Why do Hyundai's seem to depreciate so much - Hyundai Forum: Hyundai Performance Forum
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post #1 of 18 Old 03-10-2005, 11:44 PM Thread Starter
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Why do Hyundai's seem to depreciate so much

Is there any good reason for this? My wife and I were looking at getting a new car(Altima, Focus, Mazda6 etc) but they're more than I want to pay for a car being used just to get the kids back and forth from school. Hyundai was actually recomended to us by another dealer. We checked into them and actually like the looks of the Elantra, but one thing has me worried. The Hyundai dealer even mentioned that we may as well just buy a used 04 with only 10k miles and save some money since they lose a lot of value. This is based on us just needing a "nice" transportation vehicle which isn't to small.

Who knows maybe he'll make a larger commission on a used sale, but if it saves me a few grand I really don't care. What I'm a little worried about though is the fact that researching a little bit it is clear that the Hyundai's do seem to lose a lot more of their value then other brands.

I'm not finding anything about reliability with them(atleast for newer models) or stuff like that. Even the few mechanics I asked said that they aren't really bad cars it's just that a Honda or Nissan is made a little better. Is it just that they're a newer/less known company? Or was there a lot of problems with them in the past?

Any input is welcome, and unless I get a bunch of responses that say the cars fall apart after 50k miles I really don't see a reason NOT to buy one.

Thanks,
Brad
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post #2 of 18 Old 03-11-2005, 12:32 AM
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Re: Why do Hyundai's seem to depreciate so much

When Hyundai's were released in the US about 20 years ago, they had quality nightmares that has plagued them with a stigma of building cheap cars that fall apart. This accelerated depreciation.

In the last decade or so, Hyundai has really focused on quality and their goal has been to beat Toyota at its own game. Starting int 2000 for the accent, 2001 for the elantra, 2003 for the Tiburon, and 2000(?) for the Sonata, the cars are easily the equal of any of the second tier Japanese manufacturers (Nissan, Mazda, etc) for quality and comfort, while having the reliability near that of Toyota and Honda. And so long as the car isnt overtly modified, the 100,000 mile warranty is upheld from what I've seen if anything goes wrong.

Also, read this article on the new elantras:
http://www.caranddriver.com/article.asp?section_id=15&article_id=2505&page_num ber=1

and

http://www.caranddriver.com/article.asp?section_id=19&article_id=3077&page_num ber=1

Honestly, if they made an elantra coupe, I'd buy one in a heartbeat. Definitely get the GT, stick with a 5spd, and feel free to beat the depreciation and get the year old model (the warranty transfers over).

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post #3 of 18 Old 03-11-2005, 09:39 AM
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Re: Why do Hyundai's seem to depreciate so much

I currently work at a nissan dealership, and I bought my Elantra here used. Hyundai's have been very good to me, I have never had to do anything other than regular service to them, and I beat on my cars pretty hard. I would say the quality and longevity are just as good as the Nissan Altima that is right in front of my office. Capitalize on the oppurtunity, and buy a used one and save a couple grand. I bought my 2002 GT 5 door for just under 7 grand including taxes. Only had 12k miles on it. Also, you can use MSN Autos, to check out the reliability rating of the Elantra at http://autos.msn.com/research/vip/reviews.aspx?modelid=10241&trimid=-1&src=ratings&tab=4#rel So go get your used Elantra, save a few thousand dollars, and enjoy!!!!!
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post #4 of 18 Old 03-11-2005, 09:38 PM
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Re: Why do Hyundai's seem to depreciate so much

i had an 01 elantra, bought because my wife wanted the a car with a good warranty.Even knowing that hyundai had reliablity issues,hence with the new warranty they offered made it easier to decide.But i wanted a gk but she wanted the elantra so guess what happend ?(bought the elantra)it was a good car,but a 2years later and with only 46,000miles traded it in for a gk with 6000mi and they only gave me 4,800for the elantra.So in short they resale value sucks, people just know this going into buying a hyundai. happy hunting!!!
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post #5 of 18 Old 03-11-2005, 10:11 PM
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Re: Why do Hyundai's seem to depreciate so much

Quote:
Originally posted by skierd
[body]

Honestly, if they made an elantra coupe, I'd buy one in a heartbeat. Definitely get the GT, stick with a 5spd, and feel free to beat the depreciation and get the year old model (the warranty transfers over).
[/body]
although visually they're "quite" different, couldn't one consider the Tiburon an "elantra coupe" since they share a chassis? pardon my ignorance, as i know something like this would hit closer to home with older hyundai rd, and j2 models.

the quality of hyundai vehicles has jumped 10 fold over recent years. personally, i would take advantage of this. with hyundai's vehicle ranking much higher in safety and reliability, I'm not sure how long their questionable reputation from the 1980's will hold. Depreciation value may not always be so steep. (something to consider)

[Edited by nyne on Mar 11, 2005 7:13 PM]

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post #6 of 18 Old 03-11-2005, 10:29 PM
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Re: Why do Hyundai's seem to depreciate so much

i agree with big_rob buy slightly used i did with my tib and like i said it only had 6k on it and i saved $4500i know it wasn't new but it was new to me!
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post #7 of 18 Old 03-12-2005, 12:24 AM
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Re: Why do Hyundai's seem to depreciate so much

Quote:
Originally posted by nyne
[body]
Quote:
Originally posted by skierd
[body]

Honestly, if they made an elantra coupe, I'd buy one in a heartbeat. Definitely get the GT, stick with a 5spd, and feel free to beat the depreciation and get the year old model (the warranty transfers over).
[/body]
although visually they're "quite" different, couldn't one consider the Tiburon an "elantra coupe" since they share a chassis? pardon my ignorance, as i know something like this would hit closer to home with older hyundai rd, and j2 models.

[Edited by nyne on Mar 11, 2005 7:13 PM]
[/body]
I meant keeping the same elantra styling, only with 2 doors. Think accord coupe vs. accord sedan.

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post #8 of 18 Old 03-12-2005, 08:53 AM
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Re: Why do Hyundai's seem to depreciate so much

Agree with almost everything posted above... However, I'm in the minority when it comes to purchasing a car. If I buy one, I will drive it into the ground before I buy another one (or at least until the maintenance would exceed the annual cost of a new car payment or it leaves me completely stranded on the side of the road)... which ever comes first. For me, resale has no meaning. The primary factors for me were cost, warranty, reliability. cost to repair. No one can really touch the Hyundai when it comes to warranty, but because of the quality stigmatism Hyundai has associated with its name, there isn't a high demand in the used car market, so the resale isn't that high.

Driving in Ohio blows.
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post #9 of 18 Old 03-12-2005, 10:44 AM Thread Starter
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Re: Why do Hyundai's seem to depreciate so much

Thnkas for the responses.

I'm the type who normally would keep a car until it simply isn't worth it to do so. I drive a 94 regular cab 5spd ranger right now(tight fit with my 8yr old and 1 yr old in there) with 235K miles with only needing a starter last month and a tranny rebuild around 170k. It's been a very good truck to me so I had no reason to replace it but with the 2 boys I really need more room.

I'm not worried about the resale of the Elantra when I go to sell(no car I drive will be worth much of anything when I'm done with it most likely), I was just a little curious as to why it was so low.

Thanks again,
Brad
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post #10 of 18 Old 03-12-2005, 10:57 AM
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Re: Why do Hyundai's seem to depreciate so much

Residuals are always lower at the `budget` end of the market.........that`s just a fact of life!.

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