Author Topic: $11k Hyundai Elantra - Am I being silly?  (Read 3856 times)

hoyahoyasaxa

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$11k Hyundai Elantra - Am I being silly?
« on: October 24, 2016, 07:21:08 PM »
Recently we totaled our 2004 Toyota Corolla which had 160k miles on it and I've been spending a considerable amount of time doing research on newer used vehicles using Mr. Money Mustache's old friend Phil Edmonston's Lemon-Aid 1990-2016 Used Car Guide.  My initial criteria for a car was reliability - I wanted something that I could drive for at least 15 years.  After that, I wanted a car with easy repairs, a good engine and transmission, was gas efficient (25 mpg or better) and ideally would cost me less than $10k.  We are a family of three with a 2-year old and safety ratings are obviously important to me, as well.  I was only considering cars that were in Edmonston's "Recommended" or "Above Average" lists this year.

After test driving a number of cars, I am down to two:

1) A 2013 Nissan Sentra that is being sold by a family friend, who is moving out of the country, for $9300.  With sales tax, the total cost would be $10078.

2) A 2014 Hyundai Elantra from a dealership for $9895.  Including taxes and fees, the total cost is $11,500.

Truth be told, I liked the way the Hyundai Elantra drove much better than the Nissan Sentra (the engine in the Sentra was loud and far less powerful and it seemed to need a good amount of braking distance).

I am set to buy the Elantra, but I can't get over the fact that it seems absurd to spend $11,500 on a car (I'm paying in cash, of course).  This is the first car I'm actually buying, as both of my previous cars (a 2001 Jeep Cherokee Sport, and a 2004 Toyota Corolla) were hand me downs.

Is $11,500 just too much to spend on a car?  I just can't seem to get over how much this is going to cost.

alsoknownasDean

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Re: $11k Hyundai Elantra - Am I being silly?
« Reply #1 on: October 24, 2016, 07:36:34 PM »
Just think of how much the new buyer paid just two years ago. KBB says they were a $18K car when new, so you're not the sucker to lose $7K in two years :)
« Last Edit: October 24, 2016, 07:41:56 PM by alsoknownasDean »

patchyfacialhair

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Re: $11k Hyundai Elantra - Am I being silly?
« Reply #2 on: October 24, 2016, 08:13:15 PM »
Unless it's got a shit-ton of miles for being a 2-3 year old car, it's probably fine.

Only think I'd be wary of would be if it was previously a fleet/rental car. There's debate as to the reliability of those vehicles.

Also, doesn't Hyundai have a pretty solid warranty program? Does that add perceived value to the transaction? Up to you to determine the answer.

Sounds like a decent price for a decent car.

hoyahoyasaxa

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Re: $11k Hyundai Elantra - Am I being silly?
« Reply #3 on: October 24, 2016, 08:38:52 PM »
I know I'm getting a great price; just wish it could be a little cheaper.  39k miles, no accidents on carfax, although it is a previous rental.  I am having my mechanic check it out.

Lukon

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Re: $11k Hyundai Elantra - Am I being silly?
« Reply #4 on: October 24, 2016, 10:37:53 PM »
Which version is the one you're looking at? https://www.fueleconomy.gov/feg/bymodel/2014_Hyundai_Elantra.shtml

Yes, 11.5k on a vehicle seems like a lot. If the rest of your finances are on the sound/safe side and you're not pulling money from other needed areas (think Emergency Fund, anything with interest rates, etc), it seems like an overall good purchase.

What's the warranty information and what features from the warranty transfer to you?

I recently bought a hybrid for more than my 4runner sold for/was worth (spent an extra $200 to essentially trade cars) but I'm getting almost triple the mpg and a smoother ride. Handling is important and so is safety.

Khaetra

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Re: $11k Hyundai Elantra - Am I being silly?
« Reply #5 on: October 25, 2016, 04:54:12 AM »
I got one of these earlier this year as a rental and it was awful :(.  Handling on the highway was not fun and didn't feel safe, seats felt like you were sitting on a wooden bench and to top it all off it broke down.  I would suggest you browse the web for forums directly related to the car and see what others say about it before buying.

Le Poisson

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Re: $11k Hyundai Elantra - Am I being silly?
« Reply #6 on: October 25, 2016, 05:30:33 AM »
Did you read the first chapter of the guide that suggests buyer strategies? It seems there are 2 - one is to buy a highly dependable car and keep it for the long run, but will have expensive parts & repairs (ie. Toyotas*), the other is to buy a cheap car that has a poor service record and know that you will be able to get parts for cheap (ie. VW*)

I find domestic cars tend to run about the middle of the gamut. I can buy them cheap since the market is flooded with them and the dealerships struggle to make them exciting. Parts are readily available. And some of the newer ones have gotten past the crap electronics of the 90's and are now actually trying to compete with similar offshore models.

My latest purchase was a Chevy Sonic. Buying in stickshift means there will be fewer transmission surprises, and I can beat the MPG numbers with surge and coast driving. The car has available roofracks (removeable) which means we can haul our boat around. You can buy a trailer hitch for it, and although it can't tow a trailer, there are cargo racks and bike racks that fit the hitch. Under the hood, everything is reachable easily which means I can DIY most jobs - so far I haven't had any major repairs though. I believe the engine is actually Korean, but the cars are assembled in Michigan, so I can feel good about supporting North American workers. I got the car with 20,000 km (12,000 miles) on the clock for $8,000 CAD (driveaway under $10,000 CAD) two years ago.

So far the only real repairs its had are replacing a breather hose ($65.00) and add-ons I chose to put in (Fog lights, roof racks, winter tires). I also replaced a wheel bearing after hitting a curb.

Anyways, don't overlook the lower rated "domestic" cars. What is considered poor reliability today would have been considered top notch 15 years ago, and many times is more than adequate.

*Brands suggested from my own experience, which is admittedly biased to vehicles from about the 1990's.

ohmylookatthat

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Re: $11k Hyundai Elantra - Am I being silly?
« Reply #7 on: October 25, 2016, 06:41:23 AM »
surge and coast driving. does that save anything?

Le Poisson

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Cromacster

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Re: $11k Hyundai Elantra - Am I being silly?
« Reply #9 on: October 25, 2016, 07:01:05 AM »
I have a Hyundai 2013 Elantra GT, the hatchback version, which is sort of the same car as the sedan.

I really like it.  Most of my driving is highway and if I'm being deliberate in my driving I can hit 40mpg average for a tank, but I regularly cruise at 50+mpg at 65mph on flat stretches of highway.  If I'm driving more carelessly I usually get 37mpg on a tank.

I have around 60,000 miles and have had no problems.  Just gas, oil, and light bulbs so far.

Overall it rides well.  The rear end feels a little sloppy around corners and a lot of people on the hyundai forums talk about replacing some parts of the rear suspension to improve this.  Not sure if this is an issue with the sedan.

notactiveanymore

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Re: $11k Hyundai Elantra - Am I being silly?
« Reply #10 on: October 25, 2016, 07:15:27 AM »
I have had a 1994 toyota corrolla, a 2000 ford escort, a 2008 mazda 6, and a 2010 hyundai elantra. By far the mazda was my favorite, unfortunately it didn't survive the airborne flip and crash landing. But the Elantra I got with that insurance check has been awesome. I've had it since late 2011 and it was previously on a lease. Got it for about 10k and it had 40k miles on it. 5 years later and I'm sitting at 104k and I have only had routine maintenance. I spent about $700 last year getting new belts and other assorted items. Hoping to drive it for another 100k.

I also reaffirm your thoughts about the handling. It handles like a much much more luxury vehicle, especially when compared to the sentra, camry, escort vehicles in the same price range.

Basically, my name is theotherelise and I approve this elantra.

KMMK

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Re: $11k Hyundai Elantra - Am I being silly?
« Reply #11 on: October 25, 2016, 07:24:05 AM »
I had a 2013 Elantra and no complaints. I'd buy another at the right price.

Frugalman19

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Re: $11k Hyundai Elantra - Am I being silly?
« Reply #12 on: October 25, 2016, 07:31:05 AM »
Wife has a 2013 hyundai elantra. Great car, she got it new, her mother wanted to help her buy. We bought it for $18,000. It has 62,000 miles on it and basically runs how it did off the lot. Never had any machanical issues. We get about 35 mpg because I always drive fast, but we have gotten 40mpg on road trips.

I was thinking of buying a used one when my car takes a dive.

Dicey

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Re: $11k Hyundai Elantra - Am I being silly?
« Reply #13 on: October 25, 2016, 07:43:25 AM »
There is zero chance I'd buy a former rental vehicle. Might not even accept one if it was given to me.
Huge red flag at any price.

mm1970

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Re: $11k Hyundai Elantra - Am I being silly?
« Reply #14 on: October 25, 2016, 09:57:01 AM »
I have friends who have Elantras and they like them.

Our 2001 Chevy Prizm (aka Corolla) was a former rental car, and it was amazing.  It was sadly totaled in 2009.

As we shopped for a (new) car, we looked at Corollas, Elantras, and Civics.  Honestly I preferred the Elantra - it drove the best.

However, we knew that the Civic would hold its value better (which we'd never really considered before, but since the Corolla was totaled, it was on our mind.)



Also, it was not our first "former rental car".  My husband's 1986 Nova (also a Toyota) was great and we had that thing for over a decade.

Jack

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Re: $11k Hyundai Elantra - Am I being silly?
« Reply #15 on: October 25, 2016, 10:19:13 AM »
Hyundais have been good cars for at least a decade and a half now. (I owned a 2003 Accent, and it was great. I only got rid of it because a tree fell on it.)

That said, the particular Elantra contemplated is too new and expensive. Pick an older, cheaper one.

mcneally

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Re: $11k Hyundai Elantra - Am I being silly?
« Reply #16 on: October 25, 2016, 10:39:51 AM »
FWIW I have a 2010 Elantra (bought new) with 95k miles and haven't had any maintenance but oil changes and new tires.

Jack

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Re: $11k Hyundai Elantra - Am I being silly?
« Reply #17 on: October 25, 2016, 10:50:12 AM »
FWIW I have a 2010 Elantra (bought new) with 95k miles and haven't had any maintenance but oil changes and new tires.

Your timing belt is overdue for replacement. You probably need to do some other regular maintenance (transmission fluid change, etc.) too.