Downgraded from 2013 Elantra GT to 3013 Accent 5D

[Danno]

Originally Posted by Tightwad

They are not getting 0.0% loans in reality. They are buying down the interest rate using either the rebate or the dealer is doing it using a factory to dealer incentive.

The last time I did the math on some of the 0.0% for 60 month programs it worked out to roughly the same as 3.00-5.00% interest depending on the exact purchase price of the car and term. Of course if you dont keep the car for the full term the effective interest rate will increase.

On a base Fiesta for instance you save roughly $6.20 a month by taking $1895 and 2.9% interest for 60 months instead of $395 and 0.0%.
Also you start out $1500 less in the hole and stay less in the hole for the entire life of the loan

Hyundai Auto Canada | Affordable New Cars | Best Economy Cars | Fuel Efficient Vehicles

Choose build and price (Province - ON)
Build the Sonata GL
Shows $3,500 factory discount on last tab with 0% interest if you choose 48 months. 1.49% interest over 60 months. Looks pretty good to me. I had similar deal when I bought my 2013 Sonata GLS. Dealer took another $1,000 off the price on top of the $3,500 factory discount with 0% over 48 months.

[H-tech]

I think this is a too futuristic downgrade.

[2012AccentRocks]

Originally Posted by H-tech

I think this is a too futuristic downgrade.

Hah!

[cammyfive]

Originally Posted by BlomeEdition

Yeah, it sucks for the dealer though, because I got 1,000 miles out of the car for free! (took some real long joy rides after I got the call to return it) Good luck trying to sell a brand new car w/ that many miles on it for full retail. Muhahaha!

Beaverton Hyundai in Oregon hooked it up at 5.9%, which is awesome given I've never had an installment loan before.

I'm sorry, but this is almost comical to me. I've worked in sales and finance in the car business for almost 8 years and almost 4 specifically with Hyundai. There is absolutely no way in the universe that one dealership could only get you approved at 25% interest and the next dealership down the road got you a rate of 5.9%....that just doesn't happen at all. Ever. On the earth.

I also think it's pretty pitiful that you would choose to take 'some real long joy rides' in a car that you weren't going to buy. I hate to sound this condescending and there may be something I've missed here but this story is quite full of holes that are impossible to occur.

In regards to some of the other posters talking about financing at a dealership vs a bank, you aren't financing a car 'in house' at the dealership. The dealership is contracting your paperwork for an outside lender (Hyundai Motor Finance, Capital One, Bank of America, etc). A dealership can, at times, 'mark up' a rate up to 3% for that service. Example: The actual rate through the lender is 4.9% and the dealership can contract you at 7.9% and they get paid on the margin difference. 3% is the max as it's a pretty huge difference and rare....usually it's 1%. From a veteran of the business, unless there is some sort of 0% to 1% APR special, it's always a good idea (as long as you have acceptable credit) go to your local credit union to get a loan as they generally have some great rates.

[accent761]

Forget the Elantra GT, if you want a nice ride get the Chevy Sonic with the 1.4 Turbo. It is one **** of a sweet motor, the sound of the motor is deep and throaty, and you barely have to rev it to get it going. Think opposite of Civic SI. The Turbo Sonic rides very comfortable and absorbs the bumps of the road really well.
I like the interior of my Accent better, the sightlines and overall comfort is better in our Accents. Ride and comfort is well on the Chevy Side.
Fit and Finish cant tell the difference.