MSRP: 26,295
- Invoice: 24,599
- Rebates: 1,500
- Tax 7.75%
- Out the Door: 22,900.
Does the XM radio replace the regular AM-FM radio or is it in addition to it?
That's a great deal you got yourself there! Where I work we sell the Platinum for $22,286 (MSRP = $25,945, Invoice = $24,214) but we're a volume store with no doc fees or other hidden charges.
To the person asking about NAV in an earlier post, Hyundai is partnered with Garmin and offer a Hyundai-branded Nuvi that is available through your dealer.
And the XM radio is being integrated into the current radio setup, you'll have one AM band, two FM bands, and three XM bands along with a three-month subscription. The transceiver is placed at the back of the roof above the middle of the rear window and is covered by a color-coded box. Also, you shouldn't pay more for the XM equipped cars either since it is standard equipment so don't let a dealer take you for anything on it.
For some reason when you walk out of a car dealership, you have this feeling that you just didn't get a good deal. Thanks for validating that I got a good deal. It makes me feel better
Thanks for the info on XM.
I don't want it and, as such, can't see paying for something I don't need or want.
We are currently looking at and considering what I believe was one of those Hertz rental cars that they sent to auction, like yours. I did a carfax report on it, and it shows that it was a rental car for 8 months, has a clean report, with 15,500 miles on it. My son and I checked the car inside and out for marks and blemishes. It looks good. I am just looking for a third car for our household, and with a son that will be driving later this year, I'll need it.
This car is a 06 Sonata LX with the upgraded stereo and sunroof. I talked to their Finance guy this morning, and he gave me an option of adding an extended warrenty called "Advantage Powertrain Plus Plan" that he says will extended my bumper-to-bumper to 10 years/100,000 miles for $1,600.
The price that this dealer is asking is for the car itself is $18,900. I am going back either tomorrow or Monday to 'make an offer' of $1,500 less, and if he agrees to 1000 to 1500 off, I'll agree to buy his warranty.
I noticed today that the cars just aren't 'moving' on this dealers lot. I see the same cars that have been there for the past three to four weeks.
I have also been keeping my options open to buy a new 2007 Limited with sunroof and upgraded stereo (and XM), but none of us listen to the radio that much, I monitor my own tire pressure, and the stereo controls on the steering wheel are not a deal breaker for me.
I do want to save a TON of cash (as you state), so I just might buy the 2006.
Another thing about this dealer is that they have a program that provides free oil changes, free tire rotation, 2 free car washes per month, and a lifetime warranty on the engine.
I paid $14000 for my GLS I4 w/sunroof with 13k miles. That was my employers cost, I work for the dealership. I don't know what "used" LX's are going for. We had nine 06 Sonanta's, mixed 4 and 6, and some are still here. We have had them for about two months. We have sold about half of them. The uneducated are scared of the Hyundai name, that's their loss.
You can figure your dealer bought his about $1000 to $1500 back of trade book value. If you can look those values up for your area it might give you a better idea of how much money they are making and how much room you have for negotiating. I looked up an 06 LX with multi-disc, sunroof and 16" wheels. Trade value for the Northwest is $15175 retail is 17550 based on NADA. You should probaly offer them $16500.00 and take the warranty. If you do this and they accept be ready to drive it off the lot.
Karen, I am not selling here just helping by comparing. We have an 06 LX with 20K miles in our inventory that we own for $16000 and have a sell price of $18700. It has sunroof and 17" wheels.
I might add there are things that get added to the cost of the vehicle after the dealer buys it. Things like shop inspections, reconditioning and transportation.
Good luck and let me know how it goes.
Craig
Hyundai lets the dealership set the price and any inclusions/exclusions in the plan.
For example, where I work we sell it for $986 on Sonatas, Elantras, Tib, & Tucson.
Of course some markup is inevitable, but I, as a salesman, feel anyhting over $1,200 is too much to pay for the additional 5 yrs./ 60K miles of coverage
I assume HPP means Hyundai Protection Plan? Am I correct? What Bryan was offered sounds llike it was from an outside company. You are right, the cost sounds high.
looked up an 06 LX with multi-disc, sunroof and 16" wheels.
Craig,
17" wheels were standard on the 06 LX.
I let you all know if I buy and what my details were.
I don't HAVE TO buy right now. Was actually planning on waiting until about September and pick up a leftover 2007, but the son and I saw this one on the lot a couple weeks ago. We had just gotten back from the Auto Show in Harrisburg PA, had eaten dinner across the street from the dealership, and decided to do a walkthru of the car lot to see what they had. My son (15yr 8mth) a soon to be driver fell in love with the car, loved the color and features.
I would eventually turn this over to him, if I bought it.
Have a great weekend!
I did a locate for my own curiosity the other day and found perhaps ten in the entire nation with black on black, most were in New York!
It's sort of like the AWD versions of the S.F. and Tucson here in the South - practically nonexistant! I have to locate them in another state for my customers. Those are allocated to dealers up north and out west.
But because they are out there doesn't mean a dealer can always get one from another dealer. Sometimes the dealer with the car won't let go because they know they have the advantage. Supply and demand...the same thing will happen the first couple months when the Veracruz comes out.
Did you buy the used Sonata? Curious how the negotiations went.
Craig
I am thinking of getting 2007 SONATA PLATINUM EDITION, CAN YOU PLEASE GIVE ME YOUR DEALERSHIP ADDRESS, OR PHONE NUMBER, IS OTD PRICE INCLUDING TTL? (22900)
Where do you work? I am looking for one platinum edition, 2007 bright silver with black leather. I dont mind driving distance if I can get a good bargain.
But, while I'm here, zero out of pocket is much better than the terms below. I guess I need to shop around, like you suggested.
"Lease a 2007 Hyundai Sonata GLS. for $199/month for 30 months, $800 customer cash down plus $2,300 HMFC origination support, and $999 due at signing. See your local dealer for lease details. This program is effective from February 01, 2007 through February 28, 2007"
I am looking at a 2007 SE V6 with the preferred package. Sticker is:
21,895
650 Freight
-1000 Rebate
21545 Total
What would be a fair price?
$1,000 for everyone
$1,000 for everyone that finances via Hyundai (rate is 4.9% for 36 mo or 5.9% for 48 - 72 months)
$500 for current Hyundai owners.
So if you own a Hyundai you can get $2,500 in rebates plus the 4.9 or 5.9 financing.
Here's the link:
http://www.hyundaiusa.com/financing/specialoffers/special_offers.aspx?vehicle=So- nata
Price quote for an '07 SE, no options, is $16,350 + $189 doc fee + sales tax + registration. (We qualify for the loyalty rebate as I have an '05 Sonata). I'm in CT and the dealership is about 100 miles away. Emailed them late this afternoon to confirm all costs and ask a couple other questions. Hoping to hear back from them on 2/21 while the Hyundai & dealership promotions are in effect (until 2/28). We may have to scramble to close this deal this weekend, if everything pans out.
Will post dealership name and actual numbers when they get back to me.
> Did you buy the used Sonata? Curious how the negotiations > went.
> Craig
I went back-n-forth with the salesman on the 2006 Sonata. He did not want to come down much on the price. About a few hundred dollars.
Had taken the wife and daughter to look at the car. They didn't like the leather seats. They said, "too cold in the winter. too hot in the summer." :mad:
I'm thinking now of looking around some more and focusing on cloth seating to appease the women. When I got my wife her GMC Envoy a few years ago, she refused to get leather seating.
Did look at some GLS and SE Sonatas, and even stopped at a Kia dealership and looked at the new Optima. Too bad Hyundai doesn't make a Sonata Limited with cloth seats, but keep all the other amenities.
The search continues...
Craig
Hyundai basically does make the Limited in cloth...here's how:
Take an SE, equip it with the Premium Package, and voila, you have a Limited with cloth! :O )
The only diff. is the speakers won't be Infinity brand, but who cares? I work at a dealership and I can honestly say I do not hear much of a difference in sound.
The price for the Sonata SE-XM is $16,600 plus $189 doc fee and tax & registration. In addition to XM radio, this version includes the extra radio controls on the steering wheek and floor mats. The price includes the three rebates mentioned earlier (totaling $2500).
You can easily find the dealership on google or, just think of the name & and add dot com.
I am working with "Internet Sales Managers." (There seems to be a lot of "managers" out there until I try to get a precise quote from them and, then, they need to pass on the information to their boss.) I'm recuperating from a car accident where an inattentive driver hit me head-on because he didn't see the car in front of him had stopped to make a left turn. So, negotiations need to begin online or on the phone.
I guess I have some more leverage, now. If there are any salespeople out there who recognize my situation and recall talking to me, expect another phone call! If I haven't spoken to you, yet, but you're willing to make me an offer similar to the one above, contact me here. I'm interested in the color Natural Khaki, but will consider a few others.
We're in Monroe, CT, a little over 100 miles from Denville. This deal is worth the trip.
We don't have any prior experience with the dealer and are getting the internet offer that they make to everyone. (Can't imagine trying to successfully negotiate a beter price)
I'm still a little leary that the price quote of $16,600 will be one of those deals that you had to be in the right place at the right time for... One reason for my scepticism is because the invoice pricing I am going by from kbb.com and nadaguides.com shows the difference would be $4289.
I'll keep you posted.
A lot of gross-profit stores will sell their vehicles online under invoice of sometimes even at a loss if they sell enough to recupe their stairstep money from Hyundai.
FWIW, I work at a one-price store, so my pricing to folks is the same as if they walked upon the lot.
If the dealership is selling and SE for $16,600 you need to jump on it!!
I say that because our cars are all under invoice, and a Sonata SE is $17,986. We don't have doc fees or anything so that's not applicable.
Oh, and do NOT pay extra for the XM - it's standard equipment.
And heck, if ya want heated seats have those installed at a good aftermarket shop. Heated cloth is doable, the Santa Fe and Elantra has it on certain packages.
I believe this is "internet only" pricing as you state. But it works for us. Assuming they are a high volume dealer, probably getting extra $ based upon volume, it works for the dealer too. Under traditional shopping, we never would have looked at a car from a dealer 100 miles away. So, they pick up an extra sale. Who knows how many other similar sales they make?
According to hyundaiusa.com site the MSRP of the SE increased $350 when the "SE" was "discontinued" and replaced by the "SE XM". Cars with XM are now standard and include channel changing ability on the steering wheel and, according to the dealer, also include floor mats which were an $85 msrp option on the cars built before XM came about in December (?).
Elvis, my good man, we didn't even negotiate with Key.