Hey I'll share my two cents about the payment.
Price on Evo MR is $36,894
Plus tax $2582.58-875=1707.58 after saving from trade.
Plus etch,reg & title, tire tax and document fee is $749.50.
Plus $2100 downpayment.

36894+1707.58+749.50-2100=($37251.08)

As you know these days rates are up. For 72 months average apr is 7% with excellent credit.
So .07*.72=0.0504 actual rate per year

Now 37251.08*0.0504=1877.45
1877.45 * 6 years=11264.73

So now for the final payment. 36894+11264.73=48158.73
Divide the total by 72 months and that is how you get your payment

48158.73/72=668.87 for 72 months
and lets say you get around invoice price on the car. It would make a difference about 15 dollars a month. So you should expect 653, around there for 72 months.
This has been basic math with no bs and scam in it and believe it or not I work at Bell Mitsubishi. How more can you get honest than this. I know that you want to save as much money as you can but Evo isn't cheap. So if your interested call me at 732 388 8800 and look for JAMES K. I will do whatever I could do to help you get into Evo MR unless you want BR350 in our showroom and this goes for all the other members on this forum.

I hope my 2 cents helped you to make your decision easier.

 

if you pay $48k for an evo you're crazy. maybe if the payment is too high get a normal evo instead of the MR. it is like 95% the same

 

2006 MR w/ zero lift

Negotiated out the door price 35500 incl. some BS ad/doc fee
Trade in value 35000 (i owed 33800)
Cash downpayment 5000
Sales tax applied to only $500 of the purchase price since my trade covered the rest

Total financed 29900 @ 11.9% (have a black mark on my credit from 2001) 60 months = $660/mo.

Keep up your good credit! It will save you a lot of money in the long run.

 

I pay $595 a month for my 06 MR.. I factored out trade in info and just did a net down payment to simplify things. Wish I knew about south coast mitsubishi before I got it! If you are only putting 2k down, then I would seriously recommend getting gap coverage. It cost me $275 for the whole 72 month period through my credit union. The dealership wanted $600.

Here's the details for my deal..

Price - $35958 (including tax & license)
Trade in Value - NA
Trade in buyout - NA
APR - 5.74%
Term - 72 mo
Down Payment - $1500

 

Most people in your similar situation are going to pay around $600/m.

 

06 IX MR

$36k OTD
$13000 down payment
APR=8.xx
monthly payment $400 for 60 months

 

I would try and refi as soon as possible! You could save a good amount on interest.

 

yeah i plan to, just tryin to get a little more saved to make the payment even lower

 

With that low payment you could also overpay every month (assuming it's a simple interest loan) and that will help save you money on interest without having to immediately refinance.

 

which porsche did you trade in?

 

i just got off the phone with HSBC and got approved for a 11.89 % APR for 60 months

i have no built up credit history so im co-signing with my parents and HSBC were the only guys who approved me out of like 5 I applied for.

 

I pay 666/72 a month on my 06 MR. I was upside down ~2500.00 in my trade (03 Eclipse GTS) but the trade helped with the taxes. They took 2000.00 off of the 36,900 that the car was stickered for and I added $1000.00 cash down. The loan was through BOA, and I think it was 7.3% or something, it was 7.9 till I put the cash down - which is an odd percentage but anyhow. I'm happy with the deal.. the eclipse had just gotten a new shortblock installed and I didnt trust it as far as I could throw it.

 

That's a really high rate! I would seriously wait and build up more credit then before getting into a loan like that. You'll be paying a lot of money just to interest. My rate is half that and i'm still paying around $150/mo in interest this first year of my loan.

You could try going through a local credit union also.

 

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