Chewie4299

I just went to check out the Silver IX MR at the local mitsu dealer here. I am dead set on getting rid of my VIII for it. They were closed but the sticker price on the window was about $35k. (Oh by the way i know there are like 500 threads on "what did you get your evo for" and "IS this a good deal" but I value your opinions and would like to see what you say about my current situation.)

Do you guys think i could get them down to 34k on that car? Also what do you think I might be able to get for this on a trade https://www.evolutionm.net/forums/sh...d.php?t=194008
Yes I've checkd KBB but i want to hear from personal experiences.

My situation is this, I only recently bought my Lightning Yellow 03 for $28k with 28k miles (yea i realized later i made a HUGE mistake and should have gotten an IX as i got totally ripped off on that) I have nothing for a down payment at the moment other than whatever i can get for the car (which i owe 23k on). I should probably wait till mid-summer and save a thousand or two to add to that which i will also owe a little less on by then. But I'm worried about not being able to get as much for it as it is my daily car and i will be putting miles on it.

What would you do? Trade is ASAP possibly even before the first payment is due? Or wait and save a little bit to add as a down payment?

I also realize that my interest rate on the new car should be far less than the 9% im paying now ($431 a month atm) So I'm hoping that even though I wont be able to put $7000 down like I did on the VIII and the car will cost about 6 or 7 thousand more. The fact that I wont be paying 2k for an extended warranty and will have a lower interest rate im hoping will keep the payments to 500 or less.

I've been told to look into cancelling the 100000 mile extended warranty i bought to see if i can get a little cash back.


Any advice from anyone?

Edit: I should add that I ended up paying over 31k OTD on the 03 VIII. Yes i know i got my a** raped up and down. Thanks for pointing that out.

Possibly even 32 or closer to 33.

Fierysun

Here's a link for reference.

https://www.evolutionm.net/forums/sh...d.php?t=193135

Unfortunately, you'll probably only get around 20k in trade in.

Good Luck.

bigfishs

iTrader: (5)

Another trade thread. How does everyone not know about south coast mitsu by now

You will be lucky to get 23K for your car in a private sale let alone trade. You have 2 options.

1. Enjoy the evo you got. There are people starving all over the world, and you get to drive an evo. Take a step back, enjoy life, do some cool mods (if you havent already).

2. Sell your 03 privately, get as much as you owe on it. (EDIT start saving, ride a bike to work.( Wait and hope that they bring out 0% finacing on the 9's in sept.

Secret option number 3, use the search function, or read evogeneral for 5 days straight. By the end of the 5 days you will know everything you need to know about this topic and the following

CELs caused by exhausts, what will void your warrenty, BOV's, intakes, what you need a flash/fuel pump for, who hates Warr, whats that noise when I drive my car after washing it and letting it sit over night to name a few

hardt45

iTrader: (2)

Enjoy your car, man. You've been wanting an Evo for a long time and now you have one. It's not like the IX's are that much better than the VIII's.

gaulrich2003

iTrader: (7)

You made a good point about the interest rate but you lose the money you paid for taxes, title etc...on the IX. I would just put the money in the VIII and also call around to try and get a lower interest rate on the VIII. I got 4% interest on my 03' that I purchased in June of 2005 by calling around. Good luck.

naucrx

iTrader: (19)

This is really a no-brainer here. You're upside down on your VIII, financially the dumbest thing you could do is trade it in on a more expensive car and roll the negative equity into a $35,000 car. Even with a good interest rate and stretching the loan out for 72+ months your payments are going to be over $600 a month.

Keep your VIII, that's what I did! I recently decided against trading in my VIII for a IX, and I own my VIII.

justchil

iTrader: (44)

Take out a loan for 5.. 10.. 15k and spend it on the VIII

No but really. naucrx is right.

I've been in a similar situation... long story short I had a rough couple years making payments and keeping the car running as well as modding it. It took me 2 years AFTER I got rid of the car to pay CC debt.

I will never finance a car for more than 4 years.. I have the EVO on a 4yr loan and my next car will be 3yr (I'll keep the EVO). Low payments sound good when drawn out over 5-6 years but a lot can happen in that time frame and you don't need to get stuck with something. Not to mention the car will have less miles/higher value so you will be better off if you trade in down the road with a shorter loan term.

her0

One of my close family members has a IX RS while I have an VIII RS (we race them). As such, I have A LOT of seat time in both.

Aside from the MINOR irrelevant differences (seats, cupholder, vanity mirrors....), the only thing you will notice is the IX's shifter and clutch is leaps and bounds better than the VIII. That is to say, throws are shorter, more responsive, less rubbery feel. Also, the IX has less turbo lag.

Big mistake IMHO but to each his own.

johnturbotron

iTrader: (4)

I am thinking of trading my VIII in for a IX also, my plan is to sell my VIII privately then wait till the end of the summer and see if MMNA goes with 0% financing. If I have to I will still purchase at a higher Interest rate but I will not have any negative equity on my VIII.

Turbo Meg

iTrader: (5)

This post is 100% dead on

Did you say you wanted to trade it before you made your first payment? Don't be a fool keep the VIII.

evo_z

Assuming that you're not rollin in green paper, I think you should just keep your 8 since you pretty much got a sour deal on it, no need to aggrivate the situation by jumping into more debt. If you trade in now, you just end up with a bigger loan to pay and a higher payment. Financially this would be the best action, two wrongs dont make a right you know. If you STILL want to proceed, the best thing to do is sell it at or near the amount you owe, save up for a nice DP on the 9 and then get another loan for the difference.

akemi27

iTrader: (17)

stop reading the "Just got my IX!" posts...you got an evo that's lemon colored but not a lemon itself...enjoy it!

Chewie4299

i was thinking of selling rather than trading. I just hate getting stuck with a crappy crappy deal on an Evo8 (which is good) when i'd me willing to pay just a tiny bit more (now that ive thought some more i'd probably get an IX with SSL over the MR) for a good deal on a brand new Evo9. Id be far far happier and while i still have to work out the details i think i can make it happen with minimal losses. Ill save for a few months and then sell mine privately and get a nice white SSL

akemi27

iTrader: (17)

what made you get the evo so quickly (it seems like) there are a few good evo's being sold here on evom...