Ok , i have an 03 with 27k on it. I want to trade for an 05. I owe about 25k and change on mine. If i qualify for 0% and trade on mine, will it be worth it? I think my payments may still be the same since i wil be going from a 4.5% to 0%. What do you guys think? Anyone here done this? Im having paint issues and i really want to get out of my rally red 03 and get a white, blue or silver 05

 

Spell it w/ a C! J/K. I work at a store called Carmax, I think the negative equity will even it out, or even be a little bit more. Try to sale to an Individual before you even think of trading it. We are selling 03's w/ miles in the teens for 22,500. Just my 2 cents.

 

Bump

 

i looked on kelly blue book and it said your car with 27K, excellent condition is worth 21450. if the dealer gives you that much (good luck), subtract that from the $25000 you still owe. you would be losing $3550 right off the bat. plus the tag, title, tax for the new car, about $2000. that's a lot of money to lose, but it's up to you.

 

**off-topic question** by the way, newbie question here, i cannot figure out what "bump" means and why everyone types it. can someone please tell me. thanks.

 

a 'bump' is to bring the topic back to new posts.
as for on topic question, it is not worth it. i have an 05 and do not think the improvements is enough to justify switching. evo's have always 'improved every other year or so and if you switch every other year, then you will be broke!

 

Well my dad knows the owner of the dealership since they do car business once in a while with porshes, bmw etc, its a chain of dealers and one of them happens to be a . My dad will call him tomorrow and ask what i can get an 05 for, possibly below invoice and how much they are willing to give me on my 03. I just dont want to deal with the headeaches of the paint all the time. I had to go get it buffed again bc the paint was looking dull and faided, and once again paint came off on the pad . I have excellent credit, so i think getting 0% wont be a problem. I might break even considering all these factors and that they work out,if not then i guess im stuck with an 03 with crappy paint.I have the worst luck with cars, either something in the car breaks or something else happens, my friends say im cursed!! LOL

 

how much did you finance before?

 

Don't use Kelly Blue Book, it's not accurate at all. Use http://www.nada.com instead.

 

Well i payed 29,200 out the door. I choose 72 months but will be payed off way b4 that.I owe like 25k and change now. Ive had the car for almost a year now

 

rough estimate

dealer will give you 22k
http://www.edmunds.com/used/2003/mit....1.Mitsubishi*

22k - 25owe = -3k
new ssl 05 otd 32k plus 3k = 35k financed

35k @ 0% 5 years - 583 a month

29200 @ 4.5% 6 years - 463.52 = 4173.00 in finance charges
29200 + 4173 = 33373

i still feel its worth it to trade up
for around "overall" 2k more, you are getting a new evo with all the 05 extras

if you can get more for your trade in , or some money down. you are doing even better
gl

btw - 10 more days until the 0% sale is over ...

 

I pay 462 now, so youre right on the money.I will see how much i can get for it. Since my dad knows him, i might be able to get 23k for mine and the 05 at or below invoice. Im crossing my fingers i can get this deal so i can get rid of my rally red. Then i would need to take everything off the car but hey i cant complain to that i will get a new Evo