Automotive

Reasonable OTD price for 2020 Hyundai Palisade Ultimate in Ontario?

  • Last Updated:
  • Mar 5th, 2022 10:31 pm
[OP]
Newbie
Sep 17, 2016
94 posts
68 upvotes

Reasonable OTD price for 2020 Hyundai Palisade Ultimate in Ontario?

I'm looking to finance it and I was hoping to get some up to date info and advise.
It's a new model, in demand and it's imported afaik, so I'm not sure what MSRP or "dealer invoice" I should start my negotiations from?

Here's data from Hyundai website (Ontario):
MSRP: $53.999
Delivery and destination fees: $1910
Other fees and levies: $127
HST: $7300
Total price: $63.546
Financing is at 3.49% for 24-72 months

Thank you! I very much appreciate your help.
Thread Summary
General Worksheet: https://docs.google.com/spreadsheets/d/ ... sp=sharing

You have 2 courses of action:
1. Negotiate up to 3-4% off MSRP (Salespeople do this for a living and need to make money too as there is no hold back in Hyundai vehicles, just a courtesy, it's not much but it's something)
or
2. (Most effective) Define your terms with the salesperson; Payment Term, Type (Weekly, BW, Monthly), Money Down, Amount Payable on delivery, and Payments you want to be at.
The manager/director will crunch the numbers to meet the payment/term you want (within reason)

Keep in mind, Hyundai's have much lower markup than competitors.
Keep your offers reasonable to save everyone and yourself time:
For example, if the website build is saying $700/month over 84m and you offer $600/m everyone and their moms are going to think you're off your meds.
($700/m-$600/m) * 84m
= $100/m * 84m
= $8,400 discount which is more than double the realistic amount on the Hyundai Palisade; meaning it's much less than what the Dealership bought it for)
98 replies
Deal Addict
Jun 26, 2009
4954 posts
4522 upvotes
GTA
Over 60K for Hyundai??? Original Pony owners are like : who's laughing now?
[OP]
Newbie
Sep 17, 2016
94 posts
68 upvotes
Tommy74 wrote: Over 60K for Hyundai??? Original Pony owners are like : who's laughing now?
Yes prices are crazy nowadays, I can't argue with that.
This one is a bargain for what it is. I checked it in person and oh boy I was impressed. Hyundai/Kia is known for bang for the buck and with this one you get a LOT of car for the money.
I'm a Nissan guy myself, but I'm jumping ships after seeing this one. I gotta say Hyundai came a long way from tiny econoboxes in 1997 to something like this Palisade. Just my opinion man.

P.S. I'm trying to find info on invoice and OTD, but it seems like it's a uphill battle as this model is in high demand and 2 dealerships I was at it's sold before it gets to the lot (only saw sold Palisades on the lot). :(
I mean, market will saturate eventually and sales will stagnate, giving opportunity to negotiate, but that means waiting a year or two :(
Deal Addict
Jun 26, 2009
4954 posts
4522 upvotes
GTA
Yes, I would say all American car makers are way behind Korean cars, and it didn't happen overnight.
Jr. Member
Mar 3, 2019
183 posts
168 upvotes
I would ask what the cost of borrowing would be on it. It may be worth to just lease it instead.
[OP]
Newbie
Sep 17, 2016
94 posts
68 upvotes
Update for future readers: did a lot of researching, registered on Hyundai forums, visited one more dealership I haven't been at yet.

So it looks like so called "dealer invoice" for Ultimate is $50.750, so selling at MSRP dealer makes $3249 over invoice (MSRP price $53.999). Also, worth mentioning that "dealer invoice" of $50.750 is not an actual true cost to dealer. Dealer true cost of buying it from factory is lower, but I suspect no one knows that cost except dealers themselves. Of course they are not telling it to us.

As of now dealers sell very close to MSRP and won't budge - just because this model is hot and demand is high. The dealer I went to today even sells it $2k markup on top of MSRP! Basically at this point if you don't want to overpay thousands - the only way is to wait until sales stagnate and/or supply catches up with demand. I've been told Hyundai underestimated demand on Ultimate trim and production is 1-2 months behind. Now this was told to me by dealer, so take it with grain of salt.

P.S. Also, on forums I stumbled upon one emerging issue. Turns out Palisade (as well as it's cousin Kia Telluride) are getting vibration on highway speeds 100-120km/h and it seems like it's a driveshaft/axle issue that Hyundai can't exactly pinpoint yet. Kia forums have same issue reported by many on Telluride with no fix yet. Dealers are giving owners runaround and Hyundai Corp denies claims after several dealers couldn't narrow down the issue. This is a bit concerning and imho maybe I'll wait it out until resolution or fix is found - I'm guessing in early 2020 dealers will be more willing to negotiate price too. So maybe that's the optimal route for now. Will have to stick to my Nissan (at least no issues with it lol).
Sr. Member
Sep 25, 2018
916 posts
1798 upvotes
Gvido66 wrote: Yes prices are crazy nowadays, I can't argue with that.
This one is a bargain for what it is. I checked it in person and oh boy I was impressed. Hyundai/Kia is known for bang for the buck and with this one you get a LOT of car for the money.
I'm a Nissan guy myself, but I'm jumping ships after seeing this one. I gotta say Hyundai came a long way from tiny econoboxes in 1997 to something like this Palisade. Just my opinion man.

P.S. I'm trying to find info on invoice and OTD, but it seems like it's a uphill battle as this model is in high demand and 2 dealerships I was at it's sold before it gets to the lot (only saw sold Palisades on the lot). :(
I mean, market will saturate eventually and sales will stagnate, giving opportunity to negotiate, but that means waiting a year or two :(
Like, do you get 2 cars out of it?
[OP]
Newbie
Sep 17, 2016
94 posts
68 upvotes
Micelli_Illuminatti wrote: OP, at $60K, talk to @bobblehead for tips on buying a nice, well-equipped Benz. Just sayin'.
Thank you! I need 3rd row - that's the problem, bigger family, mother in law - well, the usual :) Benz is a dream car, no doubt about it. However, cheapest 3rd row SUV they are offering as of now GLE 350 has $73.000 MSRP (with 3rd row option) and $83.000 final OTD price. That's about $20.000 more compared to Palisade. A bit too rich for my blood :)
In reality GLE 350 (while been a gorgeous car) is not really same size as Palisade. To get similar space I will need to opt for GLS which I also build at Benz website and it came to $105.000 OTD price. I wish I was that capable, but reality is that I'm not :(
[OP]
Newbie
Sep 17, 2016
94 posts
68 upvotes
AlicW93740 wrote: Like, do you get 2 cars out of it?
Haha, yes, almost. It has same cabin space as a Tahoe. So basically with 2nd row captains chairs you get 2-in-1: a minivan and a SUV/Crossover!
Member
Oct 15, 2008
283 posts
238 upvotes
canada
Why not get a Highlander? Couldn't you get one for a little over $50k OTD? Anyway, if you search a bit, there's an unhaggle thread around here, if you post there the unhaggle guy will get you an invoice price for you to start from.
[OP]
Newbie
Sep 17, 2016
94 posts
68 upvotes
Elusivellama wrote: Why not get a Highlander? Couldn't you get one for a little over $50k OTD? Anyway, if you search a bit, there's an unhaggle thread around here, if you post there the unhaggle guy will get you an invoice price for you to start from.
Thank you Elusivellama! the "dealer invoice" I posted ($50.750) is from unhaggle. The problem is that dealers are not budging lower than MSRP as of right now - due to high demand. They are taking advantage of people who want to have it now and can pay MSRP. Until sales stagnate a bit - it's going to be that way I think.

Highlander is an excellent choice and it was my first choice until I saw Palisade. Palisade is new model packed with Apple Carplay/Android auto, limited self-driving capabilities, huge 12.3 inch screen, HUGE cabin space - like similar to Tahoe in cabin space, while Highlander is a lot smaller inside, doesn't have Carplay or Android auto, doesn't have nearly half the options Palisade has. There's a new 2020 Highlander coming out in December - now that one will be a new model and it will be competing with Palisade and other competitors in its class. Current Highlander is outdated (it's same model introduced in 2013 with some minor changes).
Member
Aug 7, 2017
394 posts
412 upvotes
Wait 6-9 months until this isn't quite so new and you'll get these things for a steal. And you won't have to deal with buyers remorse seeing the cheaper prices.
[OP]
Newbie
Sep 17, 2016
94 posts
68 upvotes
bya1998 wrote: Wait 6-9 months until this isn't quite so new and you'll get these things for a steal. And you won't have to deal with buyers remorse seeing the cheaper prices.
Thanks bya! I'm actually thinking like that too. I think I'll wait it out. Of course it's easier said than done haha, so hard to be honest to wait for months until you can buy the car you want, but I think you are right, it's wise to wait in this case.
[OP]
Newbie
Sep 17, 2016
94 posts
68 upvotes
Lol, I just saw this thread got 2 downvotes. I'm guessing that's from Hyundai dealers :) I'm just sharing my findings about Palisade and high demand it has currently. I think this thread will be useful for someone like me who will look into Palisade financing in the future. At least we can keep track of what's going on with MSRP and if dealers are finally budging down from MSRP or not yet. That should not be offensive to anyone right?
Deal Fanatic
User avatar
Sep 8, 2007
9198 posts
10691 upvotes
Way Out of GTA
Gvido66 wrote: Lol, I just saw this thread got 2 downvotes. I'm guessing that's from Hyundai dealers :) I'm just sharing my findings about Palisade and high demand it has currently. I think this thread will be useful for someone like me who will look into Palisade financing in the future. At least we can keep track of what's going on with MSRP and if dealers are finally budging down from MSRP or not yet. That should not be offensive to anyone right?
Naw, there’s a few douches that just downvote anything and everything in automotive coupled with in this case the “hate anything Korean club”.....
[OP]
Newbie
Sep 17, 2016
94 posts
68 upvotes
cartfan123 wrote: Naw, there’s a few douches that just downvote anything and everything in automotive coupled with in this case the “hate anything Korean club”.....
Smiling Face With Open Mouth Thanks for reassuring me, I was starting to think I offended someone.
Deal Addict
Jul 8, 2013
2462 posts
3718 upvotes
Red Deer, AB
Gvido66 wrote: Update for future readers: did a lot of researching, registered on Hyundai forums, visited one more dealership I haven't been at yet.

So it looks like so called "dealer invoice" for Ultimate is $50.750, so selling at MSRP dealer makes $3249 over invoice (MSRP price $53.999). Also, worth mentioning that "dealer invoice" of $50.750 is not an actual true cost to dealer. Dealer true cost of buying it from factory is lower, but I suspect no one knows that cost except dealers themselves. Of course they are not telling it to us.

As of now dealers sell very close to MSRP and won't budge - just because this model is hot and demand is high. The dealer I went to today even sells it $2k markup on top of MSRP! Basically at this point if you don't want to overpay thousands - the only way is to wait until sales stagnate and/or supply catches up with demand. I've been told Hyundai underestimated demand on Ultimate trim and production is 1-2 months behind. Now this was told to me by dealer, so take it with grain of salt.

P.S. Also, on forums I stumbled upon one emerging issue. Turns out Palisade (as well as it's cousin Kia Telluride) are getting vibration on highway speeds 100-120km/h and it seems like it's a driveshaft/axle issue that Hyundai can't exactly pinpoint yet. Kia forums have same issue reported by many on Telluride with no fix yet. Dealers are giving owners runaround and Hyundai Corp denies claims after several dealers couldn't narrow down the issue. This is a bit concerning and imho maybe I'll wait it out until resolution or fix is found - I'm guessing in early 2020 dealers will be more willing to negotiate price too. So maybe that's the optimal route for now. Will have to stick to my Nissan (at least no issues with it lol).
I've a '20 Kia Telluride SX AWD V6, with May 9/19 build date. I have no vibration issues. Could be that earlier build dates have those issues.

I went with Telluride due to better interest rates.

Expect $0 discounts because it is still very early and demand > supply. I got few oil changes, a gas card, and all weather floor mats but I paid MSRP.

Good luck!
Be Balanced. Be Diversified. Stay Invested.
[OP]
Newbie
Sep 17, 2016
94 posts
68 upvotes
TuxedoBlack wrote: I've a '20 Kia Telluride SX AWD V6, with May 9/19 build date. I have no vibration issues. Could be that earlier build dates have those issues.

I went with Telluride due to better interest rates.

Expect $0 discounts because it is still very early and demand > supply. I got few oil changes, a gas card, and all weather floor mats but I paid MSRP.

Good luck!
Thanks TuxedoBlack! Telluride is a wonderful SUV! Yes, I'm hoping those vibration issues are a bad batch or something.
Deal Expert
Aug 22, 2011
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Dealership's true cost, includes hold back that you won't see.

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