RazorLab

iTrader: (8)

Holy crap, you are driving a $43,344 RA.

Did you have negative equity from your trade in or get bent over on APR?

zx-319

iTrader: (2)

Keep in mind he is in Canada... MSRP for the Ralliart in Canada is 33K$ and we are taxed like crazy. My Ralliart costs me around 43K$ too but I had a few thousand of equity from my Lancer '08...

I'm afraid that if you don't try to negotiate and have an interest rate of 2.9%, a Canadian will end up paying well over 40K$ for it's Ralliart

Babaki

you're talking about financing the car. the thread is about a lease. my car is leased. thats my payment.

tjwphoto

iTrader: (2)

the lack of reading in this thread has made this a "talk about our finance payments" thread.

ArtofRalli

its not a cheap USA model where u have to purchase packages. This came fully loaded.

I put 0 down

ArtofRalli

It does not matter what thread this is. Im free to read and relay my thoughts.
Your buy out must be very high for the car. 20k?

RazorLab

iTrader: (8)

Neither was mine, You guys either have really expensive RA's in CA or you got bent over.

My RA was 31k MSRP USD (31.3k CAD) but I didn't pay anywhere near that.

sstevojr

iTrader: (7)

No its called compounding, the most powerful force in the universe. He probable only paid like $35-$36 for it. Here's how it works:
I traded in an 8 month old Subie, owed $18.3, got $14.5 (KBB was $13). Then put down $2, rolling over $1.8. Got a fully loaded RASB (Navi, Rockford, Recaro, HID, etc) for $29.9 (invoiced at $33.2, so I consider that a good deal). $29.9 plus the $1.8 gets to $31.7, and $0.8 for GAP, plus $2.7 for tax/title/liscense/fees gets to $35.2 so THAT is the price of the vehicle. NOW we look at interest for having to borrow to pay for this vehicle. Having a default auto loan from 5yrs ago (yes I kept the car, they werent able to repo), I was happy I was able to get 6.8% (my Subie was 10.9%, what a diffence 9 months of steady payments can do to lowering your interest rate 4.1% even though the Mitsu is valued at 160% more than the Subie!!!). Compounding that over 72 months comes to $597/month which is ~$43. "But wait that not the $35.2 you paid for the vehicle!" Thats correct, its interest compounded on interest, so instead of paying an extra 6.8%, you pay closer to 18%. Hence the value of prepaying; OR if you are a Finance person like me, you know that unless you plan to keep the car a long time (more than the life of the loan), you are throwing away money on prepayment. Instead only make the minimum payment, because I'm going to be rolling the equity into the next vehicle anyways.
And that boys and girls was a $2K lesson in Finance (college is expensive, but knowledge is power). Next time you go to buy a vehicle makes sure you have atleast a cursory knowledge of this

zx-319

iTrader: (2)

Prices in Canada are considerably higher than in the US. In fact, lots of people are willing to purchase a car over the border, pay the price to have it conform to Canadian laws and loose their warranty (cause most manufacture do not carry the warranty from one market to another).

Also, the Ralliart supply (and EVO X) seams to me very limited in Canada. Thus, usually when you go to a dealer to buy a RA, he only has 1 or 2 in stock. So he's not very open to negociate cuz he knows someone will buy it soon anyway.

Also, keep in mind, salaries are higher in Canada vs USA (average weekly salary in the USA for non-farm employees is 779.64$ and in Canada it is 855.66$).

npham455

iTrader: (1)

RA's are really limited in supply, especially in Alberta. I was told that Alberta was alloted roughly 10 RA's from early November to February or so. There's 7 Mitsubishi dealerships province wide too, so the math sucks...I did get a black 2011 incoming this week though

ArtofRalli

I have 4 other friends that have purchased RA's in the province of Ontario. All four individuals payed between $42,000 and $44,000. It's clearly different as in the States.

initial_d2k

iTrader: (3)

i'm paying 670 a month for 60mth.. 40k Canadian RA owner here as well =(
It sucks to think that I couldve gotten a Evo X SE in the states with that money ...

Lourance

I salary sacrificed mine so my RA costs me $550.00 a fortnight over 48 months with a 26% residual.

But that $550.00 covers all my running costs. ie fuel, tyres, servicing, rego, insurance etc as this is taken out of my pay before tax is calculated.

Its like instead of costing me $1.30 a litre of fuel its works out more like costing me $1.00 a litre.

tjwphoto

iTrader: (2)

just sealed the deal on sunday, picked it up last night, and i love it. final payment was $239 before mass tax. very happy so far, the forum is one member larger

rtcsakket

Hi all, I'm new to this form and wanted to lease a 2011 RA. I wanted to get some information from you guys on the lease deals that you were able to get so that when I step into the dealership I have some clue as to where the price range should be around. Thanks and I'm hoping to join you guys soon as an Lancer RA owner!