Hyundai Sonata Resale Value: Do They Hold Their Value? What To Know

Published December 13, 2023
in Car Costs and Prices

It is important to understand a car’s resale value and how well it keeps that value. It helps you with better financial planning because you’ll have a good idea of what your vehicle will be worth. Also, it guides you in choosing cars that don’t lose value quickly, which is a smart move. Plus, it helps you figure out how much owning the car will really cost you, including how much you might get back when you sell it.

In the case of the Hyundai Sonata, how well does this sedan hold its value?

The Hyundai Sonata is known for its stylish design, comfortable interior, good fuel efficiency, and strong reliability, which is why it’s a constant best-seller for the South Korean automaker. However, how is its ability to retain value over the years? How does its resale value compare to its competitors? We’ll answer these questions and more.

Hyundai Sonata Resale Value

What do experts have to say when it comes to the Sonata’s resale value? iSeeCars has a handy analysis of the Sonata’s resale value and how it ranks within Hyundai’s entire lineup.

The study found the Hyundai Sonata’s five-year resale value of approximately 55.3% places it in the middle range among Hyundai models. This figure indicates that a Hyundai Sonata retains just over half its original value after five years, which is relatively standard for midsize cars. Still, it is slightly lower when compared to the top performers in Hyundai’s lineup, such as the Santa Cruz and Veloster N.

Several factors could influence the resale value of a Sonata sedan. These include its reliability, popularity, initial cost, maintenance costs, and tech advancements. Also, the Sonata’s features, such as safety ratings, fuel efficiency, and interior comfort, greatly influence its depreciation rate.

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Conversely, CarEdge has a different set of values for the Hyundai Sonata, which is likely because CarEdge evaluates the Sonata’s value overall instead of a specific model, as we do with iSeeCars. As per the website, a Hyundai Sonata is expected to depreciate 35% after 5 years. This means that its resale value after five years would be around $20,712, assuming an original selling price of $31,801.

In addition, the website advises that if you buy a 2-year old Hyundai Sonata, you could save about $2,954 compared to getting a brand-new one. Plus, you’d still be getting a relatively new car. Additionally, if you own this car for three years, the total decrease in its value, known as depreciation, would be around $8,135.

The resale value of the Hyundai Sonata shows how it ranks well in the busy midsize car market. It may not be the highest valued among Hyundai’s lineup, but its ability to hold onto its worth over time aligns well with what’s typical for cars of its type.

HOW LONG DO HYUNDAI SONATAS LAST?

This midsize sedan has been on the market since 1985, offering a sleek and affordable ride. If you’re thinking about investing in the product, you might wonder - how long do Hyundai Sonatas last?

Used Hyundai Sonata Buyer’s Guide (Powered by CoPilot Price Pulse Tool)

In this section, we’ll assess the Hyundai Sonata’s performance in the second-hand market to understand its value over time better. Leveraging our Price Pulse Tool, we delved into how the 2018 Sonata fares in the pre-owned market. Our findings are as follows:

Increasing resale value: The 2018 Hyundai Sonata is priced at $16,517, which is $3,065 above the anticipated value. This shows a significant 22% increase from the original price forecast.
Slower depreciation rate: Although the projections claimed the Sonata’s price would drop over time, it stayed pretty high. This means the Sonata isn’t losing its value as fast as people thought it would, which bodes well for the sedan’s resale value.
Comparison to other model years: When compared with other model years, the 2018 Sonata has one of the highest price premiums. This generally points to elevated consumer interest or value in features from this specific year.
Potential for more price drops: According to the Price Pulse tool, the current market prices are lower than their peak, indicating it might be a good time to buy. However, further price drops may be possible soon, which could be beneficial if you are willing to wait.
Quick tips for buyers: If you’re a potential buyer, you should not only consider the market trends but also look at mileage, the condition of the vehicle, and your personal requirements before making a beeline to the dealership.

The continued success of the 2018 Hyundai Sonata in the used car market is a testament to its enduring appeal. Its design, feature set, performance, and the reputation of the Hyundai brand for reliability are all likely contributing factors to its strong performance in the pre-owned market.

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Hyundai Sonata Resale Value VS Competitors

The section below compares the Hyundai Sonata resale value with some of the biggest competitors in its class:

Toyota Camry: The Camry is one of the paragons of reliability in the sedan market, so it’s not surprising that it retains its value very well. With that said, the Toyota Camry fares better than the Sonata, with a depreciation rate of 40.7% in five years, retaining more of its value over the same period.
Honda Accord: The Accord is another classic sedan that excels in terms of reliability and longevity, making it one of the best models for resale value. As such, the Honda Accord shows a stronger resale value with only a 39% depreciation rate in five years, indicating it retains more value than the Sonata by 5.7 percentage points.
Nissan Altima: The ubiquitous Nissan Altima is a solid sedan for those looking for good value, reliability, and fuel economy. In terms of resale value, the Nissan Altima depreciates by 48.9%, which is more than the Sonata, making the Sonata the better option in terms of resale value between the two.

As you can see, the Hyundai Sonata holds its value moderately well, outperforming the Nissan Altima but trailing behind the behemoths like the Toyota Camry and Honda Accord in resale value. Overall, the Sonata is a balanced midsize sedan choice through and through.

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