Are US dealers nuts? $16k-$17k for a 2011 Sonata?!

[Mikemu]

Originally Posted by floebrian

My wife wants a new Santa Fe 2.0T. I didnt figure they would offer me much for her 2011 sonata 2.0T no nav. I was right, they only offered me 16K
Lets just say im gonna sale it myself.

On dealer trade, you generally get KBB trade MINUS 15-20%. On the other hand, you save the sales tax on the trade value and you don't have to deal with hoodlums coming to your home.

[TurboWhitey]

I noticed that too. Looked up my car on KBB.com, 2011 SE with 30,000 miles comes up with $16,900 in Excellent condition. I'm glad it's holding its value, will be valuable when I trade it in down the road. Right now I'm planning on keeping it for a while.

[Steelguy]

Here in the Tri state area, used prices took a shot upward at least $1K after Sandy because so many cars were totalled. Enterprise shipped in 25,000 used rental cars and the price on a used low mile 2012 sonata GLS went from 16,900 to 17,900 overnight.

The dealers played their game of "Special Sandy Cash" but they jacked prices as well, then applied the "discount"...screwing the buyer as per usual.

A tip if the hat to our OZ poster...maybe the difference is the US regs vs OZ regs?

[Mikemu]

Originally Posted by Steelguy

Here in the Tri state area, used prices took a shot upward at least $1K after Sandy because so many cars were totalled. Enterprise shipped in 25,000 used rental cars and the price on a used low mile 2012 sonata GLS went from 16,900 to 17,900 overnight.

The dealers played their game of "Special Sandy Cash" but they jacked prices as well, then applied the "discount"...screwing the buyer as per usual.

A tip if the hat to our OZ poster...maybe the difference is the US regs vs OZ regs?

Sandy cash on USED cars? I never saw that.

[austex04]

Used values also depend on what us market your in. Where I'm at, used cars are generally worth more than some northern markets. Used '11 gls Sonatas that already have 30k-55k miles are going for $15k-$17k. My year Accent with 30+k miles are going for in tx market $9k-$11k range for a car that cost around $13k new. Its actually cheaper to buy a new car than a 1 year old used car in this market, with new car rebates, finance incentives, and dealer discounts.

[Kandionkhrome1]

Yep I'm in Texas too and my 2011 GLS was about $17k


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[ryster]

Originally Posted by TurboWhitey

I noticed that too. Looked up my car on KBB.com, 2011 SE with 30,000 miles comes up with $16,900 in Excellent condition. I'm glad it's holding its value, will be valuable when I trade it in down the road. Right now I'm planning on keeping it for a while.

Unfortunately dealers tend to base trade-in values on KBB "Good" estimates as opposed to "Excellent". I have traded several cars over the years at numerous dealers, and have found that regardless of vehicle condition they always use "Good" as the basis for the trade-in value. If it is a vehicle that is not really desirable (like a V8 4x4 SUV when gas prices are $4+ gallon) they will only offer auction prices.

My 2011 GLS with 36,200 miles has an "Excellent" value of $13,234. "Good" value is $12,334. I would expect to be offered $11-$12K on a trade (which I would like to do sooner rather than later), and would be perfectly happy with that.

[wrightperspective]

My wife and I just bought two used 2012 Sonata GLS for just under 15K each. We basically paid the trade-in value which is over 2K less than dealer retail. The dealer had 5 and they were gone in three days.