Hyundai's Poor Resale Value
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  1. #1
    Mmmm-kay SilverWolf has not yet proved knowledgeable SilverWolf's Avatar
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    Default Hyundai's Poor Resale Value

    Well, I had been eyeing trading in my trusty GT for a new 07 Santa Fe Limited, had preapproved financing, everything looked good...until the trade-in evaluation. I understand that my GT has 142,000 miles on it and wasn't expecting the moon for it, but I was shocked when I was only offered $1500 for it. In the Kelly Blue Book, trade-in value for my car in fair condition (which mine was pretty cherry) is at least $3000. Dealer said used Hyundais just don't sell unless they are dirt cheap. The name isn't up there yet with Toyota, Honda, and the other Japanese car makers as a name people turn to when buying used. I went to a Carmax and got the same thing, only A little more at $1800. I still owe $4000 on it, and was expecting to take a little loss, but not that much.

    So ther verdict is I guess I just keep it, and drive it until the wheels come off. But, I may not buy another Hyundai until I know it will hold it's resale value a little better. It's a shame too since I've owned two Acuras and a Toyota, and my Hyundai has been as great a car, if not better in some respects than those.

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  3. #2
    Poster God ghrpdx has not yet proved knowledgeable
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    Default Re: Hyundai's Poor Resale Value

    Go to Edmunds.com and do an appraisal on your car, print it, and take it with you. The prices these websites come up with are quite close to true value. Of course the dealer is going to want you to surrender your car for $1500 so they can put it on the lot for $4500 and make a 200 percent profit. If you go in there with a serious offer and some figures in print, you'll probably make a deal.

  4. #3
    Former XD2 Owner elantra2570 has not yet proved knowledgeable elantra2570's Avatar
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    Default Re: Hyundai's Poor Resale Value

    When I traded in my Elantra I was $2700 in the hole. They base it off of a "black book" and not the Edmunds or KBB value. I only got $3500 for a trade in on my 2004 Elantra with 48,000 miles on it.
    Former XD2 Owner. Proud owner of a Laser Blue 2006 Chevrolet Impala 1LT.

  5. #4
    Junior Member SilverRide has not yet proved knowledgeable
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    Default Re: Hyundai's Poor Resale Value

    Yeah trade ins suck, you can...if you can find a buyer, make more selling it privately. Which does of course have its own headaches.

    You win cuz you get more than the dealerships offering, buyer wins cuz they don't get dinged with the 200% profit the dealers about to sell it for.

    I'm looking for a new(to me) '01 but at local car lots they want $8000 which is crazy considering I paid $600 for my current car.

    But then again, if the dealer has poor resale value whats a private buyer gonna expect to have to offer for it

  6. #5
    Administrator SuperGLS has information that can be trusted SuperGLS has information that can be trusted SuperGLS's Avatar
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    Default Re: Hyundai's Poor Resale Value

    Yeah, owning a Hyundai isn't quite as fun if you want to sell it.

    That's why I've decided an 8 year plan on mine. By then it'll be worth nothing and I can drive it into a pond and buy a new one.
    JustDonkeys: All the donkey news, info and fun you could want. Or on Twitter @JustDonkeys.

  7. #6
    Senior Member thewilson has not yet proved knowledgeable thewilson's Avatar
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    Default Re: Hyundai's Poor Resale Value

    Yeah I only decided to modify my beautiful elantra after I found out the resale values weren't there but I was happy with that because that means if I ever need parts I could probably find some relatively cheap not 198x's chevy truck cheap but not dealership prices

    Got the Accord CAI installed. Currently Looking for a car to play with

  8. #7
    Senior Douche BobMs_wht2k2 knows a lot about Elantras BobMs_wht2k2's Avatar
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    Default Re: Hyundai's Poor Resale Value

    First off. . . 142k miles on ANY car less than 9 years old is going to seriously depreciate the value. I don't care if it's a Lexus, 142k on a 5 year old car is way beyond the norm. 142k on a Korean import with a sketchy past and I personallythink you should be lucky they offered 1500. I don't think it's going to be worth much more than that privately.

    Secondly. . . this isn't exactly a new topic. Anyone buying a Hyundai and expecting there to be great resale hasn't done ANY homework. Hyundai has never had decent resale value and it'll be years before they do.

  9. #8
    Super Moderator hyunelan2 knows a lot about Elantras hyunelan2's Avatar
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    Default Re: Hyundai's Poor Resale Value

    You can always try to use poor resale in your favor, and track down a slightly used Santa Fe. Sure, it'll be hard to find an 07 right now, but there's gotta be a couple out there.


    2010 Equator Sport | 2002 Elantra GLS (sold) | 2003 Tiburon GT | 2004 Santa Fe GLS


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    Default User Title :) ba_feitl has not yet proved knowledgeable ba_feitl's Avatar
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    Default Re: Hyundai's Poor Resale Value

    Quote Originally Posted by hyunelan2
    You can always try to use poor resale in your favor, and track down a slightly used Santa Fe. Sure, it'll be hard to find an 07 right now, but there's gotta be a couple out there.
    Exactley ... the same carmax that's screwing you for your trade-in just got done screwing someone else who traded in an almost new SanteFe And they compare everything to KBB which you have access to. Of course they may consider you to have worse vehicle condition than you would...

    Brad

  11. #10
    Mmmm-kay SilverWolf has not yet proved knowledgeable SilverWolf's Avatar
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    Default Re: Hyundai's Poor Resale Value

    Quote Originally Posted by elantra2570
    When I traded in my Elantra I was $2700 in the hole. They base it off of a "black book" and not the Edmunds or KBB value. I only got $3500 for a trade in on my 2004 Elantra with 48,000 miles on it.

    This is along the lines of what the dealer explained to me. He said people come in to trade-in Hyundais with under 50k on them, and then they turn them around and sell them for only $3500-$5000 at the most. They just don't hold their resale, even if they have under 100k on them. But nevertheless, the dealer said people come in everday with little to no money looking to buy a used Hyundai because they know they can get a car with under 100k miles, some even with partial warranties remaining, for only a couple of grand.

    I've just decided now that the car is worth more to me than the $1500. I'm going to pay it off as quick as I can, then use it as a tinkertoy until the wheels literally fall off.

  12. #11
    19 second madman tharptroy has not yet proved knowledgeable tharptroy's Avatar
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    Default Re: Hyundai's Poor Resale Value

    try putting it up for sale in craigslist...its free, so if you get a few bites, great, if they lowball you, tell them to FOND.

    its at least worth a shot.
    "Setting up your car for autoX is like tuneing your car for parking." -liveforphysics

  13. #12
    Mmmm-kay SilverWolf has not yet proved knowledgeable SilverWolf's Avatar
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    Default Re: Hyundai's Poor Resale Value

    Deal done. Sorry, but I gave up on another Hyundai for the time being. Found a 05 Subaru Legacy GT Limited for $25,000 OTD with only 25k miles after trading off the Hyundai. Went to another dealer and they gave me $2,500, rolled the rest into the new loan. I will say my Elantra was one if not the best vehicle I've owned. I'm sad to see it go. Big thanks to all on this site, both those of you who are the moderators and everyone else out there who helped making owning my GT these past five years a pure joy.

    See you all on the flipside...

  14. #13

    Default Re: Hyundai's Poor Resale Value

    Hyundai's low resale value actually made me happy because all the cars I bought are used Hyundai. I'm going to keep my xd until I can afford to buy cars like STI or Evo w/o financing, which is after getting the degree and buying a house. So, its resale value means nothing for me. I won't care its value at that time... I'd just give it to someone... like one of my nephews...

    however, it seems that the resale value of Hyundai is growing..

    ps. my first car was 92' excel. 2nd was an xd 01 totalled last year. 3rd and current is xd 03. hurray the collision insurance anyways, .. i think i'm drunken right now.. writing replies on any forums and blogs... hehe........ >_<

  15. #14

    Default Re: Hyundai's Poor Resale Value

    My Eclipse was a '98 in mint condition with 155K on it. They gave me a $1000. I got the guy to agree to a price of the car before I ever mentioned trade. I already stole my '07 Elantra GLS for $14,700. (preferred option package and 100K bumper to bumper warrenty). I figured I had already talked him down enough that I was satisfied.

    SilverWolf, they probably gave you more for your trade because you bought a used car. They probably made a good profit on taking the Subaru in trade and turning around and selling it at 25K. An extra $1500 wasn't going to break the bank for the dealer.

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