lancer r us

HELLO GUYS. I WAS WONDERING WHAT BY HOW MUCH AM I LOOKING AT FOR A DOWN IF I DECIDED TO TRADE IN MY 2002 OZ LANDER 9200 MILES. (KELLY BLUE BOOK 8500) FOR AN EVO. I MEAN HOW MUCH MORE DOWN DO I NEED? CAUSE I WAS PLANNING TO PUT ATLEAST 3000 GRAND ON TOP OF MY CAR. BY THE WAY I ONLY MADE 7 PAYMENTS SO FAR! 7 OUT OF 48

Secret Chimp

iTrader: (2)

No one here can tell you how much you will have to put down on your car because none of us know how much you still owe on your loan. Chances are that if you didn't put much deposit down when you bought it, you will owe a bit more than you will get as a trade value from the dealer.

If you are really serious about doing this, try to sell your Lancer to a private party. You'll get more money...and you'll minimize the chances that you'll be upside down with your current loan.

btw, please do not post in all caps.

SC~

uranium9v

iTrader: (3)

are you serious??? 8500 blue book? That's like half the price loss in 1 year.....that sucks!

!!!!!!!!!!!!!0Z

iTrader: (1)

Sell the OZ privately. You'll get more $$$ to put towards the Evolution.

pisetup

iTrader: (2)

I already tried trading in the Lancer for an Evolution, too much money, my car payment would be like 6xx a month..

VanillaEps

It's hard to sell a car that is hardly a year old via private party. Most people are skeptical regarding the reason behind selling a car so soon. Others feel that they would rather buy it new if they are going to buy an '02.

Either way good luck with selling the car. I agree that the best route is to be patient and sell the car privately. If you are planning to put money down...you might need that money to pay off your existing loan - depending on how much you can get privately and how much you owe.

LancerXtreme

iTrader: (5)

Or sell it to a sibling. My sister is gonna do a Home Equity Loan and payoff the Lancer. She is then gonna keep it and give me $7,000 towards the EVO. Im giving it to her all suped up.

Event-Horizon

iTrader: (1)

you're really upside down on the OZ.

look at it this way:

paid: $17,000 for OZ
trade-in value: $8500
7 payments: $1,645 (after interest @9.9% roughly)

Remaining balance on OZ: $6,855

This amount would be applied to the cost of the EVO. (negitive equity would roll over into the EVO)

EVO: $30,000
neg-equity: $6,855

Total cost of EVO before tax, tag, ect: $36,855

be prepaired to have a large down payment.

Volkmann

iTrader: (1)

Event don't forget taxes also.

initialDRacer

iTrader: (9)

Just keep your oz man, it's not worth it. Think about your monthly payments, gas, and insurance. The Oz is pretty nice and it's based on the Evo so it looks kinda the same and you can put a turbo too. But if you have the money, go for it and buy the evo. Don't let your personal instinct lead you to a life full of debts. Just driver your friend's evo.

fury656

iTrader: (6)

I was offered 10,500 back in June for my 2002 OZ with 6k miles. Ended up getting 10k even. Unless you can afford to add in the extra money monthly i'd stick with the OZ, I was in a similar dilemna but luckily I was able to pay off my OZ and not have that negative equity to add on, still hurts my wallet though... Just remember that as much fun as the car is, as i can attest to, it's expensive to gas up and insure and remember you do become accustomed to things quickly and afterwards you're left staring at payments you can barely make.

mayhem

iTrader: (9)

I say stick with the OZ. Great gas mileage and still a nice little car. It's new, it has 4 doors and these days someone will mistake it for an Evo every now and then. My sister has an OZ and she got it for $13K brand new so to me it's a great bargain car.

lancer r us

thanks for the feed back guys. i gues ill just stick to oz then.ill just drop a turbo then . hey its not as fast as an evo.but ill be close enough.hehehehheh

WildRice

The WRC sports compact car market is in flux should become much more competitve in the next couple of years. Ford has financial problems at this time but might bring Cosworth power over in a couple of years, mean while Dodge has ambitious plans to upgrade performance on their SRT-4. Un-loading your OZ with a take over payments kind of deal would work for you if you have a lender who will go for it with your potential buyer. The thought of getting money back out of the deal would depend on how much equity you now have and how hot the buyer is for your car. You have not provided enough data to work up a valid conclusion.

Cost to operate so far:
My insurance is not bad (ten bucks a month more than my "00" Eclipse GT spd was).
First service inspection was under $19 but I provided the Mobile One. The interval is 5000 miles unless you drive hard.
Fuel consumption is 25 MPG now but it has been down as low as 18. I find that using 98 Octane fuel is the way to go, yes the operators manual for the cars says 98 and it cost me $3 a gallon VS $2 for 91. Differences in performace are very noticible.
Tires are $209 a copy from tire rack and they do not last long. I rotated mine at 3500.

If have to get a higher risk policy or plan to drag race, you will be out a lot more than your trade losses real fast with this car.

Hope this helps you.

Best of luck, the Evo is one fun ride.

Secret Chimp

iTrader: (2)

As to stop the propogation of untruths that fly through this site......

The Evo does not require 98 octane here in the US. When the JDM Evo's manual was adjusted for US use, they forgot to correct the octane requirement number.

In Europe and Japan they calculate Octane differently than they do here in the US. The 98 octane number is 98RON Octane....Here in the US we use (RON*VON)/2. This gives a lower overall octane number than you will see on pumps inother parts of the world.

Our 93 octane ((ron*von)/2) is roughly equivalent to their 98RON.....

So running 98 (RON*VON)/2 octane fuel will do nothing for you unless you are tuned to uilize the additional octane.

SC~