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Go back, do not call, and talk to your sales lady and the owner of the dealership. Find out what happened here. If they do not give you the car for $21K tell them you don't want it because you were lied to and want to give it back. See what they do then. A lawyer can't help you here unless you have something in writing and if you did this would be a no brainer. Don't threaten them with a lawyer that will get you nowhere.
Other ones tried to load price up.
But go there & demand hardly what they've promised, you'll get it.
Fight for it. If not just leave the keys at dealership & see reaction.
Don't be nice guy.
*BTW - Who is it?:
Not Malloy's or Brown's?
Is it only because of good credit?
I don't have good credit
is there any chance to get 0% financing for 2008 sonata? :confuse:
Firstly, thanks for everyone posting your experiences it's definitely comforting to know what others success in this nerve-racking venture has been.
I stopped by the dealership tonight and feel like I was severely jerked around, so wanted to post what occurred and get others' feedback to see if I am expecting too much.
I am looking for a '08 Sonata Limited (I4, due to gas prices and cost)
Trading in my "Good" condition, '04 Elantra GT
My thoughts going in:
Invoice Pricing on an '08 I4 Sonata is $21,710 after destination charge.
TMV Pricing (on 12/28) is: $23,014.
I settled on a figure of roughly $22,300 for the car based on these two figures.
For my trade in, I figured I would get $5900.
Edmunds used car appraisal is:
"Clean" (Most matching description) - $6,323
"Average" - $5,420
Kelly Blue Book (for Dealer Trade-In) is:
"Good" (Most matching description) - $6935
"Fair" - $6,030
So based on all the above figured and to ensure there were not many issues with my expectations on what to expect for my Trade-In, I set the number at $5,900.
With that being said, I went in and met with the sales man. We walked the lot and determined there was a Sonata present that met what I was looking for. We went back to his desk to discuss the deal. He initially had me fill out a short paper with some information on it and he went to have my trade-in evaluated.
After returning the deal he provided me was:
$22,320 for the vehicle.
$5000 for my trade.
$1039 Tax
$109 TTL
He had ran my credit and as I suspected I did not qualify, he stated, for the 0%/72 month, but did qualify for a lower interest rate of 2.9% through HMFC on a 48 month term. He indicated the monthly payment would put me somewhere (I forget exact) around $450 per months. He stated in order to lock in this 2.9% interest rate that I would be required to put $4,500 down (to which any prior discussion around down payment I advised that I was not interested if at all possible in putting a down payment - so this was a bit of a shock!)
I immediately advised him that I would not be able to put $4,500 down on the vehicle and again was more than satisfied with my own car and was only there to see if I could get in to the Sonata for a monthly payment not substantially higher than my current payment of $250.00 per month. He took this in and started reworking numbers with no down payment included and I advised him to use a 72 month term. With the reworked numbers he said it still came to above $450 per month. This is when I advised him we need to start breaking down the cost of the car and the trade-in.
I asked about the vehicles price. Break down this figure. What is included in the $22,320. Where is the $1000 rebate? Where is the $500 Value Owner Coupon? Where is that in his equation. He stated these discounts were already applied to get to the $22,320 figure.
Stop the boat. What?
This is where I told him that, in essence, he is selling me the car then for the $22,320 price + $1,500 (rebate/coupon) = $23,820. Far above the $22,300 I aimed to purchase the car for. I told him this. He asked what numbers I had figured. I told him that invoice on the vehicle + destination charge was roughly $21,700. I said I figured to ensure that I am not asking for too much I would expect to pay $600 above invoice for $22,300. I told him THEN, I would receive my $1,500 in discounts giving me a final price of $20,800 for the car. NOT $22,320.
I then told him that I thought $5,000 for the trade-in was substantially shy of what I figured to get. I told him that through the various appraisals I have had done and research I have performed I was looking to get higher than this. At this point I told him $6300 for the trade-in. He quickly scribbled through the $5000 figure and said he would go to $5,500. At this point he got up and left for a short time and came back with the numbers re-worked.
Basically this occurred for about 15 minutes and the final deal he offered to me was:
$22,320 for the vehicle (after the rebates and everything, so he basically did not discount the car at all)
$5,500 for the trade
He then stated on the last deal that it would be required to put $1,000 down to receive the 3.9% financing. He previously stated that I did not receive a $500 rebate through HMFC as I did not qualify for the 0%, but at this point later, indicated now I did and could put this toward the $1000 being required down, and pay $500 cash. I told him this was not an issue but I still did not feel I was getting a fair deal. I told him I would think about it, of course, with no intentions of doing so as the mis-matched stories of rebates and not and at one point in the conversation my girlfriend asked "Do you have to pay the sticker price on the car?" and he attempted to state that yes, you do. I told him that most people may do that, but with some research you can often find that the sticker price is a suggested retail price and not typically reflective of the price you can ultimately achieve with knowledge of the various dealer incentives and invoice pricing.
I felt overall I was jerked around quite abit with sales tactics designed to confuse me with the various "requirements" to get the deal that was at that point being offered. Down payment required, then not. 2.9%, then 3.9%. Not clearly addressing where my rebate and value owner coupon is being applied, the inflated cost of the car and having a HMFC rebate or not.
So I come her confused and frustrated.
A) Were my original expectations too steep?
C) If you receive a deal of say, 3.9% interest as I was offered am I still able to use the $1000 consumer rebate and value owner coupon?
D) At this point he is scheduled to call me back tomorrow, how would you handle this? Part of me says to not answer the phone or answer it and let him know that regardless of what he was able to miraculously come up with and work out over the night/morning that I am no longer interested - or give him hard figures that I won't budge on and if he can work it, he can, if not - done deal.
E) I called my bank today and they were closed but the IVR indicated my loan "payoff amount" was $6,735 - the salesman stated it was $7,100. What would cause this discrepancy. I just made my payment 1.5 weeks ago and I am not charged $300/mo in interest, my current rate was 7.9%.
This is only the second time I have purchased a new vehicle and though I realize my approach is likely not the most graceful, it's honest and straight-forward.
So summary:
He states:
$22320 Price of vehicle ($1000 rebate, $500 value owner coupon apparently already applied)
-$1000 down ($500 rebate for HMFC Financing / $500 Cash)
-----------------------------------
$22320
-$5,500 trade-in
---------------------------------
$16,820
+ 1,093 Tax
----------------------
$17,913
+ $109 TTL
--------------------------------
$18,022
+$7,100 Current car payoff
-------------------------------
$25,122 financed @ 3.9%/72 mos = $390/Mo
Looking for advice,
Cargain
I don't know the details of the HMFC rebate, but the general $1000 rebate and value owner coupon should apply no matter what the financing is.
If I were you I'd find out when they close on Dec. 31, go in there about 2 hours before closing, and lay my "best and final" offer on the table. And see what they say. The attitude you used with the dealer--"I don't really need this car, but for the right price I'll do the deal" is the right one. Stick to it.
2008 Hyundai Sonata Limited V6 w/ Sunroof (Ebony Black/Black Leather Interior)
I feel like I got a decent deal and most importantly, purchased a car from a very straight-forward and honest salesman/dealership - to which, I really was beginning to think did not exist. This was a very smooth transaction and I would highly recommend Lee at Fred Beans Hyundai in Doylestown, PA.What a great experience and IMO an excellent dealership that I would purchase another car from. With that being said, here are the details of my deal, what do you guys think?
Edmund's True Market Value: $25,677
Edmund's Invoice Pricing: $24,170
Cash Delivered Price of Vehicle: $23693 (Before Rebates of $1000)
Total Cost of vehicle OTD (after Taxes, Title, Tags, GAP, etc): $24,451.
So I figured for roughly $300 more than invoice pricing on Edmund's I got GAP and all my taxes included ($1,081 + $130 TTL). I felt it was a decent deal and the atmosphere was nice.
Though they also indicated I did not qualify for the 0%/72 months they were able to get me 1.9%/72 months.
Overall I was pleased. I still think I could have done better in some regards but feel that this was fair for everyone involved.
Welcome to the club!
Either way they are financing for way below the true costs of money.
Enjoy your new car!!
I am not one for third part warranties either, but it looks like this one could be OK.
For more info -
http://www.jmagroup.com/consumers/consumers.aspx#
My recent experience (Dec. 20 to Dec. 30, 2007) in South Carolina was a horror story, comparatively. After extensive negotiations for the same vehicle, my FINAL offer was $17,100 + TTL (including HMA consumer rebate of $1,000, CASH, no trade). It was rejected. Final offer by dealer was $17,582 + TTF (note the "F" in TTF). The "F" was another $388 in fees, on top of Tax, Title, and License, to bring the dealer's final offer to $17,970 + TTL (included Hyundai rebate). I walked out.
Another dealer in South Carolina offered $19,444 (out-the-door, including rebate). I countered with $17,400, out-the-door, including rebate. Didn't even receive a reply from the dealer. Either they don't think I'm serious, or they prefer to wait for a sucker that will pay that price ($19,444 OTD).
I'm beginning negotiations with a third dealer. As a starting point for negotiations, I'm going to use USAA Buying Service, which claims I can get the car for $500 below invoice, plus TTL. At $500 below Hyundai Invoice, that would be $17,850 + TTL (includes rebate). That's still a far cry from $15,900 + TTL.
I believe there are regional price differences. However, should there be a $2,000 regional price difference? I don't think so!
The '08's have been out since (around) June so you should be able to get a severely reduced price on an '07. We got an "new" '07 Sonata SE (6 cyl) for approx $5400 below MSRP ($4400 below invoice) last February.
I don't mean to rain on your parade but if the car carried the new vehicle warranty since in service ie; the dealer you will be second owner. That's ok since you will still get the 5/60 bumper to bumper. I hope for your piece of mind that YOU do get the additional 10/100 without having to pay extra for it. If you have to pay stick with the 5/60 and bank the money they want in a money market. In 10 years you could pay for a trans or engine.
Congrats on your purchase and welcome to the club. :shades:
Check it out. Might be worthwhile, might not.
SERVICE DATE." I asked several times about both the 5/60 bumper to bumper and and 10/100 engine/pt and even ended by asking "that means that I will get 10 years minus the 3 months or so you have owned the car and 5 years minus the the 3 months or so you have owned the car." The response was "yes" with an attempt to tell me the exact date they had acquired the car (I say attempt because the person I was spekaing with was having trouble with the math and I stopped him), and the exact number of months on the warranty." I suspect that their ability to give this has to do with the fact that mine is essentially a new car. It has exactly 4 miles on it though I was told I should expect a little more, since they had to drive it over to get gas and something else. He said that when I picked it up it shoudl have around 20 miles on it. I will call consumer affiars once again to make sure that we all have the story right. But I would be very surprised becasue we are dealing with a dealership that is 30 years old and they have such a high satisfaction rating and a satisfactory BBB rating. Also, I checked the dealer's other adds which say something like "the car carries themanufacturer's bumper to bumper warranty which transfers..."; there is no mention of the "full manufacturer's warranty." The only adds that I can see written as mine are are the cars like mine. I am flying out on Saturday to get the car.
Now, on the question of break in period. I read somewhere that you should not drive the car over 55 miles per hour whe you first get it Uugh... I have a 600 mile drive in front of me and i sure hope I do not have to stay at 55. What do you all think?
I flew to south Florida to buy my '05 Sonata (new) almost 3 years ago. My return drive was over 1300 miles. I asked the dealer about the 55 MPH thing and he said to not worry about it...just don't over 4000RPM. So, it was easy to keep up with traffic from south FL to CT on I-95.
Good luck.
Also remember, the factory warranty is a total of 60,000 miles so if you buy a car with 500 miles you get 59,500 miles for a total of 60,000 miles or five years whichever comes first.
As to the 100,000 mile warranty, I would have to see that guaranteed in writing from Hyundai, not the dealer. Once a car is titled, it is indeed a used car with immediate depreciation.
Negatives: There just aren't too many negatives to the car thus far. A bit more "plasticy" than other cars; but i had realized this before I purchased it, and still a very nice interior. if the Toyota and the Nissan Altima were like a fbirc with 80% cottone and 20% poyester, my Hyundai would be comparabel to the fabric with 60% cotton and 40% polyester. But it is still nice and pleasant and attractive. The seat can use a lumbar support. I imagine I will get accusotmed but if I do not I will just get a pillow or a mat of some sort. I have heard an occassional rocking sound from the back and I guess this is the gas floating around. But it is really very slight, not aways there at all and if I had not read about this I might not even have noticed. Headlights might be aimed a little low for very dark country roads, but in no way dangerous and simply not much of a problem. I must perfect my shifting; it has been many years since I regularly drove a standard. But I have only stalled a couple of times and I am now working on my smooth shifting into first and second. Actually, I don't think I am too bad at all.
Postivies: many! I find th 4 cyl engine is plenty powerful enough. Maybe not as quiet a ride as my Camry, but at least equal to the Honda Accord and probably a smoother ride than the Honda (aside from my shifting). Shifting into reverse with the mechanism they provide on the shifter is simple (you rais a little ring around the shifter and move it forward; no long pushing down and to the side asi n the old VW I drove or my daughter's Honda FIT. A good, solid ride. Makes me feel like the car is well put together; like I will have it for a while. Nice radio, even without the XM that comes with the 2008 models. Is this radio otherwise different from the '08? Lots of room without making me, a small person, feel like I am driving in my Dad's car. Security system. Traction control or stabiltiy contol... the car holds the road well. Good handling. The standard trans. is kind of fun. The price!! Now I don't think I cheated them or them me. For an 07 model with standard transmission, including my transportation costs and effort in driving, this probably was a very fair value. At the same time, these days do you ever hear of a new car like this for $14,000? I might also say that the dealer was excellent. They picked me up at the airport, prepped the car nicely, let me test drive it before giving them my final check, responded to every request regarding the warranty. I would go back for sure. So that has been my experience. Thanks for your interest!
Not by the car, but by how you handled the situation.
I hope you never need the warranty, but it's good to know you've got it--just in case.
Thanks. Your really pay for what you get. If not in money then in hard work. I choase to do the work--lots of time spent checking, lots of time online--and keep the bucks in the bank. You should also be impressed with the dealer; it is heartening to think of this.
Here is what I've been offered
2008 Sonata GLS I4 w/auto
MSRP 19705
Invoice 19036
Offer 16,605 including $1000 Hyundai rebate and Dealer $200 internet rebate
+TTL
is this a decent deal or not?
$2000 Rebate with 0% APR for 48 Month~~Check it out!!
You should able to get $15,500 for the Trim you mentioned!!
So it's an 'either or' type offer.