Tennessee Hyundai Car Dealers

Picked up a Silver 2.0T SE without navigation but with autodimming mirror, carpet floor mats, mud guards, and cargo net over the weekend: MSRP: $25,580 Listed Transaction Price: $24,455 Trade-in: $6,069 (2002 Honda Odyssey EX, 132,916 miles) Net Price: $18,386 plus TT&L and $279 doc fee. Financed everything at 0.9% APR for 36 months. This was in Nashville, Tennessee. Keep in mind the dealer inflated the trade-in value in order to bring down the price of the Sonata; the Odyssey was probably worth about $5,000 optimistically (realistically closer to $4500-$4800) but if we assume the trade-in was worth $5,000, that meant the net price of the Sonata was $23,386. We didn't care how the dealer structured it as long as they hit the net price we wanted. Rock bottom price? No. But it was a fairly painless shopping experience and while the other dealers may have been able to beat the price by $200, it would have come back anyway in the form of a higher document fee. Also for some reason Nashville seems to be more expensive than other cities nationally in terms of new car prices.

My credit union can beat it by 1% and Capital One by .6%. In the end, he borrowed so little that the finance rate will not make much difference. Besides, most places I checked have a minimum amount to borrow even higher than Hyundai did... He really loves the car, nice looking inside and out - a lot "richer" than the older cheap Hyundai cars , Really nice stereo with XM, MP3, aux and ipod / USB included for the money as well.

I helped my son deal for his first new car yesterday. He decided on a 2011 Accent GS 3 door with automatic transmission in dark sapphire blue. The car had factory accessories of the floor mats, cargo net, and splash guards. MSRP (depending on where you look) would be $14,640, $14,670, or $15,640. Invoice would be $14,229 or $14,397 - all numbers include $720 destination charge and installed accessories. He paid $13,215 less $500 rebate less $1,000 finance rebate = $11,715 including destination or $10,995 for the car. They charge a $387.50 dealer fee, which we knew about up front and is on par with all the other local Hyundai dealers. So $11,382.50 for the car or $12,102.50 for the car with destination. The cheapest invoice I could find less $1,500 in rebates plus after rebate invoice at $12,799 so his price was $696.50 under invoice including dealer fee. This was the price without or with a trade and was the dealer's "Internet special" - the actual special was on a black GS AT with no accessories, but he preferred the blue one and they (have a brief negotiation) agreed to the same price for the blue and ate the $180 (at invoice) in accessories. Here in high tax land (7% plus local tax plus high tags) the OTD price was $13,275.35 including new tags, title, and all taxes. Here (and most places?) you have to pay sales tax on the rebates, so there were nearly $1,100 in taxes. He did have to finance (with Hyundai) $5,900 of the car to qualify for the $1,000 rebate. He loves the car, wish we could have found one for a similar deal with the premium equipment package (to get ABS) but there were none to be found. Shame on Hyundai for not making ABS standard on all their cars.

Looks like each dealer has a hand it setting the minimum, I got quotes of $5,900, $7k, and $7.k from the 3 dealers that responded to my question.

Just got a quote of zero down and 35 payments for 275.10 including TN taxes - based on a 2011 Limited with a selling price of $19,800, MF of .00106 and a resdiual of 62%. This includes a ACQ fee of 595 and a doc fee of 399.50 Thoughts?