Great Bargains To Be Had On Other Makes

[goodmove]

I am seriously considering the purchase of a low to mid 40's price range car. The selection out there is amazing in this price group. I drove a Tech Package Genesis and was told I could have it for $41,500 plus tax, tag and title (MSRP 40,000). Went to an Acura dealer and drove a 2008 RL with Tech Package, was offered for $43,750 plus tax, tag and title (MSRP 50,615). The M35 with Tech Package offered at $45,500 plus tax, tag and title (MSRP 48,065). Also found a 528i with NAV (MSRP 47,425) for $45,800 plus tax, tag and title. A MB E350 with Premium I Pack (MSRP 56,???) for $48,500. Tomorrow, I will test drive a Lexus GS 350 with NAV that lists around 48K and am told by phone that I can get at least 5K off. Going to check out the MKS and CTS also.

The Genesis is the cheapest of the group, but the only one going for a premium over MSRP while everyone else is going for a substantial discount. By the time the V8 arrives, the discounts might even be steeper.

I loved the Genesis 3.8 Tech I test drove Today and would have bought it on the spot if I could get it for around 36K or even 37K. Maybe in a couple of months reality will sink in at the Hyundai dealers and their "Market Adjustments" will follow the industry trend: Downwards...

 

[GrandPrix08]

First of all, welcome aboard. I heard that not all dealers go by the 'market adjustment' business. If you liked the car, and don't want to fork over that extra cash that they go by 'market adjustment', I suggest you to shop other Hyundai dealers also, who may go by MSRP only, rather than putting a premium OVER the price.

 

[goodmove]

, I suggest you to shop other Hyundai dealers also, who may go by MSRP only, rather than putting a premium OVER the price.

Thanks for the welcome!

I don't feel that the Genesis is competitive in Today's market at MSRP, specially since the resale history for the Hyundai brand is inferior to most other brands.

The residuals used for leases are guesstimates at best, and no indication of what I could get for my car when I trade it in. Dealers will always ask for a lot and offer very little.

My trade is a Camry Hybrid, and while I bring the trade into the picture after I have negotiated the best deal for the car I am interested in, the offers ranged from 23,500 to 25,400. Almost a 2K spread. This, at a time when on eBay, the "Buy It Now" prices of 2007 Camry Hybrids range from 28K to 30K

 

[Sal Collaziano]

If you own a Hyundai dealership and have been taking lots of calls regarding the Genesis over the past few months - with a growing waiting list of test drives and sight unseen pre-purchases, than it's a good possibility you'll be thinking you could raise the price of the car and still have people buy it. Now consider the possibility that people ARE buying your Genesis vehicles WITH the market adjustment attached. What are you going to do?

You can do one of two things:

1. Remove the $5000.00 market adjustment - because who likes money anyway?

2. Keep charging the extra $5000.00, put your kids through college and drop the market adjustment WHEN the customers willing to pay it run out.

What are you going to do? This marketing adjustment is ONLY affecting those who need or want the Genesis right now.

 

[Simonwpb]

Let's have this conversation in 90 days when there is field inventory. Nobody has to pay MSRP never mind a premium if they negotiate. The other lux brand dealers have aged inventory they have to move or they have to pay interest, the paint is still wet on these Genesis cars.

 

[sesame60]

Let's have this conversation in 90 days when there is field inventory. Nobody has to pay MSRP never mind a premium if they negotiate. The other lux brand dealers have aged inventory they have to move or they have to pay interest, the paint is still wet on these Genesis cars.

I couldn't agree with you more. This economy sucks right now and doesn't look like it will get better any time soon. The avg. home has lost more than 15% of it's value this year. Car sales are grinding to a halt (latest victim is Toyota as evidenced by their recent announcement of lower sales). How much longer do Hyundai dealers think they can charge a premium or MSRP? Only as long as there are people out there willing to pay that much for a Genesis. Reality will set in soon. As soon as a few dealers start offering these cars below MSRP it will immediately erode any pricing power that other nearby dealers have. Hyundai appears to have done a great job with the car (time will tell), but they will not be able to command a premium price too much longer when better, more established brands are giving huge discounts.

Just my $0.02.

 

[Sal Collaziano]

Hyundai appears to have done a great job with the car (time will tell), but they will not be able to command a premium price too much longer when better, more established brands are giving huge discounts.

Just my $0.02.

That makes all the sense in the world.. It's only a matter of time.. Being that the Genesis is new - some people who can afford to pay more - will to be one of the first to own the car. It's nice having something that no one else has yet.. That's all..