I'm SERIOUSLY considering to trading in my car for a 2020 Hyundai Veloster N. Should I do it???!

mvela · Aug 18, 2019

I have a rule that I go by. If you can not pay a car off in 4 years or less then it is too expensive. Same as a house, if you can’t pay it off in 15 years or less it’s too expensive. You end up paying too much in interest the longer you pay on it. Plus you want to leave yourself wiggle room in your budget for unexpected emergencies. Plus most people would be ready for a new car after 5 years. By the time you finish paying it off and probably paying close to double what it worth, you might get less than 5 grand for it. Just something to think about

GermanCivic · Aug 18, 2019

I think the Hyundai Veloster N is an amazing car, but anyhow I would prefer to drive your actual Hatch LX.
But if you're not feeling good with the CVT then you should probably not keep the car.

And I personally only buy cars which I can pay in cash. But I thinks it's way more common in CAN and USA to finance cars. I don't like paying all the additional money for the financing companies.

Boni · Aug 18, 2019

If it was me I would wait for the rebates to come/used or cpo because Hyundais have terrible resale value. Other than that it is an awesome car.

ddr330 · Aug 18, 2019

GermanCivic said:
And I personally only buy cars which I can pay in cash. But I thinks it's way more common in CAN and USA to finance cars. I don't like paying all the additional money for the financing companies.

We Americans are notoriously bad at saving. I agree with you, and bought my 3 year old hatch with cash this year. I don't want to pay fees and interest on a depreciating asset like a car; loans make sense to leverage for appreciating assets, like a home mortgage.

OP talking about an 8 year loan on a brand-new car that will lose 15+% value as soon as he drives off the lot sounds crazy to me.

123sillyboy123 · Aug 18, 2019

I wouldnt do it.. as the N never grow in me.
Car Looks kind of funny. But it is personally.

But finance a car for 8 years? Thats a long term for car

WoLF2001 · Aug 19, 2019

DO YOU bro, ALOT....

Brakes88 · Aug 19, 2019

I drove a veloster N it's a great little car. But I noticed a couple things with the car that turn me off of it.
1 GIANT blind spot.
2 the driver door position was very awkward to get in and out of. I'm 5'10" 160lbs. I had a loaner veloster for several days and neither issue got more argeeable with the time I had.

I would ask for an extended test drive of the N or next down and see how you feel after that.

Cheers! Hope you're happy with your final choice.

Cornercarver · Aug 19, 2019

I Have the SI, which has a beautiful 6 speed, not a CVT (ugh), and I love it...but was tempted enough to test drive the Veloster N because 275 hp, custom independent settings for suspension, engine and steering, and way better sounding engine stock.

But nice as it was, I couldn't get past how much more natural the SI feels to drive, the better back seats and storage in the SI, four real doors instead of 3, the better visibility of the SI, the reliability so far ( 38,000 + miles), the bette gas mileage, and the higher payment and insurance on the N.

BTW, I was offered the car with performance package for just under $ 30 K. For your situation, the N would be a huge upgrade. For me with the SI, not quite as much Some things better, some worse, and more money.

I cringe when I read the words ' learn to drive a manual...' But if you have a good instructor, pay attention, relax and don't force it, you may be able to not ruin your clutch / engine / shift linkage. Actually, the Honda manual is world famous for being easy to use, and a really good one to learn on.
Not saying the one in the Hyundai Veloster N is not decent, just not as user friendly as most Honda manuals.

But YOLO, so go for it.

Bottom line: you could do a lot worse. Even reviews comparing the Veloster N with the Civic Type R
had the Type R only about 2 seconds faster on a track, and the reviewers pointed out they had just as much fun driving the N.

If back seat leg room, and that last bit of storage is not crucial, and you can swing it financially, yeah, buy it and have a blast.

jtrader · Aug 19, 2019

Best advice: Wait til your lease is over in a few years, then buy a used one. They will be cheaper. Perhaps much cheaper....These Hyundai's simply don't hold their value. DO NOT, I repeat DO NOT spend 48k on a car for 8 years when you can get one in 2-3 years for ~15k.

LiveLaughRide84 · Aug 19, 2019

RIC3HUNT3R said:
So at work, one day I decided that I had enough with my civic hatch LX. The car is great and looks great, but I'm not happy driving it anymore. The power is there but it's to common now.

I've been thinking about a Golf GTI Rabbit edition, or a Veloster N. As the title says I'm leaning for the Veloster, it's what I'm looking for priced great for what it is and I'm not losing any $$$ from trading in my civic.

I was thinking about tuning up my civic but it's the dammed CVT SO I CANT DO MUCH FOR POWER... the Veloster N has the perfect amount of power sounds amazing from factory and is I'm my budget too.

The civic: 13,000 KMS

no problem so far besides a small false read at 2000kms.

Paying $214 CAD a month on 48 months (37 left) @.99% LEASED

insurance is $300 CAD a month, got a G2 1 1/2 years clean record. Going for G full in mid September.

Buyout is $10,840 at Sept 2022.

The Veloster N: 2KMS (29KMS after test drive)

Brand new...

Would pay $231 CAD bi-weekly for 8 years.

Insurance idk yet, that's what is holding me back from just signing it, would love input about how much would be fair.

And I'll be financing the Veloster N, meaning it would ACTUALLY be MY car....

Why I want it?

It's more enjoyable to ride, they are amazing value and it's super easy to learn to drive stick on them, which is a huge plus.

It's not the end of the world if I dont get it, but life would actually having a meaning to do the same thing everyday and I'll actually enjoy it.

Let me know what you think, if I should get it or just stick with the civic for a few more years... let me know, thx.

P.S.

Here is a pic of the car

I like the N also.

jason510 · Aug 20, 2019

ONEPNT5.Si said:
I may be the odd man out here, but I personally think that if you have to go with an 8 year term when you finance a vehicle to keep the payments low enough to where you can afford them, then the vehicle is too expensive for you to be looking at.

Especially if you're paying $231 bi-weekly, vs $214 per month. You're going to be paying more than twice the amount every month, for twice the total amount of time.

This was my first impression when I saw "bi-weekly"

Bosco72 · Aug 20, 2019

I would waite the mid engine one is coming out.

ebhaynz · Aug 23, 2019

I would urge anyone considering paying a car loan for 8 years to NOT go through with it. Cars are way too expensive, dealers are stealers, a patient person can buy a much cheaper car that's decent enough to get them around nicely. There's so much more you can do with your money than pay 40-50k for a small korean car that can't hold a candle to a Honda Civic long term.

JT Si · Aug 23, 2019

At the quoted 2.49% interest rate, the interest over the 8 year term is about $4,600. But more alarming to me is that the price of the car is $44,000. That seems frankly outrageous and probably includes some dealer markup and/or thousands in unnecessary accessories and add-ons.

Until you learn to car shop to get a good deal (a good deal is defined as a good price for the car, not good monthly payments), don't buy anything.

The price pictured here should be the starting price for negotiation and should only ever go down.

boosted180sx · Aug 23, 2019

RIC3HUNT3R said:
Would pay $231 CAD bi-weekly for 8 years.

i like the N but a 8 year term?

RUN.

I'm SERIOUSLY considering to trading in my car for a 2020 Hyundai Veloster N. Should I do it???!

mvela

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GermanCivic

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Boni

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ddr330

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123sillyboy123

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WoLF2001

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Brakes88

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Cornercarver

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jtrader

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LiveLaughRide84

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jason510

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Bosco72

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ebhaynz

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JT Si

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boosted180sx

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