The problem is that dealers can sell cars for any price they want. But, I believe the car manufacturers should set a fixed price for their products and put the commissioned dealers out of business, like almost every other retailer has done. It is not fair to take advantage of inexperienced buyers.

Come on people. If you don't like the price walk out, it's that easy. Last year I made a good offer on a Ford in Mt Dora. They accepted-the offer and when the papers came back they had a $595.00 dealer prep fee. I walked and whent down the road, bought another car, by the time I got home there was a call from the original dealership that the would take off the dealer prep fee. I called them and said too bad I bought somewhere else. All you have to do is walk away. Remember you are in the drivers seat don't let them bully you. Walk out.

Ahhh......

:faint: Sometimes life is not fair!

I agree, but this is an unfair practice that can be corrected, and should be.

I have retired after 30 years in the retail and wholesale auction automobile business.

I have found that most of the people that are this far upside down in their cars it is caused over several transactions of being up side down in the cars that they traded in.

Lets look at the information you supplied.

1. We ended up over paying for a 2014 Sonata. 3 years later, we're still $9k upside down on it. Average wholesale on a 2014 Sonata GLS (the mid range Sonata) is $9,000. So after making payments for 3 years you still owe approx. $18,000 on this car.

And you are blaming the dealer for this? How far were you upside down on the car you traded in on the 2014 Sonata.

2. We bought another car from them a year later, a 2015 Accent, and we're still $5k upside down on that one.
You also own a 2015 Accent the average wholesale on 2015 Accent is approx $8,850. So from what you said you have paid for 2 years and owe
just under $14,000 on this car.

Again I can't help but wonder how far upside down you were on the car that you traded in.

As you keep trading and are is this situation the reverse equity position only gets worse.

The average wholesale figures that I am quoting are from the data supplied by Manheim Auto Auction dealers website. Not knowing the exact model and mileage I am only guessing at the numbers.

Manheim is the largest auto auction chain in the world.

I have had bad experiences since I moved to Florida. I could not find one dealer who would give me a similar price as my NJ dealer, primarily due to the dealer fee. That is until I spoke with Carolyn Davis at Jenkins Hyundai in Ocala. Carolyn was able to lease me a 2018 Hyundai Sonata at the same price I had been paying using a NJ dealer, which is all I was asking all the other Hyundai dealerships in the area, including Jenkins in Leesburg, to do. If one can do it and still make a reasonable profit, why can’t all the other dealers do it. California has a law limiting dealer fee charges to $85.00. You can sign a petition to ask the Florida legislature to limit auto dealer fees by going to “eliminate Florida auto dealer fees”.

Out the door price is just that!
 

I speak from 30 + years in automobile sales as well as management and ownership. I just helped a wonderful woman here in the villages buy a new Mercedes. her deal was almost 4 thousand over what I negotiated, I knew from doing thousands of deals they would be high grossing her so I decided to handle the deal,and have some fun.
For the Benz buyers out there stay away from the MB south store just a word of caution.
If your buying a new car do your research on Exactly what you want with what options then shop online. Do it without putting your contact information unless you want to get a bunch of sales calls. All the pricing is available from consumer reports,Edmunds, Kelly Blue Book. And if your quoted an out the door price and it changes and you still buy, Shame on you.

i get a out the door price that increases by any amount i walk. dishonest dealer and may have the same thing trying to get any service work done

We are taking this much too seriously. 1. Do your homework on the internet and know exactly what you want and what you should pay. 2. Turn this into entertainment by hitting several dealers, test driving a bunch of cars, know they are trying to overcharge you and will if you let them, and go in being prepared to walk. 3. Consider buying up north, I did.
Where else can you get this much entertainment for free. As a side note, it sometimes is the dealership making the salesmen act this way.
A good deal is when both parties are happy. Walk if you are not.