Hyundai Elantra Transaction Prices Higher Than Average
The average Elantra is selling for more than $1,500 above an average Corolla and more than $500 over the average Civic.
This is surprising, because a main reason shoppers consider the Elantra in the first place is due to its lower entry price.
The problem is that the Elantra has become too successful. There's more demand than supply, which results in less wiggle room when it comes to negotiating price. There are some dealers who are selling these at full MSRP, and some are bold enough to even put an additional dealer markup on top of that.
Car shoppers need to realize there are two prices when it comes to vehicles. The official manufacturer price, and the actual transaction price. Just because a vehicle has a low entry price doesn't mean you're going to get a better deal on it than the competition.
You need to be aware of how the demand affects the price that you'll ultimately have to pay. As always, my advice is to test-drive and cross-shop as many vehicles as you can, and get a good feel for the types of prices you will realistically have to pay. Only then can you make a fair comparison and see which vehicle offers you the best deal.
Use the CarWoo negotiation service to see real prices that dealers are willing to negotiate on the vehicle of your choice.
3 Steps Every Car Buyer Needs to Take to Save Maximum MoneyThe key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:
Step 1 Get Prices From My Trusted NetworkSelect the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
Step 2 Get Prices From TrueCar / CarsDirectTrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.
Step 3 Complete my ChecklistFollow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid