2013 and Earlier - Hyundai Sonata Prices Paid and Buying Experience

haller4

Thanks.

Forgot - Automatic (wife won't drive stick)
6.75% Sales tax (must be calculate before 2K rebate)
250 Doc Fee
20.50 Tags

mdm4

Are we talking about the same extended warranty from the Hyundai dealership in Staten Island, NY for $660? I was told that it is a Hyundai warranty can you plese tell me more of what you have heard? Thanks, Mark

worldly

I'd like some feedback from the membership on the following dealership ad that appeared in the San Antonio Express-News (Page 7F) on June 17, 2007.

2007 Hyundai Sonata; $13,995 + TT&L

Fine print in same ad reads, as follows:

MSRP: $18,980
Dealer Discount: $1,485
Origination Fee: $3,500
Sale Price: $13,995 + TT&L

COMMENTS: I'm in the market for a 2007 Sonata, but this price in the ad is far below any price I've been previously quoted in the San Antonio, Texas area. Hence, I'm skeptical. I plan to pay cash for the car.

QUESTIONS: What is an "Origination Fee?" Could this heavy discount apply to a Sonata that's financed through their "high-interest-loan" source, only?

Like many on this forum, I dislike negotiations with dealership salesmen. Before confronting the dealership with the price of this advertised Sonata, I'd like to get the advice and commentary from knowledgeable members.

Any comments and advice are appreciated.

In advance, thank you for your time and assistance.

chuck1

I don't know what an "Origination Fee" is in this context. In a real estate loan that is the amount they charge you to acquire a loan on a piece of real estae.

Still, I can't imagine they are trying to "tack on" a profit of $3,500.00.

What I would do is - in writing (either fax or email) ask the following:

Is the car still available and what is the VIN number?

What is an Origination Fee?

How much are "Doc Fees"?

Good luck!

backy

You do need to get more details from the dealer, preferably from the Interet sales manager, via email.

FWIW I saw an ad in my local (Twin Cities) paper this weekend for a Sonata (I assume a base model, no AT or options mentioned) for $13,995. No special fees were mentioned. I assume it's a "one only" stick shift kind of thing, a loss leader to drive people into the store.

So it might be legit, just get everything in writing.

heiferboy

I recently have done some research regarding Sonata in TX. I am not sure the meaning of "Origination Fee", But, I also got the explanation about $3500 discount called HMFC Balloon Note finance from one of Hyundai dealers in DFW area. I think they are the same thing.

"The total saving offered from Hyundai for this vehicle is $3500. There is a $2000 rebate if you finance with HMFC. There is additional $1450 available from Hyundai. If you particapte in a special ballon financing program. That's how the $3450 total savings is offered. "

By the way, this offer is honored by Hyundai and has nothing to do with the dealer. Please see #3715 for more details.

alamocity

I too saw that ad and am familiar with the dealership so would be interested in learning what they tell you. Have you tried the other Hyundai dealership owned by Red McCombs?

craigbrooks

mdm4,
I heard that Hyundai is using an outside company to offer their extended warranties and that the company they are using is very very bad. Do you really need the extended warranty? The powertrain is covered 10/100. I personally would just stick with the factory warranty. I bought my 06 used with 14K on it and did not buy an extended warranty. I sell the extended warranties and could have gotten it at cost. I figure 5/60 is good enough. Everything I've owned in the past came with 12/12000 (now I'm giving away my age) or 3/36000 on the newer ones. Although $660.00 is a good price if it covers everything on the car for 10/100000. ASK IF IT'S A HYUNDAI WARRANTY. LOOK ON THE BROCHURE TO MAKE SURE IT IS NOT JUST AN AFTERMARKET PRODUCT.

Follow this link to some very good info.
http://www.hyundai-forums.com/t12123-st-20-is-there-an-hyundai-backed-extended-warranty.htm

sonny65

I'm new here, so excuse me for asking a dumb question---but what does TTL have to do with the deal being good or bad ? In as much as each State, County or Municiplatily has their own various tax percentage rates on purchases & varying licensing & title fees---how does knowing these numerous fees & rates help someone evaluate a great or good deal. Shouldn't it be based on the selling price of the vehicle itself ?

jack47

Shouldn't it be based on the selling price of the vehicle itself ?

Yes, absolutely.

The problem arises when a poster quotes only an OTD price without quantifying the actual price paid for just the car itaself.

Of course, taxes, doc fees amd license fees are different in every location.

dan41

You are correct and, for the reasons you stated, the posted price paid should exclude TTL. Doing so, I believe, is the most accurate way for members to understand what others are paying.

When a trade is involved in the deal, the true price paid is often skewed.

Regards:

dan

bhmr59

That's not a dumb question. But doc fees should be included (stated separately) because some dealers will low ball the price and make it up in the doc fee. Dealers can't mess with the sales tax, however they can add additional processing fees for the paper work in obtaining a title and registration.

My preference is to see the sales price, sales tax, doc fee, title & registration fee and a detail of any rebates that may apply. To me, this gives the clearest picture of what someone actually paid. We bought a second Sonata a few months ago and qualified for the $500 owner loyalty. That rebate was not available to all and could mislead members if it were not detailed in the price paid.

We've all seen uninformed people quote an OTD price, only to find out that there was a trade-in involved or that there was a doc fee of several hundred dollars that had to be added, or some other hidden charge.

One of the best (funniest) is the people who bought a car that had a dealer added sticker and they were happy to get X off of sticker which only brought their price down to full MSRP + doc fees.

craigbrooks

Just for your info a dealer can't really make it "up" in a doc fee. They can if the fee is high enough but they can't change it for every car deal. The doc fee MUST be constant or they face litigation from others who have purchased at that dealership. Our doc fee is $149.00. Even employees who can buy at cost pay it. Used to be $33.00 then the owners saw the benefit of more $$$. I've heard of doc fees in the $300.00 + range in our beautiful city.

I wanted to say this earlier in the post but didn't...don't worry about an 06 Sonata as long as you drive it. Ask your salesman to let you take it home overnight. If you have no noises after driving it 30 - 50 miles, over different roads and starting it in the morning cold, buy it if the price is right. Be sure you want to OWN this car, put it in your garage and let your friends see you in it. This is a great car, don't be afraid of it because it's an 06 and you check it out, you'll be getting a GOOD deal I'm sure.

Good luck!

atall

Purchased the GLS with Spors Premium Package (Option 4). MSRP was $21,030. Got it for $16.6K + ttl. I think I got a pretty good deal. Total came to just over 18k. Car looks good and drives pretty smooth.

nostradumass

I am offered a v6 sonata ltd with ult and package for $21900 + ttt
this seemed like a good deal to me.

sonatafan63

I just got a 2007 Sonata Limited w/ XM premium package(sunroof, infinity 6 cd, chrome , spoiler) bright silver black leather interior for 19,000 + taxes and reg fees. OTD at 20,800. Is it me or is this an insane deal?

gocats911

Hello,

I am also in the market for a 07 Sonata. Could you let me know from what dealership you were quoted the price?
I was offered $16,800 for 07 GLS with premium package from Morrie's Brooklyn Park Hyundai. I think $15150 is a good price.

Thanks,
gocats911

backy

Why do you think $15,150 is a good price? Have you seen other deals in the Twin Cities recently near that price? What other dealers have you talked to?

rick2456

Sounds like a fantastic deal. I paid about that for my Sonata SE (pre xm) with the preferred package.

greatvis

We went to Elgin Hyundai, IL for buying the car. The dealer started with a confident price quoting it incredibly low at $17,900. We simply told him that we read on the internet blogs that other are getting it for $16,500 and added that with the power of the internet, we know you can do it. Next thing I know - he went to his manager came back 15 minutes later and said "You have the deal $16,500+TTL it is" for the GLS Sonata Sports package. Got the gas filled up gave us the keys and we were very pleased with the deal. The total after taxes was $18M after rebate. :shades:

Didn't have to haggle much.. just talk smooth, calmly and explain how the internet has open information on these things.

The whole experience was very pain-free and pleasant. The sales-rep was happy... the manager was very pleasant to talk to... and he came over and talked very nicely. Overall it was really exceptionally good unlike the first time when I bought the car in 2003.

craigbrooks

Congratulations on your deal and your new car! Welcome to the club.

nostradumass

now they are saying I can get a LTD with the PLAT pkg for 21500+TTT

jefferson1964

The 2008 are on the Lot. I went to the dealer today 06/21 and they had just unloaded their first shipment of 2008 Sonata's. Look pretty much the same to me...but they were still covered in plastic for the most part.....

gmctruck

I wish that was the case in my area. I'm trying to decide between getting a greatly reduced price on a 2007 limited w/V6, or waiting for the 2008 model to arrive so I can get the limited package with the 2.4 engine. One dealer tells me he has 2008's on the way, the other dealer says they won't have any 2008's until they clear out most of the 2007's. I don't care much for anything they have sitting on the lot right now which is making my decision harder.

xj220

You purchased a 2007 Sonata with Platinum Package in Black? I own a 2007 Sonata w/ Platinum Edition Package and at the time, it was only available in Bright Silver. I always thought it was only available in that color (hence the name "Platinum" Edition). Has this changed?

jefferson1964

I purchased a Sante Fe on Saturday evening and upon driving home 5 miles the check engine light came on. I took it into the dealer and they kept the SF and called me today. They told me its the only SF they ever had with an internal short and that i could pick out any vehicle on the lot and they would make it up to me. I picked a $21,500 MSRP Sonata which they promptly discounted to $15,500 OTD...IM HAPPY....

prince11

I just bought a new 2007 GLS, automatic, base style in Texas.

MSRP 19280.
Sales price $17,000.
Rebate $3500 (using Hyundai's balloon financing)
(Rebate would have been $2000 otherwise).
Price of car without TTL $13,500
TTL and other fees = 1056.45
OTD price $14556.45

This is the best price I could manage after getting several quotes.
I'm still a little uneasy about the balloon financing, but I couldn't resist the extra $1500 in rebate.

jefferson1964

I took the extra $1,500 also....tried to get the military discount but said i had to be active duty. Last time i purchased a car a couple of years ago i just needed to be a Veteran now everyone is saying active duty....

The only negative about the balloon is the mileage limitations. However, the dealer told me it would only matter if I turned or traded in the car. However, if i refinanced the remaining amount they said i could be over the mileage with no penalty. So to me it was a no brainer on the extra $1,500 as it was free money so to speak and the $170/month payments are hard to beat....

shakirhyd

Hi,

I just bought a 2004 Sonata GLS V6 for $9500 in CA. It had just 28000 miles on it. Do you think it's a fair deal?

Also, any pointers on the maintenance front would be really helpful. Also suggest if there are anything specific, that I need to use (Specific Oil) etc. The seller also tells me this has got 5 year bumper to bumper warranty. Is Hyundai's warranty really good?

Appreciate your help!
Shakir.

tuggers

Thanks for posting the checkbook site. I have been looking for the 10yr/100,000 miles -0- deductible warranty. My dealer started at !595 and went to 1204. thanks to this site I have a quote of 759 on a Santa Fe Limited.
Thanks!

backy

Verify whether the car has a 5-year bumper-to-bumper warranty, or (more likely) the remainder of the Hyundai factory warranty. If so it would have 32,000 miles of warranty left, or five years after the original in-service date, whichever comes first.

If the car has its original manuals, they include a recommended service schedule. The next major service coming up is 30000 miles. You'll want to be sure to perform the Hyundai-recommended services because they can deny a warranty claim if they can prove that a problem with the car is linked to lack of maintenance.

rns

Hi,

I'm looking to buy 2007 Sonata GLS + Premium Package. The Price he has quoted to me is 16,300 OTD. The tax in my area is 6.5%, Doc fee 58 and Title is 148. I would like to know if this is a better deal. If not I would greatly appreciate the following:
1.Price I need to negotiate to
2.Recommedation of the Hyundai Dealer. I'm in Lake County,IL.

fwallets

I'm also interested in purchasing a 2007 Sonata using a balloon financing in Texas. Is there any restriction in terms of refinancing? Or get I just pay it off, say, after three months? Thanks.

twl

I am also interested in going after the balloon option. What are the terms for the current offer in Texas (rates, terms, down payment and final balloon payment)? BTY, how much for the "termination" fee? Thanks.

prince11

Texas Balloon Addendum

This addendum is part of the attached retain installment contract, dated _________ entered into between __________________ (Seller), on behalf of itself and any assignee, and _____________ (Buyer). The vehicle described in the contract is as follows:

2007 Hyundai _____________ vin #

Unless the Context of this Addendum requires otherwise, all words used in this Addendum have the same meaning as in the contract.
1.Notice of Balloon Payment:
The contract is not payable in installments of equal amounts. A scheduled final payment of $ ___________ (About half the vehicle price for me) (“Balloon Payment”) will be due on _______________ (24 or 36 months from contract date usually) (“Balloon Payment Due Date”).

2. Balloon Payment Options
A. Refinancing Option
Instead of paying the Balloon Payment, you may refinance the Balloon Payment as set forth in this paragraph provided that you are not in default under the contract. You must advise us of your intention to elect this option and execute a refinancing agreement 30 days prior to the Balloon Payment Due Date. If you elect to refinance, the terms of the refinancing will be set forth in a supplemental refinancing agreement to be entered into by you and the creditor. If the vehicle being purchased is a new vehicle or it is used primarily for business or agricultural purpose, the annual percentage rate (rate of time price differential) at the time of refinancing may increase, but it will not exceed the lesser of: (1) an annual percentage rate of five (5) percent per annum more than the annual percentage rate of the original contract; or (2) the maximum rate authorized under the Texas Consumer Finance Code. You will be able to refinance the Balloon Payment in not less than 24 equal monthly installment payments. Other terms of the contract may change. The refinancing may also be for any other period or time and payment schedule to which you and the holder of the contract mutually agree. If the vehicle being purchased is a used vehicle ..... ..... (I didn't retype this part since it is a new vehicle)
B. Sale Option
If you satisfy each of the following conditions, you also have the option of selling the vehicle to us instead of making the balloon Payment: (1) You must give us at least 30 days' advance written notice of your intention to deliver the vehicle to us instead of making the Balloon Payment; (2) You must pay a disposition fee of $ ______(Mine was $400.00) and, except for the balloon Payment, pay all amounts owing under the contract as of the Balloon Payment Due Date; (3) You must deliver the vehicle to a place we designate within 5 days before the Balloon Payment Due Date, together with any documents we require in order to transfer ownership of the vehicle; (4) There must be no liens on the vehicle other than ours; (5) If the vehicle's odometer reads greater than ____________ miles, when you deliver it to us, you will pay us _______ (mine said 0.20) cents per mile for each such excess mile; and (6) If the vehicle is not in “good running order and condition” when you deliver it to us, you must pay us the amount it costs us or would cost us to put the vehicle back in good running order and condition. To be in good running order and condition, the vehicle must have, among other things, no scratches, chips, cracks, or other damage or defects to the glass, body, or interior, beyond normal wear and tear, and all electrical and mechanical components must be in good working order. If you deliver the vehicle to us in satisfaction of the Balloon Payment and meet all the conditions stated above, we will have the entire risk of loss or benefit of gain if and when we dispose of the vehicle. The Balloon Payment may be less than what the vehicle will be worth at the time the Balloon Payment is due.

___________________________ (Signature line)

twl

Great information. Thanks.

prince11

These can have lots of variations. They can increase the payments but the balloon payment would decrease (within the same interest rate and credit rating profile). These are about what the interest rates were running when I purchased my vehicle.

Tier 1 = credit score greater than 740.
2 year note + balloon payment = 4.85%
Payments on $15,000 loan amount (no down payment) = about $280 per month
Balloon Payment = about $9,400 (Due at 24 months)
3 year note + balloon payment = about 5.4%
Payments on $15000 loan amount = about $225 per month
Balloon Payment = about $8900 (Due at 36 months)
Tier 2 = credit score somewhere about 680 to 740 (Just a guess)
2 year note + balloon payment = about 5.4%
Payments on $15,000 loan amount= about $285 per month
Balloon payment = about $9,500 (Due at 24 months)
3 year note + balloon payment = about 5.9% interest rate
Payments on $15,000 loan = about $230 per month
Balloon payment = about $9000 (Due at 36 months)

nostradumass

traded 04 santa fe 27330 mi exl condition
no sun roof

took home new 07 sonata platinum ed w/mud flaps

$8900 OTD

greatvis

Posted before - you can get a 2007 GLS Sonata + Sports package (It is above the premium package) for 16,500. The difference between the sports package and the premium package is around $200 - $300. We went to Elgin Hyundai to get our car.

bobad

Congratulations. That's a heck of nice car for the price.

rns

Thanks for the response.

Couple of questions:
1.What is the City mileage u r getting on this new car?
2.When did u buy this car as this will let me know if I can negotiate for the same/better deal.

Once again your response is appreciated.

fwallets

Thanks a lot for this information. So, this means that I can pay the entire amount after a couple of months--essentially taking extra $ 1,500 discount for three month interest at 5-6%. Am I correct?

email_me

I am looking to buy a 2007 Sonata GLS I4 with auto transmission and no packages in the DC area. What would be a good price excluding taxes? Any suggestions on dealer(s) to approach would be highly appreciated.

bhmr59

Since you're in the DC area, your best bet is probably Fitzmall.

You can likely do better elsewhere if you're willing to drive 3 or 4 hours each way. Fitzmall's prices are very good. It's just that some dealers are even better.

email_me

I don't mind driving 3-4 hrs, what dealers would you recommend. Has anyone bought a similar configuration in the DC area. Are fitzmall prices fixed, can you bargain for a price lower than the one quoted on their website?

bhmr59

Fitzmall prices are fixed, just add $99 doc fee and title, taxes & reg.

Towne Hyundai in Denville, NJ usually has better prices. Check townehyundai.com to see their current below INVOICE price, then add $189 doc fee and TTL. If it looks good, call them to say you saw their internet price. (They love their internet sales and actaully mentioned this site when I drove a friend of mine down to pick up in his Azera 2 months ago, suspecting one of us had been talking about them on this site.) The people were great, can't mention their names here, but one was the sales manager not the internet sales manager.

Their current offer is $3500 (including rebates) under invoice. If you qualify for loyalty rebate, that will be another $500 off.

iceidl

Sorry to hear about your nightmare experience with Brad Benson Hyundai dealership. They are crooks and con artists. They are like vultures. They tried to pull a fast one on my neighbor on June 25, 2007. they tried this scam...Spot Delivery, a description which refers to the dealer placing a consumer in a car "on the spot", to get the sale, only to "yo-yo" them back at a later date for additional funds. Played to perfection, a dealer can reap thousands of dollars in unearned fraudulent gain. My neighbor was lucky enough not to put excessive mileage on the car and was able to return the car. They tried harassment and intimation tactics. My neighbor was told you can't return the car you own it. Financing was never approved nor signed. Legally one has to right to return the car and she did. For those who had a terrible experience with this dealership...please go to this link on U Tube watch the video and post your frustration. Brad Benson is angry this video is up on U Tube. My advise to anyone buying a Hyundai in New Jersey...stay far away from this dealer. Brad Benson shame on you.

Here is the link.

http://www.youtube.com/watch?v=jMu9HSsYF9E

rns

I have one mre question: is this price OTD or the just the base price and then you have to pay Tax+Title+Doc?

huskers2007

Are you saying you got the price down to 17K without the Rebates? Is there some sort of hidden rebate? Dont know how you got from 19K plus down to 17K without using the rebates. Anyone know of a good dealer near omaha.

email_me

What are the chances of Hyundai keeping the $2000 rebate beyond July 2nd?