Hello everyone! I wanted to gather some feedback on a CPO GV70. I recently lost my Elantra N due to a freak flash flood, and started car shopping. It’s terrible out here right now, but I stumbled upon a CPO 23’ GV70 SP for around 47k, with taxes and fees runs up to 51k. I planned to put 7500-10000 down on the vehicle but was questioning if this was a decent buy.
Vehicle was a service loaner with almost 4500 miles on the clock. It seems to have never been sold to someone and just used as a loaner, I assume. Do you think this is a decent buy or is new a better option? I also assume that the warranty period started when it was out into service as a loaner. Am I correct in assuming that?
Bet, def plan on asking them as I’ll have to fly out to buy the car or have it shipped here to Florida. I am unsure if the price is decent, considering I am comparing it to FL dealers and it’s cheeks to buy a car out here haha
Well, in terms of looking at it as a decent buy, do you expect to keep this long-term?
It is a Hyundai product so I’m sure you’re already familiar with brand reliability, etc.
What’s its comparative value to other cars in the segment? Could you lease something similar for a lower total cost of ownership? Buying a loaner or demonstrator unit is often a good way to get a discount, but if it’s a '23 you might have to factor in the depreciation considering '24s are out.
Flying out and driving it back, or shipping the car is indeed something quite a few of us do - but you are correct, you have to assess that cost as well in your final calculation.
I am def thinking of keeping it long term, which is why I’m looking at the sport prestige package version of it. Would love a 3.5T, but it seems to be a terrible gas guzzler compared to the 2.5T.
I’ve been comparing it to a X3, but everything I’m finding is around 25-30k miles in the m40i version. Basically, I am trying to get a decent suv that has a ton of creature comforts. I was also looking at an SQ5 CPO but pickings are slim and seem to be super high mileage compared to what’s left on the warranties.
Yea with the 24’s being out, I still see the 23’s sitting around 55-57k before taxes and fees. I figured with a big enough downpayment I’d avoid the depreciation but who knows with how the current market is. Looks like I def have to see what I really want to do, and I appreciate you kind of talking me through some questions I hadn’t thought of, thanks!
Of course, if you’re keeping any of these for the long term I’d def. suggest a religious maintenance interval - I can’t give you as much input there as I don’t usually buy cars.
I think you’re mislabeling the depreciation part - putting a downpayment on a lease/loan, etc. doesn’t per se avoid the depreciation but the negative equity part of a loan when the loan outstanding is greater than the value of the car - you are just moving money around. the car will depreciate the same regardless of what type of downpayment you put.
Yea def mislabeled haha, sorta sleep deprived but who isn’t nowadays . Yea the negative equity part is def what I am trying to avoid, but at the same time I don’t think it would matter much if I’m keeping it long term.
I def will religiously maintain it but luckily I only drive about 6-8k miles a year, so not too much wear and tear aside from aging components. Thanks again for the really helpful advice!
Genesis first owner warranty is 10 years/ 100k miles for the powertrain. This is not transferable- the 2nd owner only gets 5 years/ 60k miles. I’d check to see which would apply to you.
My wife had a GV70 3.5T for a couple years. It was probably the best option available during the pandemic when used BMW X3s were asking over MSRP, but I’d likely go another direction these days given the option.
Sorry about your elantra N. On the GV70 if it’s certified you get 6 years 75000 miles limited and 10 years 100k miles powertrain warranty from the original in-service date. You can read the attached warranty provisons, but for this loaner (with 4500 miles) it seems like the powertrain warranty coverage is a bit less (~9 yrs / 95,500 miles) and you get a better limited warranty(~5yrs / 70,500)
Almost 20% discount for the loaner sounds like a good deal. If you’re after the loaded features its hard to find a comparable alternative for that price in the segment. Also since you’re looking at the 2.5 engine, a fair comparison would be with X3 30i and the equivalents( not m40i). I know the 2.5 in the genesis makes more horsepower(300) than X3 4cyl but I think the powertrain in the BMW is much better tuned and the fuel economy should be better as well.
Another thing to consider with the GV70 is the cramped rear seat. Coming from your elantra, you’ll find it the same if not worse with the transmission tunnel. Good luck with your search.
Awesome, thanks for the helpful comparison! I’ll look to see if I find a loaded s30i, and I really appreciate the genesis CPO checklist you provided! My search continues haha
I would have to get more quotes but so far in Miami, I have not been able to get a quote of lower than MSRP. From the forum searches I have seen posts from a couple months ago where some dealers were discounting but unfortunately I can’t replicate this here.
It’s been pretty much a tenet of this forum since inception that to get a deal in S. Florida you are going to have to venture out of S. Florida. Maybe out of the state entirely.
. Yea the negative equity part is def what I am trying to avoid, but at the same time I don’t think it would matter much if I’m keeping it long term.