2013 and Earlier - Hyundai Sonata Prices Paid and Buying Experience

johnsodyssey1

Help, I have been offered a 2007 Limited Platinum Edition for $21,800 after $2,500 rebate, before taxes and fees. Is this a good offer?

robert1955

Invoice is about $24,400 so its not a bad deal, you can do better if you work it some as I am sure the dealer wants the 07's off the lot. As a reference point I got my 07 SE at a deal start price of $19,700 before rebate. Cars Direct has a tgt price of $21,866 so if you want it go for it as you are not getting killed on the price.

godeacs

Where are getting a $2500 rebate? I only see a $1000 rebate unless you are active duty military (another $500)..... :confuse:

fatm1ke

Looks good, I'd go through Hyundai financing and get another $500 off, and if you have a direct family member that has a Hyundai you can possibly get another $500 off. I'd try for

21,800
-$500 Hyundai financing
+ Tax / DMV fees

Whatever fees they throw at you say you don't want to pay em. Why would you pay them to do their job anyways? They're already making $500 off of the preferred package, not to mention dealer incentives and holdback. If they don't go for it you may have better luck by the end of the month. (when they're trying to meet sales #'s to get those manufacturer and personal sales bonuses)I think they'll go for it though.

fatm1ke

You're probably looking at the 08 discounts. The $2500 rebate is good until the end of the month for all 07 Sonatas.

joeg1

It is also possible that a dealer is receiving a customer satisfaction incentive. I don't know if this applies to Hyundai dealers but in a recent edition Crains GM dealers with high customer satisfaction scores were receiving hundreds of dollars per vehicle sold.

http://www.crainsdetroit.com/apps/pbcs.dll/article?AID=/20070910/REG/70910002/-1- /top10

effect18

I bought my 2007 Platinum Edition last month for 23,300 OTD. So your price of 21,800 plus tax ($1,308) plus fees should put you in about the same range. I have seen people posting better prices, some say they have gotten it for 22,500 OTD. So if they wont budge on the price, make them throw in some mud guards(i wish i would have) and a cargo tray(cool rubber mat for the trunk that protects the carpeting).

Here's another hint, dealers are offering the $2,500 rebate on 2008's. When my salesman couldnt find the 2007 Platinum, he said "ah well, we'll just have to take a hit on a 08." I asked, you can do that? He said, "if your gonna buy it, we're gonna sell it to you" Not to mention, they will be remodelling the Sonata for 09, so negotiate accordingly. Just know, the 08 will have everything the Platinum has, but it wont be a Platinum(they were only made in 07)

Good luck, and its a great car... you'll love it!

worldly

The following advice from fatm1ke is the best I've read on this forum. The advice is contrary to many who make a living posting on this forum (while simultaneously contradicting themselves), and providing advice that makes the dealerships appear to be your best friend:

"The tactic "this price will stand until tomorrow" is bogus. They're trying to make you feel like you're getting a special deal and want you to make a quick purchase.

Look around and find what model and features you want. Once you've picked out a car you want, go to edmunds.com and price the car in your zip code with the options you want. Doing this will give you the invoice price of the car, and the price other people are generally paying.

I'd set a goal of paying edmunds invoice price, minus rebates, plus tax/title. Contact dealerships by email/phone and see what they're offering. Most of the time you will get a otd price $1,500-$2,500 more than what it costs them. If you're happy with invoice + tax/title - rebates then give them that price, and say you won't buy unless they will meet it. If they don't, talk to a different dealership, see what they say. Once they know you're willing to buy the vehicle, the price being the only problem, they will meet your requirement, or they will get as close as they truly can. Once you get the price you want, don't be afraid to again call up their competitors and see if you can get another $100+ off or so, maybe some free oil changes, etc. That's up to you though, even when they seem like they won't budge, there's usually something more you can squeeze out of them

If the dealership gives you a guilt trip claiming they aren't making any money because you're getting the car for invoice and not paying any other fees - play them the worlds smallest violin. Dealers make money by getting those vehicles off the lot, holdback, inventives, etc..they're doing fine. The salesman may be disappointed because he's not making $1,000+ by selling you an overpriced vehicle, but F him, let him overcharge someone who is willing to pay more for having their asses kissed. Don't be afraid to walk out, 9 times out of 10 if you can't work out a deal they will call you back offering you a lower price. Just don't rush a purchase."

Thanks, fatm1ke, for adding much needed reality and sanity to this public forum.

jack47

The tactic "this price will stand until tomorrow" is bogus.

It's not bogus.

The price stands until the next day...but if you don't buy at that price today it will be lowered...nine times out of ten...tomorrow.

But you knew that.

Or should have.

schandai

I read that after you buy a new car, Hyundai will send you a dealership satisfaction survey. Well, it's been almost three months since we bought a new 07 Sonata GLS I4Auto, and we have not received anything yet.

My questions are:
a) Anyone out there who bought new and did not receive the survey form? Has anyone tried to contact Hyundai USA to get one?
b) If you did receive survey forms, how long did it take from the date of purchase?

snakeweasel

Well lets see I bought my Elantra over 7 years ago. I still haven't received mine. Maybe it will be in Mondays mail.

My advice is don't sweat it. If it comes fill it out send it in. If it doesn't come don't worry.

sandman46

Ithink that the surveys are sent out randomly. We got one when we bought our '05 Mazda 3s but not when we got our '06 Civic. And from the two earlier posters and the fact that neither got the survey just leads me to believe it's a random choice on the part of the manufacturer.

The Sandman

pass_age

I got an offer for (2.4L, I4) 08 Sonata Ltd/w mats for 21,500 OTD in NJ..
Is this a good deal?

Also, can I get HMFC financing with the $1000 rebate?

nthe

" The salesman may be disappointed because he's not making $1,000+ by selling you an overpriced vehicle"

no hyundai new car salesperson is making 1000+ on a new hyundai, there just isn't that kind of markup in these cars. Most of the new hyundai, the salesperson is making a mini if you buy at invoice or sticker.

fatm1ke

The difference from MSRP to what invoice is is about $2,000 difference from what I've seen. Someone is getting a nice bonus out of your pocket when you pay MSRP, doesn't really matter who now does it.

I assume you work in the business since you called the money the salesmen makes off the deal a "mini". I paid under invoice for my Hyundai, the salesman told me he's only making $100 on the sale and asked if I get a phone call from the dealership after the sale to put in a good word for him. He was a good guy, so I did. I don't know if he was blowing smoke up my [non-permissible content removed], but if it was true, I imagine he would of made a lot more than $100 if I would have paid 2.5k more at sticker.

bhmr59

As a follow-up, when we bought our '07 Sonata last Feb. we paid $1900 UNDER invoice and then subtracted $2500 in rebates. The manufacturer rebates obviously don't come out of the dealership or salesman's pocket, but the $1900 UNDER invoice came from somewhere. AND, it can't be the dealership or salesmen otherwise they'd be out of business in no time. There has to be manufacturer to dealer incentives in addition to the 2% holdback. Volume bonuses, monthly and/or quarterly come to mind. Isn't there also a "step" bonus involved? Something like $X for the first A # of units, $X + $Y for the next number of units and so on?

If that isn't the case, how can dealerships like Towne Hyundai and Fitzmall continually offer UNDER invoicepricing month after month, year after year

tonycincy85

what did you end up doing? i'm trying to get a deal going at superior right now. hopefully, i can get into something by the end of the month.

cmomm44

I figure your payments on 12k financed, as you say, @6.85% for 72 months should be $235 per month not $204--(diff of $2232)--where am I wrong?---you made a good deal but the figures don't jive on my calculator??

saint134

Purchased a Golden Beige 2008 Hyundai Sonata 4cyl, AT, with Option group 02 (Popular Package), Carpeted Floor Mats and Cargo Mat.

From the window sticker:
$18,745 MSRP before Options
$650 Popular Package
$85 Carpeted Floor Mats
$90 Carpeted Mat
$650 Inland Freight & Handling
$20,220 Total MSRP

$19,497 Invoice

($1,000) Cash Incentive Rebate
($500) For financing through HMFC

Paid:
$16,009 Before Tax, Title, Dealer Fees etc.
$17,245 OTD (No trade-in)

Also, Credit Union pays $100 to refinance through them which I will do in a month or two.

Kirstie_H

A reporter with a large newspaper is hoping to talk to consumers who are looking to purchase a new midsize vehicle. Please reply to ctalati@edmunds.com no later than Thursday, October 18, 2007 with your daytime contact info. along with what car (or cars) you are considering purchasing.

wayne21

My brother does financing for cars and I recently had a lengthy lesson. There is far more money in this than the average person realizes. He says if the dealer can sell the car for invoice they stand to make 15 to 20 percent - and maybe a little more if they sell a lot of them. He also told me the company makes several hundred dollars for processing the loan. Would it not make sense that they would make more on the car than doing paperwork for a loan? He pointed out to me the difference between trade-in value and retail value - often several thousand dollars. The dealership stands to make more from its own car than from a trade-in. He told me that if a salesman is not making over $50k annually at the dealership that he really should be doing something else. How can they make that kind of money when they are selling cars "at or near invoice"?

worldly

QUESTION BY wayne21: How can they make that kind of money when they are selling cars "at or near invoice"?


COMMENTARY: Using fatm1ke's words, there are several ways a salesman (and dealership) make money. Consider this part of his recent post:

Dealers make money by getting those vehicles off the lot, holdback, incentives, etc..

The "bottom line" is dealerships sell below invoice, but receive significant income from their respective manufacturer after the car is sold. This income is often referred to as "holdback, incentive, or rebate." Thus, a salesman can still do quite well even if the auto is sold well below invoice. If a salesman can convince you to purchase at an inflated price, he/she often pockets a huge chunk, at your expense.

For this reason, knowing the invoice price of the vehicle, as well as current rebates, are critical to your negotiations. For example, Sonata is offering a $2,500 rebate (until October 31, 2007). Given the state of the economy (e.g., possible recession and crisis in the housing industry), I believe these rebates will remain, indefinitely.

backy

May be worth noting that the $2500 rebate on the Sonata is on the 2007s. I don't know about your area, but in my area those are in short supply. The general rebate in most states on the 2008s is $1000, with another $500 if you finance through HMFC and a $500 loyalty rebate. That's in MN at least--may not be true for all areas.

sligg

How is it that the automobile is the only consumer product where the dealers invoice cost is so readily available from numerous sources and even the dealer himself.

It's impossible to get dealer cost on any other consumer product.

I'm wondering if "invoice" is a scam foisted on a gullible public: A collusion between manufacturers and dealers to extract maximum profits.

fatm1ke

Hard to say what the actual invoice price for a dealership is. My guess it's a few hundred dollars lower than the price you'll get online, but I really doubt it's such a significant amount that it could be labeled as some sort of conspiracy.

Other than just selling the vehicle for more than they bought it for, these are the ways I know how Dealers make $

I believe the "holdback" which is a certain % of the cost of the vehicle the dealer will receive once the vehicle is sold. I believe I read for most cars it's something like 3% of the cost. So even if the dealer sells the vehicle at cost they still make 3% off of the sale.

Now dealer to manufacture incentives are cash bonuses the dealer will receive if they sell X amount of vehicles in x amount of time. Maybe $10,000 or more if they sell 100 vehicles. I have no idea how many cars or how much the bonus may be, but I know it's a significant amount.

When you buy a vehicle they will usually try to convince you to buy an extended warranty, some sort of paint, upholstery or windshield protection, etc. If you buy any of these it can be safe to say that you're paying x10+ what it costs them. They might try to sell you a $200 upholstery protection package when you can just buy a $5 can of scotch guard at your local wal-mart.

Most dealerships work with local banks to work the financing for your vehicle. I can assume that when Hyundai will pay you $500 to go through their financing, then other financial institutions will pay the dealership *something. I can't claim to know how much it is, but someone once told me that if you have good credit the dealer will receive an additional bonus.

Anyways, I still love my 07 Sonata, I get compliments all the time. Good luck everyone, post those good deals so other people have a price to beat!

-Mike

alamocity

Here in my area they are advertising a $2500 rebate on the 08's (1500.00, then the same $500.00 for military and another $500.00 if financed through HMFC).

backy

As I said, rebates vary by location. Looks like TX (and CA and maybe other states) gets a $1500 general rebate on the '08 Sonata (vs. $1000 in some other states like MN), plus the $500 HMFC rebate, plus $500 loyalty rebate, plus the standard military rebate for those who qualify (and maybe the college grad rebate also)? Lucky, lucky!

jack47

I'm wondering if "invoice" is a scam foisted on a gullible public: A collusion between manufacturers and dealers to extract maximum profits.

Hard not to believe.

The Sonata GLS has a MSRP of $18,870 with an invoice shown as $18,063. That's a mark up of only 4.5%...

Now contrast that with the average mark up in the retail business of 100%.

worldly

"May be worth noting that the $2500 rebate on the Sonata is on the 2007s."

Just watched a TV ad, ten minutes ago, saying rebate on 2008s is $2,500, no conditions, attached. Central Texas.

Perhaps the rebate increase is spreading. HyundaiUSA website still has rebate for 2008 Sonata at $1,500.

backy

You have to watch those TV ads carefully. For example, was it from a dealer (those can be really tricky) or from Hyundai corporate? And was there any "fine print" (or fast talking) at the end?

I've seen some dealers in my area that advertise "double rebates" on Hyundais. Fact is, they are not all rebates at all, but they are combining the rebates with discounts that are the same amount as the rebates. Kind of deceptive, I think.

Take ads with a grain of salt until you verify them.

alamocity

I've seen those same ads advertised here, even go so far as list a web site that claims it is a manufacturer's rebate effective from 10-02-07 thru 10-31-07. Like Backy I suspect it's really a $1500.00 rebate that also adds a loyalty rebate and if you finance through Hyundai.

jack47

Sorta surprising that Huyndai is giving a $1500 rebate right off the bat with the '08s.

I'm in the market for eiher a sonata or an accord in a couple of months and am wondering if Hyundai is offering so much off so early...what will it be in January when sales normally slow down?

Or is Huyndai just trying to show a sharp gain in sales for their '08s and thereby be able to nationally advertise showing their increase over Toyota and Honda either in total sales or in percentage increase.

Time will tell.

mazda6dude

Looking for the best price in sacramento region for a new 2008 Hyundai Sonata GLS automatic with popular equipment package. I qualify for loyalty rebate. Whats the cheapest price including tax, license and fees?

mazda6dude

I am looking to buy a new 2007 (if there are any left) or 2008 hyundai sonata GLS automatic with popular equipment package. Can you help? I live in sacramento area. I got a quote for $17,600 so far. This quote inludes tax, license and fees.

bhmr59

Actually Jack, here in the US, the '08 Sonata has been "on the street" for 5 or 6 months.

Hyundai introduces the new model year at different times of the calendar year for different models. The '06 Sonata was introduced (early)in June '05 (or thereabouts). Model year changes seem to follow a 12 month pattern. The '06 Azeras were introduced (late)in 12/06 or 1/07. The '08 Azeras aren't out yet. Hyundai seems to follow a 12 month model year for introducing new model years, rather than follow the traditional introduction of the new model year, for all models, in late September or early October.

worldly

For what it's worth, my insurance company, who I've been with for over 30 years, has a car-buying service with many dealerships. The following is a quote I received, with no haggling, from Glendale Hyundai (CA). I believe this price can be beaten, but it's interesting they start at $600 BELOW invoice. Unfortunately, I'm in Texas now, and it appears the local dealers won't even come close to these prices. When I request the same information for Central Texas, either I'm ignored, or the price is FAR higher. If anyone's interested, I can provide the figures given for the exact same car in Central Texas (via USAA buying service).

2008 Hyundai Sonata 2.4L GLS Sedan 4D (Auto).
Your USAA Member Price is $600 below invoice regardless of which options you choose.
Price as of 10/25/07.
Does not include incentives. Make sure that your dealer includes all applicable incentives when calculating your member price. If your dealer does not have your exact vehicle as configured (e.g., color) in stock, your dealer representative can help you choose a similar vehicle. Your member price of $600 below invoice (plus all applicable incentives) applies to any 2008 Hyundai Sonata 2.4L GLS Sedan 4D (Auto) at your participating dealer. Navigation/Technology packages and Diesel/Hybrid engines may be priced differently.

VEHICLE AS CONFIGURED:
Invoice $18,764
USAA Price Adjustment: $600 below invoice
Incentives:($1,500)
USAA Member Price: $16,664
MSRP: $19,395
You save $2,731 off MSRP.

alamocity

I'd be interested in the prices you received from USAA in Central Texas, feel free to email me with the information. Thanks

worldly

"I'd be interested in the prices you received from USAA in Central Texas, feel free to email me with the information. Thanks"


When I request the exact same information from the USAA car-buying site for San Antonio, this is the information I receive. As you can see, there is far less information provided, and no mention of the recent San Antonio TV ad claiming rebates of $2500 on 2008 Sonatas.

I believe the San Antonio dealers are colluding to keep prices high. I have no direct proof of collusion, but when you compare the price data to the California dealer, there's certainly a huge difference.

Target Price: $17,664
The Target Price is for research purposes only. It reflects a typical, negotiated price generally found in your area for the vehicle that you selected (before taxes and other customary fees).
MSRP: $19,395

chuck1

So - does this difference warrant a plane or train trip to California to buy the car? It certainly looks like there is enough difference in play to at least consider this.....

alamocity

I think the biggest problem is that San Antonio only has two different Hyundai dealerships (one with three stores, other with two) so that definitely doesn't help and limits the bargaining ability. Have you tried any of the Austin area dealerships?

worldly

Have you tried any of the Austin area dealerships?

Take a look at the following website for Classic Hyundai in Round Rock, TX. Their advertisement is for $14,997 + TTL, but I bet it's a manual transmission. The Glendale and San Antonio quotes were for AT.

http://www.classichyundai.com/Specials-New.aspx

alamocity

You're probably right, did see that best hyundai in Houston is advertising one for $15,395.00 that is an automatic.

backy

There's also a big Hyundai dealership in Kyle, TX, about an hour away from San Antonio up I-35.

worldly

"There's also a big Hyundai dealership in Kyle, TX, about an hour away from San Antonio up I-35."

Yes, Capitol Hyundai (Kyle, TX), and they do a lot of TV advertising on San Antonio stations, but do not associate themselves with the San Antonio dealerships.

http://www.hyundaiautomall.com/HomePage

backy

You should let them know that you'll be buying elsewhere e.g. Houston or Round Rock, because their price isn't competitive.

But be sure you compare apples to apples, e.g. the price from Houston or Round Rock of a GLS with AT, since that is what Capitol Hyundai quoted. The AT alone adds about $1000 to the cost. Sometimes I've seen dealers advertise the MT Sonata as a loss leader, i.e. one only, knowing it won't be very popular, at a drastically reduced price. Also be sure the options are comparable on the quoted cars.

worldly

I asked for a VERY BEST "out-the-door" price on the following vehicle from Capitol Hyundai, Kyle, TX:

2008 Hyundai Sonata 2.4L GLS Sedan 4D (Auto)

Here's the response:

The "out the door" price is $18,817.

Thanks

(Salesman Name Deleted)
Internet Sales Manager
Capitol Hyundai


NOTE: IMHO, not a competitive price, especially if a Houston dealer is advertising $15,395 + TTL, and a Round Rock dealer advertises $14,997 + TTL (albeit a manual transmission).

This post was previously deleted since I inadvertently forgot to remove the phone number of the dealership.

bhmr59

No, it was deleted because you listed someone's name (the salesman's). Names of dealerships and their phone numbers are OK.

tenpin288

Actually, phone numbers are verboten also. Here's the Edmund's blurb about that.

You may include the dealership name, city and state in your post. Please do not post names of salespeople, telephone numbers, email addresses, or other contact information.

bhmr59

OK. sorry about that and thanks.

worldly

2008 Hyundai Sonata 2.4L GLS Sedan 4D (Auto)

I requested a price quote from Best Hyundai, Houston, TX. I based my offer on their online ad:

NOTE: their online ad shows a phone number and website, so by forum rules, I cannot print the URL of the ad, but you can certainly find the ad, if you're interested.

They advertised $15,395 + TTL. The fine print said "MSRP of $19,480, Best discount of $1,585, rebate of $2,500, with approved credit."

I assumed a part of the rebate was for HFMC financing (which I'm not interested in). Thus, I made an offer of $15,595.

Best quickly countered with $15,895 + TTL. With TX sales tax for new cars at 6.25%, and title/license (approx. $100), the OTD price should be about $17,000 (estimated).

For comparison, I received the following quotes (via Internet, and using my insurance company buying service), between October 15 and October 30, 2007, (2008 Hyundai Sonata 2.4L GLS Sedan 4D (Auto):

Best Hyundai, Houston: $15,895 + TTL (approx. $17,000 OTD)

Capitol Hyundai, Kyle, TX: $18,815 OTD (Dealer refused to break down individual costs, i.e., MSRP, rebates, discounts, etc.)

Superior Hyundai, San Antonio, TX: $17,664 + TTL (approx $18,870 OTD, estimated)


World Car, San Antonio, TX: $15,900 + TTL (Manual Transmission), (MSRP $18,280; $1500 Rebate and a $880 Discount), approx. $18,165 OTD, estimate, and adding automatic transmission to total cost

Classic Hyundai, Round Rock, TX: $14,997 + TT&L (Manual Transmission); approx. $17,140 OTD, estimate, and adding for automatic transmission.

I'd like to emphasize these are estimates. Having never purchased a vehicle in Texas, there may be unknown costs involved (additional city/county tax ???), but I would expect them to be minimal.