Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!
Popular New Cars
Popular Used Sedans
Popular Used SUVs
Popular Used Pickup Trucks
Popular Used Hatchbacks
Popular Used Minivans
Popular Used Coupes
Popular Used Wagons
Comments
I don't think that is true for the 2011 Sonata. I haven't seen one yet in a rental lot, and I travel quite a bit. Was just at LAX yesterday and today at Hertz and saw lots of mid-sized cars, but not a single 2011 Sonata (actually didn't see ANY Sonatas). I don't know why Hyundai would sell the 2011 Sonata in volume to fleets when they are having a hard time meeting demand from their dealers. Have you seen any figures on how many 2011 Sonatas Hyundai is selling to fleets?
I agree with those who don't attach much importance to resale value. That's partly because I keep my cars for a long time - at least 8 years & often longer - but it's also because resale value contributes nothing to the ownership experience until you actually sell or trade in the car.
Think about it. Good handling, a supple ride, plenty of power, comfortable seats, a stylish interior, a first-rate sound system - all of those are features that you can begin enjoying from the 1st day you own the car & every day thereafter. But resale value doesn't matter until you're actually ready to get rid of the car - and the longer you wait to do that, the less it matters.
Would you put up with uncomfortable seats or anemic air conditioning just to get higher resale value? I rather doubt that. Chance are that you look on resale value as, at best, a tie breaker. You aren't about to do without a feature that will give you immediate pleasure just for the sake of more money at some unknown future date. It wouldn't be logical. I'll bet that you prefer the Accord to the Sonata for reasons unrelated to resale value - reasons that are important to you. The higher resale value is just one more excuse to buy the Honda.
Incidentally, I'm a big Honda fan. One of the best cars I've ever owned was a late 80s Accord that I bought new & kept for nearly 12 years. By then, it looked like a 12-year-old car, although it ran beautifully.
You can get reliability without sacrificing quality. I have driven 2010 Accord and 2011 Sonata and both are very good cars, Honda's steering is more precise, it's wishbone suspension is much better and EX's engine is smoother. 2011 Accord should offer few new features that will be unique such as 2 memory settings, rearview camera, better EPA 23/34 and yes its outdated 5 speed tranny.
Sounds to me as if these are the real reasons why you prefer the Accord to the Sonata.
My last car was a 2006 civic ex... guess what? engine block cracked at 54k miles.. what??? a Honda??? yes!.. happy to say that in spite of the fact I was out of warantee they replaced the engine, transmission at no cost...payed for rental car while I waited to have work done etc.. Exemplery customer satosfaction.. I would reccomend a Honda to anyone... but just goes to show... no car company is beyond having faulty product...
I liked the civic because at the time.. the new design was "cutting edge". Stepping up to the next size car.., I preferr the Hyundai. over the Accord.. I know Honda will have a new model next yr.. but Honda design philosophy is much more conservative.I do think that Hyundai has balanced form and function with the Sonata
There are no 2011 Sonatas at any rental co in the NY area. Where did you get your info from?
I suggest you view this website. And the 2011 Sonata is not included which should be better for Hyundai. Very close to Honda!
http://www.autoblog.com/2010/06/17/jd-power-2010-initial-quality-study-domestics- - -lead-imports/3
Shootout sedans were rated in 10 categories by the family and six journalists. The family rating was adjusted to count for 40% of each final score.
The Pros total is the results of six auto journalists added together. The total score is that number plus the family's adjusted score.
1st Impressions Family Comfort Child Seats* Family Features Trunk Seats Visibility Ride Accel. Brakes Pros total Family adj. total Total score
Hyundai Sonata 63 56 49 62 54 56 51 53 54 59 478 316 794
Toyota Camry 41 53 49 51 55 54 55 56 54 50 440 312 752
Suzuki Kizashi 55 48 35 49 42 53 52 54 58 60 431 300 731
Mazda6 55 56 28 48 59 45 55 51 53 55 432 292 724
Honda Accord 48 57 49 49 49 42 53 42 53 56 423 300 723
Nissan Altima 39 47 42 55 51 48 53 53 54 53 423 288 711
Chevrolet Malibu 43 50 56 49 40 52 48 52 48 40 405 292 697
Ford Fusion 54 48 21 49 53 51 48 45 49 47 397 272 669
Yuo can go here for the complete report.
http://www.usatoday.com/money/autos/2010-05-03-sedan-shootout_N.htm
I also plan to drive a car for a long time. Replaced a 1994 with the 2006 Sonata, which is a very good car. I had hoped to drive it for just as long. But then Hyundai does this really crazy thing and creates the 2011 Sonata! So resale at 5 years is now important.
My 2006 Sonata will likely bring in about $1,500 less at trade in than my second choice car would have (according to NADA), even though the price I would have paid for that car was about the same. $1,500 isn't that much but when making a purchase, many on these boards would go out of their way even to save $500 so the back end must be important, too.
I traded in a 2001 Infiniti G20T w/150,000 miles on the Sonata and was offered $1500 at trade in but I got $2000.
And it was still a nice car.
I chose the Sonata because I could get a fully equiped quality car for considerable less money than the boring Honda/Camry and with a 10 yr warranty. And as another poster stated when the new Honda/Camry comes out and catches up with the Sonata I may be interested if the price and warranty are comparable.
Lots of people only keep cars for three or four years(not financially the best but hey, it's their money) so resale is important. People that lease have a big stake in resale(residual value) value. So to say that it's not important is just false. To say it's just not important to you is fine. I happen to agree with you because I do keep cars for 7-8 years usually so it isn't a big player in my decision. However, I digress to the earlier point about there is a reason a car has high resale value.....people like them and think they're worth more!
By the way, ALG, which is a respected source of info for setting residual values for car leases, has set the residual value of the 2011 Sonata at about the same or even slightly better than the Honda Accord. It's based on their formula so I don't quite know how it's figured but their computations are used by most leasing operations.
Go back & reread my posts. You'll see that I never said that. You're clearly confusing my posts with someone else's. Please read more carefully before you reply.
Nobody said that resale value is the most important consideration to buying a car....just one consideration.
That was precisely my point. I believe that I said that resale value could be thought of as a tie-breaker, which is another way of saying the same thing. Really, there's very little difference between our positions on this issue.
Your point was that resale value is more of a tiebraker, my point is that to many people it is a very huge upfront consideration....not just a tiebraker but an important factor in their cost of ownership over a short period of time. I don't like blanket statements that assume what applies to me personally also applies to everyone else. To each their own.
I disagree. If your buying a car today how do you know the resale value in 4 or 5 yrs compared to another popular brand. My point is I paid $23k for my Sonata. Can you tell me what the resale value is in 2016. And if the comprable Honda cost $28k today what is it's resale in 2016.
Can you realy determine the difference in cost of ownership between a 2011 Sonata and a 2010 Honda? And if the difference is $1k over 5, yrs someone will buy that car instead of the better looking, better equiped, and better warrantied car.
Sorry but again I disagree. I've been buying new cars for over 40 yrs and it was never a consideration.
Oh, by the way, I've been buying cars for 45 years and it has been a consideration for me at times, but not always. Does that make me right? No, I'm just one person and it's an opinion. And the fact that it was never a consideration for you means the same, it's just your opinion. You're one person and you don't have to reply that you polled all your friends and relatives that it doesn't matter to them either. But if you'd like to cite some reliable source or validated statistics that indicate that most people care less about resale value when they a buy a car it would be welcomed.
No reason for the sarcasim!
And History as you stated does not predict the future vale of a used car!
How many does the company plan to produce?
What are their own projected sales numbers?
Are they going to make leasing very attractive? (if so, expect a reasonable glut of lease turn-ins after 36 months)
Rental or other fleet sales? (if significant, see above)
How long does the average brand owner keep his/her vehicle before trading in?
And, as m6user indicated, neither the industry nor consumer perceptions and behaviors turn on a dime. There are exceptions and unexpected events, but largely, they affect the entire used car market value rather than one vehicle.
MODERATOR /ADMINISTRATOR
Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.
Share your vehicle reviews
You say it's not historical data, then how do they do forecast it?
edit: Kirstie makes some very good points and some of them are forward looking but based on past events(history) like leasing strategies, etc. Anyway, determing future resale values can be and is done all the time with pretty good accuracy and if you're going to lease a new Sonata, be thankful that they can because it is providing for some pretty good lease deals..
MODERATOR /ADMINISTRATOR
Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.
Share your vehicle reviews
Thus resale value is important for either 1. buying the vehicle at that point, (why didn;'t you buy it in the first place?) or 2. turn it in and start another lease .
I just don't know how any of us can predict the resale value of a car that just hit the market. Historical records are guidelines. If the 2011 Sonata develops major problems like the Toyota the resale value can plumet. The same goes for any other car.
When I purchased my Sonata in March my Dealer would not take in a Toyota on trade because of the bad publicity.
Let me also add that tading in a car to the original Dealer (Hyundai to Hyundai or Honda to Honda) will result in a better trade value. When I was shopping I looked at Altima,Honda, and Ford. I received a considerable more for my Hyundai going back to Hyundai.
As I said earlier I have a 5dr 2006 Elantra with 15k miles that I paid under $11k and I have been oferred $7k from several potential buyers. Not to shabby for 5 years. Most cars lose that the 1st year.
Backy, we're working a LOT of overtime to meet the demand for our Sonata AND Santa Fe, there are some plans in the future to help us better manage our output.
We're really excited about the Turbo and Hybrid Sonatas and some other possible surprises in store for the Hyundai family of customers.
Bring the sunscreen and something to drink when you come to Alabama....it's very very very hot right now!
Is the horn adjustable?
It's a 2011 Sonata with silver paint. She backed into a pole and put a scratch and small gash into the corner bumper. The gash is about 1/2 an inch and you can see the black plastic.
What do I do? I hate seeing it but I don't know if its worth fixing. Even if I took it to a body shop how will they match it since the Sonata paint was done a special way?
help....
Then wait a few years, and after the bumper has accumulated lots of other dings and nicks (sorry, it happens), you can have it professionally painted, so it's like new again... for awhile. :sick:
Beats me. I know my '05 Elantra was the first one I noticed it not there.
FWIW my '10 Outlander doesn't have one either but my '99 Galant did. Maybe it's a way to shave off an ounce of weight & save 45 cents on production.