Hm I wish my girlfriend would see this thread. She just financed an 03 Evo throu some company, and her payments are higher also because she bought from a private seller (maybe you 2 are using the same company)

Her name on here is:

Tiffany&coNY

If you want to PM her n ask her about what shes doing. She went throu the same boat as you are going throu.

 

Capital One Auto Finance is a good way to go. Their blank check program is what I used to finance my 03 which is pretty easy. Looking around here, you guys got some good rates compared to mine. The finance rate with COAF & maybe even most loans will always be higher when buying from a private party for some unknown reason. Someone actually told me it was bc it's more of a risk. I think buying from a dealer is more of a risk/expense because most dealers won't tell you what has happened to it in the past. If you buy from a seller on here, you can skim through some of their older posts and get a feel on how much they did to it and what not. a credit union is a good choice, but some of them want you to open up and have an account for a while, plus have around 20% of the price to pay for the car. going with a credit union could give you a better rate, but its a pain if you're impatient. just my $.02. hope it helped.

 

^tritech! ...jk but yes, refer back to my post. You pretty much nailed it there...on why the rates are higher with private buys

 

I went through my local credit union. My car was a year and a half old when I bought it. My rate was 6.49%.

 

the other thing to consider is with a new evo you get a realy great warranty

but seriosly if you got used the taxes prob out weigh the 2 points plus maybee you could get some mods already on the car

 

Check out a Credit Union. I got my 03 USED EVO with 13,ooo miles on it from a private party at a great 4.99% yearly interest rate..... I have Spectrum Federal Credit Union here in San Francisco.

 

4.99% How long ago did you lock that one in?

 

I purchased my Evo in September of '04.....loan approved no more than 30 days prior to the actual purchase. I was approved and went looking for my Evo.... I have a couple of friends that were locked in at 6.99% and higher for their USED Evo purchases (roughly same time frame when they purchased compared to when I purchased)....I told them to go through a Credit Union...but they didn't listen.

 

I bought my '05 new at a dealership and got 2.9%! YAY

 

I remember for a while Mitsubishi was doing the 0% thing (that all the American car companies are forced to do lol) but I haven't seen it in a few years now??

 

try a credit union. if you don't belong, try to sign up for one. you're likely to get a better rate from them.