I'm In, Baby!!!!
Jun 24, 2005, 06:08 AM
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I'm In, Baby!!!!
Per the recommendation of some of you fine folks, I contacted HB Mitsubishi last week and inquired about an '05 EB with SSL. They had one (fresh off the boat). I haggled a bit over the internet and got them down to invoice. Additionally, they're offering me a very generous amount for my Eclipse - about $1500 over bluebook. This might have to do with the fact that it just had a $4800 repaint (courtesy of Mitsubishi) and I've maintained it fanatically. So with $5K down I'm financing about $38K at 6.49% for 84 mos. The payment is a modest $575 (including GAP). HB Mitsu has been easy to deal with. They did try to pull a little fast one me, but it pays to know the amortization formula by heart (I know a little mathematics). I caught the extra $1500 or so that they tried to tack on. Dealerships love to work with the payment instead of the purchase price. Other than that, I recommend them.
This may seem like folly to some of you fiscally responsible types, but I could care less. As I had brought up in a post a few months ago, some of the members who excoriated me for considering an Evo (under admittedly far worse conditions than this) are the same folks who have dropped thousands in mods to get an extra one or two seconds in the 1/4 mile. A wise investment? I think not. My point is that I could die any day (as could we all), so why not have fun. As much as I'm in love with my Eclipse GTS, I anticipate becoming even more attached to this car.
I pick it up tomorrow. A four-hour drive from Fresno to Huntington Beach is well worth it. I couldn't find the EB with SSL anywhere in the Central Valley. Even if I had, I doubt I could have gotten this deal.
My intentions for the car? I'm going to keep it bone stock, except for a K&N air filter. This will be the most expensive car I've ever purchased. I'm really particular about how I treat cars, in general. I do not intend to race, track, launch, or even redline it. Before you purists weigh in with your "then-you-shouldn't-buy-the-car-if-you-don't-intend-to-drive-it" comments, I'm not any different than the suburban housewife who buys a Hummer and uses it to drive to Wal-Mart. In any event, it'll last a lot longer if it spends 95% of its life staying stock and traveling at 65 MPH on flat two-lane highway. I intend to be one of the folks who gets 100K on their stock clutch, etc.
This may seem like folly to some of you fiscally responsible types, but I could care less. As I had brought up in a post a few months ago, some of the members who excoriated me for considering an Evo (under admittedly far worse conditions than this) are the same folks who have dropped thousands in mods to get an extra one or two seconds in the 1/4 mile. A wise investment? I think not. My point is that I could die any day (as could we all), so why not have fun. As much as I'm in love with my Eclipse GTS, I anticipate becoming even more attached to this car.
I pick it up tomorrow. A four-hour drive from Fresno to Huntington Beach is well worth it. I couldn't find the EB with SSL anywhere in the Central Valley. Even if I had, I doubt I could have gotten this deal.
My intentions for the car? I'm going to keep it bone stock, except for a K&N air filter. This will be the most expensive car I've ever purchased. I'm really particular about how I treat cars, in general. I do not intend to race, track, launch, or even redline it. Before you purists weigh in with your "then-you-shouldn't-buy-the-car-if-you-don't-intend-to-drive-it" comments, I'm not any different than the suburban housewife who buys a Hummer and uses it to drive to Wal-Mart. In any event, it'll last a lot longer if it spends 95% of its life staying stock and traveling at 65 MPH on flat two-lane highway. I intend to be one of the folks who gets 100K on their stock clutch, etc.
Last edited by mathgeek; Jun 24, 2005 at 06:15 AM.
Jun 24, 2005, 06:16 AM
#2
not sure if i follow u here: $38K? Even an MR is not that much and you're getting a GSR. If you're getting the car at Invoice then you're probably looking at around 31,500 (for the GSR with SSL pkg) minus your 5000 down and you're loan is at approx $26,500.
btw your total payments are at $48,300 ($575x84months)...are u sure you're not getting scammed or do you have super high negative equity in your eclipse?
btw your total payments are at $48,300 ($575x84months)...are u sure you're not getting scammed or do you have super high negative equity in your eclipse?
Originally Posted by mathgeek
Per the recommendation of some of you fine folks, I contacted HB Mitsubishi last week and inquired about an '05 EB with SSL. They had one (fresh off the boat). I haggled a bit over the internet and got them down to invoice. Additionally, they're offering me a very generous amount for my Eclipse - about $1500 over bluebook. This might have to do with the fact that it just had a $4800 repaint (courtesy of Mitsubishi) and I've maintained it fanatically. So with $5K down I'm financing about $38K at 6.49% for 84 mos. The payment is a modest $575 (including GAP). HB Mitsu has been easy to deal with. They did try to pull a little fast one me, but it pays to know the amortization formula by heart (I know a little mathematics). I caught the extra $1500 or so that they tried to tack on. Dealerships love to work with the payment instead of the purchase price. Other than that, I recommend them.
This may seem like folly to some of you fiscally responsible types, but I could care less. As I had brought up in a post a few months ago, some of the members who excoriated me for considering an Evo (under admittedly far worse conditions than this) are the same folks who have dropped thousands in mods to get an extra one or two seconds in the 1/4 mile. A wise investment? I think not. My point is that I could die any day (as could we all), so why not have fun. As much as I'm in love with my Eclipse GTS, I anticipate becoming even more attached to this car.
I pick it up tomorrow. A four-hour drive from Fresno to Huntington Beach is well worth it. I couldn't find the EB with SSL anywhere in the Central Valley. Even if I had, I doubt I could have gotten this deal.
My intentions for the car? I'm going to keep it bone stock, except for a K&N air filter. This will be the most expensive car I've ever purchased. I'm really particular about how I treat cars, in general. I do not intend to race, track, launch, or even redline it. Before you purists weigh in with your "then-you-shouldn't-buy-the-car-if-you-don't-intend-to-drive-it" comments, I'm not any different than the suburban housewife who buys a Hummer and uses it to drive to Wal-Mart. In any event, it'll last a lot longer if it spends 95% of its life staying stock and traveling at 65 MPH on flat two-lane highway. I intend to be one of the folks who gets 100K on their stock clutch, etc.
This may seem like folly to some of you fiscally responsible types, but I could care less. As I had brought up in a post a few months ago, some of the members who excoriated me for considering an Evo (under admittedly far worse conditions than this) are the same folks who have dropped thousands in mods to get an extra one or two seconds in the 1/4 mile. A wise investment? I think not. My point is that I could die any day (as could we all), so why not have fun. As much as I'm in love with my Eclipse GTS, I anticipate becoming even more attached to this car.
I pick it up tomorrow. A four-hour drive from Fresno to Huntington Beach is well worth it. I couldn't find the EB with SSL anywhere in the Central Valley. Even if I had, I doubt I could have gotten this deal.
My intentions for the car? I'm going to keep it bone stock, except for a K&N air filter. This will be the most expensive car I've ever purchased. I'm really particular about how I treat cars, in general. I do not intend to race, track, launch, or even redline it. Before you purists weigh in with your "then-you-shouldn't-buy-the-car-if-you-don't-intend-to-drive-it" comments, I'm not any different than the suburban housewife who buys a Hummer and uses it to drive to Wal-Mart. In any event, it'll last a lot longer if it spends 95% of its life staying stock and traveling at 65 MPH on flat two-lane highway. I intend to be one of the folks who gets 100K on their stock clutch, etc.
Last edited by KZEVO; Jun 24, 2005 at 06:19 AM.
Jun 24, 2005, 06:20 AM
#3
How in the world can you imagine that you are getting a good deal? With a down payment of $5,000 you end up financing 38K????? Even taking off $3000 for taxes and such, that means you are paying $40,000 for a car that stickers for less than 35,000..... and invoices at around 32,000.
Unless I am missing something here, you got screwed.
Keith
Unless I am missing something here, you got screwed.
Keith
Last edited by Fourdoor; Jun 24, 2005 at 06:22 AM.
Jun 24, 2005, 06:25 AM
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I had negative equity in my Eclipse (about $7K). The $5K down took a big chunk out of that. Since I got the car at invoice, I'm basically financing a little bit over MSRP + tax, license, etc..
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Jun 24, 2005, 06:51 AM
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sounds good man welcome to the club. i pay a lot worse then 6.49%. kids don't get good rates a month after they come back from school (credit card debt). so 43k before down payment and 36K after eclipse pay off. 36k for ssl with tax ~$2500 and $1000 for the title and license. that seems fair. to defend my modding, i bought my new 04 RS for 26k+$2000+ in mods to shave a second off my quarter mile puts me a 28K for a beast. after all said and done im paying $471/month+$50/month mod money for loan with a trade in for 5k for 60 months. cheap enough for me. i was sick of audis/350zs/bmw/camaros keeping up with me on the highway.
Jun 24, 2005, 07:17 AM
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Congrats on the new ride dude, but as for the deal you got....
I didn't want the SSL package, although the dealer had one in the color I wanted also. I think I got a pretty good deal, he gave me the MSRP out the door, waived off the dealer fee, tax, tag and title, also they ate up the last 4 payments on my previous lease (which is about $1040 in total), I have good credit and was able to get 4.75% APR, with 5K down for 72 months my payment is about $440 with GAP. If I decided to get the one with the SSL package, my payment would've been about around $485
I didn't want the SSL package, although the dealer had one in the color I wanted also. I think I got a pretty good deal, he gave me the MSRP out the door, waived off the dealer fee, tax, tag and title, also they ate up the last 4 payments on my previous lease (which is about $1040 in total), I have good credit and was able to get 4.75% APR, with 5K down for 72 months my payment is about $440 with GAP. If I decided to get the one with the SSL package, my payment would've been about around $485
Jun 24, 2005, 07:25 AM
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I've calculated that if I pay an extra $200/mo. toward the loan (which I can afford), the car will be paid off in under 5 years and I'll save over $4K in interest. 6.49% is, in my opinion, a pretty good rate for 84 mos. Interest rates have been going up lately, and there is no special financing for the Evo (like 1.9%, 2.9%, etc.). Yeah, I'll end up paying a good amount for the car when all is said and done, but it'll be worth it to me. And again, I am not planning on modding the vehicle at all (honestly).
Jun 24, 2005, 07:28 AM
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Originally Posted by blackevoVII
alittle bit over invoice? Are you on crack. You're paying A LOT more over MSRP. Secondly never ever take an 84 month loan.
