Wanted - any Hyundai dealer US - Nationwide that sells Ioniq 5 without markups

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Most of the dealers in Nevada are Lithia Motors dealers. With ALL of them charging $10-20K markup for a Limited it smells price fixing and Sherman Act violations. They have been reported to Nevada Attorney General and Federal Trade Commission in formal complaints.
I will add that a non-Lithia dealer in Las Vegas area stated they will only match an offer from a local Lithia-based dealer but otherwise will not come down from their $10K markup. I offered $5K over to test this but they rejected and again stated it must be a written offer from one of the Las Vegas Hyundai dealers. They stated the local area dealers agreed to it.
Its not over.

EDIT-this has also been reported to US DOJ.
 
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DLinLV said:
Most of the dealers in Nevada are Lithia Motors dealers. With ALL of them charging $10-20K markup for a Limited it smells price fixing and Sherman Act violations. They have been reported to Nevada Attorney General and Federal Trade Commission in formal complaints.
I will add that a non-Lithia dealer in Las Vegas area stated they will only match an offer from a local Lithia-based dealer but otherwise will not come down from their $10K markup. I offered $5K over to test this but they rejected and again stated it must be a written offer from one of the Las Vegas Hyundai dealers. They stated the local area dealers agreed to it.
Its not over.

EDIT-this has also been reported to US DOJ.
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At that price, wouldn't it be cheaper to drive the 3.5 hrs over to LA and buy one in CA? I know there ARE CA dealers as MSRP, espcially if you are willing to buy one of the orders before it arrives and gets on the lot. I know Palm Springs is doing MSRP, and even Palmdale suggested they are willing to do MSRP as long as its an order rather than on the lot.
 
Dan, yes we actually have ordered a RWD Limited in Colorado. We know the dealer and have bought 2 cars through their dealer network in the past (we used to live in Denver area). I had a deposit on one in San Diego for MSRP but cancelled it to go with Colorado dealer, also at MSRP. We were hoping to get one sooner rather than later, but its not happening so we are content to order and get it some time later this year (we hope). We had an ID4 on order but never got locked, so who knows when that would have been delivered.

As for the dealer situation here in Vegas, we are concerned about the service departments if the sales side is so anti-consumer. Im all for making a buck but the 20-45% markups on a car of this nature is an egregious rip-off. But hey, I'm old and my opinion may not mean much for the youngers willing to pay the extra 10K, so cool for them. But, when its my money, I get the only say in the transaction and I say Im not going to participate. Easy enough. But, I still dont think it right for dealers taking advantage of anyone like they are doing here with the I5.

BTW, Kia dealer called and has EV6s this week on the lot here. And, yes, same ole....$10K markup.
 
DLinLV said:
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
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You don't need to have them send anything to you when the majority of dealers put the markup on the website. Go to the finance section of the car and look at detailed pricing. YOu will see the adjustments on there.
 
I'm out. I stopped by Kia after work last night and bought a new GT-Line in Yacht Blue. Basically $3000.00 in dealer add ons and markup of 1500.00. Told them my bottom line and maybe could have paid less, but tired of the game with Hyundai dealers. $59k with RWD and registration and taxes and dealer adds on MSRP of $53k.
Hope you all find the one, and a dealer who will treat you well. I found good people at crappy dealers, and good dealers with no inventory who had no markups.
A shout out to Frank Hyundai, Palm Springs Hyundai and MacDonald Hyundai (Colorado). They are above board and no markups. But, because of this they have limited inventory.
 
Add ons and markup came to $2145.00. The rest was taxes and registration/title fees.
Their original ask was 10k markup plus add ons. The add ons were $995 so total markup came to $1150.00
 
Forgot, their original add ons was 1495.00, but 500.00 veterans discount took it down to 995.00.
They don't like taking discounts on msrp so take it off add ons I was told.
 
If everyone refused ADMs, problem would be solved, no more ADMs. So maybe, instead of just criticizing the dealers, you guys should be going after the people that pay the ADMs?
 
R P said:
If everyone refused ADMs, problem would be solved, no more ADMs.
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What if the dealer markup is $1? Where do you draw the line between an acceptable markup and an unacceptable markup? How do you tell someone else how much markup they should accept?
 
insightman said:
What if the dealer markup is $1? Where do you draw the line between an acceptable markup and an unacceptable markup? How do you tell someone else how much markup they should accept?
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Geez, you must be loads of fun at parties.
So many $hit posts are like arguing with the World's dimmest lawyer.
 
insightman said:
What if the dealer markup is $1? Where do you draw the line between an acceptable markup and an unacceptable markup? How do you tell someone else how much markup they should accept?
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For me, it’s simple. No markup is acceptable. The worst part is they have the balls to charge dealer fees & force dealer in$talled garbage. Where does the insanity stop?
 
Ride_Da_Lightning said:
For me, it’s simple. No markup is acceptable. The worst part is they have the balls to charge dealer fees & force dealer in$talled garbage. Where does the insanity stop?
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Don't underestimate the power of the auto dealers' lobby. They've successfully "convinced" ($$$) the Michigan legislature to deny Tesla the right to sell cars in our state. The Ioniq 5 insanity will continue as long as supply trails demand.
 
I just checked web sites for 3 of the 4 Hyundai dealers here in Las Vegas and they all have the same vehicles on the lot today they had 2 to 3 weeks ago when I visited them. So, not much demand here on Vegas when the markup is $10K. I suppose they think when every other dealer sells out they will have leverage.

Or, guys like me will go out of state to make a deal, or buy something else. A car is a commodity, not an investment. I was tired of the effort to find a vehicle I wanted and try to negotiate a fair deal. Interesting that all of the dealers local to me stood pat on the high markup, no budge. Whereas out of state dealers would move some.
Interesting time to be buying a car.
 
If you are in California file a complaint with the Attorney General.

https://oag.ca.gov/contact/consumer-complaint-against-business-or-company

It is a violation of California law to advertise a price for a vehicle and then attempt to sell the vehicle for more than the advertised price. The dealer website price is an advertised price. Get proof of the violation. Take a screenshot of the online price showing MSRP. Take a photo of the in-person of the marked-up price. I started to purchase the car online and the web order at checkout added $5k. That is a violation.

Got a letter back from the AG stating that they will take action after they get more of the complaints.

What I find rich is that all of these dealers got multi-million dollar PPP loans (that most if not all didn't have to pay back) to save them and now the thanks the taxpayers get are getting screwed over.
 
Ride_Da_Lightning said:
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/
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I emailed with them online today asking about markups. No anxwer yet so I suspect they are trying to hide what you stated. I told them I would go out of state for MSRP if need be we shall see .
 
I continue to get calls from Hyundai in Palmdale... so it really makes me wonder if they are having trouble getting that dealer markup. If they were getting the markup, why keep calling me?
 
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