Wanted - any Hyundai dealer US - Nationwide that sells Ioniq 5 without markups
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DLinLV
New Member
Here is what is going on.
I have contacted enough dealers (at least 12) looking for MSRP only deal and none will admit to a markup on paper, likely because they will get themselves in trouble with Hyundai or Feds. I wont go into the specifics on all of this but that would be a potentially costly mistake for them to admit to an actual markup.
I am very occasionally seeing "market adjustment" used to reflect actual markup above MSRP but the reality is they are hiding the markup in special packages. I have seen Protect and Shine Protection, Desert Protection, High Country Protection and even Special Vehicle Protection packages stated on invoices I have requested from multiple dealers. These usually are not posted on their websites, they like to hide them until they have you hooked on the car ready to do a deal.
These "packages" range from $3,000.00 to over $12,000.00 just for the package on the invoice. There is no listing of package contents in nearly every case. Some will list GPS, paint, VIN etch or fabric protectant as included in the "package". But, most dealers will not list on the invoice what constitutes the package because much like the markup, they cant justify charging $5k-$6K for a service they normally charge less than $1,000.00 on other models.
So, you can ask for markups and they say none, but then you need to ask what is required for any package and how much above MSRP it is. We have an order with a no-MSRP dealer who asked for $3k for their GPS, windshield replacement insurance and paint protect package. I got them to cut the package charge in half. So, I am still paying $1500.00 over MSRP but it does have some level of value to it for what is in the package. So, I dont feel like I am getting taken advantage on this vehicle.
I suspect any package will have some value, but just how much value is where you need to dig into the details. Ask for it, especially in writing. Also get details on registration, title, taxes as they add up quick.
Hope this helps in your car search and offer negotiation process. I am not looking to bash dealers, but looking to help all of us get a decent deal that is fair for both sides.
D
I have contacted enough dealers (at least 12) looking for MSRP only deal and none will admit to a markup on paper, likely because they will get themselves in trouble with Hyundai or Feds. I wont go into the specifics on all of this but that would be a potentially costly mistake for them to admit to an actual markup.
I am very occasionally seeing "market adjustment" used to reflect actual markup above MSRP but the reality is they are hiding the markup in special packages. I have seen Protect and Shine Protection, Desert Protection, High Country Protection and even Special Vehicle Protection packages stated on invoices I have requested from multiple dealers. These usually are not posted on their websites, they like to hide them until they have you hooked on the car ready to do a deal.
These "packages" range from $3,000.00 to over $12,000.00 just for the package on the invoice. There is no listing of package contents in nearly every case. Some will list GPS, paint, VIN etch or fabric protectant as included in the "package". But, most dealers will not list on the invoice what constitutes the package because much like the markup, they cant justify charging $5k-$6K for a service they normally charge less than $1,000.00 on other models.
So, you can ask for markups and they say none, but then you need to ask what is required for any package and how much above MSRP it is. We have an order with a no-MSRP dealer who asked for $3k for their GPS, windshield replacement insurance and paint protect package. I got them to cut the package charge in half. So, I am still paying $1500.00 over MSRP but it does have some level of value to it for what is in the package. So, I dont feel like I am getting taken advantage on this vehicle.
I suspect any package will have some value, but just how much value is where you need to dig into the details. Ask for it, especially in writing. Also get details on registration, title, taxes as they add up quick.
Hope this helps in your car search and offer negotiation process. I am not looking to bash dealers, but looking to help all of us get a decent deal that is fair for both sides.
D
danrjones
Active Member
Not sure where you are located, but plenty of dealers around me admit to markup and even have it on their website, AND have added dealer accessories that are nothing more than rip-offs. They literally list "market adjustment" on their website to the price.
But, I have found one or two that will do MSRP on incoming / ordered vehicles, just not ones on their lot. But since my wife isn't convinced its the vehicle for her, it may not matter anyway. She really wants an Etron Q4, which have been endlessly delayed in the US.
joshaxel
New Member
Just bought an Ioniq 5 in Maryland on Monday at MSRP, no hidden packages, etc. Antwerpen Hyundai Clarksville waived all "market adjustments" through end of January. If they don't sell all the cars they had coming in (25 Ioniq 5s), I'd wager they'll do it again to keep them moving and keep Hyundai sending them their way. Crazy the markups people are reporting on here...
A lot of people seem keen on the longer range RWD versions, but they seems very rare and I've heard interest is extremely high, so count on those to get marked up and stay marked up.
A lot of people seem keen on the longer range RWD versions, but they seems very rare and I've heard interest is extremely high, so count on those to get marked up and stay marked up.
Ride_Da_Lightning
New Member
Jenkins in Leesburg, Ocala etc. are $5k markup plus dealer installed items. They won’t give you a real price. If people would just stop accepting this nonsense, they would have no choice.
According to the linked article below, Hyundai reports record sales…stop paying more than sticker and just say no to dealer installed garbage.
https://insideevs.com/news/565050/us-hyundai-ioniq5-sales-january2021/
Hey, that's not too awful far from me. Maybe if and when the weather improves I'll go have a look at a 5 in person. Although we have Fitzgerald over this way and they have always been a fairly priced "no-haggle" dealer. I got my Tacoma from them in 2008 for a really good deal. But that was then... Have to check inventory before making a drive to either.
Jim Matthews
Active Member
I would suggest a six month boycott of *any* new car purchase is overdue. This is how monopolies abuse their consumer base.
danrjones
Active Member
I think it's regional. In my area most are RWD. Hyundai in Palmdale CA has had three SEL models, a white and two black. The white has sold already. All three were RWD.
DLinLV
New Member
I just called Palmdale and spoke to Anthony. He confirmed 2 on the lot and $10k markups. Negotiable if I come in, but 250 miles I said I need a commitment. Wouldn't happen, 10k it is. Maybe a local will do better with them.
West Herr Hyundai, 5485 Transit Road, Williamsville, NY 14221 ask for Scott D.
The dealership did not charge over MSRP and they did not try to push additional products on us. If you want extended warranty, ceramic coating and some other after market stuff they will sell it to you but you won't spend the whole day listening to them pitch it to you. When I picked up my AWD SEL, on the 31st of January they had more SE AWD models than SEL's. No Limited had come in yet. I think they are supposed to get more SEL and Limited AWD in mid February.
The dealership did not charge over MSRP and they did not try to push additional products on us. If you want extended warranty, ceramic coating and some other after market stuff they will sell it to you but you won't spend the whole day listening to them pitch it to you. When I picked up my AWD SEL, on the 31st of January they had more SE AWD models than SEL's. No Limited had come in yet. I think they are supposed to get more SEL and Limited AWD in mid February.
Stephen Goldberger
New Member
Interesting. I fought my way past road construction into Brandon Hyundai and found them somewhere between hostile and indifferent. Maybe I'll touch base with them.
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I purchased my Ioniq 5 in Danbury, CT. They sold it at MSRP. Dealer did normal nonsense about extended warranty that makes transaction longer than it needs to be...(Me: "no, no, no....")... but the salesman I worked with was very helpful and efficient in filling out the necessary paperwork. Worth checking with them if you are in NY - New England area....
The Limited AWD I reserved now has a sticker so can be priced. Should hear on that today and will update. We'll see if they keep their promises.
John
Dealer sticking with MSRP + 599 doc fee + taxes/title/registration.
My vehicle not coming till 2/23 now so can't 100% prove it, but he quoted me a monthly financed price that is spot on for the costs above.
This is Lia Hyundai of Hartford CT.
Note: CT sales tax is 7.75% for MSRP > $50k (6.35% otherwise)
I would propose that everyone who has a bad dealer experience report it to Hyundai corporate. They just send back a form letter saying state laws preclude them from policing the markup problem. But I would imagine someone is tracking all this. I told Hyundai corporate that buying a Tesla is as easy as buying a book on Amazon. A few clicks and done. They should aim for such price transparency and user experience. They are miles from that and they should know it is holding them back.