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Old 07-14-2010, 11:01 AM
 
Location: 77059
7,712 posts, read 17,921,355 times
Reputation: 3766
Quote:
Originally Posted by NJGOAT View Post
The hook on all of these is that they require you to pay the "posted dealer price" and may result in "financing rate being greater than value of car".
Isn't that standard for anyone who finance a new Hyundai, even without gimmicks? Seems financing a new Hyundai with all the bells & whistles is akin to committing financial suicide. Just look at how much they depreciate over the first year. And second year. All the while you're getting more & more upside down.

More than once I've heard Hyundai owners say things like "I got a good deal on it" paired up with "it was a good car, gave me 100k miles before a breakdown so I bought another new one!". Repeat, and be upside down on a car the rest of your life.

Actually if I were in the market for a 2-yr-old, economy, throw-away cash car a Hyuandai might be a good deal.
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Old 07-14-2010, 11:39 AM
 
13,569 posts, read 16,431,255 times
Reputation: 11638
Quote:
Originally Posted by tstone View Post
Isn't that standard for anyone who finance a new Hyundai, even without gimmicks? Seems financing a new Hyundai with all the bells & whistles is akin to committing financial suicide. Just look at how much they depreciate over the first year. And second year. All the while you're getting more & more upside down.

More than once I've heard Hyundai owners say things like "I got a good deal on it" paired up with "it was a good car, gave me 100k miles before a breakdown so I bought another new one!". Repeat, and be upside down on a car the rest of your life.

Actually if I were in the market for a 2-yr-old, economy, throw-away cash car a Hyuandai might be a good deal.
Can you name one single "regular" car in the entire world that doesn't depreciate like a rock when you drive it off the lot? I get your point, but it applies to all new cars, not just Hyundai.

The gimmick is still poor business practice, because they are using the apparent incentive to get people to pay MSRP or more for the car. Of course, buyer beware, but most other brands dealers don't do this (yes, they may mark up hot cars for added profit, but it isn't a universal). This is essentially preying on the uninformed who feel that they are getting a deal, when they are actually getting taken for a ride and that isn't even touching on what happens in the finance managers office at these places.

I know it is nothing incredibly unique in the car dealer world and they all have some gimmicks of some kind. I have just recently been amazed at the large number of advertisements from Hyundai dealers all using the same tactics. The two most at fault around here are Lester Glenn and Brad Benson. The ironic twist is that both of these dealers own other brands that don't use these same sales tactics.
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Old 07-14-2010, 12:01 PM
 
Location: Purgatory (A.K.A. Dallas, Texas)
5,010 posts, read 7,787,927 times
Reputation: 2263
If someone is stupid enough to fall for these gimmicks in this day and age, they deserve whatever they get.
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Old 07-14-2010, 02:36 PM
 
Location: NYC & NJ
747 posts, read 1,379,909 times
Reputation: 307
Quote:
Originally Posted by NJGOAT View Post
OMG...I think I am going to give up on this thread. The intention was to discuss dealer sales tactics and advertising as they relate to the perception of a brand.
I can relate. Several years back, I took my then GF to a Hyundai dealer (on Long Island) with a pretty firm intention of leasing a new Sonata. This was when Hyundai's renaissance was just beginning -- and by all accounts the Sonata was just as good as, if not better than, the contemporary Camry while being a good deal cheaper. Leasing seemed to be a good way of testing this new-found confidence in a brand which had previously had a poor reputation. And they had good lease deals advertised in the local papers.

The dealer experience was horrible, though. Not only did they refuse to honor the advertised deal, but they tried persistently to shove financing down our throats at a horrible rate. They kept wasting our time, going back and forth, the salesman we had spoken to (who had assured us she could get the ad deal) was conveniently nowhere to be found, and each time she wanted the lease deal, they played the usual 'let me ask my manager real quick' game and came back with some ridiculous purchase/financing offer. A. if she wanted to purchase the car, she could have paid cash on the spot, the APR being ridiculous, and B. she didn't want to purchase the car, but lease it instead.

Bottom line, they took a customer 99% set on taking delivery that day, and instead had someone leaving, fuming at the tactics and time-wasting.
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