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Discussion Starter · #1 · (Edited)
Hello folks,

My wife is looking for a new vehicle and we are considering a Sonata. We are looking to get a Limited edition without the navi/sunroof etc.

Using truecar we found a couple dealers close to us that are offering it for $22600 (Approximately $4000 off of msrp). The price includes the $2000 cash incentive. She is also eligible for additional $400 incentive for graduating a year ago but then she will have to finance through Hyundai. BTW, she is pre approved from her bank with a 2.5% APR.

I have a couple of questions I am hoping some of the experienced folks here can help us out with.

1) How is the $22600 price? Should I not be able to get lower price than this truecar price? I was looking for about $21500. Is this feasible?

2) You can build a 2014 Sonata on the Hyundai website now and when I called a dealer closer to my place they said 2014 should be coming in mid-late October. With this mind, should I just wait for the 2014 to show up on the lots? Will the 2013 ones be cheaper then? Do the dealership offer additional discounts on the 2013 to clear them out?
 

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You will not get anywhere near the same wiggle room on a 2014. So if cost is your main motivation versus options, 2013 is the way to go.

When I purchased my Fusion in April I got a true car price and x plan price and beat both with some simple via email friendly negotiation. It will vary from dealer to dealer.
 

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Discussion Starter · #3 ·
You will not get anywhere near the same wiggle room on a 2014. So if cost is your main motivation versus options, 2013 is the way to go.

When I purchased my Fusion in April I got a true car price and x plan price and beat both with some simple via email friendly negotiation. It will vary from dealer to dealer.
I am not after 2014, just as a good a deal I can get on 2013.

Should I expect better prices on 2013 once 2014 ones show up on the lots?

Is it unrealistic for me to expect $21000-$21500 price instead of the $22600 price offered to me via truecar from two separate dealers?

How much cheaper were you able to get compared to the truecar price?
 

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I believe Hyundai has or just had 0% financing on the Sonatas. Check it out and see if it is stii good.
 

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Discussion Starter · #5 ·
I believe Hyundai has or just had 0% financing on the Sonatas. Check it out and see if it is stii good.
They do still but, correct me if I am wrong, but if I take the 0% financing then I cant get the $2000 cash incentive. Its one or the other.
 

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0% is a ripoff IMHO. Take the cash and go for either cheap financing at purchase, or do a refi after a month.

22.6K is not a bad price for a Limited, although if its not a Turbo then I would say they are trying to gouge a bit.
 

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I used True car and then email the dealers the different bids. Once I got the lowest bid, I went to my local dealer and ask if he would match it. He did

After rebates, my GLS cost me $18,702. With Tax, Title and License it was $20144. 60. And he threw in the tinted windows.

I started the process at the beginning of September, but waited to buy until the end of the month on September 28(dealers want to make their numbers) Always wait till the end of the month.
 

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I used True car and then email the dealers the different bids. Once I got the lowest bid, I went to my local dealer and ask if he would match it. He did

After rebates, my GLS cost me $18,702. With Tax, Title and License it was $20144. 60. And he threw in the tinted windows.

I started the process at the beginning of September, but waited to buy until the end of the month on September 28 (dealers want to make their numbers) Always wait till the end of the month.
+1. Ranger, congrats on your OTD price and buying strategy. I also used TrueCar way back when I bought the Sled and saved about $1900 (not bad for a then-current MY car IMHO)

As more '14s hit the lot, I will guarantee that any '13s on the lot will have more wiggle room on them.
 

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1) How is the $22600 price? Should I not be able to get lower price than this truecar price? I was looking for about $21500. Is this feasible?
Its not a bad price, but I think you can do better, its the beginning of the month, the dealer is not motivated to sell yet. He still has time. So do you.

+1. Ranger, congrats on your OTD price and buying strategy. I also used TrueCar way back when I bought the Sled and saved about $1900 (not bad for a then-current MY car IMHO)

As more '14s hit the lot, I will guarantee that any '13s on the lot will have more wiggle room on them.
Thanks and you are right. And this buying method really does work. My son bought a new 2012 Honda Civic EX last year using the same method. A fully loaded EX for $17399 + TTL.
 

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0% is a ripoff IMHO. Take the cash and go for either cheap financing at purchase, or do a refi after a month.
There is truth to this statement. When I got my Fusion there was 1500 or 0%. I knew I had a lot to put down so I picked 0%. He asked if I was sure and presented me with options with 0% and options where I took a low interest loan.

I was skeptical but he was right. I mean, he offered as he makes money on the loan itself but I saved by taking the cash back (comes right off the top and reduces overall taxes) and paying a low interest loan. Plus I tend to pay my cars off early so that helps too as my load does not have a pay off penalty.

So do the math and see if 0% is actually saving you money or you would be better off with a low interest load and the cash back.
 

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There is truth to this statement. When I got my Fusion there was 1500 or 0%. I knew I had a lot to put down so I picked 0%. He asked if I was sure and presented me with options with 0% and options where I took a low interest loan.

I was skeptical but he was right. I mean, he offered as he makes money on the loan itself but I saved by taking the cash back (comes right off the top and reduces overall taxes) and paying a low interest loan. Plus I tend to pay my cars off early so that helps too as my load does not have a pay off penalty.

So do the math and see if 0% is actually saving you money or you would be better off with a low interest load and the cash back.
I'm a High School Math teacher so I can tell you, you're right. In most cases take the rebate
 

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Go to USAA.com and become a member. It's isn't just for military anymore. Anyways you can become a member but don't need to open an account. Then use the car buying service to get a quote. I priced out your SE base model w/o sunroof etc and came in at $20,815. That includes a $1500 cash rebate but doesn't include a $500 loyalty rebate, $500 military rebate or grad rebates so you might be able to do better than that.

I told a friend about it and he saves $5-6K on a Honda. Even a Chevy Malibu ECO is $7k below MSRP.
 

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I would take the rebate over the financing. That's a no-brainer as far as I am concerned.

Doesn't sound like a bad deal although I have personally not crunched the numbers. When I bought my SE I got $2,500 off in total rebates in July. You might be able to do better now and I would imagine Hyundai is anxious to move the Sonatas out for the new model. I think the 2014's are changed only marginally although I have not actually seen one in person. The big change will come with the 2015's. I would expect they might come out in March of next year although I don't know that for a fact. But usually there is little wiggle room on brand new models.

So far as I can tell, the only major change is with the Nav system. I have it on my SE and I have the regular sunroof which I wanted. I'm ambivalent about the pano roof in the the car that I believe is packaged with the Nav system, on the Limited. Frankly speaking, the Nav system is not up to speed with the Santa Fe, for example. The two most important aspects are not in the system, the speed traveled and the speed limits except for interstates and major U.S. highways.

You can instead buy a Garmin (or other GPS unit) with lifetime map updates for about $150 or so at Walmart that gives excellent information and can easily be updated off the internet as I have done it twice. But here is the big secret to owning an outboard GPS unit. Mount it on a "beanbag" (about $18) that you can simply place on your dashboard and it can be taken off when you leave the car and easily placed in your center console, out of sight. I use that and essentially use the built in Nav system around town where I already know the speed limits etc. And of course the back-up camera is much appreciated. (Does the non-Nav system have the back-up camera???)

On the highway I rely on the Garmin unit. It even highlights when going over the speed limit and is amazingly accurate. As the speed limits change in "Podunkville", the speed limits do as well. That can save an expensive speeding ticket. Money well spent. The Garmin apparently can hold a charge for about 2-3 hours so it is entirely free standing. But bring the charger along and plug it in when the warning comes up on the screen, or leave it plugged in. If you find you must plug it in on the road, pull off so you don't lose concentration and have an accident.

I would investigate an aftermarket sunroof if you don't get the factory sunroof. (Is the regular sunroof available for the Limited?)
I suspect not.

You're about half way there. The price is in the ballpark and it is hard to see how that's a bad deal even at where you currently are. Is this a cash deal? Don't interwine the trade-in, if you have one with any negotiated deal unless you see the cash price BEFORE you discuss trade-in. You buy his car. He buys yours. Two separate transactions.

Are you sure about the mandatory Hyundai financing??? If so, do it and then refinance it as soon as the loan is booked with Hyundai. We did that with State Farm Bank at a very favorable rate. It was mandatory on the Elantra but for some reason not on the Sonata. Check their rebate terms. It should tell you.

One other thing. Does your Limited come with Homelink? I really do like that feature. It's well worth the money in my opinion.

Good luck.
 

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Discussion Starter · #14 ·
Thanks for the advice and input everyone. Update....

Just completed the paperwork and bought a new 2013 Sonata with 8 miles on it.

-Limited edition (Black with gray interior), with leather heated seats, sunroof and all but without the Navigation unit. I am thinking of installing the CompassNav myself.
-Came with $400 port add-ons (no use to me but whatever).

MSRP was a little over $27,000.

After several hours of negotiations and saber-rattling, I was able to get it down to $22,000.

The price includes $2000 cash incentive and I was able to get it financed through them at 2.1% APR.

Hope I got a decent price.
 

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Thanks for the advice and input everyone. Update....

Just completed the paperwork and bought a new 2013 Sonata with 8 miles on it.

-Limited edition (Black with gray interior), with leather heated seats, sunroof and all but without the Navigation unit. I am thinking of installing the CompassNav myself.
-Came with $400 port add-ons (no use to me but whatever).

MSRP was a little over $27,000.

After several hours of negotiations and saber-rattling, I was able to get it down to $22,000.

The price includes $2000 cash incentive and I was able to get it financed through them at 2.1% APR.

Hope I got a decent price.
Sounds good to me. I would just use a new Garmin with the "beanbag" on the dash. And I have the Nav that is not worth it except it came as a package for the sunroof and other stuff.

Interest rate looks good to me. I'd say you did just fine. No trade-in involved, I hope. Then the figures get muddled.
 

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Go to USAA.com and become a member. It's isn't just for military anymore. Anyways you can become a member but don't need to open an account. Then use the car buying service to get a quote. I priced out your SE base model w/o sunroof etc and came in at $20,815. That includes a $1500 cash rebate but doesn't include a $500 loyalty rebate, $500 military rebate or grad rebates so you might be able to do better than that.

I told a friend about it and he saves $5-6K on a Honda. Even a Chevy Malibu ECO is $7k below MSRP.

I have been with USAA for almost 25 years. Their car buying service is currently an off-shoot of Truecar.com. USAA has negotiated some additional discounts with certain automakers, making their pricing on some models lower than the usual Truecar pricing.

The catch is that you have to go to a dealer that participates in the USAA car buying program to get the price. USAA gives you three quotes from the dealers, and tells you how far from your zip code the dealers are, but doesn't tell you the name of the dealers before you allow USAA to provide your contact info to the participating dealers.

I just priced out a 2013 Dodge Durango, and got quoted $6,000 off of MSRP. But I would have to go to a dealer 42 miles away to get that price. To me, that's too far to go for a car when I have 2 Dodge dealers within 5 miles of my house. USAA has negotiated an additional $1,000 cash back for purchasers using the USAA car buying service, so my local guys probably wouldn't be able to match the price.

For a 2013 Sonata Limited 2.4L with no nav, they quoted $21,481 from a dealer 17.4 miles away. A 2013 Sonata Limited 2.0T with no nav comes in at $23,114 from the dealer 17.4 miles away. 17.4 miles is a reasonable distance, although I would probably see first if my current dealer would match it since USAA has no additional negotiated discounts for Hyundais.

Car buying services are a catch 22 type of situation if you have a trade-in. You get a great deal on the new car, but then you most likely get a lower trade-in value. The dealer has to offset the discounting on the new car somehow...
 
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