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JTrainor@hmausa.com
He said that the production just started on the limited cars could be arriving in dealerships by mid-April. Now, that is going to vary by location.
Sure, compared to the 2002 Civic DX they might own the Sonata uses a bit more gas, but compared to other cars in the class it uses less. Some people don't rate it against competitors, but instead against their own unrealistic expectations of a perfect car.
These little doors covering the airbags weren't very stylish, but they do make airbag replacement a lot easier--and cheaper!
If your ACV was $10,000 and the salvage value was $700, you could have taken $9300 and paid to have the car repaired. If the estimates were inflated you could easily save that $700 slavage value deduction.
Obviously, no one in their right mind (individual or insurance company) would pay more to repair a car than the car would be worth after it was repaired.
What you are taling about is the cost of replacement parts. If you priced out the cost of all parts of a new car you would see that they total more than the MSRP of that new car. Then, those parts would all have to be assembled to make the new car. Economies of scale in the way new cars are built.
Actually believe it is more like 2 or 3 times the MSRP for a total of all the replacement parts.
Think we're kind of drifting way off topic........2011 Sonata.
They don't. It only takes an estimated repair cost of 70% of the car's value to total it. Funny how they never mention the owner has the right to buy the car back for its salvage value.
But yes, time to go back to the Sonata and its seamless dashboard.
Really happy with the MPG so far.
click up or down on the tune arrows (left of the volume nob).
I bought the GAP insurance and did not get the extended coverage (10 years or 100,000 miles).
Do I need the GAP? We usually don't buy stuff like this but the dealer made us feel like idiots for not getting it. We have 20 more days to cancel.
Also the extended warranty was $1400. Do you think with all the new features on this car that this might be worth it?
Thanks!
I forgot to mention we bought it (not lease) and ended up not putting anything down since it was only 2.9% financing. The GAP was $750. It didn't feel right getting it (we never buy warranies on things) but like I said the dealer made it sound like it was definilty needed.
with this updated info do you think we should still cancel it?
I have a hold on a Limited coming in to my dealer.
Oops. Sorry. I have been an insurance adjuster for auto damage, theft, and fire for almost 10 years now.
Anyways..
1) Higher Deductibles are the norm these days. I handle approximately 135 claims a month. I've dealt with people who have $100 deductibles, up to $1000. The average is usually $500.
2) The higher the repair costs...the high your premiums go. This is true, to a sense. Thankfully (?) since cars depreciate, your insurance base cost goes down from year to year as your vehicle gets older.
3) The higher the repair cost, the easier it is for the insurance company to take your car from you (i.e. "total" it) even though the damage is relatively minor. . This is the most illogical thing I've seen posted since 10 am today.
Three ways to total a vehicle - a) cost of repair is more than the value of the vehicle; b) manufacturer states that a component cannot be repaired or replaced; or c) it could be repaired, but potential safety issues outweigh the repair (like rollovers). Seriously, you do think that insurance companies can't wait to total a vehicle?
4) ... with just enough damage (based on inflated estimates I suspect) to total it. They got a lot of expensive parts out of that deal; made out quite well I am sure.
Unlikely. I guess the "they" you mention is the insurance company? Well geez, after the tow bill, and the storage fees, then the other tow bill, and after we paid the ACV (actual cash value) for your vehicle, and then after we sold it at the salvage auction, the insurance company is lucky to get 20-30% of what was paid out.
I think syitalian confused GAP insurance with extended warrantees.
If you bought with little or no money down you probably should have GAP insurance. However, you should also check to see what your auto insurance company would charge you for this. It is normally (at least in CT) far less than the dealer charges for GAP insurance.
We bought a new '05 Sonata, $17,770 OTD with $7,000 down and did not take GAP Insurance. We also bought a new '07 Sonata, $18,189 OTD with $2500 down and did take GAP insurance through the car insurance policy...cost about $60 per year. When you're no longer upside down on the car loan, you can drop that coverage from your car insurance policy...it does not run the length of the car loan.
What I get a kick out of is someone who's been an insurance adjuster for 10 years and doesn't know the rules that insurance companies follow to determine whether to "total" a vehicle.
When I get a call from the body shop that my car is easily repairable and the damage is well under the 70% of ACV needed total it, then there's a visit from the adjuster from the other driver's insurance company (which is paying for my car's repairs) and all of a sudden, my vehicle is over the 70% of ACV limit by a few dollars (and I'm told I have no choice but to turn the vehicle over to the insurance company), when 90% of the body panels are perfect, interior is perfect, drivetrain is undamaged (and has low mileage to boot on a very popular car), and even the tires are nearly new... yes, I begin to wonder whether insurance companies prefer to total a vehicle. If totaling a vehicle is such a bad deal for the insurance company... why not just repair it when the damage is only 71% of the ACV?
That is what I was about to say. I checked my insurance cost before I picked mine up at the dealer and added GAP insurance to my premium. When I was at the dealer to pick up my car, they asked me about GAP insurance and I said I already added it to my premium. I didn't hear how much they would charge for it. My premium went up by about $3.50 a month.
When I wrote "cost of repair is more than the value of the vehicle" I suspect that I should have been more elaborate.
Cost of repair includes all costs associated with repairing the vehicle, including, but not limited to, rental expense. You also must consider expected salvage returns for the sale of the vehicle, expected or potential supplements, tow and storage bills, etc.
Here's an example:
link title
This beautiful 2010 Sonata has an ACV: $27,062 USD, but the repair cost is only $15,790 USD. Oh my gosh! This isn't a 70% ACV limit! That's only 58% That #$(#($ insurance company! It's not that bad, just slap some bondo on that fender and cut off the airbag, right? :sick:
And, if you're financing a vehicle, often the finance company won't allow you to keep the salvage, because 1) they want to maximize their return, and 2) if you stop paying your note, they don't want to repo a piece of junk.
(gotta get back on topic)
I wish the '11 Sonata had cigarette lighter/electrical aux in the center console or on the back of the console, for the passengers in the back.
Anyone have any leather seat cleaning guides or timelines? Just planning in advance, no idea when to use saddle soap, etc., on the seats.
Sonata boosts Hyundai into sedan pantheon
On the way to work this morning, I found nothing but solid static on the AM/FM!
The Sattelite reception was fine though. Any idea what the heck this is from?
I don't know if this could have affected it but three days ago I had the vehicle rust proofed at Krown.
???
Thanks
I wonder what you have to do to get woodgrain? I am waiting for Camel interior in a Limited and want the woodgrain.
Yes for the NAV unit. Don't know about the non-NAV, but I think it does.
Also, thanks to the person who posted the new MSN article. Does anyone have any info about Hyundai changing the horn? I agree that the one in mine is weak, I was looking at doing a replacement myself but I don't have much experience doing electrical work and I am afraid to mess it up. If they have a new OEM horn, maybe it will be an easy installation. Or I can hope maybe they will do it for free if I ask nicely?
$1400 for a 10year/100,000 mile
Any ideas why it would do this? Would this be covered under the warrenty?
Just the Facts:
Hyundai will unveil the 2011 Sonata Hybrid and the 2011 Sonata Turbo this week at the 2010 New York Auto Show.
Inside Line will stream the Hyundai press conference via Webcast on Wednesday, beginning at 1:35 pm EST.
A Q&A session with Hyundai executives will follow the Sonatas' debut.