Automotive

What would you pay?

  • Last Updated:
  • Feb 11th, 2013 12:26 pm
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Sr. Member
Jun 15, 2009
674 posts
367 upvotes

What would you pay?

I am about to place an offer on a Hyundai Elantra GLS 2010 model and looking for some RFD experts suggestion. I have done some research and e.

What would you pay for following specs..

Hyundai Elantra GLS
4 Door Sedan
2010 Model
19000KM
The asking price for the Car is 13600.

What would you think is reasonable price if you have to buy this car

Update:
Conditional offer: 11300

Car comes with 4 winter tires on the rim that's an add on

And off course will have manufacture warranty for 3 years. As car was purchased late 2010.

Posted by ghasita at 12:34 PM Feb 11th, 2013 | Edit
38 replies
Sr. Member
Jun 15, 2009
674 posts
367 upvotes
Thanks for the link. I looked up that but what confuses me is Retail and Wholesale value. Also, not sure which value should be your deciding factor, do you offer the wholesale, retail or somewhere in between?
Deal Fanatic
User avatar
Dec 11, 2003
5731 posts
199 upvotes
Toronto
I hate to be the one to bring this up BUT, for that kind of money you're looking at similar/same year Honda Civic's, while you won't generally find anything with near that low mileage(are you enamored by that?? not generally considered the best thing for a car), what you will get is a car that's made to go for years beyond that Hyundai.

You'll also run into issues with resale in a few years, although Hyundai's have seen a big improvement in resale value, they are nowhere near a similarly equipped Civic, so what more you pay upfront you'll get back when you sell it. Also don't forget that style of Elantra doesn't hold up well against the current edition.

Just a thought

Brent
--------------------------------------------------------------
HEATWARE.... if you bought from me ... thanks
Deal Expert
Mar 23, 2004
35606 posts
18999 upvotes
$12,250 and not a penny more sir! lol

Seriously though, I have my doubts about that 19,000km figure. I mean it's possible but seems a bit on the low side. What was the in-service date? Is this a private sale or at a dealer?
Member
Jan 12, 2013
440 posts
58 upvotes
Barrie, Canada
If its a dealer,ask to see vehicle history.
Sr. Member
Jun 15, 2009
674 posts
367 upvotes
So, after some negotiation, the price we agreed upon is 11300 (conditional offer). What do you think?

The car was driven by an old lady, so that's the reason of low mileage (I was told by owner).

Yes, I have also asked to see the vehicle maintenance history.
Sr. Member
Jun 15, 2009
674 posts
367 upvotes
googoo wrote: I hate to be the one to bring this up BUT, for that kind of money you're looking at similar/same year Honda Civic's, while you won't generally find anything with near that low mileage(are you enamored by that?? not generally considered the best thing for a car), what you will get is a car that's made to go for years beyond that Hyundai.

You'll also run into issues with resale in a few years, although Hyundai's have seen a big improvement in resale value, they are nowhere near a similarly equipped Civic, so what more you pay upfront you'll get back when you sell it. Also don't forget that style of Elantra doesn't hold up well against the current edition.

Just a thought

Brent

Points taken. Though, I have verbally placed an offer but will give a second thought. Thanks.
Sr. Member
Jun 15, 2009
674 posts
367 upvotes
Tigerz wrote: If its a dealer,ask to see vehicle history.
It is a private sale. And it was serviced late December, yet to see full vehicle maintenance history though.
Newbie
Jul 10, 2012
39 posts
7 upvotes
Washington
ghasita wrote: Points taken. Though, I have verbally placed an offer but will give a second thought. Thanks.

I would stick with the Hyundai... Despite the fact that Hyundai's have had terrible reputations and quality with my personal experience...

The insurance will be significantly less. Honda Civic's are the most popular car in Canada and their insurance claims are disgustingly high, making premiums expensive for everyone.
No, I don't live in Washington, RedFlagDeals....
I keep changing the option in my control panel, and you keep reverting it!
Hamilton, ON ftr.
Deal Expert
User avatar
Feb 26, 2004
26998 posts
4337 upvotes
Still too high. Push for $11,000 if you really want the car.

Make sure you get a pre purchase inspection done before finalizing.
Deal Expert
Oct 20, 2001
18709 posts
1326 upvotes
Sauga
Do it. (after a full mechanical inspection, of course)
$11300 is a great price, and the GLS trim is nicely equipped.
It's actually safer than a similar Civic, because Civic didn't get VSA (traction/stability control) until the 2012 model.
Deal Addict
Nov 13, 2012
1468 posts
68 upvotes
Edmonton
I wouldn't take it. The 2011 generation elantra is good one. 13 grand is way too much. I bet that's how much they paid new. I'd offer 8 grand.
Deal Expert
Jun 24, 2006
15769 posts
11167 upvotes
I wouldn't buy it. There should be better $10k cars out there.
Sr. Member
Jun 15, 2009
674 posts
367 upvotes
Rehan wrote: Do it. (after a full mechanical inspection, of course)
$11300 is a great price, and the GLS trim is nicely equipped.
It's actually safer than a similar Civic, because Civic didn't get VSA (traction/stability control) until the 2012 model.
Thanks for the all responses. I will try to negotiate more to see the price can be lowered to 11,000.

Some of the details I missed out on my original post.
Car comes with 4 winter tires on the rim that's an add on
And off course will have manufacture warranty for 3 years. As car was purchased late 2010.
Sr. Member
Jun 15, 2009
674 posts
367 upvotes
Gutty96 wrote: I wouldn't buy it. There should be better $10k cars out there.
Thanks for the response. I am only looking cars which are 2-3 years old, as I feel most of the depreciation happens in first 2 years of owning the car.

Also, I do plan to keep the car for at least 6-8 years, so I am not worried about resell value of the car.
Jr. Member
Oct 5, 2008
127 posts
7 upvotes
ghasita wrote: Thanks for the response. I am only looking cars which are 2-3 years old, as I feel most of the depreciation happens in first 2 years of owning the car.

Also, I do plan to keep the car for at least 6-8 years, so I am not worried about resell value of the car.
If you are sure you are happy with what the Elantra GLS has to offer, the price is good for the year-make-model with respect to kms driven.

As some other members have stated, there may be better pickings if you look at other cars that have recently gone off 3/5 year leases.
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Deal Expert
User avatar
May 8, 2005
31836 posts
1354 upvotes
ghasita wrote: Thanks for the link. I looked up that but what confuses me is Retail and Wholesale value. Also, not sure which value should be your deciding factor, do you offer the wholesale, retail or somewhere in between?
In theory, among other things, VMR wholesale is just a very rough proxy for the max value a dealer would give someone as a trade-in. So, wholesale is the more appropriate benchmark when it comes to assessing private sale values - in other words, ignore VMR retail values when it comes to private sales.

But keep in mind, the VMR wholesale # you get from the VMR site is a MAX value. And VMR max wholesale is for a vehicle that is in mint / showroom condition in and out an requires " 0 " work done. Unfortunately, only about 5% of the cars on the private market are in true mint / showroom condition. I'd think most private sale cars in above average condition would be closer to 15% +/- less than the max wholesale value # you get from VMR.

With this in mind, govern your offer accordingly. :)
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