Let me get this straight you traded in or are going to trade in your Eclipse with negative equity and they are about to totally screw you on Tax & Title? You do know that when you trade in that amount is deducted from the amount you have to pay in sales tax, right? At least that's how it is where I live.

If you bought this car you just made a few mistakes.
Negative Equity
Higher Insurance
Higher Loan
High Interest % + Long Term (7 years)
(Price Paid for Vehicle minus trade in) * Sales Tax + Registration owed.

What you "want" obviously took place of what you could "afford" even with
$200 "extra" a month. I'm sorry man ... I think it was a bad move, but you might as well have as much fun as you can.

 

https://www.evolutionm.net/forums/sh...9&page=4&pp=15

 

As Ookami said there is no Tax, Title and Registration Fees if you are trading a car, at least here in Nebraska ... I don't know about Cali ... but it would pay to double check ... As for those of you going off on not driving a car hard, different people buy cars for different reasons ...

 

You know what man, I actually remember you posting all those crazy threads back then and starting a ludicrous amount of polls in the past. Clearly you were excited about the Evo, I'm surprised you held out this long. Congrats on the purchase and if it makes you happy and you can afford it that's all that matters. You don't need to justify yourself to anyone on here. Go out and enjoy it man!

 

Its a great deal compared to what you were first looking at.. (820/month) So in your eyes.. i'd be super excited about it... but 84 months is godly long for a car that doesnt ride like your avg daily driver... pretty stiff for the normal "nonracer" type... My everytime she gets in the car is like.. my ***** hurt from the rough ride.. I love it tho myself.. since I drive mine nice and hard... gettin pushed into the recaro seat is my daily thrill... congrats on the car.. but i could never pay that much for 7 dang years...

 

6.49% is a good rate for 84 months. Don't listen to the haters, enjoy your new ride. If you think it is a good deal, then it is a good deal.

I love it how everybody assumes the dealer must be screwing him because his payments are higher then they think they should be. IIRC he had high miles on his Eclipse. Eclipse do bring higher then book values, we deal with this all the time. In fact most Mitsubishis do. When we go to auctions we try to buy them from the black book, but they regurlarly bring above clean book. It could be becuase they hit they took from all the defaulted loans gave them an unnaturally low book value and now people/dealers are realizing they are competant vehicles that sell well used for thousands less then Toyotas and Hondas so they bid higher for them. A good trade in is a lot better then trying to get one at an auction.

On top of all that, if the sell the car at invoice, that's what the dealer gets, how could they be screwing him? Tax goes to the state, negative equity goes to the poeple who financed his previous car and the rest is interest. The delear gets all of the holdback which is a whopping $600. Whoopdee doo, someone's going to Vegas on that.

Just because he wants to drive his car casually at the speed limit and with no mods is none of anybody else's business. Enjoy the car.

 

I would of never bought the evo, to keep it stock

let alone for pay for it in 84 months and 7000 in the hole
but congrats!

 

Obviously people buy cars all the time and don't drive them to their potential. So don't worry about people saying don't buy it, everyone does that. However, Hmm, those are the people who get their Hummers set on fire because they are just flaunting their wastefulness. I wouldn't aspire to that kind of existence.

 

You sound like you are very happy with your purchase and thats all that matters. Enjoy your new toy. Good color choice too.

 

Don't forget you'll be starting the evo off deep in negative equity also as soon as you leave the lot. Like you said, try to pay extra and get back right-side-up. Dealer's love keeping people "in the hole" do what you can to get yourself right.
Congrats on the ride, though. tha EB is pretty sweet color!

 

LOL, classic stealership "finance guy" move. They get you hyped, then ram you with a high interest rate. Anyways, as long as you can afford it, who cares? If you're happy with your payments, then so am I.

Hopefully you've budgeted for maintenance...

l8r)

 

To all of the folks who weighed in positively, thank you. To those who were f*cking rude, who gives a ****! I'm astounded at the level of hypocrisy exhibited by some of you (not all, some). Owning an Evo in the first place is financially unsound, in my opinion. Who really needs one? We should all drive a Toyota Prius. And most of you have expensive mods that increase the chance that you're going to f*ck up your car, jack up your gas mileage, void your warranty, etc. How much is that going to cost in the long run? You don't know me and I don't know you. I'm not a mathmoron for godsakes (LMAO). Unless you have a Ph.D. in mathematics, you can't cast the first stone. I've looked at this from all angles. I am and always have been aware of what I'd be getting myself into. I can afford the insurance increase ( a whopping $14 every six months) and the gas (about the same as my eclipse), etc. As to the interest, it's just money.

It's funny to hear some of you preach from your pulpit with dubious authority. Most of the people on here sink tons of money into their cars with little or no return except a better 1/4-mile time. Suddenly, they are the very model of financial prudence when they hear my story. In the mean time, I'm going to take the plunge and never look back. Peace!

 

All I can say is go to a credit union and refinance.It took me about two months to find a CU that would take me as a client just for the refinance.I was already on a 60 month loan and it didn't change.Saved about $80/month.

 

wow, I almost spilled coffee all over my laptop when I read your first post. I'm sorry to be blunt but for someone who call's himself "mathgeek" you really should take a better look at the numbers cause your getting hosed. to put a frame of reference on your deal I purchased my 04 GSR w/SS&L for 30,148 OTD, thats 28k before TT&L... I had no trade in and financed through mitsu @ 4.25%. Take my adivise and the advise of everyone else and find a better deal.good luck

 

I think he just posted this thread thinking that everyone would be "oohh yeaa EVO go for it!!" I think he's looking for everyone to make him feel like it's a good idea when in reality for his situation..."passing farm vehicles"...an evo is a not really good idea. But that's not what he wants to hear, so all the constructive criticism in the world is gonna help, and he's just gonna get pissed off about it.