Bumby Elantra

I have a 2004 Elantra with 130000+ miles. Lately I have noticed bumpy ride along the concrete highway. It bumps like a Yo-Yo.

What Could be the issue and how expensive?

Probably your shocks or struts need to be replaced.

Make sure your tires aren’t overinflated, although this time of year they’re more likely to be underinflated if anything.

If you are telling us that there is an excessive amount of up-and-down action in the suspension, that is a very good indicator that the struts (or shocks, depending on the construction of your car) are worn out. After at least 6 years of service, and 130k miles, it would make sense that these components are now worn out.

This is not just a comfort issue.
It is also a safety issue, as bouncing tires do not make good contact with the pavement, and this can lead to loss of traction, particularly if the pavement is wet or wintery.

If you want to hold down the cost, don’t take this car to the dealership.
I suggest that you take it to a well-reputed independent shop in your area for an estimate. Without knowing anything specific regarding this model, I would imagine that replacement of 4 struts (or 2 struts and 2 shocks) would run anywhere from ~$400-$600.

Thanks. I am going get it checked out.