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That's a good example though of how the depreciation difference fades over time. In your earlier example, the difference in value was $4500-5100 for 2006 models. But after ten years, the difference is down to $2200. It doesn't take much of a price difference to make that up, given the time value of money. I'll bet 1998 Accord cost a lot more than $1200, or even $2200, more than a 1998 Sonata.
I know these are just retained values, which may or may not be representative in the real-world, but it still speaks volume about the improvement of the brand.
It hasn't been updated yet.
The invoice price of a 2009 Sonata GLS with PEP 2 to make it comparably equipped is $19774, I actually think a GLS with PEP2 purchased for under $20K would be a nice car for that price.
But with merely $976 dollars purchase price difference than a new Honda Accord LX-P, the resale will kill you.
It will probably take 12-15 years or more for the price difference at resale to get that narrow.
There will need to be more than $4000 in incentives to get the selling price down to the below $16K street price needed to make it safe bet for the typical buyer who may want to trade it within 5 years or so.
It will probably be into calendar year 2009 before the combination of rebates and incentives might get that big, Maybe a big incentive on a 2-3 year lease would let you lease one for less than much the higher residual Accords and Camrys.
The people who may buy a 2009 Sonata in the next few months with only small or no rebates and above invoice pricing are going to be throwing away a lot of money.
Most of us know the Sonata can go up and take on the rest of the class. So is the price increase justified? I'd like to think so. I mean, take the base trim for example, it goes up by some $750 if I recall correctly, but you'd get so much more compared to the current model; with all of the extra features and arguably a much better visual (subjective), not to mention the power increase, yet still achieving the best fuel economy in the class. Similar case can be made on other trims of the model.
The weakening of the dollars may have something to do with this, but perhaps also, it's all about the perception game. I mean, the perception is generally in favor of something more expensive than the cheaper counterpart, because they are more expensive, they percept to be better (psychological effect?). I'd venture to guess Hyundai wants more of the general public to find out perspective consumers are still be able to feel confident about a car even though it may not say a Camry, or an Accord, for example.
The bummer part of the car was inside. The fake wood was replaced by fake aluminum that didn't impress me, and the middles of the seats were upholstered in some sort of coarse horizontal weave that's hard to describe. Call it a semi-faithful rendering of a gray lawn chair upholstered in flat vinyl-like tubing.
It wasn't my idea of sporty, but I guess someone thought it had Seoul. Pity, because that interior is the only way to get the uprated suspension, wheels and tires (except for the prohibitively pricey modification route).
If you could find an Azera Limited base rather than the more common Ultimate package (300 watt stereo instead of 600, half the fake wood, no power tilt/telescope wheel, adjustable pedals, memory seats or rain-sensing wipers), you'd still have more room, power and ride comfort for not a whole lot more money.
What color was the SE's interior? Even prior to 2009 MY, Sonata offered two dash trims: woodgrain for tan interiors, and "metalgrain" for grey interiors. So if you saw a grey interior, it's possible the tan interior would have woodgrain. Just a thought.
But I wonder if the Azera is defunct? It's nearly March and no 2008 model yet. With the Genesis coming soon and starting under $30k, and the Sonata reaching into the upper $20s now (Limited with nav), maybe the Azera will go bye-bye? After all, who would buy an Azera Limited at over $30k list when a well-equipped and similarly-powered RWD Genesis starts at under $30k?
Maybe your area of MN is relatively flat, but where I am in CT, RWD is practically not an alternative. I barely made it up a hill yesterday within a half hour or so of a plow/sand truck clearing that road. FWD '05 Sonata...no more than an inch of snow, but it was icy underneath. No RWD car could have made that hill.
Something else that is weird: the 2009 Sonata 3.3L V6 has 249 hp, right? But the 3.3L engine in the 2008 Azera GLS has only 234 hp according to Edmunds.com. In other words, it's the Gen 1 3.3L motor. And you can get a 2009 Sonata Limited (leather, moonroof etc.) for about the same list price as a base Azera (cloth, no moonroof). So...what is the attraction of the Azera, at least the GLS, other than a little more interior room? :confuse:
Sonata 5-yr depriciation = $11,280
Accord 5-yr depriciation = $10,186
A $1,094 depriciation hit is fine by me considering the money I save up front. And also, Hyundai's 10-yr warranty is another value added to the product that Honda can't match.
Had some real problems with some of the other cars.
Accord has -34!- almost identical buttons on the dash - you think cellphone users are distracted......Also was about $3K higher delivered here.
Camry was cheaper looking inside, didn't ride as smoothly, and was noisier. However the dealer will throw in a carwash a week for life.
Malibu - don't make me laugh, but we checked it out to see what American cars are like. By the way, there is a hold on 6 cylinder engines with no release date.
Avenger and Sebring - checked out - less performance, less mileage, noisier, cheaper interior, etc.
Also checked out the Nissan Altima, Ford Fusion, etc.
Some of them were excellent in some respects but none of them came up with a total package that matched the Sonata.
My wife surprised me by going for a black car with black leather interior. The only thing I would change on this is the interior. Black is available with only a black or camel interior. I would prefer a gray interior. By the way, the camel interior is dynamite on the deep maroon car.
We pick up the car tomorrow.
I keep my cars at least 10 years with rigid PM and any repairs I do myself. Trade-in was a 13 yr Continental which still ran fine with no major problems.
I saw three 2009 Sonata GLS models at the local Hyundai dealer today in Waco, Texas. They were listed for just over $20k. All three were unlocked so, I sat in each one. I suppose the new interior is nicer than the 06-08 models. What I didn't like in the 2009 was the cup holders didn't have a cover that flips over like the 08 models. The grille is nicer, as well as the larger headlights. I like the tail lamps on the 2008 more. The 2009 tail lamps appear to be the same size as the 08's.........just that the 08's show more white for the reverse lights than the 2009.
Oh.......I didn't see a place to unlock the trunk from the outside on the 2009.
I am looking at replacing an 04 XG350 with either an Azera or Sonata and sure would like folding mirrors if I go with another Sonata.
1. they have no access to Korean part numbers.
2. they cannot guarantee the part would fit properly
3. most US parts meet various standards that cannot be guaranteed with Korean parts
4.shipping costs, customs and customer return problems
5. dealers don't want to be caught up in any of the above.
The 09 seamed much more comfortable to me.
The seats look the same but I got a tape measure and found that the seat in the 09 was 1 1/2 inches longer from the upright back to the edge of the front.
This is a much needed improvment in my opinion.
For a 6 foot man, like myself, the 08 seats just did not have enough thigh support.
I will be buying an 09 when the rebates kick in.
P.S.-- The salesman did not know about the improvement to the seats.
They may be keeping it quiet until all the 08s are sold.
Does anybody know if the mirrors that are used on the Azera with the turn signal indicators will work on the Sonata? Are the Sonatas prewired so this will work ?. I know the OEM mirrors on the Sonata do not fold. Just one more safety item.
Also, the Bluetooth option. Will a aftermarket Bluetooth device work with the Infinity sound system ?. If not, can you buy and install this item yourself and save a few bucks ?.
Are the 2009 Sonatas being sold at invoice or $ 500.00 above. Any information will be extremely helpful.
No reason to have 2009s on their lots that would only make the 2008s harder to get rid of.
A spot check of some dealers around me yesterday showed they all have at least a few 2009s in stock.
What kind of options were added on? Were these dealer installed options? Not quite sure what you mean by the above...is there a typo or something? Seems like too good to be true deal on a 2009, am I missing something?
There are a lot of dealer installed accessories, paint and fabric sealants etc. that the dealers can price at any dollar amount they wish.