2009 Genesis Resale Value

[Duaine]

I'm not even going to say anything other than at most of the local Hyundai dealerships around me they often use Kelly's Bluebook as a guide to what your trade is worth when dealing on a new car.

Oh I know they can change all kinds of numbers around. My main point is if you get time go to Kelly's Bluebook and take a look at what your 2009 Genesis is worth? Check all three catagories......retail, private owner, and trade in price.

I have a 4.6 w/tech and quite frankly I was shocked at what the value was listed in all three catagories. I'm not going to even put the numbers up but they value it pretty high!

When I have traded cars the last few times they used Kelly's bluebook over NADA, Edmunds or any of the rest. So gosh if I trade for a 2010 Genesis I hope they use Kelly's Bluebook once again!

As I said take a look at your Genesis value and then I would be interested in getting your take on this.

 

[Mark_888]

I'm not even going to say anything other than at most of the local Hyundai dealerships around me they often use Kelly's Bluebook as a guide to what your trade is worth when dealing on a new car.

Oh I know they can change all kinds of numbers around. My main point is if you get time go to Kelly's Bluebook and take a look at what your 2009 Genesis is worth? Check all three catagories......retail, private owner, and trade in price.

I have a 4.6 w/tech and quite frankly I was shocked at what the value was listed in all three catagories. I'm not going to even put the numbers up but they value it pretty high!

When I have traded cars the last few times they used Kelly's bluebook over NADA, Edmunds or any of the rest. So gosh if I trade for a 2010 Genesis I hope they use Kelly's Bluebook once again!

As I said take a look at your Genesis value and then I would be interested in getting your take on this.

I don't know about others, but it seems difficult to comment without knowing the numbers. Not sure what the secret is?

 

[JOwest]

I live in Canada. The prices I got for Washington state are:
Trade-in is $37,900
Private sale is $40,760
Dealer retail is $43,460

This is for the Genesis with 4.6/tech pkg with 6,000 miles.
Are these prices good?

 

[Duaine]

I don't know about others, but it seems difficult to comment without knowing the numbers. Not sure what the secret is?

Very well........ but the goal was to get members interested to go to Kelly's Bluebook and get an appraisal for their 2009 Genesis sedan and then watch the fun begin.
My Genesis
2009 4.6 Genesis Sedan w-tech pkg.
Currently 6700 miles
Excellent Condition

Retail- $44,925.00
Private Party-$42,225.00
Trade In- $39,025.00

I think you will see my point. Looks way high to me especially when I paid
$37,800.00 for mine brand new! And like I said, in my area many dealers treat Kelly's Bluebook like a bible for pricing. Many dealers around me here use Kelly's Blue Book right on their websites to appraise your trade.

I of course know these values can't be right..........It simply raised my eyebrow and I found it very interesting! Most of the time when I have used Kelly's Blue Book to get and arraisal I am ticked off of what I think is to low of an amount!

 

[moose66]

Those numbers probably are right for KBB and do look very good. But the dealer has the trump card when they say to you, "oh no, we use a wholesale number for trades, not KBB." So much for that very good KBB number!

 

[jjsC6]

Those numbers are garbage. First of all, they usually don't even post numbers for current year cars because there is so little history to work with.

Second, do you really think anyone is paying over MSRP for a used car when it's well known that a new one can be bought for $3000 + below list?

Dealers today go by the Manheim auctions to determine trade in values, then they negotiate the best deal they can.

 

[Duaine]

Those numbers probably are right for KBB and do look very good. But the dealer has the trump card when they say to you, "oh no, we use a wholesale number for trades, not KBB." So much for that very good KBB number!

I usually just discuss trade difference between what I am trading and what I am buying. It's kind of nice to negotiate one thing rather than new car price and then trade price. As you know they can make it look like they are really discounting a new car but then give you less for your trade. Or they may really get some people with what they think is high dollars for their trade but then not discount the new car much.

 

[Duaine]

Those numbers are garbage. First of all, they usually don't even post numbers for current year cars because there is so little history to work with.

Second, do you really think anyone is paying over MSRP for a used car when it's well known that a new one can be bought for $3000 + below list?

Dealers today go by the Manheim auctions to determine trade in values, then they negotiate the best deal they can.

What is also amazing is some dealers are still asking $45,000 yet for the 4.6 tech!

 

[Duaine]

Those numbers are garbage. First of all, they usually don't even post numbers for current year cars because there is so little history to work with.

Second, do you really think anyone is paying over MSRP for a used car when it's well known that a new one can be bought for $3000 + below list?

Dealers today go by the Manheim auctions to determine trade in values, then they negotiate the best deal they can.

I'm not sure 2009 is the current year anymore since many 2010's are out. I do agree with you however that there is no history yet.

One thing that I have heard of is that dealers are wanting used 4.6 Genesis Sedans. The dealership where I get mine serviced has said they have had a several people come in looking for a good used 4.6 Genesis. He claims first off its rare yet to find a used Genesis period and even harder to find a used 4.6 Genesis.

I'm just telling you what he said and I realise that could be total BS to. But it makes since because I don't yet see many on the roads period!

 

[jjsC6]

I'm not sure 2009 is the current year anymore since many 2010's are out. I do agree with you however that there is no history yet.

One thing that I have heard of is that dealers are wanting used 4.6 Genesis Sedans. The dealership where I get mine serviced has said they have had a several people come in looking for a good used 4.6 Genesis. He claims first off its rare yet to find a used Genesis period and even harder to find a used 4.6 Genesis.

I'm just telling you what he said and I realise that could be total BS to. But it makes since because I don't yet see many on the roads period!

I was at a dealer yesterday and was told the '10s are not out yet. What's the real story on that?

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[oreipa]

KBB is worthless

They are always the most generous and no one uses them, except to advertise sale prices, e.g. we sell for $1,000 under KBB. Silly. All dealers go by auction pricing for trade-ins (see Black Book et al.) unless they are insane. The pre-owned market is full of cars, and no dealer will give you more than auction for a car for two reasons. One, if they intend to send it to auction, then they will lose money if they give you more. Two, if they are a large used car dealer and plan to resell it because it's a sought after vehicle, they still won't give you more since they can always go to auction and buy five of whatever you are trading.

 

[dtreter]

I didn't see it but my dealer told me that a Genesis 3.8 V6 Tech with 18K miles on it went for $36,000 at a recent auction (Manheim auction ?). He was very excited about the results.

 

[genesismuse]

I didn't see it but my dealer told me that a Genesis 3.8 V6 Tech with 18K miles on it went for $36,000 at a recent auction (Manheim auction). He was very excited about the results.

I have been following Genesis numbers on Manheim (US $) for about 3 months now. I have access through my brother who works for a leasing company, so I check numbers day or night. I can tell you the following:

1) I have not seen a single Genesis on their for $36k, including the 4.6L fully loaded. The highest I have seen is (memory guess) about $34k for 4.6L stacked.

2) I normally only see about 8-10 on at any given time (there are 9 as I write this). The max I have seen is 12 cars

3) There are VERY few 4.6L on here. In 3 months, I have probably seen half a dozen or so.

4) the average price has been $28k-31k - keep in mind very few 4.6Ls.

5) '09 prices are just coming down as of this month. Today for the 9 cars on Manheim, the price ranges are $26,800 for a 3.0 condition rating (out of 5 - generally you want 4+) to $28,400 with Nav. This is the lowest I have seen but with the 3.0 condition rating, that make sense so they may not yet have really adjusted for 2010s.

Sidebar: I am surprised there aren't more 4.6L. Yes it more expensive, worse on gas and has excess power few will ever need. On the other hand, if you fully stack a 3.8L the cost difference vs a stacked 4.6L is about $2k (dealer cost). If I owned the car for 6 years, that's about $27 / mo. Not much difference if you ask me and likely better resale.

 

[crhbobby]

Hmmm.. I just bought my certified V6 Tech for $31,500 with 10.5K... If someone wants to offer me 36K, they are welcome to it. haha. The sticker price on my car at the dealer was 38,900....I am sure they were selling new ones cheaper than that.

Bob

 

[DeMAN]

The Genesis prices may stay a little higher than normal. These cars are in low supply at least in may area. Hyundai was smart not to flood the market with these cars. That will keep the prices a little higher than normal especially for the stack V8's.

 

[ImInPA]

I'm not even going to say anything other than at most of the local Hyundai dealerships around me they often use Kelly's Bluebook as a guide to what your trade is worth when dealing on a new car.

In my area, most use the black book numbers which are generally lower than Kelly's. I believe these are wholesale numbers. How much lower depends. If Hyundai ends up with a lot of leftover 2009's and offers significant discounts, this will also drive the market price down. Once the Genesis reputation is established, I think the value should hold up pretty good.