Newer To Us Compact SUV

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My wife and I have an appointment to look at a 2016 Hyundai Tucson Limited 1.6T AWD on Monday of next week.

Vehicle is a 25k mile off lease 1 owner. Excellent Carfax with services performed at the dealer. Fully loaded with safety tech as well as leather, navigation, etc.

I've done my homework on the 1.6T and the 7 speed DCT and I'm comfortable with the mechanics of the vehicle as well as the maintenance.

Anyone have one of these? Likes? dislikes? Things to look out for with these units?

This would replace our 10' Escape. I think I can buy this one or a similar one for $19K OTD.

Does anyone know the details of transferable factory warranties on off lease Hyundai's? The particular unit is at a Ford dealer, but is an off lease vehicle.

Thanks,
 
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It's my understanding the power train warranty reverts to a 5 year/60,000-for the second owner. I am guessing the lease company was the first owner, thus you are the second.

Depending on when it was was leased you could have some 3year/36,000 mile bumper to bumper left.

I have a 2017 Santa Fe Limited XL-great so far. My Son's Sonata was one of those with the motors that had metal in it. Because he received a letter-and took it to the dealer (the dealer said it was OK at that point), when the motor self destructed-out of warranty (at around 135,000 miles), Hyundai stepped up and replaced the motor-no charge at put him in a full size rental for two weeks.

That can't be said of some of the diesel motor fiasco of certain other manufacturers that shall remain nameless.
 
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I second the suggestion to look at new. Several friends of mine have gotten excellent deals on brand new cars lately and many are offering pretty attractive financing along with the discounts. We got 0.9% on the wife's new Subaru.
 
Brand new optioned the way we want is a little too expensive even with rebates.

We are looking to stay $20k or under and pay in cash. I hate having Payments on depreciating assets so I'm not looking to finance.


Looking at used 16-18 models with less than ~30k miles.

My wife likes the Tucson and the Cherokee. I think the Hyundai is a better vehicle.
 
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Originally Posted by donnyj08

We are looking to stay $20k or under and pay in cash. I hate having Payments on depreciating assets so I'm not looking to finance.


You are just being logical again.
 
It sounds like you have done your homework. The 2016 model year with the DCT does have the most complaints for transmission problems. Take that for what its worth.
 
Originally Posted by gregk24
It sounds like you have done your homework. The 2016 model year with the DCT does have the most complaints for transmission problems. Take that for what its worth.



Thanks for the Insight, I'll be sure to be diligent in testing it out on the test drive.


I know Hyundai changed the fluid spec to a 70w DCT fluid early as well.

If purchased I plan to service the transaxle, rear diff, transfer case, and likely change the oil to a 5w40 as that's acceptable per the manual. That is if I can find an SN+ rated 5w40 as LSPI precaution is probably wise on a 1.6T-GDI

I found the manual PDF online and familiarized myself.


[Linked Image]
 
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Originally Posted by donnyj08
Brand new optioned the way we want is a little too expensive even with rebates.

We are looking to stay $20k or under and pay in cash. I hate having Payments on depreciating assets so I'm not looking to finance.


Looking at used 16-18 models with less than ~30k miles.

My wife likes the Tucson and the Cherokee. I think the Hyundai is a better vehicle.


I never understood this. Let's say you do just that, and get a vehicle for $20 OTD, cash, and someone T-bones it 1 year later. You are not going to get near what you paid for it, and you might as well have probably burned $5-7K and watched the flames. If you financed the same vehicle at low APR, and put $0 down, and got T-boned and it totalled out, GAP would cover you, and your payments are all you'd have lost.

Basically, for the first 3-4 years you own it, you are in a losing position if someone hits and totals your vehicle, if you pay cash. The way people drive, I'm all about paying a couple grand in interest over 5-6 years to make it the bank's loss if something happens <year 4.
 
Originally Posted by Ws6
Originally Posted by donnyj08
Brand new optioned the way we want is a little too expensive even with rebates.

We are looking to stay $20k or under and pay in cash. I hate having Payments on depreciating assets so I'm not looking to finance.


Looking at used 16-18 models with less than ~30k miles.

My wife likes the Tucson and the Cherokee. I think the Hyundai is a better vehicle.


I never understood this. Let's say you do just that, and get a vehicle for $20 OTD, cash, and someone T-bones it 1 year later. You are not going to get near what you paid for it, and you might as well have probably burned $5-7K and watched the flames. If you financed the same vehicle at low APR, and put $0 down, and got T-boned and it totalled out, GAP would cover you, and your payments are all you'd have lost.

Basically, for the first 3-4 years you own it, you are in a losing position if someone hits and totals your vehicle, if you pay cash. The way people drive, I'm all about paying a couple grand in interest over 5-6 years to make it the bank's loss if something happens div>




Based on your logic it's a wash. The average car payment in America is something like $500 a month x 12 months = $6,000. I carry full coverage, so I'm the case you described I would buy a similar $16k model with similar miles and Condition as when the accident occurred. In 1 year it would be a 16' with 44k miles or so. I would replace it with another 16' with 40-50k miles.

I have a personal rule that the value of all my vehicles never exceed 20% of our annual income, as they depreciate and work against your net worth. This process allows me to not make payments on things that are going the wrong way. I prefer to only finance Income producing assets that also appreciate (real estate). Everything else I own 100% in cash or I don't buy it.

We believe this is the best route for us. I realize it's highly fiscally conservative and many won't agree, and that's ok.
 
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Originally Posted by Ws6
Originally Posted by donnyj08
Brand new optioned the way we want is a little too expensive even with rebates.

We are looking to stay $20k or under and pay in cash. I hate having Payments on depreciating assets so I'm not looking to finance.


Looking at used 16-18 models with less than ~30k miles.

My wife likes the Tucson and the Cherokee. I think the Hyundai is a better vehicle.


I never understood this. Let's say you do just that, and get a vehicle for $20 OTD, cash, and someone T-bones it 1 year later. You are not going to get near what you paid for it, and you might as well have probably burned $5-7K and watched the flames. If you financed the same vehicle at low APR, and put $0 down, and got T-boned and it totalled out, GAP would cover you, and your payments are all you'd have lost.

Basically, for the first 3-4 years you own it, you are in a losing position if someone hits and totals your vehicle, if you pay cash. The way people drive, I'm all about paying a couple grand in interest over 5-6 years to make it the bank's loss if something happens div>

But that assumes some high probability that it will happen. In my case, the wife and I have had 5 or 6 vehicles in 20 years. No accidents. Whatever we would have paid to gap insurance would have been lost money.
 
Originally Posted by supton
Originally Posted by Ws6
Originally Posted by donnyj08
Brand new optioned the way we want is a little too expensive even with rebates.

We are looking to stay $20k or under and pay in cash. I hate having Payments on depreciating assets so I'm not looking to finance.


Looking at used 16-18 models with less than ~30k miles.

My wife likes the Tucson and the Cherokee. I think the Hyundai is a better vehicle.


I never understood this. Let's say you do just that, and get a vehicle for $20 OTD, cash, and someone T-bones it 1 year later. You are not going to get near what you paid for it, and you might as well have probably burned $5-7K and watched the flames. If you financed the same vehicle at low APR, and put $0 down, and got T-boned and it totalled out, GAP would cover you, and your payments are all you'd have lost.

Basically, for the first 3-4 years you own it, you are in a losing position if someone hits and totals your vehicle, if you pay cash. The way people drive, I'm all about paying a couple grand in interest over 5-6 years to make it the bank's loss if something happens div>

But that assumes some high probability that it will happen. In my case, the wife and I have had 5 or 6 vehicles in 20 years. No accidents. Whatever we would have paid to gap insurance would have been lost money.

I've been hit by drunks, foreigners who cant drive by american laws, out of control suv drivers with bald tires on ice, people who failed to stop for traffic, you name it. But...ymmv.
 
Originally Posted by donnyj08
Originally Posted by Ws6
Originally Posted by donnyj08
Brand new optioned the way we want is a little too expensive even with rebates.

We are looking to stay $20k or under and pay in cash. I hate having Payments on depreciating assets so I'm not looking to finance.


Looking at used 16-18 models with less than ~30k miles.

My wife likes the Tucson and the Cherokee. I think the Hyundai is a better vehicle.


I never understood this. Let's say you do just that, and get a vehicle for $20 OTD, cash, and someone T-bones it 1 year later. You are not going to get near what you paid for it, and you might as well have probably burned $5-7K and watched the flames. If you financed the same vehicle at low APR, and put $0 down, and got T-boned and it totalled out, GAP would cover you, and your payments are all you'd have lost.

Basically, for the first 3-4 years you own it, you are in a losing position if someone hits and totals your vehicle, if you pay cash. The way people drive, I'm all about paying a couple grand in interest over 5-6 years to make it the bank's loss if something happens div>




Based on your logic it's a wash. The average car payment in America is something like $500 a month x 12 months = $6,000. I carry full coverage, so I'm the case you described I would buy a similar $16k model with similar miles and Condition as when the accident occurred. In 1 year it would be a 16' with 44k miles or so. I would replace it with another 16' with 40-50k miles.

I have a personal rule that the value of all my vehicles never exceed 20% of our annual income, as they depreciate and work against your net worth. This process allows me to not make payments on things that are going the wrong way. I prefer to only finance Income producing assets that also appreciate (real estate). Everything else I own 100% in cash or I don't buy it.

We believe this is the best route for us. I realize it's highly fiscally conservative and many won't agree, and that's ok.




I got nothing to say. You're being financially smart. I skew things a bit, my vehicle costing about 30% of my annual income, because I spend 25k miles per year in it, so it matters more to me than some others how quality that time is.
 
30% is actually very reasonable. I don't claim that my process is the only one that works.

I know several people who leverage fairly significantly and do well with it. I think the main thing is that people actually budget and pay attention to their spending habits.

I'd love a CX-5 myself, however my wife just doesn't like the styling for some reason. I think they are beautiful SUVs. If she liked them a used 17' would be at the top of the list.
 
Originally Posted by donnyj08
30% is actually very reasonable. I don't claim that my process is the only one that works.

I know several people who leverage fairly significantly and do well with it. I think the main thing is that people actually budget and pay attention to their spending habits.

I'd love a CX-5 myself, however my wife just doesn't like the styling for some reason. I think they are beautiful SUVs. If she liked them a used 17' would be at the top of the list.


Styling of it is okay with me. I mainly bought it for the driving dynamics, efficiency, and how quiet the interior is. Styling "was what it was". Thank-you!
 
Originally Posted by Ws6
Originally Posted by donnyj08
Brand new optioned the way we want is a little too expensive even with rebates.

We are looking to stay $20k or under and pay in cash. I hate having Payments on depreciating assets so I'm not looking to finance.


Looking at used 16-18 models with less than ~30k miles.

My wife likes the Tucson and the Cherokee. I think the Hyundai is a better vehicle.


I never understood this. Let's say you do just that, and get a vehicle for $20 OTD, cash, and someone T-bones it 1 year later. You are not going to get near what you paid for it, and you might as well have probably burned $5-7K and watched the flames. If you financed the same vehicle at low APR, and put $0 down, and got T-boned and it totalled out, GAP would cover you, and your payments are all you'd have lost.

Basically, for the first 3-4 years you own it, you are in a losing position if someone hits and totals your vehicle, if you pay cash. The way people drive, I'm all about paying a couple grand in interest over 5-6 years to make it the bank's loss if something happens div>


While I agree with your post-most don't take the GAP insurance and just assume the risk of loss should they be in an accident within the first few months of vehicle ownership. There are rare exceptions. I bought a new Suzuki Sedan-it was one of those "one only" AD (newspaper) cars. My son totaled it out within the first 12 months. Since the price I paid was so low, the insurance company gave me EXACTLY what I paid for it.

However-I think your "three to four" years assessment is not accurate. Trucks and some CUVs/SUV values are outright crazy.. You do have the option with some insurance companies of declining their settlement-and telling them to find a like vehicle to what your loss is.
 
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Originally Posted by CKN
Originally Posted by Ws6
Originally Posted by donnyj08
Brand new optioned the way we want is a little too expensive even with rebates.

We are looking to stay $20k or under and pay in cash. I hate having Payments on depreciating assets so I'm not looking to finance.


Looking at used 16-18 models with less than ~30k miles.

My wife likes the Tucson and the Cherokee. I think the Hyundai is a better vehicle.


I never understood this. Let's say you do just that, and get a vehicle for $20 OTD, cash, and someone T-bones it 1 year later. You are not going to get near what you paid for it, and you might as well have probably burned $5-7K and watched the flames. If you financed the same vehicle at low APR, and put $0 down, and got T-boned and it totalled out, GAP would cover you, and your payments are all you'd have lost.

Basically, for the first 3-4 years you own it, you are in a losing position if someone hits and totals your vehicle, if you pay cash. The way people drive, I'm all about paying a couple grand in interest over 5-6 years to make it the bank's loss if something happens div>


While I agree with your post-most don't take the GAP insurance and just assume the risk of loss should they be in an accident within the first few months of vehicle ownership. There are rare exceptions. I bought a new Suzuki Sedan-it was one of those "one only" AD (newspaper) cars. My son totaled it out within the first 12 months. Since the price I paid was so low, the insurance company gave me EXACTLY what I paid for it.

However-I think your "three to four" years assessment is not accurate. Trucks and some CUVs/SUV values are outright crazy.. You do have the option with some insurance companies of declining their settlement-and telling them to find a like vehicle to what your loss is.

I always buy GAP, and I actually drive my vehicles, so it devalues them rapidly. If you buy used, at a good deal, and barely drive, then GAP may not make much sense...until you get a vehicle that goes Explorer on you and the value falls 25% overnight. So...always get GAP.
 
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