Does Hyundai hold its value like Honda and Toyota used to? (lease, vehicle)

[Jkgourmet]

We were interested in buying a 2-3 year old Honda Accord, Toyota Camry or Hyundai Sonata, with less than 30K miles. Frankly, we're pretty shocked at the prices for these used vehicles from dealers and having a very hard time finding them on CL or auto trader from individual sellers. Any recommendations on that issue would be welcome.

So, with all the dealer incentives, we are now considering buying a new vehicle, probably a 2013. We would probably keep this vehicle for 5-8 years (we are replacing our 2005 Camry with 95K miles, and also have a leased Hyundai Sonata).

I'm comfortable that Honda and Toyota will hold it's value, but what about the Sonata?

[MckinneyOwnr]

Our Hyundai didn't hold it's value very well. If we had bought it new, we'd have been upside down on it after 3-4 years. We bought it 1 yr old, and managed to get about 2k over the loan value when we sold. This was for a Tiburon.

[mkarch]

Historically, no. However they're a lot better than they used to be.

[Jkgourmet]

For that matter, do Honda and Toyota still hold their values like they used to?????

[cats234]

I would say a tiburon will depreciate a lot faster than a sonata. Tiburons were a pretty bad attempt at a sporty car and the sonata was a big hit.

[Creature of the Wheel]

Originally Posted by cats234

I would say a tiburon will depreciate a lot faster than a sonata. Tiburons were a pretty bad attempt at a sporty car and the sonata was a big hit.

The Tiburon's fuel economy is terrible!

[outafocus]

Toyota and Honda have sold ultra reliable cars for a very long time to earn their reputation, and high used car value. Hyundai only started building reliable cars in the early 2000s, and still have not quite made it to Toyota or Honda's quality yet. The also have to get people to forget about the low quality cars they sold here from the mid 1980s to the early 2000s.

I have no doubt that Hyundai/Kia will continue to improve, and their trade in value will increase.

[Archguy]

I was trying to buy a 2011-12 Genesis sedan with 12-15,000 miles recently and simply could not find a decent deal. Dealers were asking almost the same as new and simply would not bargain. Ended up buying a BMW for less money!

[rmissourimule]

I've owned four Hyundais and one Kia (sister corporations). In my somewhat biased opinion, the Hyundai is nearly at the level of Toyota and Honda and has the better warranty.

I currently have a 2013 Santa Fe and it is the best car I have ever owned. I'm thinking of buying a new Elantra as a second vehicle. There are some good deals available right now. Very tempting.

I've owned about 65 cars in my lifetime. In past years the Hyundai was not well received but it is not the car it was 15-20 years ago. The vehicles are made in Georgia and Alabama. So you are buying a made in a America vehicle.

But just to be certain check out Edmunds and compare the residual values to see for sure. Another way is to compare the lease costs. If the cars hold the residual values well, the lease payment will be lower because the maker won't take a beating when the lease expires. You can also buy the vehicle when the lease runs out. So it pays to check.

But you should probably cast a wider net. Seriously consider the GM and Ford brands. Fords have gotten rather pricey lately but I will say this I have never really had any problems with them. I dumped GM a long time ago when they wouldn't fix their bad cars. Today's GM models are much, much better and I have found their products quite enticing. I haven't looked at Chrysler vehicles recently. With the possible exception of Chrysler I don't think there are really any "bad" vehicles made today. The market won't support those brands for long.

Lastly, drive all of them that are comparably equipped and see what you like the best. Then you can crunch the numbers. Just remember that two transactions are involved in a trade-in. You buy their car and they buy yours. And the price is affected by the manufacturer incentives and the dealer's ability or willingness to wheel and deal on the MRSP and invoice plus hold-back (about 3%).

To sum up, I don't see the value deal as something I would lose sleep over. I think they are about the same nowadays. You can buy a new one for about what a used car would cost so I see it as a no-brainer to buy new.

P.S. I don't consider any European vehicle. Too expensive and too unreliable in my view. The Japanese and Korean models are essentially bullet proof and Ford and GM are nipping at their heels.

[Archguy]

Originally Posted by rmissourimule

I don't consider any European vehicle. Too expensive and too unreliable in my view. The Japanese and Korean models are essentially bullet proof and Ford and GM are nipping at their heels.

Indeed.... I love European cars but they are often costly and trouble-prone. They have other virtues

US cars have improved dramatically in recent years. The only car I've ever owned (and still do) which never needed a single repair is a Ford. Eight years and running now.