New Purchase For My Manager

[chunderboy]

So, in light of my manager going to look at a jeep this weenend (i know i know) i was obviously not going to let him do that. So, instead he is going to go look at

A 4runner

So, this is what he is thinking about doing:

Currently he has a 2001 hyundai santa-fe GLS. With 40k on the truck. And the other one is a 2002 hyundai sonata with 20k on the truck as well. Let me previce this by saying that he is going to trade in 1 or the other depending on which one nets him the best money on the trade in.

With the car being used as the down payment for the purchase, what do you think would be the best deal that he should possibly get for a rig. Not sure which model he would want, but not sure if the bells and whistles are most important. ( most likely not).

So the question is:
Which one do you think would net the best deal on a trade in?
And which one do you think that he should get. ( the truck will most likely be used by the wife, with the new son. Protection is key here?
Oh, and how much to do you expect he would pay out the door for one with 4x4.

Any ideas, he is going tonight to talk to the stealer.

Drew

 

[Sac State]

I think he will shockingly find out that the Hyundais are worth pennies on the dollar. The depreciation for that brand that early in the product life will result in a shocker and is easily the worst residual value brand on the road today. He will probably need to trade both Hyundai's to get a substantial downpayment for the Yota.

 

[chunderboy]

But for blue book, it actually showed a trade in value of around 10k

 

[RonMAIDEN]

You get what you pay for.

 

[DaveS]

I would suggest you recommend he keeps in mind the golden rule - keep the discussion of trade-in separate from the negotiation of new purchase price. Don't focus on the difference alone. I would not even mention the trade-in at this stage.

Refer him to www.intellichoice.com - it tells you the real cost of running a vehicle - taking account of depn, fuel etc - although the Hyundai's are cheap to buy their overall cost is very high compared to the Toyota's (which he is about to find out). Once he sees the data there he may see the sense of paying more up front for quality etc.

 

[TRD04RUNNER]

your manager must be a hyundai fan I guess that 100k warranty must have sold him.! LOL:jester:

 

[chunderboy]

Yea, he was until he took mine for a ride. Now he is going for either the Honda pilot, or mine. He would be a shmuck and i would torture him every day if he went with the pilot