Dealers go wild once they get their fingers on a brand new mannequin, particularly if it’s a restricted version or a efficiency mannequin. Unfortunately this comes on the expense of the shopper who has to take care of issues like crappy customer support — credit score checks earlier than a take a look at drive as an illustration — and worst of all, markups. Hyundai dealerships are already as much as no good with the brand new Ioniq 5 N. Some have began receiving Ioniq 5 N allocations they usually’re already beginning to to mark them up. One potential purchaser has discovered simply how ugly issues can get if you problem a seller on a markup.
We first noticed the markup on the Hyundai Elantra N homeowners group on Facebook. An image confirmed that Ontario Hyundai in Ontario, California has a 2025 Ioniq 5 N with MSRP of $67,685. But with the sellers $20,000 markup, they’re asking a watch watering $87,685 for this efficiency hatch. Wanting extra data, I reached out to the one who posted the picture and was knowledgeable that it was really taken by a man who had gone to the seller to attempt to purchase the automotive. He promptly put me in contact with this particular person so I may get extra data on the state of affairs.
David De Rego — also referred to as @Qball1754 — is a well-known automotive social media influencer in Hyundai circles. He’s a member of the SoCal N Club and is standard sufficient that he has some contacts at Hyundai company. It’s how he came upon in regards to the allocation of the Ioniq 5 N at this particular seller earlier than anybody else — there isn’t even a construct and worth software up for it but on Hyundai’s web site. He informed me that after discovering out in regards to the allocation from Hyundai, he headed straight to the seller to see if he may work one thing out. “After I had been told about the allocation, I wanted to show up at Ontario first thing in the morning and work out a deal,” he mentioned.
David informed me he wished to commerce in his modified Veloster N for the Ioniq 5 N. But issues didn’t go as deliberate from the second he received to the seller. David says the salespeople and managers have been weirdly defensive about him exhibiting up for a automotive that they’d simply obtained. “When I was first greeted by the salesman and I mentioned the Ioniq 5 N, they became very defensive and wanted to know who told me about the car and why I just showed up for it,” he mentioned. He then says he defined to them his involvement with Hyundai and the N model. Things went a bit smoother from there as they went to work on numbers for the Ioniq 5 N and his commerce. But that didn’t final for lengthy.
David says that the Ioniq 5 N was then introduced round for him to examine however he couldn’t take a look at drive it. He was knowledgeable they’d solely permit him to drive it after his credit score was run and numbers have been agreed upon. He then gave them a ballpark determine on the place he wished to be on his commerce and what he hoped to pay for the Ioniq and was met with what he describes as angle. “They told me this is an exotic car so everyone wants it,” David says. David and the seller did agree on $23,000 for the Veloster N. At this level he says they instantly tried to run his credit score however he declined since they have been nonetheless attempting to determine issues out with the Ioniq 5 N; he was informed the automotive wasn’t of their system but. This is a wierd factor to say contemplating that, in response to the markup sticker, the automotive already had a inventory quantity.
At this level, roadblocks to the deal began to seem as David describes. They informed him there’s no lease obtainable for the Ioniq 5 N and that it gained’t qualify for the $7,500 EV tax credit score. Then got here the numbers for the Ioniq 5 N: $20,000 down and $1,500 a month. For some purpose, David says this was once they turned extra inquisitive about his affiliation with Hyundai, N and the SoCal N Club. He says issues then received even worse.
All of a sudden, the trade-in quantity they’d agreed upon dropped to $15,000. He additionally says his fiancée overheard the gross sales employees saying how they have been going to attempt to power him into financing the automotive. After a bit extra forwards and backwards on numbers, David tried to get them to take away the markup.
This actually pissed them off. Speaking as if he was attempting to leverage his relationship with Hyundai on the deal, he mentioned he was informed that they didn’t “care about my affiliation with Hyundai or the N brand or who runs it in the U.S., corporate decides the markup.” The rant continued with David being informed that the markup couldn’t be eliminated, nobody at Hyundai or N would have a say on it and that in the event that they wished to they might cost an excellent increased markup “like the rest of the dealerships.”
At this level David says he was executed and he mentioned he was going to stroll, however not earlier than the supervisor got here again with a proposal for his commerce in that was $3,000 increased than earlier than. David wasn’t although. He informed him he was executed and that he was going to go to a different native dealership Hyundai informed him about that has two Ioniq 5 N allocations. But Ontario Hyundai endured. He says as he and his fiancée received to their automotive the salesperson was nonetheless attempting to speak numbers on a commerce in worth for the Veloster N. He mentioned they appeared extra targeted on him buying and selling the automotive than the rest at this level.
David says the expertise sucked. “I’ve never felt that disrespected by a dealership before. And to hear them talk about screwing me over just to make a sale, I couldn’t believe it.” He’s now going to attempt his luck on the aforementioned seller that’s getting two allocations. He gained’t point out his Veloster N commerce on this time round although. He mentioned he’s going to go away the automotive at house and see how issues play out if he doesn’t point out it at first. “I’m hoping I have a better experience,” he informed me.
As for Ontario Hyundai, I reached out to them for a remark in regards to the state of affairs three separate occasions to attempt to get their aspect of what occurred and was by no means in a position to get in contact with anybody. David mentioned they proceed to explode his telephone, both attempting to make a deal or as a result of what they’ve executed to him is beginning to make the rounds on-line.
Source: jalopnik.com