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Car Forum / Hyundai Cars / October 2006Hyundai 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 ? ____________________________________________ Featured Best Seller Book : "I Don't Have Enough Faith to Be an Atheist" (a fair appraisal of what Atheists DO believe in for their worldview). Address:http://www.impactapologetics.com/product.asp?numRecordPosition=1&P ____________________________________________ > That seems like a steep drop ; why do u suppose Hyundais dont hold > their value too well ? 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 > That seems like a steep drop ; why do u suppose Hyundais dont hold > their value too well ? 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.  SignatureEd http://pages.cthome.net/edhome/ > 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. 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? :-) > 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. 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 "Matt Whiting" <whiting@epix.net> wrote in message > 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 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. > 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. 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 Yes, of course you are totally correct. I never think about totaling the car. Hope it never happens. > 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 [quoted text clipped - 3 lines] > > Matt > "Matt Whiting" <whiting@epix.net> wrote in message > [quoted text clipped - 8 lines] > to know for sure if it was a good decision. I'll probably hit 2000 miles > tomorrow. 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. > 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. 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 > 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. You're right, but I feel smarter and smarter with every day and mile that rolls by. ;) - Bob '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. ____________________________________________ Featured Best Seller Book : "I Don't Have Enough Faith to Be an Atheist" (a fair appraisal of what Atheists DO believe in for their worldview). Address:http://www.impactapologetics.com/product.asp?numRecordPosition=1&P ____________________________________________ 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 >> That seems like a steep drop ; why do u suppose Hyundais dont hold >> their value too well ? [quoted text clipped - 29 lines] > time, no. My '91 Regal was worth the $1 they gave me for a trade and it > was easy to dispose of that way. > 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 [quoted text clipped - 13 lines] > what I like. I've been buying new cars every 2 years for the last 40 years > and never had that experience. 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. :o) 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 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 [quoted text clipped - 23 lines] > > Matt > No, Matt, my brains are still in place. :o) :-) > 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 [quoted text clipped - 3 lines] > 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 > No, Matt, my brains are still in place. :o) > [quoted text clipped - 5 lines] > 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 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. Signature-Mike- mmarlowREMOVE@alltel.net >> No, Matt, my brains are still in place. :o) >> [quoted text clipped - 13 lines] >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 > >> No, Matt, my brains are still in place. :o) > >> [quoted text clipped - 18 lines] > model used cars that were traded in by the previous owners simply > because they were afflicted with "New Car Fever" True, but not relevant to my point. I was responding to your comment that your American cars were worn out by 50,000 miles. That's just no consistent with reality. Signature-Mike- mmarlowREMOVE@alltel.net >> >> No, Matt, my brains are still in place. :o) >> >> [quoted text clipped - 26 lines] >your American cars were worn out by 50,000 miles. That's just no consistent >with reality. I have made no such comment. In fact, I will say my 1996 Dodge Dakota has over 100,000 miles and is still in "cherry" condition. Old_Timer > I have made no such comment. In fact, I will say my 1996 Dodge > Dakota has over 100,000 miles and is still in "cherry" condition. Sorry - I got lost in the attributes. My bad. Signature-Mike- mmarlowREMOVE@alltel.net OH, I'm not saying they were worn out at 50,000 miles!!! I'm just saying that we wanted to avoid any more reduction in resale value and the inevitable things that go wrong after the warrantee period expires. (Murphy lives with us) In all the cars I've had (Knock on wood), I've never had a lemon. When I traded them in, there were no major problems with any of them. It's just a habit we had gotten into of trading. Now, with a Kia and a Hyundai, our perspective has changed. Also, with me retiring the miles don't accumulate as fast and we have broken that visous tradein cycle. Matt, sounds like you better hang deer sirens all over that Sonota!!! I also have a 2002 Honda Civic, that I use occasionally. I was saving it as a trade in for a car for my son when he wears out his Jetta (145,000 miles). At least the Honda retains its value quite well. Tom >> No, Matt, my brains are still in place. :o) >> [quoted text clipped - 14 lines] > 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. > OH, I'm not saying they were worn out at 50,000 miles!!! I responded to this very quote from your original post... You said - "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." It was hard to read something other than what you said into what you said... Signature-Mike- mmarlowREMOVE@alltel.net I was too hasty in saying they were worn out. I guess I was caught up in the 'moment'. Senioritis syndrome....... I just seemed that, at 50,000 miles, you started hearing all kinds of expensive sounds that talked you into trading before the perceived sounds became a reality. Now, some of the older 1960's and 1970's cars WERE worn out by then! Reference any early model Chrysler product pre-Ioccoa. Tom > No, Matt, my brains are still in place. :o) > [quoted text clipped - 33 lines] >> >> Matt >I was too hasty in saying they were worn out. I guess I was caught up in >the 'moment'. Senioritis syndrome....... I just seemed that, at 50,000 [quoted text clipped - 4 lines] > >Tom If you really want to a "look back" I am old enough to recall when cars of the 1930's era frequently required ring and valve jobs at 35,000 miles. This was especially true for the early Ford V8's. Also the rear differentials were howling on many cars with 50000 miles. As for the bodies, it was not unusual for the fenders to be "flapping" when the car was 8-10 years old. There were no rust preventatives built into the cars of that era. The durability of the engines on all cars, domestic and imported, have seen substantial improvement over the years. Old_Timer >> No, Matt, my brains are still in place. :o) >> [quoted text clipped - 33 lines] >>> >>> Matt Amen, Old Timer!! I think a lot of these young 'whipper snappers' have no idea what 50,000 miles on a 1950's era car really meant. Hell, even the tires were good for only 10,000 miles or so. I had to have my 54 chevy rebuilt after 40,000 miles when I bought it for $395. Had to finance it for a year. :o) >>I was too hasty in saying they were worn out. I guess I was caught up in >>the 'moment'. Senioritis syndrome....... I just seemed that, at 50,000 [quoted text clipped - 62 lines] >>>> >>>> Matt > Amen, Old Timer!! > I think a lot of these young 'whipper snappers' have no idea what 50,000 > miles on a 1950's era car really meant. Hell, even the tires were good > for only 10,000 miles or so. I had to have my 54 chevy rebuilt after > 40,000 miles when I bought it for $395. Had to finance it for a year. > :o) And a 150 mile trip was and adventure on the two lane roads compared to the turnpikes and interstates we use today. Not to mention the headlights at night and lack of street lighting, poor road signs. My first car was a '53 Mercury Monterey. If it held fluid, it leaked. I carried oil, water/antifreeze mix, and trans fluid. Getting 3 years from a battery was excellent. Plugs were cleaned every 5k and replaced at 10k. Points lasted maybe 10k but often needed a tweak between. It did have an automatic choke that had to be cleaned a couple of times a year to function. IIRC the radio had tubes and being a technological oriented kind of guy, I added a rear seat speaker. Just got rid of my '91 Regal with the original exhaust system still in place. Second set of plugs, only serious repair was a water pump at 80k so at that time the radiator hoses and serpentine belt were replaced. It was on battery number 3 after 15 years. I forgot about the points, Edwin. Yep, I was good at that one. I could change them and adjust the dwell in just a few minutes. I guess 'practice' makes perfect. That's a lost art in today's environment. Ok on your reply, Mike. :o) Tom >> Amen, Old Timer!! >> I think a lot of these young 'whipper snappers' have no idea what 50,000 [quoted text clipped - 19 lines] > at that time the radiator hoses and serpentine belt were replaced. It was > on battery number 3 after 15 years. >I forgot about the points, Edwin. Yep, I was good at that one. I could >change them and adjust the dwell in just a few minutes. I guess 'practice' >makes perfect. That's a lost art in today's environment. >Ok on your reply, Mike. :o) > >Tom But how many reading here do you thnik know how the points were set on a Model A Ford? Old_Timer >>> Amen, Old Timer!! >>> I think a lot of these young 'whipper snappers' have no idea what 50,000 [quoted text clipped - 19 lines] >> at that time the radiator hoses and serpentine belt were replaced. It was >> on battery number 3 after 15 years. > I was too hasty in saying they were worn out. I guess I was caught up in > the 'moment'. Senioritis syndrome....... It's all right. We all do that. Ask me how I know... > I just seemed that, at 50,000 > miles, you started hearing all kinds of expensive sounds that talked you > into trading before the perceived sounds became a reality. Now, some of the > older 1960's and 1970's cars WERE worn out by then! Reference any early > model Chrysler product pre-Ioccoa. Agreed that back in the "good old days" we often faced some major repairs at mileage levels that today go unnoticed. The average car today will go well over 100,000 with no major problems (although they may indeed present some mind-boggling nusances), and today's engines can well be expected to run 200,000 with only the most fundamental level of care. Keep the oil changed, don't overheat it, etc. If you have to pay to get things repaired though, even those mind-boggling nusances can get expensive. Signature-Mike- mmarlowREMOVE@alltel.net I guess those expensive repairs for minor items is what makes us older folks cry out for the simplicity of a carburated 283 Chevy with a stick shift. We would all love to be able to troubleshoot and fix our own cars again. AND my 54 Chevy with its straight six got 20 miles per gallon! Boy, haven't we come a long way? I hate paying a garage $80 an hour to have the least senior guy in the shop stumble about trying to fix my car. My last visit to Kia to have the plugs changed and antifreeze flushed resulted in two more visits for them to fix things they screwed up getting the first job done. (unplugged sensors and cut wire) >> I was too hasty in saying they were worn out. I guess I was caught up in >> the 'moment'. Senioritis syndrome....... [quoted text clipped - 19 lines] > though, > even those mind-boggling nusances can get expensive. > Paid close to $18000 in 5 years value down to about 1/3. 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 >Paid close to $18000 in 5 years value down to about 1/3. It can be worse than Hyundai See table http://www.cars.com/go/advice/Story.jsp?section=buy&story=loResidual&subject=bes t_resale&referer=advice&aff=boston Old_Timer >>Paid close to $18000 in 5 years value down to about 1/3. > [quoted text clipped - 4 lines] > > Old_Timer 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. |
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