Should I Trade it in?

Discussion in 'Hyundai Kona Electric' started by JedK, Sep 19, 2022.

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Should I trade in my Kona EV

  1. Yes

    0 vote(s)
  2. No

    1 vote(s)
  1. JedK

    JedK New Member

    Not sure what to do with my 2019 Kona Electric.
    My local dealer says they will give me $34K for the car.
    The vehicle is in new condition with only 13K miles on it.
    Assuming that offer is not total BS, now I'm thinking I should take the offer.
    The salesperson who texted me says she will take the car with no obligation to buy something else from them (probably because they don't have any electric cars in their inventory).

    My wife says we should give them the car, and then wait maybe months until something else becomes available (2023?). We both work from home now and we do have another car. We don't drive a lot anymore.

    I don't even know what I would replace it with, and I'm giving up a car that runs well. It has a brand new battery (thanks to a recall), and it's been housed in my garage.
    electriceddy likes this.
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  3. $34k is a run of the mill offer in the current market. If their offer has piqued your curiosity about selling you owe it to yourself to investigate your local market to ascertain what a best offer would be. It sounds like you weren't even considering selling until the dealer intervened so you are, literally, in the driver's seat.
    Kirk likes this.
  4. Is this more than you owe on the car?
  5. Assuming the $34K is in US funds and the need is not there, then ...yes, a very nice offer. Keep in mind it might take a little longer than you would hope to replace it, possibly late 2023 or early 2024, but it sounds like that is not an issue.;)
  6. Whatever outcome is chosen it seems wise to not miss the opportunity to ensure that your wife thinks it was her idea.
    OzKona, Wildeyed and Jim Matthews like this.
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  8. JedK

    JedK New Member

    Thanks for all your replies.
    I am on the fence as to whether or not to sell it. There are a few things I don't like about the car, but for the most part I do like it.
    To answer some of your questions.
    1) @Jim Matthews I own the car outright. I paid about $40K back in 2019.
    2) @electriceddy 2023 is what I was hoping. Maybe with the new "Inflation Reduction Act" I'll get an American Assembled EV and get that $7500 rebate. Cars that were not eligible (like the Chevy Bolt EUV will become eligible again. (Kona will not be eligible for the rebate though)
    3) @Wildeyed "$34K is run of the mill". I still wonder if that's a real offer (until they hand me a check). It's $6K over KBB for a car in "excellent" condition. Have you heard of people (maybe in this forum) getting more?

    I went to another Hyundai dealer yesterday and told the associate that I'm thinking of selling the car, and that I was offered $34K from another dealer.
    They looked at the car, and said they will get back to me today.

    Thanks again,
    Jed K
  9. Jimct

    Jimct Active Member

    Here's my 2 cents - 34K would go a long way toward a new car (new everything, tires, brakes, etc.) fresh 3 year warranty. Quite a few options out there today, but check out the I5, lots of back seat room, free EA charging for 2 years, and you mentioned the Bolt EUV, also better back seat room and that $7500 rebate. The downside is the waiting time, but if you can handle that I say go for new.
    apu, Kirk, Jim Matthews and 1 other person like this.
  10. Yes, I've heard of better offers. However, the exchange rate between Canada and the U.S. might muddy comparisons a bit. I was offered $31,000 CAN for my 2019 Ultimate with 40,000km. Another fellow said he got $40k+. If you want to sell and you're up to the challenge, I just think you could do better with a private sale. Given that you seem to be under zero pressure to sell and given the used car and EV market conditions, it sounds like the ideal time to press for the maximum price. Good luck to you whatever you choose though. It's definitely a seller's market.
  11. I was too a little nervous about being in a similar situation a few months ago. For me the move the Ioniq 5 turned out to be the right one. In many ways its is a superior vehicle especially if you travel a fair amount. Its so much more comfortable from a noise, suspension and room perspective. The DC charging is incredible fast compared to the Kona. I just came back from a road trip from western Canada to Dallas, Texas. I would frequently get peek 235 kW charges rate up to 60% and then 170ish up to 80% at the Electrify America chargers, and because of the 800V architecture even 150 kW charger would often peek at 170 kW up to 80% SOC and ramp down to 100kW from 80-90% SOC. Most DC stops were in the 10-18 minute range, compared to 50-72 kW or 45-60+ minutes in the Kona. Only downside was I that I literally had to rush to get my bathroom breaks :) Seriously the I5 is a huge upgrade. That said I got a call from my Genesis dealer other day, looks like my April ordered GV60 is in the process of being built and I might be entertaining trading the I5(which again I really like!). Going to test drive the performance model tonight and decide if its worth the extra money.
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  13. Jimct

    Jimct Active Member

    You piqued my interest so I checked out the Genesis website - nice looking car. You gain horsepower but it looks like you lose some range, back seat space and mileage efficiency. But it's all about personal choice, isn't it? For a side-by-side comparison see Edmunds:
    I love the I5 AND the Kona - so I have both - but in a couple years I'll be looking to see what's out there, the options are growing by the day - and it's exciting.
    Kirk likes this.
  14. Well I have the demo GV60 sitting my driveway right now. My initial impression is a little meh.

    The Good : It has more premium interior material than the I5 ultimate/limited, Alcantera headliner, door cards. Nappa leather seats with massage function and adjustable bolsters on the drivers seat. Infotainment GUI is pretty slick. Its got battery pre conditioning and it works well. Wicked fast acceleration compared to my AWD ultimate I5. Better Brembo style front brakes, active front dampeners. Autosteer is less jumpy. Party trick face recognition and finger print biometrics so you can use car without key. Bang and Olufsen stereo is better than my Bose system in I5

    The Bad: its a noticeably smaller interior cabin, especially the rear passenger leg and headroom. Smaller trunk space. I'm 6' 1" and I would find it tolerable for short distances in the GV60 back seat. The I5 feels down right limo like in the back seat and I'm very comfy back there. Smaller, panoramic roof. I love that I can mansplain in the I5 driver's seat. Interestingly the I5's synthetic leather really doesn't feel any less premium than the genuine "Nappa" leather. No HDA2, was really appreciating this on the US interstates with I5. More wind noise in the GV60 from the mirrors. I could not appreciate the active noise cancellation making much difference.

    Honestly despite the fancier interior/GUI, more power I sort of feel you are getting less car with shorter range, stiffer suspension(probably the 255/40/21 tires don't help) for $22K Canadian more(that includes the 5K federal rebate that the GV60 does not qualify for). I feel I would use the boost button a few times and then drive it like my usual little old man style. I wish my I5 had the battery preconditioning it would be perfect otherwise.
    electriceddy and KiwiME like this.
  15. JedK

    JedK New Member

    First let me thank everyone for responding.

    So this is the update:
    I went into the Hyundai dealer with the $6K over book value offer letter. The Used Car Manager came outside and looked at my 2019 Hyundai Kona (12K miles) and in Excellent condition. I was thinking: "this is going to be easy".

    And then...
    $25K offer. WTF!
    So he says: "Oh that letter is just from a marketing company we use, and we can't honor that"
    "We can't sell that car for more than $28K".

    I said to the guy: "Well that's a great way to gain my trust in your dealership". So then he said, "Maybe if I talk to my manager I can get it to $25.5", which is total BS. He knows what he can buy it for. Like he's doing me a big favor.

    That's nothing special, and I'm not in any rush to sell the car at $25K or $25.5K.

    If I do want to buy another car. Like maybe that 2023 Chevy Bolt EUV, and I don't do a private sale, I could probably get $25.5 right at Chevy. I don't need to first sell it to Hyundai.

    So for now I'm just keeping the Kona. It works great, and it has a brand new battery thanks to a recall.

    Thanks again,
    If anything changes, I'll post here again,
    Jed K
  16. This is what a 2019 Kona electric is selling for in these parts today, which equates to $34K -$38K USD. Just for kicks, why not throw it out there in the market- and see the true value;)
  17. I sold my Kona earlier in the spring for $47K to a used car dealer, who sold it 3 days later again, for $49K. I had shopped it around to the dealers at the time, but they were only offering mid thirties. So I thought I did well at the time. BUT I didn't think then I would have to wait so long for a replacement EV on order.

    Meanwhile, I am still getting unsolicited email offers from my original dealer as they obviously think I still own the car, even though I actually have a deposit in with them on an I5 pre-order. But their offers are still well below the market on the used cars sites. Here is the the latest that I got just last week.

    We would like to make a cash offer to buy your Hyundai Kona Electric.
    2019 Hyundai Kona Electric

    Instant Cash Offer For:
    $38,129 - $42,344
    Note: market conditions are always changing, your vehicle may be worth more. Click the link below to book an appraisal.

    Get an appraisal now [​IMG]
  18. And yet Hyundai/KIA is baffled why North Americans detest their dealerships.
  19. Ugh, I am sorry to hear your dealer slipped you the typical bait and switch. If your still considering selling you car hit a couple more dealers and solicit some more offers. When I traded my Kona EV on my Ioniq 5 I got very favorable terms from my selling dealer but for fun I got a couple more quotes and the numbers varied greatly.

    I recently asked the only Genesis dealer in my city to give me a trade quote on I5 and basically asked him to make me an offer over high end trade value of Canadian black book. Having dealt with this particular sales manager previously I am not optimistic which is actually really quite fine because I am really looking for a good reason not to sell the Ioniq 5 :)
    electriceddy likes this.
  20. Well I guess I got a really good reason to do otherwise yesterday as my Genesis dealer end up offering me an appreciable amount over what I paid as new retail for my 6 month old ultimate Ionic 5 with just under 18,000 km. :)

    My better half doing her best Vanna White pose with the new GV60 performance in Sao Paulo Lime exterior and white nappa leather interior. Its certainly a "in your face colour" that you have no problem finding in a crowded parking lot, lol.

    I hope folks don't mind me posting the occasional non Kona related stuff. Alas This forum feels more like home than any of the other sub forums :)

    Last edited: Oct 5, 2022 at 10:46 AM
  21. danrjones

    danrjones Active Member

    I sold my 2018 Leaf to Carvana for more than that a month or so back. I sold it to them for ~26k. And your vehicle has GOT to be worth more than a 2018 Leaf. Maybe I missed where you are located, but try a few of the online places (if you can). I suspect prices may have slipped a bit since I sold my Leaf, but isn't the Kona EV superior to a 2018 Leaf in about every way? Bigger battery, COOLED battery, faster charging... and I had an SV, so you might have had more interior options as well.
  22. Awesome looking car, does this one have the Nav system DC Charging battery preconditioning offered in the 23 Ionic 5 and 6 models? That could be real handy in winter months.
    BTW...update required your info below Avatar;)
    apu likes this.
  23. Yes it has the NAV connected battery pre conditioning. That was a big deal for me. My experience in severe cold was tripled winter DC charge times with my Kona without pre conditioning and I was not looking forward to repeating that in the Ionic 5. As you probably know I5s built before June of this year may or may not get the software update here in North America. Like geez, this feature has been only available in Teslas for around 8 years!

    Its funny it feels like I have come full circle. The GV60 feels an awful alot like a bigger, fancier version of the Kona EV.
    Last edited: Oct 5, 2022 at 11:43 AM
    electriceddy likes this.

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