Trade-In Value Guarantee Question

[Gen0814]

This year Hyundai introduced Trade-In Value Guarantee, but there is not much detail on Hyundai site.
Let's take 2012 Genesis with tech package.
1. Site shows e.g. 53% for 31-36 months. Is it 53% off MSRP of base Genesis not including premium & tech package or 53% off MSRP with tech?
2. Mileage: is the percentage based on 12k/year? Description says "less any applicable mileage charges...", meaning more than 12k/year?
3. "If the vehicle is worth more than what we guaranteed, the customer will receive the higher amount". How is the current market value is determined? Using kbb, Nada, Black Book, dealer auction? Private sales? I think dealer will do everything possible to never go above 53% in this case.
4. Is 53% a fixed value for either 3.8, 4.6, R-spec? I would assume that R-Spec, e.g, would worth more (percentage wise) after 36 months that 3.8, isn't?

Comments?

 

[BacktoHyundaibychoice]

This year Hyundai introduced Trade-In Value Guarantee, but there is not much detail on Hyundai site.
Let's take 2012 Genesis with tech package.
1. Site shows e.g. 53% for 31-36 months. Is it 53% off MSRP of base Genesis not including premium & tech package or 53% off MSRP with tech?
2. Mileage: is the percentage based on 12k/year? Description says "less any applicable mileage charges...", meaning more than 12k/year?
3. "If the vehicle is worth more than what we guaranteed, the customer will receive the higher amount". How is the current market value is determined? Using kbb, Nada, Black Book, dealer auction? Private sales? I think dealer will do everything possible to never go above 53% in this case.
4. Is 53% a fixed value for either 3.8, 4.6, R-spec? I would assume that R-Spec, e.g, would worth more (percentage wise) after 36 months that 3.8, isn't?

Comments?

1. MSRP of whichever you purchase.
2. 15,000 per year, $.20 per mile over.
3. "Dealer determined". If you think you can get more that what he thinks it's worth, you don't have to use it as a trade. Sell it privately or to Carmax. The TVG is your bottome line, better options MAY exist down the road.
4. Don't know.

 

[Gen0814]

2. 15,000 per year, $.20 per mile over.

I don't drive nearly as much as I'm working only 2 miles from home. Currently my mileage is about 6-7k/year. So if I'm trading in 2012 Genesis for 2015/2016 Genesis or Equus what should I expect?

Does dealer provide all these numbers at the time of the purchase?

 

[BacktoHyundaibychoice]

I don't drive nearly as much as I'm working only 2 miles from home. Currently my mileage is about 6-7k/year. So if I'm trading in 2012 Genesis for 2015/2016 Genesis or Equus what should I expect?

Does dealer provide all these numbers at the time of the purchase?

Seems you're a likely candidate for a lease:

Under 12K per year
Likely to want a new car in 3 or 4 years
Lease-end purchase price is known up front (based on the same #s in TVG)
If worth more, great! If not, walk away or start over.

To answer your question though, mileage adjustments (pro in your case) exist though not to the extent you'd think. Using Edmunds for example, my '09
Gen was worth an extra $700-$800 due to low miles.

Last advice:
Don't be afraid to ask a dealer these questions. They aren't all jag-bags, and if you run into one that is just refuse to do business with him and move on.

 

[Gen0814]

I know, I'm currently leasing M35 which is ending next month.
Since car looks great and much under the allotted mileage I'm planning to trade it in instead of just returning at the lease end. Private party selling would probably be more profitable, but it's PITA dealing with lease sell/double sales tax...

I don't know if I'll trade in Genesis in 3-4 years, may be not if I really like the car, I'm just kind of a guy who likes to think more than a few years in advance Besides, have 2 kids with college approaching soon, and with nowadays tuition I don't think lease is an option.