Ridyn

Ok guys so i'm currently in the market for the 2008 GTS Lancer.

Mom told me i have a max of 6,000 to give down.


What I am wondering is what determines A.P.R. Is it credit score or what? Also, how much did you give down and how much are you paying a month.

This is of course for the fully loaded model.

Thanks for all your advice!

People call me stupid or crazy for getting a 2008 car for being 17...then again i was more stupid to buy my bike haha.

Yeah, let me know guys!

gts_in_nj

i co-signed, my mom was the primary, her credit sucks. the apr on my car is 5.9% and i pay $424.48 a month with $1,000 down. i actually pay 500 a month in an attempt to pay the car off slightly sooner. my payment was originally 369 a month but once gap insurance and vehicle replacement was figured in along with some other crap it came to the $424.48.

gnnr

GTS CVT, loaded all options. Credit was mid 700s by their record (not sure who they checked with, it's higher than that with most agencies). 5.9%. I put 500 down. Loaded GTS, got it for about 1200 under invoice. Trade rolled some back in but they gave me a good number on trade as well. End payment is a bit over $400 bucks for me... I could have waited and turned my car in 12 months or so, but we needed better mileage, lower insurance, and just wanted it so it was worth rolling some money.

gts_in_nj

if you're going to be putting 6,000 down, your monthly payments will be great! you'll have so much money for modding. i have another year left until my mom takes my g6 off my hands and frees up and extra $315.02 a month for me to drop into my engine.

Janderson

Hey Ridyn,

Dont worry about what other people say. Im only 17 and im buyin my GTS this fall. I turn 18 in August and ive been savin. People call me stupid for puttin all my money into a brand new vehicle, but ya know what? I like to have somethin to show for my money right now which is why im not putting all my money towards school. School will pay off in the future and I can have loans for that. I want somethin for me right now.

Im plannin on putting $10,000-$12,000 down. APR really depends on the time, where your getting your loan from and credit a lot of times. Theres many occasions when dealers will do 0% APR. Im going with the GTS manual loaded with nav. and sun and sound package. Total is around 21,000 and monthly payments are lookin aroun 200-250 depending on APR.

Im sure youve already done this, I know ive done it a dozen times, but go to the Mitsu website and build it and then estimate your payments. My suggestion is AIM HIGH. Go for like 8.9% or higher and see what the payment is, that way if its lower your in way better shape then you thought.

And im sure your going to have parents as owers on the car. I know im going to have my dad co-own it. I looked into the cost of insurance for an 18 year old male on an 08 on their own title. The cost for one month I figured to be over $700, so make sure you either know your insurance agent or have your parents as co-owners on the vehicle. Im only lookin at around 300 a month while on my parents plan.

Anyway, hope this helped you out a little.

EVOL2003

iTrader: (4)

pay that for my evo.....

Ridyn

Well i'm not getting a co-signer. My mom will have full ownership of the car. As for insurance it's under her name and I as just a "driver".

As for going to the website i was MSRP'ed at $24,455.


GTS 5 spd manual Navigation and tech pkg.
sun/sound pkg.
nav/audio kit.

Going to put about $5,500 to $6,000 for down payment.

And with 9.9 APR and with the $5,500 for a down payment i end up having to pay $479.84 a month. For about 48 months, how many months did you guys do it for?

And i'm going to love insurance it being about $90 a month. Simply because my mother is getting old 52 and counting DOWN.

So anyone here a genius with math and can tell me roughly what i might be looking at?

Janderson

Well, guys correct me if im wrong....But I think if your doin GTS with Nav ant tech package you dont need the Nav/audio kit....I could be completley wrong but I thought that was just an option for like the lower models cuz at the dealership I saw nothing priced about 24,000 for sticker price

Ridyn

30GB HDD navigation system, Mitsubishi multi-communication system, Digital music server function, 7" LCD touch screen panel and FAST Key (Free-Hand Advanced Security Transmitter) entry system

That's the description for the nav and tech pkg.


30GB Hard Disc Drive Navigation & Mitsubishi Multi-Communication system with digital music server function 7" LCD touch screen panel - Points of interest locator - ETACS customization settings - Maintenance recorder - Single CD/DVD-video playback capability. Requires installation kit at additional cost.


That's the description for nav/audio kit


I think there is a difference, no?

Yakspawn

paying $332.79 a month with a 5.9% APR 72 months

I got a fully loaded gts cvt for $21, 723.78

Trade in: $3,400

Total was $18, 323.78

With tax and finance charge: $23,960.88

Ridyn

Alright so here is the deal. Starting 4th wednesday of July i start to recive $962 a month. I just need to know if i'll have enough for car payment and insurance.


As the build&price tells me i should get about 280 monthly payment..sound about right? after giving $5500 or $6000.

Janderson

Yes you will have more then enough

EmanantEvo

iTrader: (12)

You do not need the Nav/Audio kit if you are getting the Nav/Tech and Sun/Sound pkgs. That kit is to allow dealers and/or consumers to install the Nav system on cars that did not come from the factory with it.

Ridyn

Ahh! So that's just adding more to my price! I'm dumb!

GTS_rider

Ok, paying 340.00.. 6k down.. 4.9%apr on a 60months period.... my credit is in the mid 700's with one previous car loan history.. I cosigned the last time my father bought a car.. helped my credict A LOT!.. paid about 2000 under msrp.. but then got the gap and installed lo-jack... (is great for insurance)..