Pre owned pricing advice

[gaggan82]

Hi,
I've been looking for 5.0 ultimate.I shopped around for new ones and the lowest price i'm getting is around $51,500.
So i decided to look for preowned and found the colour combination i like. It has 4000 miles on it.After talking to the dealer, he has decided to come down to $42,700.I will have to pay for shipping as its in a different state.What are your guys' opinion on the pricing? Do you think i should haggle more or should i wait for 2016 model to arrive which would hopefully drive the 2015 price down?
Thanks

 

[Doc W]

Hi,
I've been looking for 5.0 ultimate.I shopped around for new ones and the lowest price i'm getting is around $51,500.
So i decided to look for preowned and found the colour combination i like. It has 4000 miles on it.After talking to the dealer, he has decided to come down to $42,700.I will have to pay for shipping as its in a different state.What are your guys' opinion on the pricing? Do you think i should haggle more or should i wait for 2016 model to arrive which would hopefully drive the 2015 price down?
Thanks

I'd suggest you haggle some more. Two weeks ago I finally found the 5.0L Utimate with the color combo I was seeking, and 2008 miles on the clock. It was at a Lexus dealer in Texas who advertised it on AutoTrader. We did our negotiating by phone for a few days, and finally arrived at a price of $41,900 out the door.

I'm also from AZ, so the only gov't imposed fees were a TX valorium (sp?) tax and a small charge for the TX temporary paper tag - no sales/use tax applied, since I'll pay that piper here in AZ. I flew into Houston, inspected/drove the car and did a wire transfer so I could hit the road the same day.

So I'd say you should be able to get a couple thousand lower price, especially since the 2016's are about to hit the lots. Good luck, and please keep us posted.

Doc

 

[srobak]

That's a great price, Doc - good work.

Do keep in mind however that by doing it Doc's way - it is not a CPO and does not qualify for any CPO protection or warranty add-ons. 5/60 and you are done.

 

[gaggan82]

That's a great price, Doc - good work.

Do keep in mind however that by doing it Doc's way - it is not a CPO and does not qualify for any CPO protection or warranty add-ons. 5/60 and you are done.

This one is a CPO with 10/100K warranty.
I had offered them 40,500 and they came back with the present number.
Is it possible that since it is from a hyundai dealership, they may keep the price little higher?

 

[Mark_888]

This one is a CPO with 10/100K warranty.
I had offered them 40,500 and they came back with the present number.
Is it possible that since it is from a hyundai dealership, they may keep the price little higher?

A car dealer (new or used) can offer to sell or sell a car for any price they think they can get.

If a car is designated as CPO, the dealer has to pay Hyundai Motor America about a $1000 (very rough number) fee to cover the extra warranty coverage that normally only original owners get. Only a Hyundai dealer can offer a Hyundai CPO, but not all used cars sold by Hyundai dealers are CPO.

 

[gaggan82]

A car dealer (new or used) can offer to sell or sell a car for any price they think they can get.

If a car is designated as CPO, the dealer has to pay Hyundai Motor America about a $1000 (very rough number) fee to cover the extra warranty coverage that normally only original owners get. Only a Hyundai dealer can offer a Hyundai CPO, but not all used cars sold by Hyundai dealers are CPO.

Thanks, that's informative.
I tried but they won't go below that price.

 

[Genentec]

as long as fuel stays at these levels then the 5.0 is the real bargain among the entire line up.

over 400 horses.... in a game of 6 cylinder 300 horse power offerings , this 5.0 takes the cake.

 

[Doc W]

Thanks, that's informative.
I tried but they won't go below that price.

I agree with Mark, I was/am under the impression that the CPO is worth an extra $1K or so. We rarely keep cars beyond 50K miles, so to me a CPO doesn't represent a good value for the $1K extra. If you keep your cars for mega miles or a long time, it could very well be worthwhile.

Given all this, I'd say you & the dealer are very close. If you can stand it, and don't mind somebody buying it out from under you, perhaps wait until the end of the month when dealers tend to get hungry then go back to close the deal at a price you like.

Doc

 

[rickkapur]

Wow...great prices. I wish i had held out for a CPO Ultimate v8; i ended up with a new normal v8 about 4 months ago....$45K; but Ultimate is well...Ultimate

best

 

[Genentec]

is there any thing else in the midsize to fullsize sedan market where u can get 420 horses for about 40k ?

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[Mark_888]

I agree with Mark, I was/am under the impression that the CPO is worth an extra $1K or so. We rarely keep cars beyond 50K miles, so to me a CPO doesn't represent a good value for the $1K extra. If you keep your cars for mega miles or a long time, it could very well be worthwhile.

Given all this, I'd say you & the dealer are very close. If you can stand it, and don't mind somebody buying it out from under you, perhaps wait until the end of the month when dealers tend to get hungry then go back to close the deal at a price you like.

Doc

Actually, I would probably rather get a used car without CPO, and then buy an Hyundai Platinum Extended Warranty for about $1500 or less. That would cover everything for 10 years - 100K miles, not just the drivetrain. That assumes I could get the car without CPO for at least $1000 less than with CPO.

However, in most cases, to get the extended warranty at a decent price, the car must be fairly new, and you have to shop around. Don't try and convince the selling dealer to give you that price. There are many posts on this forum that indicates where to get the extended warranty on the phone at a different Hyundai dealer at a decent price.

 

[srobak]

Actually, I would probably rather get a used car without CPO, and then buy an Hyundai Platinum Extended Warranty for about $1500 or less. That would cover everything for 10 years - 100K miles, not just the drivetrain. That assumes I could get the car without CPO for at least $1000 less than with CPO.

Are you sure you can do this? My understanding is that unless you are the original, new purchaser - you cannot get the extended warranty otherwise unless it is a CPO. ie: getting a used, non-cpo & putting the warranty on it.

 

[Alwaysforward]

Anyone can buy an extended warranty for a price.

 

[lobsenza]

You can buy an OEM extended warranty as long as the vehicle is under the original manufacturer's bumper to bumper warranty.

 

[BrazGenesis]

You can buy an OEM extended warranty as long as the vehicle is under the original manufacturer's bumper to bumper warranty.

You mean 3 or 5 years? The real bumper to bumper of pre-2016 models is 36 months. (exactly because of the limitations for electronics)

 

[Gunkk]

is there any thing else in the midsize to fullsize sedan market where u can get 420 horses for about 40k ?

http://bfy.tw/1lkk

 

[Doc W]

Thanks, that's informative.
I tried but they won't go below that price.

PM sent.

Doc

 

[geetee]

Hi,
I've been looking for 5.0 ultimate.I shopped around for new ones and the lowest price i'm getting is around $51,500.
So i decided to look for preowned and found the colour combination i like. It has 4000 miles on it.After talking to the dealer, he has decided to come down to $42,700.I will have to pay for shipping as its in a different state.What are your guys' opinion on the pricing? Do you think i should haggle more or should i wait for 2016 model to arrive which would hopefully drive the 2015 price down?
Thanks

you can do better than $42,700. $38k is more like it. '16s are right around the corner, and these cars lose value fast.

 

[gaggan82]

you can do better than $42,700. $38k is more like it. '16s are right around the corner, and these cars lose value fast.

Just curious,
What made you reach that number?
I understand that 2016 models should be coming soon,but is there any historic data with other models that shows how much of a price drop happens when the new model arrives (factoring in the fact that 2015 was a complete redesign)?