Just bought a 2011 Hyundai Sonata Limited. Would You keep it if you knew...

s215

We bought the Sonata last week. The next day while I was looking for extended warranty on web, I came across a web site called CarComplaints.com just curious I look up my car and found out the engine seized on average 87K. I call the dealer and wanted to give the car back , well the dealership doesn't have the 3 day return. So we are stuck with the car. I tried looking up to see if other folks have had over 100k and running strong but it seems to be few that don't have any issues. It only has 35k and we bought it Certified Pre-Owned so the 100k /10year transfers to us. I really like the car and we got a fair deal. I really wanted to keep the car for about 8yrs or more. I don't know what the best thing to do is. If we trade we are about 3000 upside down. Dealership did offer to trade for a 2015 and the rebates would take the neg. equity but I'll paying 23k for a car that we could have got for 20k . Would you keep the car or lose the 3000+..... and get a more dependable car?

Thanks

Mr_Shiftright

This is really a question of what you can afford. Jumping up 4 years to a 2015 for an additional $3K doesn't sound like a bad deal to me if that's really what it boils down to. But if you already stretched for the 2011, then stretching further might not be wise. If you have the money, I'd do it because you'll get a lot more car in a 2015 model.

Also---you have to take things like "engine seizure" with a grain of salt---so much depends on how the car is maintained, or how people reacted to the warning signs prior to the engine destruction. So many times I hear "the car started to overheat and I drove 5 miles to the nearest exit"---well, by that time, it's too late, and a busted radiator hose becomes a busted connecting rod.

Since you are a longterm owner, it makes more sense for you to take on a little more debt, since you can amortize it over those 8 years. So that $3000 extra comes out to $31 a month more over 8 years. But you get more amenities and a longer warranty.

s215

Thank you, our payments and loan term is great. So paying 30-50$ extra won't hurt us. I just really like the Sonata.... maybe we won't have any problems with it.