Hyundai Resale value!

Paid close to $18000 in 5 years value down to about 1/3.

 

That seems like a steep drop ; why do u suppose Hyundais dont hold
their value too well ?

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Reputation for poor quality, hopefully, from the past. I've heard the
early Hyundai's were really pretty bad. I have an 06 Sonata and it has
been very reliable thus far. Quality is pretty good, but the interior
plastics on the dash are pretty chintzy and scratch very easily.
Otherwise, quality seems decent, particularly for the price of the vehicle.

Matt

 

IMO, that is not all that bad. Take a look at other 5 year old cars and
compare selling price to sticker price. My 2001 Buick LeSabre is showing a
retail sale value of about 1/3 of the sticker price. Trade in value about
60% of that according to KBB, but even less in reality since mine is high
miles. .

Getting back to Hyundai, they had a poor reputation for many years. Ask
anyone that owned on from the 1980's and see what condition it was in after
a few years. So it may have been many years ago, but reputations take a
long time to change. If you asked me even a few months ago, I laughed at the
idea of buying a Hyundai. Like the ads say "rethink everything" so I did
and found the car to be stylish, seemingly well made, a good value for the
money.

What changed my mind about the car? The owners of my company were on a trip
and had a Sonata as a rental. They were impressed with everything about it
and thought it was much better than the typical Impala or Taurus they would
usually rent. Given their high marks (they normally drive Lexus, Audi,
Corvette, Avalon) I thought it deserved a check out. I did so and was
impressed.

Also, I never liked the styling of the older Sonata. Just my opinion, but
it was nothing I would consider. IMO, all the new Chrysler cars should be
trashed also. I'd not buy a new Camry because the new front end is ugly
too. Obviously, others like and buy them but people even buy maple walnut
ice cream so there is no accounting for taste.

Did I consider resale value in my purchase? Since I keep cars for a long
time, no. My '91 Regal was worth the $1 they gave me for a trade and it was
easy to dispose of that way.

 

Likewise. The older Sonata's (and Hyundai's in general) had terrible
styling. They looked like a poor copy of a Jag in the front and I'm not
sure what in the back, maybe a candy bar that was in the sun too long.
I didn't like the "melted" look at all. It reminded me a little of the
original Ford Taurus ... butt ugly.

Yes, why would anyone eat maple walnut ice cream when you can have good
natural vanilla bean or strawberry?

Same here. I tend to keep vehicles until the wheels fall off. I hope
the Sonata holds up as well as my Chevy and Chrysler vehicles have held
up. So far, so good, but 13,000 miles isn't enough to make a judgement.

Matt

 

'Ask anyone that owned on from the 1980's and see what condition it was
in after a few years. So it may have been many years ago, but
reputations take a long time to change. If you asked me even a few
months ago, I laughed at the idea of buying a Hyundai. Like the ads say
"rethink everything" so I did and found the car to be stylish, seemingly
well made, a good value for the money.'

REPLY: I had a feeling it was about the earlier Hyundais ; yes, ive
heard aweful stories on that era Hyundai. Before i bought my 2002
SantaFe and a 2004 SantaFe for my elderly mom, i looked intently into
Toyotas RAV4 as it seems to have a much lower depreciation rate . But, I
just could not see spending the additional money for the RAV4 which had
less of a motor, less equipment, and less of a warranty . I didnt think
it was as stylish as the SantaFe either. I made good decisions as both
SantaFe's have been very reliable, practical, and fun to drive.

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I guess we won't know for sure for a long time. I was unhappy with my last
GM car and decided to go this way instead. But it will be a couple of years
to know for sure if it was a good decision. I'll probably hit 2000 miles
tomorrow.

I remember my father buying cars in the 50's and 60's and going back to the
dealer a week or two later with a list of 10 or 15 items to be fixed. Then
again in another few months with something else. So far, I have zero.

 

Resale value only actually matters if you intend to sell it. I plan to
keep mine for at least 10 years at which point it won't have any value
anyway. But that's OK. I don't look at my car expecting it to hold
value. I expect it to start when I want it to and not break down, and
perhaps be fun to drive.

It's transportation, not an investment.

My last car -a Toyota Corolla- was almost 12 years old when I bought my
06 Sonata. The Hyundai dealer wanted to give me 600 bucks for it.
Ended up selling it myself for more a little money but it was a 12 year
old car with a lot of miles. What IS that worth? Not a lot. Not even
a Toyota holds value.

In 2016, I bet my Sonata ends up being worth the same 600 bucks.

 

The last GM car I owned was a 1979 Chevette. However, my 94 K1500
really has been, as the commercials said, "Like a rock." It is 12 years
old and has been used pretty hard hauling firewood and plowing a 1700'
long driveway. It only has 95,000 miles as much of its work has been
"off road" where the miles don't rack up that fast. Other than a
pushrod that failed early during warranty (5200 miles) and a u-joint I
had to replace in the front driveshaft a couple of years ago (dur to
snow plowing most likely), it has been rock solid.

It hardly even shows any rust yet after driving in PA nad NY road salt
all these years. I see Nissans and Toyota's of this vintage and the
fenders are falling off of them.

I'll almost certainly buy another Chevy truck, but I expect to get 20
years out of this one at the rate it is going so my next truck will be
well into the next decade.

Yes, I've also had zero defects of this nature (assembly issues) with my
Sonata. I have several issues with many aspects of its design, but
these aren't things the dealer can fix.

Matt

 

Actually, it also matters if your car gets totaled in a wreck as my
minivan did last December. The insurance payout is based on the market
value of the vehicle in most cases (I guess some policies can be had now
with replacement cost coverage, but I've never had one). So,
depreciation could hurt a lot in that case as well as the trade-in case.

Matt

 

I bought a 3 yr old Hyundai for less than 1/2 it's original new value, from
a Hyundai *dealer*. Consider yourself lucky to only lose 1/3. Mine still had
a valid basic warranty when I bought it. Poor resale value equals great used
car value.

Still, I wonder if Hyundais depreciate that much worse compared to other
non-Japanese makes. In some ways, Toyota and Honda live in a parallel
universe.

Chris

 

It can be worse than Hyundai
See table

http://www.cars.com/go/advice/Story...subject=best_resale&referer=advice&aff=boston

Old_Timer

 

Yes, of course you are totally correct. I never think about totaling
the car. Hope it never happens.

 

I also like my 06 Sonota very much. I tried buying a Toyota but the two
dealerships I visited were so nasty and arrogant that I would never consider
them again. You can't even get to the cars without going through the
showroom and being assigned a salesperson. They have it fenced off to
funnel customers into the showroom. I had to show my salesman how to open
the hood!!! The sales manager called me 'cheap' because I didn't want to
pay the extra $500 that just showed up on the paperwork. Not even the
friggin dealer documentation fee, which was $700!!!!! Never will I set foot
in Togoa land again.......
In contrast, I was in and made a deal with Hyundai in 5 minutes. Took the
moon roof cost off without me even saying a word, gave me $1500 more off,
got the rebate, and I had so little to pay between the new car and the old
one that I couldn't make the $10,000 limit to get another $1000 rebate from
Hyundai Finance that they wrote ME a check for $6000!!!!! to make the
difference. Then I paid it off in 3 months with no penalty. Now THAT'S
what I like. I've been buying new cars every 2 years for the last 40 years
and never had that experience.

Tom

 

I had a pretty positive sales experience as well. Unfortunately, I got
a card in the mail that my salesman has since left the dealership and
somebody else took his place. Haven't been back so no idea how the new
guy will be.

A new car every two years! Either you are a traveling salesman or you
have more money than brains!


Matt

 

No, Matt, my brains are still in place. )

We had two cars for quite some time and both my wife and I worked so, we
alternated. We traded cars after they were four years old and we spaced
them so it was every two years. Four years and 50,000 miles was at the end
of warrantees and, since they were American cars, they were worn out by
then. Sad, but true. Someday our auto industry will wake up and make cars
that aren't ugly as crap and built the same way with Union labor that
doesn't give a damn about anything except their paycheck and benefits.

 

I've had the opposite experience. My American cars (mostly Chryslers -
Acclaim, and two minivans) and trucks (Jeep Comanche and now Chevy
K1500) have been much more durable than my foreign cars (VW Beetles and
Honda Accord). All have went well over 100,000 miles (well, my Chevy
truck is just shy of 100,000), with the Acclaim going to 143,000 before
being totaled by a deer and my 96 minivan had 178,000 when totaled by a
drunk driver.

My Accord suffered catastrophic engine failure at 72,000 miles when the
cam and rocker arms self-destructed. The two Beetles went over 100K,
but needed valve work, oil leaks addressed, etc.

The Accord had fewer teething pains when new than many of the American
cars (except the Acclaim which was nearly flawless from the start), but
began to systematically self-destruct at 60,000 miles. It needed
struts, new rotors, new drums, new exhaust system, etc., all at 5 years
and 60,000. My Acclaim had the original exhaust when it was totaled
ager 9 years and 143K. I'd just replaced the exhaust on my minivan at
10 years and 178,000 right before it was totaled.

I'm hoping the Sonata holds up more like the Acclaim than the Accord!


Matt

 

Interesting list, both the worst and the best. I did not expect to see Chevy
and Ford trucks on the worst, I would have though Lexus would have made the
top 1- best list.

 

I understand the alternating car purchase thing - we do the same, but
getting 4 years and/or 50,000 miles out of a car is crazy. I've driven GM
products for over 30 years and have consistently gotten 200,000 out of them
with no real problems. If you're only getting 50K out of a car, you're
either buying some real low end junk, or you're way too hard on a car.

 

Not necessarily true.
A car dealer's lot is filled with low mileage, good condition, late
model used cars that were traded in by the previous owners simply
because they were afflicted with "New Car Fever"

Old_Timer