Here are some financial details on my recent purchase of a Hyundai Santa Cruz. With this info, you might be able to get a better deal from your Hyundai dealer.
I am assuming that under a best case scenario, I would have paid the MSRP for the vehicle and would not have been required to purchase the four mandatory add-ons. I also would not have gotten the veteran’s discount or the 0% APR financing.
I checked with most of the dealers in the Phoenix area via Web site chat, SMS Text, email, phone, etc. It appears that they all had some sort of mandatory add-ons. Some said that they added market adjustments and others said that they did not.
One month later, I am now seeing some dealers post market adjustment pricing on their Web site, but only for some of the Santa Cruz models. The market adjustments are up to $2500. I am also seeing some dealers post details on their Web site, including prices, for their mandatory add-on options.
From what I can see, almost all Santa Cruz’s are in transit. They are mostly sold before the vehicle gets to the dealer’s lot. If they are not sold when the reach the dealer’s lot, they are sold that same day.
I purchased the SEL trim package, Hampton Gray with Gray interior. Standard 191 HP engine and All Wheel Drive. Carpeted front and rear floor mats ($195) and towing hitch $450). If you get email price quotes, be sure to print out all quotes when you go to the dealer to finalize the price. The email price quotes may be lower than what you are quoted in the dealer’s office. If possible, have a primary dealer and a backup dealer. You may have to walk on the first dealer and go to the 2nd dealer. In my case, only one dealer had the color and options that I wanted. If I had walked on the first dealer, I might have had to wait for 2 – 3 months for something else to arrive from another dealer. For the moment, dealers have the upper hand. If a potential buyer walks because of pricing, then the dealer knows that they can sell the vehicle to someone else within hours – and a couple of days at most.
$30,560 MSRP (including Freight and Handling)
$32,560 Dealer’s price – I figure $1000 for market adjustment and $1000 for not using Hyundai financing that carried interest charges) – dealer would not really say what the extra $2000 covered – they said it was not market adjustment and it was not because they were getting no kickback on financing
Initially, there was only a $1000 mark up – before we talked about financing. I had an email message that showed no market adjustment, but I did not have that paperwork with me when I went to the dealer. I assumed that the price quote would remain intact.
$ 599 Window Tint – I needed the tint, but could have got it for $400 from a Tinting vendor
$ 899 Smart shield – paint treatment – probably a $30 bottle of ceramic coating – I did not need this
$ 299 Door guards and cup guards. I could have got the clear 3M door guards on Amazon for about $20 and another $20 for the cup guards
$ 299 Vehicle theft protection – VIN etched on the windows – I did not need this
$ 2841 sales tax
$ 499 doc fee – appears to be pretty standard at all dealers. I have seen some dealers charge $1000
$ 461 license and title
$ -500 veterans rebate – you do not need to be an active duty veteran to get the discount (that option appears to have expired)
$28958 Total cost after $9000 down payment
Here is what I should have paid without market adjustment, surcharge for 0% finance, no veteran’s discount, and 3.9% APR 48 month financing
$30,560 MSRP
$ 400 Window tint
$ 100 door edge guards
$ 2500 sales tax
$ 499 doc fee
$ 461 license and title
$ 2600 finance charge at 3.9% APR for 48 months
$25520 amount financed after $9000 down payment
$28120 Total Cost after $9000 down payment
I paid about $900 more than I should have. For the extra $900, I got the paint protection and vehicle theft protection.
I did not take any of the extended maintenance options that were offered when I was filling out paperwork for the Finance rep.
So overall, I feel that I came out pretty good.
Clint
AZ