Diminished vehicle value due to lower mpg

[freshsqueezedsaturns@yahoo]

Separate issue from the gas compensation fund Hyundai/Kia have initiated and I see the lawyers/class action are now catching up to the legitimate concern some owners do have and most should have. Compensation for the diminished value of the car.

- Anyone who says there is none is not being honest.
- Anyone who says you are already being compensated for it is also not being honest.

The program 'may' compensate me for SOME/all of my higher fuel cost depending on if I drive the theoretical mix of highway/city that their averaged mpg adjustment calculates but it DOES NOT compensate me for the lost vehicle value. We'll also see if Hyundai adjusts the sale price to now sell 'slightly' less attractive (strictly from a fuel efficiency standpoint) vehicle. This would cause harm to existing owners. We plan on having our for +8 yrs but others who sell sooner will be impacted more so.

[ttraylor]

I understand what you are saying but when I purchased my Sonata and my Elantra, I couldn't find a better deal for the money so I don't know what I would go to if I decided to trade it in. I never expeced to get 40 mpg on the Elantra but I have got 39 on the road and average about 31/32 in combined driving so I guess I can't complain.

Our office has five Civic Hybrids and we have done the math on those and there is no way that you can every make that work. My guess is that our company will no longer have any hybrids once these are gone.

[someguy]

I honestly don't think the value will drop because its still a 28/38 car like the rest of the cars in its class. I also don't care. I own cars for a long time and I plan to keep this one about 8 more years. By then it will have a few more dings, dents, and scratches anyway and nobody will remember or care.

I personally think the impact if any will only affect cars sold in the next few months.

[Don67]

Why stop at fuel cost compensation when you can file a claim for vehicle depreciation? And once you're there, heck, why not throw in a few more bucks for pain and suffering and loss of enjoyment? In fact, let's just all quit our jobs and live off Hyundai! When they run out of money Obama will bail them out anyway!

I'll end it there before I start going off-topic

[ravenspilot]

I expect that by the time I trade my Elantra off "diminished value" will be a moot point, seeing as how I'm planning to keep Raven for at least seven years, barring something catastrophic. At fifteen thousand miles a year, give or take, that will put me at around 105K on the odometer.

That assumes, of course, that I can still afford to buy a new car in the future. Or even afford to actually drive one. Or that society hasn't totally collapsed into Mad Max-style savagery by then, which after the results of the election last night seems more and more likely.

The good news is that even at the reduced mileage figures of 28/38 mpg for the Elantra, I can go farther afield in my never-ending search for scarce gasoline in that grim post-apocalyptic future, and go longer between fillups, than that guy in the bike leathers with his supercharged V-8 Interceptor. He'll be stuck on the side of the road, out of gas, waving his shotgun in futility and yelling incoherently as I drive away...



Oh, sorry, no politics. My bad...

[OkieRich]

Yeah, I saw, heard, listened to, digested, and otherwise put-up with, enough politics this week to last me two lifetimes. These guys are like the Defendant and Plaintiff in a Small Claims Court: Best Liar Wins! Sorry for going OT. Everything depreciates over time, especially me!

[crownr0yal]

Originally Posted by ravenspilot

I expect that by the time I trade my Elantra off "diminished value" will be a moot point, seeing as how I'm planning to keep Raven for at least seven years, barring something catastrophic. At fifteen thousand miles a year, give or take, that will put me at around 105K on the odometer.

This right here. The "diminished value" isn't really an issue because as soon as I signed the paperwork, what I paid for the car was not what the car was worth. Car values are so fluid, IMHO.

[crownr0yal]

Originally Posted by OkieRich

Everything depreciates over time, especially me!

Not according to your dealer! They love you over there!

[OkieRich]

Originally Posted by crownr0yal

Not according to your dealer! They love you over there!

They must, as many screw-ups as they have done trying to replace the trannie shifter assembly. What a bunch of morons. I think I'll go in the morning and get my new knob and collar installed. AND MY TRIM PIECE SNAPPED BACK INTO PLACE!!! arrGGGGGhhhh.....

I also think I'll take a magnifying glass, LOL. I'll be so glad to have this over with.

[alex2006sonata]

And Saab owners should sue Saab for going bankrupt thereby diminishing the value of their cars, and Suzuki owners should sue Suzuki for going bankrupt and pulling out of the US auto market thereby diminishing the value of their cars. I should sue myself too because when I drove my new car off the lot I diminished the value a lot more than a 1 MPG adjustment to the average fuel efficiency of the car will diminish the value. Obviously this is a joke!

Personally I don't think the value will diminish enough to signify any sort of concern from me. I'm a happy camper still!