Genesis/Hyundai holding up value?

[Junkie49]

Is it just my area that there have been no visible price drop of 2011 Genesis model?

Granted the stocks are low, but all the dealers around here already have both V6 3.8 and V8 4.6 2012 in stock.

Also used Genesis in my area show lower depreciation hit. 2009 3.8 is priced about 29k where compared to current Hyundai Trade-in assurance show 48-44% value in 4 years.

I was personally thinking Hyundai, despite the Genesis line/Equus, will still lack value in the long run but when I look into it they are retaining their value better than they ever did before?

 

[skcbb]

dont know where your at. fitzmall.com has good prices and i got mine at shawnee mission hyundai in K.C. MO. and they gave me excellent trade in on my 2007 toyota avalon with a good price on my 2011 4.6. 17k trade difference. if your interested pm me and ill send you the salesmans name and number i dealt with. i live 250 miles from KC and did the deal via text. he was spot on honest. i was worried making deal that far away, thought they might renig when i got there but they didnt. best car buying experience ive ever had and ive had a bunch. im 58 and have probably bought 15-20 cars in my life.

good luck
by the way my Black w/ cashmere 4.6 Genny is the nicest car ive owned. i reeeeaaallly like it. only regret is that its not American!!! wake up Detroit

 

[faboo]

yea, prices really haven't gone down in my area (s. cal)

 

[msitter]

As I opined earlier in the year, the price increase on the 2012 will suck up some of the depreciation on older models, especially clean low mile 2009 and 2010 models. Since the cars prices were virtually static for the first three models, all the used models could only go down in order to entice buyers into new models. That along with prodigious rebates for anything from previous car ownership to kind notes to Hyundai served to lower used values. Cash for Clunkers also destroyed many good used cars and this has driven up the prices on all remaining used ones. If Hyundai would cease with the multitudinous rebates the average transaction prices would rise and used values would also firm up. They already provide a better value and better equipment across the line than anyone else, there is no reason to be underselling the market and also pay people to buy their product. Between price increases, C for C and the poor new model market, the BMW dealer offered a figure equal to what I paid for my 328i convertible 3 1/2 years ago as a CPO used car if I would trade for a new one.

 

[YEH]

Cash for Clunkers also destroyed many good used cars and this has driven up the prices on all remaining used ones.

C4C has virtually no input on the high price of used cars today.

C4C got rid of old gas guzzlers, not exactly the type of used cars that are in demand now (fuel sippers).

The main reasons for the high price of used cars are the Great Recession (which for a period btwn 2007-9 people bought/leased far fewer new cars) and the tsunamai (which has hampered the supply of fuel efficient autos from Japan).

What probably has helped the residuals on the Genesis (aside from the price hikes) is Hyundai having cut back sharply on incentives and fleet sales starting in 2010 (for instance, the Sonata had 12% fleet sales compared to 17% for the Camry in 2010) - which has pushed up residuals for Hyundai's lineup overall.

Edmunds just ended their long-term test of the Sonata and they calculated a 21% depreciation off MSRP.

 

[msitter]

C4C has virtually no input on the high price of used cars today.

C4C got rid of old gas guzzlers, not exactly the type of used cars that are in demand now (fuel sippers).

I beg to differ with you on that one but if you do a google search on cash for clunkers and used car prices you will most definitely find that there was a huge jump in used car prices due to that ill conceived government screw up. Last fall Smart Money, Forbes, USA Today and Newsweek all had lead articles about the rapid rise in all used car prices. Mannheim Auctions saw used car prices rise by up to 30%. Do your research.

 

[Mark_888]

Also used Genesis in my area show lower depreciation hit. 2009 3.8 is priced about 29k where compared to current Hyundai Trade-in assurance show 48-44% value in 4 years.

I don't know where you are getting the $29K price, but I doubt that seriously. Dealers list used cars at signifcantly over what they will pay on trade-in, and higher than they will sell it for. The only way to know how much it worth on trade-in is to take it to a place like Carmax and get an offer (where no new car purchase is involved).

 

[YEH]

I beg to differ with you on that one but if you do a google search on cash for clunkers and used car prices you will most definitely find that there was a huge jump in used car prices due to that ill conceived government screw up. Last fall Smart Money, Forbes, USA Today and Newsweek all had lead articles about the rapid rise in all used car prices. Mannheim Auctions saw used car prices rise by up to 30%. Do your research.

Used car prices did go up during and after C4C, but they after a year or so, they started to drop.

What C4C did do is get more people into smaller, more fuel efficient cars - which some owners, based on the offers they have been getting from dealerships, are actually now trading them in.

Again, the main reasons why used car prices have risen recently is due to the lack of supply based on slow sales from a few years ago (both retail and fleet sales) and the effects of the tsunami.

C4C got rid off gas guzzlers, and they're not exactly in demand right now (a family member had a 10 yr old Subaru Forester that they wanted to get rid off, but didn't meet the reqs. for C4C).

Five-year-old entry-level compact vehicles are now worth 72.1% more than they were last year, according to the National Automobile Dealers Association. At the same time, used-SUV prices have remained relatively flat or have fallen. Prices are expected to increase further through July, when normal seasonal demand for used and new cars peaks, NADA says.

For current owners of older, fuel-efficient small cars who are looking to trade them in or sell them, the price boost is a good thing. For instance, the 2001 Toyota Corolla has seen its transaction price jump 43.8% since last year, and the 2005 Hyundai Elantra’s price has gone up by 41.2%, according to Cars.com data.

And while Cars.com data shows the used car market overall is seeing prices rise, the largest, least fuel-efficient trucks and SUVs are seeing declines in transaction prices. The 2002 Ford Expedition has seen its price drop by 29.8% over the course of a year. That’s because people are trying to offload those types of vehicles, says Jason Gattari, owner of Rome Pre-Owned Auto Sales in upstate New York.

“You see a large increase in trade-ins for large SUVs — like the Ford Expedition or things with eight-cylinder engines — for Civics and Elantras, cars like that,” Gattari said.

http://blogs.cars.com/kickingtires/2011/05/used-prices-rise-for-small-cars-fall-for-suvs.html


C4C did not get rid of the fuel efficient small cars that are in demand today (if fact, it spurred sales of such vehicles - some of which are going onto the used car market).

Trucks, SUVs and other gas guzzlers (which C4C got rid off) have seen declines in used car prices.

I admit, I didn't really do my "homework" regarding the recent rise of used car prices, but just used some common sense.

I don't know where you are getting the $29K price, but I doubt that seriously. Dealers list used cars at signifcantly over what they will pay on trade-in, and higher than they will sell it for. The only way to know how much it worth on trade-in is to take it to a place like Carmax and get an offer (where no new car purchase is involved).

Depending on the vehicle - tack on a a couple to 3-4K for what the price would be at retail (or slightly less for private sale).

 

[tonygxp]

Is it just my area that there have been no visible price drop of 2011 Genesis model?

Granted the stocks are low, but all the dealers around here already have both V6 3.8 and V8 4.6 2012 in stock.

Also used Genesis in my area show lower depreciation hit. 2009 3.8 is priced about 29k where compared to current Hyundai Trade-in assurance show 48-44% value in 4 years.

I was personally thinking Hyundai, despite the Genesis line/Equus, will still lack value in the long run but when I look into it they are retaining their value better than they ever did before?

doubt it.

 

[Junkie49]

doubt it.

http://www.johnsonhyundai.com/VehicleSearchResults?search=new&make=Hyundai

They had those two white and black V8 for about a week now.
V6 was available like 1 months ago in all 3 dealers around my town.

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