By accessing this website, you acknowledge that Edmunds and its third party business partners may use cookies, pixels, and similar technologies to collect information about you and your interactions with the website as described in our
Privacy Statement, and you agree that your use of the website is subject to our
Visitor Agreement.
Comments
There are a few here in NYC but I don't want to waste my time with the dealer who will offer initially but markup with bs stuff during financing. :sick:
Thanks
But I still wonder why Hyundai decided to come out as early as February 2008 with the 2009 sonatas. and, in so doing, is just about "giving" the 2008 sonatas away.
Maybe they figure they are going to sell a lot of 2009's (by coming out with them extra early and having them on the market longer than the competetion) and then in 2010 claim they sold more "09s then anyone else.
Who knows?
Obvious Question?? How much I paid?
I paid 14850 including Doc Fee, it is $289 in this dealership and it is pretty much same in all Oklahoma dealerships. I have to pay tax and tag extra. I wanted to pay in cash, but they insisted that I have to Finance through them at least 10,000 (5.4%) so that they can give me in that price. They promised there is no early payment penalty. I am going to pay it off in 1-3 months whenever I feel like. They in turn threw in Mio GPS C230 and floor mats.
I am pretty happy with the deal. Only think I didn't like is, it has 121 (One Hundred twenty One) miles. I bought a Honda Civic before which had <5 miles. I don't know whether this is an issue or not.
Wow, I did check that MN dealership. Their ePrices are pretty low and their inventory is pretty large. The dealers I checked here had maybe 3 average of the Sonata I wanted.
I spent about 4 weeks using email only to contact about 33 Hyundai dealers in IL, IN, MN and WI (I live in Chicago.) To keep the comparison shopping apples-to-apples I asked each dealer to provide their best price for a 2008 Sonata GLS Auto 4cylinder with Package 1 (no sunroof) and no demos. After I had 5 dealers with great prices (all under 16k) I started calling them one by one to get them to beat their competitors prices. After a week of this, I got a price of $14,998 for this exact car from O'Connor Hyundai in IL and Denny Hecker's Hyundai in MN.
Sticker price was $20,195. $14,998 is $5197 less than that! The guy at O'Connor told me that this was the actual cost that the dealer pays for the car. Whether or not this is true - it was a heck of a deal!
The closest dealers to me were Rogers Hyundai and O'Hare Hyundai, so I wanted to see if they could match that price. I went to Rogers Hyundai and drove a Sonata and the Salesman was extremely friendly, but the best they could do was $15,900. Sorry guys, I don't want to pay $902 extra! I called O'Hare and they agreed to the $14,998 price. I emailed the internet salesman to make sure I had everything in writing, and he responded in the affirmative. I drove out to the dealer this afternoon and another incredibly knowledgeable salesman showed my partner and I the three Sonatas they had in my configuration (08, 4cyl, GLS, pack1, auto, not a demo). Two were in colors we didn't like and they had one in black - our favorite!
After the test drive, we went inside, I showed him the email from the internet salesman and he drew up the paperwork with the $14,998 price. Then we waited for an hour while the loan guy ran our credit and prepared the financing paperwork and we enjoyed their free coffee free wifi.
The financing was blessedly painless. We were approved for the price of the car and we chose to put $2K down. We accepted Gap insurance (additional $595) but declined additional warranties (Wrap coverage is what they call it) and insurance that pays off the car if you die (morbid!). There was no pressure to accept the extra things ever. Doc fees were $150. The greatest thing was that they had real plates there at the dealership and they put them on then and there (no paper plates and coming back to the dealer in 3 weeks for the metal ones!)
While we were signing all the paperwork, I opened up my MacBook, went to Progressive.com and resumed a saved insurance quote I had already configured the day before. All I had to do was add the VIN and the lenders name, and I clicked "Buy Now" and was insured instantly ($403 for 6 months). I clicked a few more buttons and 30 seconds later the Loan Officer's fax machine beeped as our proof of insurance came in. He was pretty stunned!
After we finished all the financial paperwork we met back with the salesman who gave us our keys, operation manual, etc... He took us out to the car which had just been washed, had all the protective plastic removed and had a half tank of gas. He really took his time explaining all the features of the car. I thought it would be a waste of time, but there were a few I wasn't aware of like the multi featured trip computer, trunk lock/unlock interior switch and 60/40 seatback locks.
We drove off happy with our new purchase and filled with feelings of good-will towards everyone at O'Hare Hyundai and Hyundai in general for making such an awesome car!
Looks like you swapped maybe risking $1K-$2K if the car got totaled in the first year or two in return for guaranteeing to lose $595.
Very high cost in relation the amount of benefit it's providing.
That doesn't seem like it makes any sense except for the dealer to increase their profit in the sale.
Anyway, sounds like they did a good job of negotiating. I'm suprized that Patrick Hyundai in Schaumburg wasn't a player as they tend to advertise some very good prices usually.
$19500 at most minus $3000 rebate is $16500 minus $2000 down payment is $14500 financed.
Is an insurance company really going to pay that much less than the remaining $14K-$14500 loan balance if the car got totaled in the first year to justify paying another $595 for gap insurance? He could have also put the $600 spent on the gap insurance down and reduced the loan payoff and therefore also the need to have gap insurance.
But, given the historical depreciation rate of Hyundais, I'm sure he'd be more than just $1K-$2K upside down, if something happened to his car in the next couple of years...
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
You can look up private party value of a 2007 GLS automatic and see it wouldn't be that far under the loan payoff especially if he had put that $595 towards lowering the loan balance even more. The 2008 would be valued at least slightly more than the numbers shown for 2007s.
In CT, the cost is $27 per six month policy.
b612markt should check to see what Progressive would charge on his policy & if more attractive see if he can rescind it from his purchase.
I'm absolutely loving the new Sonata.
I think there's a lot of insurance companies who offer GAP coverage, because we have it with AAA and my co-worker have it with American Family. And yes, the coverage is a lot lower as compared to what dealers offer. :surprise:
As an insurance agent, I was just suggesting that people check with their insurance company about the availability and cost of GAP insurance before purchasing it from the car dealer. (Honda leases "include" GAP automatically, but it is fractored into the cost. Honda doesn't give a choice.)
My experience has shown that adding GAP insurance to one's insurance policy is almost always less expensive than purchasing it from the dealer. Plus, as the balance on one's loan decreases in relationship to actual cash value/replacement value, one may terminate GAP insurance if no longer needed.
I didn't need it on the '05 Sonata as we had a large downpayment and paid $17,826 OTD (including 6% sales tax, etc). We have GAP insurance on our '07 Sonata (2/07 purchase date) which listed @ $22,080 and which we got OTD for $18,189 since we only put down $2500. With a finance rate of 5.9% we may decide to drop the GAP insurance next year. If so, total GAP cost = $108 for two years.
Good luck on maybe being able to re-do this, if the numbers work out.
A more apples-to-apples comparison would be the Sentra to an Elantra GLS. Or the Sonata to the Altima 2.5S.
What is the price of the Sonata before adding taxes, license, and any other fees (but including the destination charge)? And are their any package options on the Sonata?
I am in San Francisco bay area and am about to buy a 4 cylinder 2008 sonata limited and the best quote I have is
18700 +tax+fees = 20700 OTD { this is with the optional sunroof}
I dont have what the break-up for tax and fees are. I am going in tomorrow to find out.
Not sure if I can do better....
The 07 hyundai sonata gls barely wholesales used for $12000. A $15000 sale price on an 08 is hardly a super great deal or "giving it away". It is much like the pontiac g6, vibe or the Toyota matrix. $5000 or so off an inflated $20000 msrp is not a great deal. Same for the other makes. Get as much off as possible.
--jjf
Oh Welllll !!! I finally picked it up. Black Sonata GLS 08 AT no extra added
Obvious Question?? How much I paid?
I paid 14850 including Doc Fee, it is $289 in this dealership and it is pretty much same in all Oklahoma dealerships. I have to pay tax and tag extra. I wanted to pay in cash, but they insisted that I have to Finance through them at least 10,000 (5.4%) so that they can give me in that price. They promised there is no early payment penalty. I am going to pay it off in 1-3 months whenever I feel like. They in turn threw in Mio GPS C230 and floor mats.
I am pretty happy with the deal. Only think I didn't like is, it has 121 (One Hundred twenty One) miles. I bought a Honda Civic before which had
If your financing is with HMFC, you can pay it off when you get the first statement. The statement will tell you the balance and the payoff figure (which includes interest until a certain date). If you payoff before that date, they will refund you some money. But remember, on most car loans, interest is calculated daily. So the earlier you pay it off, the less it will cost you in interest.
My business's '07 Sonata SE with 15,000 miles wholesales, according to Edmunds for almost $14,000.
I don't know where "jfritsch" is getting his numbers from nor where he gets his financial advice.
P.S. We paid $16,651 + $189 doc fee + tax & reg. I don't think that is bad depreciation at all after 13 months.
We had been planning on spending 10-12K on a used car but dropped in on a Huyundai dealer and drove a Sonata and were very impressed. The dealer, Clay in Norwood, Ma did not have time too negotiate with us as they were to busy with buyers who would buy today so I contacted via Edmunds several other dealers. Herb Connolly in Natick, Ma gave us a price of $14,908 including delivery on a new 08 Sonata GLS with an AT. Of course 5% sales tax, doc fees and registration fees adds another $1800 but for a brand new car with a good warranty we would be willing to spend the extra cash. But is $14,908 a fair price for this car? Need some fast opinions as dealer cannot hold car long as $3,000 incentive is bringing in the customers.
Thanks
MJW
Thanks
Good luck
--jjf
I was shooting for $19,100 OTD, they offered $20,150 and after some back and forth (and me almost getting into my car to leave) we agreed on $19,300 including floormats. I uploaded the final price breakdown to my carspace album in the hopes that it will help people new to the process know what to expect and what to look for:
Sales Order
(Sales tax here is 7.75%)
Also, here is the sticker showing the MSRP and standard equipment:
Dealer Sticker
Of course, the parts dept. was closed by the time we finished the deal so I'll be going back on Monday to pick those up. If that goes smoothly, I will be fairly satisfied with the experience. Thanks again to this forum and Edmunds for all your help!
I am thinking about getting a 2008 4 cly Auto Sonata next week,,
with the pouplar package extra 19,7000 then 3k rebate.. Am I getting good deal>
John
jnc@caroina.rr.com
Looking to buy in this coming week,,, with the Popular package..
Dealer selling it to me 250,00 under invoice and then a 3k rebate...
price after rebate 16,759 plus title tags and tax and doc fee.. AM I getting a good price...
E-mail mail me at jnc@carolina.rr.com...anytime need some input buying the the next day or two..
John in Charlotte NC
1. capitol hyundai san jose === Dealership just changed hands and they dont have many sonatas yet, not sure if they are gonna be getting any 08s, i didnt go to them and dont know how they are
2. Cammisa Burlingame == great email quotes after about 4/5 emails back&forth, but when you get there you realize the quote is with rebates that u dont qualify for
3. Peninsula hyundai and dodge == these guys also tried their usual stuff such as Sir ,,this engine does not come in this Trim level etc etc {translation-- we dont have stock}. They got me in the door with a nice quote for a vehicle they didnt have and could not locate...
4. Sunnyvale hyundai === very tough to bargain with, email quotes stay high, even when in the dealership,,, they do this -----let me go talk to sales manager, No profit on this deal, I am pushing stock coz 09 are coming and ALL that crap-----
In the end, I bought from suunyvale but i wouldnt really recommend any of these ...
Hope this helps...