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2013 and Earlier - Hyundai Sonata Prices Paid and Buying Experience

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Comments

  • dresskovdresskov Member Posts: 8
    Walking away from the deal is not the answer. Hang in their till the dealer you have exhausted the dealers offers and then offer $200 dollars lower. 9 out of ten times you've won. And going to Fitzgerald is not the automatic answer. They get you on dealer fees that they control the pricing on. If it is near you then just do the business, if not work the local dealer. Remember that winter is coming, so desperation sets in.
  • drivefunjasondrivefunjason Member Posts: 1
    In order to be eligible for the rebate, should I own a Hyundai's vehicle CURRNETLY?
  • averigejoeaverigejoe Member Posts: 559
    Yours is not a good idea unless you have decided you must buy from that particular dealer during that particular visit. Just because you might get it for $200 less than his last offer does not mean you are getting the best (or even a good) price. You are playing his game at his price if all he has to do is size you up as a shopper who will pay 200 less than his "final" offer.
    Dealers love shoppers like that.
    Well, I guess If you don't know how much you want to pay when you go in and are willing to pay whatever it takes to make the deal happen, then at least you are assured of getting a car and not being disappointed at the price.
    Good luck!
  • backybacky Member Posts: 18,949
    In order to qualify for the Hyundai owner loyalty rebate, you either need to own a Hyundai or buy two at one time. On the latter, I saw this happen once when I was in a dealership. A guy was buying a Sonata and an Elantra at the same time and thus got the loyalty rebate on the Sonata (I don't think the Elantra had a loyalty rebate at that time).
  • toyotafreektoyotafreek Member Posts: 16
    When Lexus introduced the LS400 and Infiniti introduced the Q45 in late 1989 the Lexus took off like a rocket and the Q45 languished. As a result, I leased a Q45 for $200 a month for 3 years with no cap reduction. An equivalent lease on an LS400 was about $500 per month. Was I really smart, no. I was just "fortunate" enough to want something that others were shunning.

    What's interesting is that I found the Infiniti deal by accident. My neighbor got one, and I asked about it. Today the search for a new car or anything else is much more methodical. For example, I looked for a digital camera for my daughter in college. I settled on a 4 or 5 megapixel model. I referred to Consumer Reports online, they recommended a couple of Kodak models as best buys. I pasted the model number in Googles and found it for $115 refurbish. Others were selling brand new ones for $160. My point is that the internet gave me a choice without causing me any exertion.

    This brings me to the Sonata. It's a lot like the Q45. Perceptions may be lagging reality and anywqy if you keep the car forever it's poor resale value is inconsequential.

    My car search has illustrated how important the internet is for methodical shopping. I came to Edumds to see who has the best deals on the Sonata. Fitzgeralds seemed to be the answer. I tried the Fitz deal on a couple of local dealers and the response was that Fitz was losing money on the deal. I took a suggestion on this forum and used the internet to propose the Fitz deal to Cockrhan , locally. They took it. But without the internet, I wouldn't have been able to pit one dealer 250 miles away against local a dealer.
  • zen2zen2 Member Posts: 226
    Nice going! I wish I had heard about Cochran's before
    I got my Sonata, since I live in Pa. I took Fitz
    price to the only local dealer, and they told me they
    couldn't touch it, but they did come down 300 on
    their "best" price.
  • wlovettwlovett Member Posts: 17
    My Hyundai dealer is telling me that tax is based on the price of the car before rebates are applied. For example, if the negotiated price before rebates on a 2006 Sonata is $20,000, and Rebates = $3000, I would calculate tax based on the $20,000 and not $17,000. Is this correct?
  • kyfdxkyfdx Moderator Posts: 237,100
    Your dealer is correct...

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  • backybacky Member Posts: 18,949
    This is not true for all states. In MN, sales tax is based on the price after rebates, and trade-in. :)
  • wlovettwlovett Member Posts: 17
    Thanks kyfdx. Do you know the rules for Ohio?
  • kyfdxkyfdx Moderator Posts: 237,100
    Not sure on the trade-in rules for Ohio, but you definitely pay taxes on the rebate...

    A good analogy is buying a computer at Best Buy... If the computer is $1000, with $200 of mail-in rebates, you pay sales tax on the $1000...

    FYI.. Ohio is about 3 miles from where I live, though I don't live in Ohio...

    regards,
    kyfdx
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  • backybacky Member Posts: 18,949
    More details below. I wonder how many other states are like this?

    http://www.taxes.state.mn.us/taxes/publications/revenue_notices/content/96-20.shtml
  • kyfdxkyfdx Moderator Posts: 237,100
    I don't know, but I wish it were more of them.. ;)

    Then again, I don't think I've ever bought a vehicle that had a rebate attached...

    regards,
    kyfdx
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  • zen2zen2 Member Posts: 226
    Bad analogy. If you get an instant rebate on the
    computer, such as the Sonata rebate, you DO NOT
    pay sales tax on the price before rebate.
  • danf1danf1 Member Posts: 897
    From the NADA Title and registration handbook:

    "The state sales tax rate is 6%; all counties levy an additional sales tax. Both are computed on the full purchase price with ALLOWANCE for TRADE-IN when purchasing a new motor vehicle."

    I'm not sure why they capitalize allowance and trade in, but anyway it looks like the rebate will be taxed. So you're looking at a maximum of another $180. On a $20,000 purchase, that isn't too much.
  • kyfdxkyfdx Moderator Posts: 237,100
    Well... I still think it's a good analogy.. As I specified.. mail-in rebates...

    As they say.. "You can look it up"..

    regards,
    kyfdx

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  • toyotafreektoyotafreek Member Posts: 16
    Auto makers learned a long time ago to net any rebates against the purchase price of the vehicle so that sales tax is computed net of rebates. The car makers are happy to side with the customer.

    Other manufacturers aren't as smart. Dell for example has instant rebates and mail-in rebates. Obviously, you pay sales tax on the mail-ins.
  • lesrusselllesrussell Member Posts: 8
    I purchased my 06 Sonata on August 25th. There were $2000 in rebates available for the financing and the fact that I was driving an Accord. Drive out deal (7% tax, title etc) was 21,700.00 for Black LX with package 3. Hyundai of Athens in Athens, GA.
  • backybacky Member Posts: 18,949
    So it seems there was a competitive rebate in effect then?

    Just curious... what year/trim of Accord and why did you decide to go with a Sonata this time?
  • lesrusselllesrussell Member Posts: 8
    The Accord was a 98 LX. I had pretty much determined that I would go with the 05 Accord when the 06 Sonata showed up, because I have owned Honda's since 1984. There was a lot to like though from the amenities that it had (heated seats, sunroof, leather, great sound system, the extra power) that you would have to go to an EX to get on an Accord. Then you are talking about what 24 or more for the Accord if there were some rebates. The Sonata is just a lot of car value for the dollar and it's a real comfortable car. Sits higher than the Accord and more leg room for backseat passengers.
  • silverstone1silverstone1 Member Posts: 7
    I was qouted a price of 18750-500 rebate-1000 Hyundai finance rebate (Final $17250) for the 06 GLS no added features. Is this a good price. I have to buy within the next two weeks.
  • averigejoeaverigejoe Member Posts: 559
    Did you trade in the Accord or any other car?
  • silverstone1silverstone1 Member Posts: 7
    I was qouted a price of 18750-500 rebate-1000 Hyundai finance rebate (Final $17250) for the 06 GLS V4, no added features. Is this a good price. I have to buy within the next two weeks.
  • backybacky Member Posts: 18,949
    It's about $250 over invoice (assuming your dealer doesn't participate in the advertising program). So that's in the good deal range, but since Sonatas haven't been selling that well so far and there is a 2% holdback on the car, you might try a counter-offer that is a little lower.

    P.S. did you mean V6, or I4? If it's a V6, it's a real steal--grab it while you can!
  • tenpin288tenpin288 Member Posts: 804
    Sonata US sales

    October 05 9,676
    October 04 8,589

    CYTD 05 95,296
    CYTD 04 92,454

    but since Sonatas haven't been selling that well so far

    Actually, they are outselling the previous gen compared to last October and the YTD figures are also ahead of last years pace, although the YTD figures do include the sales of the 05 model from earlier this year.

    Not spectacular, but improving! ;)
  • backybacky Member Posts: 18,949
    If they were selling great, there wouldn't be so many of them on my local dealer's lot and they wouldn't be offering up to $3000 in rebates on a new model. ;)
  • mikey432mikey432 Member Posts: 9
    What are the exact promotions available right now? I have a Nissan Altima, which is in the same class as the Accord and Camry and competes with the Sonata. Do I get the $1000 competitor's rebate? I don't see the rebate listed on the Edmunds's latest incentives page. :-(

    As I see it, I can get $1000 for HMFC financing + $500 for recent graduate + $1000 for competitor's cash back. But why isn't the competitor's rebate mentioned anywhere? Did I miss something?
  • backybacky Member Posts: 18,949
    No, you didn't miss anything. There is no competitive rebate now. Just a general rebate ($500-$1000), HMFC rebate ($1000), and a loyalty rebate for Hyundai owners ($1000).
  • Kirstie_HKirstie_H Administrator Posts: 11,148
    A major news magazine would like to hear from consumers who are thinking about/planning to sell/trade in their SUVs (and similar large gas-guzzling vehicles) for more fuel efficient cars. If you have a story to share with the reporter, please respond to pr@edmunds.com with your daytime contact info., the make/model that you are getting out of and which more fuel-efficient vehicle you are now looking for, no later than EOD Thurs., November 10, 2005.

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  • lesrusselllesrussell Member Posts: 8
    Nope this was strictly purchase, sold the Accord.
  • lemonade2lemonade2 Member Posts: 31
    Bought one today. Price paid before any rebates was $22,339

    Then $3,000 in rebates brings it to: $19,339
    Only additional costs are tax (8.675% in NY), Plates and registration.

    One thing of interest. Check with your insurance company for premium rates before buying, especially if your other option is a Honda Accord. the premiums for the sonata are $57/month more. That is over $700/year. for me it will take about 6.5 years until my premiums would equal the $4700 extra that I would have paid for the Accord.
  • lawrence45lawrence45 Member Posts: 44
    I checked with my insurance company before I bought my Sonata GLS 4-cyl (haven't gotten it yet- dealer still locating one). It will cost me (in NYC) about $250 more a year for the Sonata compared to the Accord. But the insurance companys' information is on a delay and the rate is most likely based on the 2005 Sonata. Hopefully when the information about the safety features (especially the side-curtain air bags and stability control and the ***** crash test ratings)is factored in the rates will go down to at or near the Accord. We'll see.
  • Kirstie_HKirstie_H Administrator Posts: 11,148
    A reporter with a major national daily newspaper would like to hear from consumers who are thinking about buying a vehicle or have just bought one (since Oct. 1) and can comment about how important incentives are/were in their purchase decision. If you have a story to share with the reporter, please respond to pr@edmunds.com with your daytime contact info. and the make/model of the vehicle you bought/are thinking of buying, no later than EOD Tues., November 15, 2005.

    MODERATOR /ADMINISTRATOR
    Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.
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  • zen2zen2 Member Posts: 226
    I find that hard to believe(about the insurance). I have
    a 2005 Honda CRV, and the premiums are almost identical.
    I previously had a 2000 Accord, and it's premium was about
    the same as the CRv's. And I have the 6 cyl, or it
    would be cheaper for the Sonata. 57 a month is more than
    the total of what my premium is for the Sonata. :-)
    My premium is 258 for 6 months for the Sonata. I'm glad I don't live in NY.
  • chronochrono Member Posts: 149
    It is not NY related. It all depends on your insurance company. We have a similar delay with our insurance company and the rates for a 06 Sonata are much higher then our bmw. I believe once the 06 model gets updated the rates will definately go down from the 05 model.
  • starriverstarriver Member Posts: 26
    $18580
    + $600 freight
    - $2900 Rebates
    = $16280 + TTL

    Rebates: ($500+ $1000HMFC + $1000 loyal + $400 graduation)
  • sunysbsunysb Member Posts: 3
    good price! looks like you owned a hyundai before.
    My local dealer(Long Island, NY) gave me $17996 + TTL,
    cannot take it, still waiting. BTW, Where did you bought it?
  • starriverstarriver Member Posts: 26
    Maryland
  • lemonade2lemonade2 Member Posts: 31
    Is the dealer you went to on Long Island Huntington? I got my sonata from them and I think it was a really good deal.

    check out post 850 above for the details of my deal. forget the ins stuff in the post...as it turns out I misunderstood my ins co ...however the sonata is more expensive to insure than an accord.
  • sunysbsunysb Member Posts: 3
    Hi, lemonade2
    I went to a dealer located at East Suffolk. Would try this Huntington dealer later. Thanks for your info.
  • kathyrnkathyrn Member Posts: 10
    I am trying to buy a 2006 Hyundai Sonata GLS V6 with no other options in Washington state. I have been quoted $18,000 by an very nice dealer and $18,500 by another. I had intially offered $17,500 (after $2000 in rebates) to a few internet sales managers in the area and the dealer that countered with $18,000. What does everyone think? Am ready to buy now, just waiting....no hurry really, just want the process over with.
  • bryan200kbryan200k Member Posts: 64
    I'll confirm as well that it is not NY related. I am in PA. I checked with my insurance agent in a comparison of a 06 Sonata versus a 05 Accord that was about $5,000 more in price. They quoted me about 87 more per 6-month for the newer Sonata. I asked the lady (office clerk) why the more expensive Accord was less. Her answer was, "well the 06 is a newer model, so it is more". I said "That doesn't make sence. This Sonata has more safety features that the 05 Accord I am looking at. Let me talk to the boss." The boss (actual agent and not a clerk) then explained that it could be that the figures are based on the previous version (05 and older) and that when the data comes out on the crash tests and maintenance and reliability figures on the new 06, then the rates could most likely drop for the redesigned Sonata.
  • zen2zen2 Member Posts: 226
    I think 18k is a fair price, especially if the dealer is
    local. That's what I got mine for. It's less than
    200 over invoice. Just be sure to avoid ALL the needless
    addons they will try to pile on. Paint sealant, rustproofing, etching, extended warranty, scotchguarding.
    Plus more. You can do these or get them done at a fraction
    of their price, if you want them.
  • lawrence45lawrence45 Member Posts: 44
    My insurance agent gave me the impression that the rates quoted for the 2006 Sonata are based on the 2005 model- which didn't do too well on the IIHS crash tests. If you check informedforlife.org which rates cars based on crash tests, rollover, weight, safety features, etc. you will see that the 2005 Sonata gets a rating of 125 (100 being average)and is considered to be in the least safe 25% of passenger cars. Their tentative rating for the 2006 model is 82. The 2005 model got 4 stars on the NHTSA tests (5 stars for the 2006) and the 2006 has esc and side curtain air bags. So, assuming good future scores on the IIHS, the 2006 Sonata's score should be 82 or less which should mean lower insurance rates sometime in the future.
  • jeffcjeffc Member Posts: 16
    Those quotes seem high unless some dealers get better incentives.

    I have bought 5 Hyundais from my local dealer ( 00 Accent/01 Sonata/02 Sante Fe LX/ 05 Tiburon and now a 06 Sonata.

    His price is always lower than Edmunds. With the 3 rebates, you can get a V-6 GLS for $16,400 and one with a moonroof for $16,800. Looks like some are paying that for the GLS with the 4 cylinder.

    But I am getting hit by the insurance, traded in a 01 Regal GLS and my insurance is going up by over $200 every 6 months.

    Oh yeah, I also notice that the GLS seat seems short, that it doesn't support the thigh all that well.

    But other than that love it.....
  • kathyrnkathyrn Member Posts: 10
    I found a dealer who will sell me a 2006 Sonata GLS V6 for $17750. This was $750 dollars less then most of the quotes and $250 less than the best I had so far. I don't have a Hyundai, so don't qualify for the rebates for people who already own one. I will use the financing and get the $1000 rebate. I am peeved that I have to pay taxes on the rebates...what a racket! Plus sales tax is 9.1% on cars in Washington State. I am happy with the deal and will of course avoid any add-ons, I have spent hours on this message board, when the time comes to sign everything, I will do you all proud!
  • splongyuansplongyuan Member Posts: 4
    Could you let me know what is Package 4?
    Thank you.
  • brc3brc3 Member Posts: 13
    I am in the market for a new GLS V6 with NO options. I have had price quotes from 4 dealers so far. The best one so far with two $1,000 rebates is 18,100. I will get price quotes from about 4-6 more dealers in my general area. I noticed in post no. 867 a dealer will sell one for $17,750. So I am sure I should be able to get a better quote. I have a trade in so I have to take that into consideration. I will do another post when I get the other quotes. I do have one question for everyone. Do you think that financing is worth the $1,000 rebate?
  • splongyuansplongyuan Member Posts: 4
    U can finance from HMFC first in order to get the $1000 rebate, and then refinance (if you have a better loan)or pay it off quickly.
  • zen2zen2 Member Posts: 226
    Nice going! I just called my credit union, and they
    will refinance my Sonata immediately for 2.50 percent
    less than I got from Hyundai. You might want to do that
    if you got an exorbitant rate like I did.
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