Am I freakin' crazy to even consider this?
Mar 26, 2005, 11:38 AM
#17
erm, no, don't do it.
the idea isn't to finance for 5 or 7 years, it's the idea that you have that long to pay for it. Do some double payments, or throw a few hundred more in each month, and pay the **** off ahead of time. Only time when it makes no sense to, is when you got 0% financing, which i don't assume anyone got on the evo
the idea isn't to finance for 5 or 7 years, it's the idea that you have that long to pay for it. Do some double payments, or throw a few hundred more in each month, and pay the **** off ahead of time. Only time when it makes no sense to, is when you got 0% financing, which i don't assume anyone got on the evo
Mar 26, 2005, 11:40 AM
#18
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Originally Posted by DahakaJR
Umm, My house payment is about 850.
Also, don't pay that much for that long for an Evo. As much as I think the Evo rules, it's not worth that deal at all. Especially considering maintenance costs, etc...
Mar 26, 2005, 11:46 AM
#19
I feel your pain Brother Math Geek.
I was in the same spot before I bought my Evo. with negative equity in my previous car. The best thing you can do is sell your currnet car privately. This will get you more money then the dealer is going to give you. Keep in mind though that you will need to have to pay the difference between what you sell the car for and what you owe.
Once you get that out of the way save two to five thousand for a down, get pre-approved financing from a credit union for 30k (better then banks), walk back to the dealer and say, "I have pre-approved financing for 30k and I want an Evo". They may laugh or try to talk you up in price but you can get them for under 30k. I got mine for 28,500 brand new with 2 miles on it. They will fight you but just keep walking away. Since you have the pre-approved financing you get past all the dickering with "does he qualify for credit" bs. I also like to put a time limit on the dealer. I go in and say "I want that car for x price and you have 45 minutes to close the deal or I'm walking."
Dont forget you can find a used Evo between 20 and 24k. Used may be a viable option for you as well!
Good Luck!
I was in the same spot before I bought my Evo. with negative equity in my previous car. The best thing you can do is sell your currnet car privately. This will get you more money then the dealer is going to give you. Keep in mind though that you will need to have to pay the difference between what you sell the car for and what you owe.
Once you get that out of the way save two to five thousand for a down, get pre-approved financing from a credit union for 30k (better then banks), walk back to the dealer and say, "I have pre-approved financing for 30k and I want an Evo". They may laugh or try to talk you up in price but you can get them for under 30k. I got mine for 28,500 brand new with 2 miles on it. They will fight you but just keep walking away. Since you have the pre-approved financing you get past all the dickering with "does he qualify for credit" bs. I also like to put a time limit on the dealer. I go in and say "I want that car for x price and you have 45 minutes to close the deal or I'm walking."
Dont forget you can find a used Evo between 20 and 24k. Used may be a viable option for you as well!
Good Luck!
Mar 26, 2005, 11:55 AM
#20
would i go out of my way for an evo? hmmm thats a pretty dumb question to ask me since i have converted several mirages into the older gens of the evo series and have been tryin to work deals with people that have jdm evos and even importing my own, **** man goin to a dealership and buying one looks a lot easier to me hahaha
Mar 26, 2005, 11:56 AM
#21
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Yeah...if you're that hard up for an Evo, look into going used. There are risks involved with that, but it's not a terrible option. You can find a decent amount of Evo's on Ebay or other locations for a good price. If you don't want used, then stick it out for the IX's. 800 smacks a month for a car is sick...and not good sick, either!
Mar 26, 2005, 12:02 PM
#24
Speete's Evo Story-
I got rid of my Evo because I couldn't stand paying out the butt for insurance,along with premium increases everytime another Evo driver sneezes in their car(my record is perfect). Dumping 80 bucks a week in fuel(paying as much as $2.90 a gallon) to commute a short distance to work did'nt help either. My payments weren't so bad, but the devaluation seems to be dropping faster than I could pay the car off. Due to my driving habits I blew threw 4 sets of tires and three sets of brakes in 8k miles. Also, the latest mods would come out that I'd just have to get...
The point of all this- Evo ownership is much more than your monthly payment, and dumping that much money on a car just to have it sitting in your driveway is hard to justify. Not to mention the complaints of you spouse, and the crappy service that goes hand in hand with Mitsubishi.
All this aside, the Evo 9 will be mine!
I got rid of my Evo because I couldn't stand paying out the butt for insurance,along with premium increases everytime another Evo driver sneezes in their car(my record is perfect). Dumping 80 bucks a week in fuel(paying as much as $2.90 a gallon) to commute a short distance to work did'nt help either. My payments weren't so bad, but the devaluation seems to be dropping faster than I could pay the car off. Due to my driving habits I blew threw 4 sets of tires and three sets of brakes in 8k miles. Also, the latest mods would come out that I'd just have to get...
The point of all this- Evo ownership is much more than your monthly payment, and dumping that much money on a car just to have it sitting in your driveway is hard to justify. Not to mention the complaints of you spouse, and the crappy service that goes hand in hand with Mitsubishi.
All this aside, the Evo 9 will be mine!
Mar 26, 2005, 12:04 PM
#26
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why not look into leasing? I know it's always fun to own a car, but leasing can get you closer to right-side-up quicker. If you do a 3 or 4yr lease to be able to enjoy the car, the payments should be around 5-600/mo for a 4yr lease
Might want to just go talk numbers with them about leasing.
Might want to just go talk numbers with them about leasing.
Mar 26, 2005, 12:08 PM
#29
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you can still own when you lease. you just make that last payment.
The avg. time for owning a car is 42mos. That is shorter than most people pay for them. The avg finance term is between 48-60mos. What is the point of financing that long if you are going to sell it before you technically own it?
The avg. time for owning a car is 42mos. That is shorter than most people pay for them. The avg finance term is between 48-60mos. What is the point of financing that long if you are going to sell it before you technically own it?
