Posted on 04/16/2014 7:04:10 PM PDT by Kolath
I'm looking to buy a new vehicle after my old one (2005 Hyundai Accent) hit the 110000 mile mark. I've nicked-named it the "old gray mare"
I'll be going to the same Hyundai dealer who sold me the previous Accent. I'm looking at a 2012 Accent which was a lease and it only has 6176 miles on it.
Auto Check is "clean" and it's Hyundai "Certified Pre-Owned" (and under it's original warranty).
Any advice you can offer to make this a smooth transaction, save some money, and avoid pitfalls?
FYI: I'm already pre-approved by my local credit union (helps to have a 800+ credit score).
(Excerpt) Read more at edwardshyundai.com ...
Lets say this is benign and the car is okay (just been sitting on the lot for 8 months). What would cause this? Nobody interested, not pushed hard enough by the dealer, bad luck? Nibbles but no bites?
Why would you pay $13K for an Accent when you could buy the Elantra that is new for little more. I paid $16,200 for my 2013 Elantra with the preferred package that stickered for $19,600. It had 26 miles on the clock.
The Accent is not a “bad” car but it is not as good as an Elantra nor as comfortable or as well appointed. I’d offer maybe $10K or better yet, just buy a new Elantra for not much more.
Bottom line is that used cars are vastly overpriced in today’s market. At this time it is foolish to buy a used car from a dealer. Perhaps from a private individual where they aren’t out to make a killing off the retail customer. The used cars are where the dealers make their money. They offer little and price them thousands higher.
Finally, you are only going to get a partial warranty. When you buy new you get the full 10 year, 100,000 warranty. Buying used cuts it to 5 years, 60,000 miles. And the interest rates are higher for used cars.
I know a little about this subject having owned and driven a whole passel of Hyundais including the top line Equus that stickers for nearly $70K. They are great cars but money is money. Keep it in your pocket; not the dealer.
Subaru’s run FOREVER.
Parts for the Korean cars are often hard to get or quite expensive.
Get a Japanese car.
I suspect the economy is to blame and it seems to be priced high. Ask yourself what it would sell at auction. Or check Edmunds or NADA to see what the dealer has in it. Value it at the “Good” rating. That’s what they SHOULD have it in. If they have more in it it is their own fault.
Remember this, car dealers are just “moving iron.” They have no emotional attachment to these cars. And I didn’t either when I drove them over many hundreds of miles. I never even looked at them except to get them to where they were to go and get the trade back to where it had to go. Then I took the temp plates off and went home. Never looked back.
That’s all any car is; just a piece of iron. All hype for the most part. Most cars with a few exceptions are pretty good these days. Pick out what appeals to you and pay your money and don’t get emotionally attached to it. It will wear off in about 30 minutes after you drive it off the lot anyway. I’ve owned about 65 cars in my lifetime. I forget that I have two new ones sitting in my garage. I don’t even wash them or change the oil. They go back to the dealer and let him fool with them. Frankly, they are a necessary evil in today’s America.
That’s not true. Where did you come up with that gem?
At the parts store.
Thanks for the advice.....will go to Edmunds to get its true market valule (and use that amount as a benchmark).
my camry is over 200,000 and it runs great.....
It’s not typical. If that dealer has had trouble moving it for some reason it would be discounted to move it, or sometimes dealers for same manufacturer will swap vehicles on the used lot. Ultimately it would be sent to the vehicle auction. They don’t just sit on them, in my exposure.
Just a few points. The first is that as a return buyer, you might find that purchasing a new one from the dealer won't cost that much more when you bring up what you have to pay for the slightly used one. Another is that mine has those new tires that don't use air, and personally I don't like the ride as much. A third is that the first Hyundai I had was boxier than the next two. Like all new cars, there are blind spots to the side and back. I actually preferred the design of the 2001 boxier, simpler car.
But definitely, the new Hyundia Accent gets unbelievable highway mileage, is well constructed and high quality, and is a real surprise for the price.
My wife’s Hyundai Santa Fe is at about 110,000 and it drives like brand new. No issues whatsoever.
The 10/100 warranty for drivetrain generally doesn't transfer to a different owner (unless they say it does in writing) and the 5/60 bumper to bumper is 3 years done. I'd seriously consider wrangling them down on price for a new one. For the difference in cost. They're basically only discounting it $1,000/year.
Most cookie-cutter newer cars are down by 2/5ths to 1/2 in value after 3 years. For that Accent, they should be closer to $9,000 or $10,000 from the dealer, not $12,000.
My 2010 Santa Fe was $25,000 off the lot and I was offered an even $12,000 for it a month ago. They'd turn it around for $15,000. So retail, that's 60% of original price. That's a 10% loss per year in retail value. So, if you look at that same Accent, even using a new 2014 price, the price should be closer to $10,000 retail figuring that same 10%/year drop in retail value.
My 2004 Honda Pilot has 185,000 and still going strong, why do you want a car payment and interest? If you can’t pay cash for a car, drive the old gray mare and save for a different car.
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