Bought a Car. A little disappointed with the end result. What are your thoughts?

[Ebtek]

i'll keep this short and to the point, but if anything's missing please let me know.

bought an 08 Hyundai Veracruz Limited DEMO last night (9800kms)

originally was looking at a new GLS (1 model down; limited = top, GLS = middle)

MSRP/Invoice (via Car Cost Canada, + 1610 pdi)) is as follows :

Limited:
$46 295 / $42 748

GLS:
$39 995 / $37 014


I had done about a week's worth of negotiating for the GLS (telephone & email), starting with a couple of dealerships, then narrowing down to one in Mississauga, that would sell me the GLS for invoice +$500, and give me the most for my trade.

i went in and signed the purchase agreement for a GLS.

then, the next day, (end of Nov)i started entertaining the idea of the limited demo.

went back and forth with the numbers again and finally the dealer accepted my (email) offer. in my offer i started with the invoice price and added/subtracted where applicable, ending with a finial purchase price, + cost of borrowing (0.09), calculated the grand total, then the monthly payment.

they accepted. now this is where it gets funny. they accepted on dec 2. starting dec 1, hyundai canada lowered their promotional rate from 0.09% to 0%. the dealer adjusted the purchase price and blended in the cost of borrowing, keeping the monthly payment the same.
there's about 3k worth of cost of borrowing.

when they accepted my offer the sent back a scanned purchase agreement. i skimmed it over and saw what the monthly payment was - it was what i had calculated, so i said good. went in last night and went through the process again. but it wasn't until last night, on the sales manager's screen, that i saw the rate had dropped to 0%. we discussed this a bit and he said my offer would not have been accepted if the rate was 0.9, which is obviously easy to say after the fact.

and now, after making this thread and posting the numbers for the limited (to be honest i hadn't payed too much attention to the limited's numbers until too late) i am noticing that i am only saving $150 because it's a demo

man i am seriously kicking myself

what do you think of all this?

[chrome_dout]

Sorry that you bought a Hyundai, and I'm sorry you didn't get much of a deal either.
I find that whenever a person wants something bad enough they are willing to pay full price for it.

[Ebtek]

Sorry that you bought a Hyundai, and I'm sorry you didn't get much of a deal either.
I find that whenever a person wants something bad enough they are willing to pay full price for it.

im sorry that you aren't familiar with the hyundai veracrus. they're a great car for the money

give this a read
http://www.motortrend.com/roadtests/...350/index.html

i didnt want it THAT bad, although i did want it, and it was poor timing on my part (to inquire about the demo only after i signed an agreement to purchase the GLS from them)

[Hybrid88]

Can you not back out of the deal? "cool off period"?

[Ebtek]

Can you not back out of the deal? "cool off period"?

what does this mean?

is there such a thing? legally?

edit: OMG, does this apply?

http://stage.cbs.gov.on.ca/mcbs/english/2706_3ea2.htm

[booblehead]

That's why when buying a car, you should always do your homework and NOT deviate from your choice/model selection & numbers that you had worked out in your mind.


Oh well, you already signed .. maybe it's too late to do anything ? Sorry to say.

[ES_Revenge]

Sorry that you bought a Hyundai

Great comment... If this was like 1990, lol.

As for the OPs situation, it seems like you signed on the GLS already and then they let you instead make an offer on the limited; so, I don't see why they would have a problem with you going back to the GLS, right? They might be annoyed but I think they would let you do that.

However the Limited is the nicer trim, so I think you should stick with that. 10k kms is pretty high on a demo though (must be an 08 they had since like last year?). When you say you only saved $1500 what does that mean? Did you get $1500 below invoice or $1500 off MSRP? If it's the former that's not great but okay; if it's the latter that sucks bad for a demo with those kms on it.

I hate to say it though, but it was you that made them the offer! Once they accepted it's technically binding as well. If you didn't think you were saving enough you shouldn't have made that offer.

IMO, your "mistake" was on the financing. Because you sent them an offer of what you wanted to pay after all that stuff was over (meaning the monthly payment). You should have instead calculated that all out on paper but only actually offered on the MSRP/basic purchase price, before taxes, fees, interest, etc. That's a pretty basic rule of car negotiating no?

Always negotiate from the MSRP (or invoice) not anything else. You can certainly calculate the other stuff so you get to what you want in the end, but don't make offers on that because there could be discounts and incentives you don't know about which would make it cheaper, but if you offered on the end result (or montly payment or "OTD" price) the dealer might include those things later as seen in your case and your actual discount is not as good.

[Ebtek]

Great comment... If this was like 1990, lol.

As for the OPs situation, it seems like you signed on the GLS already and then they let you instead make an offer on the limited; so, I don't see why they would have a problem with you going back to the GLS, right? They might be annoyed but I think they would let you do that.

yes. and that was their position.

However the Limited is the nicer trim, so I think you should stick with that. 10k kms is pretty high on a demo though (must be an 08 they had since like last year?). When you say you only saved $1500 what does that mean? Did you get $1500 below invoice or $1500 off MSRP? If it's the former that's not great but okay; if it's the latter that sucks bad for a demo with those kms on it.

yes, it was an 08. it was in their showroom (for how long, i don't know), and was told it was previously driven by the owner (a lady in her 60s i'd estimate)

I hate to say it though, but it was you that made them the offer! Once they accepted it's technically binding as well. If you didn't think you were saving enough you shouldn't have made that offer.

IMO, your "mistake" was on the financing. Because you sent them an offer of what you wanted to pay after all that stuff was over (meaning the monthly payment). You should have instead calculated that all out on paper but only actually offered on the MSRP/basic purchase price, before taxes, fees, interest, etc. That's a pretty basic rule of car negotiating no?

i just learned this the hard way. and it's unfortunate too, because i was feeling so good, for the past week, on how well i'd been doing on negotiating with several dealers on the GLS, and felt i got an amazing price (500 over invoice, and a good price for my trade)

Always negotiate from the MSRP (or invoice) not anything else. You can certainly calculate the other stuff so you get to what you want in the end, but don't make offers on that because there could be discounts and incentives you don't know about which would make it cheaper, but if you offered on the end result (or montly payment or "OTD" price) the dealer might include those things later as seen in your case and your actual discount is not as good.

agreed. in hindsight, they did say they would not have accepted my offer based on the purchase price, but that's easy to say after the fact.

[khtm]

I'd never, ever buy a demo. Well maybe if it was half price of the market value. People (potential customers, dealership staff, etc.) bag the **** out of them.

You can pretty much guarantee the break-in procedure wasn't followed. And even if they come with a warranty the transmission will probably fail the day after it expires.

[Ebtek]

Great comment... If this was like 1990, lol.
...

i just noticed his handle "chrome_dout" lol

i when you're use to flashy, shiny things, i guess a hyundai just cant compete...

[Ebtek]

I'd never, ever buy a demo. Well maybe if it was half price of the market value. People (potential customers, dealership staff, etc.) bag the **** out of them.

You can pretty much guarantee the break-in procedure wasn't followed. And even if they come with a warranty the transmission will probably fail the day after it expires.

worthless post, with nothing to back it up.

50k SUV != a new flashy sporty econobox like a civic or celica that the younger salespeople will want to "try out"

[ES_Revenge]

yes, it was an 08. it was in their showroom (for how long, i don't know), and was told it was previously driven by the owner (a lady in her 60s i'd estimate)

That's probably a lie. That's what every dealer tells every customer about demos. Usually the line is "it was driven by the manager's/owner's wife" It's always driven by a "lady" and always one that couldn't possibly have driven it poorly, LOL. The truth is that the car was driven by every Tom, Dick, and Harry both working at the dealership and coming into test drive it. They aren't going to tell you that because it doesn't sound so good, does it?

While I (like the poster above) am quite opposed to buying demos, I do think if you get a great discount on it then it might be okay. The only problem here is it sounds like you didn't get that great a discount I don't think the trans is going to "fail the day after the warranty" though, lol.

If they let you go back to the GLS or offer on another (new) Limited, I would do that instead. The ball seems to be in their court, but they do sound pretty flexible provided you're still buying a similar vehicle from them.

[Ebtek]

for what it's worth, my auto insurance dropped $27.75/month after deleting my 9 year old car, and adding the veracruz

[Ebtek]

That's probably a lie. That's what every dealer tells every customer about demos. Usually the line is "it was driven by the manager's/owner's wife" It's always driven by a "lady" and always one that couldn't possibly have driven it poorly, LOL. The truth is that the car was driven by every Tom, Dick, and Harry both working at the dealership and coming into test drive it. They aren't going to tell you that because it doesn't sound so good, does it?

While I (like the poster above) am quite opposed to buying demos, I do think if you get a great discount on it then it might be okay. The only problem here is it sounds like you didn't get that great a discount I don't think the trans is going to "fail the day after the warranty" though, lol.

If they let you go back to the GLS or offer on another (new) Limited, I would do that instead. The ball seems to be in their court, but they do sound pretty flexible provided you're still buying a similar vehicle from them.

ugh, you HAD to go there didnt you lol
based on their purchase agreement, the difference between the demo and a new one is about $38/month

[camber]

im sorry that you aren't familiar with the hyundai veracrus. they're a great car for the money

give this a read
http://www.motortrend.com/roadtests/...350/index.html

i didnt want it THAT bad, although i did want it, and it was poor timing on my part (to inquire about the demo only after i signed an agreement to purchase the GLS from them)

I think the Veracruz has been reported to have a ton of electical problems. Long term tests that I have read, haven't been kind.