Buy a new Sonata

Hi, guys,
Thanks for dropping by.
I want to buy a new 2005 sonata.
MY dealer said he could give me two options
1. Invoice price + 0% financing for 60 month
2. Invoice price + 2000 dollar factory rebate

I am buying a LX with leather, roof, and ABS
two questions
1. Do you guys think this is a good deal or not?
2. How much did you pay for your Sonata?

Thanks a lot

Tie

what is the invoice price?
I would never pay MSRP for a new car.
you can always find a better deal

what is the invoice price?
I would never pay MSRP for a new car.
you can always find a better deal
thanks, invoice is about 1500 to 2000 lower than MSRP

Hi there...

Just a couple of questions...Are you planning to keep this new sonata until it dies and never trade it in on another car? If the answer is yes, then I would take the 0% financing. Depending on the amount you are financing, you could actually save more in the long run than just $2000. Now, if you are thinking of trading it in within a few years, be prepared for a huge shock. As soon as you drive it off the lot, you just lost half of what you just paid for it. Hyundai just doesn't have a good resale value. Same thing with Kia(owned by Hyundai), Daewoo, Suzuki, etc. They just do not have a good resale whatsoever. If you are looking for something nice, for a good price, there are several others out there in the same ballpark as the price of the sonata, but more reliable and better resale value. I used to sell cars (yuk yuk i know) and I can give you a little advice if you'd like. I just bought a new car less than 2 weeks ago. I finagled and bitched and whined until I was happy with the deal. Just remember that YOU, as the buyer, HAVE THE POWER. The dealer needs YOU to buy thier car. I went to 5 different car dealers, test drove several different cars, worked a few numbers, and walked out on the deal when it wasn't what I wanted. The last place I stopped, worked me an incredible deal and I bought a 19k car for just over 11k by the time i signed the deal. Look for good rebates and do your homework. Edmunds.com has great information you can use to haggle your way into a car that makes you happy. They list invoice prices and also inform the consumer about dealer holdback. Remember the invoice price is not the same price as what the DEALER pays for the car. There are several things that come out, holdbacks, manf. to dealer incentives, etc. If you need any help, I'd be glad to give you some advice. Good luck!!!

If you are looking for something nice, for a good price, there are several others out there in the same ballpark as the price of the sonata, but more reliable and better resale value.

Better resale value, yes, but as far as reliability, and getting the same amount of car for the money, don't think so. I looked at a Honda Accord for my wife. For $24k, you got a 4cyl, with cloth interior. For a stick of $21k, I bought her a Sonata LX, with leather, V6, ABS. Not as big as an Accord, and resale isn't as good. But, since she puts almost 40k miles on her car a year, the warranty helps out. Just add on an extended warranty onto the already $24k base Accord, then you are looking more than $25k, maybe $26. So far, with over 60k miles on it. Nothing wrong with it yet. The Sonata is also ranked higher than the Accord in quality and reliability.

Well, Honda and Hyundai at two different ball parks. Honda has a good resale, but it's also higher dollar. I owned a '00 Sonata GLS with leather and all power. In 5 years I put 130K on that car. I'm a stickler for maintaining my cars and make sure that I take good care of them. Even with all my caution, I had electrical problems almost every 6 months, replace the tranny 2 times and by the time i traded it, had replaced two wheel hub assemblies in the rear (common problem)that cost $200 just for the part, let alone the labor cost on top. Not to mention it also liked to warp rotors and eat brakes. I'm not a speed demon and I don't run the pee out of my vehicles. In the end, I got a whopping $1500 for thing...a far cry from the $20,000 it cost me new. I'm not here arguing with you, but just trying to caution you about problems. If extended warranty is an issue as far as cost, did you know that the price on those is most times negotiable? Sometimes it may even be cheaper to go through a different company. Dealerships sell the warranties at a pretty profit. Not to mention all the other ways they squeeze your hard earned money right out of your pocket. Have you tried looking at any domestic cars within the same sedan size that between price and extended warranty cost would be close to the sonata? I know that Chrysler has a not so good resale, but not too sure about GM and other products. I guess looking at the big picture and to use your example, in one year, you might loose $2000 in value on a honda, but on a hyundai, you'll lose several times more than that. Like I stated though, if it's something you will keep till it's paid for, it may be a really good avenue for you and you won't care what trade will be 60 months down the road. There is a wealth of information on the net that you could check out that might help you as far as knowing what manufacturer's warranties are, rebates and reviews. I gave you edmunds.com, but there was another one I came across and if I can find it, I'll post it for you.

Both Edmunds.com (http://www.edmunds.com/advice/?tid=edmunds.g.home.header.advice.4.*), CarBuying (http://www.carbuyingtips.com/), CarInfo (http://www.carinfo.com/) and the Motely Fool (http://www.fool.com/car/car.htm)sites give potential car buyers loads of car buying tips that would benefit them in buying a vehicle.

As for the Sonata or any Hyundai vehicle for that matter. The resale value is a bit lower than usual, but throughout the years it has improved sustantially. I made a comparison (on another site) and found that comparing a Santa Fe against an Ford Explorerm the Santa Fe ended up being 3000 US dollars ahead. Considering the warranty and the add on dealer installed options I say it had a better resale value over all. Now the Sonata may be different and the one that you had might have more problems than usual. But comparing the problems these Hyundai vehicles have against other makes of comparitive size the Hyundais are better in value. Its unfortuently that the industry does not recognize it in resale value yet, but its getting there.

TS out

thanks for every body's input
I actually looked at Malibu, which has a better ride. However, for the equipment that i want , leather, roof, and ABS. It ends up 3.5K more expensive than sonata, comparably equiped.

The other car that I like is Ford fusion, however, it is not in the showroom yet.

As far as Japanese car is concerned, I don't buy them, no matter how good they are. It is my principle.