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I disagree with this. I bought an 08 Elantra SE with premium package in April 08 for $15,200 (MSRP around $19.5k). Car has 33,000 miles on it. They have already given me a trade in price of $10.k (provided I do not exceed 35,000 miles before we close deal). Looking at the same car but an 09 Elantra with exact same options plus Bluetooth. I want a $5,000 OTD price. He is at $6,000 right now. Hoping to see some dealer cash this weekend to get it to where I want it. I think$5,200 depreciation with 33,000 miles is pretty darn good. I get mileage for work so I already have close to $11K in the bank. Give them $5k and pocket the $6k and for me the car is a money maker. One could argue that I should run my '08 into the ground and not trade in but I would rather rotate vehicles every year if this is the delta after 12 months.
How about you - can you give me some info or copy of estimate (without personal info of course)....trying to get the best deal. Seems like the SE price is better
Thanks for any help
I bought the car (Elantra SE automatic) this Monday for an OTD price of $14,967.
The OTD breakdown is:
$13,795 car price
-$295 trade in # My trade in was a real clunker I am happy I got anything for it.
$930 # 6% MD sales Tax (including the $2000 rebate)
$200 # floor mats, wheel locks, cargo mat, rear cargo tray.
$237 #Tag and title fees
$100 #dealer fees
Total cost:
$13500 #cost of car minus trade in
+$930
+$237
+$200
+$100
Total=$14967
Total without trade-in is ~$15262
In my case the first OTD price quoted to me at the dealer was to high by about $500 dollars. After I showed them the breakdown they gave me the correct OTD price. Whether it was an honest mistake or not I have no idea. In any case it saved me $500 to calculate what the OTD price should be based on state tax, dealer fees, etc.
With regards to price quotes. If you go to Alexandria hyundai web page here:
http://www.alexandriahyundai.com/
And search their new car inventory for Elantras you should find a couple automatic SEs for around ~14,200. I emailed and asked for the internet price and was given a quote of $13,700 for an Elantra SE automatic. I was able to use that quote to get a Maryland dealer to drop their price to $13,795. The MD dealer fees were $100 compared to ~$400 dealer fees in Virginia. Hence overall the MD offer was the best one by about $200. If you can get a similar $13,700 quote for an Elantra SE from Alexandria hyundai you may be able to use it as ammunition with local dealers in NY. Alternatively you can drive down to VA and buy the car directly assuming you think it is worth it. Frankly using the listed price on the Alexandria website for a GLS AT the OTD price is better than $16091. Using a tax of %8.25 and assuming tag and title fees are ~$230. The OTD price for a GLS AT from Alexandria is ~$15,085 (I am assuming this includes the popular equipment package from the Alexandria website this is not clear).
In any case I have made my purchase and am stuck with it . I wish you luck in your negotiations.
All the Best,
curious31
You did very well!
I've gotten quotes from Towne before and they've always beaten my local dealer by 000's. I may try your manuever if I end up purchasing the Touring.
I do agree with you that Hyundai's resale value is not it's strongest feature. If you tend to hold cars until they die, then it doesn't matter.
I do agree that, right now, the M3 is the better buy. Hyundai is doing well (compared to other manufacturers as you pointed out and is less inclined to offer those juicy rebates). I am fortunate I am able to wait.
I'm shopping the Touring, M3, and the VW Golf (tdi in the fall). They are all nice cars and I don't think I could go wrong with any of them. I do, however, try to place a dollar value for each vehicle to assist me in my choice. I can get a 2010 M3 Hatch for @19k. The 2009 Touring was offered to me at a local Hyundai dealership at 17.5k (manual base pkg). I valued the 1 year difference at 2k (2010 vs 2009). I then valued the Mazda vs. Hyundai difference at 1.5-2k (I know Hyundai quality has improved greatly...I did like the car...Mazda does have a stronger resale and most folks would pay more for the Mazda..so don't throw stones). By my reckoning that puts my adjusted value of the Touring at 15-15.5k. So, if Hyundai cuts loose with a great rebate, I'm in. If not, I'll wait for the Golf to compare and then run my adjusted value at that time. Who knows, maybe Mazda will have a great rebate or I can get a government handout (cash for clunkers).
Touring, auto b pearl, auto w/ mats and wheel lks $16.492
Less trade in - $13,000
State sales tax 6% (based on 3942) $275
Title $75
document fee $249
Nj Tire fee $7.50
Total $4,550.00
less rebate -1500.00
amount due $3,050.00
I love it so far. Marlene
Better yet, you may get to pay finance charges on the 8000 for the 4 or so years to pay the thing off. You do this to have a car that is not held in that high regard in the used market, or by the public. Probably around a Chevy, or less. For most production vehicles like this, one would like to eat around 3000 or so 1st year.
Agree Hyundai is a much better car than it was 4 years ago, but the used scene hasn't changed in 20 years.
A good sales price for the Sonata gls auto (msrp 20400) or elantra gls auto/pkg (msrp 17500) is around the $13000's . Less than this is something to get excited about. (the 08's trade in of both used is $10000)
Good luck
--jjf
A
You also have
jfritsch:
I do agree with you that Hyundai's resale value is not it's strongest feature. If you tend to hold cars until they die, then it doesn't matter.
I have to laugh whenever I see statements like "a good sales price for the Sonata GLS auto is around $13000s." That is simply not a realistic price for that car. I challenge you to find ONE report here of someone who bought a new (non-demo/loaner) 2009 Sonata GLS auto with MSRP around $20,400 for the $13,000s. Maybe it has happened someplace, under very special circumstances. But I think it is misleading to suggest to buyers that a good sales price for that car is in the $13,000s. It sets unrealistic expectations for what is possible in this market. I know where deals like that CAN be found right now--try one of the Chrysler or GM dealerships that is being forced to close. I've seen reports of great deals available at those dealerships.
I don't concern myself with depreciation, as I generally keep a vehicle for at least 10 years, sometimes much longer. In fact, I still have the '85 SAAB 900 I bought new in April 1985. Market perception is what drives depreciation levels, and sometimes this is not in step with reality.
Both cars are supposed to be very reliable.
Base Price: 15700
Tax on Base: 1300 (8.25% in Ventura, CA)
Price after 2000 Rebate: 13700
DMV Fee: 270
Doc Fee: 55
Tire Fee: 8.75
OTD: 153,34
The Sandman :shades:
2023 Hyundai Kona Limited AWD (wife) / 2015 Golf TSI (me) / 2019 Chevrolet Cruze Premier RS (daughter #1) / 2020 Hyundai Accent SE (daughter #2) / 2023 Subaru Impreza Base (son)
The Sandman :shades:
2023 Hyundai Kona Limited AWD (wife) / 2015 Golf TSI (me) / 2019 Chevrolet Cruze Premier RS (daughter #1) / 2020 Hyundai Accent SE (daughter #2) / 2023 Subaru Impreza Base (son)
The Sandman :shades:
2023 Hyundai Kona Limited AWD (wife) / 2015 Golf TSI (me) / 2019 Chevrolet Cruze Premier RS (daughter #1) / 2020 Hyundai Accent SE (daughter #2) / 2023 Subaru Impreza Base (son)
Is this a good price? I am looking for a SE Model, but they sent me a quote for a GSL one. Thanks for any input.
Per your request, this is a quote for a 2009 Hyundai Elantra GLS w/ Popular Equipment Pkg.
MSRP 17840
Invoice 17035
Your Internet Net Price 14035!! (before TTL)
1) The 08 trade in value of the same elantra wasn't barely $10000.
2) The Pontiac G6 well equipped around the country wasn't going for $13000 or less
3) The Kia Spectra and possibly Optima similarly equipped may be sellling for $11000 (check those forums and your local dealers)
4) At least one SE elantra quote on this forum wasn't in the low 14000's.
5) The Hyundai Sonata auto around the country didn't frequently sell in the $14000s this time of year.
good luck
--jjf
I just got the following quote from a local dealer in Orange county, CA.
Is this a good price? I am looking for a SE Model, but they sent me a quote for a GSL one. Thanks for any input.
Per your request, this is a quote for a 2009 Hyundai Elantra GLS w/ Popular Equipment Pkg.
MSRP 17840
Invoice 17035
Your Internet Net Price 14035!! (before TTL)
Please let me know. Bargain hard & stay firm...
I think you got a great deal. Can you tell me where you got that deal? I think $14, 500 or so is a good deal for OTD for Elantra GSE. At least, that is what I think. Does anyone think otherwise? Thanks for any info.
Sport Package
Bluetooth (Don't really want or need it)
Floor Mats
For $17,406 + Tax, Tags and Title.
I have been looking for a 2009 elantra GLS with popular package for more than 2 weeks. The best deal is 15000, which is cash price. For finance price, I have been offered to 14000. For sure I rejected because my credit history is only 3 years long.
I've looked at your other posts and a lot seem to just bash Hyundais for losing their value after 1 year. Quote just to illustrate from the Malibu forum:
If one pays the normal $20000 for a 27000msrp 09 Hyundai Sonata limited, it is not worth getting excited about 7000 off msrp, as the 08 Sonata has a trade in value of $11000. (if that)
In this example, one (many on the Sonata forum) has paid $9000 to drive a average sedan the 1st 12 months. This is whether you drive the car 1year or 10 years. One may also be paying finance charges on the 9000 for 5 years and be instantly underwater. Many are paying $6000 to drive the $20000 msrp Gls for 12 mo. $4000 off msrp here no great shakes.
Alright, let's play your game. First off, your numbers are wrong. An 08 Sonata Limited will fetch around $13k from a dealer trade in with 10k miles. A GLS will fetch around $11k. That's a $7k depreciation from the Limited and a $4-5k depreciation from the GLS.
Now this is a large depreciation - I will admit that. However, this is under the absolutely absurd assumption that you WILL trade in the car after one year. Who in their right mind would do that? Most people purchase a car to use it, not give it back after a year. If you keep the car for a longer period of time, you'll see the depreciation amounts begin to become closer.
Furthermore, this assumes that the cars your comparing are equal when they're absolutely not. Compare the Sonata to the Mazda3 and tell me you're getting the same features? Power seats, trunk space, safety, etc. You get MORE features for LESS money buying a Hyundai. That's something you can't factor into depreciation numbers.
Oh, and let's not forget the warranties here. Those Mazdas and Toyotas you seem to push only have 3/5 year warranties. Good luck with maintenance costs after that. Sure they could be reliable cars - that still doesn't mean they won't break and incur hundreds or thousands of dollars in repair costs. With Hyundais it's a non-issue. The warranty also makes a good selling point if you ever did want to sell it.
Basically, what I'm trying to say here is that you're just trying to scare people away. For some people a Hyundai might be the right car for them. Why try to stretch the truth and convince them otherwise? If they're happy with the car let them buy it. If you want to be helpful then tell them if the deal they've been offered is a good deal now - not a year from now.
Sorry all for getting off topic.
I sat in a Rav4 because I thought it would fit my needs the best. Once I test drove it I realized that I would not be happy with the vehicle. I sat in the Elantra Touring and it felt perfect for me from the start. Why on earth would I want the Rav4 that I really didn't care for? Why drive it around and be unhappy with it knowing I paid more for less vehicle?
Edit: Edmunds TMV price with the options listed above is 18111. My price is a little over 800 less.
The '09 was a model year "refresh" and included more standard equipment, features which had been optional in '08.
2009 Hyundai Elantra SE
M.S.R.P. 18,935
Invoice $18,318
Hold back $547
Internet discount $200
Your price $14,571 Plus tax and fees
This is what the dealer said that comes with this deal:
This Is an 2009 Hyundai Elantra SE Carbon Gray on gray automatic .This is the mid range model. this has 16' allow wheels am/fm/cd/sat/aux , AC, cruise, 6 air bags, traction control, additional items from factory are carpeted floor mats and bluetooth. There are many other features this vehicles has that I have not stated.
Thanks for any suggestions/input.
The mileage sounds kind of low. What does "around town" mean to you? I would hope to get at least 27 to 30 with the kind of driving I do which consists mostly of rural roads and highway.